I'm no economist, but it seems to me that the answer lies in raising taxes

[Stinky The Clown]

And I am talking about massive tax increases ...... on the wealthy and on corporations and on passive (capital gains and interest) income.

No tax on any income 50K or less

Low tax on income from 50K to 150K

Moderate tax on income from 150K to 250K

Burdensome tax on income from 250K to 1M

Heavy tax on income over 1M

Punishingly heavy tax income over 5M

Business income taxed as personal income (unless we get rid of corporate personhood). (Exxon Mobil would pay tax on their profits as if they were a single person.)

[genie_weenie]

1. Cut the Trillion Dollar DoD budget first or

more money is going to flow into the coffers of The MErchants of Death and Destruction if you raise taxes.

[Stinky The Clown]

9. That goes without saying

[LakeSamish706]

2. Or perhaps ending the war right now might work as well! n/t

[Stinky The Clown]

12. Would that it would. It won't

We have the massive debt that will go on forever.

Not saying we shouldn't end the war. Of **course** we should. My point is, that all this way in, it will not have the financial impact it once might have ..... back when it was a far younger war.

[LakeSamish706]

14. I seriously think that come January 09 the new inaugurated President will...

have to get real tough on these corporations that are making the huge profits in this country. Whether this comes in the form of serious immediate taxes or some other means, it needs to happen and quickly.

[qwertyMike]

28. The war costs $30 billion

per WEEK.

Just think what we could do with that EVERY WEEK
(sorry about the CAPS)

Mike

[LSK]

3. you want to return to the 50s???

Cool! At least economically!

[mac2]

7. Ya pre-Reagan "drip down on you" economics.

[mac2]

4. Go back to Pre-Reagan tax codes

We had a large middle class and corporations did well in America but didn't have the power and wealth of today. Corporations (now above the law and international) have too much power over our government and its goals.

Corporations aren't humans.

When I first went to work full time I was single. I filled out a half page tax form. I had no deductions,etc. The 1040 tax form has become too complicatged for the average worker.

[panader0]

5. I like it!

Then again, I'm under 50 grand. The repubs want the voters to think that Dems are for raising taxes, but it's the tax breaks for the rich that bush put in place that are breaking us. I read that keeping the tax breaks for the rich will take 17 trillion out of our national coffers in 10 years. I may be wrong on the numbe, but it is hugh.

[Thepricebreaker]

6. Say hello to off shore bank accounts with anonymous visa dept cards...

[Arctic Dave]

22. They wouldn't be able to use them too hard. The Putrid Act will put a stop to that.

[dysfunctional press]

8. capital gains & interest SHOULD be taxed as regular income....with one caveat-

the current tax rate on capital gains/interest should stay in place for the first 150k- after that, it should be treated as regular income.

the reason for exempting the first 150k(an arbitrary number i based on your brackets) is that it wouldn't otherwise be fair to those who have saved/invested to fund their retirement. *disclaimer*- it would have no effect on my finances, as i don't have cap gains or investment income.

[Hydra]

16. So exempt IRAs from the tax bracket

And Savings programs for schooling. Heavy penalties for early withdrawal, as there are now.

An intelligent tax system isn't hard to craft- it's hard to get millionaires to sign off on. "CLASS WARFARE!" they scream...

What the hell do they call what they're doing, then?

[DemocratInSoCal]

10. You CAN'T Raise Taxes!!!!!

How dare you propose something that makes sense.

OH MY GOD!!! YOU USED THE "T" WORD!!!!

[mac2]

31. President Clinton did.

They said it would ruin the economy...you know since money trickles down from the royals to the serfs. That did not happen. We were on the way to paying off the Reagan debt of over twenty years ago.

[2rth2pwr]

11. Perfect cure for a recession.

[xioaping]

13. Taxes shell game taxes only paid by people

You can try and tax the corporations all you want but they only pass the tax on. That means that you and I pay it. They all work for after tax profits. To get their they just pass along any costs in the price of goods to account for the cost of the tax.

For example, you want to put a tax on a Honda motorcycle. Honda puts the tax in the price. You pay the tax.

It is not a solution. It is a shell game. Show me otherwise and I will be happy to agree with you.

[Stinky The Clown]

17. Okay .... so ..... then what do you suggest?

...... just let them continue to rape us? :shrug:

[xioaping]

26. Only stating what I believe not offering solution sorry

Seems China tried something else and it did not work very well so I am fresh out of solutions.

[Arctic Dave]

23. They would be able to do that only to the point of not

running off their customer. If they try to keep the same profit margins they would most likely shoot themselves in the foot.

[xioaping]

27. Two thing for certain Profit and Taxes

All taxes go up evenly for all companies then they all have the same price. Actually, when they get a tax increase they use that as an opportunity raise prices to cover the tax plus a little more. They use the expectation of higher price to get an even higher price.

If the tax only apply to US companies then countries outside the US have advantage. If you put on import tax to equal it out, guess what? People pay more taxes.

I'm tired of the ruling political elite and the corporations getting into my pockets. Why should I cheer the government? They are not my friend.

[texastoast]

15. End the war

Nothing will help until we do.

[Stinky The Clown]

18. Ending the war, while the right thing to do, won't have as much economic imapct as it might seem.

At least not this deep into it. At this point we have a crushing debt.

I am, of course, in favor of an end to the war yesterday, but it will not be an economic salvation.

[texastoast]

24. Not for a long time

When I got my taxes done, the accountant said we were getting a rebate, and "Actually, you are borrowing the money from your kids. Your kids will be paying for your rebate."

[Tashca]

19. I'm up for your proposal!!

:thumbsup:

I'm sure there will be much fine tuning, but certainly the 50K or less should pay none. Maybe indexed to inflation for the future.

BTW...I'm not in the tax bracket. But I do understand how that would stimulate the economy in a significant way!!

[FiveGoodMen]

20. Raising taxes worked the last time it was tried

(No, I'm definitely NOT being sarcastic)

[Cleita]

21. One tax that we don't have that benefits the rich is

a sales type tax on services. When you purchase services like your accountant, lawyer, financial advisor, pool guy, landscape architect and so on, no one attaches that six percent on the receipt that poor people buying necessities at Wal-Mart have to pay.

[Postman]

25. Cut the War Dept. budget in half.

The Empire is dead.

[qwertyMike]

29. Bush borrowed

instead of raising taxes (Read my lips Daddy)
Same difference.
The loan will have to be repaid by higher taxes on future generations (Mostly to China, Japan and India I add)

Like selling the furniture to pay the mortgage.

Borrowing to finance wars (or anything) = Higher taxes

Duh

Mike

[Booster]

30. Best, most logical plan I've seen yet. I'm voting for you.