Major Impending Tax Increase – Curtis Dubay

Major Impending Tax Increase –  Curtis Dubay

so i have a fifteenth this kind tax day
and uh… it’s ties the annual time for everybody here hysterical about taxes
that said joe biden today had something to say about the difference between the uh… buffet rule and the ronnie
rollers with sue pies president by that the buffet rule says no one making more than i million dollars will pay a smaller share
of their income taxes then middle-class families too thoroughly role says at the very wealthy
should keep every tax break in loophole they have and get additional new tax
cuts for every year that are worth more than with the every
middle class family makes in eighty-year an entire year the roomie rule says let’s don’t want to on the tax cuts for the wealthy so curtis today as weather so their
determination senior policy analyst and tax policy heritage dot org recourse the website
and curtis welcome the program retirement icl you’re welcome thanks for joining us
i see a this uh… article the decision issue
brief that you guys have put out tax not getting massive tax increase comments
why in god’s name dark uh… and at the appropriate but the
applecare uh… and uh… what that is is that the
uh… thirty nine percent thirty nine point six percent tax bracket tax rate for very very wealthy people
that gave us a balanced budget and started paying down the national debt
under bill clinton uh… which got blown up by by george w_
bush with the bush tax cuts for the top two percent that’s going to go away and so that
their t five percent dot actually we have right now is going to go up to
thirty nine point six percent holy cow its gonna raise fifty six billion
dollars well that’s a terrible thing bigger issue than just desperation the
bush camp if interested how great going on for alburn we’re
talking five hundred billion dollars in one year alone administration the bush
asked up to keep it in the which are for middle income families the operation the
payroll tax cut yet desperation impasse so the payroll tax cut that was the
democratic proposal year draper of that i think that went back it will be a
carrot cake uh… it’s so any tax any temporary tax cut when it expires is
considered a tax hike but you guys well eight it was at one point temporary but i
think that effort on the most expensive temporary too now they’re not twelve year that can
break ten years it was it ten years it was best for their was extended for this
exactly they’ve been in place for twelve years they’re not enter and there were
never meant kennedy temporary anupam pre-authorized entities everywhere with
the passes laws rather than a c business center you know that uh… the answers
because it didn’t hurt in require it’d require he uh… majority it didn’t it didn’t require a super majority in
congress to pass will that help that how reconciliation work at how the democrats
got to obama care right and so uh… it’s temporary though
bob lichter temporary well monetarily challenged in ten years he was done by
the jurors alicia reconciliation but by the people repeat itself right
now i mean navneet they were ever going to be
temporary and twenty-one ok well lets it was never
insanity temporary the immediate consequence of the was the george bush added more to the
federal deficit in his eight years if u exempted ronald reagan for the
equation every other president american history from george washington up till
george w_ bush combined that was the consequence of that and you
want to keep that policy in place a company of a admit you’re gonna put it that they won’t tell
you that they could have taken a major i think that’s breaking the bush had cut
at krishna paranoid it’s a good tax hike curtis university it’d look really good
decorate persona so is if we find ourselves in a war god forbid well
actually i guess where the couple of my now we shouldn’t pay for that we should just
put it on the credit card debt our children with a lot of george w_ bush
did honey revenue coming in a lot so government to pay for spending etc adhere to talk a little
accurate that word ben outlasted fifty years is one pick on me for covers we’re
spending twenty five percent more and we have traditionally we have to be back
down to where it’s better will receive any we’re spending at rates like we were
spending thirty not now as a percentage of government of what what what you are seeing right now
is the cost of governments percentage of g_d_p_ is at rates that we’re back
during the eisenhower administration well appear to be done adventure i will
tell you that waited for a twenty five percent g_d_p_ you taught me about
twenty at a twenty five point two percent
g_d_p_ or no group of that were ever obama
budgeted twenty four percent or you want to be before i killed one twenty percent well
in and you consider canada disaster i can’t be there dennis fifty four percent apropos i think that we we’ve got twenty
percent of government many consider norway disaster fifty
eight percent member will be a pat on go there you can
click and you’re looking at practically percent on talking get the government we have to ask what
i’m talking about it a pat on what do you go we had on my feet are
going thirty one thirty percent uh… so anyway okay see you want and don’t want
if you don’t wanna and the bush tax cuts for millionaires in danish or extend
those and then for the middle class i’ll give you that and and you also want to make sure that
people like me romney who paid thirteen point nine percent over twenty million
dollars of income last year that people in iran they are never going
to pay more than fifteen percent on capital gains income so some people like
paris elton and that ronnie who are in their living sitting on the butts rumble
waiting for the dividend checks to come in whether it’s inherent in the case of
paris hilton are the or the uh… five walden there’s or whether it was uh… is the result of deal building a
business like like there are needed that that income is never taxed at the
same rate of say somebody who is working as a teacher we were concerned about pickelman at ronnie that i am building
new investment when you read the capital you can’t really rooted in the country you get lack investment at the cardinals
wheeler economic growth curly and uh… but job creation so it was so it’s so
during the two do em when ronald reagan set the tax capital gains rate at the exact same rate as the as the top personal income tax rates saying that
they should be the same you think reagan was crazy piano i’m not sure that your current
coupons i am a nineteen eighty three when he raised the copy capital-gains
rates twenty eight percent pertaining to any later detach from when we got it
week ago we learned that yet and that you got it down but uh…
three foot over reagan’s objections yet remember cabins at but we were taxed
at regular income tax report that’s what i’m no they want a v e capital-gains rates
go back to the twenties rooted in denver the anyway it doesn’t matter where you know that
infallible no i did not i would have bet uh… blore keval deo meet morrell
tonight tonight’s lead tape over and over here
you say this why do you uh… let i want to have a
place catabolic bet back on my plate rivalry abt u you’d agree president
particular president but we’ve learned a lot a lot about taxes
parking lot by economic news sent and we know they keeping the cat will be
in fact we are both possible into bed before the talks are those those periods
of time in american history when the capital gains rate was closer to the
ordinary income rate when i was certainly higher than it is right now like for example during the clinton
istration when it was twenty percent right now it’s fifteen percent the clinton istration did not outperform
in terms of investment the bush administration terry sent ’cause the facts don’t support that another kind of a picture we we’re glad
to hear it did what i’m saying is that a tax break i’m
don returns on investment do not influence people’s willingness to invest
people invest because they think they’re going to make money fair pay five
percent more on the money that they make so be it but they’re going to make money
people are not going to stop investing simply because there go there you know
they’re gonna make a little bit of asset acquisition of misunderstanding of how
it works here and that you’re going to demand
certainly return on your on the money you’re putting out we do i read the whole original
investment so if i wanna better about one but that
can require ten percent return it that it had to turn in the morning and
putting up abetting that your shaking the universe
is was so you know i take it from fifteen
to twenty percent were was during the clinton ministration you don’t take it
from the current fifteen percent uh… clint’s twenty percent and you’re saying that when i was a
twenty eight percent during the reagan administration warren buffett must not
have been invested that was one email lot of money as what he really became
the richest man in america let me finish what i’m saying that you’re reading the
hurdle rate dirt in the west total investment well but if we’re going back to people
who buy equipment that will given their attorney required but they do me other
net net we’ve got a pickup in concert simply cannot read me to be a return of
investors require so during the reagan istration we had a horrible economy that
was falling apart and there is no capital formation others
there is playing cattle personally had made me a catfight tax-cutting seventy two point yes we had
a twenty eight percent uh… capital gains rate right now it’s fifteen
percent fuel oil reserves twenty percent i’ll get it i wanna however much investment but i’d
rather than getting get more of a quarter of the lord help me the way to
do that is to put more money in the pockets of working people because they
spend is always generates demands fills a lifetime replicate your market
that we’ve been in latvia fellow that work it’s worked out pretty good we went
from some of those not jobs the a monthly lost a jobs in a curtis today
here is that what you can read all about

Comments (15)

  1. I'm a libertarian and I totally disagree with Curtis Daily at Heritage. Not all tax cuts benefit us, especially when the taxes are benefiting the ultra rich. As Thom pointed out, Reagan and Bush exploded the national debt. It shows supply side economics doesn't work. A more fair approach is to have a flat tax, no loopholes, no tax benefits to corporations. If the conservatives want to cut taxes, then they have to cut government, otherwise the debt goes higher. Let's start with the military.

  2. HOLY SHIT, it's Jay Sekulo Jr.!

  3. It's funny when conservative talking heads run into a real liberal and don't know what talking point to vomit to stop the avalanche of reason from sweeping their precious sound bites away.

  4. This is why I LOVE Thom and Sam Ceder.

  5. Here's my problem with saying something is good for the economy, is that it only takes into consideration the monetary wealth generated, not the human cost. If all we care about is cash, technically slavery was great for our economy. Should we go back to that?

    I highly recommend people look up "The Century of the Self" on youtube and watch it. It talks about how conservative social engineering is used to create a "stable" economy to the detriment of society. True or not, it's food for thought.

  6. The repukes have nothing to fear, that sellout POS in the white house will find some way to do their bidding for them, as he has ON EVERY SINGLE ISSUE so far.

  7. The Heritage Foundation makes me want to puke…

  8. It's simply false to say that the majority of millionaires have a lower effective income tax rate than the typical middle class family. In '09, taxpayers earning over $1mil paid an average of 24.4% of their income in federal income taxes compared to 6.2% for earners between $50k-60k (53k being the household median). Taxpayers near or below poverty line actually have negative tax rates. Looking at total taxes paid versus income paints a similar picture. Disingenuous, misinformed, or both.

  9. This guy was a 'SENIOR' analyst?!? Seriously, he's a more 'advanced' member of his TAX POLICY group and didn't know half of the past history of taxes. And simply saying 'anyway' does not erase history or make us forget you dodged the question. Learn things chump.

  10. Only the super wealthy care about taxes. Figure it out, you dumb Tea Party hicks. You are defending Wall Street fat cats.

    I hope Dubay drives over a bridge that collapses because taxes are not paying for infrastructure repair.

  11. Is it OK to say i want to slap Curtis Dubay in the face ?

  12. Temporary tax cuts are terrible policy. They always result in automatic tax increases later and the voters should reject cotinuing down this path.

    A Senate that will not even allow a budget to come to a vote or will not even deal with what the tax policy / tax rates will be next year needs its majority party / leadership changed this year!

  13. Why would you ever give air-time to a fuckhead who says something as moronic as "There's no such thing as a good tax hike"?

  14. Thom Hartmann is a complete piece of shit. First of all he only mentions tax hikes for the highest tax bracket (how convenient) when the reality is that every single bracket is going up including low income and mid income. He tries to justify these hikes by saying "well what if we go to war?", well Thom, you fucking douche bag, if we go to war again it'll be the biggest fucking mistake the assholes that run our country ever made, because it will break us no matter how much tax we pay.

  15. How much is enough tax Thom, 25%, 30%, 40%, 50%? How about we just give our whole fucking paycheck to the government and they give us whatever change is left over. This shit is going to effect everyone, low income, middle class, & upper class. If I pay 25% I already work 3 months out of the year to pay the gov't, with these new taxes I'll have to work almost 4 months & still get jack shit for it. I still have to pay a fortune for healthcare and feed my family. Fuck you Thom, you presstitute.

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