Why is congress playing these stupid tax games?

[Remodeling Maidiac]

Revenue increases vs rate increases. The bottom line is some individual tax burdens will increase so why the semantics?

Cut a deduction or raise the rate and allow the deduction. There is no difference in the end.

Making the tax code simpler is a good thing but don't pretend you're not raising taxes.

 

[Remodeling Maidiac]

This little game doesn't bother anyone else? I mean if you're gonna raise taxes just fucking man up to it rather than trying to fool the people with name games.

 

[Oddball]

When you do things like eliminate sops to the mortgage bankers like the mortgage deduction and flatten the rates, your overall tax bill won't go up.

Problem being that most people look upon such deductions as getting a special dispensation from taxes, when all it is is a big shell game.

 

[Rocko]

Why is Obama playing these stupid tax games?

fixed.

 

[Remodeling Maidiac]

When you do things like eliminate sops to the mortgage bankers like the mortgage deduction and flatten the rates, your overall tax bill won't go up.

Problem being that most people look upon such deductions as getting a special dispensation from taxes, when all it is is a big shell game.

But they aren't talking about lowering the rates with the loss of the deductions. Romney was but now that the election is over I'm only hearing about the deductions and nothing about lowering rates.

 

[Remodeling Maidiac]

Why is Obama playing these stupid tax games?

fixed.

Obama can't do it without congress.

Congress holds the purse strings not Obama.

 

[Black_Label]

Why is Obama playing these stupid tax games?

fixed.

Why is Boner playing these stupid tax games?

Fixed.

 

[Vel]

When you do things like eliminate sops to the mortgage bankers like the mortgage deduction and flatten the rates, your overall tax bill won't go up.

Problem being that most people look upon such deductions as getting a special dispensation from taxes, when all it is is a big shell game.

But they aren't talking about lowering the rates with the loss of the deductions. Romney was but now that the election is over I'm only hearing about the deductions and nothing about lowering rates.

Well what did you expect? Obama's got cronies to pay back.

 

[Mr. Shaman]

This little game doesn't bother anyone else? I mean if you're gonna raise taxes just fucking man up to it rather than trying to fool the people with name games.

[ame=http://www.youtube.com/watch?v=8dePMo9MK30]Warren Buffett says TAX THE RICH, TAX ME! - YouTube[/ame]​

 

[Mr. Shaman]

Why is Obama playing these stupid tax games?

fixed.

....i.e.....​

....kicked-ass!!!!!!​

"Republican leaders such as Grover Norquist and Senate Minority Leader Mitch McConnell (R-Ky.) continue to strike a hard line on taxes and revenues, “warning” President Barack Obama that the GOP will not negotiate or compromise when it comes to tax policy and deficit reduction.

From an electoral politics standpoint, the Democrats should “have at it.”

As the election made clear, this policy is out of step with voters. Obama made raising taxes on people making more than $250,000 a year a centerpiece of his economic message – something he emphasized in his recent press conference – and he was rewarded with a resounding victory. Voters also handed Democrats an increased Senate majority, where the tax debate played out front-and-center in many campaigns.

This theme echoed through state politics as well. Voters in California, for example, passed Governor Jerry Brown’s plan to fund K-12 public schools through a revenue increase that comes from the highest earners.

Strikingly, on taxes – an issue long considered Republican terrain – Obama actually held a 46 – 44 percent advantage over GOP presidential nominee Mitt Romney among voters."

 

[C_Clayton_Jones]

Revenue increases vs rate increases. The bottom line is some individual tax burdens will increase so why the semantics?

Cut a deduction or raise the rate and allow the deduction. There is no difference in the end.

Making the tax code simpler is a good thing but don't pretend you're not raising taxes.

Because it’s about politics and fear, not taxes.

For many Congressional republicans, most of whom elected per the ‘tea party’ agenda, and others who swore an oath to Grover Norquist, rather than the Constitution and their constituents, a vote to raise taxes is the same as resigning from office.

 

[waltky]

Eliminating the mortgage interest deduction on second homes will affect mainly the well off...

Mortgage-interest deduction could be on the table in ‘fiscal cliff’ debate
Thursday, November 29,`12 : Of all the deductions woven into the sprawling U.S. tax code, few have been more fiercely guarded than the enormous tax break that lets homeowners deduct the interest they pay on their mortgages.

But as Congress and the White House negotiate the first major rewrite of tax laws in decades, changing the generations-old mortgage-interest deduction — which costs the government roughly $100 billion a year — has gone from far-off possibility to part of the conversation. The outcome of that debate could have profound long-term effects on homeowners across the country — and particularly those in the Washington area, who tend to benefit from the tax break more than many other Americans due to the region’s hefty home prices and high incomes.

As the Obama administration and lawmakers on Capitol Hill scramble to defuse automatic spending cuts and tax increases set to take effect Jan. 1, a herd of sacred cows — from Social Security and Medicare to deductions for charitable giving and mortgage interest — are in danger of losing their untouchable status. Members of both parties have largely steered clear of detailed proposals so far. But plans put forth in the past year by President Obama and Mitt Romney to place limits on annual total tax deductions are likely to crimp the mortgage-interest deduction for certain taxpayers. Top congressional Republicans also have expressed openness to limiting total tax deductions as part of an overall budget deal. In addition, the presidentially appointed Simpson-Bowles fiscal commission suggested scaling back the mortgage-interest deduction as part of its own set of tax-related proposals.

Current law allows homeowners to deduct the interest paid on mortgage balances up to $1 million, including on second homes, as well as on $100,000 worth of home-equity loans. The deduction overwhelmingly benefits wealthier families, partly because they tend to have larger mortgages and pay more interest, and partly because most low- and middle-income Americans do not itemize deductions on their tax returns. It also tends to favor homeowners on the East and West Coasts, as well as those in large cities such as Chicago, where average home prices are higher. Edward Kleinbard, a tax expert and law professor at the University of Southern California, said the mortgage-interest deduction represents the kind of government “extravagance” that the country no longer can justify, given its fiscal troubles. “We simply cannot afford wasteful government subsidy programs anymore, and this is one of the most important examples of that,” Kleinbard said. “It’s very much a subsidy to those Americans who need it least.”

True enough, said Moody’s chief economist Mark Zandi, but the deduction nevertheless has become ingrained in the psyche of home buyers over generations, and reducing it would have real effects. “It’s a very visceral thing for people,” Zandi said. “People account for it when they think about how much house they could afford to buy. You take that away, and house prices are going to weaken. They are going to decline.”

MORE

 

[uscitizen]

Cut some deductions, raise the cap gains tax.
And make a ham and cheese sandwitch.

 

[Sallow]

Why is Obama playing these stupid tax games?

fixed.

There's no game.

I hope he stands firm..and we go through with what congress agreed too.

 

[Remodeling Maidiac]

Everyone is bitching about the republicans. "THEY BETTER NOT GIVE IN"

Fuck that. Let democrats have their cake. Shrink into the backgroung and hang this god damn noose around their necks.

If it works learn something. When it doesn't take back America. Americans voted for this bullshit, let them reap it.