Posted by
GunnyG© on Monday, April 14, 2008 6:27:54 AM
Liberals LOVE to tax us for their many social programs. Give a liberal ten minutes and they can think up a hundred different ways to spend OPM! (Other People's Money). Recently, the Gunny watched a Fox News program that had Dan Henninger of the Wall Street Journal on it. Here are a few facts on what will happen AFTER the liberal's allow Bush's tax cuts to expire in 2010. Before we get to THAT, these snivelers will only have to sit on their hands and DO-NOTHING to allow Bush's 2001 and 2003 tax cuts to expire. That's like Obambi voting "present" over 200 times, which will allow them to say, "we didn't raise your taxes, Bush should have made them permanent!" With a libturd POTUS and a libturd Congress the following WILL HAPPEN:
1. The Capital Gains Tax goes from 15% to 20%.
2. The tax on Dividends goes from 15% to a whopping 39.6%.
3. The Death Tax goes back UP to 55%!
But WHO is the biggest losers when Bush's tax cuts expire? The LITTLE MAN that they liberals constantly tell us they look out for. Yeah, they look out for them, at vote buying time, maybe. That's right, the 10% tax bracket that Bush created for low-incomes GOES AWAY in 2010! They go BACK UP to 15% and that 5% really hurts low-income families. Nice job libs laying a 50% INCREASE on low incomes yet high-earners take a 13% increase. Considering that the liberals making the laws are ALL RICH LAWYERS, it stands to reason that they screw US and give themselves a pass. What a collection of squirming maggots. Obambi is far ahead of Hitlery in demanding higher taxes, no doubt HIS dough is well-sheltered. This empty-suited idiot wants to remove the payroll tax cap over 102,000! That will effectively make sure that the economy slows down as shakers and movers put their plans on "hold" until the tax and spenders get the boot in 2012.
Here is a historical example of US tax cuts and what happened courtesy of Gary Wolfram, Ph.D., a Business & Media Institute Adviser.
1. The Harding-Coolidge tax cuts of the 1920s came after Wilson ran the income tax rate up to 77% in 1918! The Harding-Coolidge administration reduced the top level to 25% by 1925 and oddly enough, US economic output "nearly doubled" in the next four years. Even more strange is that unemployment fell sharply during those years. Could it be that a tax cut HELPS the economy? Not if you're a liberal.
2. The Anti-Liberal Zone has covered how FDR screwed us in the past by shoving socialist programs down our throats during the Depression years, which made it longer and worse for the American public. So, in addition to selling war bonds, fund drives, rationing, etc, FDR and his liberals ran up the top marginal rate to a draconian NINETY FOUR PERCENT! This stayed in effect until JFK's tax cuts.
3. JFK's tax cuts reduced the top margin from 91% to 70% by 1965. What happened? A HUGE BOOM in the economy. The GDP (Real) rose an average of 5.1% percent per year! And as usual, unemployment FELL to 3.9% average, down from a 5.8% average prior to the tax cut! Here again, we see low taxes equals a better economy and more people working.
4. In 1981, a great man with a vision, slashed a whopping 20% off the top marginal rate (70% to 50%). Liberals quite naturally whined and mewled about it. Reagan also slashed capital gains and dividend tax rates. He again slashed the top marginal rate by 22% to a LOW 28% by 1988. The result? The LONGEST RUNNING ECONOMIC BOOM in our history. From 1978, when Carter was busy strangling the economy, GDP production (Real) was a measly .9%! Stagflation, recession, misery index, etc, were the words of the day. AFTER Reagan's tax cuts, the GDP (Real) BOOMED by a whopping 4.8% per year from 1983 to 1986! Prior to Reagan taking the helm and implementing tax cuts, the unemployment rate stood at 9.7% (1982). However, by 1986, it stood at 7% and in 1989, was at 5.3%. It appears that historically speaking, TAX CUTS WORK!
Liberals LOVE to bleat about "tax cuts for the rich" but when the rich get a tax cut, it benefits EVERYONE! If liberals were not so interested in class warfare and killing the US economy, they'd acknowledge that. Wolfram writes: "in 1920, 26 percent of Americans owned automobiles. The Harding-Coolidge tax cuts were enacted and by 1930, 60 percent of Americans had a car. Electric lighting was in 35 percent of Americans’ homes in 1920 and 68 percent by 1930. When the top marginal tax rate was 91 percent in 1920, only one in five people lived in a household with a flush toilet. By 1930 more than half of Americans would have flush toilets." So WHO benefited from the tax cuts? It appears that auto workers did, plumbers did, tire makers did, painters, and many many others did.
WHY DOES THIS HAPPEN?
A free market economy means that if I produce something people WANT, a better mouse trap, for example, the "world beats a path to my door." On the other hand, if I produce crap, like Air America did, then I go nowhere but out-of-business. Pretty easy to understand right? Liberals can't grasp that concept. Enter the marginal tax rate. This tells us HOW MUCH we keep and how much Uncle Sam skims on April 15th. This impacts the INCENTIVE to build a better mouse trap. If the government LOWERS the marginal tax rates, they create the incentive for us average joes and janes to pursue a dream, start a business, or invent a better mousetrap. If, say, the Feds tax you at 90%, like FDR and his cronies did, there is NO REASON or INCENTIVE for anyone to risk their hard-earned dollars in a venture that has an uncertain future. Thus, the economy slows down ,people are out of work, basically, the Carter years all over again.
WHY LIBS LOVE HIGH TAXES.
It's very simple when you look at it as high taxes makes it difficult or even IMPOSSIBLE for us to enjoy ANY UPWARD economic mobility. Power and Control over the masses and the distribution of handouts by the libs keeps THEM in power and US enslaved.
Thus, tax cuts make it easier for the lower class to move up into the middle class or even become rich through hard work, a willingness (incentive) to risk their hard-earned dollars, in order to produce what others will want to buy. This is being proven in Estonia RIGHT NOW after they slashed their top marginal tax rates and their economy BOOMED! (CIA World factbook)
Our problem is that when the class-warfare experts at the Jackass Party HQ bleat about the evil Republicans offering “tax breaks for the rich,” the GOP goes into a thumb-sucking fetal position and refuses to open up with salvos on WHY THEY WORK! It is a proven FACT that the poor in America have a better chance to become better off or RICH under Conservative leadership. In fact, 60% of the "poor" households in the USA own their own car. It may not be a limo SUV like Al Gore drives but it works! Almost 50% of these "poor" households OWN THEIR OWN HOME! Surely not a 28,000 square foot mansion for four that John Leftwards enjoys but a home nonetheless. This is because LOW TAXES create the incentives for others to produce what others NEED or WANT, money changes hands, businesses grow, and jobs are created! Liberals LOVE to confuse voters and keep them IGNORANT on HOW the free market system works, in order to gain or regain power. Once in, using the politics of "envy," the leftists go right back to raising taxes and stagnating the economy! Then they can blame someone or something else, which really, is all liberals are good for anyway.
Once again folks: "READ! THINK! ATTACK!" Facts are to liberals as garlic is to a vampire.