Tax cuts don't mean much unless spending goes down, which I don't see happening to a necessary degree under any administration. So my answer would probably be the same; people haven't gotten it through their thick skulls that the problem is our runaway spending, so take away the eternal excuse and let them see what happens.
"Do we let them expire, do we let only certain incomes expire and continue others? What and why?"
sure why not, we are trillions in debt, how can't we talk about cutting taxes.
"Personally, I believe you should extend all or let all expire. That way, not only is it fair, but we do not have drastic changes in incomes that may shift into new brackets. "
I think you don't understand how the bracket system works.
Raising taxes on the top bracket.
That said, I think its kinda worthless increasing income taxes. I think we need to match capital gains tax to the same level as income tax. If your talking about rasing wage taxes, your not talking about increasing taxes for the upper class. Peroid.
"Not to mention, the lion's share of income and wealth are concentrated within the top 1% income group"
and that income is not made from working, and certainly not gained from wage tax. Its gained from capital gains. The money you make by not working, but exploiting other people's work.
If anything, mabey wage taxes in general are too high.
Why does someone making $70k a year pay a higher rate than someone who makes $70m a year. Especially if that $70k comes from a professional career or skilled labor.
But let me make my position clear. This is not about how much you make, this is about how you make it. The top %1 do not earn their money by working. They earn their money by owning stock, and other financial instruments, and do not directly contribute to the economy, the money they "earn" is really taken from the people who do work.
The thing is, everyone keeps talking about "tax the rich", capital gains taxes rarely get talked about, instead we here about raising wage tax taking aim at the upper half of the middle class. This needs to stop.
The only solution is to raise taxes on capital gains. At very least they should be the same as wage tax, with the same brackets.
"Just cutting won't help; revenue is needed ASAP. That's why "tax and spend" Clinton got us a SURPLUS."
clinton got a surplus from the "dot com boom", expanding market for technology gave growth to the economy which would have otherwised collapsed.
After the tech based markets(software, hardware, intarwebingz) matured, the economy cooled off and the dot com bubble collapsed.
Clinton got lucky, and if anything, he almost killed this when he introduced the cybercrime security act of 1996, which would have banned meaningful civilian strong encryption.
This strong encryption is the basis for e-commerce or, "how a random citizen can trust their credit card information online".
The federal government under clinton was very uncooperative with citizen lead initiatives to make good, civilian crypto, and this was the same administration that saw Phil Zimmerman of GPG fame by put on trial for making cryptography software.
Because of the rullings, early web browsers with strong crypto like netscape navigator with 128 bit ssl where hard to come by.
The web persevered because of itself, and the nation persevered because of the web. Not the other way around.
"I ignore everything you say because it was semantics."
No its not. Your accusing me of what your doing. My argument is clear. Its that forces completely eskew to the 4 year presidential
"You ignored Clinton's tax policies and other things that Dumbass Dubya removed."
because they are next to irrelevant in the boom-bust cycle of the market. Your phrasing world events through the narrow lens of your hyperpartisan politics and ignoring everything else.
Anyway, the body that actually passes laws is congress. For most of the Clinton presidency they were republican. So if you liked what happened under Clinton, chances are, its you liked republican legislation.
Irony is not lost on me
"Internet bubble was a SMALL PART of the surplus" bulltshit.
They need to for a dying economy. Not to mention that fact that they wealthy have so many loopholes to avoid being taxed properly bothers me. Get rid of those too. And cut the payment of congressmen to minimum wage. And no free healthcare.
Sorry I should have stated no free healthcare for congressmen, since they believe everyone is an entitled hippie while they sit on the multi-millions they did not earn or work for. I am pro universal healthcare. I am a "all or none" kind of person most of the time.