Cravaack meets polite crowd in Deer River
August 9, 2011 at 3:44 pm in Duluth News Tribune
After imploring the approximately 200 people in the audience to be polite and not heckle each other, Cravaack gave what he said was a brand new 20-minute presentation about the state of the federal government’s budget before taking questions. Continue Reading
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Yep, people are easily duped, but a great slug line, like “Hope and change”
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but = by
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Ask Jim Oberstar how many people the GOP represents. I bet he’d say it’s a lot more than one percent.
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Mr. Cravaack is a refreshingly candid politician in a sea of snakes.
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Well he is spot on about one thing. It is very trendy to say tax the rich, but what does that even mean? 100k? Try 7 figures. You start jacking up the taxes of everyone who has a household income of 100k and you will wreck EVERY small business owner around. Because the thing is they don’t tax your pure profits. With a few deductions they tax mostly on your gross overhead. A small business owner may bring in 500k of taxable income, but after paying off various business debts and expenses he or she may take home less than 50k. You can’t just tax that 500k an extra 30-40k and say it’s because he/she is rich. You’ll ruin the small business owner.
Now people that are multi-millionaires, I have to say I am not 100 percent convinced about the Reganomics concept of the trickle down effect. The extremely wealthy do not generally think “oh boy look at all the jobs I can create with all this extra money I’m not taxed on.”
On a side note, I always think its funny when the people of either party assume the rest of the country must be morons because they did not vote for your candidate. That’s right, everybody is stupid but you and remember only YOU can prevent narcissism.
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I hope you aren’t preparing any S-corp tax returns (or any others for that matter), as you are completely wrong on the definition of taxable income for businesses. You would be amazed by how little business owners pay in taxes on their real income, and how they deduct personal expenses against company income. Ask any small business owner who owns the truck they drive to church – most likely its the company. Business owners can deduct employee wages… so if they really are worried about their tax burden, hire somebody instead of sitting on the cash.
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Just ask radio talk show host Lew Latto how many deductions he takes for driving his Cadillac and Mercedes. Just thinking out loud.
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You could tax “the rich” at 100% and it still wouldn’t put a dent in the deficit unless or until we get a president or a Congress that’s willing to cut spending. It isn’t complicated.
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The Stimulus was substantially less than one trillion ($787B), and over a third of that was tax relief. The idea was to inject money into the failing economy to replace private spending. In my own opinion, the problem was that to get the money in quickly, they focused on “shovel ready” projects. Those projects were already financed, so the stimulus money wasn’t “new” money, just allowed state goverments (including Minnesota, which presidential candidate Pawlenty seems to forget) to fix their budgets with federal money.
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I thought the I 35 work here in Duluth was the result of the stimulus. How many people have jobs as a result? Not defending Obama just asking a question.
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You really think the design and planning process happened in just the few months, from the date of Husseins signing the porkulus bill and the commencement of the initial phase of the highway reconstruction two years ago? Really? You are truly naive if you think the needs analysis, initial planning, drafting, department coordinating, bidding and awarding, mobilization of contractors equipment can happen that fast. Hussein hopes even more people like you are thinking he actually accomplished something besides destroying our economy. Yes some smaller construction projects may be benefiting from the pork bill for unions but the whole country is paying a very heafty price tag just so a few union workers can have very temporary employment. If you knew you had only a two or three year job would you buy a house? A new car? Could you create a college fund for your kids? Just how much of your income would you be willing to spend capriciously if you knew your days are numbered? The union pork bill is doing NOTHING to stimulate the economy. If anything it is helping union members avoid forclosure a couple more years, or repo of their car, or bankrupcy. The pork bill is only deferring the inevidible for union members at a huge cost to our country, which will ultimately make the inevidible even more of a sure thing. Think about it.
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True cost of the Spendulus Bill:
http://blog.heritage.org/2009/02/12/true-cost-of-stimulus-327-trillion/
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“True cost?” Your link goes to an analysis of hypothetical legislation that doesn’t exist. Here is CBO’s analysis of the ARRA as enacted:
http://www.cbo.gov/ftpdocs/99xx/doc9989/hr1conference.pdf
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