Obama's final nails in the American coffin Jan 1st 2013

Discussion in 'Politics' started by Grampa Murked U, Oct 13, 2012.

  1. Grampa Murked U
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    Grampa Murked U Diamond Member

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    10% tax rate jumps to 15%

    25% tax rate jumps to 28%

    28% tax rate jumps to 31%

    33% tax rate jumps to 36%

    35% tax rate jumps to 39.6%

    55 billion cut from domestic programs

    55 billion cut from defense programs

    Social Security payroll tax goes from 4.2% to 6.2%

    Estate tax top rate jumps from 35% to 55%

    Capital gains top rate jumps from 15% to 20%

    Dividends will be taxed at regular income tax rates

    Child tax credit is cut by 50% to 500.00

    Marriage penalty tax returns

    Alternative minimum tax hits many more

    Extended UE benefits expire

    Medicare payments to Dr's to be cut by 30%



    All kick in at midnight December 31st. This is a disaster in the making. Some economists have speculated that this will kill growth by 1%. Since we're barely growing at 1% now this may very well stall the economy completely and send us spiraling back.
     
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  2. occupied
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    occupied Gold Member

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    Obama's fault? I bet Boehner laughs every single time he hears someone blame his can kicking on the president.
     
  3. edthecynic
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    edthecynic Censored for Cynicism

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    Bullshit!

    That is the GOP plan, Obama's plan is:

    33% tax rate jumps to 36%

    35% tax rate jumps to 39.6%
     
  4. Grampa Murked U
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    Grampa Murked U Diamond Member

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    No more lies about the middle class not getting taxed under Obama.
     
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  5. Grampa Murked U
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    Grampa Murked U Diamond Member

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    Nonsense, the GOP has passed extentions of the Bush tax cuts in the house. The ball gets dropped in the DEMOCRAT CONTROLLED SENATE
     
  6. Katzndogz
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    Katzndogz Diamond Member

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    Economists expect a 5% contraction in the economy once we go off the fiscal cliff. We have an economy that's contracting to begin with and is down to 1.3%. We can't absorb a 5% contraction.
     
  7. Grampa Murked U
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    Grampa Murked U Diamond Member

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    He certainly is part of this situation as is Reid but this disaster is in part on the horizion because this country has no leadership. Nearly 4 years without a budget and no leadership has brought us to the edge.
     
  8. occupied
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    occupied Gold Member

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    All these situations were kicked down the road to make them election issues and it isn't even being talked about by either party, a sure sign that they are going to deal with it quietly in the lame duck session.
     
  9. Grampa Murked U
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    Grampa Murked U Diamond Member

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    It does boggle the mind that these issues haven't been brought up in the debates.
     
  10. occupied
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    occupied Gold Member

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    All of this is a direct result of the republicans debt ceiling stunt, they walked away from the table over tax hikes on the wealthy and here we are with a problem because they are so much in the bag for Norquist and the wealthy that they cannot even make a watered down compromise deal with democrats.
     

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