Obama's New Tax Hikes Aid the Middle Class?

[Freemason9]

Pubs are dedicated to lower taxes for all taxpayers.

There's room for bipartisan agreement.

Republicans are NOT "dedicated to lower taxes for all taxpayers." When they lower taxes for upper-income brackets and for that "special" capital gains income category, one of two things happen: (1) the taxes shift to others (often by shifting funding to states through state and local taxes), or (2) it artificially drives up the deficit, thereby increasing future liabilities among taxpayers.

There's a reason why wealth has concentrated since Reagan brought on the onslaught of wealth patronization in the 80's.

LOL, how stupid. So if Republicans lower taxes on all, it shifts the burden to the states to tax more so Republicans don't really want to lower taxes?
RETARD!

Finally, you seem to get it. That is correct; there are no "tax cuts." Republicans have been shifting taxes to the lower and middle income brackets since Reagan in 1980.

 

[2aguy]

Each one of these "benefits" is an attack on the middle class.....one guy on the radio called it Tyranny cloaked in virtue.....but look at the result of each tax hike...the people who get hit...the middle income earners.......

But....lefties can't hear anything past "Tax the Rich" once you say that, there is no explaining to them what the truth is......their saliva just pools on the floor....

 

[2aguy]

A finite amount of income?
So how can you raise the minimum wage?

By decreasing shareholder value

= redistribution

= redistribution

= stealing

 

[JakeStarkey]

A finite amount of income?
So how can you raise the minimum wage?

By decreasing shareholder value

= redistribution

Increasing shareholder value = redistribution

Your argument, hortysir, has no value.

 

[BlackSand]

The fortunate 400

400 tax returns reporting the highest incomes in 2009.

Six American families paid no federal income taxes in 2009 while making something on the order of $200 million each.

another 110 families paid 15 percent or less in federal income taxes.
The fortunate 400 David Cay Johnston Reuters

The 400 richest Americans used to pay 30% of their income on the average to Uncle Sam(but 55% in 1955).

Overall, the top 400 paid an average income tax rate of 19.9 percent, the same rate paid by a single worker who made $110,000 in 2009. The top 400 earned five times that much every day.

Just 82 of the top 400 were taxed in accord with the Buffett rule, which proposes a minimum tax of 30 percent on annual incomes greater than $1 million


A 2011 study by the CBO found that the top earning 1 percent of households gained about 275% after federal taxes and income transfers over a period between 1979 and 2007


Trends in the Distribution of Household Income Between 1979 and 2007 Congressional Budget Office


275 percent for the top 1 percent of households,
65 percent for the next 19 percent,
Just under 40 percent for the next 60 percent, and
18 percent for the bottom 20 percent.

Of course they don't pay federal income tax you dimwit ... They don't have a job that pays them income to tax.
They pay capital gains tax the same as anyone else does.
Sorry if you are one of those silly people that doesn't know how the rich keep getting richer ... and are envious, jealous and immature about your inability to do the same.

.

 

[georgephillip]

We don't operate on a zero sum game. The pie grows and can continue to grow. Your response is nothing more than a desire to blame someone.

Aggregate income is a zero sum game.
In 1970 the richest 1% garnered about 7% of total US income.
In 2010 they increased their share to about 19%.
That one big reason why 47% of US workers don't earn enough to pay income taxes today.
Richest 1 earn biggest share since Roaring 20s

 

[georgephillip]

= redistribution

Redistribution of income will happen in one direction or the other whenever government actions benefit one economic class at the expense of another. NAFTA, for example, helped investors increase their share of income at the expense of millions of middle class jobs that were SUCKED OFF by China. What makes you think the investor class is worthy of tax and trade policies that destroy the lives of a much larger number of productive workers?

 

[georgephillip]

They pay capital gains tax the same as anyone else does.
Sorry if you are one of those silly people that doesn't know how the rich keep getting richer ... and are envious, jealous and immature about your inability to do the same

Now tell us how much it costs the greedy rich to bribe politicians for tax laws that allow them to pay taxes at a 15% capital gains rate instead on the 39% rate charged on "income?"

 

[Iceweasel]

RETARD

Finally, you seem to get it.

Thanks.

 

[georgephillip]

So a family of four paying 0% pays more?

So taking from a financially successful person and handing it to one that isn't is fair? Guess we know which side of the financial success ladder you're on.

A family of four earning less than $47,000 a year pays a greater percentage of their annual income in all taxes than someone earning 470,000 dollars a year or 47 million dollars per year. My economic circumstances don't affect the validity of my arguments, but feel free to resort to ad hominem fallacies if that's the best you can manage.

 

[hortysir]

So a family of four paying 0% pays more?

So taking from a financially successful person and handing it to one that isn't is fair? Guess we know which side of the financial success ladder you're on.

A family of four earning less than $47,000 a year pays a greater percentage of their annual income in all taxes than someone earning 470,000 dollars a year or 47 million dollars per year. My economic circumstances don't affect the validity of my arguments, but feel free to resort to ad hominem fallacies if that's the best you can manage.

Not when they get back all they paid, plus more. Especially here in Florida where there's no state income tax and our sales tax is 7%

 

[TooTall]

1) If I'm going to be punished for my success in investing, why would I want to invest again? Who is Obama to put his hands in my pocket?

Because you didn't acquire your success without relying on Government to create the infrastructure you sponged off of. If you're an investor which institution did the most to spike the Dow's 126% rise during Obama's Administration?

I think that institution would be the Federal Reserve.

 

[Iceweasel]

Iceweasel has been for the redistribution of wealth the last 35 years from the middle class to the uber wealthy.

I'm for redistributing knowledge and you don't have the tools to grasp it.

 

[TooTall]

Sponged off of? You moron. The government sponges off of us and hopefully gets some of the shit done we pay them for and we're sponging off of them?

Perhaps we should define what we mean by "investors?" In today's Finance Capitalism investment has a different meaning from what it once had. If investors are simply gambling with other people's money and jobs and creating nothing of value for society, they are sponges.

I'm no expert on it, all I know is that my ROTH IRA is steadily moving up. Explain how that is hurting America.

Most IRA's are managed by various investment firms that pick what stocks and bonds are meeting their goals and trade them accordingly to maximize the earnings of the investor account. Raising the capital gains tax rate will add to the cost of trading and my guess is that cost lowers the earnings the individual gets from his/her IRA.
Please correct me if I am wrong.

 

[Iceweasel]

Sponged off of? You moron. The government sponges off of us and hopefully gets some of the shit done we pay them for and we're sponging off of them?

Perhaps we should define what we mean by "investors?" In today's Finance Capitalism investment has a different meaning from what it once had. If investors are simply gambling with other people's money and jobs and creating nothing of value for society, they are sponges.

I'm no expert on it, all I know is that my ROTH IRA is steadily moving up. Explain how that is hurting America.

Most IRA's are managed by various investment firms that pick what stocks and bonds are meeting their goals and trade them accordingly to maximize the earnings of the investor account. Raising the capital gains tax rate will add to the cost of trading and my guess is that cost lowers the earnings the individual gets from his/her IRA.
Please correct me if I am wrong.

I don't know, it would be really bad for a lot of people and it won't hurt the top percenters. I wouldn't put it past these stupid fucks, they're like a kid with a gun.

 

[JakeStarkey]

Iceweasel has been for the redistribution of wealth the last 35 years from the middle class to the uber wealthy.

I'm for redistributing knowledge and you don't have the tools to grasp it.

Non sequitur. When you want to talk honestly, let us know.

 

[Menerva Lindsen]

It appears that Obama's upcoming State of the Union will propose tax hikes on wealth investors to expand tax credits for higher education and child care for the US middle class.

"President Barack Obama is proposing new taxes on the wealthiest Americans that would limit their profits from investments and make it harder for them to pass assets to heirs.

"Obama, who will promote the plan during his Jan. 20 State of the Union Address, will use much of the proceeds -- $320 billion over 10 years -- to expand tax credits for higher education and child care and create a new break for two-earner couples.

"The White House released details of the plan Saturday.

“'What you’re seeing here is really dedicated middle-class tax relief to really get at that problem of middle-class wage stagnation,' said Harry Stein, director of fiscal policy at the Center for American Progress, a Washington group aligned with Democrats."

"Obama’s tax plan faces opposition in the Republican-controlled Congress, where lawmakers want to cut tax rates and curtail targeted breaks. The two parties agree more on business tax changes, though an accord on that isn’t close."

Obama Proposes New Tax Hikes on Wealthy to Aid Middle Class - Bloomberg

The American Middle class is a myth. Minimum Wage isn't going to do anything except a) feed inflation and b) close off job opportunities until inflation catches up. We've been there before; it ain't pretty; and in a society with a huge debt over it's collective head, floor-sweepers don't get rich. 1% of the richest people becomes even welthier.

Government doesn't create wealth. Unions don't create jobs. And false populist politicians DO create misery.

 

[JakeStarkey]

ML just created a myth.

 

[BlackSand]

They pay capital gains tax the same as anyone else does.
Sorry if you are one of those silly people that doesn't know how the rich keep getting richer ... and are envious, jealous and immature about your inability to do the same

Now tell us how much it costs the greedy rich to bribe politicians for tax laws that allow them to pay taxes at a 15% capital gains rate instead on the 39% rate charged on "income?"

The 39% tax bracket does not include the middle class or the working poor as far as federal income tax is concerned pea-brain.
And ... If you have a problem with the working wealthy paying 39% in federal income tax ... Then don't blame the rich, blame the stupid politicians that set their tax rates that high.

Tax ... Tax ... Tax some more.
How about you take some budget lessons from the people who have more than debt to show for their efforts ... Stupid Liberals.




Then ask President Obama how eliminating the 529's to pay for his Community College initiative is going to help the middle class ... they are the ones who benefit from the 529 tax breaks ... How about we cut tuition cost ... By cutting the faculty costs at colleges?

.

 

[Conservative65]

So a family of four paying 0% pays more?

So taking from a financially successful person and handing it to one that isn't is fair? Guess we know which side of the financial success ladder you're on.

A family of four earning less than $47,000 a year pays a greater percentage of their annual income in all taxes than someone earning 470,000 dollars a year or 47 million dollars per year. My economic circumstances don't affect the validity of my arguments, but feel free to resort to ad hominem fallacies if that's the best you can manage.

Bullshit. While I can prove my claim, you prove yours you old bastard.

Your economic circumstances certainly do affect the validity of your arguments. You fit int he category of those not paying income taxes demanding those who already pay more than they should doing more. That invalidates your argument because those not paying income taxes shouldn't have a say in how much someone else doing their part pays. Do your part old man and quit being a leech on society.