Obama the Taxer
The budget proposal released Monday would extend Obama’s signature Making Work Pay tax credit — $400 for individuals, $800 for a couple filing jointly — through 2011. But it would also impose nearly $1 trillion in higher taxes on couples making more than $250,000 and individuals making more than $200,000 by not renewing tax cuts enacted under former President George W. Bush. Obama would extend Bush-era tax cuts for families and individuals making less.
Obama revived numerous proposals for business tax increases that didn’t fare well in Congress last year, including a scaled-down plan to increase taxes on U.S. companies with major overseas operations, and plans to increase taxes on oil and gas companies.
But it would also impose nearly $1 trillion in higher taxes on couples making more than $250,000
Shock. Horror. Where is the outrage?
Posted by .(JavaScript must be enabled to view this email address) on February 01, 2010 at 2312 hrs
You should be shocked. If those people don’t pay what the government demands, men with guns will drag them away and lock them in a cage. Government is so compassionate it is willing to destroy people’s lives in order to meet political and social goals. Disgusting…but hey, you get to pretend you’re in control every 2 years by participating in popularity contests to decide whether it’s the left hand or the right hand that holds the gun.
We’re so free!
Posted by .(JavaScript must be enabled to view this email address) on February 01, 2010 at 2341 hrs
Maybe we should just go back to the days of that great conservative Ronald Reagan, when the highest marginal rate was 50% for the majority of his term and it started right around the inflation-adqusted equivalent of where our 33% rate starts now. Reagan also raised taxes during his first term as governor of California in order to balance the state’s budget. Good to see Obama borrowing a page out of Reagan’s playbook.
Posted by Recess Supervisor on February 02, 2010 at 0022 hrs
Grow up java. Even though your description of the way things works is inane and childish, all governments have guns. Name me any where on earth where that is not the case. But the real reason why the mature among us pay taxes is that we want government to work.
That of course does not give you reason to stop bitching, just what you have to say makes us not have to listen.
Posted by .(JavaScript must be enabled to view this email address) on February 02, 2010 at 0651 hrs
Even though we don’t make anywhere near $250K, I am glad that I control my own Salary… Obama is going to learn some lessons about offshore banking the hard way. With the deficit spending he is doing I can see increased marginal rates all the way down to $75K / yr / household.
Posted by .(JavaScript must be enabled to view this email address) on February 02, 2010 at 0729 hrs
The libs need to learn a lesson the hard way. *Hopefully* we’ll be able to watch as they learn what happens to useful idiots when the government has no more need of them.
Posted by .(JavaScript must be enabled to view this email address) on February 02, 2010 at 0757 hrs
But the real reason why the mature among us pay taxes is that we want government to work.
Government doesn’t work. Ever. It is organized force with childish people like you pretending that by participating is an “election” somehow gives you a right to threaten to send men with guns after me for not paying for what you want.
You claim the mature pay taxes…fine. The mature however do NOT force others to pay taxes for things they may not want. That is the mark of the schoolyard bully.
Your government is a joke and is only good at using force or the threat of force to meet social and political goals.
Hmmm…
ter?ror?ism /?t?r??r?z?m/ [ter-uh-riz-uhm]
–noun
1. the use of violence and threats to intimidate or coerce, esp. for political purposes.Posted by .(JavaScript must be enabled to view this email address) on February 02, 2010 at 0831 hrs
I do not know Doug, I suspect he will try and find a way to either prohibit offshore havens or tax them.
In any event, given the size and scope of his increases it is the Laffer Curve which will come back to haunt him.
Hey RS, nice argument there - rather than defend, toss out the old “they did it too” banality. Were you sticking your tongue out when you typed it as well?Posted by .(JavaScript must be enabled to view this email address) on February 02, 2010 at 0833 hrs
Obama is going to learn some lessons about offshore banking the hard way.
I think he already knows about that, since many of our corrupt rulers already stash their cash that way. Only the real idiots, like Rangle, get caught, and as long as their party is the ruling junta they get a pass.
Posted by .(JavaScript must be enabled to view this email address) on February 02, 2010 at 0847 hrs
I can see increased marginal rates all the way down to $75K / yr / household
Actually, that WILL happen. The Alternative Minimum Tax “fix” is NOT part of Obama’s budget proposal.
You are screwed blue and tattooed if you earn >$80K or so—especially in a high-tax state like Wisconsin.
Posted by dad29 on February 02, 2010 at 0937 hrs
http://news.yahoo.com/s/nm/20100201/bs_nm/us_budget_backdoortaxes
So tell me Keith, any shock or outrage on your behalf about any of these back doored tax increase which are going to clobber just about everyone, not just those rich SOBs making more that 250k?
“... the top-tier personal income tax rate will rise to 39.6 percent from 35 percent. But lower-income families will pay more as well: the 25 percent tax bracket will revert back to 28 percent; the 28 percent bracket will increase to 31 percent; and the 33 percent bracket will increase to 36 percent. The special 10 percent bracket is eliminated”
“the AMT could affect an estimated 25 million taxpayers with incomes as low as $33,750 (or $45,000 for joint filers). Even if the patch is extended to last year’s levels, the tax will hit American families that can hardly be considered wealthy—the AMT exemption for 2009 was $46,700 for singles and $70,950 for married couples filing jointly.”“The first $2,400 of unemployment benefits are taxable, in 2009 that amount was tax-free.”
Posted by .(JavaScript must be enabled to view this email address) on February 02, 2010 at 1054 hrs
$1 Trillion Obama Will Never See
Posted by .(JavaScript must be enabled to view this email address) on February 02, 2010 at 1756 hrs
Schmitzy’s response demonstrates a true ignorance. This form of taxation will penalize the poor to a far greater degree. Charities will lose a significant portion of income, as there’s less an incentive for high earners to contribute.
Home values, already depressed thanks to Democratic recklessness…
http://www.nytimes.com/1999/09/30/business/fannie-mae-eases-credit-to-aid-mortgage-lending.html?sec=&spon;=&pagewanted=1...will continue to erode. Who’s interested in paying a mortgage without a benefit of a tax deduction?
This is a pathetically unfair, and of course, will be felt throughout the economy.
Posted by .(JavaScript must be enabled to view this email address) on February 02, 2010 at 2142 hrs
That of course does not give you reason to stop bitching, just what you have to say makes us not have to listen.
I love petulance, especially from the mouths of whom history has proven wrong.
Am I opposed to all tax increases? Generally yes, and I’ll tell you why. Whether I am driving the streets of Sheboygan or Milwaukee the evidence of wasteful government spending in abound. Our governmental bodies have refused to save money for a rainy day, because they know that if they don’t spend every dollar collected in a given year there will be no justification to collect those unspent dollars the next year, and they do not have the logical reasoning power to explain to their constituents how necessary it is to build up a warchest, or a rainy day fund.
Our governmental bodies, Kieth, are not working “well” as you choose to put it. They are creating redundant programs to employ friends and family members (too many Milwaukee social services programs to name). They are taking jobs away from private sector employees (city and county road crews). They are overcharging the public for the services provided (MPS pays 74 cents on every dollar of salary in fringe benefits). They wring their hands any time there is an issue over which they feel they can gain more control over the lives of individuals (my town board is passing an ordinance to disallow the parking of campers outside for more than 2 months at a time). They feel justified in taking money, wherever they can find it (Sheboygan county board is trying to pass a .5% sales tax, because they feel the surrounding counties have an advantage in revenue collection, rather than seeing the lack of a sales tax as a business advantage that could be exploited).
You see Keith, paying taxes alone does not guarantee that government will work for us. It also requires a degree of oversight from “We the People”. You may wish to continue sending checks to anonymous faces who then do as they will with your money, but I demand a new level of accountability from government at all levels. Taxation in this country has gotten to perilously high levels, that is, if we wish to maintain a vibrant and innovative economy…. If we want our government to make sure that we all have the same health insurance, the same pay, and the same retirement benefits, then I guess, by all means….. Tax more.
Posted by .(JavaScript must be enabled to view this email address) on February 03, 2010 at 0644 hrs
But the real reason why the mature among us pay taxes is that we want government to work.
By the way, I’d love to see your data to support that the “responsible” among us pay taxes….. Are you saying that the family dad who works for $26K a year to take care of his wife and two kids is irresponsible, because he surely doesn’t pay any income tax, or are you just saying that he is less responsible than you because he doesn’t pay tax to the federal government?
Posted by .(JavaScript must be enabled to view this email address) on February 03, 2010 at 0648 hrs
edit: replace the word “responsible” in my post with “mature”. They infer the same meaning, but I don’t want to be accused of parsing words, or changing other peoples arguments to suit mine…
Posted by .(JavaScript must be enabled to view this email address) on February 03, 2010 at 0653 hrs
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