I find myself unsympathetic towards the Republicans

So President Obama has a tax plan that I guess he got the idea for from Warren Buffet, a guy who makes money for fun and then gives money away for fun. From what I have gathered from CNN and similar news outlets, the idea is to tax investment earnings at the same rates that one taxes income earnings, and since most wealthy people get their giant piles of money from investments, this ultimately means higher taxes towards the wealthy.

Republicans of course replied “not on our lives, this will hurt job creation.” To which Obama responded “I knew they would say that.” To which the Republicans replied “We knew that he would say that he knew we would say that.” To which Obama replied “this is a stupid waste of time, I’ve got Presidenting to do.”

I have two initial thoughts on the matter. The first is whether the Republicans are really speaking for all of their constituents when they say the things they say. I highly doubt every registered Republican is screaming bloody murder about the possibility of taxes, especially since the vast majority of Republicans are not particularly wealthy by American standards (just like the vast majority of everyone is not particularly wealthy by American standards). The second thought is whether the sorts of people who know how to make money from investing are going to be all that deterred from some higher taxes on their earnings.

Because the way I see it, they are still going to be making money regardless. Only an insane person would look at the situation and say “well, I’ll be making slightly less money with this new tax in place, SO I BETTER NOT INVEST AT ALL AND JUST QUIT MY JOB AND GO ON WELFARE, THAT WILL SHOW THEM”. I don’t know a whole lot of millionaires, so it’s a bit difficult to get any kind of consensus on these matters from them, but it seems a bit nonsensical to assume that some higher taxes are going to tip a scale from fortune to ruin.

And for all this talk about it disrupting job creation, I feel like (and this is pure gut feelings that may have no basis in reality) that argument is kind of hollow. Because right now we don’t have that tax yet, so by all accounts job creation should be going through the roof. It seems to me the only people who are going to be deterred are the spiteful ones who would just sit on their dragon hoard  no matter how the economy is going.

And there’s the future to consider. While it seems like a lot of the conservatives made a big deal about the debt limit for no good reason (because apparently we hit it quite often and just raise the borrowing limit all the time), they may nevertheless have a point about the amount of debt this nation has. We do need to take steps to lower our debt, and thus become a more fiscally healthy nation, but that means taxes. You can’t just cut the budget to ribbons and expect that to be enough. I mean maybe it could be, theoretically, but that would take freaking forever. In the long run, it seems like it would be better to raise the federal revenue (taxes) so we can pay the debt down as fast as possible, and thus in the future be able to lower the taxes and have all that job creation and whatever in the future, and have that be more sustainable as well.

I feel (there’s that word again) that too many of the vocal conservatives are taking a short-term view, and being very petulant about it. But if this country is going to flourish for centuries to come, we need to have a long-term view of things.

Also if we can avoid spending trillions on wars and such, that would be great too.

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5 Responses to I find myself unsympathetic towards the Republicans

  1. Rebecca says:

    Republicans of course replied “not on our lives, this will hurt job creation.” To which Obama responded “I knew they would say that.” To which the Republicans replied “We knew that he would say that he knew we would say that.” To which Obama replied “this is a stupid waste of time, I’ve got Presidenting to do.”

    Best summary of the situation I’ve ever read.

    And for all this talk about it disrupting job creation, I feel like (and this is pure gut feelings that may have no basis in reality) that argument is kind of hollow. Because right now we don’t have that tax yet, so by all accounts job creation should be going through the roof.

    I can’t believe I’ve never read that argument before! It really makes a ton of sense.

    • AJBulldis says:

      I’m sure there are a bunch of nuanced and highly sophisticated economist types who could point out just how wrong I am. Likewise, there are plenty of others who could support my statements. It gets really hard to know who to actually listen to, because experts are smart enough to sound convincing no matter what side they take.

  2. I agree. I think it’s also important to note that the tax increase looked at is only 4%. I wouldn’t call that class warfare, and I would pay 4% more in taxes if the ultra rich would do the same.

    I seem to recall a Fox News special on how the poor should be taxed more and are living in the lap of luxury because 81% of them have a Microwave.

    I find the Tea Party’s latest rhetoric to be quite…taxing on my patience.

  3. AJBulldis says:

    I’m sure there are many conservatives who believe in earnest that increased government power, such as higher taxes and laws and whatever, can only lead to the degradation of the nation and everyone in it. However, they really need to step up their game and demonstrate that charities are better suited to caring for the underprivileged and such, and that means actually donating to these charities and maybe even volunteering with them. Otherwise the “big bad government” is going to keep stepping in and doing it themselves.

    People shouldn’t talk about the government making things worse unless it is while they are out there making things better.

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