"Won't Kill Country If We Raise Taxes A Little Bit On Millionaires"


#1

BILL KRISTOL: The leadership in the Republican party and the leadership in the conservative movement have to pull back. Let people float new ideas, let’s have a serious debate. Don’t scream and yell when one person says, ‘You know what? It won’t kill the country if we raise taxes a little bit on millionaires.’ It really won’t, I don’t think.

I don’t really understand why Republicans don’t take Obama’s offer to freeze taxes for everyone below $250,000 – make it $500,000, make it a million. Really? The Republican Party is going to fall on its sword to defend a bunch of millionaires, half of whom voted Democratic and half of whom live in Hollywood and are hostile to Republican principles.

Kristol: “Won’t Kill The Country If We Raise Taxes A Little Bit On Millionaires” | RealClearPolitics

What these guys fail to realize is that Obama is already raising taxes on people below $250,000. All this is smoke and mirrors because it has no meaning because Obama will tax across the board.


#2

Maybe we should raise taxes and not borrow money as much.


#3

What have I been saying?

The Neoconservatives like Bill Kristol are really progressives who infiltrated the GOP to implement their foreign policy interventionism.


#4

Raising taxes on millionaires won’t “kill the country”, it will however further stagnate the economy.

The real discussion should be what good will come from raising taxes on millionaires.

The debt will not be reduced even if Obama gets this tax so why are Republicans not arguing how pointless this is and asking what possible benefit this action could bring?

That was rhetorical, the obvious answer is that the GOP are as committed to big government control as the demoncrat’s.


#5

Now, why didn’t anybody ever think of that before?


#6

Maybe we should raise taxes and not borrow money as much.

If you raise taxes, you won’t raise any more revenue but you will lower GDP.

But I am all for it, congress should hike taxes on everyone in the name of getting responsible and paying for obamacare.

Just let them take whatever they want, in fact, and run the nation bankrupt. I want the country to turn to Greece sooner rather than later…


#7

This assumes the current tax level is either ideal or already taxed too much, which I’m guessing it is not. I think we can tax more without stagnating the economy.


#8

You assume that the economy is much different than it was when taxes were higher and revenues were the same while growth was sluggish.

The only question you have to ask is if the world economy is more competitive now or when taxes were higher?

This is especially true at a time when the economy is terrible here but not too bad in many other countries. People already don’t want to do business here and are going to do even less if you make them pay even more for the privilege.

But like I said, let them raise taxes to whatever level they want, the sooner they finish the country off, the better.


#9

Maybe we should raise taxes and not borrow money as much.

Better yet, cut spending to match revenue! The raise taxes without cutting spending method has been tried over and over and over and … since FDR and maybe even Wilson. It doesn’t work! The quote in my signature explains why it cannot.


#10

Why don’t we tax consumption instead and take away one of the political bludgeons both sides have.


#11

[quote=“Chief_Dork, post:10, topic:37063”]
Why don’t we tax consumption instead and take away one of the political bludgeons both sides have.
[/quote]I agree.


#12

From your mouth to Gods ears, or at least the ears of a viable Conservative Party.


#13

Taxes probably will go up, and they’ll probably go up disproportionately on higher incomes, as they probably should, but…

Taxes cannot go up until there are serious spending cuts, cuts far in excess of any expected revenues from tax increases, and those cuts have to come first. That is the only basis for a bipartisan effort at budget balancing.

A tax increase on upper incomes, assuming it’s of modest nature, is probably not going to materially effect reinvestment and economic growth, despite all the hyperbole to the contrary. But, it is unconscionable to even consider one without massive spending cuts occurring first. Occurring, not just promised.


#14

The politicians will never go for it. That would be like asking a heroine addict to give up a source of free, high quality smack…


#15

But I am all for it, congress should hike taxes on everyone in the name of getting responsible and paying for obamacare.

I agree, Eleph. The best thing the GOP can do right now is make sure that all taxpayers know that the price of profligate spending is higher taxes. Raising taxes on millionaires while letting everyone else keep all their “free” stuff just perpetuates the irresponsibility. We have the rare opportunity - just by doing nothing - to raise the rates of all who pay income and payroll taxes, not just the “rich”. No, I won’t like to dig deeper, but at least everyone else will be sharing my pain. And the lesson will be clear - there’s nothing “free” about all this stuff we keep demanding.

And maybe, just maybe, if everyone gets clobbered there would be enough pressure brought to bear to finally address entitlement reform.


#16

Folks, you don’t feed addicts’ habits! Not a heroin addict, not an alcoholic, not a spendaholic politician! Congress always increases spending by more than the projected revenue increase (which never is realized, because tax rates are already much higher than what is optimal). Starve the spendaholics’ habit! No tax increases, period. On anybody!


#17

I along with many others have been advocating that for some time. If you want to lower your tax burden, just purchase less. And the “rich” will still be paying more, because they will purchase more.


#18

We already have consumption taxes. They’re sales taxes, and I doubt many businesses would be keen for a rise on sales tax.


#19

That’s a nice thought. I’ll believe it when I see it, though. Entitlement reform will not be addressed until after a complete collapse. Ditto congress’s spending habit.


#20

I say let the Bush tax cuts expire; ALL of them.

If the left thinks taxes are such a good thing, then lets have some taxes. There are too many people with no skin in the game anyway. They need to start paying.