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Archive for Friday, September 28, 2012

Letter to the Editor: Tax focus

September 28, 2012

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To the editor:

In your Sept. 20 editorial, you equate “the 47 percent” with those who will vote for President Obama “no matter what.” I disagree with that statement. A good portion of that 47 percent are retired Republicans who are loyal to the GOP. Romney is putting Republicans in the company of working Americans of all parties whose income tax  liabilities on a modest income are likely reduced through personal, child care, and other exemptions which they need in order to get by. Moreover, these persons do pay sales and property taxes, and the elderly in retirement may be taxed on Social Security income, if they earn enough.

Food, shelter, school expenses, clothing, child care expenses, etc., all come out of modest wages with a much more significant effect on the spending power of less affluent families than that “suffered” by millionaires and billionaires.

Focusing only on income taxes is ignoring the rest of the story. We must not forget how a near depression put so many out of their homes and jobs — a situation not easily fixed. Romney himself said in one of his “truth telling” speeches, that by the end of his second term, he would have everything fixed. Can’t we give Obama the same time with a cooperative Congress to add to already significant economic progress?

History shows us that protecting the rich from taxes they can afford does not necessarily result in the much vaunted positive effect on the economy, the middle class and the working poor. Let’s not fool ourselves.

Comments

jafs 1 year, 6 months ago

I wonder what people think it means or proves to find one person who says dumb things and supports a candidate for president.

I'm pretty sure we can find a number of such people, all of whom support different candidates.

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atiopatioo 1 year, 6 months ago

Are Federal government agencies part of the 47%?

Federal agencies owe $14 million in unpaid taxes

Thursday - 9/27/2012, 2:02pm EDT By Amanda Iacone Federal News Radio (This story was updated to include additional comments from the IRS)

As of December, 70 federal agencies owed the U.S. Treasury $14 million in unpaid taxes that were withheld from federal workers' paychecks, according to a federal audit released Thursday.

http://www.federalnewsradio.com/534/3056626/Federal-agencies-owe-14-million-in-unpaid-taxes

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justfornow 1 year, 6 months ago

I think we all know who Gov. Romney is referring to.

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Flap Doodle 1 year, 6 months ago

"...Americans must be wondering how much more of this “recovery” they can afford. New figures from the Census Bureau’s Current Population Survey, compiled by Sentier Research, show that the typical American household’s real (inflation-adjusted) income has actually dropped 5.7 percent during the Obama “recovery.” Using constant 2012 dollars (to adjust for inflation), the median annual income of American households was $53,718 as of June 2009, the last month of the recession. Now, after 38 months of this “recovery,” it has fallen to $50,678 — a drop of $3,040 per household. Yet it gets worse. Amazingly, incomes have dropped even more during the “recovery” than they did during the recession. In fact, they’ve dropped more than twice as much as they did during the recession. From the start to the end of the recession, the real median income of American households fell $1,413, or 2.6 percent. From the end of the recession to the present day, it has dropped $3,040, or 5.7 percent. This begs the question: What kind of “recovery” compares unfavorably with the recession from which it’s ostensibly recovering?..." http://www.weeklystandard.com/blogs/americans-incomes-have-fallen-3040-during-obama-recovery_653116.html

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Liberty_One 1 year, 6 months ago

"protecting the rich from taxes they can afford "

Question: how does the middle class forklift driver have a job if there wasn't a rich person to buy the forklift?

It's not an issue of what the rich can or can't afford. It's that we as a society cannot afford for the government to have an even larger share of the pie. We should be looking to cut everyone's tax rates. The fewer people that pay taxes the better.

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Richard Heckler 1 year, 6 months ago

Neither Republican nor Democrat Upper Middle Class/Middle class can afford the Republican Party

Is the market value of your home worth less than your mortgage? How much market value have home owners lost since 2007? Trillions of $$$$.

Let's talk about entitlements that have literally destroyed jobs,economies and retirement plans. And made owning a home a risky investment - now that is remarkable.

DC republicans have been successful at wrecking our economy big time twice in the past thirty years. Because of the pattern I am convinced it is their economic policy established under the direction of Reagan/Bush.

Bush/Cheney accomplished a remarkable achievement by destroying the world economy which of course makes it difficult for the USA to bounce back quickly. The question becomes how in the world did they sucker financial institutions worldwide into buying bundles upon bundles upon bundles of bad USA home loans worth trillions of dollars in bad debt?

What an incredible and criminally insane economic policy? I don't believe the entire world can afford the economically reckless republican party that was born in 1980.

Let's talk about entitlements that literally destroyed jobs,economies,retirement plans. And made owning a home a risky investment - now that is remarkable.

--- This ENTITLEMENT - Bailing out The Reagan/Bush Savings and Loan Heist aka home loan scandal sent the economy out the window costing taxpayers many many $$ trillions (Cost taxpayers $1.4 trillion), Plus millions of jobs, loss of retirement plans and loss of medical insurance. http://rationalrevolution0.tripod.com/war/bush_family_and_the_s.htm

--- This ENTITLEMENT Bailing out the Bush/Cheney Home Loan Wall Street Bank Fraud cost consumers $ trillions, millions of jobs, loss of retirement plans and loss of medical insurance. Exactly like the Reagan/Bush home loan scam. Déjà vu can we say. Yep seems to be a pattern. http://www.dollarsandsense.org/archives/2009/0709macewan.html

--- This ENTITLEMENT - Bush/Cheney implied many financial institutions were at risk instead of only 3? One of the biggest lies perpetrated to American citizens. Where did this money go? Why were some banks forced to take bail out money? http://www.democracynow.org/2009/9/10/good_billions_after_bad_one_year

Is the market value of your home worth less than your mortgage? How much market value have home owners lost since 2007?

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Richard Heckler 1 year, 6 months ago

Memo To Mitt Romney: The 47% Pay Taxes Too

From FORBES

Of course, it goes without saying, that those folks who aren’t paying federal taxes are almost all paying state and local taxes—state sales taxes, real estate taxes (either on their homes or built into their rents) and possibly state income taxes too, since those taxes tend to exempt fewer poor families than does the federal income tax. If they buy gasoline, liquor or tobacco, or have telephones, they’re also feeding the federal purse.

So maybe a higher share of the American public should be paying at least some amount of federal income tax. The tax code would be simpler, and probably fairer, if we reduced the number of tax expenditures for the wealthy and non-wealthy alike. We all might give more thought to spending restraint.

Then, too, we’re all protected by the military and rely on public infrastructure to get to our jobs, schools, stores and doctors—and yes, to build our businesses.

http://www.forbes.com/sites/janetnovack/2012/09/17/memo-to-mitt-romney-the-47-pay-taxes-too/

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JonasGrumby 1 year, 6 months ago

This letter is a bit disjointed.

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