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Obamas first term has been heavy on tax cuts, especially those like the stimulus tax breaks, insurance tax credits, and payroll tax cut targeted at lower and middle-income people. Of the almost $2 trillion in tax cuts passed during his tenure, only the $570 billion that went toward extending the Bush tax cuts and the AMT patch primarily benefited upper and upper-middle income families.
He looks set to continue those lower-income breaks going forward, but with a new emphasis on both phasing out upper-income cuts (like the Bush cuts for those making over $250,000 a year) and imposing new taxes on high-income people, through measures like the itemized deduction cap, the closure of the carried interest loophole, and the Buffett rule. Whats more, the new taxes in the Affordable Care Act set to take effect in 2014, such as the excise tax on expensive plans and the Medicare payroll tax surcharge, primarily target high-income people, while the laws tax cuts primarily target low-income people. So even if Congress takes no new action, the phase out of the Bush cuts and the implementation of the ACA look to set back rich taxpayers considerably.
The wealthy fuel this economy with their investments Boop.
The wealthy fuel this economy with their investments Boop.
They do? Then we should be fully recovered, right?
The wealthy fuel this economy with their investments Boop.
They do? Then we should be fully recovered, right?
Last time you borrowed money for a car or house did the fry cook at your local McDonalds fund it?
Everything Obama has done and wants to do on taxes in one post
Obamas first term has been heavy on tax cuts, especially those like the stimulus tax breaks, insurance tax credits, and payroll tax cut targeted at lower and middle-income people. Of the almost $2 trillion in tax cuts passed during his tenure, only the $570 billion that went toward extending the Bush tax cuts and the AMT patch primarily benefited upper and upper-middle income families.
He looks set to continue those lower-income breaks going forward, but with a new emphasis on both phasing out upper-income cuts (like the Bush cuts for those making over $250,000 a year) and imposing new taxes on high-income people, through measures like the itemized deduction cap, the closure of the carried interest loophole, and the Buffett rule. Whats more, the new taxes in the Affordable Care Act set to take effect in 2014, such as the excise tax on expensive plans and the Medicare payroll tax surcharge, primarily target high-income people, while the laws tax cuts primarily target low-income people. So even if Congress takes no new action, the phase out of the Bush cuts and the implementation of the ACA look to set back rich taxpayers considerably.
Yes, I do feel really-really bad for the wealthy, but face it; they're not putting anything into the economy.
Everything Obama has done and wants to do on taxes in one post
Obamas first term has been heavy on tax cuts, especially those like the stimulus tax breaks, insurance tax credits, and payroll tax cut targeted at lower and middle-income people. Of the almost $2 trillion in tax cuts passed during his tenure, only the $570 billion that went toward extending the Bush tax cuts and the AMT patch primarily benefited upper and upper-middle income families.
He looks set to continue those lower-income breaks going forward, but with a new emphasis on both phasing out upper-income cuts (like the Bush cuts for those making over $250,000 a year) and imposing new taxes on high-income people, through measures like the itemized deduction cap, the closure of the carried interest loophole, and the Buffett rule. Whats more, the new taxes in the Affordable Care Act set to take effect in 2014, such as the excise tax on expensive plans and the Medicare payroll tax surcharge, primarily target high-income people, while the laws tax cuts primarily target low-income people. So even if Congress takes no new action, the phase out of the Bush cuts and the implementation of the ACA look to set back rich taxpayers considerably.
Yes, I do feel really-really bad for the wealthy, but face it; they're not putting anything into the economy.
Everything Obama has done and wants to do on taxes in one post
Obamas first term has been heavy on tax cuts, especially those like the stimulus tax breaks, insurance tax credits, and payroll tax cut targeted at lower and middle-income people. Of the almost $2 trillion in tax cuts passed during his tenure, only the $570 billion that went toward extending the Bush tax cuts and the AMT patch primarily benefited upper and upper-middle income families.
He looks set to continue those lower-income breaks going forward, but with a new emphasis on both phasing out upper-income cuts (like the Bush cuts for those making over $250,000 a year) and imposing new taxes on high-income people, through measures like the itemized deduction cap, the closure of the carried interest loophole, and the Buffett rule. Whats more, the new taxes in the Affordable Care Act set to take effect in 2014, such as the excise tax on expensive plans and the Medicare payroll tax surcharge, primarily target high-income people, while the laws tax cuts primarily target low-income people. So even if Congress takes no new action, the phase out of the Bush cuts and the implementation of the ACA look to set back rich taxpayers considerably.
Yes, I do feel really-really bad for the wealthy, but face it; they're not putting anything into the economy.
Does class warfare make you feel better about yourself? Is it a real self-esteem booster? Perhaps you would do well to go do a little research and see where the current taxes are being collected before you assume that the wealthy are not putting anything into the economy. How long before you kill the golden goose?
Do you know how many people have been turned down for loans?
I've never owned a home.
Do you know how many people have been turned down for loans?
I've never owned a home.
Do you know how many people have been turned down for loans?
I've never owned a home.
No I don't. But bad choices have consequences.
Everything Obama has done — and wants to do — on taxes in one post
Obama’s first term has been heavy on tax cuts, especially those — like the stimulus tax breaks, insurance tax credits, and payroll tax cut — targeted at lower and middle-income people. Of the almost $2 trillion in tax cuts passed during his tenure, only the $570 billion that went toward extending the Bush tax cuts and the AMT patch primarily benefited upper and upper-middle income families.
He looks set to continue those lower-income breaks going forward, but with a new emphasis on both phasing out upper-income cuts (like the Bush cuts for those making over $250,000 a year) and imposing new taxes on high-income people, through measures like the itemized deduction cap, the closure of the carried interest loophole, and the Buffett rule. What’s more, the new taxes in the Affordable Care Act set to take effect in 2014, such as the excise tax on expensive plans and the Medicare payroll tax surcharge, primarily target high-income people, while the law’s tax cuts primarily target low-income people. So even if Congress takes no new action, the phase out of the Bush cuts and the implementation of the ACA look to set back rich taxpayers considerably.
Yes, I do feel really-really bad for the wealthy, but face it; they're not putting anything into the economy.
Do you know how many people have been turned down for loans?
I've never owned a home.
Do you know how many people have been turned down for loans?
I've never owned a home.
