Blue States fear losing tax loophole. “What’s the least defensible special break in the U.S. tax code?… If forced to pick, I might say the deduction for state and local taxes, which cost $67 billion in fiscal 2011, according to the congressional Joint Committee on Taxation.” And one that Blue State Democrats, like Nancy Pelosi and Chuck Schumer, are anxious to retain. Hey, GOP – make ’em live up to their rule book: Tax the Rich Blue Staters!
View Comments (18)
The Current Statutory U.S. Debt Limit Is $16.394 Trillion. (US Department Of The Treasury, TreasuryDirect.gov, Accessed 10/31/12)
$16.285 Trillion right now.
Nothing Obama or Congress does is going to change the fact that before the year is out we are looking at another federal credit downgrade. Forward into recession...the recession keeps on movin' forward...no stoppin' the recession.
And all the economist types say the problem isn't even so uch with the debt (though that certainly gives me pause) but we keep getting downgraded because Congress can't get their S*it together, get a budget and behave themselves in a professional manner.
Obama’s Treasury Department Is On Par To Hit The Current Debt Borrowing Limit By The End Of This Year. “U.S. Treasury officials say they still expect the government will hit the current debt borrowing limit at the end of this year.” (Martin Crutsinger, “Treasury Says Debt Limit Will Be Hit By Late 2012,” The Associated Press , 10/31/12)
Blue states fear increased taxes? Really? It is blasphemy! The profit Obama, er, president Obama has said this is good. Patriotic! Nancy & Harry Stalin say it is a good thing. WTF?
As long as I can remember, I have heard politicians, mostly Commucrats, yap about closing the loopholes used by the ultra high earners to avoid taxes. It never never never happens and only a floundering idiot can think it will happen this time. These gullible fools (Obamabots) are too stupid to see that the uber rich, Soros, Kennedy's, Hollywood, politicians, Buffet, etc, are all for higher taxes. Only a moron would think that there are not going to be loopholes that apply only to this income level, or they wouldnt be so in favor of it. Middle class, bend over again, here it comes again.
BOHICA!!!
They should have to suffer the consequences, more so than anyone else.
Liberals should be taxed at twice the rate of conservatives, I mean they are all trying to volunteer to pay more, why not let the rich liberals pay twice as much. Seems real fair to me. Double sales tax, Double income tax, triple luxury tax, and just a plain old liberal tax of say 50 percent....John Kerry would be selling Ketchup out of the back of a pickup truck and Nancy Pelosi would have to take a second job as a janitor in a nudie bar in San Francisco. And the best part is they could vote it on themselves. That would prove how patriotic they are and how much they love America, Come one liberals! Tax yourself into the poorhouse! Show some spirit, show some balls, F*ck yourself for a change!
Now we all know Socialism is for the masses, not the Socialist. Especially this bunch of crooks, a good number of them got rich from insider trading, you know, the laws they exempted themselves from.
The fun thing is, that is unecessary, liberals just need to be taxed as much as conservatives and other dissidents before they are broke and go into the poor house.
Tax them on their wealth, instead of their income. That would force a change in the tax debate. So very many progressive Dems are paid by generation skipping trust funds & from investment dividends(much in the way Romney is "paid") & pays the capital gains rate.
Now that's how the cow ate the cabbage!
More proof wealthy democrates doesn´t buy the whole paying-your-taxes-is-patriotic thing.
That's because there are no wealthy Democrats. Did you not get the message? Only conservatives are greedy 1% ers thay have no compassion, and are selfish self promoters. THEY need to be taxed more to MAKE them share their wealth. sarc/
As fun and educational as this would be, it gives me pause that it breaks the precedent of no double taxation - money previously taxed is taxed again. Ergo, it's an opening for a VAT tax - the hidden tax funding mechanism for yer standard Euro-nanny state. All in the name of increasing taxes without seeming to increase taxes. Just increase the damn taxes and believe me, the CAli-NY subjects will feel the pain more than the rest of the country.
The precedent of no double taxation was broken way long ago. The minute that state taxes were instituted on cigarettes and alcohol.
You are already paying federal taxes on those items. With sales tax added, you are triple taxed.
Exactly. If people knew exactly how much we were actually taxed, the blood would run six inches deep in DC.
Money has long been taxed when you acquire it, again when you die.