The Fed Shutdown Poll and Megathread

[DGuller]

I really wish that Dems would get serious about tax increases, if that's their solution.  Raising taxes on $250k+ isn't really going to cut it, the Bush tax cuts that gutted federal income were much more broad-based than that.  To be clear, Democrats can never approach the lack of seriousness of the Republicans on that matter, but you'd hope they wouldn't use Republicans as their sole benchmark.

[DGuller]

The problem is that we currently have an extremely progressive tax system which will always lead to wild swings in revenue.  We need a broader, lower tax base instead of the high marginal rate tax system we have now, which would ensure a more stable tax income than the current feast or famine system.  Curiously, changes in income tax rates over the last few decades have had almost no impact on federal revenue on the aggregate, except for the increasingly wild swings in revenue during the economic cycle.

Extremely progressive?  You have got to be kidding.  Think of all the taxes people pay:  income tax, SS/Medicare, investment income, sales taxes, or property taxes.  Not all of those are federal taxes, but at the end of the day those taxes have to be paid.  Only the income tax is progressive of the bunch.  The rest are flat or regressive.  The totality of them is hardly "extremely progressive".  Think before you plagiarize some groupthink tank talking point.

[Admiral Yi]

I really wish that Dems would get serious about tax increases, if that's their solution.  Raising taxes on $250k+ isn't really going to cut it, the Bush tax cuts that gutted federal income were much more broad-based than that. 

Good for you.

To be clear, Democrats can never approach the lack of seriousness of the Republicans on that matter, but you'd hope they wouldn't use Republicans as their sole benchmark.

You're a kook.

[MadImmortalMan]

The problem is that we currently have an extremely progressive tax system which will always lead to wild swings in revenue.  We need a broader, lower tax base instead of the high marginal rate tax system we have now, which would ensure a more stable tax income than the current feast or famine system.  Curiously, changes in income tax rates over the last few decades have had almost no impact on federal revenue on the aggregate, except for the increasingly wild swings in revenue during the economic cycle.

Extremely progressive?  You have got to be kidding.  Think of all the taxes people pay:  income tax, SS/Medicare, investment income, sales taxes, or property taxes.  Not all of those are federal taxes, but at the end of the day those taxes have to be paid.  Only the income tax is progressive of the bunch.  The rest are flat or regressive.  The totality of them is hardly "extremely progressive".  Think before you plagiarize some groupthink tank talking point.

If you look at only federal income tax I guess.

[CountDeMoney]

I think Obama's plan is superduper.  Bleed the fucking rich.

[MadImmortalMan]

I think Obama's plan is superduper.  Bleed the fucking rich.

They don't have enough money to take, unfortunately.

[CountDeMoney]

I think Obama's plan is superduper.  Bleed the fucking rich.

They don't have enough money to take, unfortunately.

Then get their assbuddies the corporations.  What's the worse that can happen?  They already outsource, so we don't have to worry about "the jobs", which Republicans don't care about anyway.

[Admiral Yi]

I think Obama's plan is superduper.  Bleed the fucking rich.

That would be fine.  Put a plan on the table that bleeds the fucking rich of every penny they have.  But don't put one on the table that reduces the deficit by three dollars and eighty-five cents over ten years.  That number is a fucking joke.

[Neil]

You're a kook.

Based on that?  I mean, obviously Dorsey is a kook, but no one can deny that the Republican tax strategies haven't been very successful.

[Admiral Yi]

Based on that?  I mean, obviously Dorsey is a kook, but no one can deny that the Republican tax strategies haven't been very successful.

I take it back.  Me culpa.  I thought he said Democrats were more serious about deficit reduction.

[CountDeMoney]

I think Obama's plan is superduper.  Bleed the fucking rich.

That would be fine.  Put a plan on the table that bleeds the fucking rich of every penny they have.  But don't put one on the table that reduces the deficit by three dollars and eighty-five cents over ten years.  That number is a fucking joke.

The staggering, apocalyptic cuts in the deficit the GOP are parroting (without revenue increases, of course) would be too destabilizing. 
It has to go nice and slow, so's you don't feel it coming out as much.

[Habbaku]

I think Obama's plan is superduper.  Bleed the fucking rich.

They don't have enough money to take, unfortunately.

Then get their assbuddies the corporations.  What's the worse that can happen?  They already outsource, so we don't have to worry about "the jobs", which Republicans don't care about anyway.

So taxing, say, 75% of the profits of corporations and, say, 90% of income of "the rich" should cover the deficit, right?

[MadImmortalMan]

So taxing, say, 75% of the profits of corporations and, say, 90% of income of "the rich" should cover the deficit, right?

This is going into goofytown now.

[Hansmeister]

I think Obama's plan is superduper.  Bleed the fucking rich.

They don't have enough money to take, unfortunately.

Then get their assbuddies the corporations.  What's the worse that can happen?  They already outsource, so we don't have to worry about "the jobs", which Republicans don't care about anyway.

So taxing, say, 75% of the profits of corporations and, say, 90% of income of "the rich" should cover the deficit, right?

Well http://www.youtube.com/watch?v=661pi6K-8WQ this is a graphic illustration how this is of course utter nonsense.

[Admiral Yi]

The staggering, apocalyptic cuts in the deficit the GOP are parroting (without revenue increases, of course) would be too destabilizing. 
It has to go nice and slow, so's you don't feel it coming out as much.

You know what would be destabalizing?  A junk rating on Treasuries, that's what.