The Refutation of the “Republican Revolution” – Part 2


Part 2.

 

 

 

 

 

 

 

 

 

 

 

This one just doesn’t make any sense; it is quintessential right-wing propaganda.  I think the message is the President has raised our taxes increasing the debt  by 1.8 trillion dollars.  Or maybe it is saying he has increased taxes by the amount of 1.8 trillion dollars, which is just odd wording. Regardless, the poster is trying to purport a tax and spend liberal who is making enemies.

This poster is confusing because the actual facts make its message meaningless.  First, let’s just be clear, raising taxes reduces the deficit not raise it.  Second, the President really hasn’t raised taxes.  He increased a tax on tobacco and he increased a tax on tanning beds.  This is actually smart because both of those goods are inelastic.  Meaning even as the price goes up the demand will not go down. So revenue for businesses will not decrease and revenue for the government will increase.  He also closed loopholes for big corporations, which is technically considered a tax increase.  The thing is these are ticky-tack tax raises and I highly doubt this is what the message of the poster is trying to convey.

The maker of this poster is far more delusional.  Raising taxes usually refers to raising taxes on individuals and corporations. And here’s where the poster just doesn’t want to believe facts.  The president has not touched the corporate tax rate. Concerning individual tax rates he actually decreased them.  The Bush era tax cuts were extended and he instituted the payroll tax cut.

So once again we have Republicans spouting their ideological beliefs based on no factual information.

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11 thoughts on “The Refutation of the “Republican Revolution” – Part 2

  1. Todays post is looking in the rear view mirror.

    The GOP poster is looking forward based on Obama’s budget he released last week. It is warning people that Obama’s plan in his very own budget will increase taxes on everyone. Here are some highlights:

    • ObamaCare alone includes 20 separate tax hikes.

    • Tax rates on most small businesses are expected to go up to 39.6% from 35%.

    • Tax rates on capital gains, the fuel for economic and job growth, will jump to 23.8% from 15%.

    • Rates on dividends surge to 43.4% from 15% and these profits have already been taxed at the 35% corporate tax rate – double taxation.

    • The death tax will jump to 45% from 35%. Again double taxation since this wealth was taxed throughout our life.

    • Large businesses will take a job-killing $147 billion tax hit as the U.S. double-taxes overseas profits.

    • Families will pay a $100 billion energy tax over the next decade as oil, gas and coal companies get hit with new levies that they will simply pass on to consumers.

    So the point of the poster is that Obama will be even more to the left when he doesn’t have to worry about relection in a 2nd term. The the poster is totally appropriate.

    • Obama’s plan will increase the deficit in the short run as it should. The economy is still recovering and is incredibly fragile. Even with that the proposal reduces the deficit by 4 trillion dollars in the next decade, which is more than I can say about the GOP candidate’s plans.

      Also, this continued belief that lower taxes automatically means more growth has no factual backing. Economists agree both growth and decline are not entirely caused by tax rates. The economy is much more complicated. However, tax revenues can provide things like healthcare, better infrastructure and all the other government programs we take for granted.

  2. So I guess you agree the poster makes sense now. It is forward looking not backward looking.

    I agree the deficit will need to continue in the short run but Obama’s doing it thru more spending which is not the answer. We tried this and it didn’t work.

    He needs to send signals to the private sector that he his supportive and not picking winners and losers. He needs to assure them that the current tax rates will stay the same or be lower.

    The private sector is looking for certainty. This president doesn’t provide any certainty with all these temporary tax decisions (e,g, extend Bush tax cuts for another year, extend payroll tax for another year). That is why the recover is so slow. Business don’t trust that the risk they are taking will benefit their shareholders and not be taken away with higher taxes in the future.

  3. I checked out the Facebook site and the poster. i don’t see how you determined it was referencing the 2010 budget. It is clearly looking ahead not back.

    Also, the 2010 budget was the last Budget passed by the Dems. The Dems controlled both chambers during the 2011 budget process (Fall of 2010) but were afraid to pass a budget during the mid term elections.

    The GOP lead house then pass a budget for fiscal 2012 but again the Dem lead Senate did not their job during the 2012 budget process. Now Reid said he won’t pass a 2013 budget because it is another election year (the GOP house is committed to passing a 2012 budget on time this year). Why won’t the Dems pass a budget? Maybe because they have no answers to our spending problems and without a budget they can just spend, spend, spend.

  4. Ok. I see it was developed back in 2009 and should have read “What enemies do you get with a a $1.8 Trillion deficit (not a $1.8 Trillion tax increase). It was clearly trying to predict the future of Obama’s 2010 budget and future budgets – if we every get one.

    This also explains why it was so hard to find this poster on the Facebook web site. It was buried deep in the archives. Surely there is more recent items you could take exception with?

    Look forward to future debates.

  5. Your link was dated in 2009. So they must have used it against his only budget in 2010. Then then found it makes sense again going forward with Obama’s most recent budget proposal. What was correct is 2009 is still correct today. Nothing has changed.

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