Obama to Tax Rich for

[elvis]

lewinsky's back

I got chunks of guys like you in my stool.

Phil Hartman's dead, fuckface.

and so is Sinatra.

 

[DiveCon]

No need.

Raise taxes on the rich and cut the military budget.

Bring the troops home and put them on the Mexican border.

do you realize that even if you confiscated all the "wealth" of the rich, you STILL wouldnt be able to pay off this debt?

and thats not just taxes on the income, but literally take all the money they have

Whan, whan, whan, we can't pay off the debt.

The percentage of debt to GDP is no higher than when Truman was president.

We can create wealth in America, if we invest in America and stop spending money in places like Iraq.

you are a fucking MORON
no one gives you 2 shits worth of credibility

 

[Chris]

lewinsky's back

I got chunks of guys like you in my stool.

Phil Hartman's dead, fuckface.

and so is Sinatra.

I give you kudos for getting the reference.

Funny, no Republicans said a word when Reagan and Bush were running up the deficit with wasteful military spending.

I feel much better about spending money investing in America rather than shipping pallets of cash to Irag.

 

[DiveCon]

I got chunks of guys like you in my stool.

Phil Hartman's dead, fuckface.

and so is Sinatra.

I give you kudos for getting the reference.

Funny, no Republicans said a word when Reagan and Bush were running up the deficit with wasteful military spending.

I feel much better about spending money investing in America rather than shipping pallets of cash to Irag.

military spending isnt wasteful, fuckhead
and, there was democrats in control of congress

 

[Chris]

The Department of Defense, already infamous for spending $640 for a toilet seat, once again finds itself under intense scrutiny, only this time because it couldn't account for more than a trillion dollars in financial transactions, not to mention dozens of tanks, missiles and planes.

The Pentagon's unenviable reputation for waste will top the congressional agenda this week, when the House and Senate are expected to begin floor debate on a Bush administration proposal to make sweeping changes in how the Pentagon spends money, manages contracts and treats civilian employees.

The Bush proposal, called the Defense Transformation for the 21st Century Act, arrives at a time when the nonpartisan General Accounting Office has raised the volume of its perennial complaints about the financial woes at Defense, which recently failed its seventh audit in as many years.

Military waste under fire / $1 trillion missing -- Bush plan targets Pentagon accounting

 

[DiveCon]

ah, chris posts more things totally out of context


what a surprise

 

[WillowTree]

A senior administration official says Obama's budget calls for financing the overhaul by trimming Medicare spending and limiting tax deductions for upper-income earners.

so why would he cut health care for some? when he promised health care to all

 

[WillowTree]

closer to 13trillion

and rising

it's hard to imagine America tolerating this for long

well obamalama's 51% will love it cause they are the recipients of the welfare.. you know it's all about taking from the rich,, they are much too stupid to think it will have unintended consequences on future generations..

 

[Care4all]

A senior administration official says Obama's budget calls for financing the overhaul by trimming Medicare spending and limiting tax deductions for upper-income earners.

so why would he cut health care for some? when he promised health care to all

There is A LOT of WASTE in Medicare, huge medicare fraud from hospitals, clinics and doctors scamming the system....I would hope this is the approach they would take....

no?

 

[WillowTree]

A senior administration official says Obama's budget calls for financing the overhaul by trimming Medicare spending and limiting tax deductions for upper-income earners.

so why would he cut health care for some? when he promised health care to all

There is A LOT of WASTE in Medicare, huge medicare fraud from hospitals, clinics and doctors scamming the system....I would hope this is the approach they would take
....

no?

There is A LOT of WASTE in Congress pork bill fraud from Representatives, Senators, and lobbyists scamming the system why isn't he interested in approaching that?????

 

[Red Dawn]

raising taxes on the rich to the level of the prosperous clinton years, to pay for health care for all americans?

Oh, the horror!

 

[WillowTree]

will this be before or after we pay for his new helicopter that costs more than Air Force One????

 

[editec]

how long do you think it'll be before everybody's paying higher taxes?

friday......

i thought the Bush tax cuts were gonna last until 2011?

Bush's tax cuts for billionaires are going to automatically end soon.

Their purpose, we were told, was to jump start the economy.

Well...they defintiely jump started the Billionaires eeconomies.

And the bubbles that followed burst.

As they always do when the rich have too much of the nation's money overall.

 

[DiamondDave]

raising taxes on the rich to the level of the prosperous clinton years, to pay for health care for all americans?

Oh, the horror!

I don't care if we raise of lower them

AS LONG AS

1) Everyone pays the same percentage burden
2) We eliminate loopholes
3) We cut pork and unnecessary government spending (no more research into pig stink, go-kart parks, etc on the taxpayer dime).. make a law that it is illegal unless the governmental budget is in the black
4) Have efforts to eliminate or SEVERELY LIMIT any earmarks on bills (if you can't eliminate, limiting them to a limit of 1/100th of 1% of the spending proposed in the basis of the bill)
5) We start eliminating all government welfare handouts to corporations AND individuals
6) We eliminate invisible back door spending (grabbing from the SS fund and other intra governmental 'magic spending')

That's a good start

But if you want healthcare for your non-public-domain body... pay for it your fucking self

 

[Old Rocks]

My company pays over $1200 a month for my health insurance. I pay an additional $160. So if we had universal health care, and I was taxed $1360 a month for my part, and the company paid me the differance, there would be no differance in my pay check. Given that we pay double for our health care per capita than most other industrial nations, then I would also be paying for two other people. Looks good to me.

 

[Toro]

Here's the thing - throughout US economic history, growth has been fairly constant regardless of the rate of tax. And you would expect it to be. Does anyone really believe that the wealthiest people in the world are going to stop working if their highest rate of marginal tax rises from 35% to 40%? Do you really believe that Bill Gates or Steve Jobs or Warren Buffett is going to say, "Well, I made $100 million last year, but with the tax rates up 5%, I'm only going to make $95 million this year, so I'm not going to work hard?"

I find this argument grossly underestimates the industriousness and ingenuity of the American people. America is not the wealthiest country on the planet because its marginal tax take is 6.5% less than the OECD average. It became the richest country on the planet because of the characteristics of the American people.

Yes, taxes can be too high. Yes, lower taxes are better. But some of the things people say are just silly.

BTW, one of the proposals in the budget is that what is known as carried interest of private equity and hedge funds will be taxed at the normal marginal rate of income. Carried interest is the fees these funds charge as a percentage of profits. For some reason I do not understand, carried interest has been deemed "capital gains" - even though it is not the fund manager's capital that is at risk - and thus taxed at the rate of capital gains, or 15%. Since the vast majority of a fund manager's earnings comes from carried interest, that means the marginal rate of tax for the fund manager is around 15%. In other words, you are taxed at a higher rate if you made $50,000 than a private equity or hedge fund manager who made $500,000,000.

Is anyone here willing to defend this as some unjust tax on rich people?

 

[Care4all]

For example, if a couple had $10,000 of legal itemized deductions, the tax change would limit the deductible amount to $2,800. Under current law couples earning $250,000 or more can deduct up to 35 percent of their legal deductions. Using the $10,000 figure again, couples can currently deduct $3,500 from their taxes.


Lesseeee the difference in 2800 and 3500 is 700. 700 x 10 is 7000. now in order for this to bring in the projected 634 B means there are one helluva lot of rich people to make 634 billion dollars in ten years...holy shit

why are you multiplying 700 by 10???

cuts in medicare pays for some as well?*

Willow, what was the $700 X 10 in your figure, for?

 

[Care4all]

Here's the thing - throughout US economic history, growth has been fairly constant regardless of the rate of tax. And you would expect it to be. Does anyone really believe that the wealthiest people in the world are going to stop working if their highest rate of marginal tax rises from 35% to 40%? Do you really believe that Bill Gates or Steve Jobs or Warren Buffett is going to say, "Well, I made $100 million last year, but with the tax rates up 5%, I'm only going to make $95 million this year, so I'm not going to work hard?"

I find this argument grossly underestimates the industriousness and ingenuity of the American people. America is not the wealthiest country on the planet because its marginal tax take is 6.5% less than the OECD average. It became the richest country on the planet because of the characteristics of the American people.

Yes, taxes can be too high. Yes, lower taxes are better. But some of the things people say are just silly.

BTW, one of the proposals in the budget is that what is known as carried interest of private equity and hedge funds will be taxed at the normal marginal rate of income. Carried interest is the fees these funds charge as a percentage of profits. For some reason I do not understand, carried interest has been deemed "capital gains" - even though it is not the fund manager's capital that is at risk - and thus taxed at the rate of capital gains, or 15%. Since the vast majority of a fund manager's earnings comes from carried interest, that means the marginal rate of tax for the fund manager is around 15%. In other words, you are taxed at a higher rate if you made $50,000 than a private equity or hedge fund manager who made $500,000,000.

Is anyone here willing to defend this as some unjust tax on rich people?

NOT ME, this is reform on hedge fund managers that is needed....imo

 

[auditor0007]

No need.

Raise taxes on the rich and cut the military budget.

Bring the troops home and put them on the Mexican border.

do you realize that even if you confiscated all the "wealth" of the rich, you STILL wouldnt be able to pay off this debt?

and thats not just taxes on the income, but literally take all the money they have

Whan, whan, whan, we can't pay off the debt.

The percentage of debt to GDP is no higher than when Truman was president.

We can create wealth in America, if we invest in America and stop spending money in places like Iraq.

We created a great deal of our wealth since then by putting women to work. What new group of people will we put to work now to create all the new wealth that will be necessary to cover our debts?

 

[elvis]

friday......

i thought the Bush tax cuts were gonna last until 2011?

Bush's tax cuts for billionaires are going to automatically end soon.

Their purpose, we were told, was to jump start the economy.

Well...they defintiely jump started the Billionaires eeconomies.

And the bubbles that followed burst.

As they always do when the rich have too much of the nation's money overall.

funny how I'm not a billionaire and the tax cuts saved me $2700 last year. you dumb fuck.