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ORIGINAL: DomKen

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ORIGINAL: Thadius

Speaking of inheritance and future generations...

How do the Obama supporters feel about the increase of the estate tax to 45%?

Do you really want an answer? I've got no problem with making the inheritance a very progressive tax. Start at something like 5% for estates valued ay 100k and max out at 95% for estates valued at 1 billion+. Same thing for gift taxes and any other attempt to distribute wealth across generations,  trust funds and the like, or to move wealth out of the country.

The inheritors didn't earn the money and I have no problem breaking down an increasingly stagnant class structure.

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What ramifications will there be from making the National Minimum Wage $9.50?  I can see a need for such on a state by state basis, California, Illinois, and New York come to mind right away.  How would that increase effect the cost of living, jobs, and economies in places like Mississipi, Arkansas or rural states?

From the Obama site:

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Raise the Minimum Wage: Barack Obama will raise the minimum wage, index it to inflation and increase the Earned Income Tax Credit to make sure that full-time workers earn a living wage that allows them to raise their families and pay for basic needs.

So nothing about a specific target and by indexing it to inflation it will roughly remain at the same level permanently. The economy would adjust as it always does to increases in the minimum wage and I imagine Tyson and some of the other agro processing facilities that employ hispanics primarily (because no one else will do that nasty work for starvation wages) will see more US citizen applicants.

John McCain on the minimum wage:

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...

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I am curious about what jobs will the tax preparers that get laid off or fired be doing?  Or are companies like H&R Block and Hewlett supposed to keep those folks employed with such a loss in demand? 

Since the plan involves both job retraining and job creation I'd guess their isn't any need for such a proposal. Seems awfully minor nitpick to me.

Thanks for making my point though.

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ORIGINAL: DomKen
Maybe you should try reading it. It contains lots of very specific proposals.
http://www.barackobama.com/issues/ 
Time to put the lie to some more of your BS. Which proposal do you claim is short on details? Ask specific questions. I'll answer them with direct quotes from the website.

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Do you really want an answer? I've got no problem with making the inheritance a very progressive tax. Start at something like 5% for estates valued ay 100k and max out at 95% for estates valued at 1 billion+. Same thing for gift taxes and any other attempt to distribute wealth across generations,  trust funds and the like, or to move wealth out of the country.

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ORIGINAL: TheHeretic

       Not impressed (except by the Twin Cities joke - that was funny and well delivered).  She said what was expected of her, but didn't endorse him.  McCain is using her own words to attack Obama as unqualified right now, and she stood up there without recanting any of them.

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Toward a Nuclear Free World: Obama will set a goal of a world without nuclear weapons, and pursue it. Obama will always maintain a strong deterrent as long as nuclear weapons exist. But he will take several steps down the long road toward eliminating nuclear weapons. He will stop the development of new nuclear weapons; work with Russia to take U.S. and Russian ballistic missiles off hair trigger alert; seek dramatic reductions in U.S. and Russian stockpiles of nuclear weapons and material; and set a goal to expand the U.S.-Russian ban on intermediate- range missiles so that the agreement is global.

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John McCain Will Work With Russia On Nuclear Security. John McCain is prepared to enter into a new arms control agreement with Russia to reduce nuclear weapons. He will work toward agreement with Russia on binding verification measures based on those currently in effect under the START Agreement. Working with our allies, John McCain will explore ways with Russia to reduce – and hopefully eliminate – deployments of tactical nuclear weapons in Europe.  He will work with Russia to build confidence in our missile defense program, seriously consider Russia’s recent proposal to work together to globalize the Intermediate Range Nuclear Forces Treaty and redouble our common efforts to reduce the risk that nuclear, chemical, or biological weapons may fall into the hands of terrorists or unfriendly governments.

John McCain Believes We Should Begin A Nuclear Dialogue With China.  We should work to achieve the greatest possible transparency and cooperation on nuclear force structure and doctrine. We should work hard to bring China in to line with the practices of the other four nuclear weapon states recognized in the Non-Proliferation Treaty. We should also work to see China move toward a moratorium on the production of additional fissile material.

John McCain Will Also Address Nuclear Testing. As president, John McCain will continue America’s current moratorium on testing and begin a dialogue with our allies to identify ways we can move forward in limiting testing in a verifiable manner. This includes taking another look at the Comprehensive Test Ban Treaty to see what can be done to overcome shortcomings that prevented it from entering into force. 

John McCain Opposes The Development Of New Nuclear Weapons Unless Certain Specific Conditions Are Met.  John McCain would only support the development of any new type of nuclear weapon that is essential for the viability of our deterrent, that results in making possible further decreases in the size of our nuclear arsenal, and furthers our global national security goals. John McCain will cancel all further work on the so-called Robust Nuclear Earth Penetrator.

John McCain Will Work To Strengthen Existing International Treaties And Institutions To Combat Proliferation And Develop New Ones Where Necessary. The U.S. should move quickly to negotiate a Fissile Material Cut-off Treaty and improve the ability to interdict the spread of nuclear weapons and material under the Proliferation Security Initiative. John McCain will increase funding for American nonproliferation efforts, including the Cooperative Threat Reduction programs established by the landmark Nunn-Lugar legislation.

Strengthen The Non-Proliferation Treaty (NPT): As President, John McCain will work to strengthen and enhance the non-proliferation regime. We need to strengthen enforcement of the so-called “atoms for peace” bargain by insisting that countries that receive the benefits of peaceful nuclear cooperation must return or dismantle what they receive if they violate or withdraw from the NPT. 

Increase IAEA Funding And Enhance The Intelligence Support It Receives: The UN Security Council should require that international transfers of sensitive nuclear technology be disclosed in advance, and further require that undisclosed transfers be deemed illicit and subject to interdiction. To enforce treaty obligations, IAEA member states must be willing to impose sanctions on nations that seek to withdraw from it.

John McCain Supports The U.S.-India Civil Nuclear Accord. This accord strengthens our relationship with the world's largest democracy and further involves India in the fight against proliferation. John McCain will actively engage both India and Pakistan to improve the security of their nuclear stockpiles and weapons materials.

To Prevent Countries From Using Civilian Nuclear Programs As A Cover For The Development Of Nuclear Weapons, John McCain Will Limit The Further Spread Of Enrichment And Reprocessing. John McCain supports international guarantees of nuclear fuel supply to countries that renounce enrichment and reprocessing.  He also supports establishing international nuclear enrichment centers and an international repository for spent nuclear fuel.

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ORIGINAL: housesub4you



The problems is everyone's talking about what the other person can't do, instead of what they can and will do.

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The inheritors didn't earn the money and I have no problem breaking down an increasingly stagnant class structure.

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Invest in the Manufacturing Sector and Create 5 Million New Green Jobs

• Invest in our Next Generation Innovators and Job Creators: Obama will create an Advanced Manufacturing Fund to identify and invest in the most compelling advanced manufacturing strategies. The Fund will have a peer-review selection and award process based on the Michigan 21st Century Jobs Fund, a state-level initiative that has awarded over $125 million to Michigan businesses with the most innovative proposals to create new products and new jobs in the state.

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ORIGINAL: Thadius

Check your party's platform the starting dollar ammount as $9.50... "- Raising the minimum wage to $9.50 by 2011 and indexing it to inflation and expanding the earned income tax credit."
What effect is that going to have on rural communities, or even in lower cost of living areas... How many high-school kids are going to be without work because the business can't afford to hire them on for the extra cost?

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Why should my kids or grandkids have to pay tax on money or land that I have already paid taxes on?  When I die, why should my heirs be penalized if I was successful?  Isn't the idea of working hard and saving, to make a better life for those that are coming behind me, and perhaps a piece of land or 12?  If my estate is worth X ammount of dollars when I die, my heirs may have to sell close to half of what I have worked for, tell me how that is a good thing again?

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Ah, so his plan is to move accountant types into those green jobs, that are going to be created by companies that will be paying more in taxes?  How does taxing successful corporations more, encourage job growth again?

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I have no idea if Obama endorses that number or not.

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ORIGINAL: Mercnbeth

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ORIGINAL: DomKen
Maybe you should try reading it. It contains lots of very specific proposals.
http://www.barackobama.com/issues/ 
Time to put the lie to some more of your BS. Which proposal do you claim is short on details? Ask specific questions. I'll answer them with direct quotes from the website.

Second request: Who is going to pay for it?

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Do you really want an answer? I've got no problem with making the inheritance a very progressive tax. Start at something like 5% for estates valued ay 100k and max out at 95% for estates valued at 1 billion+. Same thing for gift taxes and any other attempt to distribute wealth across generations,  trust funds and the like, or to move wealth out of the country.

I take it that you've backed away from your commitment to quoting from the Senator Obama site based upon this reply, or is this buried somewhere there?

Your solution is consistent with the Democratic Socialist agenda pointing to an outcome that no personal assets, specifically the survivorship of those assets should be permitted at the individual level beyond an established 'politically correct' amount. I appreciate you being clear on that point.

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How do the Obama supporters feel about the increase of the estate tax to 45%?

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ORIGINAL: DomKen

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ORIGINAL: Thadius

Check your party's platform the starting dollar ammount as $9.50... "- Raising the minimum wage to $9.50 by 2011 and indexing it to inflation and expanding the earned income tax credit."
What effect is that going to have on rural communities, or even in lower cost of living areas... How many high-school kids are going to be without work because the business can't afford to hire them on for the extra cost?

It's in the platform but it isn't part of the Obama plan. It may come as a shock to you as a republican but the Democratic Party platform isn't written to conform to one candidates views. I have no idea if Obama endorses that number or not.

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Why should my kids or grandkids have to pay tax on money or land that I have already paid taxes on?  When I die, why should my heirs be penalized if I was successful?  Isn't the idea of working hard and saving, to make a better life for those that are coming behind me, and perhaps a piece of land or 12?  If my estate is worth X ammount of dollars when I die, my heirs may have to sell close to half of what I have worked for, tell me how that is a good thing again?

How precisely would your heirs be penalized? Would they not still receive an inheritance? So what if it isn't every dime some other person owned. The only place I can see a situation where compromise might be in order is for family owned and operated farms. Otherwise note that the inheritance tax as is and as I would prefer both allow an estates heirs to receive substantial sums.

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Ah, so his plan is to move accountant types into those green jobs, that are going to be created by companies that will be paying more in taxes?  How does taxing successful corporations more, encourage job growth again?

Little history lesson for you, increasing corporate taxes has always been associated with increases in the number of jobs. It's only since 1981 and massive corporate tax cuts pushed through by Reagan's supply siders that we've seen huge downsizing of corporate payrolls. Note specifically that only in the mid to late 80's was the term even formulated since the short sighted policies that drive corporate downsizing are a direct result of the supply side theorists.

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ORIGINAL: Archer

The US already has the highest corporate tax rates in the world.
http://www.taxfoundation.org/blog/show/1188.html

And you want them even higher? Can you say outsourcing of jobs overseas?
Other mations have been lowering their corporate tax rates because they realized one simple fact.
Corporations don't pay taxes they transfer them to their customers and thus become less competative.

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ORIGINAL: DomKen

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ORIGINAL: Mercnbeth

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ORIGINAL: DomKen
Maybe you should try reading it. It contains lots of very specific proposals.
http://www.barackobama.com/issues/ 
Time to put the lie to some more of your BS. Which proposal do you claim is short on details? Ask specific questions. I'll answer them with direct quotes from the website.

Second request: Who is going to pay for it?

First the challenge was to CL not to you and second your question isn't about any specific proposal in the plan.

As to how he's going to pay for his proposals. First ending the Bush tax cuts are worth in excess of 30 billion a year. Increasing corpoarte,estate and windfall profits taxes will also contribute substantially. I will note that McCain has no hard numbers on paying for his propsals either.

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Do you really want an answer? I've got no problem with making the inheritance a very progressive tax. Start at something like 5% for estates valued ay 100k and max out at 95% for estates valued at 1 billion+. Same thing for gift taxes and any other attempt to distribute wealth across generations,  trust funds and the like, or to move wealth out of the country.

I take it that you've backed away from your commitment to quoting from the Senator Obama site based upon this reply, or is this buried somewhere there?

Your solution is consistent with the Democratic Socialist agenda pointing to an outcome that no personal assets, specifically the survivorship of those assets should be permitted at the individual level beyond an established 'politically correct' amount. I appreciate you being clear on that point.

Once again the question wasn't about a specific proposal. Specifically this was the question asked

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How do the Obama supporters feel about the increase of the estate tax to 45%?

So I answered it myself per the request of the person asking the question. Bad form trying to make claims that easily refuted.

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ORIGINAL: celticlord2112

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ORIGINAL: Archer

The US already has the highest corporate tax rates in the world.
http://www.taxfoundation.org/blog/show/1188.html

And you want them even higher? Can you say outsourcing of jobs overseas?
Other mations have been lowering their corporate tax rates because they realized one simple fact.
Corporations don't pay taxes they transfer them to their customers and thus become less competative.

Seems like the Dems want the US to be more like Europe.....right down to the higher unemployment and higher taxes.

"Change we can believe in"?  Say, rather "Change we can do without."

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ORIGINAL: Thadius

Obama took in the $9.50 position from Hillary and Edwards... his campaign folks have already stated as much.

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IF I earn the money, land, or other property, and I have paid taxes on all of it, who decides what ammount is acceptable for my heirs to receive from it?  At least you are honest about wanting to prevent people from building a better future for their kids.  As for penalizing, how else do you describe taxing the same thing twice?  I cannot believe you are in support of redistributing wealth like this, well actually I guess I can.  So much for the American dream, eh?

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Please provide citations about your history lesson.  Higher corporate taxes will force companies to find places that are more conducive to business, not rush in to pay higher rates... A good example is how well Ireland is doing now that rates are at 12.5%  I am for finding and closing some loopholes that multinational companies use to avoid paying taxes, however raising the existing rates is not sound policy.

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I'm all for you building whatever wealth you can, legally. I'm fine with you giving your children excellent educations and seeing that they have comfortable childhoods. I'm not at all in favor of creating a class of people who live off the work of others.

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ORIGINAL: Mercnbeth

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ORIGINAL: DomKen
Maybe you should try reading it. It contains lots of very specific proposals.
http://www.barackobama.com/issues/ 
Time to put the lie to some more of your BS. Which proposal do you claim is short on details? Ask specific questions. I'll answer them with direct quotes from the website.

Second request: Who is going to pay for it?

quote:

Do you really want an answer? I've got no problem with making the inheritance a very progressive tax. Start at something like 5% for estates valued ay 100k and max out at 95% for estates valued at 1 billion+. Same thing for gift taxes and any other attempt to distribute wealth across generations,  trust funds and the like, or to move wealth out of the country.

I take it that you've backed away from your commitment to quoting from the Senator Obama site based upon this reply, or is this buried somewhere there?

Your solution is consistent with the Democratic Socialist agenda pointing to an outcome that no personal assets, specifically the survivorship of those assets should be permitted at the individual level beyond an established 'politically correct' amount. I appreciate you being clear on that point.

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I'm all for you building whatever wealth you can, legally. I'm fine with you giving your children excellent educations and seeing that they have comfortable childhoods. I'm not at all in favor of creating a class of people who live off the work of others. If you can't see that even under my plan the heirs would still inherit sizable amounts, no less than 95k or the total value of the estate if less, then you will not amass any wealth since you cannot do basic math.