Boehner:"I Don’t Need To See GDP Numbers Or Listen To Economists"

Obama and the Dems want to raise taxes on any single making over $200K, and any married couple making more than $250K. Those are the magical income levels they have defined as Rich and deserving of the biggest tax increase in history.

Link as letting the Bush Tax Cuts expire being the biggest tax increase in history?
 
Nope, not strawman. You say "tax the rich" as if the rich aren't already being taxed. You're acting as if Obama wants to kill the rich with tax rates. Pre-Bush levels, less than 10 years ago tax rates. Y'know, when the country actually was doing great!

you said 20%....that is a strawman....i never said that

the country was doing well during bush as well....the HOUSING market was unsustainable....i take it you failed to read my thread about the rich spending less and it harming the economy....one of the reasons is because they are unsure if they are going to have to pay more taxes...

raising taxes is going to do nothing but make the federal government bigger, we need the economy and people's bank account larger
The rich continue to spend lavishly, and put the rest in tax free overseas accounts.

not true
 
Doggie really does live in a bubble. This has been in the news for ages.

According to the President's fiscal year (FY) 2010 budget blueprint, wealthy taxpayers will indeed pay a higher tax rate on the income they derive from wages and salaries, taxable interest, business income, capital gains, dividends, and retirement income. The President also proposes to scale back the value of their itemized deductions, such as charitable contributions, state and local taxes, and mortgage interest.

* Reinstate the 36 percent and 39.6 percent rates (up from the current rates of 33 percent and 35 percent) for taxpayers earning more than $250,000 (married) and $200,000 (single);
* Reinstate the personal exemption phase-out and limitation on itemized deductions for those taxpayers earning over $250,000 or $200,000, respectively; and
* Increase the top rate on capital gains and dividends from 15 percent to 20 percent for those taxpayers earning more than $250,000 or $200,000, respectively.[1]


Who Will Pay for President Obama's Tax Increases? | The Heritage Foundation

And there's more!

The health care bill passed by the House of Represenatives on Sunday (Senate bill plus reconciliation) includes, among many other tax increases, two tax hikes on high-income taxpayers set to go into effect in 2013. One of the increases is a higher employee Medicare tax on wages earned above $250,000 (married; $200,000 for singles). The other tax hike is a 3.8 percent Medicare tax on investment income earned by couples earning more than $250,000 in modified adjusted gross income ($200,000 for singles). Investment income includes such sources as rental income, dividend income, interest income, income from trusts, and most capital gains.

In this short Tax Foundation Fiscal Fact, we present eight examples of the tax hikes that various high-income taxpayers would face under the bill.

We should point out two other important facts before delving into the hypothetical examples:

(1) These are not the only tax provisions in the health care bill.

(2) The thresholds cited above ($250,000 for couples and $200,000 for singles) are not indexed for inflation in the bill. Therefore, assuming no other changes were made to the provision, more and more taxpayers will be hit by this provision as we move later into the decade. (And note that it's $200,000 in 2013, which, assuming some reasonable rate of inflation (2% per year), would be equivalent to an income of about $188,000 in 2010.)


The Tax Foundation - Examples of Taxpayers Facing Medicare Tax Increase under Health Care Bill


I've said it before, and it bears repeating here: the class warfare con that the Left is playing is one of pitting lower, middle, and upper middle class people against one another while Big Government and their Cronies grab our tax dollars. A family making $250K in a major metro is middle class. To call them Rich is nonsense.
 
None of those links say letting the Bush tax cuts expire will be the largest tax increase in history however. A 3% and 4.6% increase is nothing compared to prior increases.
 
Well, I certainly don't need a CBO report, or an economist to tell me that the government is SPENDING too much money. The political class are crack whores addicted to spending money they don't have. We need to intervene....that is what is going to happen in November when fiscal conservatives take back our country.

IT"S THE SPENDING, STUPID.
 
why do liberals run around proclaiming bush tax cuts are only about the wealthy?

Among the most significant family-related tax increases, JCT found that:

•The child tax credit will be cut in half, from $1,000 to $500 per child, costing 31 million families an average of $1,033 in higher taxes next year.
•The marriage penalty in the standard deduction and the 15 percent bracket will be reinstated, costing 35 million married couples an average of $595 in higher taxes in 2011.
•The 10 percent bracket will be eliminated, raising the lowest tax rate to 15 percent, costing 88 million taxpayers an average of $503 in higher taxes next year.

Obama, Congress to Let Bush Tax Cuts Expire; Families Face ?Tax Tsunami? | CitizenLink
 
None of those links say letting the Bush tax cuts expire will be the largest tax increase in history however. A 3% and 4.6% increase is nothing compared to prior increases.

Going from 35% to 39.6% is not a 4.6% increase. Going from 33% to 36% is not a 3% increase Did you fail basic arithmetic?

35% of 1000 is 350. 39.6% of 1000 is 396. 396-350=46. An increase of 46 from 350 is 46/350=13%.

33% of 1000 is 330. 36% of 1000 is 360. 360-330=30. An increase of 30 from 330 is 30/330=9%.
 
None of those links say letting the Bush tax cuts expire will be the largest tax increase in history however. A 3% and 4.6% increase is nothing compared to prior increases.


I didn't say it was just letting the Bush Tax Cuts expire. It's that plus the combination of ObamaCare taxes.

Do you ever ready anything that isn't Progressive Pablum? (Rhetorical question.)

Here's a good summary of the tax increases under Obamanomics:

And it's not just the rich who will pay.

The lowest bracket for the personal income tax, for instance, moves up 50% — to 15% from 10%. The next lowest bracket — 25% — will rise to 28%, and the old 28% bracket will be 31%. At the higher end, the 33% bracket is pushed to 36% and the 35% bracket becomes 39.6%.

But the damage doesn't stop there.

The marriage penalty also makes a comeback, and the capital gains tax will jump 33% — to 20% from 15%. The tax on dividends will go all the way from 15% to 39.6% — a 164% increase.

Both the cap-gains and dividend taxes will go up further in 2013 as the health care reform adds a 3.8% Medicare levy for individuals making more than $200,000 a year and joint filers making more than $250,000. Other tax hikes include: halving the child tax credit to $500 from $1,000 and fixing the standard deduction for couples at the same level as it is for single filers.

Letting the Bush cuts expire will cost taxpayers $115 billion next year alone, according to the Congressional Budget Office, and $2.6 trillion through 2020.



The Tax Tsunami On The Horizon - IBD - Investors.com
 
Going from 35% to 39.6% is not a 4.6% increase. Going from 33% to 36% is not a 3% increase Did you fail basic arithmetic?

35% of 1000 is 350. 39.6% of 1000 is 396. 396-350=46. An increase of 46 from 350 is 46/350=13%.

33% of 1000 is 330. 36% of 1000 is 360. 360-330=30. An increase of 30 from 330 is 30/330=9%.

That's what I call a mistake on my part. Clearly wasn't thinking about the math when I posted that. Just posted the number % increase but not the overall increase. As for those increases, still not the largest by far.
 
None of those links say letting the Bush tax cuts expire will be the largest tax increase in history however. A 3% and 4.6% increase is nothing compared to prior increases.


I didn't say it was just letting the Bush Tax Cuts expire. It's that plus the combination of ObamaCare taxes.

Do you ever ready anything that isn't Progressive Pablum? (Rhetorical question.)

Here's a good summary of the tax increases under Obamanomics:

And it's not just the rich who will pay.

The lowest bracket for the personal income tax, for instance, moves up 50% — to 15% from 10%. The next lowest bracket — 25% — will rise to 28%, and the old 28% bracket will be 31%. At the higher end, the 33% bracket is pushed to 36% and the 35% bracket becomes 39.6%.

But the damage doesn't stop there.

The marriage penalty also makes a comeback, and the capital gains tax will jump 33% — to 20% from 15%. The tax on dividends will go all the way from 15% to 39.6% — a 164% increase.

Both the cap-gains and dividend taxes will go up further in 2013 as the health care reform adds a 3.8% Medicare levy for individuals making more than $200,000 a year and joint filers making more than $250,000. Other tax hikes include: halving the child tax credit to $500 from $1,000 and fixing the standard deduction for couples at the same level as it is for single filers.

Letting the Bush cuts expire will cost taxpayers $115 billion next year alone, according to the Congressional Budget Office, and $2.6 trillion through 2020.



The Tax Tsunami On The Horizon - IBD - Investors.com
Do you read anything but wingnut pablum?
 
IBD is not rightwing pablum, but I don't expect a moonbat like you to grok it.
 
I didn't say it was just letting the Bush Tax Cuts expire. It's that plus the combination of ObamaCare taxes.

Do you ever ready anything that isn't Progressive Pablum? (Rhetorical question.)

Here's a good summary of the tax increases under Obamanomics:

And it's not just the rich who will pay.

The lowest bracket for the personal income tax, for instance, moves up 50% — to 15% from 10%. The next lowest bracket — 25% — will rise to 28%, and the old 28% bracket will be 31%. At the higher end, the 33% bracket is pushed to 36% and the 35% bracket becomes 39.6%.

But the damage doesn't stop there.

The marriage penalty also makes a comeback, and the capital gains tax will jump 33% — to 20% from 15%. The tax on dividends will go all the way from 15% to 39.6% — a 164% increase.

Both the cap-gains and dividend taxes will go up further in 2013 as the health care reform adds a 3.8% Medicare levy for individuals making more than $200,000 a year and joint filers making more than $250,000. Other tax hikes include: halving the child tax credit to $500 from $1,000 and fixing the standard deduction for couples at the same level as it is for single filers.

Letting the Bush cuts expire will cost taxpayers $115 billion next year alone, according to the Congressional Budget Office, and $2.6 trillion through 2020.



The Tax Tsunami On The Horizon - IBD - Investors.com

You said:

and deserving of the biggest tax increase in history.

Tax, not taxes.

As for the taxes themselves, the income tax rates are going to pre-Bush levels. You're acting as if this is new ground that Obama is breaking. These are the same taxes that people were paying a little more than ten years ago.
 
And Doggie - $2.6 Trillion does qualify as the largest tax increase in history, which is what the CBO estimates the 10 year impact of letting the Bush Tax Cuts expire to be.

Paying more in Taxes is a Tax Increase. The fact that you feel compelled to play word games right now is an admission that you have lost the argument.
 
Going from 35% to 39.6% is not a 4.6% increase. Going from 33% to 36% is not a 3% increase Did you fail basic arithmetic?

35% of 1000 is 350. 39.6% of 1000 is 396. 396-350=46. An increase of 46 from 350 is 46/350=13%.

33% of 1000 is 330. 36% of 1000 is 360. 360-330=30. An increase of 30 from 330 is 30/330=9%.

That's what I call a mistake on my part. Clearly wasn't thinking about the math when I posted that. Just posted the number % increase but not the overall increase. As for those increases, still not the largest by far.

What was in your opinion?
 
None of those links say letting the Bush tax cuts expire will be the largest tax increase in history however. A 3% and 4.6% increase is nothing compared to prior increases.

Letting the Bush cuts expire will cost taxpayers $115 billion next year alone, according to the Congressional Budget Office, and $2.6 trillion through 2020.[/i]


The Tax Tsunami On The Horizon - IBD - Investors.com

Modbert says the 4% would be $600 B.....not $115 B.....


4% seems like a paltry amount that would make little difference one way or the other in its effect on the deficite and the economy.

Frankly, a 4% rise sounds more like smoke-and-mirrors to appease the poor and ignorant.

4% is about $600 billion or so dollars.

You abacus must be missing a few beads.....:razz:
 
And Doggie - $2.6 Trillion does qualify as the largest tax increase in history, which is what the CBO estimates the 10 year impact of letting the Bush Tax Cuts expire to be.

Paying more in Taxes is a Tax Increase. The fact that you feel compelled to play word games right now is an admission that you have lost the argument.

Wrong. What you're doing is framing the bush tax cuts as being in place since the beginning of this country. They were put in place less than 11 years ago. The tax rate will go up to Pre-Bush levels. The $2.6 trillion you're pulling is from over 10 years, not one.

It's still not the biggest tax increase.

Top US Marginal Income Tax Rates, 1913--2003 (TruthAndPolitics.org)

Go ahead and look, there are plenty of bigger tax increases in our history on that list. This is not nearly the biggest.

Toro posted a story earlier of when Clinton raised the taxes. His boss in that story is sounding exactly like you.
 
And Doggie - $2.6 Trillion does qualify as the largest tax increase in history, which is what the CBO estimates the 10 year impact of letting the Bush Tax Cuts expire to be.

Paying more in Taxes is a Tax Increase. The fact that you feel compelled to play word games right now is an admission that you have lost the argument.


How do you define the word "is?"

:eusa_liar:
 

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