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Thread: Obama to propose $1.5 trillion in new tax revenue

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    Re: Obama to propose $1.5 trillion in new tax revenue

    Quote Originally Posted by Boo Radley View Post
    Why? There are reasons why lower level earns don't pay. Do you know what they are?
    Absolutely there is a reason so why aren't you addressing that reason instead of going after those already paying over 38% of the tax revenue? Obviously you never ran a business, never penalize your best customer by raising their prices while catering to those who aren't customers.

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    Re: Obama to propose $1.5 trillion in new tax revenue

    Quote Originally Posted by Boo Radley View Post
    Rasing it would be fair. As I have noted for you before, the wealthy benefit most from government. So, it is fair that they pay more. And that is not class warfare anymore than a customer who gets more service pays for more service.
    Really, the rich benefit more than those who aren't paying anything? If you aren't paying any taxes aren't you getting greater benefit than those who are paying something? Interesting logic on your part. How many rich people are benefiting from unemployment insurance? How many rich people benefited from those Obama tax cuts? How many rich people benefit from the Dept. of education? Just goes to show that you don't really have a clue about the funding for this govt. or the line items in that budget.

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    Re: Obama to propose $1.5 trillion in new tax revenue

    Quote Originally Posted by Conservative View Post
    Absolutely there is a reason so why aren't you addressing that reason instead of going after those already paying over 38% of the tax revenue? Obviously you never ran a business, never penalize your best customer by raising their prices while catering to those who aren't customers.
    Again, low income earners pay taxes. Plenty of taxes.

    It’s true that nearly half of Americans (46%) don’t have any federal income tax liability, but they pay other federal taxes, plus state and local sales and property taxes. In most states, Texas in particular, the progressivity of federal income taxes helps mitigate the regressivity of state and local taxes. (See America’s Tax System Is Not as Progressive as You Think.)

    Wisconsin Budget Project: Are Low-Income Households Paying Too Little in Taxes?

    You're either from or like Texas, right? Frome the same article:

    A short paper by Citizens for Tax Justice points out that the lowest earning fifth of Texans pay a higher percentage of their income for taxes than their counterparts in all but 4 other states. “In other words, Texas has the fifth highest taxes for low-income families.” Other analyses by the Institute for Taxation and Economic Policy (ITEP) in November 2008 show a marked contrast between the distribution of taxes in Texas and Wisconsin:
    •In Texas the top 1% of earners pay 3.3% of their income in state and local taxes, compared to 8.5% of income by the middle fifth of Texas taxpayers, and 12.2% of income by the bottom fifth.
    •Wisconsin’s tax distribution is much flatter, with the highest percentage contribution made by middle-income taxpayers. The top 1% of earners pay 8.0% of their income in state and local taxes, compared to 11.2% for the middle fifth, and 9.2% paid by the bottom fifth.

    AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.

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    Re: Obama to propose $1.5 trillion in new tax revenue

    Quote Originally Posted by Conservative View Post
    Really, the rich benefit more than those who aren't paying anything? If you aren't paying any taxes aren't you getting greater benefit than those who are paying something? Interesting logic on your part. How many rich people are benefiting from unemployment insurance? How many rich people benefited from those Obama tax cuts? How many rich people benefit from the Dept. of education? Just goes to show that you don't really have a clue about the funding for this govt. or the line items in that budget.
    As noted above, they are paying. But yes, the wealthy benefit more and this has been linked for you before.

    AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.

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    Re: Obama to propose $1.5 trillion in new tax revenue

    Quote Originally Posted by Boo Radley View Post
    Again, low income earners pay taxes. Plenty of taxes.

    It’s true that nearly half of Americans (46%) don’t have any federal income tax liability, but they pay other federal taxes, plus state and local sales and property taxes. In most states, Texas in particular, the progressivity of federal income taxes helps mitigate the regressivity of state and local taxes. (See America’s Tax System Is Not as Progressive as You Think.)

    Wisconsin Budget Project: Are Low-Income Households Paying Too Little in Taxes?

    You're either from or like Texas, right? Frome the same article:

    A short paper by Citizens for Tax Justice points out that the lowest earning fifth of Texans pay a higher percentage of their income for taxes than their counterparts in all but 4 other states. “In other words, Texas has the fifth highest taxes for low-income families.” Other analyses by the Institute for Taxation and Economic Policy (ITEP) in November 2008 show a marked contrast between the distribution of taxes in Texas and Wisconsin:
    •In Texas the top 1% of earners pay 3.3% of their income in state and local taxes, compared to 8.5% of income by the middle fifth of Texas taxpayers, and 12.2% of income by the bottom fifth.
    •Wisconsin’s tax distribution is much flatter, with the highest percentage contribution made by middle-income taxpayers. The top 1% of earners pay 8.0% of their income in state and local taxes, compared to 11.2% for the middle fifth, and 9.2% paid by the bottom fifth.
    What taxes paid at the state level fund the Federal Govt, which is what Obama is talking about, funding the Federal Govt. not the state govt. Try to stay on topic. If you want to discuss state taxes then start another thread

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    Re: Obama to propose $1.5 trillion in new tax revenue

    Quote Originally Posted by Boo Radley View Post
    As noted above, they are paying. But yes, the wealthy benefit more and this has been linked for you before.
    That is a lie, but keep saying it. Here are the line items of the Federal Budget, explain to me how the rich benefit more for each line item

    Defense 696.1
    International Affairs 45.2
    Gen. Science, Space 30.9
    Energy 11.5
    Natural resources/env 41,6
    Agriculture 23.2
    Commerce -82.9
    Transportation 92.5
    Community Dev 24.9
    Education/Train/Social 125.1
    Health 369.0
    Medicare 451.6
    Income Security 624.0
    Social Security 706.7
    Veterans Benefits 108.4
    Justice 55.2
    General Govt. 18.1
    Net Interest 196.9

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    Re: Obama to propose $1.5 trillion in new tax revenue

    Quote Originally Posted by Conservative View Post
    What taxes paid at the state level fund the Federal Govt, which is what Obama is talking about, funding the Federal Govt. not the state govt. Try to stay on topic. If you want to discuss state taxes then start another thread
    Do we ahve to go over the entire tax code for you? Read again:

    It’s true that nearly half of Americans (46%) don’t have any federal income tax liability, but they pay other federal taxes, plus state and local sales and property taxes. In most states, Texas in particular, the progressivity of federal income taxes helps mitigate the regressivity of state and local taxes. (See America’s Tax System Is Not as Progressive as You Think.)

    AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.

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    Re: Obama to propose $1.5 trillion in new tax revenue

    Quote Originally Posted by Conservative View Post
    The poor and many of the middle class are paying ZERO Federal Income taxes and that is the point.
    That's the point you're focusing on, yes. But the point of the thread is Obama wants to raise revenue to fund a jobs bill by increasing the income tax on the most wealthy of Americans. The wealthy are in a better position right now that the vast majority of Americans. If anyone can easily handle a small increase in income tax, it's the wealthy. Whining about how much the poor and middle class does not pay doesn't change the fact that they are the least able to deal with a tax increase at this time.
    If someone earns income in this country they should be paying something in FIT before raising the taxes on those paying the most. I am NOT in that top tax bracket but know the lack of fairness when I see it.
    Can the poor and middle class handle a tax increase right now? I say heck no! Right now, the poor and middle class are starving for jobs and thus the economy is stagnating due to a lack of demand.
    Who are you to tell someone else what they need or don't need?
    I'm an American with freedom of speech. You're free to disagree with what I say as I am able to do the same with what you say.
    Where is your outrage over how the trillions sent to the bureaucrats being wasted?
    Outrage isn't changing the fact that people need jobs and the best source to fund those jobs are the rich.
    A man without fear is a fool, a man that succumbs to his fear is a coward and a brave man acknowledges fear yet presses on.
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    Re: Obama to propose $1.5 trillion in new tax revenue

    Quote Originally Posted by Boo Radley View Post
    Do we ahve to go over the entire tax code for you? Read again:

    It’s true that nearly half of Americans (46%) don’t have any federal income tax liability, but they pay other federal taxes, plus state and local sales and property taxes. In most states, Texas in particular, the progressivity of federal income taxes helps mitigate the regressivity of state and local taxes. (See America’s Tax System Is Not as Progressive as You Think.)
    WHAT DOES ANY OF THAT HAVE TO DO WITH THE THREAD TOPIC? Is that what Obama is talking about when he is talking about raising the taxes on the rich and the rich paying their fair share? Keep ignoring posts that refute your opinion and keep posting information that diverts from the thread topic and what Obama is trying to do.

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    Re: Obama to propose $1.5 trillion in new tax revenue

    Quote Originally Posted by Tettsuo View Post
    That's the point you're focusing on, yes. But the point of the thread is Obama wants to raise revenue to fund a jobs bill by increasing the income tax on the most wealthy of Americans. The wealthy are in a better position right now that the vast majority of Americans. If anyone can easily handle a small increase in income tax, it's the wealthy. Whining about how much the poor and middle class does not pay doesn't change the fact that they are the least able to deal with a tax increase at this time.

    Can the poor and middle class handle a tax increase right now? I say heck no! Right now, the poor and middle class are starving for jobs and thus the economy is stagnating due to a lack of demand.

    I'm an American with freedom of speech. You're free to disagree with what I say as I am able to do the same with what you say.

    Outrage isn't changing the fact that people need jobs and the best source to fund those jobs are the rich.
    First of all Obama hasn't even submitted the bill to Congress.

    Second as I pointed out you don't go after the people paying the most taxes now if you want more revenue. Go after the 65 million INCOME earning Americans that aren't paying anything and put the 25 million unemployed and under employed back to work paying full taxes. Of course they can handle a small increase but why should they and how much will that generate to the Treasury?

    You think that penalizing the rich is going ot create more jobs?

    You continue to buy the Obama rhetoric and Obama continues to make a fool out of you.

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