Comments on: Larry Summers: Tax increases won’t hurt economy

By: RMM

RMM — Thu, 11 Feb 2010 17:07:01 +0000

Consider the source, period! Why should We be required to pay higher taxes to make up for the incompetence, greed and arrogance of both sides of the political aisle?

By: drewbie

drewbie — Tue, 03 Nov 2009 14:31:51 +0000

The newest tax raised the federal rate from $.39 / pack to $1.01 / pack, and was signed into law Feb 4, 2009.
http://en.wikipedia.org/wiki/Cigarette_t axes_in_the_United_States

And it doesn’t matter if the taxes have been going up for years, or what it funds. Higher taxes are higher taxes.

By: bill in arizona

bill in arizona — Tue, 03 Nov 2009 05:07:45 +0000

You are wrong…that tax was set to go into place before Obama went into office. Cigarette taxes have been increasing over the past couple of years. In addition, this tax money is used to help offset healthcare costs. Which increase because of smokers.

By: drewbie

drewbie — Mon, 02 Nov 2009 21:22:35 +0000

Bill in Arizona-”Name one tax that has increased since Obama has come into office.”

Cigarettes.

By: bill in arizona

bill in arizona — Mon, 02 Nov 2009 19:59:41 +0000

Obama’s $787B Stimulus package is NOT the cause of all our woes.

By: bill in arizona

bill in arizona — Mon, 02 Nov 2009 19:58:57 +0000

I heard Glen Beck call the Obama government “marxists” today on the radio. Go look up what marxism is. The social programs being rolled out at the moment (stimulus package) are to try and save jobs and the economy. The government quits spending right now things will get a lot worse. The right is name calling and trying to pin the mess they created on the Dems. The country is in debt something like $14Trillion. Obama’s $787B Stimulus package is the cause of all our woes.

By: bill in arizona

bill in arizona — Mon, 02 Nov 2009 19:50:42 +0000

posey…Bush enjoyed 6 of his 8 years with a Republican congress. They are the guys that set this whole mess up. Now you want to put them back in because you don’t agree with the way those problems are being addresses. Bush is the one who started the bailouts of corporate America. He gave AIG their first billions. Name one tax that has increased since Obama has come into office.

By: Benny Acosta

Benny Acosta — Mon, 02 Nov 2009 19:46:57 +0000

This is exactly the problem. We will NEVER have a sustainable economy on the consumption model. It fuels debt with no product of value in exchange.

Taxes on the wealthiest to be reinvested into the citizenry will assure a stable and sustainable economic path. Doing more of what we have been doing will only lead to more of the same (unemployment, massive debt, and homelessness).

The business sector was loud in its declaration of “survival of the fittest”, when the economy was doing well only two decades ago or less. But those that were elected in order to ensure the interests of the individual citizen, were lured and enslaved by the profits and benefits that corporations (being treated as citizens under our system of law), were able to provide.

As far as “Obamacare” goes, it’s interesting to note how many people waved the flag and rallied to the “fight against terror”. That ridiculous war is one of the main reasons we’re in debt right now. If as a country we were willing to go into debt in order to kill. Then surely we can make a few economic adjustments to ensure that all citizens have access to something as fundamental to quality life, as health care.

Who gives a damn if costs more? We’re saddled with debt because we thought it would be a good idea to invade a country that had nothing to do with 911 (Iraq), only to let Bin Laden make a clean getaway and die a free man. He’s probably getting it on with his 77 virgins right now.

That was wasted money. I would rather pay a bit more tax for the kind of health care I know our healers are capable of delivering, in full confidence that I won’t be turned away or denied treatment because my plan doesn’t cover it.

By: Posey

Posey — Mon, 02 Nov 2009 18:26:13 +0000

Does anyone believe Larry Summers? Of course, tax increases have a negative impact on the economy. I’m not in the very top tax bracket, although you don’t have to be a millionaire to be there, but tax increases place a definite negativity on my role as a consumer. Of course if I have to pay more of my income in taxes, I’ll have less to spend as a consumer. With all the spending this administration is doing, I already have cut back drastically because I know as soon as “Obamacare” is passed, I will start paying more for health care as well as everything else. This tax and spend administration has to be reined in. We need to get rid of their majority in both houses of Congress as a beginning.