My Way News - McCain weighs proposal to cut taxes on investments

I got an idea for you, Senator. How 'bout raising the interest rate on my flooking savings account!?

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Individual banks control the interest rate on savings accounts...Not the Fed...

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"You get the respect that you give" - cnredd

So far anyway...

But I think when interest on loans goes down usually interest on savings also go down. I don't know why this is. Maybe debateman or dga can explain this...

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Who'd a thunk. lower tax rates for investors, capital gains tax, dividend tax rates. Thats new? Please.... How exactly does lowering tax rates on dividends pull the country out of the hole?

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http://www.aldaily.com/

Gee, maybe by allowing the people who create wealth (for everyone) the financial ability to create more wealth, instead of taking away from that ability?? But that actually makes sense as opposed to taking money from them with no long term benefit leading to lowered competetiveness, fewer jobs and and overall worse economy. Pretty basic commonsense kind of stuff for those of us who actually take the time to rationally think things through.

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Our nation has not always lived up to its ideals, yet those ideals have never ceased to guide us. They expose our flaws, and lead us to mend them. We are the beneficiaries of the work of the generations before us and it is each generation's responsibility to continue that work. - Laura Bush

God is a conservative -

Ecclesiastes 10:2--"A wise man's heart inclines him to the right, but a fool's heart to the left."

It makes more sense to allow middle and lower income people to get some relief. Because they actually spend the money the creates an economy. I don't have a ptroblem with cutting rates for business. But not stock dvidends.

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http://www.aldaily.com/

Here we go again... Economics 101:

Raising taxes raises costs, raising costs raises prices, raising prices stifle the economy when there is no rising income to match and since businesses have less moeny to work with, they can't raise salaries.

Lowering taxes lowers costs, lowered costs mean either business expansion or lowered prices (to increase market share), business expansion means more people working, lowered prices means more buying, both mean more positive economic activity.

Very basic stuff.

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Our nation has not always lived up to its ideals, yet those ideals have never ceased to guide us. They expose our flaws, and lead us to mend them. We are the beneficiaries of the work of the generations before us and it is each generation's responsibility to continue that work. - Laura Bush

God is a conservative -

Ecclesiastes 10:2--"A wise man's heart inclines him to the right, but a fool's heart to the left."

Can we PLEAZE just do away with that utterly ridiculous nonsense once and for all?
Bush has had his entire presidency, with a Republican congress except for the last couple of years, and the average family income WENT DOWN while the rich got richer.
Let me repeat that. RICH tax cuts galore. Average family income WENT DOWN.

Clinton made his policies work under his presidency, and while the rich got richer, the AVERAGE FAMILY INCOME IMPROVED AS WELL.

Kissing the rich man's ass, thinking you owe your income to him, is sycophantic myopia. The CEO income goes up, up, up, and he robs the coffers on the way out, and he's praised as "decent capitalist".

Biden is right.
It's the AVERAGE MAN who drives this economy.

AND THE REPUBLICANS KNOW IT...
When we were talking about a "stimulus package", did we look at how we could send more money to the rich???
NO!
We sent it to the AVERAGE WORKER who wasn't so rich, and NOT ONE REPUBLICAN bothered to pipe up and say "But, trickle down! This money would be better spent towards the rich"

Bush has been cutting taxes during economic prosperity FOR YEARS, and now that we have economic problems, the neo-cons complain we can't raise taxes now...
(except they won't admit it's just on the upper income crust)
You would think that if they truly believed the latter, they would have complained about the former as well.
The only trend here is one excuse after another to cut taxes for the rich, no matter what the situation...

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"When I give food to the poor, they call me a saint.
When I ask why the poor have no food, they call me a Communist."
--Dom Hélder Pessoa Câmara

We must acknowledge, once and for all, that the purpose of diplomacy is to prolong a crisis.
--Spock, Star Trek

Furthermore faithful_servant, I posted this thread a while back and got absolutely no response...

Most companies in US avoid federal income taxes

WASHINGTON (AP) -- Two-thirds of U.S. corporations paid no federal income taxes between 1998 and 2005, according to a new report from Congress.

The study by the Government Accountability Office, expected to be released Tuesday, said about 68 percent of foreign companies doing business in the U.S. avoided corporate taxes over the same period.

Collectively, the companies reported trillions of dollars in sales, according to GAO's estimate.

Now tell me, are you able to look at that and say
"Oh my gawd! You a massive 1/3 of U.S. corporations HAD to pay federal income tax between 1998 and 2005?
ONLY 2/3 avoided them completely?
HOW can we get that 1/3 number LOWER, cause obviously these guys are hurting!"

Don't talk to ANYBODY about "economics 101" when you don't understand REALITY Economics: What REALLY goes on with paying taxes...

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"When I give food to the poor, they call me a saint.
When I ask why the poor have no food, they call me a Communist."
--Dom Hélder Pessoa Câmara

We must acknowledge, once and for all, that the purpose of diplomacy is to prolong a crisis.
--Spock, Star Trek

First of all, the Dems. want to increase our taxes, not lower them. They talk about tax cuts for the middle class, but they don't mention that they are going to allow the 2000 tax cut packeage to expire which will raise our taxes more than the tax cuts they are proposing. So don't think for one second that whenthe Dems. say they are going to cut my taxes, they are telling the truth. All they are doing is playing a numbers/politics game. They are trying to fool you into thinking that you're getting a tax break and then make political hay by claiming to give you one.

You're right about the common man being the economic engine of this country, but without the relationship with business, he's an engine w/o fuel. You think that you can suck out investment capital and it will have no effect on our businesses. The REALITY is that it will and has. Look at historical trends, when business taxes have the highest here, our economy has been the worst (with the exception of the post WWII boom that was funded by a massive returning of investment to businesses by way of war time production demands). When business taxes go up, we become less competitive in the global market. When they go down, we becomoe more competitive. As our businesses get stronger, our economy gets stronger and the common man's ability to spur on even greater economic strength is magnified.

As for your babbling about corps. avoiding paying taxes, that's a classic example of yet another shortcoming in high business taxes. While I deplore the fact that these businesses are using loopholes to circumvent thier legal obligations, I also regonize that this is being driven by high business taxes. If business taxes were low or gone altogether, all of this money that's being sent outside of our economy would be staying in it. Corps. would have more reinvestment capital, we'd be seeing more jobs, a greater inflow of cash into this country and a wider tax base. As the job market expanded, corps. would have to be more competitive in how they attract employees, meaning better benefits and better pay. All of which IMPROVES the common man's impact on the economy.

When you take away from corps., they cut costs and/or raise prices to compensate. Material costs are pretty much fixed, so the major cost cutting efforts are in manpower or compensation. Both of which dilute the common man's impact on the economy, resulting in a narrower tax base.

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Our nation has not always lived up to its ideals, yet those ideals have never ceased to guide us. They expose our flaws, and lead us to mend them. We are the beneficiaries of the work of the generations before us and it is each generation's responsibility to continue that work. - Laura Bush

God is a conservative -

Ecclesiastes 10:2--"A wise man's heart inclines him to the right, but a fool's heart to the left."