Obama the Silent Tax Cutter

Discussion in 'Politics' started by Seawytch, Sep 18, 2011.

  1. Seawytch
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    Seawytch Information isnt Advocacy

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    That's right "Taxed Enough Already" party with your silly tea bag hats and occasionally racist signs, you GOT A TAX CUT under President Obama. He's actually cut taxes MORE than Bush! I know this comes as a HUGE shock to Faux "news" watchers, but it's true...

    Obama the Silent Tax Cutter

    [...]Analyst Michael Linden found that if one compares the cost of tax cuts in just the first four years of Bush’s term (2001–04) to the first four years of Obama's (2009–12), Obama’s tax cuts are bigger. The value of the Bush tax cuts were about $475 billion in those first four years, or about 1.1 percent of GDP. Obama’s total about $1 trillion, or 1.6 percent of GDP.

    Obama has cut taxes to lower levels than Bush did, says Linden. This is because, of course, Obama thus far has extended all of the Bush tax cuts and then cut taxes on top of that. His original stimulus bill in 2009 had $290 billion in Making Work Pay tax cuts. His speech Thursday night before Congress advocated for another $175 billion in payroll tax cuts, which come on top of $110 billion from last December’s budget deal. Speeded-up expensing for business adds another $10 billion or so.

    All in all, Obama is responsible for many billions in tax cuts, yet the popular perception is that he has raised taxes.​
     
  2. Skull Pilot
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    Skull Pilot Platinum Member

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    If he cut taxes more than Bush then why aren't you blaming his policies for the fiscal mess we are in?

    After all none of his tax cuts are "paid for" either.
     
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  3. Stephanie
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    Stephanie Diamond Member Supporting Member

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    Last edited: Sep 18, 2011
  4. Seawytch
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    Hate to burst your "aha" bubble, but your factcheck doesn't address the OP at all...
     
  5. Zoom-boing
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    Zoom-boing Gold Member

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    When's he going to cut spending?
     
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  6. Stephanie
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    Stephanie Diamond Member Supporting Member

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    Well let me think? who to believe, a site called the DAILYBEAST or the Washington compost..:lol:
     
  7. Seawytch
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    Seawytch Information isnt Advocacy

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    Can you argue the numbers or can't you? The fact check you linked to had nothing to do with the number in the linked article. Obviously you can't address or debunk them or you would not be playing this silly deflection game.

    We are at the lowest tax rate in 60 years. Obviously, the "Tea Party" miss-named themselves. They were much more apt when named themselves tea baggers.
     
  8. Trajan
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    Trajan conscientia mille testes

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    did you read the article? at all?

    you are aware also that subsidies are counted as tax breaks?

    and-

    Broad tax breaks granted to millions of families at all income levels dwarf the corporate giveaways. Over the past two years, largely because of these popular benefits in the federal income tax code, the government has reached a rare milestone in tax collection: It has given away as much as it takes in.

    The number of tax breaks has nearly doubled since the last major tax overhaul 25 years ago, with lawmakers adding new benefits for children, college tuition, retirement savings and investment. At the same time, some long-standing breaks have exploded in value, such as the deduction for mortgage interest and the tax-free treatment of health-insurance premiums paid by employers.

    All told, federal taxpayers last year received $1.08 trillion in credits, deductions and other perks while paying $1.09 trillion in income taxes, according to government estimates.

    Only about 8 percent of those benefits went to corporations. (The write-off for corporate jets equals about .03 percent of the total.) The bulk went to private households, primarily upper middle-class families that Obama has vowed to protect from new taxes.

    “The big money is in the middle-class subsidies,” said Syracuse University economist Leonard Burman, former director of the nonpartisan Tax Policy Center. “You’re not going to balance the budget by eliminating ethanol credits. You have to go after things that really matter to a lot of people.”


    more at-
    http://bangordailynews.com/2011/09/18/politics/federal-tax-breaks-now-equal-to-tax-revenue/
     
  9. Seawytch
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  10. Seawytch
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    So, time to end ALL subsidies and raise taxes on everyone?
     

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