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Obama: No Deal Without Tax Hikes

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People get obese when they cant afford to eat the best of foods...poor people eat STARCH....rice, pasta, patatoes....believe it or not turtledude this may startle you...most people in america cant afford lobster and porterhouse...

eating lobster and porterhouse is gonna make you fat pretty quickly

I didn't realize food stamps were good only for doughnuts and cheezeits
 
When the Deepwater Horizon drilling platform set off the worst oil spill at sea in American history, it was flying the flag of the Marshall Islands. Registering there allowed the rig’s owner to significantly reduce its American taxes.

The owner, Transocean, moved its corporate headquarters from Houston to the Cayman Islands in 1999 and then to Switzerland in 2008, maneuvers that also helped it avoid taxes.

At the same time, BP was reaping sizable tax benefits from leasing the rig. According to a letter sent in June to the Senate Finance Committee, the company used a tax break for the oil industry to write off 70 percent of the rent for Deepwater Horizon — a deduction of more than $225,000 a day since the lease began.

With federal officials now considering a new tax on petroleum production to pay for the cleanup, the industry is fighting the measure, warning that it will lead to job losses and higher gasoline prices, as well as an increased dependence on foreign oil.

But an examination of the American tax code indicates that oil production is among the most heavily subsidized businesses, with tax breaks available at virtually every stage of the exploration and extraction process.

According to the most recent study by the Congressional Budget Office, released in 2005, capital investments like oil field leases and drilling equipment are taxed at an effective rate of 9 percent, significantly lower than the overall rate of 25 percent for businesses in general and lower than virtually any other industry.



We can start here.

How is that a loophole?

And, why am I not surprised that you went straight to the oil and gas industry?

Why in the hell would we tax capital investments, anyway? That's just ****ing stupid!
 
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....and then he has the gall to accuse Republicans of being obstinate?

seven months ago Obama said that the last thing we wanted to do was raise taxes on a poor recovery, but now he thinks that we are doing So Awesome after the last jobs report that it won't effect us? I don't think so - he knows precisely the game he is playing. At least now we know for sure who's holding this whole thing up. Obama knows perfectly well that no package that includes tax hikes will pass the House. His insistence that they be included means he is delaying. Guess he really does want to use this to campaign on after all. Everyone get ready for Obama to start threatening Seniors.


President Barack Obama declared on Monday there would be no deal on raising the government's debt limit if Republicans won't compromise, and he said he would not sign a short-term extension — raising the stakes on volatile negotiations with the clock ticking toward an Aug. 2 deadline.

"I don't see a path to a deal if they don't budge. Period," the president said in a challenge to his political opponents, accusing Republicans of having a "my way or the highway" posture on taxes.... But Republican Boehner said that tax increases are a nonstarter: "The American people will not accept — and the House cannot pass — a bill that raises taxes on job creators."...

...Sunday's sometimes testy session was shorter than some had anticipated, and it's clear neither side is willing to budge on taxes. Democrats say tax increases are a prerequisite for big spending cuts; Republicans rule out the idea unless taxes are lowered elsewhere....

even before Obama was finished speaking, Republicans were disagreeing with his insistence that a deficit-trimming deal include cutbacks in tax breaks for the wealthy and some big corporations. While the news conference was under way, Boehner's office sent two emails to his news list saying tax hikes never should have been in the discussion.

The president warned that failure to reach agreement could create another recession and throw millions of Americans out of work, painting a picture of catastrophe if a partisan stalemate is not broken and Congress fails to act....​



yup. the President needs an economic narrative for 2012, and he's going to make himself one.


The teaparty has the ORDASITY to not only not want any tax increase on their rich greedsters they want mOAR tax cuts...like in the Ryan plan HUGE tax cuts and then they send out their cheerleaders to harp how we have to get rid of SS and medicare and Medicaid and food stamps ....damn these people that are unsucessful loafers like public workers who DO THEY THINK THEY ARE making a halfway decent living...I WANT mOAR....yanno cpwill this whole teaparty thing has gotten disgusting..
 
The teaparty has the ORDASITY to not only not want any tax increase on their rich greedsters they want mOAR tax cuts...like in the Ryan plan HUGE tax cuts and then they send out their cheerleaders to harp how we have to get rid of SS and medicare and Medicaid and food stamps ....damn these people that are unsucessful loafers like public workers who DO THEY THINK THEY ARE making a halfway decent living...I WANT mOAR....yanno cpwill this whole teaparty thing has gotten disgusting..

Show us where the Tea Party wants more tax cuts for rich folks. Thanks in advance.
 
How is that a loophole?

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16% advantage over the normal business. Bottom line is they need to continue leasing and drilling to continue to have a product to sell. Basic business. Why should we subsidize those and still continue to pay higher prices and watch them make record profits?
 
Frustrating as hell, isn't it? The real sad part of this, we have the government we deserve. Not the one we want, but the one we deserve. We have allowed this to happen by apathy and being easily distracted by shiny things.

I agree completely ... I guess the point I'm making it .. it has to stop .. with me cut the damn spending first ... show me it actually going to happen ... when that does .. then we can visit the tax revenue end of it ..... and yes in my humble opinion, we need to do both to tackle this mess we are in .. Just presently I'm against giving people that for the last 30 years have over spent no matter how much money they were given to work with .. My giving has been worn out ... I'm sick and tired of politics ... I want to see results "real" spending cuts ..
 
The teaparty has the ORDASITY to not only not want any tax increase on their rich greedsters they want mOAR tax cuts...like in the Ryan plan HUGE tax cuts and then they send out their cheerleaders to harp how we have to get rid of SS and medicare and Medicaid and food stamps ....damn these people that are unsucessful loafers like public workers who DO THEY THINK THEY ARE making a halfway decent living...I WANT mOAR....yanno cpwill this whole teaparty thing has gotten disgusting..

ordasity? why do people like you label anyone who is in the top 2% "greedsters"? They probably are why you have an artificially low federal income tax rate and true greed is demanding others pay more so you don't even have to pay for what you use.
 
Show us where the Tea Party wants more tax cuts for rich folks. Thanks in advance.


You might want to re-read that. not only not want
 
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16% advantage over the normal business. Bottom line is they need to continue leasing and drilling to continue to have a product to sell. Basic business. Why should we subsidize those and still continue to pay higher prices and watch them make record profits?

If they move their operations out of U.S. territorial waters, all together and go to a country with fewer over-reaching regulations and out of control taxes, what have you accomplished? Because, if that happens, you've done nothing but screw the United States out of jobs and tax revenue.

Ultimately, what sense does it make to tax a business on money that it re-invests? That's idiotic, to begin with.
 
this president is clueless

in other words, give him 5 minutes, he'll change his demands

his own lame duck passed the bush cuts for the rich, he had 59 senators and a house plurality of 78

the budget he published in february his own party rejected, 97 to 0

this debt ceiling deal---he wants the big one, he wants the small one, he wants to cut social security except he doesn't

tax all the millionaires and billionaires, ie, folks making 250k

but, no, most insistently---closing loopholes is NOT a tax

subsidies, what subsidies---spell em out, let's look at em

the depreciation of jet airplanes, 5 years or 7?

best selling authors?

but hey, we're no third world country, he'll veto any two-month, 3-month extension...

he leads from behind

just how much can you people take?

seeya in a week, he'll be talking like cuomo
 
If they move their operations out of U.S. territorial waters, all together and go to a country with fewer over-reaching regulations and out of control taxes, what have you accomplished? Because, if that happens, you've done nothing but screw the United States out of jobs and tax revenue.

Ultimately, what sense does it make to tax a business on money that it re-invests? That's idiotic, to begin with.

One place I would like to see taxes really raised is on companies that do leave here to avoid taxes and still reap the benefits. How is it going to end American jobs? We are (at least I am) talking primarily about domestic leases and drilling. If the big companies want to pull out and drop the leases, then fine. Others will be happy to pick them up and drill.

I worked in the Kansas oil patch for a while, believe me, plenty of companies want the leases, especially on land where no drilling is being done.
 
this president is clueless

in other words, give him 5 minutes, he'll change his demands

his own lame duck passed the bush cuts for the rich, he had 59 senators and a house plurality of 78

the budget he published in february his own party rejected, 97 to 0

this debt ceiling deal---he wants the big one, he wants the small one, he wants to cut social security except he doesn't

tax all the millionaires and billionaires, ie, folks making 250k

but, no, most insistently---closing loopholes is NOT a tax

subsidies, what subsidies---spell em out, let's look at em

the depreciation of jet airplanes, 5 years or 7?

best selling authors?

but hey, we're no third world country, he'll veto any two-month, 3-month extension...

he leads from behind

just how much can you people take?

seeya in a week, he'll be talking like cuomo

This post was much, much less coherent than Obama.
 
Question: Does anyone here actually agree with the wars we're currently fighting? Talk about spending cuts, that'd save us a bunch of cash.

Truth of the matter here is that entitlements are sucking us dry and can't last forever, regardless of what X politician tells us (except for Ron Paul, just about). We have to cut eventually, as we're on an unsustainable path.

But yeah, raising taxes, I believe, would do pretty much nothing. Raising taxes takes away that much more money from individuals and businesses, making it more difficult to put back into the economy. 70,000+ pages in tax code don't help, either.
 
talking like andrew cuomo:

"we have the worst business tax climate in the nation, period, our taxes are 66% higher than the national average"

"the costs of pensions are exploding... a 476% increase and its only getting worse"

"the state of new york spends too much money, it is that blunt and it is that simple"

"an unsustainable rate of growth and it has been for a long time"

"not only do we spend too much, but we get too little in return"

"the large government we have is all too often responsive to the special interests over the people"

"new yorkers are voting with their feet, two million new yorkers have left the state over the past decade"

"what does this say, it says we need radical reform, it says we need a new approach, we need a new perspective and we need it now"

"this is a fundamental realignment for the state"

"the old way wasn't working anyway, let's be honest"

"we want a government that puts the people first and not the special interests first"

"what made new york the empire state was a not a large government complex, it was a vibrant private sector that was creating great jobs"

"and that's what's going to make us the empire state again"

"at the heart of this state is business"

"we have to relearn the lesson our founders knew and we have to put up a sign that says new york is open for business, we get it, and this is going to be a business friendly state"

"we are going to have to confront the tax situation in our state, property taxes in this state are killing new yorkers, thirteen of the sixteen highest tax counties are in new york when assessed by home value"

"westchester county has the highest property taxes in the united states, nassau county has the second highest"

"it has to end, it has to end this year"

"we have to hold the line on taxes for now and reduce taxes in the future, new york has no future as the tax capital of the nation, our young people will not stay, our business will not come"

"put it simply, the people of this state simply cannot afford to pay any more taxes, period"

"we have to start with an emergency financial plan to stabilize our finances, we need to hold the line and we need to institute a wage freeze in the state of new york, we need to hold the line on taxes, we need a state spending cap and we need to close this $10 billion gap without any borrowing"

GOVERNOR ANDREW M. CUOMO STATE OF THE STATE ADDRESS | Governor Andrew M. Cuomo

in politics, we call that THE LAY OF THE LAND

in this case---NEW YORK
 
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16% advantage over the normal business. Bottom line is they need to continue leasing and drilling to continue to have a product to sell. Basic business. Why should we subsidize those and still continue to pay higher prices and watch them make record profits?

Getting past wether it is a loophole or not... How does raising the tax rate on the oil industry help with either of the things you are complaining about (higher prices and "record profits").
 
there's just not enough money in the galaxy

ie, if something isn't done NOW to fundamentally reform our big 3 federal programs, then social security and medicare and medicaid will simply cease to exist for our next generation

june 13: U.S. funding for future promises lags by trillions - USATODAY.com

The federal government's financial condition deteriorated rapidly last year, far beyond the $1.5 trillion in new debt taken on to finance the budget deficit, a USA TODAY analysis shows.

The government added $5.3 trillion in new financial obligations in 2010, largely for retirement programs such as Medicare and Social Security. That brings to a record $61.6 trillion the total of financial promises not paid for.

Medicare alone took on $1.8 trillion in new liabilities, more than the record deficit prompting heated debate between Congress and the White House over lifting the debt ceiling.

Social Security added $1.4 trillion in obligations, partly reflecting longer life expectancies. Federal and military retirement programs added more to the financial hole, too.
 
I find it ironic that everybody was giving him ****, saying he needed to take a stand. Strap on a pair. So he does, and everybody has the nerve to look surprised.
 
I find it ironic that everybody was giving him ****, saying he needed to take a stand. Strap on a pair. So he does, and everybody has the nerve to look surprised.

Too little too late.
 
Goodly grief he's practically giving the Republicans the bill they want on a silver platter. He's not even asking for tax cuts perse just closing some corporate jet loop holes and similar benign stuff. Republicans are stupid to argue with that. But what must have happened (why Bohnner changed his tune) was the figures must have been crunched finally and the conservatives now realize the big deal we wanted at first would have to include tada! Revenue raising! So that's why the smaller number now which even has some Republicans scratching their heads.
But yeah seriously, Bohner should take the deal as it stands.
 
Too little too late.

"Too little"? He has doubled the number the Republicans initially asked for.

This Congress sure isn't afraid to move the goal posts, consistency be damned.
 
It's amazing to hear Leftists compare Conservatives to Machiavelli. Plumb amazing!

Really? It's surprising to you?

I'd say 99% of our politicians could be described this way.
"Too little"? He has doubled the number the Republicans initially asked for.

This Congress sure isn't afraid to move the goal posts, consistency be damned.

Reality has a well-known liberal bias.
 
Really? It's surprising to you?

I'd say 99% of our politicians could be described this way.


Reality has a well-known liberal bias.

You don't know anything about Machiavelli, do you? :lamo
 
Really? It's surprising to you?

I'd say 99% of our politicians could be described this way.


Reality has a well-known liberal bias.

In a classical sense, yes. In terms of modern Progressivism, no.

One needs to learn the difference between Classical Liberalism and Progressivism. They are two very different things.
 
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