Obama Announces Huge Tax Increases Are Only Solution

[8537]

I'm all for dropping the mortgage deduction, and charitable deductions as well. But lower the over-all tax rate after that.

Holy shit batman - I agree with Rabbi

Then you have just a little further to step in going to an equal % flat tax for all, no matter the income level.. simplify and equalize... I know you can see it, just will you take the step??

Let's put it this way: If you agree to -

1. Expose all income to this tax, no exceptions.
2. Exempt the first (insert number here, perhaps based on the estimated poverty level or 1.5x it, something in that range)
3. End every single other tax break.
4. Include corporate income in the calculation....

Then I might not love it, but I'd absolutely take it over the f'in mess we have today.

 

[Spoonman]

Yes, he is trying to get his leftist base back, mudwhistle. He also wants a nanny state which is big government. He knows none of this is going to fly.. It's all for RE-election.

Obama thought he had the left solidly in his pocket. I think he was shocked at how easily he lost them when he buckled to try to court back the swing vote he os easily lost to. Obama tried to present himself as everything to everybody. When it came to execution he is proving to be very little for very few.

 

[NYcarbineer]

The Middle Class are primary beneficiaries of the Bush Tax Cuts.

Look at what Obama said. He's getting rid of mortgage interest deductions on a home.

Who will be the most effected by this?

He's getting rid of charitable deductions.

Who will be the most effected by this?

Answer: The Middle Class

Already they admit it will be $200k for single filing separately. Pretty soon you'll discover that you fall in the category that gets the shaft. I already do. Heritage says that the tax increases Obama has proposed will only raise $1.8 trillion more over 10 years. This will barely pay for next year's deficit, so pretty soon he'll be proposing lowering the increase to another level, perhaps $100k or lower.

The Heritage Foundation is even admitting the tax increases WILL raise revenues.

lol, that's heresy on the Right, isn't it?

Most of the truly wealthy have already admitted that taxes will need to be raised. The tax cuts went too far. The issue is to use tax increases in combination with real cuts in spending, and not to just continue increasing spending. At the same time, we know Medicare is going to have to change, no matter what Obama wants. With the aging population and continually rising healthcare costs, it is growing out of control. Raising the age at which Medicare benefits can be received is the only way to curb and control costs while leaving the program intact.

If Republicans really want to get something done, they better get off of this idea that there will be no tax increases, because only using cuts to balance the budtget will end up causing even bigger problems in the long run.

The GOP vision of Medicare reform is that of your 85 year old invalid grandmother fighting with a for-profit insurance company day after day trying to get her bills paid.

 

[Spoonman]

The Heritage Foundation is even admitting the tax increases WILL raise revenues.

lol, that's heresy on the Right, isn't it?

Most of the truly wealthy have already admitted that taxes will need to be raised. The tax cuts went too far. The issue is to use tax increases in combination with real cuts in spending, and not to just continue increasing spending. At the same time, we know Medicare is going to have to change, no matter what Obama wants. With the aging population and continually rising healthcare costs, it is growing out of control. Raising the age at which Medicare benefits can be received is the only way to curb and control costs while leaving the program intact.

If Republicans really want to get something done, they better get off of this idea that there will be no tax increases, because only using cuts to balance the budtget will end up causing even bigger problems in the long run.

The GOP vision of Medicare reform is that of your 85 year old invalid grandmother fighting with a for-profit insurance company day after day trying to get her bills paid.

Eh, it's still better than Obama's death panels

 

[GWV5903]

I'm all for dropping the mortgage deduction, and charitable deductions as well. But lower the over-all tax rate after that.

The mortgage deduction is 3/4 of my itemized deduction.

But a cut in your marginal rate would partially or wholly offset the loss of that deduction (And I presume some form of the standard deduction would remain anyway)

Then what's the difference??? Serves no purpose, thats the problem we have today, smoke and mirrors, no real solutions....

 

[xsited1]

Once again Obama has shown his plan all along. Raise taxes.

He wants to remove home interest payments as a deduction.

Trust me, this will include everyone, not just those who make over $200k.

Also, he says he wants to remove charitable contributions as well.

Folks, this isn't all he plans to do. He's just telling us the part he thinks we want to hear.

I guess you can drop all the rhetoric over how he's cut taxes now. It was all smoke and mirrors anyway.

I can't listen to the guy any more. He is so clueless, the BS emanating from his mouth makes my ears bleed.

 

[Spoonman]

Once again Obama has shown his plan all along. Raise taxes.

He wants to remove home interest payments as a deduction.

Trust me, this will include everyone, not just those who make over $200k.

Also, he says he wants to remove charitable contributions as well.

Folks, this isn't all he plans to do. He's just telling us the part he thinks we want to hear.

I guess you can drop all the rhetoric over how he's cut taxes now. It was all smoke and mirrors anyway.

I can't listen to the guy any more. He is so clueless, the BS emanating from his mouth makes my ears bleed.

I reached that point with him when he spoke at the democratic convention 7 years ago when he was only a jr senator

 

[GWV5903]

Most people don't itemize and therefore don't get the benefit. But people still buy houses anyway.
People will also contribute money anyway to causes they believe in. And if rates are lowered they will have more money in their own pockets to do just that.

Rabbi, we have 63% homeownership in this country, why do you believe they do not itemize???

The small donations are important, but the larger ones carry the load....

I am all for reforming the Tax Code and lower taxes for all, but why are we going to try and label mortgage deductions & charitable contributions as a solution, when both are very good for our overall economy? We have a spending problem, not a revenue problem...

To ridicule and continue the same old BS rhetoric is nothing more than the same old crap we have endured way too long....

Firsty off, what would persuade you that a large number of middle class homeowners do not itemize?
Second, if we are to get any simplification in the tax code we have to start somewhere. Artificially inflating the value of homes is absurd. People think they are getting one over on the gov't. In fact we all get screwed by this deduction. It creates gross inefficiencies, especially at the top end. Houses are poor investments.

Concrete facts will usually do the trick....

Oh I agree we need to simplify the code, but it's assbackwards to remove positives for all involved....

Yes artificially inflating anything is absurd, investing in your own home is an asset....

Enormous wealth has been built out of real estate time and time again, explain how that principle does not apply to the middle class....

 

[Two Thumbs]

I'd have to say the best was when he listed one of his core needs was broadband.

Seriously

When did Broadband become a need?

 

[hortysir]

How many broken campaign promises is this now????

 

[Spoonman]

How many broken campaign promises is this now????

it's easier to count the ones that haven't been broken. why i can count them on one had. and i'm an amputee

 

[GWV5903]

The Iraq war was based on lies?

HUH????

And the Democrats that bought into it...


[ame=http://www.youtube.com/watch?v=RhZ2ZvS2t_E]YouTube - Democrats confirm Saddam Hussein has WMD.flv[/ame]

The Epitome of Hypocrisy, best rebuttal of all time, STFU and get your ass out of town....

 

[M14 Shooter]

Bullshit! I pay enough freaking taxes. The government is so f'd up nobody is ever going to fix it. I already am doing more with less. The government and the people with hand outs to the government should do the SAME! It is disgusting.

I'm going to go out on a limb and guess you don't earn over $250,000 a year, so I'd calm down if I were you.

But feel free to tell me why the middle class should continue to fund the Bush tax cuts.

First, show that they do.

I'll be especially interested in you showing that the tax cuts are ever 'funded' at all - the rest will be sauce for the goose.

 

[Spoonman]

The Iraq war was based on lies?

HUH????

And the Democrats that bought into it...


[ame=http://www.youtube.com/watch?v=RhZ2ZvS2t_E]YouTube - Democrats confirm Saddam Hussein has WMD.flv[/ame]

The Epitome of Hypocrisy, best rebuttal of all time, STFU and get your ass out of town....

it's funny how everytime clinton wanted to bomb them it was over WMD's. Bush gets into office and they mysteriously vanish from liberal minds

 

[M14 Shooter]

Not necessarily. There are lots of families with gross incomes of $60,000 -$80,000, that have no income tax liability due to all the deductions and credits. I think the percentage that these folks pay should be fairly low, but not zero.

Show this to be true, and show how close to "half" the country this really is.

Our view on financing government: When 47% don't pay income tax, it's not healthy for USA

Our view on financing government: When 47% don't pay income tax, it's not healthy for USA - USATODAY.com

Take a $70,000 gross income with 4 kids, deduct a reasonable retirement contribution, HSA, personnel exemptions, mortgage, medical deductions, property taxes, charity, child care deduction, child care credit, sales tax and misc. deductions. You can easily get a zero tax liability. I know. I did the taxes for two of my kids that had this range of income.

I think you better look more closely at your source - it doesnt support your statement or answer my challenge.

 

[Rozman]

All the rabble who AREN'T going to get taxed are the ones making the most noise.

CLASSIC!!


lol

Anyone who is for government taking more in taxes from anyone,anyone is someone who loves to hang around in the back round and act all tough and wants to be the one to make the decisions and is hot stuff.Just as long as it is somebody else doing the dirty work.

Libs love to yell and scream that we need to spend to get the economy moving.....they have all the answers...just as long as it's someone else picking up the check.Typical deadbeats.

 

[hortysir]

Bullshit! I pay enough freaking taxes. The government is so f'd up nobody is ever going to fix it. I already am doing more with less. The government and the people with hand outs to the government should do the SAME! It is disgusting.

I'm going to go out on a limb and guess you don't earn over $250,000 a year, so I'd calm down if I were you.

But feel free to tell me why the middle class should continue to fund the Bush tax cuts.

First, show that they do.

I'll be especially interested in you showing that the tax cuts are ever 'funded' at all - the rest will be sauce for the goose.

Nevermind the FACT that not raising taxes isn't a tax "cut"

 

[Charles_Main]

The Heritage Foundation is even admitting the tax increases WILL raise revenues.

lol, that's heresy on the Right, isn't it?

Most of the truly wealthy have already admitted that taxes will need to be raised. The tax cuts went too far. The issue is to use tax increases in combination with real cuts in spending, and not to just continue increasing spending. At the same time, we know Medicare is going to have to change, no matter what Obama wants. With the aging population and continually rising healthcare costs, it is growing out of control. Raising the age at which Medicare benefits can be received is the only way to curb and control costs while leaving the program intact.

If Republicans really want to get something done, they better get off of this idea that there will be no tax increases, because only using cuts to balance the budtget will end up causing even bigger problems in the long run.

The GOP vision of Medicare reform is that of your 85 year old invalid grandmother fighting with a for-profit insurance company day after day trying to get her bills paid.

So what you are saying is you wish every single Old person in this country was Dependent on medicare? You do realize their are many Older people who still carry their own insurance right? Because it's Better than Medicare You can go to more doctors, get more drugs covered.

You just exposed you leftist tenancy. You Think all old people, Despite their means, should be stuck on Medicare. Lest they have to "fight day after day with a big bad evil for profit insurance company"

lol

 

[Christopher]

How many broken campaign promises is this now????

Quite a few. PolitiFact | The Obameter: Campaign Promises that are Promise Broken

 

[8537]

Most of the truly wealthy have already admitted that taxes will need to be raised. The tax cuts went too far. The issue is to use tax increases in combination with real cuts in spending, and not to just continue increasing spending. At the same time, we know Medicare is going to have to change, no matter what Obama wants. With the aging population and continually rising healthcare costs, it is growing out of control. Raising the age at which Medicare benefits can be received is the only way to curb and control costs while leaving the program intact.

If Republicans really want to get something done, they better get off of this idea that there will be no tax increases, because only using cuts to balance the budtget will end up causing even bigger problems in the long run.

The GOP vision of Medicare reform is that of your 85 year old invalid grandmother fighting with a for-profit insurance company day after day trying to get her bills paid.

So what you are saying is you wish every single Old person in this country was Dependent on medicare? You do realize their are many Older people who still carry their own insurance right? Because it's Better than Medicare You can go to more doctors, get more drugs covered.

You just exposed you leftist tenancy. You Think all old people, Despite their means, should be stuck on Medicare. Lest they have to "fight day after day with a big bad evil for profit insurance company"

lol

ALL "Old people" are on medicare A and B. Some chose to buy a supplemental plan, but those simply cove Medicare gaps. Medicare was create for a reason - because no one would insure the 65+ crowd.