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Obama to propose $1.5 Trillion in new taxes

Claudette

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By all means. Lets raise taxes in this sucky economy. That will fix everything.

I'm sure once that happens the economy will take off. UE will fall to 5% and we'll all be in super duper shape.

This guy really needs to catch a damned clue. Jeeze.

Carvels right. This guy needs to fire whoever is advising him. These guys suck big time.
 
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Dot Com

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Yeah. We need to leave them alone. They've had tax-cuts going on 10- years. Cuts to programs for the elderly & children are way to go :doubt: :clap2:
 
OP
manifold

manifold

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Call me selfish, but I'm ok with tax hikes on anybody other than me. :D
 

Grampa Murked U

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This man is utterly clueless.

He has 3 separate proposals with the same tax hikes in all of them. He just can't form any other ideas for our country. Talk about a one track minded simpleton.
 

Conservative

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Democrats Balking at Obama Tax Plan

¬ďThis is the time for new ideas, not re-fighting old battles for short-term political gain.¬Ē

-- Aide to a Democratic senator talking to ¬ďPower Play¬Ē about President Obama¬ís tax proposals.

When the best Obama can get as an answer to ¬ďpass this bill today¬Ē from Sen. Dick Durbin, the number two Senate Democrat, and longtime friend and home state senator is, ¬ďsometime next month¬Ē one gets the sense that the blue team is not feeling the fierce urgency of now.

Part is the fact that Obama served up mostly a rehash of his first, February 2009 stimulus package. The White House thought that would make it harder for Republicans to say no since the ideas aren¬ít controversial. But not only have Republicans been able to repeat ¬ďmore failed stimulus¬Ē until they are hoarse, but Obama has not been able to win the support of key moderate Democrats.

Even the payroll tax cut extension and expansion, assumed to be the least controversial parts of the president’s plan, have been kind of a fizzle. Conservatives said such temporary measures don’t work since businesses crave predictability and many Democrats dislike the fact that taxes being lowered are the ones that finance Social Security.

The president is pretty plainly trying to bait House Republicans into a battle in which they are defending ¬ďmillionaires and billionaires.¬Ē Obama is even naming the measure after billionaire Warren Buffett, one of his most prominent supporters, who has asked that he be taxed at a higher rate. And rather than talking about stimulating the economy, Obama is explicitly talking about flattening income inequality.
Translation: Wealth redistribution

But the congressional Democrats on whom Obama is relying to keep Republicans pinned down have so far not joined the president at the barricades. Part of that has been that liberals aren’t happy that the president has proposed stimulus lite, but mostly because Democrats don’t currently see Obama as a good friend to have these days.

Since Obama began his fall campaign effort, the administration has been beset by scandal (Fast and Furious, Solyndra and LightSquared) and Democrats have lost two special elections in which Obama himself was the central issue. The president has obtained no job-approval bounce from his latest publicity blitz. The administration is pushing back with vigor against a new book by Ron Suskind which shows a dysfunctional White House and a president who compares his own management style with that of Jimmy Carter.
 

DiamondDave

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OK, so what's the plan for paying off that $15 trillion in national debt?

Spend less... get those not paying federal income taxes actually paying some, if not equalizing the tax rate on every dollar across the board... spend even less... cut more programs/agencies... spend less.. get the bottom line down and use the huge amount we already pay in taxes like it is supposed to be used and not some charity gambit
 

Dot Com

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OK, so what's the plan for paying off that $15 trillion in national debt?

Cut funds to programs for the elderly and children. Its the Conservative way :) It ought to balance the books in say 50-75 yrs. Millionaires & Billionaires .....errr......I mean "job creators" (latest GOP talking-point) are going through a difficult time dontcha' know. :(
 

DiamondDave

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OK, so what's the plan for paying off that $15 trillion in national debt?

Cut funds to programs for the elderly and children. Its the Conservative way :) It ought to balance the books in say 50-75 yrs. Millionaires & Billionaires .....errr......I mean "job creators" (latest GOP talking-point) are going through a difficult time dontcha' know. :(

No matter the 'hard time' any group has... treat them all equally... not some pyramid scheme of pandering for votes... funny how you guys want equal treatment, only when it benefits you.. and fully support unequal treatment, when it benefits you
 

boedicca

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Yet more economic lunacy from Obama:

Key features of Obama's plan, as described by senior administration officials Sunday evening:

-$1.5 trillion in new revenue, which would include about $800 billion realized over 10 years from repealing the Bush-era tax rates for couples making more than $250,000. It also would place limits on deductions for wealthy filers and end certain corporate loopholes and subsidies for oil and gas companies.

-$580 billion in cuts in mandatory benefit programs, including $248 billion in Medicare and $72 billion in Medicaid and other health programs. Other mandatory benefit programs include farm subsidies.

-$430 billion in savings from lower interest payment on the national debt.

By adding about $1 trillion in spending cuts already enacted by Congress and counting about $1 trillion in savings from the drawdown of military forces from Iraq and Afghanistan, the combined deficit reduction would total more than $4 trillion over 10 years, senior administration officials said.



http://hosted.ap.org/dynamic/storie...ME&TEMPLATE=DEFAULT&CTIME=2011-09-18-23-33-29

This is not a plan. It's just class warfare on the tax front, wistful thinking on Savings From Lower Interest Payments (at some point, China is going to demand a higher rate), and complete sophistry on the savings from Iraq and Afghanistan.


And didn't he already cut Medicare to pay for ObamaCare?
 

Ernie S.

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"I can make a firm pledge," he said in Dover, N.H., on Sept. 12 (2008). "Under my plan, no family making less than $250,000 a year will see any form of tax increase. Not your income tax, not your payroll tax, not your capital gains taxes, not any of your taxes."
So now it's $1.5 trillion in tax increases, but $800 billion on the wealthy.

"Read my lips! No new taxes"

sound familiar? The economy is in considerably worse shape now than in '92
 

boedicca

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I'm listening to his announcement this am. It is just rehashed b'loney. The same old Tax and Spend Class Warfare...without really addressing reducing the size and scope of government.

He's going to Scrub the Budgets to eliminate every Dime of Waste and Inefficiency.

Really? When has that Every Worked?

Also - 10 years of increased taxes to cover his current spending. What do we do next year?
 

Conservative

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Yet more economic lunacy from Obama:

Key features of Obama's plan, as described by senior administration officials Sunday evening:

-$1.5 trillion in new revenue, which would include about $800 billion realized over 10 years from repealing the Bush-era tax rates for couples making more than $250,000. It also would place limits on deductions for wealthy filers and end certain corporate loopholes and subsidies for oil and gas companies.

-$580 billion in cuts in mandatory benefit programs, including $248 billion in Medicare and $72 billion in Medicaid and other health programs. Other mandatory benefit programs include farm subsidies.

-$430 billion in savings from lower interest payment on the national debt.

By adding about $1 trillion in spending cuts already enacted by Congress and counting about $1 trillion in savings from the drawdown of military forces from Iraq and Afghanistan, the combined deficit reduction would total more than $4 trillion over 10 years, senior administration officials said.



News from The Associated Press

This is not a plan. It's just class warfare on the tax front, wistful thinking on Savings From Lower Interest Payments (at some point, China is going to demand a higher rate), and complete sophistry on the savings from Iraq and Afghanistan.


And didn't he already cut Medicare to pay for ObamaCare?

He counts 2 trillion in reductions that are already enacted, as part of this plan?

WTF????
 

boedicca

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Ahhhh!!!!

He actually said: Warren Buffett's secretary shouldn't pay a higher tax rate than Warren Buffett.

What a sad joke.
 

boedicca

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I am really tired of him equating middle class families making $250K+ with Warren Buffett, Hedge Fund Managers, and Millionaires&Billionares.

And what about the Fair Share aspect of having the government live within its means the way responsible families do?
 

eflatminor

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Yeah. We need to leave them alone. They've had tax-cuts going on 10- years. Cuts to programs for the elderly & children are way to go :doubt: :clap2:

Do you realize that if the federal government took 100% of top earners incomes, we still wouldn't be able to cover THIS YEAR'S deficit, much less begin to chip away at the nearly $15trillion of debt we've accumulated? Those of us that actually pay the vast majority of the taxes are handing up to 50% of our income to the local, state and federal government (more in some states). Just how much of what a person earns should they be able to keep? Is it moral to take over 1/2 of what you earn...well, not YOU of course.

It's SPENDING problem, not a revenue problem!

And stop going on about old people and children. We didn't have Medicare before 1964 yet we didn't see people dying in the streets, did we? In fact, we had relatively few federal programs before the onslaught of your so called 'great society', which has like all other centrally planned attempts to control, proven fiscally unsustainable.
 

boedicca

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Ahahahaha!

He's now saying "George Washington grappled with this problem."

Oh Puh-leeeze. George Washington would never have engaged in this bloated spending and class warfare nonsense.
 

Immanuel

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OK, so what's the plan for paying off that $15 trillion in national debt?

I suppose a good start would be to elect someone other than Obama and the spend crazy Congress critters come next November.

Immie
 

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