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Thread: Obama to call for middle class tax cut extension

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    Re: Obama to call for middle class tax cut extension

    Quote Originally Posted by Thunder View Post
    asking the wealthiest Americans to have their tax rate increased by 3%, isn't "punishment".

    they will still be able to buy their fancy cars, yachst, tanning beds, and Yankees box-seats.

    infact, there is no evidence whatsoever that not extending their current tax-rates, would effect their spending one bit.
    But does it treat all Americans equally under the tax laws? Nope. I wouldn't be so against it if someone simplified the tax code, made everyone pretty much equal in the percent they pay and didn't spend so much of it giving benefits to stupid people to midigate them having to live or die with their own choices. Perhaps if I quit seeing comercials to give these morons cell phones at pretty much no cost and see some progress made in making them actually earn what they get, then, if spending was still too high, I could possibly support higher Taxes. But, even then, it should be distributed equally, based upon percentage, not targeted at a specific group of Americans.

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    Re: Obama to call for middle class tax cut extension

    Quote Originally Posted by lpast View Post
    Finally Someone trying to do something for the class that carries this country, in WARS and economically by doing the LABOR and actual WORK...that produces our economy.
    Its refreshing to have someone care about those that really need a break and not just slobbering all over themselves sniveling about how very bad the 1% that has 99% has it....
    You know, it occurs to me. Are you aware as you write this that Romney has called for even greater tax breaks for the middle class than Obama has? Or are you just copy/pasting whatever rant your union sent you?

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    Re: Obama to call for middle class tax cut extension

    Quote Originally Posted by cpwill View Post
    You know, it occurs to me. Are you aware as you write this that Romney has called for even greater tax breaks for the middle class than Obama has? Or are you just copy/pasting whatever rant your union sent you?
    You mean this ...
    The Obama campaign has criticized Romney for not saying how he would offset the cost of the tax rate cuts.
    “He refuses to say how he’d pay for that massive tax cut for the wealthy, which means he’s either exploding the deficit or, according to independent analysts, raising taxes on the middle class by closing tax breaks for mortgages, health care, retirement and other benefits the middle class rely on,” Ben LaBolt, an Obama campaign spokesman, said in a statement July 9.
    Romney-Style Plan Means Sharp Tax-Break Cuts, Study Says - Bloomberg


    Doesn't do much good to lower the percent for the middle class if home mortgage interest and health insurance starts getting taxed and drives the actual Fed tax even higher than it is.
    Last edited by MoSurveyor; 07-22-12 at 08:52 AM.
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    Re: Obama to call for middle class tax cut extension

    actually the "massive" portion of those tax cuts are the ones going to the middle class - that, after all, is where the money is and the majority of the middle class take the standard deduction. it's the rich that see larger returns from the mortgage interest deduction.

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    Re: Obama to call for middle class tax cut extension


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    Re: Obama to call for middle class tax cut extension

    Quote Originally Posted by cpwill View Post
    Right now, with the housing industry in it's current position, that's a VERY poor stance to take. If anything the housing industry could use a little help right now.
    Mt. Rushmore: Three surveyors and some other guy.
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    Re: Obama to call for middle class tax cut extension

    Quote Originally Posted by cpwill View Post
    actually the "massive" portion of those tax cuts are the ones going to the middle class - that, after all, is where the money is and the majority of the middle class take the standard deduction. it's the rich that see larger returns from the mortgage interest deduction.
    And where would the rest be made up??? Are you going to try to convince me that Romney will be taxing his millionaire buddies at a higher rate?



    PS
    And what about health care premiums keeping their tax exempt status?
    Last edited by MoSurveyor; 07-22-12 at 09:10 AM.
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    Re: Obama to call for middle class tax cut extension

    Quote Originally Posted by MoSurveyor View Post
    Right now, with the housing industry in it's current position, that's a VERY poor stance to take
    politically? it might be easy to demagogue, but rather easy to answer. Why should the rest of us subsidize the wealthy having an apartment in New York City and a house down in Florida?

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    Re: Obama to call for middle class tax cut extension

    Quote Originally Posted by MoSurveyor View Post
    And where would the rest be made up??? Are you going to try to convince me that Romney will be taxing his millionaire buddies at a higher rate?
    some of them might end up paying higher effective rates, but likely the majority of them (like the majority of all Americans) would have a lower effective rate.

    And what about health care premiums keeping their tax exempt status?
    the tax-exempt status of employer purchased healthcare is the main reason we see double-digit inflation year after year in that industry, and is the primary reason why middle class wages have been depressed off of their compensatory growth for the past couple of decades. It is long since past time we slayed that monstrous unintended consequence of FDR's wage controls.

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    Re: Obama to call for middle class tax cut extension

    Quote Originally Posted by cpwill View Post
    politically? it might be easy to demagogue, but rather easy to answer. Why should the rest of us subsidize the wealthy having an apartment in New York City and a house down in Florida?
    You want REAL job creation instead of political bullchit? Get the housing industry back on track. Romney will be subsidizing the rich bastards anyway - we may as well make sure some Americans get employed with that money.
    Last edited by MoSurveyor; 07-22-12 at 09:28 AM.
    Mt. Rushmore: Three surveyors and some other guy.
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    Hear the echoes of the centuries, Power isn't all that money buys. -Peart
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