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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 OpportunityCost View Post
    You realize the regulatory burden cost on business is now the same as the tax burden right?

    When many companies are paying zero to very little in taxes, that is not surprising.
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    Re: Obama to call for middle class tax cut extension

    Quote Originally Posted by American View Post
    What the hell is Obama doing calling for a tax cut in the middle of a recession.
    "The only people who’d have to pay substantially more taxes under Obama’s proposal are those earning far in excess of $250,000. They aren’t small businesses. Nor are they in the vast middle class, whose purchases account for most consumer spending. They’re the fattest of corpulent felines. And their spending will not be affected if their official tax rate rises from the Bush 35 percent to the Bill Clinton 39.6 percent.

    In fact, most of these wealthy people’s income is unearned — capital gains and dividends that are now taxed at only 15 percent. If the Bush tax cuts expire on schedule, the capital gains rate would return to the same 20 percent it was under Bill Clinton.

    But what’s so bad about the Clinton tax rates anyway? I don’t remember the economy suffering under Bill Clinton. I was in Clinton’s Cabinet, so perhaps my memory is self-serving. But as I recall, the economy generated 22 million net new jobs during those years. Unemployment fell dramatically, and almost everyone’s income grew. Poverty dropped as the economy soared.

    In fact, the Clinton years generated the strongest and best economy we’ve had in anyone’s memory."

    Read more: Reich: Lies about tax hikes - Framingham, MA - The MetroWest Daily News
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    Re: Obama to call for middle class tax cut extension

    Quote Originally Posted by Catawba View Post
    "The only people who’d have to pay substantially more taxes under Obama’s proposal are those earning far in excess of $250,000. They aren’t small businesses. Nor are they in the vast middle class, whose purchases account for most consumer spending. They’re the fattest of corpulent felines. And their spending will not be affected if their official tax rate rises from the Bush 35 percent to the Bill Clinton 39.6 percent.

    In fact, most of these wealthy people’s income is unearned — capital gains and dividends that are now taxed at only 15 percent. If the Bush tax cuts expire on schedule, the capital gains rate would return to the same 20 percent it was under Bill Clinton.

    But what’s so bad about the Clinton tax rates anyway? I don’t remember the economy suffering under Bill Clinton. I was in Clinton’s Cabinet, so perhaps my memory is self-serving. But as I recall, the economy generated 22 million net new jobs during those years. Unemployment fell dramatically, and almost everyone’s income grew. Poverty dropped as the economy soared.

    In fact, the Clinton years generated the strongest and best economy we’ve had in anyone’s memory."

    Read more: Reich: Lies about tax hikes - Framingham, MA - The MetroWest Daily News
    That had a lot to do with the ENTIRE Clinton "budget" keeping federal spending at 19% of GDP, while Obama is spending at least 24% of GDP, which is about 20% MORE that Bush did, using the SAME "Obama" tax rates.
    Last edited by ttwtt78640; 08-01-12 at 04:53 PM.
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    Re: Obama to call for middle class tax cut extension

    Quote Originally Posted by ttwtt78640 View Post
    That had a lot to do with the ENTIRE Clinton "budget" keeping federal spending at 19% of GDP, while Obama is spending at least 24% of GDP, which is about 20% MORE that Bush did, using the SAME "Obama" tax rates.

    Most of that difference was due to our optional wars and excessive military spending began under the GOP administration.

    Which candidate ended the Iraq war, and which candidate said it was too soon to withdraw our troops? Which candidate has proposed cutting military spending, and which candidate has pledged to increase military spending?
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    Re: Obama to call for middle class tax cut extension

    the main purpose of the Obama tax hikes is to create more Us against them and to buy the vote of the many with the wealth of the few

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    Re: Obama to call for middle class tax cut extension

    Quote Originally Posted by TurtleDude View Post
    the main purpose of the Obama tax hikes is to create more Us against them and to buy the vote of the many with the wealth of the few
    So if I vote for Obama he will send me your trust fund payments?
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    Re: Obama to call for middle class tax cut extension

    Quote Originally Posted by Catawba View Post
    Most of that difference was due to our optional wars and excessive military spending began under the GOP administration.

    Which candidate ended the Iraq war, and which candidate said it was too soon to withdraw our troops? Which candidate has proposed cutting military spending, and which candidate has pledged to increase military spending?
    So where are these "savings"? What policy changes were ACTUALLY made? TALKING about stuff is not the same DOING stuff. Obama is indeed a fine talker, just not much of a doer. I am not comparing CANDIDATES and their promises, but the actual result of their GOVERNING. That is the HUGE Obama problem, he promised to cut the deficit in HALF, yet he DOUBLED it - that is what the outrage is all about. He talked of "shovel ready" JOBS and infrastructure yet that was only 6% of what he ACTUALLY spent money on. Talking about HOPE and CHANGE is the EASY part, actually getting the DC morons to do something DIFFERENT is the hard part.
    Last edited by ttwtt78640; 08-01-12 at 08:09 PM.
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    Therefore all progress depends on the unreasonable man.” ― George Bernard Shaw, Man and Superman

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    Re: Obama to call for middle class tax cut extension

    Quote Originally Posted by ttwtt78640 View Post
    So where are these "savings"? What policy changes were ACTUALLY made? TALKING about stuff is not the same DOING stuff. Obama is indeed a fine talker, just not much of a doer. I am not comparing CANDIDATES and their promises, but the actual result of their GOVERNING. That is the HUGE Obama problem, he promised to cut the deficit in HALF, yet he DOUBLED it - that is what the outrage is all about. He talked of "shovel ready" JOBS and infrastructure yet that was only 6% of what he ACTUALLY spent money on. Talking about HOPE and CHANGE is the EASY part, actually getting the DC morons to do something DIFFERENT is the hard part.
    Obama announces end of Iraq war, troops to return home by year end



    Romney Opposes Troop Withdrawal From Iraq


    "The chairman of the Senate Armed Services Committee on Tuesday said Republican candidate Mitt Romney doesn't know what he's talking about when he criticizes President Barack Obama's proposed cuts in defense spending and is putting himself at odds with the nation's military leaders.

    "He wants to attack the president as being weak on defense," said Sen. Carl Levin, D-Mich. "The problem with his position is it runs headlong into the uniformed leaders, uniformed military leaders of this country who say this is their budget."

    Defense Secretary Leon Panetta provided an early look at the broad outlines of the president's budget last Thursday. It slows the growth of military spending, cuts the size of the Army and Marine Corps, trims war costs and calls for another round of domestic base closings. The budget would total $525 billion for the Pentagon in 2013, $6 billion less than the current budget and a reflection of the deficit-cutting deal that Obama reached with congressional Republicans last August."

    Obama Military Spending Defended By Carl Levin

    Budget Experts Stumped By Romney’s Plan To Grow Military Spending While Cutting Revenue

    "Mitt Romney’s pledge to massively increase military spending — close to a $2 trillion increase over the next ten years and boosting the Pentagon’s base budget to 4 percent of GDP — combined with his promises to cuts taxes and reduce the national debt is leaving many national security and defense experts scratching their heads, particularly because the presumptive GOP presidential nominee has not said how he’d pay for it. "

    Budget Experts Stumped By Romney's Plan To Grow Military Spending While Cutting Revenue | ThinkProgress
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    Re: Obama to call for middle class tax cut extension

    Quote Originally Posted by TurtleDude View Post
    the main purpose of the Obama tax hikes is to create more Us against them and to buy the vote of the many with the wealth of the few
    As opposed to "the wealth of the few" directly buying the votes that count - those of Congress.
    Last edited by MoSurveyor; 08-02-12 at 07:47 AM.
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    Re: Obama to call for middle class tax cut extension

    Quote Originally Posted by ttwtt78640 View Post
    Talking about HOPE and CHANGE is the EASY part, actually getting the DC morons to do something DIFFERENT is the hard part.
    Negotiations with the Repos in Congress failed. The Tea Party's stance was "our way or no way" and enough Repos backed that play that that's what we all ended up with - nothing.
    Last edited by MoSurveyor; 08-02-12 at 07:53 AM.
    Mt. Rushmore: Three surveyors and some other guy.
    Life goes on within you and without you. -Harrison
    Hear the echoes of the centuries, Power isn't all that money buys. -Peart
    After you learn quantum mechanics you're never really the same again. -Weinberg

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