What does it mean when they say they want to "lower rates and broaden the base" ?
It was a Romney/Ryan talking point the whole election and I even saw a Bill Clinton interview where he mentioned this economic strategy as well.
Can someone please be specific and explain exactly what they mean? If you can post a link that's fine but I'd much prefer someone explain it in their own words. And don't be afraid to write a long post if necessary, I'll read it.
It means exactly what it sounds like. There are a good number of people who don't pay federal income tax that could be seen as potential taxees. There are your elderly, who don't pay income tax on SS. There are your poor, who make less than the earned income tax credit. There are your disabled, who get money from SSDI or a private insurance. There are your troops, who don't pay taxes on money paid to them by the federal government. So many potential ways of reducing the deficit and Obama only wants to focus on those who are making over $250,000.
The poor who get the EIC, was a Republican Idea.It was supposed to be an incentive to get unemployed people to work,It as well was a trade off for HUGE loopholes for the Plutocrats to get to not pay their faid share towards our Tax base needs....Now 20 years latter, its "socialist".
The military DOES pay federal income taxes, and medicare, and ss.
I am really offended when some of you guys post things that are 100% inacurate...I mean some come in here to get a better understanding of a subjest, dont you have a responsibility to know WTF your saying before you write something?
Broadening the tax base ,is a suggestion to NOW tax people in the lower income brackets who the Tax code actually PAYS for not making above a poverty level income.
What the people who WANT this "BROADENING" dont tell you, is that this GIVEAWAY was a result of a trade off so that they could have all the safe harbor loopholes that allows people like Romney get away with paying an effective rate of Less then 10% year after tear.
See they LIKE their end of the deal...that part is working out just fine, what they are counting on is that peopel are to busy to remember how and why the "socialist" poor are getting what they get.
Last edited by stephkyle7; 11-27-2012 at 07:01 PM.
Reason: Inappropriate comment
That dynamic is what most corporations use to their advantage everyday.
The human mind cannot comprehend numbers so vast.
i mean we can say a Million dollars or anything else, but you have no point of reference.
Now try 10 million, or 100 million.Or a billion.
People nod and say oh, ok a billion. but they really have no concept of a billion of anything.
But to your question, even by taxing only 100 dollars from every low income person, your talking like 100 times 100 million people in poverty...so what is that?....100 billion dollars so it SOUNDS like a good amount of money no doubt, it would actually be a lot more, but at the same time if we do that, and Im not so much against it through a appropriate means testing...everyone should be able to cough up 100 dollars to help out right?
Thats like 4 16 ounce sodas a month, but then I want the top tax bracket to not only go up to 39.5, but loose some loop holes TOO.
its all about comparable liability.
how much sacrifice is that 100 dollars to that poor person?
Becasue thats how much sacrifice(dont cry about hard figures) I need from them.
Here is a real simple explanation. There's been a lot of talk about the 1%. If you wanted to raise $1000 from the 1%, the 1% would pay $1000. If you broadened the base to include only the top half. You would be talking about 50%. If you want to raise $1000 from the 50%, each would pay $20. The same thing is true about any amount. If you increase the number of taxpayers by 10, you reduce the amount each pays by dividing by 10. Pretty much basic arithmetic.