POLL--31% voting for Obama BELIEVE they are going to get a TAX CUT!

So your a small business owner that has a consistent net of over $250k?

Who said it was 250K jschuck? last I heard it was 200K? but if I listen to Joe Biden it's 150K, or if I listned to Barack Obama in 2001 it was 80K. to answer your question, my net falls above the marks stated in Obama's recent speech about who will and won't recieve a tax cut. Not that I won't just use more write-offs to get below this ill advised policy, however the point is this so called tax cut while yes will realize a tax break for the intended target but thats all it will do. It won't however reduce the deficit, or cut spending, or do a thing about unemployment numbers that will go up as a result of it, or for that matter the inflation it will produce. So as I have stated before, while it may be a lot of fun in the short term in the long term it is ill advised and vert destructive.
 
Who said it was 250K jschuck? last I heard it was 200K? but if I listen to Joe Biden it's 150K, or if I listned to Barack Obama in 2001 it was 80K. to answer your question, my net falls above the marks stated in Obama's recent speech about who will and won't recieve a tax cut. Not that I won't just use more write-offs to get below this ill advised policy, however the point is this so called tax cut while yes will realize a tax break for the intended target but thats all it will do. It won't however reduce the deficit, or cut spending, or do a thing about unemployment numbers that will go up as a result of it, or for that matter the inflation it will produce. So as I have stated before, while it may be a lot of fun in the short term in the long term it is ill advised and vert destructive.

Navy we discussed this the other day, his plan is in black and white and has never changed. I dont understand why you continue to buy into the spin. You can easily go to the Tax policy center website and see a breakdown per income level. I dont get why you keep saying you dont know. Biden was specifically speaking to one tax bracket, we need to use common sense. I posted a side by side comparison of Mccain and Obama so everyone will not get the same break so its important to let people know specifics because they dont do the research themselves.
 
I'm astounded at all those who are obsessing over tax plans. There are so many other factors at play in our economy that a shift in any of them could easily strip any benefits you might get from one tax plan or the other.
Are we just unable to look at the big economic picture ?

It is a little silly, the tax breaks Mccain and Obama are giving are not that much, I can find that many write offs in my sofa cusion.
 
Navy we discussed this the other day, his plan is in black and white and has never changed. I dont understand why you continue to buy into the spin. You can easily go to the Tax policy center website and see a breakdown per income level. I dont get why you keep saying you dont know. Biden was specifically speaking to one tax bracket, we need to use common sense. I posted a side by side comparison of Mccain and Obama so everyone will not get the same break so its important to let people know specifics because they dont do the research themselves.

Giving him a break that he actually intends to stay with his promises, a very large given, when was the last time a president got something like this done their way?

If the legislature decides not enough revenue generated at the proposed rates and choose to lower them, again and again, do you see a veto? I don't. It will be the fault of Congress, which the people rarely punish. :eusa_shhh:
 
Navy we discussed this the other day, his plan is in black and white and has never changed. I dont understand why you continue to buy into the spin. You can easily go to the Tax policy center website and see a breakdown per income level. I dont get why you keep saying you dont know. Biden was specifically speaking to one tax bracket, we need to use common sense. I posted a side by side comparison of Mccain and Obama so everyone will not get the same break so its important to let people know specifics because they dont do the research themselves.


Jschuck, you know as well as I do that the .pdf that Obama has put out has not changed. However, Barack Obama's definition has changed in the verbal sense. It still does change any of the factors that I submitted earlier. As for the comparision between McCain and Obama , personally this promise to spend money while not addressing the bottom line issues here is short sighted and ill advised on the part of both McCain and Obama. This tax cut is nothing more than an attempt to provide and economic stimulis while punishing business and this so called wealthy that has all the sudden become something to be scorned in the nation. In the end this short sighted tax cut will do what the stimulis did, and that is nothing. Barack Obama is inheriting a massive debt load plus he intends to add a trillion dollars to that debt. While everyone I'm sure will be dancing in the streets over this ill advised tax plan, it will in the end lead to a further eroding of the economy that IMO will take a long time to reverse. This tax scheme is nothing new however, and has been tried before by Herbert Hoover and you know and I know what the results of his Administration were.
 
Jschuck, you know as well as I do that the .pdf that Obama has put out has not changed. However, Barack Obama's definition has changed in the verbal sense. It still does change any of the factors that I submitted earlier. As for the comparision between McCain and Obama , personally this promise to spend money while not addressing the bottom line issues here is short sighted and ill advised on the part of both McCain and Obama. This tax cut is nothing more than an attempt to provide and economic stimulis while punishing business and this so called wealthy that has all the sudden become something to be scorned in the nation. In the end this short sighted tax cut will do what the stimulis did, and that is nothing. Barack Obama is inheriting a massive debt load plus he intends to add a trillion dollars to that debt. While everyone I'm sure will be dancing in the streets over this ill advised tax plan, it will in the end lead to a further eroding of the economy that IMO will take a long time to reverse. This tax scheme is nothing new however, and has been tried before by Herbert Hoover and you know and I know what the results of his Administration were.

This tax plan was also used by President Clinton, and you know and I know how the country did when he was in office. Look, the tax breaks are minimal and not why I voted for Obama but I dont see why there is any confusion between the 2 tax plans, they are in black and white and if you just dont believe them then thats fine, I know candidates have flip flopped but if Obama flip flops on his plan it will kill him politically based on how hard he is pushing this plan. If he wants to commit suicide then so be it, Clinton did the same thing but he built the economy so much everyone forgot about it.
 
This tax plan was also used by President Clinton, and you know and I know how the country did when he was in office. Look, the tax breaks are minimal and not why I voted for Obama but I dont see why there is any confusion between the 2 tax plans, they are in black and white and if you just dont believe them then thats fine, I know candidates have flip flopped but if Obama flip flops on his plan it will kill him politically based on how hard he is pushing this plan. If he wants to commit suicide then so be it, Clinton did the same thing but he built the economy so much everyone forgot about it.

You are absolutly incorrect on your assesment that this tax plan is anything like Bill Clinton's tax plan. First the Clinton tax hike took place when there were 8 consecutive quarters of growth, Second his tax hike was a an Across the board tax increase.

An increase in the individual income tax rate to 36 percent and a 10 percent surcharge for the highest earners, thereby effectively creating a top rate of 39.6 percent.
Repeal of the income cap on Medicare taxes. This provision made the 2.9 percent Medicare payroll tax apply to all wage income. Like the Social Security payroll tax base today, the Medicare tax base was capped at a certain level of wage income prior to 1993.
A 4.3 cent per gallon increase in transportation fuel taxes.
An increase in the taxable portion of Social Security benefits.
A permanent extension of the phase-out of personal exemptions and the phase-down of the deduction for itemized expenses.

Raising the corporate income tax rate to 35 percent.

What people neglect to mention when they make this false comparision is that the Clinton tax increase was meant to DIRECTLY ADDRESS THE BUSGET DEFICIT. The other thing that people neglect to metion when they address this false comparison is the 1997 tax reduction act that Bill Clinton signed that was an across the board tax reduction that further stimulated the 90's economy. The only thing that Obama's plan and Clinton's plan have in common is how close the top rate tax is. You see, the message gets lost in this joy for the money that Obama will give the Middle Class and poor in that Clinton was smart enough to realize you don't raise taxes without reducing the deficit and when you do you raise them on everyone.
 
This tax plan was also used by President Clinton, and you know and I know how the country did when he was in office. Look, the tax breaks are minimal and not why I voted for Obama but I dont see why there is any confusion between the 2 tax plans, they are in black and white and if you just dont believe them then thats fine, I know candidates have flip flopped but if Obama flip flops on his plan it will kill him politically based on how hard he is pushing this plan. If he wants to commit suicide then so be it, Clinton did the same thing but he built the economy so much everyone forgot about it.

Clinton did not build the economy. He got out of the way so hard working Americans could build the economy. And he had no choice as he had a Republican House to deal with from 1994 on. So we got Welfare REform and Free Trade enacted. He also had the Tech Boom and Reagan's tax cuts at his back.

I don't see Obama getting out of the way if he is elected. Not with his own obvious agenda and Pelosi and Reid. That three headed monster is gonna be a frickin disaster that will be felt for decades.
 
The only thing that Obama's plan and Clinton's plan have in common is how close the top rate tax is. .

The top tax rate is what everyone seems to have an issue with, this is where the socialism card is being thrown. When I read posts its not about all the other tax categories you posted, its about the fact that he is going to tax the rich at a higher rate, that was my point when relating the 2 tax plans.
 
Clinton did not build the economy. He got out of the way so hard working Americans could build the economy. And he had no choice as he had a Republican House to deal with from 1994 on. So we got Welfare REform and Free Trade enacted. He also had the Tech Boom and Reagan's tax cuts at his back.

I don't see Obama getting out of the way if he is elected. Not with his own obvious agenda and Pelosi and Reid. That three headed monster is gonna be a frickin disaster that will be felt for decades.

The disaster that is being felt for decades is the $9 trillion dollar increase in the National Debt created by the borrow and spend policies of Reagan and Bush.
 
I keep hearing Reagan and Bush. I'm confused, as I thought Clinton created a surplus, so how can now be then?
 
I keep hearing Reagan and Bush. I'm confused, as I thought Clinton created a surplus, so how can now be then?

There is a difference between a yearly deficit or surplus and the long term National Debt which Reagan and Bush are responsible for 90% of.
 
Clinton did not build the economy. He got out of the way so hard working Americans could build the economy. And he had no choice as he had a Republican House to deal with from 1994 on. So we got Welfare REform and Free Trade enacted. He also had the Tech Boom and Reagan's tax cuts at his back.

I don't see Obama getting out of the way if he is elected. Not with his own obvious agenda and Pelosi and Reid. That three headed monster is gonna be a frickin disaster that will be felt for decades.

He gets credit for it because he was president, I will be the first to admit he rode the coattails of the internet boom but this is what I like about Obama, he wants to take a stab at creating another market boom through a comprehensive energy plan. I havent heard anything from the Cons that compares as it seems they want everything to stay the same. I believe ideas like this can actually pull us out of this mess and I dont see any other way we can create jobs and payoff debt at a steady level.
 
You are absolutly incorrect on your assesment that this tax plan is anything like Bill Clinton's tax plan. First the Clinton tax hike took place when there were 8 consecutive quarters of growth, Second his tax hike was a an Across the board tax increase.

An increase in the individual income tax rate to 36 percent and a 10 percent surcharge for the highest earners, thereby effectively creating a top rate of 39.6 percent.
Repeal of the income cap on Medicare taxes. This provision made the 2.9 percent Medicare payroll tax apply to all wage income. Like the Social Security payroll tax base today, the Medicare tax base was capped at a certain level of wage income prior to 1993.
A 4.3 cent per gallon increase in transportation fuel taxes.
An increase in the taxable portion of Social Security benefits.
A permanent extension of the phase-out of personal exemptions and the phase-down of the deduction for itemized expenses.

Raising the corporate income tax rate to 35 percent.

What people neglect to mention when they make this false comparision is that the Clinton tax increase was meant to DIRECTLY ADDRESS THE BUSGET DEFICIT. The other thing that people neglect to metion when they address this false comparison is the 1997 tax reduction act that Bill Clinton signed that was an across the board tax reduction that further stimulated the 90's economy. The only thing that Obama's plan and Clinton's plan have in common is how close the top rate tax is. You see, the message gets lost in this joy for the money that Obama will give the Middle Class and poor in that Clinton was smart enough to realize you don't raise taxes without reducing the deficit and when you do you raise them on everyone.
good morning navy!!
were there tax increases on the middle tax rate brackets or not? i don't think their were, but i could be wrong on that...your post was not clear on this for me...?

Care
 
good morning navy!!
were there tax increases on the middle tax rate brackets or not? i don't think their were, but i could be wrong on that...your post was not clear on this for me...?

Care

I know I'm not Navy but from what I remember Clinton promised a middle class tax cut but didnt give one, but he did raise the taxes on the upper class.
 
Giving him a break that he actually intends to stay with his promises, a very large given, when was the last time a president got something like this done their way?

If the legislature decides not enough revenue generated at the proposed rates and choose to lower them, again and again, do you see a veto? I don't. It will be the fault of Congress, which the people rarely punish. :eusa_shhh:

No out for McCain though. He'd get all the blame, Democratic congress. I'll be glad when this is over. As I've said, I think Obama very dangerous, but will hope I'm wrong.
 
I'm astounded at all those who are obsessing over tax plans. There are so many other factors at play in our economy that a shift in any of them could easily strip any benefits you might get from one tax plan or the other.
Are we just unable to look at the big economic picture ?
yes, this is sooooooooooo true....

the printing of cheap money and the bailouts and all ....effect us much more with the devaluation of our dollar, reducing all of our purchasing power...almost worse than any tax plan...or actually worse, than any tax plan...

care
 

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