Neil Cavuto Takes On Democratic Rep.: What About The 51% Who Pay No Taxes?
Frances Martel
Mediaite
8/6/2011
…Rep. Cohen came on the program and argued that a tax reform bill without revenue increases was near worthless, and railing against the “intransigence” of the Tea Party. Cavuto wasn’t buying any of that, however, telling him that when he “said shared sacrifice… none of you ever mention the 51% of Americans that don’t pay taxes at all.” Rep. Cohen argued that that’s “not the issue” and, anyway, “most of those people don’t have any money” to pay taxes with, and argument Cavuto described as a “red herring” since there were far more people not paying taxes than small corporations getting breaks. “Before you start demanding that some people pay more, maybe get everyone to put skin in the game?” he offered.
After a bit of crosstalk in which the Congressman questioned Cavuto’s numbers, Cavuto continued hammering in the point, that “you keep hitting up the same group and you leave more than half the people in this country out of it entirely.” Rep. Cohen argued that it made no sense to make people who had little money pay taxes. “You go where the money is,” he argued, asking facetiously if, instead of banks, they should go after pawn shops. “It’s not balanced when you leave a whole group out,” Cavuto concluded, exasperatedly. “It drives me nuts.”…
The complete article is at Mediaite.
H/T TheRightScoop
Related: The British get it. They’ve been trying to pay for Socialism for over 50 years. From The Telegraph, the conservatives of Britain believe if their high taxes are reduced their economy will improve, Cut taxes now, Tory grass-roots tell Osborne.
This article, also in The Telegraph, is going viral on conservative and libertarian blogs across the U.S. and for good reason: If we are to survive the looming catastrophe, we need to face the truth, in which Janet Daley says the Tea Party has got it right by recognizing “where America’s policies were heading. The idea that a capitalist economy can support a socialist welfare state is collapsing before our eyes.”
From The Daily Mail of London, $3 trillion wiped off value of shares in ‘week from hell’ for world economy and Analysts warn DOWNGRADED U.S. credit rating could lead to hiked interest rates and borrowing costs :
- Downgrade may send shockwaves locally AND globally
- Borrowing costs for consumers and government to rise
- S&P cuts long-term credit rating from AAA to AA+
- Comes after Obama signed bill to reduce fiscal deficit
Update: Greenspan: “This is not an issue of credit rating, the United States can pay any debt it has…” And, at American Power, The Debt Downgrade Blame Game with video
