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Does Pawlenty's tax proposal fall short in your opinion?

— The estimated 45 percent of U.S. households that did not pay income taxes in 2010 would see no change in their tax rates.

— Individuals would pay 10 percent tax on the first $50,000 of income. Couples earning $100,000 would also pay that rate.

— "Everything above that would be taxed at 25 percent," Pawlenty said.

He also wanted to cut business taxes, reducing the current rate from 35 percent to 15%.  He also proposes  that any services available privately, such as the postal services or mortgages, should not be something government handles. He said he would require a vote in Congress to extend any regulation or he would cancel it. And he said he would eliminate taxes on investments and inheritances.

http://www.bostonherald.com/news/us_politics/view.bg?articleid=1343694

 

 
yourspecialkid

Asked by yourspecialkid at 10:58 AM on Jun. 7, 2011 in Politics & Current Events

Level 35 (74,634 Credits)
This question is closed.
Answers (33)
  • I LIKE your ideas! Would definitly be a case of culture shock for all of them, if they complained we could just remind them that if a person they claim to so admire (George Washington) could live in those conditions and worse for awhile to benefit his country, so can they......Gee we could all really have some fun while straightening out the mess couldn't we...
    meriana

    Answer by meriana at 8:21 AM on Jun. 11, 2011

  • I agree with you YSK-
    Sisteract

    Answer by Sisteract at 11:10 AM on Jun. 7, 2011

  • I also agree with you on this one. To be a productive society we all have to do our part and even the poor need to contribute in some way. I mean if there is absolutely NO income, that's a different story but all the credits and 5 thousand dollar refunds for people making barely that much in a year, that's too much. We all need to contribute for our nation to flourish and be productive.

    amazinggrace83

    Answer by amazinggrace83 at 11:10 AM on Jun. 7, 2011

  • Cuts in capital gains taxes have been proven to increase money in general in the economy eventually causing more tax revenue. With this, he is correct, but he still is not conservative enough for me. The middle class is going to pay regardless of who is in the White House that's just the way it is when you have a deficit to deal with and a large middle income population.
    Anonymous

    Answer by Anonymous at 11:40 AM on Jun. 7, 2011

  • I would have to read all of it not just parts before having an opinion. I probably fall in that category that pays nothing and uses resources, sorry about that but were pretty poor.
    Anonymous

    Answer by Anonymous at 11:05 AM on Jun. 7, 2011

  • No one should be getting out more than they put into the system. No group should be allowed certain economic protections and advantages that other groups do not share. The groups at both ends of the economic spectrum have enjoyed advantages that are now putting too much of a squeeze and strain on the middle class. Economic policies started during the RR admin and continued for the last 30 years, have destroyed our manufacturing base which in turn has eliminated far too many middle class jobs. Bottom line, the middle can no longer support the ends-

    Sisteract

    Answer by Sisteract at 11:22 AM on Jun. 7, 2011

  • Just from the part posted here, I think YSK is right, it will end up raising taxes on the middle class, which is what generally happens. I wouldn't have a problem with getting rid of the inheritance tax, but getting rid of taxes on investments sounds a lot like Ryan's proposal to eliminate the Captial Gains tax, just worded differently, cut corporate taxes to 15% with all the loopholes still in place and they won't be paying taxes (not that a lot of them pay taxes anyway) leaving it up to the middle class to make up the difference.
    meriana

    Answer by meriana at 11:29 AM on Jun. 7, 2011

  • the 45% that does not pay should pay!! they are the ones getting all the benefits, they have to pay for something and its wrong that that hard working people have to pay and live pay check to pay check.


    WE ALL SHOULD PAY THE SAME TAX and if you are worried about the rich than become one by working 24/7
    gammie

    Answer by gammie at 12:03 PM on Jun. 7, 2011

  • So eliminate the Capital Gains tax & while you'll still be paying taxes on your income, the very wealthiest who derive most of their income from Capital Gains won't.

    Capital gains are often re invested so that takes money out of the market (as in investments for growth) Not a good thing
    Carpy

    Answer by Carpy at 3:53 PM on Jun. 7, 2011

  • No problem YSK, I'm certainly no economist. It just doesn't make sense to me to make cuts, etc when those cuts affect a relativly small amount of the population while at the same time cutting services that many depend on (the elderly). Without the Capital Gains tax, more money MIGHT be reinvested but where, here or in Asia? Yep we need to cut Gov. spending. Lets start with cutting ALL funding to charitable & non-profit groups that clearly don't need the funds to survive. Lets end all the loopholes for huge corporations and give some of them to the small business owners, it just might allow them to expand. Lets make it LESS profitable to send work over-seas. How about we cut foreign aide in half & only give to those countries that can clearly show the aide is ALL being used for the benefit of their country as a whole & not to provide lavish lifestyles for their heads of state. What about, instead of giving tax (cont)
    meriana

    Answer by meriana at 1:36 PM on Jun. 9, 2011

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