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The Bush Tax Cut was designed to expire after 10 years. Why? Because it would have blown the budget even more to do so. And that was BEFORE the recession. So let it EXPIRE after the 2 year Obama Extension. These will be the tax rates that were VOTED on by the Republicans in 2001. These are the tax rates the GOP wanted taxpayers to have in 2011/2013 and on.

So lets start from scratch. Extend the 10% rate up to 50,000. Take the Cap off Social Security taxes, or do the "donut" and have SS taxes on income over $200,000. Or better yet, cut employee (NOT employer) taxes on the first $20,000 as either Krugman or Reich suggested, and take the cap off.

Finally, not preferential treatment on UNEARNED income. That is why the rich get richer. They pay less taxes on THEIR income, allowing MORE investment that gets taxed at a lower rate. I would be fine with a lower rate for say the first $50,000 in unearned income.

So let the Bush Tax HIKE take place, then allow the Middle Class/Obama/Democratic Tax Cuts take place. The GOP can vote against them, and face the electorate in 2014,2016, or 2018. Or they can vote for them. But the Dems will be able to run on cutting taxes. I would prefer they be called the Democratic Tax Cuts, as Obama is not running again.

Last point, Obama's STARTING POINT should not be  return to the Clinton Era tax rates on upper income. It should be to the HIGHER tax levels under Reagan, JFK, or Eisenhower. We can certainly have 5 or 6 tax rates, with higher rates on income over $1 million, and even higher rates on income over $10 million.

Poll

Democratic Tax Cuts

6%1 votes
93%14 votes
0%0 votes

| 15 votes | Vote | Results

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Comment Preferences

  •  Tip Jar (2+ / 0-)
    Recommended by:
    Karl Rover, Neon Mama

    Oh, look.....I get a tagline. I better not waste it. I'd rather have a bottle in front of me than a frontal lobotomy.

    by sd4david on Sat Nov 10, 2012 at 12:29:59 PM PST

  •  and when they threaten to go Galt (1+ / 0-)
    Recommended by:
    Neon Mama

    or move to another country, good. They can pay higher taxes in most industrialized countries. Or live somewhere like the Cayman Islands. We'll be better off without them.

    This Rover crossed over.. Willie Nelson, written by Dorothy Fields

    by Karl Rover on Sat Nov 10, 2012 at 12:50:28 PM PST

  •  Bush hike -- was pennywise & pound foolish. (1+ / 0-)
    Recommended by:
    Roger Fox

    Just like NCLB was designed to fail in a mere decade.

    And never forget Al Qaida and Hezbollah and the Inquisition and Salem Witch Trials ---- were/are
    "faith based initiatives."      

    Wage slavery is no better than other slave systems.  Fair pay eliminates poverty.  Gotta be able to buy work boots to pull yourself up by bootstraps.

    De fund + de bunk = de EXIT--->>>>>

    by Neon Mama on Sat Nov 10, 2012 at 04:44:59 PM PST

  •  DO what to Social security ? (1+ / 0-)
    Recommended by:
    phonegery

    IS there any problem with SS that a good economy wouldn't fix?

    And if you remove the CAP on income you create a HUGE benefits check, something crazy like 10 or 15k per month. SO then if you cap the benefits you now have a welfare program, and we all know how the GOP likes to label people as welfare queens.

    The rest of it is fine, I've been saying for years I dont want to talk about repealing the Bush tax cuts, I wanna talk about repealing the Regan Tax cuts.

    I might like 8% then 10% on income below 50 or 60k. 6 more brackets for the top .33%.

    Heres a great link showing how many brackets and at what level. We have 6 income tax brackets now, we used to have as many as 67.

    http://taxfoundation.org/...

    FDR 9-23-33, "If we cannot do this one way, we will do it another way. But do it we will.

    by Roger Fox on Sat Nov 10, 2012 at 06:20:10 PM PST

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