Stephen Moore Calls for Raising Taxes on the Poor in Order to Pay for Tax Cuts for the Rich

[flpoljunkie]

Emphasis mine.

Stephen Moore calls for raising taxes on the poor in order to pay for tax cuts for the rich.

The Bush tax cuts are scheduled to expire in January. President Obama has expressed a desire to preserve the cuts for the middle class while letting tax rates for the wealthy reset to where they were during the Clinton administration. Conservative lawmakers and pundits have been fearmongering that allowing the tax cuts for the wealthy to expire will kill job creation and small businesses (despite the fact that fewer than 2 percent of small business owners will be affected). Last night on CNBC, Wall Street Journal editorial board member Stephen Moore went so far as to say that he can’t “see the sense” of allowing cuts for the rich to expire, and then advocated that taxes be raised on the poorest Americans in order to finance more tax cuts for the rich:

I just don’t see the sense of this. In fact, if I could have my ‘druthers, I’d raise the ten percent tax rate to fifteen percent and lower the (top) rates.

Adopting such a plan would only exacerbate income inequality that is already the worst it has been since the 1920’s. According to the latest data, “the gaps in after-tax income between the richest 1 percent of Americans and the middle and poorest fifths of the country more than tripled between 1979 and 2007.” The top 1 percent of families now receive nearly 25 percent of the country’s income, after earning less than 10 percent in the 1970s. This year the Bush tax cuts will give millionaires more in tax breaks than 90 percent of Americans will make in total income.

Video at Think Progress link: http://thinkprogress.org/2010/07/08/moore-taxes/

[femmocrat]

1. If Obama wavers on this, he is "dead" to me.

I hope he sticks to this campaign promise!

[Skittles]

27. LOL, stick to his promise

:rofl:

[napi21]

2. I hope this gets sent to Obama so he really understands just how

arrogan & greedy these people are! I want to make sure the WH nor the Congress doesn't cave on their determination to let those cuts expire!!!

[Jennicut]

3. Kill job creation? What jobs are the wealthy currently creating?

[tsuki]

14. They have will to decide between their illegal nanny or gardener? I

don't understand why the personal rate going up on the rich affects "job creation."

[CTyankee]

15. I've been wondering the same thing.

Those 8 years under Bush, slashing taxes on the rich, ended up creating...what? Lessee, what actually happened in September of 2007???

Oh, yes, now I remember, it was vewy bad because you and I took out mortgages we couldn't pay back...THAT was the problem!

So glad to know where the blame really lies...:sarcasm:

[Hansel]

18. Good question. Dumb arsed Harold Ford Jr said the same thing on MTP

I was shocked that Rachel Maddow didn't ask him this same question. Those on the left need to get much sharper at responding to these myths as they come up. She should have easily taken him to the mat on this one it's so utterly ridiculous.

There have been extensive tax breaks for the rich in place for nearly 10 years and the job picture has been abysmal the entire time.

So does anyone know how many decades before those jobs get created? I mean the ones in the U.S.

[BeFree]

4. Yeah

Not only that but gas needs to be made more expensive....some say.

That way there will be plenty of gas for the rich folks for use in their jets, yachts, limos, mansions, vacation villas, trips to Europe, etc, ect, etc.

Be positive poor folks.... "This year the Bush tax cuts will give millionaires more in tax breaks than 90 percent of Americans will make in total income." Surely, given just another dozen years of the same tax breaks, the economy will turn around and everyone can get a minimum wage job.

Be patient.

[maxsolomon]

8. gas needs to be more expensive to reflect its true cost

and discourage its profligate use on things like lawn cutting, jet skiing, and war making.

[BeFree]

12. Oh?

And you think the rich who have lawns, jet skis and war profits will not be able to afford the more expensive gas?

Raising the price of fuel through taxes would tax the poor people more by percentage than it would the rich. Thereby taxing the poor more and de-taxing the rich.

The only way to limit the damage and spread the costs equally is through rationing. Are you in favor of rationing?

[DailyGrind51]

16. So that us working stiffs who can't work from home and need our cars to get to work can pay more?

Think before you post!

[Hansel]

19. Yes, using a couple of gallons of gas a year to mow your

lawn is a huge killer.

The other two I agree with, but come on. Lawn mowing? Really?

All raising the price of gas will do is make it worse on the poor. Period. There are other things that would be more effective, like giving everyone affordable alternatives to gas powered vehicles.

[OHdem10]

5. This is standard operating proceedure. Reverse Robinhood

is part of Conservative Economic Fundamentalists.

[Jefferson23]

6. This what the GOP stands for, the Democrats should give out T-shirts

with that line: "I just don’t see the sense of this. In fact, if I could have my ‘druthers, I’d raise the ten percent tax rate to fifteen percent and lower the (top) rates."


Then list all the quality of life issues facing the percentage of Americans he is willing to FURTHER SCREW.

They hate most Americans, and he just proved it.

[flpoljunkie]

7. 'We know how this movie ends, right? We don’t want to see it again.' -President Barack Obama

Americans need to hear this from our party over and over--from now until November.

[Jefferson23]

13. Absolutely, no doubt about it. n/t

[TwilightGardener]

9. Of course. I'd be shocked if he'd said the opposite, frankly.

Giveaways to the rich = good stuff for all of us. Giving the poor a break = money down a rat hole. This is the Big Lie.

[flpoljunkie]

11. Yep! It's not 'trickle down' it's 'pissed on!'

[Hansel]

20. Tinkle on economics.

Been calling it that since the 1st time Ronnie said it.

[xxqqqzme]

10. unless the moore-ster

is from a blue-blood, old money family or an unproductive trust funder, he is not one of 'them'. So how much more tax is he willing to pay?

[DailyGrind51]

17. Eliminate taxes for the poor completely!

[Marsala]

21. Eliminate taxes for the rich completely!

Since cutting taxes on the rich increases revenue according to supply-side theory, cutting them to zero should increase revenue to infinity! Everybody wins!

Well, except the poor, but who cares about them? Nobody who matters.

[DailyGrind51]

23. The REAL reason Republicans hate the French: "guillotines"!

[Lydia Leftcoast]

26. I'd like to see the cap on Social Security contributions raised or eliminated

and the bottom threshold for requiring Social Security contributions raised, so that the poor would see a reduction in their FICA deductions, since most of them pay more for SS than they do for income tax.

[DailyGrind51]

28. Since Social Security is taxed, even the benefits received by "the rich" will come back to the Fed!

Those who received will have to give!

[old mark]

22. See, we NEED the very rich because they enable and allow the poor to

lead such joyful, fulfilling and enriching lives by selling them cheap imported unnecessary bullshit that doesn't work and then starting wars to occupy their spare time.

Where would we all be without the rich?


mark

[mikekohr]

24. Here Is A Graph That Documents The Abject Failure Of Tinkle Down Tax Policy

?


click on this link to view expanded view of above graph:
http://cedarcomm.com/~stevelm1/usdebt.htm



The two biggest promises of "Trickle Down Economics" are it's greatest failings. Proponents of "Trickle Down Economics” claim that tax cuts, skewed to the rich, will create jobs and increase tax revenues. The graph above disproves the latter claim.

Job creation plummets under "Trickle Down Economics see http://bureaucountydems.blogspot.com/p/job ...

And nine of the last ten recessions have occurred under Republican leadership see http://bureaucountydems.blogspot.com/p/his ...

Two things are certain to grow when a Republican is in the White House, unemployment and the National Debt.

By contrast, "Bubble Up" economnic priciples practiced by Democratic Administrations put people to work, rev up the economy, and balance the Nation's ledger books. Every time. No exceptions.


mike kohr
Bureau County Democrats

[Lydia Leftcoast]

25. Typical right-wing propaganda that relies on people's ignorance about taxation

I'm self-employed, and I haven't bought any new equipment or contracted for outside services in over a year.

Why not?

Fewer customers than normal.

You could reduce my taxes to zero, and it wouldn't make me invest when no money was coming in.

Oh, and by the way, something a lot of people don't know-- If I HAD bought new equipment or contracted for outside services (advertising, accounting, etc.), the expenses would have been deducted from my taxable income.

That's right, boys and girls, hiring people and investing in the company actually REDUCE a business's taxes.