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Getbig Main Boards => Politics and Political Issues Board => Topic started by: Decker on June 13, 2008, 07:01:25 AM
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Democrat Barack Obama brought a fierce populist message to the state on Thursday, hoping his push for middle-class tax cuts proves popular here and in other battlegrounds.
While Obama touted his tax cut plan as seeking to close a widening gap between the nation’s haves and have-nots, Republicans slammed his approach, labeling Obama a garden variety tax-and-spend liberal.
In the Senate, McCain initially opposed the Bush tax cuts, but now says he wants to make them permanent. Obama says the Bush tax cuts disproportionately benefit the wealthy.
“It is time for folks like me who make more than $250,000 to pay our fair share,” Obama said. “If you are a family making less than $250,000, my plan will not raise your taxes. Period.”
Average Americans, he said, “could stand a break. You could stand a break.”
http://www.jsonline.com/story/index.aspx?id=761666
Where did the $150,000 tax floor attributed to Obama come from? I saw Beach Bum pushing that for weeks.
Obama's taking the responsible route in ending the Bush tax cuts. Bush wanted the tax to end in 2010 to make his promises (lies) re the true costs of the tax cuts palatable to the american people. Then he turns around and asks to make them permanent...what a crooked politician Bush is.
McCain, well he flip-flopped right into fiscal insanity by embracing the irresponsible tax cuts of Bush.
Yesterday I saw McCain in one of his tv ads and he looks terrible. He looks like Reagan did at the end of his presidency--old, used up, and slightly confused.
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That is weird his wife was on Barbara Walters complaining how she was still paying off her student loans and could not get a "break" in this country
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Yesterday I saw McCain in one of his tv ads and he looks terrible. He looks like Reagan did at the end of his presidency--old, used up, and slightly confused.
To say the least. Campaign is wearing on him, he is looking worse as time goes on.
I keep reading that 85/90% of Americans will pay less tax under Obama. Also have read on Tax Policy Center that Obama's plan will increases national debt by like 3 trillion, and McCains by 4.3 trillion. Lovely..
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That is weird his wife was on Barbara Walters complaining how she was still paying off her student loans and could not get a "break" in this country
I left law school with over $100,000 worth of debt so I believe her.
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Barack Obama on Taxes :o :o :o
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Good video Eldon.
Let's punish the 50 hedge fund managers while at the same time punishing the 99,999,950 Americans that own stock.
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What happens in the video. I can't watch it at work.
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Good video Eldon.
Let's punish the 50 hedge fund managers while at the same time punishing the 99,999,950 Americans that own stock.
exactly :)
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What happens in the video. I can't watch it at work.
Obama appeases welfare moms.
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“It is time for folks like me who make more than $250,000 to pay our fair share,” Obama said.
How does he not think the "fair share" is not being paid right now?
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How does he not think the "fair share" is not being paid right now?
When CEOs pay less than their secretaries, etc.
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How does he not think the "fair share" is not being paid right now?
240's correct.
"Warren Buffett has argued that he isn’t being asked to pay his share. He went around his office, asking people what share of their income they pay in income taxes. Buffett’s 17.7 percent tax rate compared a bit too favorably with the 30 percent tax rate paid by his secretary.
So it appears that the tax system favors the super-rich over working stiffs."
http://freakonomics.blogs.nytimes.com/2008/05/01/taxes-warren-buffett-and-paying-my-fair-share/
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When CEOs pay less than their secretaries, etc.
What would you think about everyone paying the same percentage of tax regarding everything including income tax?
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240's correct.
"Warren Buffett has argued that he isn’t being asked to pay his share. He went around his office, asking people what share of their income they pay in income taxes. Buffett’s 17.7 percent tax rate compared a bit too favorably with the 30 percent tax rate paid by his secretary.
So it appears that the tax system favors the super-rich over working stiffs."
http://freakonomics.blogs.nytimes.com/2008/05/01/taxes-warren-buffett-and-paying-my-fair-share/
I think I'm confused. Is Buffett saying his income tax rate is only 17.7 percent? What formula is being used here ???
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What would you think about everyone paying the same percentage of tax regarding everything including income tax?
On paper, it's 100% fair.
In reality, it'd likely crush our economy. There are 50 million poor people who would see their spending power decrease immediately. Given that we're already in a recession, they'd likely start to get rowdy about this. If I'm already struggling to buy food for my family, and suddenly my weekly walmart, gas, etc bills go up 10%, I might be in trouble.
As spending at Walmart drops by 10% or more, the ripple effect begins. Your portfolio loses 10% of value. 10% layoffs which lead to 10% more on the bottom end not making ends meet.
Completely arbitrary numbers above, but you get my point. Flat sales and income tax is fair, but in the system we have set up, it's not practical.
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What would you think about everyone paying the same percentage of tax regarding everything including income tax?
Americans do pay the same tax rates--capital gains, sales tax, income tax, etc.
Income tax rates go up for dollars in higher different brackets. Warren Buffet pays the same tax rate on his first $20,000 that I pay.
Flat taxes are generally a tax hike on poorer people and a tax cut for wealthy people.
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On paper, it's 100% fair.
In reality, it'd likely crush our economy.
Agree and agree
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I think I'm confused. Is Buffett saying his income tax rate is only 17.7 percent? What formula is being used here ???
You'd have to ask his accountants.
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You'd have to ask his accountants.
hmmmmm!