Pelosi suggests top earners pay even more in taxes
WASHINGTON (AP) - House Democratic leader Nancy Pelosi isn't ruling out pushing for upper-income earners to pay more even after the "fiscal cliff" deal that raised their taxes.
She tells CBS' "Face the Nation" that "I'm saying that's not off the table." The California Democrats isn't getting into specifics but she does discuss changes to tax law that might involve deductions and other breaks.
The former House speaker also says the current Republican Party isn't the "Grand Old Party that did so many things for America that commanded so much respect."
She says the country needs a strong GOP but she describes the current party as a "really over-the-edge crowd" that's dominated by an element of "anti-government ideologues" committed to opposing President Barack Obama.
She tells CBS' "Face the Nation" that "I'm saying that's not off the table." The California Democrats isn't getting into specifics but she does discuss changes to tax law that might involve deductions and other breaks.
The former House speaker also says the current Republican Party isn't the "Grand Old Party that did so many things for America that commanded so much respect."
She says the country needs a strong GOP but she describes the current party as a "really over-the-edge crowd" that's dominated by an element of "anti-government ideologues" committed to opposing President Barack Obama.
Democrats never see a dollar they don't want. Hey Pelosi,how much do you pay in federal income taxes ? Â or do you and your husband have it all overseas ?Â
Pelosi is advocating doing what France did that has caused many of their wealthy to bug out and move to other countries. Ok so they have more money than the average bear, but they earned it (at least most of them did) and they should pay a little more in taxes, but don't try to fund a country off the backs of a few wealthy. What this government should do is try cutting spending instead of opening new holes to dump more money into.
What an IDIOT!Â
Notice the key word "earners." I have no problem with Pelosi and her husband making a zillion dollars off their real estate holdings and investments but let's not kid ourselves, their effective tax rate is not going to be much affected by an increase in income tax rates as most will be in the form of capital gains and dividends. End of sentence.
Â
Maybe she can start with eliminating those depreciation schedules for commercial property, talk about a loophole. Then we'll know she's serious. Not holding my breath.
Â
Â
And she really thinks the wealthy are going to voluntarily pay up?
Tax corporate profits made overseas like every other country does. There is something wrong when Apple pays 6% corporate income tax.
Â
And Republicans need to stop lying when they say corporate tax rate is 35%.  It isn't. Nobody pays that. Not even close. Â
 @lakeview That's a good way to make corporations leave the US and become completely based overseas. If I had a massive company, and the gov't wanted to tax income that had nothing to do with them, I'd leave.
@Dredd57  No you don't seem to understand. Other countries tax corporate profits regardless of where the business is. U.S. companies already will ship jobs oversees if that is profitable. These are separate issues entirely.Â
 @Hagar  @Dredd57  @lakeview Have a nice night...
 @Getov Mylon  @Dredd57  @lakeview So then what you pay in income tax is irrelevant to the income tax of the corporation, following the same logic. The corporation and the shareholder are two different people.
Â
And I was audited by the IRS in Bellevue. A very professional experience, I might add. No complaints - though I did have to write a $2,000 check!
 @Hagar  @Dredd57  @lakeview What you paid in tax is irrelevant to the income tax of the store owner.  If the store owner makes a profit, he gets taxed on that. If the store is a corporation, the money will be taxed twice. Once at the corporate level and once at the individual level.
Â
Â
By the way, try that argument with the IRS when you file this year. They will be happy to explain it in further detail at the Federal Building on Second Avenue. Rubber gloves not supplied.
Â
 @Getov Mylon  @Dredd57  @lakeview Ok, I follow you. I hear you saying the corporation and shareholder are paying income tax twice on the same income. I am paying income taxes then sales taxes. So following your logic, the owner of the store that I purchase something from should not have to pay income tax on that profit - because I already paid income tax on that money. Correct? Not trying to be a jerk here, you do have me thinking.
 @Hagar  @Dredd57  @lakeview "Do you think it is fair that I pay income tax on my income then pay sales tax on something I buy with that money that I already paid income taxes on?"
Â
Answer: Yes.
Â
A shareholder is a part owner of a corporation. The corporations profits are taxed, then the shareholder is taxed.  In effect, the shareholder (owner) is being taxed twice on the same profit. That is different than paying a sales or property tax.Â
 @Dredd57  @lakeview Do you think it is fair that I pay income tax on my income then pay sales tax on something I buy with that money that I already paid income taxes on?
 @lakeview You don't seem to understand. A company will avoid double taxation by leaving. Do you really think its fair for a person or company to pay taxes TWICE on the same income?
 "Nobody pays that."
Â
GE. That company springs to mind. I wonder who the head of that company is that donates so much time and effort to the Blue Cause? Probably for altruistic reasons.
Â
I say zero rates for corporatism...I mean corporations... in exchange for individual dividends and cap gains being taxed at regular income rates.
...and let there be free plastic surgery for everyone
@Duncan Construction She can afford it. She's extremely wealthy independent of the money she's earned in Congress.Â
This comment has been deleted
@the unvarnished truth @Duncan  I like how Robinsnest gives you a "like" even though your statement is complete BS. Typical for you guys to believe anything without any evidence. Maybe Robinsnest can provide some proof of your statement. Or not. It's easier to just be ignorant and hate the other side because of garbage lies.Â
@the unvarnished truth She and her husband own a lot of real estate in California, a wine producing vineyard, and some sports teams.Â
Â
I don't know what "corporations" her husband owns that employ sweat shop labor. Can you name any of them please?Â
@Alert Eagle @the unvarnished truth  You just make a claim without any evidence whatsoever. And the Republicans eat it up as usual.  This is why you guys are the party with the majority of stupid people in it.Â
 @the unvarnished truth  @lakeview Shh, the ignorant may hear you.