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Thread: Obama to call for middle class tax cut extension

  1. #141
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    Re: Obama to call for middle class tax cut extension

    Quote Originally Posted by Arbo View Post
    Do you know all the tax increases and changes to the tax code that will effect most people? Or are you just getting your news from msnbc?
    OK... let's deal in facts. Yes, there is a surcharge on incomes over $200K on medicare; a luxury tax on high value plans and the penalty for not following the mandate, the latter of which is expected to contribute about $7B per year (chicken feed by Fed standards). On the offset, there will be tax credits to employers to help subsidize the provision of health benefits for their employees. Most of these taxes kick in latter part of the decade. Yes, there is a tax increase component to this, but 1) not much and 2) offset by the $120B saved in our health care system for providing extremely expensive emergency care services to the indigent and others that can not pay, 75% of which is paid by the federal government, with about $40B absorbed into private insurance costing the average family over $1,000 per year.

    According to the CBO, the ACA is expected to cost $928B over 10 years, but in the process reduce the budget deficit by $138B over the same period.

    The most important tax increase in ‘Obamacare’
    Health Care Reform News - The New York Times
    Unpaid hospital tab $49B each year - USATODAY.com
    Unpaid care hikes private insurance premiums by billions - amednews.com

    So, yes, there is an element of taxation to this; but it is a tax that has very tangible savings and on a net-net basis, puts the government and its citizens on much sounder financial and personal wellness foundation.

  2. #142
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    Re: Obama to call for middle class tax cut extension

    So the answer to the question is you do not know all the new taxes and tax changes that will effect many people.
    "nah i think the way cons want to turn this into a political issue is funny though" - Philly Boss

  3. #143
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    Re: Obama to call for middle class tax cut extension

    Quote Originally Posted by Arbo View Post
    So the answer to the question is you do not know all the new taxes and tax changes that will effect many people.
    Perhaps instead of your vague assertion you might add some intelligence to the conversation by telling us what the h you are talking about. This says nothing. You made the original assertion this was a huge tax increase, but you seem to be unable to substantiate your claim. I, OTH, gave you a ton of references, which you could at least read and provide some intelligent commentary or retort.

    Sorry, but you seemingly have proven my original assertion that you get your news from some right wing talking head and really have no comprehension of what they are saying, you can only recite the mantra.

    Let me help you: its hardly the major tax increase you purport it to be... and it is a deficit reducer, so to the extent there are taxes involved, it has a clear payback.
    Last edited by upsideguy; 07-14-12 at 01:40 AM.

  4. #144
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    Re: Obama to call for middle class tax cut extension

    It is funny to watch people rant and spin to cover their own ignorance on the topic. It really shouldn't be that hard for you to find out that other than the 'penalty' for not having insurance, there are several other tax items and changes in the whole of the ACA bill. I understand that it is easier for you to just throw a fit than to do a little digging. Unfortunately that's true for most Americans.

    I'm betting the long term outcome you see for the ACA is just as short sighted and guided by ignorance. Doctors are already looking into 'getting out', larger hospitals are buying out smaller practices to ensure referrals go to them rather than a smaller competing hospital down the road. This of course effects income to the smaller hospitals, and employees are already fearing the security of their jobs. This is real life crap, and real consequences of BAD legislation. I see it every day.
    "nah i think the way cons want to turn this into a political issue is funny though" - Philly Boss

  5. #145
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    Re: Obama to call for middle class tax cut extension

    Quote Originally Posted by upsideguy View Post
    According to the CBO, the ACA is expected to cost $928B over 10 years, but in the process reduce the budget deficit by $138B over the same period.
    that is no longer true, as we move closer and closer to the dates of actual implementation. For ten years of actual Obamacare the costs are a shade under three times that, and the deficit explodes.

  6. #146
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    Re: Obama to call for middle class tax cut extension

    The deficit hasn't explored yet? I mean like a long friggin time ago? Damn where have these budget hawks been?

    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 call for middle class tax cut extension

    Quote Originally Posted by Boo Radley View Post
    The deficit hasn't explored yet? I mean like a long friggin time ago? Damn where have these budget hawks been?
    Who cares about the past? Will caring about the past solve the problems of today...and tomorrow? I think not.

    Sure, the deficit has exploded...and it'll keep on exploding unless something is done now. Here are a few things we can do:

    1. Get rid of Obamacare before it has a chance to really harm the country.
    2. Keep taxes stable so as to generate confidence in the business and consumer arenas.
    3. And most importantly, reduce the size, scope and control of the Federal Government. We MUST reduce spending!!
    TANSTAAFL

    “An armed society is a polite society.”
    ― Robert A. Heinlein, Beyond This Horizon

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    Re: Obama to call for middle class tax cut extension

    Quote Originally Posted by Catawba View Post
    I would think middle class tax cuts would be something both sides could agree with.

    In normal times it would be a no brainer...today however, with the Grover Norquist and the Paul Ryans and the teaparty in general, anything more than tax cuts for just the rich are filthy treasonous unconstitutional words. The name of the far right game is take pensions and health benefits from private and public workers, lower their pay...cut social security and medicare, repeal obamacare and give huge tax breaks to the rich individuals and corporations that do not pay anywhere near what they are supposed to anyway an in alot of cases pay NOTHING...all while they outsource every middleclass job they can...and
    Thats the reason Romny isnt 10 full points ahead of obama with the economy in the toilet like it is....Recent Rasmussen poll shows the teaparty is viewed unfavorably by most of the country...Gallup Poll shows the teaparty even LESS popular. The new far right teaparty house of representatives are at the lowest approval rating of any congress session ever....they have not only accomplished NOTHING....they have caused more harm

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    Re: Obama to call for middle class tax cut extension

    How beneficent of Obama to offer not to raise my taxes for a whole 'nother year in return for which he only demands that I agree to enable him to permanently raise taxes on others.

  10. #150
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    Re: Obama to call for middle class tax cut extension

    Quote Originally Posted by lpast View Post
    In normal times it would be a no brainer...today however, with the Grover Norquist and the Paul Ryans and the teaparty in general, anything more than tax cuts for just the rich are filthy treasonous unconstitutional words. The name of the far right game is take pensions and health benefits from private and public workers, lower their pay...cut social security and medicare, repeal obamacare and give huge tax breaks to the rich individuals and corporations that do not pay anywhere near what they are supposed to anyway an in alot of cases pay NOTHING...all while they outsource every middleclass job they can...and
    Thats the reason Romny isnt 10 full points ahead of obama with the economy in the toilet like it is....Recent Rasmussen poll shows the teaparty is viewed unfavorably by most of the country...Gallup Poll shows the teaparty even LESS popular. The new far right teaparty house of representatives are at the lowest approval rating of any congress session ever....they have not only accomplished NOTHING....they have caused more harm
    Well, you've managed to hit just about every liberal talking point in your screed...and you managed to inject a fair amount of hyperbole, as well.

    Good job.
    TANSTAAFL

    “An armed society is a polite society.”
    ― Robert A. Heinlein, Beyond This Horizon

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