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Thread: Obama to call for new tax increases in State of the Union address

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    Re: Obama to call for new tax increases in State of the Union address

    Quote Originally Posted by imagep View Post
    I really don't think that active discussion of tax policy is harmful to our economy, although down-talking the economy to gain political power can be.

    Like Obamacare for instance, it's effectively neutral to our macroeconomy (some people are a little better off, others are harmed just a tad, they factor each other out), but I would think that people who have been claiming that Obamacare is going to destroy our economy have themselves caused a certain amount of economic harm by making such claims (and thus retarding consumer spending and business expansion due to the fear factor).


    You didn't just blame people who don't like Obamacare for harming the economy did you?

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    Re: Obama to call for new tax increases in State of the Union address

    Quote Originally Posted by ocean515 View Post
    My understanding is that is not how it's going to work. If you are a beneficiary of estate, regardless of your income status, you will be required to pay capital gains taxes on the cost differential at the time of death, rather than when you dispose of the asset. That means that some people will be forced to sell assets in order to pay capital gains taxes, even though they had no plans to dispose of the assets.

    What an outrageous POS proposal.
    Don't get too worked up. Obama is just trying to get his polling numbers out of the basement so he's going to be making all kinds of promises and blowing all kinds of pinko dog whistles. All that barking you hear in response is just dogs doing what dogs do. The house and senate are going to bend him over and shove his proposals right back where he got them from.
    You can't reason anyone out of a position they didn't reason themselves into in the first place.

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    Re: Obama to call for new tax increases in State of the Union address

    Quote Originally Posted by disneydude View Post
    Minimum Wage Workers in Texas ? 2013 : Southwest Information Office : U.S. Bureau of Labor Statistics
    Texas-Size Recovery

    "Fact: Texas along with Mississippi has the highest percentage of workers at or below the minimum wage, according to BLS data"


    Damn those pesky facts getting in the way of your attempts to dance and shuffle around Con!

    Yep, continue to distort and try to divert. I was wrong, the latest number of Californians making minimum wage is 2.4 million which of course is much less than the 500,000 Texans. Interesting how you cannot seem to comprehend that reality and no matter how many times you make the statement that Texas has more people on Minimum wage than California it remains a lie.

    Now back to the topic, please tell me exactly how some rich person kept you from becoming rich and how 32 billion dollars per year is going to help pay for the current 500 billion debt each year?

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    Re: Obama to call for new tax increases in State of the Union address

    Quote Originally Posted by Declan View Post
    Most of this money is made off overseas and is untaxed in the US profits so just think of it as a windfall tax. Close the offshoring of IP then maybe I will be willing to give your vodoo doll a poke.
    Since we have a labor force of 157 million with 147 million working how many of them are hiding their profits overseas? You seem to think like govt. bureaucrats that businesses are charities. They aren't and are in business to make a profit which is used to hire and pay employees and as in large corporations pay their shareholders many of whom are seniors. Thank God for investment income and those profits or more and more seniors would be living totally on SS

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    Re: Obama to call for new tax increases in State of the Union address

    Quote Originally Posted by SocialDemocrat View Post
    Bit of a shame that capital gains will still be taxed less than regular income under this proposal.
    Which is why we need to eliminate capital gains taxes and simply have the money declared as income and tax it according to the normal schedules. They should do the exact same thing with transfers of wealth also from one person to another. No estate tax or inheritance taxes - just consider it all as income and tax it according to the normal schedules.
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    Re: Obama to call for new tax increases in State of the Union address

    Quote Originally Posted by iguanaman View Post
    It does not matter if the pie gets bigger when the wealthy are getting a larger and larger piece of it. Their % of the economy keeps growing. it is unsustainable.
    So what? Still waiting for an answer, how has any rich person prevented you from joining them? There is plenty of room at the top, but the govt. isn't going to get you there.

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    Re: Obama to call for new tax increases in State of the Union address

    Quote Originally Posted by disneydude View Post
    It doesn't remove it from the economy. Just the opposite. It puts the money back into the economy. Think of it as the opposite of "Trickle Down". Its trickle up economics. Put the money in the hands of the working and middle class and they are likely to put it back into the economy.
    ..

    taxing , at the federal level, removes the money from the economy.

    Tax revenues from the rich are not transferred to the poor or middle class in any shape ,form ,or fashion.

    If Obamas desire is for the middle class to keep more of their money in the economy, he simply needs to cut their taxes...
    cutting the tax on the middle class I get...but I'm not understanding what he thinks the benefit of raising the taxes on the rich is supposed to be....economically speaking, his actions make no sense.

    Politically speaking, I get it...but econonically?...nope..no sense at all.

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    Re: Obama to call for new tax increases in State of the Union address

    Quote Originally Posted by Papa bull View Post
    Don't get too worked up. Obama is just trying to get his polling numbers out of the basement so he's going to be making all kinds of promises and blowing all kinds of pinko dog whistles. All that barking you hear in response is just dogs doing what dogs do. The house and senate are going to bend him over and shove his proposals right back where he got them from.
    Thanks for the advice PB. I'm actually not too worked up over it, for the reasons you stated.

    However, the checks we have to balance against these outrageous proposals are but for a brief period of time, and the class envy sabre will be swinging at blurring speeds over the next two years as posturing takes place in preparation for the next Presidential/Congressional election cycle. Knowing they don't stand a chance now shouldn't lull anyone into thinking they aren't going to be scoring points with people who buy into their bogus message. As such, I think it imperative to use these bogus proposals to expose the messengers for who and what they are.

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    Re: Obama to call for new tax increases in State of the Union address

    Quote Originally Posted by iguanaman View Post
    You ignored my question and went back to your same old rant. I'll try one more time. How would Bill Gates have gotten rich without a middle class with the money to buy his products? It does not matter how much someone wants an item if he cannot afford to BUY it. It is the middle class that is failing not the wealthy.
    Bill Gates started with nothing, developed a product that people wanted and people purchased from the money they earned on their jobs or do you think the govt. gave them the money to buy Microsoft products? You like far too many are just envious of anyone who has more than you have and expects the govt. to even things out for you. That is never going to happen. Now answer the question, how did Bill Gates or any other rich person prevent you from joining them?

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    Re: Obama to call for new tax increases in State of the Union address

    Quote Originally Posted by Conservative View Post
    So what? Still waiting for an answer, how has any rich person prevented you from joining them? There is plenty of room at the top, but the govt. isn't going to get you there.
    One way, often used, is by helping to pass (lobbying for) laws that make competition much more difficult. It is no problem for a mega corporation to devote thousands (if not millions) to getting "compliance" laws passed that only a large business can possibly afford to meet.
    The reasonable man adapts himself to the world: the unreasonable one persists to adapt the world to himself.
    Therefore all progress depends on the unreasonable man. ― George Bernard Shaw, Man and Superman

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