Obama Announces Huge Tax Increases Are Only Solution

[Samson]

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??

Now I'm confused.

 

[EriktheRed]

The emphasis on shared sacrifice and raising taxes is just code for this administration is not serious about curbing gov't expenditures.

You do realize that you can do both, raise taxes and cut spending, at the same time don't you??

Rush, Hannity, et. al. told them otherwise, so don't bother.

 

[Samson]

Actually, considering the underwater nature of many people's mortgages, controlling them via their property is quite easy.

All mermaids' houses are underwater.

 

[Spoonman]

The emphasis on shared sacrifice and raising taxes is just code for this administration is not serious about curbing gov't expenditures.

You do realize that you can do both, raise taxes and cut spending, at the same time don't you??

Yes, but does congress?

 

[Flopper]

I agree - but to fix that you have to lay taxes on the poor.

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.

 

[B. Kidd]

The emphasis on shared sacrifice and raising taxes is just code for this administration is not serious about curbing gov't expenditures.

You do realize that you can do both, raise taxes and cut spending, at the same time don't you??

Yeah. I also realize that it can be done too little and too late.

 

[boedicca]

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.

They are paying taxes - SS & Medicare of approximately $5K per year, with the employer paying another $5K. This gets lost in the discussion - the taxes on taxes.

 

[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....

Do you think that if people had a low, flat tax rate they would quit donating to charities?


I don't. The ones that provide a valuable service will continue to receive donations. The ones that are tax shelter scams won't.

No I am not a proponent of a flat tax, I believe the legitimate charity's will suffer....

Do we not notice who's donating enormous amounts to hospitals, collages, churches, etc....

As for tax shelter scams, it is the governments fault they even exist....

Our problem is mismanagement and spending period, fix that first, then address the the issues we can tighten up, but to continue to assert that a household income of $250K is where the rich & famous begins is equally ridiculious....

 

[B. Kidd]

Watch how that 4T spending cut will magically turn to 2T in the real world.

 

[Soggy in NOLA]

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.

Check out the big brain on Barry!

What a boob this guy is.

 

[WillowTree]

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.

Today was his first campaign speech for the 2012 run, those terrible people who have succeeded, no mention of his GE buddy....

Obama, the grand manipulator, divide and conquer....

For someone who is supposed to be so smart, you would think he could come up with a new angle....

God help us if he does win re-election.....

you cant divide the already divided. He was never going to get your or the OP's vote anyways.
He doesnt care about your opinion

I've been telling you that since he was elected. He only gives a shit about 50% of the US. The rest of us can go sit in the back of the bus. That's why he's never earned his title.

 

[drsmith1072]

The emphasis on shared sacrifice and raising taxes is just code for this administration is not serious about curbing gov't expenditures.

You do realize that you can do both, raise taxes and cut spending, at the same time don't you??

Yeah. I also realize that it can be done too little and too late.

Uh that has absolutely nothing to do with the accusation that you made about the administration.

You claimed that the emphasis on one shows that the administration is not serious about the other when both can be accomplished at the same time. One does not prevent the other from occuring so how does the former show that they are not serious about the latter.

Then you tried to shift gears and claim that it's too little to late which does nothing to address your accusation.

So did your accusation have any validity to it or were you just out to attack the administration?

 

[Skull Pilot]

Don't you find it funny that Obama starts out with the "We're rugged individualists" shit then at the end basically tells us that government is the only answer to all our woes?

He's so full of shit his skin is brown.

The words of a liar. What you just said basically is that you like to touch pre-pubesant boys.

What speech did you listen to?

You must be basically a fucking idiot sheep if you heard different.

 

[kiwiman127]

Sorry, dude.
But the fact is that 1) most middle class people don't itemize so get no benefit, and 2) there is no reason to subsidize home ownership over any other class of investment.

Personally even if rates went up slightly it would be worth it if the tax code became dead simple. How many hours did it take people to do their taxes this year? How much is that worth to you?

Actually, you're wrong,,again.

Five Most Common Tax Deductions

1. Home Mortgage Interest
2. Charitable Donations
3. Income Taxes Paid
4. Real Estate Taxes Paid
5. Medical & Dental Expenses

Five Most Common Tax Deductions

Geez are you an ignorant piece of shit.
What do you think you are proving with this information?[/QUOTE]

Well, you proved it for me,,,,,,you're absolutely clueless.

 

[confussed]

Political he haw is what it all is we are not broke it's all a lie, we have the resources to pay for what ever we want, Tax the ultra rich at 90% like back in the 50's, Teach our companies and goverment to work together instead of raping the tax payer, stop corperate welfare, stop paying for troops in countries where we fight no wars anymore. Social Security did not casue our deficit, importing oil and exporting our jobs did, cheaper labor more profit for the rich. Blame the congress they did it. Why should the taxpayer suffer.

 

[B. Kidd]

You do realize that you can do both, raise taxes and cut spending, at the same time don't you??

Yeah. I also realize that it can be done too little and too late.

Uh that has absolutely nothing to do with the accusation that you made about the administration.

You claimed that the emphasis on one shows that the administration is not serious about the other when both can be accomplished at the same time. One does not prevent the other from occuring so how does the former show that they are not serious about the latter.

Then you tried to shift gears and claim that it's too little to late which does nothing to address your accusation.

So did your accusation have any validity to it or were you just out to attack the administration?

4T in spending cuts will morph into 2T in spending cuts when they get around to applying them. Too little. Not serious. Raising taxes and doing away with indicated exemptions will not significantly dent the debt and debt interest that has been established and will continue to escalate over the next 12 years. Too late.
Now for a real attack. We are dealing with the most secretive administration since Nixon. Everything they say needs to be taken with a grain of salt.

 

[The Rabbi]

Actually, you're wrong,,again.

Five Most Common Tax Deductions

1. Home Mortgage Interest
2. Charitable Donations
3. Income Taxes Paid
4. Real Estate Taxes Paid
5. Medical & Dental Expenses

Five Most Common Tax Deductions

Geez are you an ignorant piece of shit.
What do you think you are proving with this information?[/QUOTE]

Well, you proved it for me,,,,,,you're absolutely clueless.

IOW you don't know and can't answer the question.
Well that settles it. You are clueless and so are the people who thanked you.

 

[Skull Pilot]

Yeah. I also realize that it can be done too little and too late.

Uh that has absolutely nothing to do with the accusation that you made about the administration.

You claimed that the emphasis on one shows that the administration is not serious about the other when both can be accomplished at the same time. One does not prevent the other from occuring so how does the former show that they are not serious about the latter.

Then you tried to shift gears and claim that it's too little to late which does nothing to address your accusation.

So did your accusation have any validity to it or were you just out to attack the administration?

4T in spending cuts will morph into 2T in spending cuts when they get around to applying them. Too little. Not serious. Raising taxes and doing away with indicated exemptions will not significantly dent the debt and debt interest that has been established and will continue to escalate over the next 12 years. Too late.
Now for a real attack. We are dealing with the most secretive administration since Nixon. Everything they say needs to be taken with a grain of salt.

you mean like this

 

[The Rabbi]

Political he haw is what it all is we are not broke it's all a lie, we have the resources to pay for what ever we want, Tax the ultra rich at 90% like back in the 50's, Teach our companies and goverment to work together instead of raping the tax payer, stop corperate welfare, stop paying for troops in countries where we fight no wars anymore. Social Security did not casue our deficit, importing oil and exporting our jobs did, cheaper labor more profit for the rich. Blame the congress they did it. Why should the taxpayer suffer.

[ame=http://www.youtube.com/watch?v=p3MiD_U4CHQ]YouTube - Joan Baez - Kumbaya (1980)[/ame]

 

[kiwiman127]

Geez are you an ignorant piece of shit.
What do you think you are proving with this information?[/QUOTE]

Well, you proved it for me,,,,,,you're absolutely clueless.

IOW you don't know and can't answer the question.
Well that settles it. You are clueless and so are the people who thanked you.