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Thread: Senate Democrats to scrap Obama's $400 tax credit

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    Re: Senate Democrats to scrap Obama's $400 tax credit

    Zyphlin posted(Thank you Barak Obama, you've TRULY brought CHANGE to Politics as Usual.)

    And the amazing thing about this is because a Lawyer (who is extremely proficient with language as well as the technical ability to persuade people that this time it will be different) gives the message "Change---Something we can believe in" an alarming number of people are stupid enough to believe it.

    A Politician is always a liar, else one would never be elected.
    A Lawyer uses words to bend peoples perception of the actuality of life to his/her way of thinking.
    In a way they are very similar to Advertisers.
    Do Americans trust Lawyers?
    Seemingly the answer is a resounding YES.
    The electorate has it in their remit to change politics, they will never unite to do it.

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    Re: Senate Democrats to scrap Obama's $400 tax credit

    Remember Bush 1 he said read my lips that he would not raise taxes in his campaign then raised them.That was good for 1 term,the next election the people dumped him.

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    Re: Senate Democrats to scrap Obama's $400 tax credit

    Quote Originally Posted by Kandahar View Post
    What makes you think that the two-time stimulus payment was what he had in mind when he offered tax cuts to the middle class? He was talking about middle-class tax cuts even BEFORE the economy imploded last fall.

    It sounds to me like two completely different policy items. The fact that he's doing one does not preclude him from also doing the other.
    I'm assuming that "A top Democrat in the Senate announced a budget blueprint Tuesday that would scrap Barack Obama's signature tax cut after 2010" means that he's not doing the latter.
    People sleep peaceably in their beds at night only because rough men stand ready to do violence on their behalf.

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    Re: Senate Democrats to scrap Obama's $400 tax credit

    Quote Originally Posted by RightinNYC View Post
    I'm assuming that "A top Democrat in the Senate announced a budget blueprint Tuesday that would scrap Barack Obama's signature tax cut after 2010" means that he's not doing the latter.
    Considering Obama does not yet even HAVE a signature tax cut to scrap, that sounds more like ****ty reporting than a renunciation of a campaign promise.
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    Re: Senate Democrats to scrap Obama's $400 tax credit

    Quote Originally Posted by Kandahar View Post
    Considering Obama does not yet even HAVE a signature tax cut to scrap, that sounds more like ****ty reporting than a renunciation of a campaign promise.
    ? I don't think there's that much more to it.

    He campaigned on a promise to cut taxes for 95% of families.
    The way in which that was going to happen was via his "Making Work Pay" tax credit.
    The tax credit was supposed to be included in the budget.
    The tax credit was cut from the budget, with no indication that it will be restored.

    I'm not saying that he called up Harry Reid and told him to cut it, I'm just saying that as it stands, he will not be cutting taxes for 95% of families as was promised.

    If he somehow manages to convince Reid to add it back in, or if he says "hey guys, things are tight, we'll add it back next year" and then does, then by all means, I'll update this. I just don't see either of those happening.
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    Re: Senate Democrats to scrap Obama's $400 tax credit

    Quote Originally Posted by RightinNYC View Post
    Senate Democrats to scrap Obama's $400 tax credit



    So "cut taxes for 95% of Americans" actually meant "two-time stimulus payments for something more like 80% of Americans before we allow that and the Bush tax cuts to expire, thus raising taxes on the majority of people."

    Hm.
    I had to LMAO at this one: Chairman Kent Conrad, D-N.D., promises to reduce the deficit from a projected $1.7 trillion this year to a still-high $508 billion in 2014

    By the way, who in here really thinks the Dems can get the cuts they need through efficiency and eliminating Government waste?

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    Re: Senate Democrats to scrap Obama's $400 tax credit

    Quote Originally Posted by rudedog View Post
    Remember Bush 1 he said read my lips that he would not raise taxes in his campaign then raised them.That was good for 1 term,the next election the people dumped him.
    There's more to the story too. He was dealing with a Democrat Congress that forced him to go back on his words.

    It was unfortunate that after he lost the election, his predecessor did just that again, raised taxes. It is ironic that Democrats seem to get away with the indefensible and are very good at pinning the blame in the citizenís minds that it's the Republicans fault.

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    Re: Senate Democrats to scrap Obama's $400 tax credit

    Quote Originally Posted by Kandahar View Post
    So no tax cut is ever good unless it's permanent? Really, there's no way that Obama can win with some people unless he just abolishes all taxes and dissolves the country into anarchy...
    That is not the point; tax cuts are great in my opinion when NOT accompanied by careless Government spending and are across the board and meaningful.

    But it is the epitome of irresponsibility to pass $1.7 trillion in spending deficits without an HONEST open debate about how to pay for it all.

    Quote Originally Posted by Kandahar View Post
    The stimulus tax credits are designed to spur the economy during a severe recession and are not intended to be permanent, hence the expiration date. Bush's tax cut was designed to do, well, I'm not quite sure what...but that also was not intended to be permanent, hence the expiration date.
    These tax credits will do NOTHING to spur spending. Do yuo honestly think that giving people what amounts to less than $100 a month will somehow miraculously spur economic growth?

    Quote Originally Posted by Kandahar View Post
    That does not preclude Obama or Congress from altering the tax code again when the Bush tax cuts expire. They tinker with the tax code nearly every year anyway. I would expect to see some tax cuts for the non-wealthy in the tax code after 2010.
    Tax cuts for the "non-wealthy" are a waste of time and effort because the "non-wealthy" pay little or nothing in taxes and spend little or nothing on goods and invest little or nothing in the economy.

    This is emotional populist pabulum spewed to the masses of ignorant to appeal to the sense of goodness thus permitting an irresponsible level deficit spending and vast expanses of Government intrusion into almost every facet of our lives.

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    Re: Senate Democrats to scrap Obama's $400 tax credit

    Quote Originally Posted by RightinNYC View Post
    He campaigned on a promise to cut taxes for 95% of families.
    The way in which that was going to happen was via his "Making Work Pay" tax credit.
    No, the way in which it was going to happen was via an income tax rate cut.

    Quote Originally Posted by RightinNYC
    The tax credit was supposed to be included in the budget.
    Perhaps I'm wrong about this, but I don't even remember him campaigning on this Making Work Pay thing. As far as I know, that was solely a response to the financial crisis and was formulated entirely AFTER the election. And from everything I can find about this issue, I don't see any indication that it was ever supposed to be permanent in the first place.

    Quote Originally Posted by RightinNYC
    The tax credit was cut from the budget, with no indication that it will be restored.
    That does not preclude Obama and Congress from altering the income tax rates. In fact, they almost certainly will.

    Quote Originally Posted by RightinNYC
    I'm not saying that he called up Harry Reid and told him to cut it, I'm just saying that as it stands, he will not be cutting taxes for 95% of families as was promised.
    Chillax. He's been in office for two months.

    Quote Originally Posted by RightinNYC
    If he somehow manages to convince Reid to add it back in, or if he says "hey guys, things are tight, we'll add it back next year" and then does, then by all means, I'll update this. I just don't see either of those happening.
    The purpose of an economic stimulus is to stimulate the economy. If he wants to add a tax credit as an economic stimulus, it wouldn't make sense to wait until next year when the economy will likely be better.
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    Re: Senate Democrats to scrap Obama's $400 tax credit

    Quote Originally Posted by Kandahar View Post
    No, the way in which it was going to happen was via an income tax rate cut.

    Perhaps I'm wrong about this, but I don't even remember him campaigning on this Making Work Pay thing. As far as I know, that was solely a response to the financial crisis and was formulated entirely AFTER the election. And from everything I can find about this issue, I don't see any indication that it was ever supposed to be permanent in the first place.

    That does not preclude Obama and Congress from altering the income tax rates. In fact, they almost certainly will.

    Chillax. He's been in office for two months

    The purpose of an economic stimulus is to stimulate the economy. If he wants to add a tax credit as an economic stimulus, it wouldn't make sense to wait until next year when the economy will likely be better.
    The Making Work Pay Tax Cut was the cornerstone of his campaign promise to cut taxes. It's not some new stimulus proposal.

    From his campaign website:

    Obamaís Comprehensive Tax Policy Plan for America will:

    * Cut taxes for 95 percent of workers and their families with a tax cut of $500 for workers or $1,000 for working couples.
    People sleep peaceably in their beds at night only because rough men stand ready to do violence on their behalf.

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