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Shocker: GOP Wants Lower Taxes On The 1%

by The Reverend on January 17, 2012

in 2012 election,class warfare,economy,GOP primaries,Mitt Romney,Newt Gingrich,Ron Paul,tax cuts,unemployment

Seriously…..can you remember an election cycle when there were so many primary debates? Last night it was sponsored by the GOP-owned teevee network….Fox News. Transcript is here.

BAIER: I’d like to ask a question about keeping money for all of the candidates down the line. What is the highest federal income tax any American should have to pay? We are looking for a number.
Governor?

PERRY: Seven 7 percent flat tax. Simple. Keep it simple.
BAIER: Senator Santorum?
SANTORUM: Well, my plan has two rates, 10 and 28 percent, which is the highest rate under Ronald Reagan when he cut taxes.
BAIER: Governor Romney.
ROMNEY: I would like 25 percent, but right now it’s at 35, so people better pay what is legally required. But ultimately let’s get it down to as low as we possibly can, if it’s 20, if it’s 25 but paying more than 25 percent, I think, is taking too much out of our pockets.
BAIER: So the highest you had was 35?
ROMNEY: Well, that’s what the law is right now, but 25 is where I would like to see us go.
BAIER: Speaker Gingrich.
GINGRICH: I would like to see it be a flat tax at 15 percent and I would like to see us reduce government to meet the revenue, not raise revenue to meet the government.
BAIER: Congressman Paul.
PAUL: Well, we should have the lowest tax that we’ve ever had, and up until 1913 it was 0 percent. What’s so bad about that?

In other parts of the debate, the GOP candidates repeated the only other idea that Republicans have….I mean other than lowering taxes on the already wealthy. The only other idea that Republicans have is to cut government spending. The reason Republicans want to cut government spending is….wait for it….so they can reduce taxes on the already wealthy.

All the talk in last night's "debate" about shuttering federal departments and cutting back on the number of weeks the unemployed receive checks, etc, etc,…..was for the purpose, the objective, of lowering government spending IN ORDER TO cut taxes further on America's already wealthy.

Notice in Brett Boy's question that he didn't ask what middle class tax rates should be, did he? Brett Boy only asked what should the highest tax rate be? Inherent in the question was the deep and sincere concern that Republicans, and those who shill for Republicans, have for America's wealthy….at best, the top 2%.

Santorum's suggestion was the smallest decrease for the already-rich. Paul's was the biggest. Ron Paul, if words mean anything, wants to eliminate the income tax altogether. But the frontrunner and soon-to-be GOP presidential candidate, Mitt Romney, would lower income tax rates on the already-rich to 25%. That would reflect a reduction of 10 percentage points….which means that Mitt Romney would cut the income taxes of the already-rich by about one third.

The already-rich in America are paying income tax rates…right now…that are at 60 year national lows. At the same time, income disparity in the United States has never been so gapped in favor of those already-rich. What that all means to GOP hopefuls is that tax rates on the already-rich are too high….and, apparently, the income disparity gap is still too small. Don't ask me, I can't understand it either.

The corollary of Republican's deep, heartfelt desire to lower income tax rates on the already-rich is the entirely bogus belief that the already-rich in America are our nation's jaaabbb creators. The notion being that the already-rich can't create any new jaaabs if they don't see a reduction in their 60 year low tax rates.

And that's where the GOP hopefuls' heartfelt care and concern for the already-rich hits the harsh shores of reality.

The last GOP administration lowered income tax rates. The already-rich benefited the most from those tax cuts. To boot, the last administration also lowered capital gains and dividend tax rates down to 15%, affecting primarily the already-rich,…..making it possible for people like Warren Buffett…and Mitt Romney….to pay taxes at a lower rate than millions of middle class workers. (Note: that's the reason Romney is refusing to release his tax returns….he's paying at the 15% rate, which is a lower rate than the janitor pays who Newt wants to fire and replace with students.)

And yet, with those deep tax cuts on the already-rich firmly in place for 10 years now……and after a GOP administration which oversaw the most meager job creation over 8 years in modern U.S. history….GOP presidential hopefuls for 2012, like dogs back to their own vomit, are recommending more and deeper tax cuts on those already-rich.

America, as I have repeated umpteen times….is in the middle of a jobs recession because demand for goods and services is too low. Almost 70% of our economic activity is created by consumer demand. When Americans do not have jobs they cannot stimulate demand as we're used to in better times. No matter how far income tax rates are lowered on the already-rich……demand will not be affected. If income tax rates on the already-rich are lowered to zero……demand for goods and services will still not be affected. Those alleged jaaabb creators will still have no reason to hire new workers. They will just have larger bank accounts and trust funds….that's it.

So, in summary…..I don't know who Romney and the Gang are representing when they argue for even lower tax rates on the already-wildly-rich. Tax cuts on the wealthy NEVER result in more jobs being created. The reason? It isn't the rich that stimulates and maintains demand in our economy…it is all the rest of us…the 99%. It is the millions of average workers in America who create market demand…..and for GOP presidential hopefuls to offer even lower income tax rates on the already-rich as some kind of magical cure for our national economy…is one of the biggest disconnects the GOP has with reality.

  • Anonymous

    They all seem to want lower tax rates on everyone who pays them, Reverend. What's wrong with that?

  • Anonymous

    Whats wrong with that ????
    The government cant run on air.
     It means BIG Pot holes  crummy roads besides other things and the republican plan is for the middle class to keep paying taxes at their same rate or more. Flat tax of 15 % which means no deductions ? Right now families earning 
    $50,000 and $75,000 pay an average of 15 percent of their income in federal taxes.
    households making between $40,000 and $50,000 pay an average of 12.5 percent of their income so he wants them to actually pay more in taxes to off set the rich who get a bargain. Not to mention all the tax loop holes the rich have to hide income. So reality is the rich never pay what you think they are paying in taxes anyway . They pay much less than they claim

  • Anonymous

    The Republican plan is low taxes for everyone and responsible spending, Andrea. Sorry if that inconveniences you. Frankly, I think some quality time with your infirm mother might do you some good.

  • Anonymous

    How is their plan to lower taxes for everyone when some people pay less than what they propose with a flat tax. BTW if you haven't heard Romney says he probably paid about 15 % in taxes – that makes him equal to someone earning  50 k.  
    So you think billionaires pay to much in taxes ? "Tax loop holes"  read up about them .
    Republican plan is for the rich to get richer  that's all.
    Larry the roads are icey tonight make sure you drive fast.

  • Anonymous

    Without commenting on what the proper tax rates should be, I suspect that the American perception of the Republicans as favoring lower taxes for the rich is going to cost the GOP a fair number of votes next November.  Whether it will swing the election Obama's way is hard to say, but if anyone truly believes that getting him out of office is important, then the thinking should be along the lines of what platform statement regarding taxes will save as many votes as possible for Mitt or (whoever).  If Detroit has a banner year and it starts to look like the economy is beginning to recover,  you'll need every vote you can get.

  • Anonymous

    Your violent anger is duly noted, Andrea. From the Nazis, to Stalin, to the Khmer Rouge, to today's democrats, progressives always end up trying to eliminate their political opponents through that kind of "final solution," so it's not surprising that you'd publicly call for my death.

    I plainly stated Repubs want lower taxes for everyone who pays them. Non-taxpaying folks who don't want to be inconvenienced by family and whatnot might not like a more equitable system, for sure.

  • Anonymous

    Maybe a majority of voters want to do what's right for once. There's no sense in continuing down the road to ruin in the interest of appearing moderate or appealing to the lowest denominator anymore.

  • Anonymous

    Maybe you have a  reading problem If Gringrich wants a 15% flat tax rate that is Not lowering taxes for everyone – many people pay taxes of a rate lower than 15 % > he is a Republican.

    My statement about driving at nite was in response to yours about  spending more time with my mom would do me some good.
    Republicans have no sense of humor  - many  even think Stephen Colbert is really a Republican and dont know he is joking

  • Anonymous

    Responsible spending? Give me a break, larry. Every single tax cut instituted by Republicans since Reagan has led to LARGER deficits. Republicans are bald-faced lying when they claim we can cut our way to budget health while simultaneously cutting taxes.

  • Anonymous

    Doing what's right is lowering tax rates by one third on the wealthiest. The same wealthiest who have pulled away from the 99% by a huge margin in the last 20 years.

    Yeah……i guess that would be "doing what's right" for the 1%.

  • Anonymous

    Death threats and the like aren't that funny to anyone but progressives, Andrea.

  • Anonymous

    Progressives always scoff at the notion of responsible spending, aj, so your response of course doesn't surprise me at all. Most repubs aren't serious about it, as evidenced by the joke of a "cuts" program they recently agreed to. But spending can and must be cut.

  • Anonymous

    Doing what's right means throwing out the cheap demonization and class warfare rhetoric lemmings like you slurp up, Reverend.

  • Anonymous

    The road to ruin is the one the Republicans steered us on with the Bush tax cuts and two wars… all three funded entirely with deficit spending. The wars are winding down, thank God, but the Bush tax cuts will be putting a stranglehold on our budget and our economy for the foreseeable future.

    And the Republicans' answer is MORE TAX CUTS(!), especially for the wealthiest.

    They are liars, pure and simple, who hope continuing to blow up the budget deficit so grotesquely will leave the country in such dire peril that they can one day use that as the excuse to finally dismantle Social Security, Medicare, Medicaid and every other government program or agency they don't like like. And who cares if destruction of the already declining American middle class, the overall economy and America's standing in the world are the result? Such collateral damage in the cause against "socialism" seems worth it, in their despicable eyes.

    Fortunately, larry, NEF is onto a substantial issue. People are beginning to understand what the true Republican agenda is, and has long been. The lunacy and one-sidedness of Republican policy on taxes is just the tip of the iceberg, but it's a substantial chunk of that iceberg nevertheless. And the need for Romney or any other nominee to toe that patently un-credible party line is probably the major reason why Obama will be re-elected.

  • Anonymous

    You can not solve the long-term budget-deficit issue with spending cuts alone. And you certainly can't do it while simultaneously reducing revenue at the same time, which is what Republicans propose.

  • Anonymous

    You can not solve the long-term budget-deficit issue
    with spending cuts alone. And you certainly can't do it while
    simultaneously reducing revenue at the same time, which is what
    Republicans propose. (This is in reply to larry, below. For some reason, it's misplaced)

  • Anonymous

    Tax cuts don't require funding of any sort. It's difficult to debate issues in a serious way when lemmings like yourself have accepted the status quo and won't deviate from its erroneous terminology and assumptions. Keep on with the envious class warfare rhetoric and see how happy that makes you.

  • Anonymous

    There haven't been any spending cuts whatsoever. Raising taxes only leads to more spending. It's time to get off that merry-go-round.

  • Anonymous

    Cheap demonization? You mean like comparing Democrats and progressives to the greatest mass murderers in history? (Like you just did below.)

    Class warfare? You mean like cutting taxes for the wealthiest while raising taxes on and reducing services to the poorest? (Like the Republican Party wants to do.)

  • Anonymous

    Ending the war in Iraq, which Republicans opposed, is significantly reducing spending as we speak. Over the long term, more cuts, consolidations and efficiencies certainly will need to be made. But that's only one side of the ledger. More revenue will be needed, too.

  • Anonymous

    The leftist progressive ideology always leads to genocide and mass murder, aj. It also leads to violence and hate in its lemming followers, as Andrea so vividly illustrates below. Pointing out those  dangers isn't demonization.

    The wealthiest pay far more than their share. Even if we seized all their money and property, we'd be right where we are now in a year. Demonizing them doesn't help anything and is only meant to rile up the less successful and/or hateful types. Unfortunately, it works on many Americans.

  • Anonymous

    Expansionary austerity.

    Ask the English, the Irish and the Greeks how that's working out for 'em.

    Democrats have partially redeemed themselves by delaying any huge near term spending cuts. Spending cuts are fine….but not when unemployment is 8.5%.

    Republicans want to blow the place up. Learn from the mistakes European, first-world countries are making.

  • Anonymous

    How is it being a lemming when one is simply pointing out the huge income disparity that exists in America? I don't get that.

    Yeah, government spends too much, yes. AND we are the world's only superpower and also the world's largest economy with an annual GDP of $15 trillion. AND over the last 30 years, the wealthiest in America have never had it so good. This is especially true of the Romney types. 15% tax rate, hell, that ain't no thing.

    Meanwhile, revenue can't be found to pay for the sick, the unemployed or the elderly.

    And doubling the military is fine.

    One would have to be, how did you put it?…a lemming, to not see the problem.

  • Anonymous

    No. It is not "demonizing" the wealthy by pointing out disparity gaps or historically low tax rates. Either demonstrate how all those income disparity and wealth charts are inaccurate, or explain how it is that these huge disparities exist.

    P.S. Your comments are, more often than not, examples of what demonizing looks like.

  • Anonymous

    You mean funny like "those WMDs must be around here somewhere, Barney"…funny? Funny like that?

  • Anonymous

    There's plenty of revenue. Our politicians have proven they'll always spend more than they collect, and on the wrong things. We need to stop simply giving them more.

    Blaming the rich is beside the point, as seizing every penny they have would get us nowhere. You're easily distracted by propaganda and rhetoric, maybe because you covet or are basically disappointed in life, or maybe just because you're a hater.

  • Anonymous

    You hate the wealthy because you're disappointed in life, I fear. It makes you vulnerable to propaganda and hate rhetoric. It won't lead to happiness, but of course your overlords have no interest in that.

  • Anonymous

    No, I was referring to Andrea's wish that I be hurt or killed because she disagrees with me in regard to politics. It's pretty typical of democrats and progressives, I've noticed, and akin to the kind of genocide and mass murder progressives have become known for.

  • Anonymous

    If you cut tax revenues and increase spending, which is what GW Bush did IN SPADES (two wars, a disastrously structured drug plan for Medicare, etc.), you wind up squandering what was once a surplus and create exactly what we have now. It's simple arithmetic, larry, and it's pretty easy for most people to understand.

    Now, what the Republicans are proposing is still MORE of this very same nonsense. Fortunately, people are finally starting to see this mumbo-jumbo for what it is, a sure prescription for turning a difficult situation into an out-and-out calamity.

    And opposing this stupidity isn't about class warfare. It's simply about returning to a tax structure that not only makes a lot more sense, but was the basis for the government running at a surplus for the only time in most Americans' memory. Will significant cuts need to be made over time? Heck yeah. But not, as the Rev points out, while unemployment remains far too high.

    The only silver lining I see today is that Republican fantasies about taxes, spending and economic policy are so patently ludicrous and fantastical that only lemmings like you will be able to vote for their nominee, which gives Obama a far better than even shot at re-election.

  • Anonymous

    I haven't seen the Republican plan that includes more wars or more braindead socialized medicine plans, aj. That's been Obama these past few years.

    Spending needs to be cut. Taxing the rich cannot make up for the profligate spending that's become habit in Washington. Until we get some politicians who can cut spending, trying to keep pace with tax hikes is a fool's game that will only impoverish the nation further.

    The democrat plan has failed miserably. It's the worst "recovery" since FDR's.

  • Anonymous

    When Clinton and the Republicans under Newt got together and set up a sensible tax and spending plan in 1993, the economy boomed and the budget achieved surplus in six years.

    We jumped on the merry-go-round you're referring to with the Bush tax cuts. You might want to get off of it, larry, but your Republican heroes are hellbent on ensuring that we stay on until they can force the country to do their bidding whether the country wants to or not. That's the reality. They are duplicitous liars, and they have no business in power.

  • Anonymous

     what death threat ? now I know for sure u are off your rocker

  • Anonymous

    Republicans wanted to stay in Iraq indefinitely, larry. Quite a few of them would like to start a new war with Iran. A few on the bathsh*t fringe would probabaly not be opposed to a few other wars, too. And, lest we forget, Medicare part D with no negotiations on prices was their idiot plan, too.

    As for "the democrat plan," it has been largely stymied every step of the way by the very same morons who created this mess in the first place. But as I've pointed out several times, I believe keeping the mess alive is exactly what they want.

  • Anonymous

    I'm not scoffing at responsible spending, larry.

    I'm scoffing at the Republican idea that we can solve our budget-deficit problems, whether in the short or the long term, by cutting spending and cutting taxes all at the same time. I mean, it would be laughable if the guaranteed consequences of such a moronic policy were not so dire.

    And if most Republicans, as you say, are not serious about cutting spending, then what do you expect will happen to the budget deficit if they follow though on their plans to decrease taxes further still?

    I fear you're living in a dream world, larry. You need to wake up and grab a hot cup of coffee.

  • Anonymous

    There's a lot of hate in your post, aj.

    Fact is, many republicans have been proposing real cuts, only to be cut down by the powers that be. These folks are always ridiculed, called racists, hicks, religious freaks, etc., etc., by the media, the democrats and their lemmings. Many of the current GOP politicians are just as bad, but the road to fiscal responsibility certainly doesn't lie with the current crop of Dems, who refuse to even write a budget. I can't take anyone who think it does very seriously, to be honest.

  • Anonymous

    You plainly expressed the wish that I be injured or killed in an automobile accident, Andrea. "And the like" covers that in my previous post.

    The fact that there's no ice in Florida where I drive makes you hilariously ill-informed, but not innocent. That's pretty much par for the course.

  • Anonymous

    A top marginal tax rate of 35% hardly constitutes the seizure of all of anyone's money and property, larry. Indeed, it's a rather low rate by historical standards.

    And pointing out that the richest among us are doing quite nicely, even in a poor economy, is not demonizing them. Nor is it hateful. It merely illustrates the point that the richest among us are in a unique position to do more to help get our country out of the mess it is currently in and acknowledges the errors that were the Bush tax cuts.

    What's hateful is referring to poor people as "bottom feeders." What's hateful is referring to the unemployed or old people or the disabled living on Social Security as "leeches." What's hateful is referring to hard-working working men and women in working-class jobs that pay less and less with each passing year as "losers." Your side makes such references all the time.

  • Anonymous

    Thirty five percent is a ridiculously high rate to hand over to the government. Only a lemming would think otherwise.

    I'm glad some of my fellow Americans are doing well and enjoying life. You should ask yourself why it irritates you so much. I wish you well but you're obviously not on a path of illumination or happiness.

  • Anonymous

    Not hate. Just an honest assessment of some very dishonest people whose actions do not jibe with reality. Republicans have done absolutely nothing to try to arrive at any bi-partisan approach to solving our problems. All they have done is, like spoiled toddlers, demand their way or no way… and to hell with the country in the process.

    And how can the dems write a budget when Republicans control the House where budgets are written and the Senate is continually hijacked by filibuster after filibuster?

    The Republicans fiddle, while America burns. They should be ashamed, but of course, they're quite proud of themselves.

  • Anonymous

    The 35% rate is a marginal rate, larry. No one would pay that rate on all their income. That's not how marginal tax rates work.

    And I'm glad some of my fellow Americans are doing well, too. It doesn't irritate me. I just think it's fair to ask them to do more to help our country when it's in need. And it is in need.

  • Anonymous

    You've been snookered by propaganda due to the hate in your heart. I hope you find a happier way at some point.

  • Anonymous

    There's no reason any income should be taxed at 35 percent, aj. Just cause some folks are more successful doesn't mean they should be punished.

    In any case, you've no right to ask anyone to do more than yourself. That's a path that leads to anger and unhappiness. If you would instead focus your energy on finding ways you yourself could do more, you'd find much more happiness in life.

  • Anonymous

    I have every right to ask it. And our elected government has every right to implement any tax code it deems appropriate. The levels I'm advocating are far lower than others that have been used before. And they were proven effective.

    What you and your Republican pals advocate has been proven ruinous and counterproductive.

  • Anonymous

    No one is "blaming" the rich. That's where you drift away from the point, either by accident or purposely. Were GOP governors blaming union workers when they slashed pensions and increased health care deductibles and took away collective bargaining? Or were GOP governors trying to balance their state budgets?

    Same applies to returning to Clinton era tax rates. We need the revenue. The Bush tax cuts made W start borrowing money before 2001 was over. Those cuts NEVER paid for themselves and are responsible for much of the huge increase in debt which followed.

  • Anonymous

    "disappointed in life"

    Thanks for that analysis Dr. larry.

    I keep remembering how you always say it's not personal for you. Oh, well.

    Your closest aligned political party is a goddamn embarrassment, larry. Deal with it.

  • Anonymous

    Have you lost your sense of humor? Or does it just conveniently come and go?

  • Anonymous

    You can ask all you want, but the whining and whatnot doesn't mean a lot.

    The government does not have the "right" to implement anything. Your attitude in this regard is far removed from the basic values our nation was founded upon. It's a feudal mindset that's dangerous and leads to tyranny.

  • Anonymous

    You in fact claimed many times that GOP governors were blaming workers, Reverend.

    You also blame "the rich" nearly every day.

    Your dishonesty and hypocrisy is breathtaking, but no longer surprising.

  • Anonymous

    Like I said, wishing injury or death on folks is only regarded as "humor" among the unhappy progressives.

  • Anonymous

    Dr. larry.

  • Anonymous

    Never mind.

  • Anonymous

    All in defense of the few at the top.

    Quite something.

  • Anonymous

    Bush and the WMD thing?

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