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10 Point Plan for Economic Growth

jimtimmy
Posts: 3,953
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3/3/2012 1:59:37 PM
Posted: 4 years ago
Here is the kind of economic plan that will restore America's place as the most prosperous economy in the world:

1.) Cap Federal Spending at 20% of GDP

2.) Roll back EPA and allow for dramatically increased oil and natural gas exploration

3.) Repeal Obamacare

4.) Repeal Dodd Frank

5.) Permanently extend Bush Tax Cuts

6.) Lower Corporate tax rate from 35% to 20% and go to a Territorial tax system

7.) Repeal AMT

8.) Repeal Death Tax

9.) Cut individual income tax rates for Middle income Americans. Lower the tax rates for the bottom four for tax brackets from 28, 25, 15, and 10 to 22.4, 20, 12, and 8

10.) Eliminate taxes on savings and investment. No taxation on interest, dividends, or capital gains for any income level.

This is an agenda that will restore economic growth to America.
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imabench
Posts: 21,229
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3/3/2012 2:27:51 PM
Posted: 4 years ago
At 3/3/2012 1:59:37 PM, jimtimmy wrote:
Here is the kind of economic plan that will restore America's place as the most prosperous economy in the world:

1.) Cap Federal Spending at 20% of GDP

2.) Roll back EPA and allow for dramatically increased oil and natural gas exploration

3.) Repeal Obamacare

4.) Repeal Dodd Frank

5.) Permanently extend Bush Tax Cuts

6.) Lower Corporate tax rate from 35% to 20% and go to a Territorial tax system

7.) Repeal AMT

8.) Repeal Death Tax

9.) Cut individual income tax rates for Middle income Americans. Lower the tax rates for the bottom four for tax brackets from 28, 25, 15, and 10 to 22.4, 20, 12, and 8

10.) Eliminate taxes on savings and investment. No taxation on interest, dividends, or capital gains for any income level.


This is an agenda that will restore economic growth to America.

I like how you say we have to do all of this to RESTORE growth when the country is ALREADY growing...
http://www.washingtonpost.com...
http://articles.economictimes.indiatimes.com...
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7/14/16 = The Presidency Dies

DDO: THE MOVIE = http://www.debate.org...
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Lordknukle
Posts: 12,788
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3/3/2012 2:49:02 PM
Posted: 4 years ago
At 3/3/2012 2:27:51 PM, imabench wrote:
At 3/3/2012 1:59:37 PM, jimtimmy wrote:
Here is the kind of economic plan that will restore America's place as the most prosperous economy in the world:

1.) Cap Federal Spending at 20% of GDP

2.) Roll back EPA and allow for dramatically increased oil and natural gas exploration

3.) Repeal Obamacare

4.) Repeal Dodd Frank

5.) Permanently extend Bush Tax Cuts

6.) Lower Corporate tax rate from 35% to 20% and go to a Territorial tax system

7.) Repeal AMT

8.) Repeal Death Tax

9.) Cut individual income tax rates for Middle income Americans. Lower the tax rates for the bottom four for tax brackets from 28, 25, 15, and 10 to 22.4, 20, 12, and 8

10.) Eliminate taxes on savings and investment. No taxation on interest, dividends, or capital gains for any income level.


This is an agenda that will restore economic growth to America.

I like how you say we have to do all of this to RESTORE growth when the country is ALREADY growing...
http://www.washingtonpost.com...
http://articles.economictimes.indiatimes.com...

The U-6 Number is at the highest in recent decades.

Recovery my a@s.
"Easy is the descent to Avernus, for the door to the Underworld lies upon both day and night. But to retrace your steps and return to the breezes above- that's the task, that's the toil."
Wnope
Posts: 6,924
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3/3/2012 2:52:38 PM
Posted: 4 years ago
At 3/3/2012 2:49:02 PM, Lordknukle wrote:
At 3/3/2012 2:27:51 PM, imabench wrote:
At 3/3/2012 1:59:37 PM, jimtimmy wrote:
Here is the kind of economic plan that will restore America's place as the most prosperous economy in the world:

1.) Cap Federal Spending at 20% of GDP

2.) Roll back EPA and allow for dramatically increased oil and natural gas exploration

3.) Repeal Obamacare

4.) Repeal Dodd Frank

5.) Permanently extend Bush Tax Cuts

6.) Lower Corporate tax rate from 35% to 20% and go to a Territorial tax system

7.) Repeal AMT

8.) Repeal Death Tax

9.) Cut individual income tax rates for Middle income Americans. Lower the tax rates for the bottom four for tax brackets from 28, 25, 15, and 10 to 22.4, 20, 12, and 8

10.) Eliminate taxes on savings and investment. No taxation on interest, dividends, or capital gains for any income level.


This is an agenda that will restore economic growth to America.

I like how you say we have to do all of this to RESTORE growth when the country is ALREADY growing...
http://www.washingtonpost.com...
http://articles.economictimes.indiatimes.com...

The U-6 Number is at the highest in recent decades.

Recovery my a@s.

U-6 has lowered since 2010.

Recoveries are relative, LK.
Mimshot
Posts: 275
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3/3/2012 2:53:37 PM
Posted: 4 years ago
Interesting standard Republican wish list posed as an "Economic plan". I have a few questions if you don' mind.

At 3/3/2012 1:59:37 PM, jimtimmy wrote:
Here is the kind of economic plan that will restore America's place as the most prosperous economy in the world:
We still are, hate to break it to you.


1.) Cap Federal Spending at 20% of GDP
How would this improve the economy? This could be achieved by devolving responsibility to the states. You only have half the equation here. At any rate, why is 20% better than 15% or 25% for the economy?

2.) Roll back EPA and allow for dramatically increased oil and natural gas exploration
Like Obama did? There are only two things stopping oil companies now from drilling more wells: 1) the price of oil, 2) the lack of bigger government subsidies for drilling. How would you propose to increase drilling, and how would this stimulate the economy?

3.) Repeal Obamacare
How would this make our country more economically productive?

4.) Repeal Dodd Frank
How would this make us more economically prosperous?

5.) Permanently extend Bush Tax Cuts
Fine with me.

6.) Lower Corporate tax rate from 35% to 20% and go to a Territorial tax system
So it's better if American companies pay their taxes in the Bahamas? How would this make us more economically productive?

7.) Repeal AMT
Fine by me. How about FICA too, or should only rich people pay less taxes?

8.) Repeal Death Tax
Already done, but I would ask how dieing improves the economy.

9.) Cut individual income tax rates for Middle income Americans. Lower the tax rates for the bottom four for tax brackets from 28, 25, 15, and 10 to 22.4, 20, 12, and 8
How did you come up with those numbers? Why not 20, 15, 10, and zero?

10.) Eliminate taxes on savings and investment. No taxation on interest, dividends, or capital gains for any income level.
So, non-productive activities (like securitizing mortgages and shuffling numbers between accounts) should receive a government subsidy (in the form of lower taxes). This would further encourage our best and brightest engineers and mathematicians to shuffle numbers on wall street rather than invent better mouse traps. How does this improve our prosperity?
Mimshot: I support the 1956 Republican platform
DDMx: So, you're a socialist?
Mimshot: Yes
Lordknukle
Posts: 12,788
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3/3/2012 2:58:15 PM
Posted: 4 years ago
At 3/3/2012 2:52:38 PM, Wnope wrote:
At 3/3/2012 2:49:02 PM, Lordknukle wrote:
At 3/3/2012 2:27:51 PM, imabench wrote:
At 3/3/2012 1:59:37 PM, jimtimmy wrote:
Here is the kind of economic plan that will restore America's place as the most prosperous economy in the world:

1.) Cap Federal Spending at 20% of GDP

2.) Roll back EPA and allow for dramatically increased oil and natural gas exploration

3.) Repeal Obamacare

4.) Repeal Dodd Frank

5.) Permanently extend Bush Tax Cuts

6.) Lower Corporate tax rate from 35% to 20% and go to a Territorial tax system

7.) Repeal AMT

8.) Repeal Death Tax

9.) Cut individual income tax rates for Middle income Americans. Lower the tax rates for the bottom four for tax brackets from 28, 25, 15, and 10 to 22.4, 20, 12, and 8

10.) Eliminate taxes on savings and investment. No taxation on interest, dividends, or capital gains for any income level.


This is an agenda that will restore economic growth to America.

I like how you say we have to do all of this to RESTORE growth when the country is ALREADY growing...
http://www.washingtonpost.com...
http://articles.economictimes.indiatimes.com...

The U-6 Number is at the highest in recent decades.

Recovery my a@s.

U-6 has lowered since 2010.

Recoveries are relative, LK.

Almost 10 point jump since when Obama went into office (http://portalseven.com...).

Not the highest per se, but one of the highest.
"Easy is the descent to Avernus, for the door to the Underworld lies upon both day and night. But to retrace your steps and return to the breezes above- that's the task, that's the toil."
Wnope
Posts: 6,924
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3/3/2012 3:11:38 PM
Posted: 4 years ago
At 3/3/2012 2:58:15 PM, Lordknukle wrote:
At 3/3/2012 2:52:38 PM, Wnope wrote:
At 3/3/2012 2:49:02 PM, Lordknukle wrote:
At 3/3/2012 2:27:51 PM, imabench wrote:
At 3/3/2012 1:59:37 PM, jimtimmy wrote:
Here is the kind of economic plan that will restore America's place as the most prosperous economy in the world:

1.) Cap Federal Spending at 20% of GDP

2.) Roll back EPA and allow for dramatically increased oil and natural gas exploration

3.) Repeal Obamacare

4.) Repeal Dodd Frank

5.) Permanently extend Bush Tax Cuts

6.) Lower Corporate tax rate from 35% to 20% and go to a Territorial tax system

7.) Repeal AMT

8.) Repeal Death Tax

9.) Cut individual income tax rates for Middle income Americans. Lower the tax rates for the bottom four for tax brackets from 28, 25, 15, and 10 to 22.4, 20, 12, and 8

10.) Eliminate taxes on savings and investment. No taxation on interest, dividends, or capital gains for any income level.


This is an agenda that will restore economic growth to America.

I like how you say we have to do all of this to RESTORE growth when the country is ALREADY growing...
http://www.washingtonpost.com...
http://articles.economictimes.indiatimes.com...

The U-6 Number is at the highest in recent decades.

Recovery my a@s.

U-6 has lowered since 2010.

Recoveries are relative, LK.

Almost 10 point jump since when Obama went into office (http://portalseven.com...).

Not the highest per se, but one of the highest.

You do recall that he took office in the middle of the recession, right? The hike didn't even taper off till late 2009 and then it wavered and has started to consistently lower.
Lordknukle
Posts: 12,788
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3/3/2012 3:24:27 PM
Posted: 4 years ago
At 3/3/2012 3:11:38 PM, Wnope wrote:
At 3/3/2012 2:58:15 PM, Lordknukle wrote:
At 3/3/2012 2:52:38 PM, Wnope wrote:
At 3/3/2012 2:49:02 PM, Lordknukle wrote:
At 3/3/2012 2:27:51 PM, imabench wrote:
At 3/3/2012 1:59:37 PM, jimtimmy wrote:
Here is the kind of economic plan that will restore America's place as the most prosperous economy in the world:

1.) Cap Federal Spending at 20% of GDP

2.) Roll back EPA and allow for dramatically increased oil and natural gas exploration

3.) Repeal Obamacare

4.) Repeal Dodd Frank

5.) Permanently extend Bush Tax Cuts

6.) Lower Corporate tax rate from 35% to 20% and go to a Territorial tax system

7.) Repeal AMT

8.) Repeal Death Tax

9.) Cut individual income tax rates for Middle income Americans. Lower the tax rates for the bottom four for tax brackets from 28, 25, 15, and 10 to 22.4, 20, 12, and 8

10.) Eliminate taxes on savings and investment. No taxation on interest, dividends, or capital gains for any income level.


This is an agenda that will restore economic growth to America.

I like how you say we have to do all of this to RESTORE growth when the country is ALREADY growing...
http://www.washingtonpost.com...
http://articles.economictimes.indiatimes.com...

The U-6 Number is at the highest in recent decades.

Recovery my a@s.

U-6 has lowered since 2010.

Recoveries are relative, LK.

Almost 10 point jump since when Obama went into office (http://portalseven.com...).

Not the highest per se, but one of the highest.

You do recall that he took office in the middle of the recession, right? The hike didn't even taper off till late 2009 and then it wavered and has started to consistently lower.

I don't dispute that Obama inherited a slight mess, but he could have dealt with it much more gracefully and efficiently. He should cut government spending, increased private job sector growth, diminished public job sector growth, promoted the free market, deregulated (recession was because of regulation), and decreased taxes.

Instead, he raised the debt by 5 trillion. Pro move.
"Easy is the descent to Avernus, for the door to the Underworld lies upon both day and night. But to retrace your steps and return to the breezes above- that's the task, that's the toil."
Starcraftzzz
Posts: 487
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3/3/2012 3:32:41 PM
Posted: 4 years ago
At 3/3/2012 3:24:27 PM, Lordknukle wrote:
He should cut government spending,
So how is lowering GDP and increasing unemployment helpful?
At 3/3/2012 3:24:27 PM, Lordknukle wrote:
promoted the free market, deregulated (recession was because of regulation),
Seriously? After the worse banking crises ever due to deregulation and you think more deregulation will magically make things better?
After deregulation of utilities caused costs to skyrocket you still think more regulations are the answer?
At 3/3/2012 3:24:27 PM, Lordknukle wrote:
and decreased taxes.
He already did, republicans opposed it and voted against it though
At 3/3/2012 3:24:27 PM, Lordknukle wrote:
Instead, he raised the debt by 5 trillion. Pro move.
Of which only 10% was due to his polices. Very dishonest and stupid fo you to blame Obama for things other people did
jimtimmy
Posts: 3,953
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3/3/2012 3:33:19 PM
Posted: 4 years ago
At 3/3/2012 2:53:37 PM, Mimshot wrote:
Interesting standard Republican wish list posed as an "Economic plan". I have a few questions if you don' mind.

At 3/3/2012 1:59:37 PM, jimtimmy wrote:
Here is the kind of economic plan that will restore America's place as the most prosperous economy in the world:
We still are, hate to break it to you.

Singapore would beg to differ. And, we are on the way down.



1.) Cap Federal Spending at 20% of GDP
How would this improve the economy? This could be achieved by devolving responsibility to the states. You only have half the equation here. At any rate, why is 20% better than 15% or 25% for the economy?

15% would be better. However, 20% is more realistic in the short term. The point is that spending needs to be capped at a lower level.


2.) Roll back EPA and allow for dramatically increased oil and natural gas exploration
Like Obama did? There are only two things stopping oil companies now from drilling more wells: 1) the price of oil, 2) the lack of bigger government subsidies for drilling. How would you propose to increase drilling, and how would this stimulate the economy?

Obama did not roll back the EPA, he rejected the Keystone pipeline, he pushed to pass an anti energy cap and tax bill, and he opposes opening up many areas for drilling.

Subsidies are a terrible idea.


3.) Repeal Obamacare
How would this make our country more economically productive?

Repealing 2700 pages of regulations, taxes, and mandates will certainly makes us more prodictive.


4.) Repeal Dodd Frank
How would this make us more economically prosperous?

Repealing a 2100 page bill full of complex reglations will be a good thing.


5.) Permanently extend Bush Tax Cuts
Fine with me.

Good.


6.) Lower Corporate tax rate from 35% to 20% and go to a Territorial tax system
So it's better if American companies pay their taxes in the Bahamas? How would this make us more economically productive?

No, but we need to stop repelling business from America.


7.) Repeal AMT
Fine by me. How about FICA too, or should only rich people pay less taxes?

FICA brings in a lot more revenue than AMT. It is simply unrealistic.

We need reform though.

And, AMT hits middle income americans.


8.) Repeal Death Tax
Already done, but I would ask how dieing improves the economy.

This is not already done.


9.) Cut individual income tax rates for Middle income Americans. Lower the tax rates for the bottom four for tax brackets from 28, 25, 15, and 10 to 22.4, 20, 12, and 8
How did you come up with those numbers? Why not 20, 15, 10, and zero?

All the rates cut by 20%.

Notice how I left the tax rates for the rich out. This is because I am not for huge tax cuts for the rich.


10.) Eliminate taxes on savings and investment. No taxation on interest, dividends, or capital gains for any income level.
So, non-productive activities (like securitizing mortgages and shuffling numbers between accounts) should receive a government subsidy (in the form of lower taxes). This would further encourage our best and brightest engineers and mathematicians to shuffle numbers on wall street rather than invent better mouse traps. How does this improve our prosperity?

No, investment is key for economic prosperity.
President of DDO
Wnope
Posts: 6,924
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3/3/2012 3:37:24 PM
Posted: 4 years ago
At 3/3/2012 3:33:19 PM, jimtimmy wrote:
At 3/3/2012 2:53:37 PM, Mimshot wrote:

All the rates cut by 20%.

Notice how I left the tax rates for the rich out. This is because I am not for huge tax cuts for the rich.




CLASS WARFARE!!!!
Starcraftzzz
Posts: 487
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3/3/2012 3:38:15 PM
Posted: 4 years ago
At 3/3/2012 1:59:37 PM, jimtimmy wrote:
1.) Cap Federal Spending at 20% of GDP
At 3/3/2012 1:59:37 PM, jimtimmy wrote:
2.) Roll back EPA and allow for dramatically increased oil and natural gas exploration
At 3/3/2012 1:59:37 PM, jimtimmy wrote:
3.) Repeal Obamacare
So how is increasing wasteful health spending, losing 250,000 jobs a year and taking health care away from 35million people helpful?

At 3/3/2012 1:59:37 PM, jimtimmy wrote:
4.) Repeal Dodd Frank
So how is more banking fraud and banking crises a good thing?

At 3/3/2012 1:59:37 PM, jimtimmy wrote:
7.) Repeal AMT
Awesome lets only taxes for rich people

At 3/3/2012 1:59:37 PM, jimtimmy wrote:
8.) Repeal Death Tax
How is making it so children of very wealthy people don't have to work for a living a good thing? Are you suggesting that having a lower workforce results in property?

At 3/3/2012 1:59:37 PM, jimtimmy wrote:
9.) Cut individual income tax rates for Middle income Americans. Lower the tax rates for the bottom four for tax brackets from 28, 25, 15, and 10 to 22.4, 20, 12, and 8
Awesome lets cut taxes mostly for rich people that's worker well in the past so much
At 3/3/2012 1:59:37 PM, jimtimmy wrote:
10.) Eliminate taxes on savings and investment. No taxation on interest, dividends, or capital gains for any income level.
Awesome lets make it so rich people pay even less taxes then middle americans

At 3/3/2012 1:59:37 PM, jimtimmy wrote:
This is an agenda that will restore economic growth to America.
Would it ever be possible for you to actually post something intellectual instead of a laundry list of right wing stupidity?
Starcraftzzz
Posts: 487
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3/3/2012 3:49:12 PM
Posted: 4 years ago
At 3/3/2012 3:33:19 PM, jimtimmy wrote:
At 3/3/2012 2:53:37 PM, Mimshot wrote:
At 3/3/2012 1:59:37 PM, jimtimmy wrote:
1.) Cap Federal Spending at 20% of GDP
How would this improve the economy? This could be achieved by devolving responsibility to the states. You only have half the equation here. At any rate, why is 20% better than 15% or 25% for the economy?
15% would be better. However, 20% is more realistic in the short term. The point is that spending needs to be capped at a lower level.
Arbitrary setting a spending limit is stupid its just like doing across the broad cuts, it result in spending that creates larege benefits being cut; and it hinders the governments response to deal with recession of which neither are helpful for the economy

At 3/3/2012 3:33:19 PM, jimtimmy wrote:
At 3/3/2012 2:53:37 PM, Mimshot wrote:
At 3/3/2012 1:59:37 PM, jimtimmy wrote:
2.) Roll back EPA and allow for dramatically increased oil and natural gas exploration
Like Obama did? There are only two things stopping oil companies now from drilling more wells: 1) the price of oil, 2) the lack of bigger government subsidies for drilling. How would you propose to increase drilling, and how would this stimulate the economy?
Obama did not roll back the EPA, he rejected the Keystone pipeline, he pushed to pass an anti energy cap and tax bill, and he opposes opening up many areas for drilling.
So tell us why you think pollution and oil spills will benefit the economy.
At 3/3/2012 3:33:19 PM, jimtimmy wrote:
At 3/3/2012 2:53:37 PM, Mimshot wrote:
At 3/3/2012 1:59:37 PM, jimtimmy wrote:
3.) Repeal Obamacare
How would this make our country more economically productive?
Repealing 2700 pages of regulations, taxes, and mandates will certainly makes us more prodictive.
Plz explain why being heather makes people less productivity.
Plz explain why making health care spending more efficient makes us less productive

At 3/3/2012 3:33:19 PM, jimtimmy wrote:
At 3/3/2012 2:53:37 PM, Mimshot wrote:
At 3/3/2012 1:59:37 PM, jimtimmy wrote:
4.) Repeal Dodd Frank
How would this make us more economically prosperous?
Repealing a 2100 page bill full of complex reglations will be a good thing.
Banking fraud and crises aren't good things

At 3/3/2012 3:33:19 PM, jimtimmy wrote:
At 3/3/2012 2:53:37 PM, Mimshot wrote:
At 3/3/2012 1:59:37 PM, jimtimmy wrote:
6.) Lower Corporate tax rate from 35% to 20% and go to a Territorial tax system
So it's better if American companies pay their taxes in the Bahamas? How would this make us more economically productive?
No, but we need to stop repelling business from America.
America read has one of the lowers corporate tax rates int he world. Take a step in reality.
At 3/3/2012 3:33:19 PM, jimtimmy wrote:
At 3/3/2012 2:53:37 PM, Mimshot wrote:
At 3/3/2012 1:59:37 PM, jimtimmy wrote:
10.) Eliminate taxes on savings and investment. No taxation on interest, dividends, or capital gains for any income level.
So, non-productive activities (like securitizing mortgages and shuffling numbers between accounts) should receive a government subsidy (in the form of lower taxes). This would further encourage our best and brightest engineers and mathematicians to shuffle numbers on wall street rather than invent better mouse traps. How does this improve our prosperity?

No, investment is key for economic prosperity.
Of which your plan doesn't increase investment...
JaxsonRaine
Posts: 3,606
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3/3/2012 3:55:01 PM
Posted: 4 years ago
At 3/3/2012 3:49:12 PM, Starcraftzzz wrote:
America read has one of the lowers corporate tax rates int he world. Take a step in reality.

Hahahaha! You really think that?

http://taxfoundation.org...
twocupcakes: 15 = 13
Mimshot
Posts: 275
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3/3/2012 4:06:47 PM
Posted: 4 years ago
Huh?

At 3/3/2012 3:33:19 PM, jimtimmy wrote:
At 3/3/2012 2:53:37 PM, Mimshot wrote:
Interesting standard Republican wish list posed as an "Economic plan". I have a few questions if you don' mind.

At 3/3/2012 1:59:37 PM, jimtimmy wrote:
Here is the kind of economic plan that will restore America's place as the most prosperous economy in the world:
We still are, hate to break it to you.
Singapore would beg to differ. And, we are on the way down.
OMG the sky is falling. Singapore has a GDP less than 1% of ours. Also their debt/GDP ratio is 98% (I assume you care about such things) and they beat people with canes.

1.) Cap Federal Spending at 20% of GDP
How would this improve the economy? This could be achieved by devolving responsibility to the states. You only have half the equation here. At any rate, why is 20% better than 15% or 25% for the economy?
15% would be better. However, 20% is more realistic in the short term. The point is that spending needs to be capped at a lower level.
I understand that you think this. My question was "why do you think this?" How does lowering spending make us more economically prosperous per se. Just because the say it enough on Fox doesn't make it true.

2.) Roll back EPA and allow for dramatically increased oil and natural gas exploration
Like Obama did? There are only two things stopping oil companies now from drilling more wells: 1) the price of oil, 2) the lack of bigger government subsidies for drilling. How would you propose to increase drilling, and how would this stimulate the economy?
Obama did not roll back the EPA, he rejected the Keystone pipeline, he pushed to pass an anti energy cap and tax bill, and he opposes opening up many areas for drilling.
Let's not be cherry pick. New well starts are triple what they were under Bush. Just because he doesn't allow every project someone proposes doesn't mean he's stopping energy exploration. Cap and Trade was a Republican idea a decade ago -- Hell, it came out of U of C. Also, Keystone probably would have been approved eventually had the Republicans not decided to try to make an election year issue out of it.

Subsidies are a terrible idea.
Glad we agree ;)

3.) Repeal Obamacare
How would this make our country more economically productive?
Repealing 2700 pages of regulations, taxes, and mandates will certainly makes us more prodictive.
Again, you just restated it as a fact. I'm asking how or why.

4.) Repeal Dodd Frank
How would this make us more economically prosperous?
Repealing a 2100 page bill full of complex reglations will be a good thing.
Same as 3. Have you actually thought through your positions?

5.) Permanently extend Bush Tax Cuts
Fine with me.

Good.

6.) Lower Corporate tax rate from 35% to 20% and go to a Territorial tax system
So it's better if American companies pay their taxes in the Bahamas? How would this make us more economically productive?
No, but we need to stop repelling business from America.
Which is exactly what territoriality does. It lets them sell here without keeping that money in the economy.

7.) Repeal AMT
Fine by me. How about FICA too, or should only rich people pay less taxes?
FICA brings in a lot more revenue than AMT. It is simply unrealistic.
But the corporate rate doesn't? I don't see the difference other than you like taxes on poor people who actually spend their money, thereby continuing to drive economic growth. Who's guilty of class warfare now?

We need reform though.
And, AMT hits middle income americans.
Agreed.

8.) Repeal Death Tax
Already done, but I would ask how dieing improves the economy.
This is not already done.
It was in the Bush tax cuts, but again, you missed my point. I would propose reinstating it but exempting the first $30M of an estate. How does maintaining dynastic wealth and allowing unrealized capital gains to propagate from generation to generation without ever being taxed improve the economy?

9.) Cut individual income tax rates for Middle income Americans. Lower the tax rates for the bottom four for tax brackets from 28, 25, 15, and 10 to 22.4, 20, 12, and 8
How did you come up with those numbers? Why not 20, 15, 10, and zero?
All the rates cut by 20%.

Notice how I left the tax rates for the rich out. This is because I am not for huge tax cuts for the rich.
Ok. I'd repeal FICA and leave these rates the same, but I think it probably works out about the same. Isn't it fun when we agree?

10.) Eliminate taxes on savings and investment. No taxation on interest, dividends, or capital gains for any income level.
So, non-productive activities (like securitizing mortgages and shuffling numbers between accounts) should receive a government subsidy (in the form of lower taxes). This would further encourage our best and brightest engineers and mathematicians to shuffle numbers on wall street rather than invent better mouse traps. How does this improve our prosperity?

No, investment is key for economic prosperity.
Investment is, securitization is not. When you buy a stock, you are buying it from someone else. You are not investing in the company. This is really savings, not investment in the macro sense. If someone wants to go build a factory, I'm all for giving them a tax break. Tranching mortgage pools, issuing forex swaps, and front-running the NASDAQ because you can post your order 30 microseconds faster than the guy up the block have nothing to do with increasing economic prosperity, and don't deserve government subsidies.

We, as a society, can consume what we produce -- no more, no less.
Mimshot: I support the 1956 Republican platform
DDMx: So, you're a socialist?
Mimshot: Yes
Starcraftzzz
Posts: 487
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3/3/2012 4:08:49 PM
Posted: 4 years ago
At 3/3/2012 3:55:01 PM, JaxsonRaine wrote:
At 3/3/2012 3:49:12 PM, Starcraftzzz wrote:
America read has one of the lowers corporate tax rates int he world. Take a step in reality.

Hahahaha! You really think that?

http://taxfoundation.org...
Come back when you have a brain IE never
http://thinkprogress.org...
Greyparrot
Posts: 14,313
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3/3/2012 4:09:08 PM
Posted: 4 years ago
At 3/3/2012 3:55:01 PM, JaxsonRaine wrote:
At 3/3/2012 3:49:12 PM, Starcraftzzz wrote:
America read has one of the lowers corporate tax rates int he world. Take a step in reality.

Hahahaha! You really think that?

http://taxfoundation.org...

In soviet Starcraftlandzzz...

China relocates its factories to USA due to cheap taxes and cheap non-unionized labor.
Starcraftzzz
Posts: 487
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3/3/2012 4:13:02 PM
Posted: 4 years ago
At 3/3/2012 4:09:08 PM, Greyparrot wrote:
At 3/3/2012 3:55:01 PM, JaxsonRaine wrote:
At 3/3/2012 3:49:12 PM, Starcraftzzz wrote:
America read has one of the lowers corporate tax rates int he world. Take a step in reality.

Hahahaha! You really think that?

http://taxfoundation.org...

In soviet Starcraftlandzzz...

China relocates its factories to USA due to cheap taxes and cheap non-unionized labor.
Considering china has higher corporate tax rates then America anyone who concludes that off shoring is due to corporate taxes is an idiot IE a republican.
It is amazing that right-wingers like you want to make America like China
Greyparrot
Posts: 14,313
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3/3/2012 4:16:37 PM
Posted: 4 years ago
At 3/3/2012 4:13:02 PM, Starcraftzzz wrote:
In soviet Starcraftlandzzz...

China relocates its factories to USA due to cheap taxes and cheap non-unionized labor.
Considering china has higher corporate tax rates then America anyone who concludes that off shoring is due to corporate taxes is an idiot IE a republican.
It is amazing that right-wingers like you want to make America like China

http://thinkprogress.org...

China isn't even on your liberal radar according to your accurate graph. Apparantly luxembourg is the economic powerhouse we need to watch out for.
JaxsonRaine
Posts: 3,606
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3/3/2012 4:16:44 PM
Posted: 4 years ago
At 3/3/2012 4:08:49 PM, Starcraftzzz wrote:
At 3/3/2012 3:55:01 PM, JaxsonRaine wrote:
At 3/3/2012 3:49:12 PM, Starcraftzzz wrote:
America read has one of the lowers corporate tax rates int he world. Take a step in reality.

Hahahaha! You really think that?

http://taxfoundation.org...
Come back when you have a brain IE never
http://thinkprogress.org...

There is NO reason, NONE, ZERO, ZILCH, 0%, to look at taxes as a percentage of GDP.

% of GDP has NOTHING to do with what percentage of their INCOME corporations actually pay.

Corporations could pay 100% of ALL their income and the corporate tax rate as a percentage of GDP would only be about 7%. It's an irrelevant measure to use, because every country has a different economic setup, and corporations account for a different percentage of total GDP.
twocupcakes: 15 = 13
Greyparrot
Posts: 14,313
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3/3/2012 4:31:03 PM
Posted: 4 years ago
Actually, most real non-cherrypicked sources indicate that Business growth overseas is presently at an all time low with less businesses able to make ends meet at home. Oddly, exportation of jobs is actually a non-issue when subtantial creation of local jobs is also a non-issue.
Starcraftzzz
Posts: 487
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3/3/2012 4:58:32 PM
Posted: 4 years ago
At 3/3/2012 4:16:44 PM, JaxsonRaine wrote:
At 3/3/2012 4:08:49 PM, Starcraftzzz wrote:
At 3/3/2012 3:55:01 PM, JaxsonRaine wrote:
At 3/3/2012 3:49:12 PM, Starcraftzzz wrote:
America read has one of the lowers corporate tax rates int he world. Take a step in reality.

Hahahaha! You really think that?

http://taxfoundation.org...
Come back when you have a brain IE never
http://thinkprogress.org...

There is NO reason, NONE, ZERO, ZILCH, 0%, to look at taxes as a percentage of GDP.

% of GDP has NOTHING to do with what percentage of their INCOME corporations actually pay.

Corporations could pay 100% of ALL their income and the corporate tax rate as a percentage of GDP would only be about 7%. It's an irrelevant measure to use, because every country has a different economic setup, and corporations account for a different percentage of total GDP.
I see so according to you we shouldn't look at how many taxes are acutely paid, and should just ignore all the loopholes and subsides.
Why is it that republcians always cherry pick and never want to look at all the data?
Greyparrot
Posts: 14,313
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3/3/2012 5:03:22 PM
Posted: 4 years ago
At 3/3/2012 4:58:32 PM, Starcraftzzz wrote:
I see so according to you we shouldn't look at how many taxes are acutely paid, and should just ignore all the loopholes and subsides.
Why is it that republcians always cherry pick and never want to look at all the data?

http://thinkprogress.org...

Again... where is China on your graph oh Cherry lord?
JaxsonRaine
Posts: 3,606
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3/3/2012 5:15:46 PM
Posted: 4 years ago
At 3/3/2012 4:58:32 PM, Starcraftzzz wrote:
At 3/3/2012 4:16:44 PM, JaxsonRaine wrote:
At 3/3/2012 4:08:49 PM, Starcraftzzz wrote:
At 3/3/2012 3:55:01 PM, JaxsonRaine wrote:
At 3/3/2012 3:49:12 PM, Starcraftzzz wrote:
America read has one of the lowers corporate tax rates int he world. Take a step in reality.

Hahahaha! You really think that?

http://taxfoundation.org...
Come back when you have a brain IE never
http://thinkprogress.org...

There is NO reason, NONE, ZERO, ZILCH, 0%, to look at taxes as a percentage of GDP.

% of GDP has NOTHING to do with what percentage of their INCOME corporations actually pay.

Corporations could pay 100% of ALL their income and the corporate tax rate as a percentage of GDP would only be about 7%. It's an irrelevant measure to use, because every country has a different economic setup, and corporations account for a different percentage of total GDP.
I see so according to you we shouldn't look at how many taxes are acutely paid, and should just ignore all the loopholes and subsides.
Why is it that republcians always cherry pick and never want to look at all the data?

I'm saying that, when looking at what tax rate corporations pay, we should look at their INCOME and their TAXES PAID.

If corporations pay 100% of their income in taxes, that's as high as it can get. It has nothing to do with GDP, and everything to do with their INCOME and TAXES PAID.

Is that really so hard to understand?

So, corporations in the US pay 27% of their income, and in other developed nations corporations pay 20% of their income. Which is the higher tax rate? See how GDP doesn't matter?
twocupcakes: 15 = 13
JaxsonRaine
Posts: 3,606
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3/3/2012 5:19:43 PM
Posted: 4 years ago
At 3/3/2012 4:58:32 PM, Starcraftzzz wrote:
At 3/3/2012 4:16:44 PM, JaxsonRaine wrote:
At 3/3/2012 4:08:49 PM, Starcraftzzz wrote:
At 3/3/2012 3:55:01 PM, JaxsonRaine wrote:
At 3/3/2012 3:49:12 PM, Starcraftzzz wrote:
America read has one of the lowers corporate tax rates int he world. Take a step in reality.

Hahahaha! You really think that?

http://taxfoundation.org...
Come back when you have a brain IE never
http://thinkprogress.org...

There is NO reason, NONE, ZERO, ZILCH, 0%, to look at taxes as a percentage of GDP.

% of GDP has NOTHING to do with what percentage of their INCOME corporations actually pay.

Corporations could pay 100% of ALL their income and the corporate tax rate as a percentage of GDP would only be about 7%. It's an irrelevant measure to use, because every country has a different economic setup, and corporations account for a different percentage of total GDP.
I see so according to you we shouldn't look at how many taxes are acutely paid, and should just ignore all the loopholes and subsides.
Why is it that republcians always cherry pick and never want to look at all the data?

Ok, our corporations pay 27% on average, which comes out to 1.3% of GDP.

In Canada, corporations pay a maximum 18% marginal rate, which comes out to about 2.6% of GDP... so because of the % of GDP, Canadian corporations are obviously paying a higher tax rate, because 18 is higher than 27.

Right?
twocupcakes: 15 = 13
Greyparrot
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3/3/2012 5:34:13 PM
Posted: 4 years ago
I find it funny that both Libercrats and Conservacrats both ardently believe Large Corporations could not possibly spend money lobbying for higher taxes as a way to stifle growing competition.
Mimshot
Posts: 275
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3/3/2012 5:37:55 PM
Posted: 4 years ago
This thread has been derailed into arguing over who's biased sources are better for a relatively tangential point and name calling. The OP had an interesting plan, and I thought we were having an interesting discussion of the points he raised. Seriously, can the off-topic stuff go to another thread?
Mimshot: I support the 1956 Republican platform
DDMx: So, you're a socialist?
Mimshot: Yes
jimtimmy
Posts: 3,953
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3/3/2012 7:37:37 PM
Posted: 4 years ago
At 3/3/2012 5:37:55 PM, Mimshot wrote:
This thread has been derailed into arguing over who's biased sources are better for a relatively tangential point and name calling. The OP had an interesting plan, and I thought we were having an interesting discussion of the points he raised. Seriously, can the off-topic stuff go to another thread?

I would agree with this.
President of DDO
Contra
Posts: 3,941
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3/3/2012 8:38:44 PM
Posted: 4 years ago
My plan:

1) Single-Payer Healthcare

2) Change Income Tax Brackets:
10% -- up to $15,000
20% -- up to $70,000
25% -- up to $250,000
35% -- up to $1,000,000
45% -- up to $1,000,000,000
49% -- $1,000,000,000+

3) Lower Corporate Tax to 25% AND eliminate all loopholes -make territorial taxation

4) Spending Cuts:
-------End earmarks
-------Close 1/3 of military bases
-------Reduce Defense Procurement by 15%
-------Reduce military spending by $1.5 trillion over 10 years
-------Reform Farm Subsidies
-------Reduce Federal Workforce by about 5%

5) Move Gas and oil subsidies to clean renewable energy

6) National Energy retrofitting program

7) End All Foreign Wars and Bring troops home

8) Invest in job creation, renewable clean energy, broadband infrastructure, housing, R&D programs, restore schools, train teachers, rebuild roads and bridges, and make sure users help pay for them (new spending)

9) End all tax deductions and cut mortgage deduction in half

10) New regulation on derivatives market

11) End payroll cap for employees for Social Security

This would be my 10-point plan. Plus, with Single-Payer healthcare, healthcare costs would go down, and the taxation to pay for S.P. would be cheaper to most individuals and businesses than they pay now (2% income tax hike and 7% payroll tax for businesses).

Plus, my plan would create a surplus in at least 20 years (like the plan on the link, but mine is somewhat different). It invests heavily in renewing American infrastructure, clean renewable energy, education, and in increasing S.S solvency and fighting the healthcare crisis.

http://cpc.grijalva.house.gov...
"The solution [for Republicans] is to admit that Bush was a bad president, stop this racist homophobic stuff, stop trying to give most of the tax cuts to the rich, propose a real alternative to Obamacare that actually works, and propose smart free market solutions to our economic problems." - Distraff

"Americans are better off in a dynamic, free-enterprise-based economy that fosters economic growth, opportunity and upward mobility." - Paul Ryan