Geithner: Taxes on ?Small Business? Must Rise So Government Doesn?t ?Shrink? | CNSnews.com

Un freaking believable.....

kbit 

Geithner: Taxes on ?Small Business? Must Rise So Government Doesn?t ?Shrink? | CNSnews.com Un freaking believable.....

Taxation isn't the issue.

Government wasting Tax revenue is the problem.

kbit 

Geithner: Taxes on ?Small Business? Must Rise So Government Doesn?t ?Shrink? | CNSnews.com Un freaking believable.....

@kbit

The US government borrowed $1 trillion to fight two unnecessary wars.

You either keep paying interest on that forever

or

you cut services( i.e. Medicare, Medicaid, Social Security)

or

you raise taxes

or

you just repeal the tax cuts for the top 2 percent that were put in place by President Bush, which the Republicans refuse to do.

or

The USA defaults

What do you suggest ?

ThatManFromTexas 

@kbit you just repeal the tax cuts for the top 2 percent that were put in place by President Bush, which the Republicans refuse to do.

I thought it was more like the top 1% of the top 1%, in other words the super-ultra-elite ungodly rich of the rich accounted for something like 75% of that figure. I can't remember the numbers sorry, and don't have time to Google right now, but I am quite positive it was much more narrow than the top 2% of the country.

Mike

Big Mike 

I thought it was more like the top 1% of the top 1%, in other words the super-ultra-elite ungodly rich of the rich accounted for something like 75% of that figure. I can't remember the numbers sorry, and don't have time to Google right now, but I am quite positive it was much more narrow than the top 2% of the country. Mike

The Bush tax cuts lowered taxes for everyone, but were heavily shewed toward the very top earners.

Obama wants to keep the lower tax rates on everyone making $250,000 or less and repeal the tax cuts for everyone making more than $250,000.

98% of Americans earn less than $250,000

That means the top 2%(those earning more than $250,000) would pay a higher tax rate.

ThatManFromTexas 

The Bush tax cuts lowered taxes for everyone, but were heavily shewed toward the very top earners. Obama wants to keep the lower tax rates on everyone making $250,000 or less and repeal the tax cuts for everyone making more than $250,000. 98% of Americans earn less than $250,000 That means the top 2%(those earning more than $250,000) would pay a higher tax rate.

Yes but the big tax "reform" they pushed through right before Christmas last year, I distinctly remember it benefiting the top 1/10th of 1% the most, and it added up to hundreds of billions of dollars just at this one group of people of the uber-rich.

And you know now that Obama let it in, it will be near impossible to ever get it repealed because every Republican out there will call it a tax increase, whereas the truth was it's a tax break that expired.

I get that America owes a lot of innovation to this group of people. And I get they pay a huge amount in taxes already. But their country needs them to be patriots. Life isn't fair. Tax isn't fair. But the opportunity to make this kind of uber-rich money will cease to exist here in America at some point if we don't get our shit together and start getting serious about some really big fundamental changes we have to make in this country. And the answer to those problems is complex, but it sure isn't to give the top 1/10th of 1% of American's such an enormous tax break that it cripples the rest of us.

Mike