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Thread: Obama budget resurrects rejected tax increases

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    Re: Obama budget resurrects rejected tax increases

    Quote Originally Posted by CriticalThought View Post
    Where the hell did you get the $70 billion figure?
    The administration. They said extending the bush cuts would cost $700 billion over 10 years = $70 billion/year.

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    Re: Obama budget resurrects rejected tax increases

    Quote Originally Posted by ptif219 View Post
    So Obama is trying to get tax increases that already failed. Shows how incompetent he is.

    Obama budget resurrects rejected tax increases - Yahoo! News

    President Barack Obama's budget proposal resurrects a series of tax increases that were largely ignored by Congress when Democrats controlled both chambers. Republicans, who now control the House, are signaling they will be even less receptive.

    The plan unveiled Monday includes tax increases for oil, gas and coal producers, investment managers and U.S.-based multinational corporations. The plan would allow Bush-era tax cuts to expire at the end of 2012 for individuals making more than $200,000 and married couples making more than $250,000. Wealthy taxpayers would have their itemized deductions limited, including deductions for mortgage interest, charitable contributions and state and local taxes.

    "These policies were unfair and unaffordable when enacted and remain so today," Obama said in his budget message.
    You know what I think is incompetent? Continuing to give tax breaks to the rich while claiming that you want to balance the budget. Republicans have admitted they do not have a plan to balance the budget yet (Paul Ryan has admitted this), and yet they will not raise taxes. They don't want to cut Defense spending. Cutting medicare/medicaid has proven to be very difficult, especially since it was already trimmed and overhauled during the new Health Care bill that just passed. That leaves non defense discretionary spending - a category that gets picked on every time the budget comes up. Because of this, non defense discretionary spending already runs fairly efficiently and smoothly. There is not much to cut.

    So how do you balance a budget when you can't cut anything and you can't raise taxes? That's incompetent.

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    Re: Obama budget resurrects rejected tax increases

    Quote Originally Posted by Catawba View Post
    What do you mean that the tax cuts for the rich depend on the economy getting better?
    Obama budget claiming to paydown deficit depends on Economy getting better

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    Re: Obama budget resurrects rejected tax increases

    Quote Originally Posted by upsideguy View Post
    Actually, the GOP mandate was to fix the economy.... the idea of repealing healthcare was a minority position, even on election day.

    A Clear Rejection of the Status Quo, No Consensus about Future Policies - Pew Research Center

    BTW... what steps have the Republicans taken to fulfill their mandate since their election?
    Thats odd since I remember hearing campaign promises of repealing Obamacare

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    Re: Obama budget resurrects rejected tax increases

    Quote Originally Posted by Troubadour View Post
    The failure to renew a tax cut with a sunset provision is not a "tax increase," it's the continuation of current law. Please reflect this fact in future statements, so as to be more accurate.



    Supporting current tax policy in order to deal with a massive revenue shortage is "incompetent"? See, I would be more likely to say that the people trying to eviscerate the budget and cut taxes in the middle of a revenue shortage were the incompetent ones, but perhaps incompetence isn't even the right word for Republican politics: More like corruption.



    Good. It's important that Republican priorities be on full display. The American people are being asked to sacrifice with smaller budgets, and are then being told that people who make 6,000 times more than they do should get tax cuts and contribute even less to the nation. What the Republican Party thinks of the American people is abundantly clear.



    Good. This would slightly defray the enormous external costs they impose on the economy.



    Oh no! The poor, poor wealthy! How can Obama victimize them like this???



    Thank you, President Obama. I would have been a lot less diplomatic, but I'm glad we have a President who is so amiable toward people who give no consideration in return.
    Tax cuts that expire increase taxes no other way to look at it. All I see Obama doing is spendind and helping unions and grow the government. This is a sure way to destroy this country

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    Re: Obama budget resurrects rejected tax increases

    Quote Originally Posted by Boo Radley View Post
    Let me know when that happens. Hell, let me know when a majority of Americans call for that.
    The majority is calling for cut spending the election showed that

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    Re: Obama budget resurrects rejected tax increases

    Quote Originally Posted by whysoserious View Post
    You know what I think is incompetent? Continuing to give tax breaks to the rich while claiming that you want to balance the budget. Republicans have admitted they do not have a plan to balance the budget yet (Paul Ryan has admitted this), and yet they will not raise taxes. They don't want to cut Defense spending. Cutting medicare/medicaid has proven to be very difficult, especially since it was already trimmed and overhauled during the new Health Care bill that just passed. That leaves non defense discretionary spending - a category that gets picked on every time the budget comes up. Because of this, non defense discretionary spending already runs fairly efficiently and smoothly. There is not much to cut.

    So how do you balance a budget when you can't cut anything and you can't raise taxes? That's incompetent.
    Is Obama going to do IT? No!! So that argument is pure BS

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    Re: Obama budget resurrects rejected tax increases

    Quote Originally Posted by Mach View Post
    It's like saying the reason I'm broke is because I don't make enough money...meanwhile I make $80K/year and gamble it all away.

    That's the liberal argument though, not the 800lb gorilla. That these programs that were put in place because of a crisis (Depression, war), are *vital* to our nation, and so, naturally, since they *must* be paid for, you have to raise taxes? And of course, since the people who needs these *vital* things can't actually afford it, we'll force the people who don't need it, to foot the bill. And then we'll run our political campaing on continuing those handouts to the majority, which gives us enough votes to compete. That's obviously a biased analysis of the argument, but you get the point.
    Poppycock! In order to maintain a budget, you must have enough income to pay your debts. Very few of us get through life without incurring debts. The key is having enough income to pay your bills. If your debt exceeds your income then you have a problem. You can balance your budget in two ways. Increasing income and cutting spending. Beginning with Reagan, the new paradigm in Washington has been to both increase spending and decrease income, by slashing taxes for the top income earners. Our two unfunded wars (over $3 trillion) and the unfunded tax cuts for the rich (almost i trillion over just two years) while we simultaneously cut our income by cutting taxes for the super wealthy are glaring examples of this new paradigm.
    Last edited by Catawba; 02-16-11 at 04:54 PM.
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    Re: Obama budget resurrects rejected tax increases

    Quote Originally Posted by ptif219 View Post
    The majority is calling for cut spending the election showed that
    That's a talking point. Cut spending means what? What spending are they going to cut? Hell, Boehner did not even want to cut spending on an engine that was going to cost 3 billion to make, and everyone admitted was not necessary in anyway.

    Why? Because it would cut jobs in Ohio. Everyone wants to cut until it's their program being cut.

    Quote Originally Posted by ptif219 View Post
    Is Obama going to do IT? No!! So that argument is pure BS
    Do what? Raise taxes? I wish. I am still not sure to this day why the democrats agreed to extending the tax cuts.

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    Re: Obama budget resurrects rejected tax increases

    Quote Originally Posted by Catawba View Post
    Poppycock! In order to maintain a budget, you must have enough income to pay your debts. Very few of us get through life without incurring debts. The key is having enough income to pay your bills. If your debt exceeds your income then you have a problem. You can balance your budget in two ways. Increasing income and cutting spending. Beginning with Reagan, the new paradigm in Washington has been to both increase spending and decrease income, by slashing taxes for the top income earners. Our two unfunded wars (over $3 trillion) and the unfunded tax cuts for the rich (almost i trillion over just two years) while we simultaneously cut our income by cutting taxes for the super wealthy are glaring examples of this new paradigm.
    hate to confuse anyone with facts. But the extention of the Bush tax rates for those above $250 thousand was about $150 billion, not chump change but also not your exagerated numbers. Again the statistic Obama used was $700 billion over 10 years.

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