Obama Millionaire's Tax: President To Seek New Tax Rate For Wealthy

[The Rabbi]

Cold hard facts. The rich pay federal income tax. 50% of you leeches do not pay federal income tax. quit leeching and pay your fair share.

The poor get poorer.

Actually the poor have gotten richer. Just not as fast as the rich.

 

[Photonic]

Cold hard facts. The rich pay federal income tax. 50% of you leeches do not pay federal income tax. quit leeching and pay your fair share.

The poor get poorer.

Actually the poor have gotten richer. Just not as fast as the rich.

Prove it.

 

[The Rabbi]

The poor get poorer.

Actually the poor have gotten richer. Just not as fast as the rich.

Prove it.

Go do the research, asshole. I'm not here to do the work for you.
Keep in mind that many studies do not include gov't benefits as income.

 

[Full-Auto]

Actually, I answered it quite directly. Politics over policy. Hard to comment without context. Speaking of which, got links for this 800 billion in REVENUE?

Here's the Reuters timeline:

Timeline: Debt debate

I'm just gonna put in the parts speaking directly to revenue.

December 1, 2010 - A report by a bipartisan deficit reduction panel commissioned by Obama advocates $3 trillion in spending cuts and $1 trillion in revenue increases -- mainly by closing loopholes in the tax code -- over 10 years.

June 23 - Republicans declare an impasse in the Biden talks, saying that Democrats are insisting on roughly $400 billion in new revenue by closing tax breaks for the wealthy and certain business sectors.

July 19 - The "Gang of Six" resurfaces with a deficit reduction plan that proposes $3.75 trillion in savings over 10 years and contains $1.2 trillion in new revenues. Obama seizes on it and calls on leaders in Congress to start "talking turkey." House Republicans pass a more drastic $5.8 trillion deficit-reduction plan with a balanced budget amendment.

July 21 - Obama and Boehner are reported to be discussing a $3 trillion deficit-cutting deal. Obama stresses some revenues will need to be included in any accord. Obama meets with congressional Democratic leaders at the White House, but there are no reports of a breakthrough. (Boehner walks out over 400 billion in revenue)

Where is this 800 billion and please tell me again who is willing to compromise and who isn't?

You threw up a guess, that had no bearing on reality. As the DNC took the first initiative.

And you have yet to provide a SINGLE fact to back up your contentions.

I do believe the GOP has long been on record as having their ONLY goal be the failure of this President. That happened long before the DNC allegedly asked Shumer to label the cuts in Ryans extreme plan as extreme.

So where's the 800 billion?

Would you like to see the chart of filibusters and cloture votes from the GnOP since Barack Obama has been President? How about his judicial nominees?

Tell me AGAIN about this Republican party of compromise. I love fairy tales.

The debate in context of the remarks has already taken place. Ignoring that makes this conversation useless. Democrats have been trying to give away the farm. They are being stopped. Exactly what they were sent to washington to do.

Now Democrats set the tone of the legislature. Just think back to HC and you dont have a single excuse for being blocked at every turn.

Now with judicial nominees you have even less creds. It may have been a while but I still recall the scandal. Quid pro quo.

But before this congress even got its feet wet. Budget topics were to be called extreme. That alone set the tone for current negotiations.

So I dont find much sympathy for the left.

 

[Seawytch]

You threw up a guess, that had no bearing on reality. As the DNC took the first initiative.

And you have yet to provide a SINGLE fact to back up your contentions.

I do believe the GOP has long been on record as having their ONLY goal be the failure of this President. That happened long before the DNC allegedly asked Shumer to label the cuts in Ryans extreme plan as extreme.

So where's the 800 billion?

Would you like to see the chart of filibusters and cloture votes from the GnOP since Barack Obama has been President? How about his judicial nominees?

Tell me AGAIN about this Republican party of compromise. I love fairy tales.

The debate in context of the remarks has already taken place. Ignoring that makes this conversation useless. Democrats have been trying to give away the farm. They are being stopped. Exactly what they were sent to washington to do.

Now Democrats set the tone of the legislature. Just think back to HC and you dont have a single excuse for being blocked at every turn.

Now with judicial nominees you have even less creds. It may have been a while but I still recall the scandal. Quid pro quo.

But before this congress even got its feet wet. Budget topics were to be called extreme. That alone set the tone for current negotiations.

So I dont find much sympathy for the left.

So having the GOP leadership blocking anything and everything the president proposes...even before he proposes it didn't set the tone? Having GOP leadership saying that their only goal is to ensure this President's failure didn't set the tone? Blocking every appointment of his doesn't set the tone, but Shumer allegedly being told by the DNC to label Ryans extreme budget cuts AS extreme does?

Way to spin it...

 

[boedicca]

I'm just gonna put in the parts speaking directly to revenue.

December 1, 2010 - A report by a bipartisan deficit reduction panel commissioned by Obama advocates $3 trillion in spending cuts and $1 trillion in revenue increases -- mainly by closing loopholes in the tax code -- over 10 years.

Why didn't Obama proceed with the recommendations from the Bowles-Simpson Commission? He created the commission, and promptly disregarded their plan.

 

[Full-Auto]

And you have yet to provide a SINGLE fact to back up your contentions.

I do believe the GOP has long been on record as having their ONLY goal be the failure of this President. That happened long before the DNC allegedly asked Shumer to label the cuts in Ryans extreme plan as extreme.

So where's the 800 billion?

Would you like to see the chart of filibusters and cloture votes from the GnOP since Barack Obama has been President? How about his judicial nominees?

Tell me AGAIN about this Republican party of compromise. I love fairy tales.

The debate in context of the remarks has already taken place. Ignoring that makes this conversation useless. Democrats have been trying to give away the farm. They are being stopped. Exactly what they were sent to washington to do.

Now Democrats set the tone of the legislature. Just think back to HC and you dont have a single excuse for being blocked at every turn.

Now with judicial nominees you have even less creds. It may have been a while but I still recall the scandal. Quid pro quo.

But before this congress even got its feet wet. Budget topics were to be called extreme. That alone set the tone for current negotiations.

So I dont find much sympathy for the left.

So having the GOP leadership blocking anything and everything the president proposes...even before he proposes it didn't set the tone? Having GOP leadership saying that their only goal is to ensure this President's failure didn't set the tone? Blocking every appointment of his doesn't set the tone, but Shumer allegedly being told by the DNC to label Ryans extreme budget cuts AS extreme does?

Way to spin it...

Anything and everything isnt accurate either.

Work on the drama.

 

[Dragon]

Cold hard facts. The rich pay federal income tax. 50% of you leeches do not pay federal income tax. quit leeching and pay your fair share.

Cold hard facts you are ignoring:

1) There are other federal taxes besides federal income tax, so limiting the discussion only to income tax is dishonest.

2) The reason a large share of the income tax is paid by the rich is because the rich have an unhealthily large share of the income.

 

[Cuyo]

Cold hard facts. The rich pay federal income tax. 50% of you leeches do not pay federal income tax. quit leeching and pay your fair share.

The poor get poorer.

God forbid we address the issue of poverty. Much easier to demonize them.

 

[Cuyo]

Cold hard facts. The rich pay federal income tax. 50% of you leeches do not pay federal income tax. quit leeching and pay your fair share.

Cold hard facts you are ignoring:

1) There are other federal taxes besides federal income tax, so limiting the discussion only to income tax is dishonest.

2) The reason a large share of the income tax is paid by the rich is because the rich have an unhealthily large share of the income.

Yeah, obviously, but at least she said "federal income tax" and not just "tax."

Of course, "federal income tax" is only about 40% of total receipts; Payroll taxes which everyone pays are another 40%.

 

[Sallow]

It's more money grubbing by Obama and the Statists. The real answer is to cut Government.

Agreed.

Time to end the wars.

Bring the troops home.

Close all foreign bases.

And cut military spending to "defense" spending.

Should save about 300 billion or so a year.

 

[alan1]

Cold hard facts. The rich pay federal income tax. 50% of you leeches do not pay federal income tax. quit leeching and pay your fair share.

The poor get poorer.

God forbid we address the issue of poverty. Much easier to demonize them.

The Great War On Poverty has existed for 50 years.
For the last 45 years the poverty rate has remained between about 11.5% and 15.3%. That's not much of a difference. Guess what the current poverty rate is?

 

[Photonic]

Actually the poor have gotten richer. Just not as fast as the rich.

Prove it.

Go do the research, asshole. I'm not here to do the work for you.
Keep in mind that many studies do not include gov't benefits as income.

You made an absurd claim and now you need to back it up. But you know what. I'll give you a pass JUST THIS ONCE to shut you up. Though undoubtedly you'll open your mouth and out from it will spew blinded nonsense.

Up until 1970's income inequality was decreasing. Since then it has risen. To give you a more global perspective on the problem...

File:Gini Coefficient World CIA Report 2009.png - Wikipedia, the free encyclopedia

The Gini Coefficient is a way to rate income distribution of the population of a country. With 0 being perfect distribution and 1 stating that a single person has all the income.

More from the US Census: File:US poverty rate timeline.gif - Wikipedia, the free encyclopedia

Here's some NEW info too!

In addition, according to U.S. Census Bureau data released Tuesday September 13th, 2011, the nation's poverty rate rose to 15.1% in 2010, up from 14.3% in 2009 and to its highest level since 1993. [(United States Census Bureau|U.S. Census Bureau]]

I did your job for you. I want a reasonable response in compensation.

 

[LordBrownTrout]

It's time for Washington to do without, not us.

Why do libs have to continuously segregate us all into class systems? Never understood that. Does it stem from segregation in the south?

 

[Seawytch]

It's more money grubbing by Obama and the Statists. The real answer is to cut Government.

Agreed.

Time to end the wars.

Bring the troops home.

Close all foreign bases.

And cut military spending to "defense" spending.

Should save about 300 billion or so a year.

The ability for Mediare to negotiate drugs costs like the VA does would help a lot too.

I'm one of those far left liberals the right likes to froth at the mouth about and I don't want big government, I want good, efficient and effective government.

 

[Charles_Main]

Don't forget that the new definition for millionaire is anyone making 200K a year

Yep, the Dirty little Secret of Obama and his Brainless followers. "millionaires" are actually anyone who makes more than 200k a year.

Hell if a person is making 200k a year, If they are lucky and save 20% of their income every year, it will only take 25 years before they are actually a MILLIONAIRE!

 

[editec]

FWIW, a millionaire is anyone whose assets excede $1,000,000.

I have very little doubt that many people whose incomes are in the $200,000 a year range (and have been for a while) probably ARE millionaires.

FWIW I do not think of them as RICH, they are merely rather affluent.

They are ALSO the people who are getting SCREWED BY THE TAX RATES more than any other class of taxpayers.

 

[The Rabbi]

Prove it.

Go do the research, asshole. I'm not here to do the work for you.
Keep in mind that many studies do not include gov't benefits as income.

You made an absurd claim and now you need to back it up. But you know what. I'll give you a pass JUST THIS ONCE to shut you up. Though undoubtedly you'll open your mouth and out from it will spew blinded nonsense.

Up until 1970's income inequality was decreasing. Since then it has risen. To give you a more global perspective on the problem...

File:Gini Coefficient World CIA Report 2009.png - Wikipedia, the free encyclopedia

The Gini Coefficient is a way to rate income distribution of the population of a country. With 0 being perfect distribution and 1 stating that a single person has all the income.

More from the US Census: File:US poverty rate timeline.gif - Wikipedia, the free encyclopedia

Here's some NEW info too!

In addition, according to U.S. Census Bureau data released Tuesday September 13th, 2011, the nation's poverty rate rose to 15.1% in 2010, up from 14.3% in 2009 and to its highest level since 1993. [(United States Census Bureau|U.S. Census Bureau]]

I did your job for you. I want a reasonable response in compensation.

You did no job at all. You merely presented facts that were not responsive to my claim. You claim there is income inequality. That is true. You claim it is rising. That is also true.
My claim had nothing to do with that. Rather, my claim is that the lowest quintile in income also experienced growth over the last 10-15 years, just not as fast as higher income groups. The most recent three years of course show regression, since Obama's policies have utterly failed.
Even so, that growth does not count gov't transfers and in-kind payments like Section 8 vouchers, WIC etc.
http://en.wikipedia.org/wiki/Household_income_in_the_United_States#Quintiles

Personally income inequality doesn't bother me in the least since it is a matter that the most productive people are earning more and more money. It is generally not the result of gov't policies, which is the case in South American countries, African dictatorships etc.

 

[Photonic]

FWIW, a millionaire is anyone whose assets excede $1,000,000.

I have very little doubt that many people whose incomes are in the $200,000 a year range (and have been for a while) probably ARE millionaires.

FWIW I do not think of them as RICH, they are merely rather affluent.

They are ALSO the people who are getting SCREWED BY THE TAX RATES more than any other class of taxpayers.

This is incredibly true. They earn to much to claim many of the benefits of being taxed. They are also taxed the highest without the ability to afford the loopholes the truly rich abuse.

 

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