Actually there are two quotes of the day for Marco Rubio--“We don't need more taxes, we need more taxpayers.”
~ Marco Rubio
Senator Rubio was speaking about the 47% of U.S citizens who pay no taxes.
Paying taxes is a duty to the country but there are individuals and corporations who through trusts, fancy accounting, a plethora of tax credits and off-shoring, pay less than they should or pay nothing. It is time to close all the loopholes in our 10,000 page Tax Codes.
Remember the Queen of Mean, Leona Helmsley, who said, ""We don't pay taxes. Only the little people pay taxes." She ended up going to prison for tax evasion. The difference here is that she illegally evaded and many, not all, of the 47% are evading legally through tax loop-holes. Time to stop the nonsense.
The second Quote of the Day by Senator Rubio:
"But I would say to you that compromise without a solution is a waste of time. If my house was on fire, I can't compromise about which part of the house I'm going to save. You save the whole house or it will all burn down."
Rubio speaking on the debt ceiling.
According to the NewsStar:
ReplyDeleteThe General Accounting Office found "two out of every three United States corporations paid no federal income taxes from 1998 through 2005." The Institute for Policy Studies found, "if corporations and households taking in $1 million or more in income each year were now paying taxes at the same annual rates as they did back in 1961 "» the federal treasury would be collecting an additional $716 billion a year. In other words, if the federal government started taxing the wealthy and their corporations at the same rates in effect a half-century ago, the federal debt to investors would almost totally vanish over the next decade."
I can't believe my eyes. This is what Obama has been trying to do ever since he took office. Are you finally seeing the light.
ReplyDeleteNo, he just wants to tax more and spend more.
ReplyDeleteWhile I do not expect any of you liberal friends in LW to read, much less understand, econ 101, the following article demonstrates how a liberal President (John Kennedy) and two conservative Presidents (Reagan & Coolidge) treated the subject of taxing the rich. The Laffer Curve assists in explaining why you can reach a point of diminishing returns, especially when you have a President who is hell bent on taxing the very persons responsible for 100% of the nations GDP.
ReplyDeleteFlorida residents Rush Limbaugh and Lebron James are prime examples, as are the thousands of other wealthy individuals who have fled the tax and spend liberals of New York and California for the low taxation of Florida and Texas. Lebron's case is classic example as he would have lost $15 million of his compensation package simply for playing ball for the Knicks. So, instead of being taxed out the ying yang, he chose Miami. This is the same smart move that companies in California are choosing when they relocate their businesses from that state to Texas. The point here is that when you tax the upper income excessively as Obama is attempting, the GDP will suffer and dollars that the treasury could have had at a lower rate will flow to other countries.
Bottom line: Marco Rubio is exactly on target with his comments.
http://www.heritage.org/Research/Reports/2004/06/The-Laffer-Curve
And of course you use the partisan Heritage Foundation as your source of READING! Funny guy.
ReplyDeleteWhat was the budget surplus when Reagan took over? What was the deficit when he left?
But he did spend trillions keeping us safe from the broke Russians with his STAR war initiatives, missile shooting science fiction weapons which are now a bunch of space junk. Conservatives have to go back 30 years for Reagan and he was the
2nd worst president in the last 60 years. Try making some positive stuff up about Bush 1. you'll have better luck with your creditability.
Rush Limbaugh and Lebron James move so they don't have to pay taxes. Sounds anti American to me.
ReplyDeleteAnd pill poppin Rush the war mongering hawk, because of his privlidged upbringing never saw a day in the military and James will never win a championship BECAUSE he went to Miami to avoind taxes. You used 2 great examples.
You must be one them there educated conservatives that reads The Heritage Foundation propaganda like it mattered and watches Fox News like it was really the news.
It is humorously apparent that the two liberal commentators have spent no time reading the research and probably think the Laffer Curve is some woman's backside. Regardless, lets see if we take the conversation down to their level.
ReplyDeleteEven the most liberal amongst us recognizes the fact that productivity declines as the tax rate increases, as people choose to work less. The higher the tax rate, the more time people spend evading taxes and the less time they spend on more productive activity. So the lower the tax rate, the higher the value of all the goods and services produced.
The next comment will be a little more difficult for them to understand, but.....government tax revenue does not necessarily increase as the tax rate increases. The government will earn more tax income at 1% rate than at 0%, but they will not earn more at 100% than they will at 10%, due to the disincentives high tax rates cause. Thus there is a peak tax rate where government revenue is highest. The relationship between income tax rates and government revenue can be graphed on something called a Laffer Curve. And....when you begin taxing the rich excessively, they will do exactly what Rush, LeBron and a host of others did, and that is to take their wealth somewhere else.
A classic example of this was the misguided notion in 1991 that we could impose a "Luxury Tax" on the rich to help solve the nations fiscal problems. What happened was the complete and utter devastation of the boating industry and increased unemployment. That is because the rich did what any other normal human being would do, they continued to purchase they yachts, but they simply did it off shore. Just ask John Kerry (a uber liberal icon) why he moved his $7 million dollar yacht last year from Massachusetts to Rhode Island in his attempt to avoid the $500K personal property tax in his home state. Mr. Kerry (again, a liberal icon) was, in fact, so cheap that he did not even have the boat built in the US.
Therefore, reducing the marginal tax rates (even for the rich) has produced the highest revenues to the federal government every time it has been tried. Kennedy recognized this, as did Reagan and Coolidge.
More education for the liberal poster at 12:32 & the liberal poster at 12:39.
ReplyDeleteRemember the "Peace Dividend"? That was the money you liberals were willing to extract from the military budget after Reagan won the cold war. Now......do you remember how Reagan won the cold war? It was via bankrupting the Soviet Union by telling them that the US was developing Star Wars (which is now a reality). So much for that argument.
I mentioned Rush and LeBron because one is a conservative and one is a liberal. Both have good accountants and a little common sense (more than I can say for the two of you). They each understand that the government is only in the taking business and that if they are to keep as much wealth as they feel that they are entitled to, then moving to a no tax state makes good sense. Kinda like John Kerry moving his yacht from Massachusetts to Rhode Island, or Charlie Rangel or Timmy Geithner cheating on their taxes. Each has the same ultimate goal, but many chose to cheat (Kerry, Rangel & Geithner)rather than to simply be honest. But, in your twisted world, only the conservatives are to blame when they attempt to shield their wealth.