What about the rich

[.... callchet ....]

democrats support for the tax hike for the above $250,000. And if it ever does materialize will it be meaningful or a token 5% or something like that? He is already backing away from repealing the bush tax cuts.

[Veritas_et_Aequitas]

1. I'm guessing a token.

We really should return to the 1950s tax structure.

[.... callchet ....]

3. 1944 and 1945

[.... callchet ....]

6. Notice how the level of tax rates parallels the economy/

High taxes good economy, low taxes bad economy
U.S. Federal Income Tax Rates
Since 1913
Applicable
Year Income
brackets First
bracket Top
bracket Source
1913-1915 - 1% 7% Census
1916 - 2% 15% Census
1917 - 2% 67% Census
1918 - 6% 73% Census
1919-1920 - 4% 73% Census
1921 - 4% 73% Census
1922 - 4% 56% Census
1923 - 3% 56% Census
1924 - 1.5% 46% Census
1925-1928 - 1.5% 25% Census
1929 - 0.375% 24% Census
1930-1931 - 1.125% 25% Census
1932-1933 - 4% 63% Census
1934-1935 - 4% 63% Census
1936-1939 - 4% 79% Census
1940 - 4.4% 81.1% Census
1941 - 10% 81% Census
1942-1943 - 19% 88% Census
1944-1945 - 23% 94% Census
1946-1947 - 19% 86.45% Census
1948-1949 - 16.6% 82.13% Census
1950 - 17.4% 84.36% Census
1951 - 20.4% 91% Census
1952-1953 - 22.2% 92% Census
1954-1963 - 20% 91% Census
1964 - 16% 77% Census
1965-1967 - 14% 70% Census
1968 - 14% 75.25% Census
1969 - 14% 77% Census
1970 - 14% 71.75% Census
1971-1981 15 brackets 14% 70% IRS
1982-1986 12 brackets 12% 50% IRS
1987 5 brackets 11% 33% IRS
1988-1990 3 brackets 15% 28% IRS
1991-1992 3 brackets 15% 31% IRS
1993-2000 5 brackets 15% 39.6% IRS
2001 5 brackets 15% 39.1% IRS
2002 6 brackets 10% 38.6% IRS
2003-2008 6 brackets 10% 35% IRS

[Veritas_et_Aequitas]

7. Crazy coincidence that. Think anyone else will notice? nt

[.... callchet ....]

9. I am sure and I am sure

they can explain it o death.

[GoesTo11]

2. The tax cuts expire in 2010.

It's just not worth the political capital to go out of his way to stop them a year earlier in the middle of a recession. Much wiser to just not make a big deal of it and then have a victory when the cuts expire.

[.... callchet ....]

5. He talked about raising

the taxes on the above $250k. If he lets the Bush taxes expire as they will in 2010, then it seems that he is not going to raise taxes at all.

[mrreowwr_kittty]

10. Just letting the Bush tax cuts expire would help a lot.

They would go back to what they were under Clinton.

[.... callchet ....]

11. He promised to raise the taxes on the over $250k

Letting the Bush tax cuts expire is not "him" raising the taxes on the over $250k. The economy needs an infusion of real money, not more debt on everyone. There are trillions of dollars that he could tax that would stimulate the economy, reduce the debt and not crete more debt. Raising taxes in a recession is not a bad idea. Potential horde money in a recession. That is one reason why there is a recession.

[angryfirelord]

4. It's hard to measure...

...since there are so many other factors out there. However, the concept that cutting taxes will magically increase revenue & GDP numbers has been proven false. It's just that the WSJ and other places like the Heritage Foundation won't let it die.

http://www.cbpp.org/7-12-05bud.htm

Will we get trillions of dollars if the Bush tax cuts are repealed? More than likely not. However, even if they only amount to $100 billion, that's still enough to fund vital infrastructure projects such as more wind farms and solar plants. Right now, we need that extra money.

[.... callchet ....]

8. If you make under $50,000

you shouldn't pay any taxes. The big guys got together and got their taxes reduced, now is time for the little guys to get together and get rid of their taxes. Let the people who make the most pay for the services provided for by the furnished labor pool.

[.... callchet ....]

12. Rasing taxes helps end a recession..

Letting the Bush tax cuts expire is not "him" raising the taxes on the over $250k. The econommy needs an infjusion of real money, not more debt on everyone. There are trillions of dollars that he could tax that would stimulate the economy, reduce the debt and not crete more debt. Rasing taxes in a recesssion is not a bad idea. Potential horde money in a recession. That is one reason why there is a recession.