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PaulUMD said...
I've even heard some conservative economists who don't think the repatriation cut is a good idea. Encourages businesses to keep doing it because they know eventually the gov't will let the money back in at a tiny rate.
The option is just a massive pussy move...it allows him to claim that nobody's taxes have to go up. While everyone who has a brain can see that the main effect will be a massive tax cut for upper incomes and businesses, and I'm not sure where the revenue for SS/Medicare come from, even if there are cuts to both.
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frode said...
I'm not sure of the details behind the repatriation, but it sounded to me like it was a one-time-only thing.
The option isn't a pussy move; it's an option and the "claim" is true that taxes wouldn't have to go up. Several countries have an optional flat tax; Hong Kong does too.
Anyway, it's still far better than the current system and bickering over the % rate for the top bracket isn't going to solve anything. The system as a whole needs changing.
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frode said...
it's a repatriation tax cut. "Temporary" is probably a bad term for it; it's more of a one-off deal.
Regarding the optional flat tax...liberals can learn to love it because if they want to volunteer more of their money to the government, they can just choose the greater of the two.
This post was edited by Kaisersayzo on 10/25/2011 at 12:23 PM
9/21/2010...RIP Old IMS.
Kaisersayzo
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Kaisersayzo said...
Right...so basically instead of simplifying the tax code....this buffoon will essentially adding another option to it. That's brilliant. Pay this or pay that sounds like a well thought out policy.
As for the repatriation tax. Do you honestly think companies are going to close up shop overseas where they pay $2 a day in labor and can dump whatever they want into the water and sky, to come home for a one time tax break? It's a gimmick frode...a gimmick to lower the corporate rate to 20% because they know it will never have support to go back up. So basically the only thing we KNOW would happen is taxes would go up for the lower class and taxes would go down for the wealthy. All the rest of this idea would be "optional".
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frode said...
...unless you make it optional. Liberals are having a hard time wrapping their heads around this, because it involves choice and potentially lower taxes. Go figure.
The option is going to be attractive to a lot of people...and yet as Kaiser says, a flat 20% tax somehow makes the tax code more complicated?
It's an option. If you don't like it, don't take it.
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ColbertRepor said...
Choices and lower taxes? Oh come you know that is crap. The point of a flat tax is that everyone pays it so you can lower it since you are expanding your tax base. He is not expanding the tax base, he is shrinking it.
You are right about the team Perry is brining on. I think if they are smart they go hard after Cain now and get rid of him, and have Perry be the only alternative to Romney.
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frode said...
...unless you make it optional. Liberals are having a hard time wrapping their heads around this, because it involves choice and potentially lower taxes. Go figure.
The option is going to be attractive to a lot of people...and yet as Kaiser says, a flat 20% tax somehow makes the tax code more complicated?
It's an option. If you don't like it, don't take it.
9/21/2010...RIP Old IMS.
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frode said...
...unless you make it optional. Liberals are having a hard time wrapping their heads around this, because it involves choice and potentially lower taxes. Go figure.
The option is going to be attractive to a lot of people...and yet as Kaiser says, a flat 20% tax somehow makes the tax code more complicated?
It's an option. If you don't like it, don't take it.
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neal990 said...
lol at the insinuations in that. Cain was a footnote in this race for the vast majority of it. He was a punchline who polled in the margin of error. He performed well at the debates but still didn't gain much traction in support or money. His recent rise came about because the conservative/tea party wing is has been desperately looking for an alternative to Romney and their prior choices (Bachmann, Perry) were stumbling and Cain was still doing well at the debates. And even WITH his rise he still seems to have very little in the way of money or organization (see the ad Paul posted). The fascination in the media with portraying the Koch brothers as some sort of shadowy kingmakers never ceases to amaze me.
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terps99 said...
Herman Cain is that guy in high school who runs on the "eliminate homework" platform and has a bunch of people supporting him for shits and giggles, except that he's now convinced himself that he's a serious candidate and not an attention whore, and thinks his ideas deserve to be debated in the school auditorium.
This post was edited by reeceg1 on 10/26/2011 at 8:07 AM
Layman ... Jake Layman!
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Republican POTUS Candidate Thread