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Title: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: Soul Crusher on November 14, 2012, 06:05:48 AM
http://www.washingtonpost.com/business/economy/obama-to-open-fiscal-talks-with-plan-to-raise-taxes-on-wealthy/2012/11/13/9984cd78-2dc1-11e2-89d4-040c9330702a_story.html?hpid=z2



LMFAO!!!!    



Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: chadstallion on November 14, 2012, 06:08:36 AM
welcome back, buddy!
Sherdog.net isn't nearly as interesting a site as GB.
joined over there because of you.
McWay is just about to take over from where you left off so now you can regain your rightful place.


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: tonymctones on November 14, 2012, 06:12:24 AM
No spending cut proposal?


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: Soul Crusher on November 14, 2012, 06:13:04 AM
No spending cut proposal?


Only a naive fool ever though Obama ever intended on cutting anything. 


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: Vince G, CSN MFT on November 14, 2012, 06:22:21 AM
http://www.washingtonpost.com/business/economy/obama-to-open-fiscal-talks-with-plan-to-raise-taxes-on-wealthy/2012/11/13/9984cd78-2dc1-11e2-89d4-040c9330702a_story.html?hpid=z2



LMFAO!!!!   You idiots OWN THIS! 




That's right....that's what he's been saying all along.  Increase taxes on the wealthy...and the people agreed by a vast majority.


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: 240 is Back on November 14, 2012, 06:52:55 AM

That's right....that's what he's been saying all along.  Increase taxes on the wealthy...and the people agreed by a vast majority.

yeah, where is the surprise here?   He said all along he will add taxes on the super wealthy.

Agree with obama or disagree - this is EXACTLY what he said he'd do.



Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: GigantorX on November 14, 2012, 06:55:20 AM
The tax hikes will be real although the projected revenue won't be nearly as much as they state.

The spending cuts, as usual, will be fictitious and never materialize.

Problem doesn't get solved but it will certainly get worse.

More half baked garbage for D.C.

See you guys at the next "HUGE EARTH KILLING CRISIS" in a couple of years.



Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: pwrnxs on November 14, 2012, 06:56:20 AM

That's right....that's what he's been saying all along.  Increase taxes on the wealthy...and the people agreed by a vast majority.

The only problem is that the ones who agree are the ones not paying any taxes and collecting earned income credits.


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: GigantorX on November 14, 2012, 06:56:43 AM
yeah, where is the surprise here?   He said all along he will add taxes on the super wealthy.

Agree with obama or disagree - this is EXACTLY what he said he'd do.



So, those individuals/couples that make 250k per year are now considered "Super Wealthy?"

Hot damn!

P.S. The "Super Wealthy" don't make their fortunes by collecting a paycheck every 2 weeks.


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: 240 is Back on November 14, 2012, 06:59:50 AM
So, those individuals/couples that make 250k per year are now considered "Super Wealthy?"

Hot damn!

P.S. The "Super Wealthy" don't make their fortunes by collecting a paycheck every 2 weeks.

I'm not saying I agree with his policies - I'm saying he's doing exactly what he said he'd do.

of course I do not consider them to be super wealthy.  But anyone who says "oh, snap, look what your hero did, you never saw this coming..."

Well, this is eactly what he promised to do.


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: Shockwave on November 14, 2012, 07:04:06 AM
So, those individuals/couples that make 250k per year are now considered "Super Wealthy?"

Hot damn!

P.S. The "Super Wealthy" don't make their fortunes by collecting a paycheck every 2 weeks.
Some areas, 250k (for a family) is considered lower middle class.


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: mogulgangi on November 14, 2012, 07:05:24 AM
http://www.washingtonpost.com/business/economy/obama-to-open-fiscal-talks-with-plan-to-raise-taxes-on-wealthy/2012/11/13/9984cd78-2dc1-11e2-89d4-040c9330702a_story.html?hpid=z2



LMFAO!!!!   You idiots OWN THIS! 




This is majoir propaganda to keep the dems ideals strong..let's not forget the house is the only legislature than can pass tax raising bills..the house is ran by the republicans...can't see this going thru...thank god for the repubs


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: GigantorX on November 14, 2012, 07:12:44 AM
Some areas, 250k (for a family) is considered lower middle class.

Very true. But it doesn't matter.

Obama and his team were masterful in playing up the "Class Warfare" card.

Mao and Lenin would be proud and I'm not saying that he's a communist or anything but this is how politics works, now and in the past.

I'm still waiting for a bunch of rich people from the "Rich" part of town to get dragged in chains to the local park to face a "trial", get thrown into jail, executed and their property redistributed.

I'm half joking but again, that angle worked.

"Private jets"
"Millionaires and billionaires"
"Fair share"
"The most fortunate"
"Pay a little bit more"

Of course, the 250k per year crowd doesn't own any jets, but whatever. And of course those taxes won't come close to solving the problem or problems we face, but whatever. The beast needs to be fed and the masses need bread and circus.

Another little secret is that t the vast majority of the income gains in real terms and compared to the bottom 90% comes from investments etc. The rise in incomes for the upper strata mirrors, almost perfectly, the rise in the markets over the last 30 years.  Go search for some charts, it's striking.


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: magikusar on November 14, 2012, 07:20:10 AM
http://www.washingtonpost.com/business/economy/obama-to-open-fiscal-talks-with-plan-to-raise-taxes-on-wealthy/2012/11/13/9984cd78-2dc1-11e2-89d4-040c9330702a_story.html?hpid=z2



LMFAO!!!!   You idiots OWN THIS! 



Oh yeah not to mention the obama tax hikes aka expiring bush tax lowerings


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: Grape Ape on November 14, 2012, 07:46:00 AM
So, those individuals/couples that make 250k per year are now considered "Super Wealthy?"

Hot damn!

P.S. The "Super Wealthy" don't make their fortunes by collecting a paycheck every 2 weeks.

This is my biggest problem.   Now, I get it that there are others who would kill to be in this situation, but let's just talk math.   Please correct if I'm wrong with my numbers.

3% tax increase on 250k is $7,500.    These are generally the people who buy decent cars, nicer houses (not mansions), kids wear Uggs, buy the nice baseball bat, take vacations etc....They also spend a lot of time working.  So they take the luxury of paying someone to mow their lawn, eating at restaurants a few times a week, paying a sitter, paying for extra sports classes for the kids - all thing that are done to give them extra quality time when they're not working.   Taking almost 8 grand NET away from this group will definitely impact the money they throw around for convenience, so that will have an impact on others.






Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: Soul Crusher on November 14, 2012, 07:47:27 AM
This is my biggest problem.   Now, I get it that there are others who would kill to be in this situation, but let's just talk math.   Please correct if I'm wrong with my numbers.

3% tax increase on 250k is $7,500.    These are generally the people who buy decent cars, nicer houses (not mansions), kids wear Uggs, buy the nice baseball bat, take vacations etc....They also spend a lot of time working.  So they take the luxury of paying someone to mow their lawn, eating at restaurants a few times a week, paying a sitter, paying for extra sports classes for the kids - all thing that are done to give them extra quality time when they're not working.   Taking almost 8 grand NET away from this group will definitely impact the money they throw around for convenience, so that will have an impact on others.







Obama and the left do not give a damn about that. 


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: GigantorX on November 14, 2012, 07:53:15 AM
This is my biggest problem.   Now, I get it that there are others who would kill to be in this situation, but let's just talk math.   Please correct if I'm wrong with my numbers.

3% tax increase on 250k is $7,500.    These are generally the people who buy decent cars, nicer houses (not mansions), kids wear Uggs, buy the nice baseball bat, take vacations etc....They also spend a lot of time working.  So they take the luxury of paying someone to mow their lawn, eating at restaurants a few times a week, paying a sitter, paying for extra sports classes for the kids - all thing that are done to give them extra quality time when they're not working.   Taking almost 8 grand NET away from this group will definitely impact the money they throw around for convenience, so that will have an impact on others.






Correct. But it doesn't matter.

Blah, blah, private jet, derp derp derp, pay their fair share, blah blah wealthiest americans.

In 5 years when things don't improve, spending explodes and revenues aren't living up to projections, who will be in the cross-hairs then? Will 200k be "Super Wealthy Private Jet Owning?" or will they go that extra mile and say 150k is the new bourgeoisies? All of sudden, those that got riled up and distracted by magic tricks and 3-Card Monte are no cutting their own throats. 

Start with tax reform and go from there.


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: War-Horse on November 14, 2012, 07:58:12 AM

That's right....that's what he's been saying all along.  Increase taxes on the wealthy...and the people agreed by a vast majority.


QFT.   


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: tu_holmes on November 14, 2012, 08:07:05 AM
Many Democrats disagree with Obama's number for "wealthy".

Tim Kaine has used the number 750,000.

I believe you will see this 250K number moved upward along with the Republicans saying that you will have to cut some things and in the end, a smart thing will have happened.


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: Straw Man on November 14, 2012, 08:14:44 AM

That's right....that's what he's been saying all along.  Increase taxes on the wealthy...and the people agreed by a vast majority.

correctomundo

this is what he ran on, this is in part why he was re-elected

I can't believe anyone on this board has forgotten this already


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: Straw Man on November 14, 2012, 08:16:11 AM
The tax hikes will be real although the projected revenue won't be nearly as much as they state.

The spending cuts, as usual, will be fictitious and never materialize.
Problem doesn't get solved but it will certainly get worse.

More half baked garbage for D.C.

See you guys at the next "HUGE EARTH KILLING CRISIS" in a couple of years.

so you're saying the Repubs will not be able to get any spending cuts through and you don't believe the Dems or Obama want any spending cuts at all either ?



Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: Straw Man on November 14, 2012, 08:18:24 AM
This is my biggest problem.   Now, I get it that there are others who would kill to be in this situation, but let's just talk math.   Please correct if I'm wrong with my numbers.

3% tax increase on 250k is $7,500.    These are generally the people who buy decent cars, nicer houses (not mansions), kids wear Uggs, buy the nice baseball bat, take vacations etc....They also spend a lot of time working.  So they take the luxury of paying someone to mow their lawn, eating at restaurants a few times a week, paying a sitter, paying for extra sports classes for the kids - all thing that are done to give them extra quality time when they're not working.   Taking almost 8 grand NET away from this group will definitely impact the money they throw around for convenience, so that will have an impact on others.

It's not 3% from dollar 1 it's 3% on AGI > 250k

if you have an AGI of 300k you'll pay an extra 3% on the amount over 250k

In this example it's an extra  3% of 50k or a whopping $1500


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: Straw Man on November 14, 2012, 08:19:24 AM


Settle down loser. It wont affect the poverty stricken like yourself.

LOL - exactly, same goes for virtually everyone on this board who is bellyaching about it


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: Option D on November 14, 2012, 08:23:26 AM
Some areas, 250k (for a family) is considered lower middle class.

Where?


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: War-Horse on November 14, 2012, 08:24:33 AM
Many Democrats disagree with Obama's number for "wealthy".

Tim Kaine has used the number 750,000.

I believe you will see this 250K number moved upward along with the Republicans saying that you will have to cut some things and in the end, a smart thing will have happened.



Exactly. I think obamas gonna move the number up as a form of compromise. But of course the GOP willpiss off america again and be the party of NO.


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: Grape Ape on November 14, 2012, 08:24:53 AM
It's not 3% from dollar 1 it's 3% on AGI > 250k

if you have an AGI of 300k you'll pay an extra 3% on the amount over 250k

In this example it's an extra  3% of 50k or a whopping $1500

If that's the case, then yes, that would cause me to change my feelings my post above.   I will do my research to make sure that's correct, unless you have a link handy.


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: Shockwave on November 14, 2012, 08:25:07 AM
Where?
Areas of New York, areas of L.A.


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: Soul Crusher on November 14, 2012, 08:25:31 AM
Where?

Manhattan, long island, westchester, NJ its middle class or upper-mid class.  

I hope that street punk gets his way - the economy is already tanking and this will just make it even worse.  

At thi point we deserve every miserable thing coming our way.  

Obama wins = America fails.  


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: Option D on November 14, 2012, 08:27:06 AM
Areas of New York, areas of L.A.

No where in LA is household income considered lower middle class


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: MCWAY on November 14, 2012, 08:27:26 AM
The tax hikes will be real although the projected revenue won't be nearly as much as they state.

The spending cuts, as usual, will be fictitious and never materialize.

Problem doesn't get solved but it will certainly get worse.

More half baked garbage for D.C.

See you guys at the next "HUGE EARTH KILLING CRISIS" in a couple of years.



And, therein lies the problem. The Dems NEVER go with the spending cuts.


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: GigantorX on November 14, 2012, 08:27:32 AM
so you're saying the Repubs will not be able to get any spending cuts through and you don't believe the Dems or Obama want any spending cuts at all either ?



First, nothing ever gets "cut." The budget grows every year in accordance with the law. Any and all "cuts" that are discussed aren't cuts from the budget itself but instead cuts to projected future spending. Budget still grows, problems aren't resolved, problem gets worse. When was the last time anything was ever actually cut from the baseline budget?

And no, I don't think either party wants real budget cuts, reform etc. Kick that can down the road, get the largess, get re-elected (their real job) and let the next guys handle it. Can't forget to start posturing for that shiny new lobbying job with Bank of America.

This whole "Fiscal Cliff" doomsday scenario is theater at its best. From the politicians to the media/entertainment complex.

My prediction:
-Media plays it up as Armageddon to scare the shit out of anyone and to capture ratings/attention.
-The politicians engage in solid political theater/magic show via news media/direct press conferences. They need to make it seem like they are fighting for our best interests.
-Nothing gets done, on purpose, market crashes, public freaks out as it's around the New Year/Post-Xmas.
-The politicians get together and kick the can down the road. They pat themselves on the back.
-Markets rise from another heroine/meth injection. Short lived.
-Scenario revisited in 4-6 years but this time with another snappy and attention grabbing name for it. Possibly derived from an acronym, something short and patriotic.



Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: War-Horse on November 14, 2012, 08:28:33 AM
Manhattan, long island, westchester, NJ its middle class or upper-mid class.  

I hope that street punk gets his way - the economy is already tanking and this will just make it even worse.  

At thi point we deserve every miserable thing coming our way.  

Obama wins = America fails.  


So far not true chicken little.  Im seeing homes being built and people buying again.  But thanks for the positive attitude and well wishes for America....commie.


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: Straw Man on November 14, 2012, 08:29:13 AM
If that's the case, then yes, that would cause me to change my feelings my post above.   I will do my research to make sure that's correct, unless you have a link handy.

that's always been the case

the marginal tax rates are progressive

no offense intended but how do you not know this

all that anger over a misunderstanding ?


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: Straw Man on November 14, 2012, 08:30:15 AM
Where?

no where

the wealthiest county in the US has a median income of $115,574

http://www.forbes.com/sites/nathanvardi/2012/04/24/americas-richest-counties/


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: Straw Man on November 14, 2012, 08:30:49 AM
And, therein lies the problem. The Dems NEVER go with the spending cuts.

who controls spending ?

the Dems?


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: War-Horse on November 14, 2012, 08:31:56 AM
that's always been the case

the marginal tax rates are progressive

no offense intended but how do you not know this

all that anger over a misunderstanding ?


Because Limbaugh forgot to say that part of it.


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: GigantorX on November 14, 2012, 08:33:21 AM
who controls spending ?

the Dems?

Does it matter?

The parties have changed seats of power and control many, many times but the trajectory and health of the United States as only trended one way.

I'm sorry, I have my cynical sad face on right now.


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: MCWAY on November 14, 2012, 08:33:34 AM
who controls spending ?

the Dems?

Because Limbaugh forgot to say that part of it.

It seems you two forget that any law has to get through the DEMOCRAT-CONTROLLED Senate.


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: Grape Ape on November 14, 2012, 08:34:36 AM
that's always been the case

the marginal tax rates are progressive

no offense intended but how do you not know this

all that anger over a misunderstanding ?

Why do you assume anger?  Message board discussion has very little emotional investment for me, and often just kills time while I wait on data.  Perhaps you're projecting?  No idea why you always feel the need to add on to make it confrontational.

I admitted in a post to you the other day that I had marginal exposure to researching this.  It's why I began my post with "correct me if my math is wrong".  Get it?



Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: Straw Man on November 14, 2012, 08:35:48 AM
First, nothing ever gets "cut." The budget grows every year in accordance with the law. Any and all "cuts" that are discussed aren't cuts from the budget itself but instead cuts to projected future spending. Budget still grows, problems aren't resolved, problem gets worse. When was the last time anything was ever actually cut from the baseline budget?

And no, I don't think either party wants real budget cuts, reform etc. Kick that can down the road, get the largess, get re-elected (their real job) and let the next guys handle it. Can't forget to start posturing for that shiny new lobbying job with Bank of America.

This whole "Fiscal Cliff" doomsday scenario is theater at its best. From the politicians to the media/entertainment complex.

My prediction:
-Media plays it up as Armageddon to scare the shit out of anyone and to capture ratings/attention.
-The politicians engage in solid political theater/magic show via news media/direct press conferences. They need to make it seem like they are fighting for our best interests.
-Nothing gets done, on purpose, market crashes, public freaks out as it's around the New Year/Post-Xmas.
-The politicians get together and kick the can down the road. They pat themselves on the back.
-Markets rise from another heroine/meth injection. Short lived.
-Scenario revisited in 4-6 years but this time with another snappy and attention grabbing name for it. Possibly derived from an acronym, something short and patriotic.



some things do in fact get cut but I also agree that they often cut the growth of spending nad call it a cut, which in a sense it is

all that really matters is that through a combinantion of revenue increase and spending decrease that we are able to reduce the annual deficit and start paying down the debt and that we do it in a way that doesn't harm the economy.    I believe that those goals are possible and certainly more so with Obama as POTUS which is what the voters seem to have thought as wel

The Repubs agreed to teh "fiscal cliff" scneario thinking they were going win back the White House and then not have to deal with it.  

They fucked up and now they are in a panick because although they claim to love spending cuts it's only spending cuts that effect the lower and middle classes that they really love.  


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: Soul Crusher on November 14, 2012, 08:35:57 AM
Bottom line is that it takes more $$$$ out of an already DOA economy that is not going anywhere.  

What is obama going to do with the $$$$?  


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: War-Horse on November 14, 2012, 08:36:13 AM
And, therein lies the problem. The Dems NEVER go with the spending cuts.


Hmmmmm  lower the war budget by bringing our children home.   OR,  Robbing senior citizens and handi-capped of basic dignity.  


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: Straw Man on November 14, 2012, 08:38:26 AM
Why do you assume anger?  Message board discussion has very little emotional investment for me, and often just kills time while I wait on data.  Perhaps you're projecting?  No idea why you always feel the need to add on to make it confrontational.

I admitted in a post to you the other day that I had marginal exposure to researching this.  It's why I began my post with "correct me if my math is wrong".  Get it?

why are you assuming anger

If I have anything it's frustration that you (and there are no doubt millions of people like you) who are upset about a tax increase when you don't even understand how it works

As soon as I gave you what assumed was common knowledge you're suddenly ready to change your "feelings" which is a good thing but I'm just amazed you never knew that in the first place

again, no offense, but this is emblematic of most political discussions in this country


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: Soul Crusher on November 14, 2012, 08:39:08 AM

Hmmmmm  lower the war budget by bringing our children home.   OR,  Robbing senior citizens and handi-capped of basic dignity.  

Iraq war is supposedly over and we are already on pace for another year of $1.2 Trillion deficit. 

So much for that theory. 


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: Straw Man on November 14, 2012, 08:40:41 AM
Does it matter?
The parties have changed seats of power and control many, many times but the trajectory and health of the United States as only trended one way.

I'm sorry, I have my cynical sad face on right now.

of course it matters

wasn't that the Repubs claim when Dems control Congress that agreed upon spending cuts never materialize

If the Repubs fail to implement spending cuts then you have a point but then they have no remaining leg to stand on in defense of their own leadership


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: War-Horse on November 14, 2012, 08:41:03 AM
Bottom line is that it takes more $$$$ out of an already DOA economy that is not going anywhere.  

What is obama going to do with the $$$$?  


Do you live in a ghetto.  If so why dont you try to better yourself? You sure dont see reality thats for sure.


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: Straw Man on November 14, 2012, 08:42:34 AM
It seems you two forget that any law has to get through the DEMOCRAT-CONTROLLED Senate.

Dems don't really control the Senate wihout 60 votes (hopefully they change the rules next year) and my hope (go ahead and laugh) is the Dems, Repubs and the POTUS will finally work together on something



Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: Grape Ape on November 14, 2012, 08:42:50 AM
why are you assuming anger

If I have anything it's frustration that you (and there are no doubt millions of people like you) who are upset about a tax increase when you don't even understand how it works

As soon as I gave you what assumed was common knowledge you're suddenly ready to change your "feelings" which is a good thing but I'm just amazed you never knew that in the first place

again, no offense, but this is emblematic of most political discussions in this country

According to this document, letting the Bush cuts expire, and not extending, causes a married couple filing jointly whose income is between 222.3 and 397k to go from 33% to 36%.  That is what I was referring to.  

http://www.fas.org/sgp/crs/misc/R42485.pdf

Maybe we are discussing something different, or am I missing context by not reading the entire thing?


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: War-Horse on November 14, 2012, 08:43:07 AM
Iraq war is supposedly over and we are already on pace for another year of $1.2 Trillion deficit. 

So much for that theory. 


Okay and what would it be if the war was still in iraq?  Add it up for me and call Obama to thank him for the savings K?


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: Straw Man on November 14, 2012, 08:43:41 AM
Bottom line is that it takes more $$$$ out of an already DOA economy that is not going anywhere.  

What is obama going to do with the $$$$?  

just because your personal economy is DOA does not mean the rest of the country is

you should travel out of the ghetto occasionally and see how the non-whiners are doing


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: GigantorX on November 14, 2012, 08:44:16 AM
some things do in fact get cut but I also agree that they often cut the growth of spending nad call it a cut, which in a sense it is

all that really matters is that through a combinantion of revenue increase and spending decrease that we are able to reduce the annual deficit and start paying down the debt and that we do it in a way that doesn't harm the economy.    I believe that those goals are possible and certainly more so with Obama as POTUS which is what the voters seem to have thought as wel

The Repubs agreed to teh "fiscal cliff" scneario thinking they were going win back the White House and then not have to deal with it.  

They fucked up and now they are in a panick because although they claim to love spending cuts it's only spending cuts that effect the lower and middle classes that they really love.  

I agree that blind austerity will get us nowhere as increased revenues should, in dream world, come from increased growth. If it just comes from taxes then you are essentially drinking your own blood to sate your thirst. What really is needed is actual tax reform and spending/budgetary reform. Simply raising taxes and increasing revenue won't come anywhere close to solving the problem.  We won't get that, not even close. The problem will be left unsolved. Voters voted for problem solving, not just raising taxes. Let us not forget that.

CBO projects the national budget to be around 5 trillion by 2020 or so with revenues not being much more than they are now.

There are severe structural problems that are at the root of our decline, whatever bread and circus/class warfare that is going on right now won't solve those.


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: Soul Crusher on November 14, 2012, 08:44:43 AM
just because your personal economy is DOA does not mean the rest of the country is

you should travel out of the ghetto occasionally and see how the non-whiners are doing

GDP is 1.3% and you call that good? 


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: MCWAY on November 14, 2012, 08:45:15 AM
Dems don't really control the Senate wihout 60 votes (hopefully they change the rules next year) and my hope (go ahead and laugh) is the Dems, Repubs and the POTUS will finally work together on something



I doubt the Dems do that, because the instant they lose control of the Senate, they'll be wailing for the days of the filibuster.


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: Straw Man on November 14, 2012, 08:47:45 AM
According to this document, letting the Bush cuts expire, and not extending, causes a married couple filing jointly whose income is between 222.3 and 397k to go from 33% to 36%.  That is what I was referring to.  

http://www.fas.org/sgp/crs/misc/R42485.pdf

Maybe we are discussing something different, or am I missing context by not reading the entire thing?


that's not what you wrote in your post and even an increase of 3% on income btw 222 and 397k (175k) is only $5250

you think that a couple earning 397k are going to change their life in anyway because of a tax increase of $5250


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: Straw Man on November 14, 2012, 08:49:03 AM
I doubt the Dems do that, because the instant they lose control of the Senate, they'll be wailing for the days of the filibuster.

it's not the Dems you have to worry about it's the Repubs who can't deal with the fact that we had an election and the voters rejected their ideas and now that politics is over it's time to govern and they need to compromise

Repubs have never really liked the governing part


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: War-Horse on November 14, 2012, 08:50:25 AM
I doubt the Dems do that, because the instant they lose control of the Senate, they'll be wailing for the days of the filibuster.


Repubs hold the record for filibusters as the party of NO they shot down 51 jobs bills.  Mostly because they are racist it seems.
Ill never forget Mitch Mconnell get on T.V. right after Obama was elected and saying  "Our number one objective is to make obama a one term president.  And this was in the middle of our crisis!  Same as saying F#ck u American citizens. :-\


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: MCWAY on November 14, 2012, 08:54:58 AM

Repubs hold the record for filibusters as the party of NO they shot down 51 jobs bills.  Mostly because they are racist it seems.
Ill never forget Mitch Mconnell get on T.V. right after Obama was elected and saying  "Our number one objective is to make obama a one term president.  And this was in the middle of our crisis!  Same as saying F#ck u American citizens. :-\

And, prior to that the Dems had the record. When they become the minority party again, they'll break the GOP's record.

The minority party is always the party of NO. You act as if the Dems were all friendly and singing "Kum Bah Yah" when Bush was in office (Remember all that "President-Select" crap we heard for four years from Dems, after the 2000 election?).

I'll never forget Obama saying that unemployment would never exceed 8% under his stimulus.

Or, that nobody making under 250K would see their taxes go up "one dime".

Or, ObamaCare would lower premiums.

But, it seems you weren't all that concerned about that. But, Mitch McConnell's statement about Obama's being a one-term president is far more important. When this economy tanks further, you're going to wish McConnell were right.


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: Straw Man on November 14, 2012, 08:58:57 AM
GDP is 1.3% and you call that good? 

ok, I'm gonna guess you saw 1.3% somewhere and got confused because you obviously dont' even know what that refers to

The % change in GDP in 2Q12 was 1.3%

Here's the actual data but just scroll to the chart on page 6 and while you're looking at 2Q12 be sure to look to the left at the prior quarters and maybe you'll notice 4Q2008 at a  MINUS 8.9%

http://www.bea.gov/newsreleases/national/gdp/2012/pdf/gdp3q12_adv.pdf


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: MCWAY on November 14, 2012, 09:00:42 AM
it's not the Dems you have to worry about it's the Repubs who can't deal with the fact that we had an election and the voters rejected their ideas and now that politics is over it's time to govern and they need to compromise

Repubs have never really liked the governing part


PLEASE!!! Where's all this "compromise" when the voters reject the Democrats' ideas? The politics part is never over in Washington, regardless of who wins or loses.



Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: Straw Man on November 14, 2012, 09:04:46 AM
PLEASE!!! Where's all this "compromise" when the voters reject the Democrats' ideas? The politics part is never over in Washington, regardless of who wins or loses.

the election was just a week ago and Repubs basically put everything on hold a year ago

The time for compromise and negotion is right now and in the next few months and few years

Repubs will do themselves no favors by sticking to their same obstructionist ways but then I also don't really expect them to believe or understand this

The level of denial exhibited by them in the last week is an indication that they still have not woken up to reality


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: MCWAY on November 14, 2012, 09:11:06 AM
the election was just a week ago and Repubs basically put everything on hold a year ago

The time for compromise and negotion is right now and in the next few months and few years

Repubs will do themselves no favors by sticking to their same obstructionist ways but then I also don't really expect them to believe or understand this

The level of denial exhibited by them in the last week is an indication that they still have not woken up to reality

The reality is that this should have been addressed long ago. But, as usual, it was put off at the last minute, until it hit crisis mode.

Of course, all of this is to save Obama, to keep him from breaking yet another campaign promise (not raising taxes on the middle class, again).

What did the Dems offer to cut, besides (of course) the military, which simply means more people losing their jobs and longer, more frequent deployments for those that remain.


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: Straw Man on November 14, 2012, 09:13:48 AM
The reality is that this should have been addressed long ago. But, as usual, it was put off at the last minute, until it hit crisis mode.
Of course, all of this is to save Obama, to keep him from breaking yet another campaign promise (not raising taxes on the middle class, again).

What did the Dems offer to cut, besides (of course) the military, which simply means more people losing their jobs and longer, more frequent deployments for those that remain.


have you truly forgotten that Obama tried to address it and the Repubs played chicken with the economy until they finally compromised and created the so called fiscal cliff (again with Repubs bettting they would win back the White House and wouldn't have to deal with it)



Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: OzmO on November 14, 2012, 09:15:25 AM
the election was just a week ago and Repubs basically put everything on hold a year ago

The time for compromise and negotion is right now and in the next few months and few years

Repubs will do themselves no favors by sticking to their same obstructionist ways but then I also don't really expect them to believe or understand this


The level of denial exhibited by them in the last week is an indication that they still have not woken up to reality

this

Time to get things done


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: MCWAY on November 14, 2012, 09:16:21 AM
have you truly forgotten that Obama tried to address it and the Repubs played chicken with the economy until they finally compromised and created the so called fiscal cliff (again with Repubs bettting they would win back the White House and wouldn't have to deal with it)



Have YOU truly forgotten that Boehner tried to "compromise" with Obama (and got grilled for it by members of his own party), only to have Obama back out at the last minute?

How many times has he tried to reach out to the president, only for him to be MIA?

Raising taxes isn't going to put so much as a dent in the deficit. All it will do is have rich people move their money, fire people to cover the cost, and/or raise prices on goods and services.




Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: GigantorX on November 14, 2012, 09:18:09 AM
have you truly forgotten that Obama tried to address it and the Repubs played chicken with the economy until they finally compromised and created the so called fiscal cliff (again with Repubs bettting they would win back the White House and wouldn't have to deal with it)



Yes, I totally remember that. The King of Kings tried so desperately to save the nation and rescue us all from certain doom. He tried to save us by creating the non-partisan Simpson-Bowles commission and then completely dismissing it.



Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: MCWAY on November 14, 2012, 09:19:34 AM
Yes, I totally remember that. The King of Kings tried so desperately to save the nation and rescue us all from certain doom. He tried to save us by creating the non-partisan Simpson-Bowles commission and then completely dismissing it.



THANK YOU!! They told him exactly what needed to be done; it wasn't what Obama wanted to hear and he FLAT-OUT IGNORED THEIR ADVICE.


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: War-Horse on November 14, 2012, 09:21:05 AM
And, prior to that the Dems had the record. When they become the minority party again, they'll break the GOP's record.

The minority party is always the party of NO. You act as if the Dems were all friendly and singing "Kum Bah Yah" when Bush was in office (Remember all that "President-Select" crap we heard for four years from Dems, after the 2000 election?).

I'll never forget Obama saying that unemployment would never exceed 8% under his stimulus.

Or, that nobody making under 250K would see their taxes go up "one dime".

Or, ObamaCare would lower premiums.

But, it seems you weren't all that concerned about that. But, Mitch McConnell's statement about Obama's being a one-term president is far more important. When this economy tanks further, you're going to wish McConnell were right.

No ones bought a policy yet rocket scientist. lol   Wait till the exchanges are set up and people will shop.   And My taxes havent went up...have your's??   Your weird.


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: Necrosis on November 14, 2012, 09:25:40 AM
Have YOU truly forgotten that Boehner tried to "compromise" with Obama (and got grilled for it by members of his own party), only to have Obama back out at the last minute?

How many times has he tried to reach out to the president, only for him to be MIA?

Raising taxes isn't going to put so much as a dent in the deficit. All it will do is have rich people move their money, fire people to cover the cost, and/or raise prices on goods and services.




as usual you live in an alternate reality. Good luck trying to wreck the economy with your retarded economic principles.

The US is on the rise, watch and learn, just like the election you clowns are clueless. Guess that is what happens when you take information from people who admit to lying.


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: MCWAY on November 14, 2012, 09:29:00 AM
No ones bought a policy yet rocket scientist. lol   Wait till the exchanges are set up and people will shop.   And My taxes havent went up...have your's??   Your weird.

People aren't going to shop; they're going to get dropped from their current plans by their employers to cut costs.

Premiums have already gone up, by over $2000 in many cases. And, if you're in the military and on Tricare (other than Prime, which is required by active duty folks) your costs will QUADRUPLE within a few years. Not to mention, in some states, they're taking retirees OFF Tricare Prime and forcing them to go on Standard, which costs them more money.

Employers are already prepping to reduce hours and drop employees' coverage, to make up the cost.


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: MCWAY on November 14, 2012, 09:31:24 AM
as usual you live in an alternate reality. Good luck trying to wreck the economy with your retarded economic principles.

The US is on the rise, watch and learn, just like the election you clowns are clueless. Guess that is what happens when you take information from people who admit to lying.

And YOUR economic principles have improved the economy by..........

More people working? NOPE!

Less debt? NOPE!!!

Lower deficit? NOPE!!

Fewer government-dependent people? NOT EVEN CLOSE!!

And, it's only going to get worse. But that's what happens when you're retarded enough to think that businesses and rich people are just going to stand idly by and get bilked by the government.

When the government doesn't get enough revenue from the rich, GUESS WHO'S NEXT!!



Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: Straw Man on November 14, 2012, 09:37:55 AM
Yes, I totally remember that. The King of Kings tried so desperately to save the nation and rescue us all from certain doom. He tried to save us by creating the non-partisan Simpson-Bowles commission and then completely dismissing it.

Repubs walked out of the Simpson Bowles negoations (including Paul Ryan)

Obama has no power implement that on his own

I'd like to see them follow Simpson Bowles but that would mean Repubs would have to agree to things like taxing dividend and capital gains as ordinary income

you might recall that Ryans first budget wanted these two categories to enjoy a zero or near zero tax rate


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: Necrosis on November 14, 2012, 09:49:04 AM
And YOUR economic principles have improved the economy by..........

More people working? NOPE!

Less debt? NOPE!!!

Lower deficit? NOPE!!

Fewer government-dependent people? NOT EVEN CLOSE!!

And, it's only going to get worse. But that's what happens when you're retarded enough to think that businesses and rich people are just going to stand idly by and get bilked by the government.

When the government doesn't get enough revenue from the rich, GUESS WHO'S NEXT!!



yes clinton had many of the principles that Obama has and Obama has seen debt reduction, job creation improve from a trend of job loss, important industries saved like the auto-industry.

Rich people incomes after taxes have tripled in the last twenty years, they have not been fleeced, it is the working class person getting fleeced. You supported Bush and let him run a booming economy to the ground and then some. You support a party who played obstructionist to a debt ceiling raise that was common under bush and caused a downgrade. The GOP got smacked this election and will continue to do so unless they change their tune and stop with the bullshit.

Where do you get your info? job creation has steadily increased from a job loss during bush's final years. You are lying.


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: blacken700 on November 14, 2012, 10:10:05 AM
yes clinton had many of the principles that Obama has and Obama has seen debt reduction, job creation improve from a trend of job loss, important industries saved like the auto-industry.

Rich people incomes after taxes have tripled in the last twenty years, they have not been fleeced, it is the working class person getting fleeced. You supported Bush and let him run a booming economy to the ground and then some. You support a party who played obstructionist to a debt ceiling raise that was common under bush and caused a downgrade. The GOP got smacked this election and will continue to do so unless they change their tune and stop with the bullshit.

Where do you get your info? job creation has steadily increased from a job loss during bush's final years. You are lying.

he can't help himself he gets his news from hate radio,he even admits it.they made him look like a fool before the election and they're doing it now. he lets talk radio do his thinking for him  ;D


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: MCWAY on November 14, 2012, 10:18:22 AM
yes clinton had many of the principles that Obama has and Obama has seen debt reduction, job creation improve from a trend of job loss, important industries saved like the auto-industry.

Clinton and Obama shouldn't even be used in the same sentence, when it comes to the economy. And lest you forget, Clinton tried some of the same stuff Obama did, until the Dems lost Congress in 1994. For six of Clinton's 8 years as president, he had the GOP running Congress.



Rich people incomes after taxes have tripled in the last twenty years, they have not been fleeced, it is the working class person getting fleeced. You supported Bush and let him run a booming economy to the ground and then some. You support a party who played obstructionist to a debt ceiling raise that was common under bush and caused a downgrade. The GOP got smacked this election and will continue to do so unless they change their tune and stop with the bullshit.

Where do you get your info? job creation has steadily increased from a job loss during bush's final years. You are lying.

When you lose more jobs than you create, that is a NET LOSS.

You don't get 8% unemployment for 44 of the last 46 months, with steadily increasing job creation. Even the press was reporting that the drop in unemployment was due (in no small measure) to people not looking for work. And it just so happens that the worst economic years of the Bush administration occurred when the DEMS ran Congress.

The downgrade happened ON OBAMA'S watch, not Bush's watch, and was the result of the Dems not cutting spending and the GOP not raising taxes. That is a fact.

We lowered our long-term rating on the U.S. because we believe that the
prolonged controversy over raising the statutory debt ceiling and the related
fiscal policy debate indicate that further near-term progress containing the
growth in public spending, especially on entitlements, or on reaching an
agreement on raising revenues is less likely than we previously assumed and
will remain a contentious and fitful process. We also believe that the fiscal
consolidation plan that Congress and the Administration agreed to this week
falls short of the amount that we believe is necessary to stabilize the
general government debt burden by the middle of the decade.


http://www.standardandpoors.com/ratings/articles/en/us/?assetID=1245316529563

The debt was 10 trillion when Obama took office; it's 16 trillion NOW (and counting).

Unemployment was 7.6% when Obama took office. It's "7.9%" now, higher than when he first took office (per Obama, it was never to exceed 8% and would be down to be around 5.5% now).

32 million on food stamps when Obama took office; 48 million on food stamps NOW.

Where do you get YOUR information?

Higher unemployment than when he took office; more people on food stamps now than when he took office; more debt now than when he took office;

And a second term of Obama is going to fix this because.........



Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: Necrosis on November 14, 2012, 10:49:19 AM
Clinton and Obama shouldn't even be used in the same sentence, when it comes to the economy. And lest you forget, Clinton tried some of the same stuff Obama did, until the Dems lost Congress in 1994. For six of Clinton's 8 years as president, he had the GOP running Congress.


When you lose more jobs than you create, that is a NET LOSS.

You don't get 8% unemployment for 44 of the last 46 months, with steadily increasing job creation. Even the press was reporting that the drop in unemployment was due (in no small measure) to people not looking for work. And it just so happens that the worst economic years of the Bush administration occurred when the DEMS ran Congress.

The downgrade happened ON OBAMA'S watch, not Bush's watch, and was the result of the Dems not cutting spending and the GOP not raising taxes. That is a fact.

We lowered our long-term rating on the U.S. because we believe that the
prolonged controversy over raising the statutory debt ceiling and the related
fiscal policy debate indicate that further near-term progress containing the
growth in public spending, especially on entitlements, or on reaching an
agreement on raising revenues is less likely than we previously assumed and
will remain a contentious and fitful process. We also believe that the fiscal
consolidation plan that Congress and the Administration agreed to this week
falls short of the amount that we believe is necessary to stabilize the
general government debt burden by the middle of the decade.


http://www.standardandpoors.com/ratings/articles/en/us/?assetID=1245316529563

The debt was 10 trillion when Obama took office; it's 16 trillion NOW (and counting).

Unemployment was 7.6% when Obama took office. It's "7.9%" now, higher than when he first took office (per Obama, it was never to exceed 8% and would be down to be around 5.5% now).

32 million on food stamps when Obama took office; 48 million on food stamps NOW.

Where do you get YOUR information?

Higher unemployment than when he took office; more people on food stamps now than when he took office; more debt now than when he took office;

And a second term of Obama is going to fix this because.........



you always find a way to give credit where it is not due. You have no credibility here, you were posting bullshit before the election that was proven dead wrong and then you continue with the same now.


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: Straw Man on November 14, 2012, 10:52:01 AM
Yes, I totally remember that. The King of Kings tried so desperately to save the nation and rescue us all from certain doom. He tried to save us by creating the non-partisan Simpson-Bowles commission and then completely dismissing it.

and what could he have done with zero support from Repubs

they rejected it first


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: Straw Man on November 14, 2012, 10:54:28 AM
Have YOU truly forgotten that Boehner tried to "compromise" with Obama (and got grilled for it by members of his own party), only to have Obama back out at the last minute?

How many times has he tried to reach out to the president, only for him to be MIA?

Raising taxes isn't going to put so much as a dent in the deficit. All it will do is have rich people move their money, fire people to cover the cost, and/or raise prices on goods and services.

remind me again of what he offered

I seem to recall him gloating that he go 97% of what they wanted or something to that effect


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: MCWAY on November 14, 2012, 11:03:17 AM
you always find a way to give credit where it is not due. You have no credibility here, you were posting bullshit before the election that was proven dead wrong and then you continue with the same now.

So, S&P didn't downgrade our credit, during Obama's watch for the reasons stated IN ITS OWN REPORT. 

Unemployment isn't really higher than it was when Obama took office.

48 million people really aren't on food stamps.

The debt isn't really 16 trillion dollars.

Obama didn't really state unemployment would stay under 8%, if his stimulus passed.

Yep, NONE of that actually happened, because Obama got re-elected.  ::)

Of course, you've yet to answer how a second term of Obama is going to fix unemployment and jobs when his first term didn't get it done (despite the lion's share of his policies being passed).


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: tbombz on November 14, 2012, 11:17:25 AM
250k per year is super wealthy. That's about 20,500 per month. Your earning more per month than a minimum wage worker gets for the year working 40 hours a week. You try 20 thousnd per month to spend on whatever you want. You can have an absolutely massive house, several brand new luxury vehicles, ray at every meal evey day at an expensive restaurant, to on nice vacations etc. The people who make 250k per year are only 3% of the population of I remember correctly.  And were ptalking about a VERY modest increase to their taxes.


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: whork on November 14, 2012, 11:17:49 AM
Bottom line is that it takes more $$$$ out of an already DOA economy that is not going anywhere.  

What is obama going to do with the $$$$?  

Pay of debt?

Or interests?


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: whork on November 14, 2012, 11:20:09 AM
PLEASE!!! Where's all this "compromise" when the voters reject the Democrats' ideas? The politics part is never over in Washington, regardless of who wins or loses.



Have you already forgotten who won the election?


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: Straw Man on November 14, 2012, 11:21:01 AM
So, S&P didn't downgrade our credit, during Obama's watch for the reasons stated IN ITS OWN REPORT.  

Unemployment isn't really higher than it was when Obama took office.

48 million people really aren't on food stamps.

The debt isn't really 16 trillion dollars.

Obama didn't really state unemployment would stay under 8%, if his stimulus passed.

Yep, NONE of that actually happened, because Obama got re-elected.  ::)

Of course, you've yet to answer how a second term of Obama is going to fix unemployment and jobs when his first term didn't get it done (despite the lion's share of his policies being passed).

correct and they said it was due to brinksmanship over the debt ceiling (remember when tea party dingbats did that ?)

 
Quote
We lowered our long-term rating on the U.S. because we believe that the
prolonged controversy over raising the statutory debt ceiling and the related
fiscal policy debate indicate that further near-term progress containing the
growth in public spending, especially on entitlements, or on reaching an
agreement on raising revenues is less likely than we previously assumed and
will remain a contentious and fitful process.

http://www.standardandpoors.com/ratings/articles/en/us/?assetID=1245316529563

http://www.getbig.com/boards/index.php?topic=446403.msg6404722#msg6404722


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: Soul Crusher on November 14, 2012, 11:21:05 AM
Pay of debt?

Or interests?

He is promising to spend more $$$$ remember?  


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: Straw Man on November 14, 2012, 11:21:39 AM
Have you already forgotten who won the election?

he hasn't forgotten he is just in full denial mode and wants to pretend it never happened and doesn't actually mean anything


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: Soul Crusher on November 14, 2012, 11:22:21 AM
Have you already forgotten who won the election?

GOP retained the house of reps


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: tbombz on November 14, 2012, 11:25:39 AM
Bringing up the "debt rating" "downgrade" is just plain silly in light of the fact that it was the rent eating agencies who are largely to blame for the financial collapse as they were giving mortgage backed securities bases entirely on sub prime loans AAA ratings. Lmao . "debt downgrade". Hahaha.


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: tbombz on November 14, 2012, 11:27:19 AM
Debt rating agencies


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: tu_holmes on November 14, 2012, 11:28:10 AM
GOP retained the house of reps

Of course... district lines certainly do favor that scenario as there are far more individual districts in the US.

Take North Carolina for instance... They even redrew those lines specifically for this reason.


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: MCWAY on November 14, 2012, 11:36:20 AM
250k per year is super wealthy. That's about 20,500 per month. Your earning more per month than a minimum wage worker gets for the year working 40 hours a week. You try 20 thousnd per month to spend on whatever you want. You can have an absolutely massive house, several brand new luxury vehicles, ray at every meal evey day at an expensive restaurant, to on nice vacations etc. The people who make 250k per year are only 3% of the population of I remember correctly.  And were ptalking about a VERY modest increase to their taxes.

You must not live in California or New York.


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: MCWAY on November 14, 2012, 11:38:22 AM
correct and they said it was due to brinksmanship over the debt ceiling (remember when tea party dingbats did that ?)

 
http://www.standardandpoors.com/ratings/articles/en/us/?assetID=1245316529563

http://www.getbig.com/boards/index.php?topic=446403.msg6404722#msg6404722

I just posted the S&P's report with that very same quote. Did you not see that?

Did you not also see my statement, before I quoted that report?

The downgrade happened ON OBAMA'S watch, not Bush's watch, and was the result of the Dems not cutting spending and the GOP not raising taxes.


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: MCWAY on November 14, 2012, 11:40:26 AM
Have you already forgotten who won the election?

Hardly!! But thanks for making my point. When Dems win the elections, the GOP is expected to just roll over and cave.

When they lose elections, however, not a peep about "compromise" comes from their end.


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: Grape Ape on November 14, 2012, 11:47:15 AM
250k per year is super wealthy. That's about 20,500 per month. Your earning more per month than a minimum wage worker gets for the year working 40 hours a week. You try 20 thousnd per month to spend on whatever you want. You can have an absolutely massive house, several brand new luxury vehicles, ray at every meal evey day at an expensive restaurant, to on nice vacations etc. The people who make 250k per year are only 3% of the population of I remember correctly.  And were ptalking about a VERY modest increase to their taxes.

You're wrong here, unless your context is no kids and a moderate location.

You're also ignoring taxes in your spending money calculation.


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: MCWAY on November 14, 2012, 11:50:36 AM
You are so incredibly wrong on this it's not even funny.

Aside from the fact that your "20k to spend each month" ignores taxes, you must have no clue what mortgage, sports, clothes, insurance, etc all cost for a family.

And it's not to say that it's not a good amount of money, because it is.  But it's not super wealthy at all.

It depends where you live. If you make that in Florida (particularly in the Tampa Bay area or in Jacksonville), you're living high on the hog.

I made a third of that in the mid-2000s and my family and I lived quite well. That's one income, with my wife staying at home with the kids.



Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: tu_holmes on November 14, 2012, 11:51:18 AM
You are so incredibly wrong on this it's not even funny.

In 2006, there were approximately 116,011,000 households in the United States. 1.93% of all households had annual incomes exceeding $250,000

So, no... they are NOT the super wealthy... but they are the top 2% of the US.

It's not the extreme wealthy, but they aren't starving... but, let's be honest with what we are talking about.

The plan is to only take an extra 4 cents off of every dollar OVER 250K...So from 1-250K, no change... on the next dollar OVER 250K, you pay an extra 4 cents... You really are not hurting.

I'm not saying it's the right number... Maybe make it 500K or something... COMPROMISE... but understand... You are NOT starving if you make that kind of money.

PERIOD.



Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: Grape Ape on November 14, 2012, 11:52:22 AM
It depends where you live. If you make that in Florida (particularly in the Tampa Bay area or in Jacksonville), you're living high on the hog.



Yeah, that's why I changed my post to talk about the context of location, kids, etc..


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: Dos Equis on November 14, 2012, 11:52:29 AM
You are so incredibly wrong on this it's not even funny.

Aside from the fact that your "20k to spend each month" ignores taxes, you must have no clue what mortgage, sports, clothes, insurance, etc all cost for a family.

And it's not to say that it's not a good amount of money, because it is.  But it's not super wealthy at all.

Correct.  And it doesn't take into account small business owners who may generate $250k, but after overhead make far less than that amount.  


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: Grape Ape on November 14, 2012, 11:53:59 AM
In 2006, there were approximately 116,011,000 households in the United States. 1.93% of all households had annual incomes exceeding $250,000

So, no... they are NOT the super wealthy... but they are the top 2% of the US.

It's not the extreme wealthy, but they aren't starving... but, let's be honest with what we are talking about.

The plan is to only take an extra 4 cents off of every dollar OVER 250K...So from 1-250K, no change... on the next dollar OVER 250K, you pay an extra 4 cents... You really are not hurting.

I'm not saying it's the right number... Maybe make it 500K or something... COMPROMISE... but understand... You are NOT starving if you make that kind of money.

PERIOD.



I don't disagree with this Tu.   But the whole mansion, multiple luxury cars, Robin Leach interpretation is ludicrous.   Like I said, context matters - family size, locale, etc..


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: tu_holmes on November 14, 2012, 11:54:35 AM
I don't disagree with this Tu.   But the whole mansion, multiple luxury cars, Robin Leach interpretation is ludicrous.

Yes... It is an extremely false view of what 250K buys in the world... absolutely true.


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: Shockwave on November 14, 2012, 11:56:18 AM
Yes... It is an extremely false view of what 250K buys in the world... absolutely true.
Are you saying that 250k a year doesn't buy a family a private Learjet? Who knew?   ??? ;D


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: Soul Crusher on November 14, 2012, 11:57:55 AM
Are you saying that 250k a year doesn't buy a family a private Learjet? Who knew?   ??? ;D

250k in NYC and surrounding areas is not rich at all.  Not even close. 

Obama is a thief and common pick pocket.  Its not like he wants the $$$ to pay down the debt.   He wants to keep the same ludicrous level of spending and even more! 


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: MCWAY on November 14, 2012, 11:58:41 AM
Yes... It is an extremely false view of what 250K buys in the world... absolutely true.

If you live in New York, you can kiss at least HALF of that goodbye.


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: Soul Crusher on November 14, 2012, 12:01:28 PM
If you live in New York, you can kiss at least HALF of that goodbye.

Exactly  - in NYC metro area people are already paying insane taxes.

Obama has no intention of curtailing spending and just wants the $$$ to piss away on more green energy scams and ball washing programs. 


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: Straw Man on November 14, 2012, 12:03:59 PM
I just posted the S&P's report with that very same quote. Did you not see that?

Did you not also see my statement, before I quoted that report?

The downgrade happened ON OBAMA'S watch, not Bush's watch, and was the result of the Dems not cutting spending and the GOP not raising taxes.[/i]


your statement above does not reflect the actual reasons given by S&P

debt ceiling nonsense was caused by Repubs and S&P also specifically mentioned the spending on entitlements as well as apparent failure to reach and agreement on RAISING revneue (i.e RAISING TAXES)


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: MCWAY on November 14, 2012, 12:09:01 PM

your statement above does not reflect the actual reasons given by S&P

debt ceiling nonsense was caused by Repubs and S&P also specifically mentioned the spending on entitlements as well as apparent failure to reach and agreement on RAISING revneue (i.e RAISING TAXES)




The very report that I cited first and you cited afterward says, "We lowered our long-term rating on the U.S. because we believe that the
prolonged controversy over raising the statutory debt ceiling and the related
fiscal policy debate indicate that further near-term progress containing the
growth in public spending, especially on entitlements, or on reaching an
agreement on raising revenues
is less likely than we previously assumed and
will remain a contentious and fitful process.


CONTAINING THE GROWTH IN PUBLIC SPENDING (i.e. Dems not cutting spending) and RAISING REVENUE (i.e. GOP not raising taxes).....do you need Braille or something?


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: Option D on November 14, 2012, 12:15:03 PM
Exactly  - in NYC metro area people are already paying insane taxes.

Obama has no intention of curtailing spending and just wants the $$$ to piss away on more green energy scams and ball washing programs. 
are you going to honor our bet


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: Soul Crusher on November 14, 2012, 12:15:43 PM
are you going to honor our bet

No.   

 :P


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: Straw Man on November 14, 2012, 12:15:59 PM
250k in NYC and surrounding areas is not rich at all.  Not even close. 

Obama is a thief and common pick pocket.  Its not like he wants the $$$ to pay down the debt.   He wants to keep the same ludicrous level of spending and even more! 

and you're a common person with a mental impairment who has so far caused no harm to others so we allow you to walk the street and you  get to pretend you're sane when everyone who meets you knows otherwise


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: whork on November 14, 2012, 01:11:19 PM
250k in NYC and surrounding areas is not rich at all.  Not even close. 

Obama is a thief and common pick pocket.  Its not like he wants the $$$ to pay down the debt.   He wants to keep the same ludicrous level of spending and even more! 

Why do you hate succes?


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: tbombz on November 14, 2012, 01:23:03 PM
If the number was raised to 500k people would still making the same arguments. That its not that much money if you have a large family to support, blah blah blah.  Same argument would he made if the number was a million.  There are billions of families across the world livin on a couple dollars per day. The full minimum wage earner in America is taking home aroud 15000 per year. And there are plenty of people working full time minimum wage jobs who have families to support.  250k is extremely wealthy and anything to the contrary is nonsense based on a warped view of how much material hopes are necessary in life.


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: tbombz on November 14, 2012, 01:25:43 PM
20k per month and crying about a 3% increase on taxes to pay for schools healthcare retirement police military fire protection LOL


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: Grape Ape on November 14, 2012, 01:30:40 PM
If the number was raised to 500k people would still making the same arguments. That its not that much money if you have a large family to support, blah blah blah.  Same argument would he made if the number was a million.  There are billions of families across the world livin on a couple dollars per day. The full minimum wage earner in America is taking home aroud 15000 per year. And there are plenty of people working full time minimum wage jobs who have families to support.  250k is extremely wealthy and anything to the contrary is nonsense based on a warped view of how much material hopes are necessary in life.


Except the discussion wasn't what 250k represented in relation to others.  Nobody is saying it's not a good number.  But it's not what you made it out to be when you talked of luxury cars and all that crap.   And you still ignore context.

You're changing the discussion, and still talking gross $$, not net.


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: whork on November 14, 2012, 01:34:26 PM
20k per month and crying about a 3% increase on taxes to pay for schools healthcare retirement police military fire protection LOL

This!!


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: tbombz on November 14, 2012, 01:35:31 PM
It is net income after all business deductions and before taxes.  If you can't buy a few luxury cars and a big house and eat at nice restaurants and go on vacations on that income then thee is some drastically unusual about your financial situation. 


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: tbombz on November 14, 2012, 01:36:14 PM
Business expenses


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: Grape Ape on November 14, 2012, 01:41:23 PM
It is net income after all business deductions and before taxes.  If you can't buy a few luxury cars and a big house and eat at nice restaurants and go on vacations on that income then thee is some drastically unusual about your financial situation.  

Net income on 250k after taxes, health, SS other retirement contributions is not 20k per month.  Cut in half and start over.

And you're still ignoring context of potential children and locale.


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: tbombz on November 14, 2012, 01:47:26 PM
After taxes it might be. 12k per month but that is still much more than enoug to live good anywher in the country and with a large family to support.  I would add that if you live in the most expensive urnam area that the need for automobiles and automobile insurance and gasoline all go away should make up for living costs


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: Grape Ape on November 14, 2012, 01:55:34 PM
After taxes it might be. 12k per month but that is still much more than enoug to live good anywher in the country and with a large family to support.  I would add that if you live in the most expensive urnam area that the need for automobiles and automobile insurance and gasoline all go away should make up for living costs

You just really don't have any clue when it comes to various locales, which is evident by your assumptions.

And I'm not trying to chastise you or anything, you're just wrong.   Your scenario works is select cases, but it doesn't in many more.


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: Straw Man on November 14, 2012, 02:04:14 PM


The very report that I cited first and you cited afterward says, "We lowered our long-term rating on the U.S. because we believe that the
prolonged controversy over raising the statutory debt ceiling and the related
fiscal policy debate indicate that further near-term progress [c]containing the
growth in public spending, especially on entitlements, or on reaching an
agreement on raising revenues[/b]is less likely than we previously assumed and
will remain a contentious and fitful process.


CONTAINING THE GROWTH IN PUBLIC SPENDING (i.e. Dems not cutting spending) and RAISING REVENUE (i.e. GOP not raising taxes).....do you need Braille or something?

I didn't even see your post and that quote is not in the post that I responded to
I posted that quote from S&P a week or so ago

It looks like we both agree on the cause of the credit downgrade but somehow I suspect we won't agree on who's fault it is


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: tbombz on November 14, 2012, 02:15:36 PM

Your right. If you want to live in a Manhattan penthouse and shower your 5 kids with brand new jordans and iphones then you might have to punch pennies on 250k per year


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: tu_holmes on November 14, 2012, 02:18:26 PM
I think TBombz is one of the guys who is unwilling to admit that there's a huge difference between making 250k and a cool Mil.

It's not even on the same level.


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: Grape Ape on November 14, 2012, 02:45:09 PM
I think TBombz is one of the guys who is unwilling to admit that there's a huge difference between making 250k and a cool Mil.

It's not even on the same level.


Given that he's devolved the discussion into sarcasm over substance, I'd agree.


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: tbombz on November 14, 2012, 02:50:22 PM
A million is 4 times greater than 250k. 


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: tbombz on November 14, 2012, 02:57:27 PM
If your having trouble getting by on 250k then either your personal consumption habits are completely put of control or you are giving put way too much monetary assistance to others. You can feed cloth and shelter a person for a couple thousand per year.


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: tu_holmes on November 14, 2012, 02:58:16 PM
If your having trouble getting by on 250k then either your personal consumption habits are completely put of control or you are giving put way too much monetary assistance to others. You can feed cloth and shelter a person for a couple thousand per year.

No... No you can't.





Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: Grape Ape on November 14, 2012, 02:58:41 PM
If your having trouble getting by on 250k then either your personal consumption habits are completely put of control or you are giving put way too much monetary assistance to others. You can feed cloth and shelter a person for a couple thousand per year.

Changing the argument again, strawbombz.  That wasn't the discussion.   I've said repeatedly it's a good income, better than most.


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: tbombz on November 14, 2012, 03:04:19 PM
tu Holmes, yes you can.  If someone is living off your dime then all you should be giving them is a about a 100-200 per month in food, a few hundred per year for clothes, and the extra utilities for the year would be just a few hundred as well. That's all you should be owting for. Anything in excess of that and your doing more harm than good by building a habit of dependance and living above their means and disincentivizing productivity. 


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: magikusar on November 14, 2012, 03:04:22 PM
fake it until you make it

obama is in the dictionary under that!


how about we cut 1T from budget?  all the green energy corps you fund go bust and fire everyone in 6 mo anyhow


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: tbombz on November 14, 2012, 03:08:10 PM
Grape Ape.    What's the argument then?


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: magikusar on November 14, 2012, 03:11:33 PM
congress spends the money and does budgets

not the prez

obama again posing

weird

doesn't he get separation of powers?


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: tu_holmes on November 14, 2012, 03:22:06 PM
tu Holmes, yes you can.  If someone is living off your dime then all you should be giving them is a about a 100-200 per month in food, a few hundred per year for clothes, and the extra utilities for the year would be just a few hundred as well. That's all you should be owting for. Anything in excess of that and your doing more harm than good by building a habit of dependance and living above their means and disincentivizing productivity. 

You are ridiculous.

The  cost of raising a child is 8500 bucks a year... You have NO idea what you are talking about it.

Go ask your parents how much you cost them.


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: Grape Ape on November 14, 2012, 03:51:40 PM
Grape Ape.    What's the argument then?

Re-read the thread it's all right there.    You were making the argument that 250k affords rich houses, multiple luxury cars, extravagant restaurants without context.   Once pressed, you changed the discussion, and even regurgitated a few points that were already discussed.


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: tbombz on November 14, 2012, 07:00:55 PM
I said you can have a big house a few luxury cars eat all your meals at give restaurants and go on vacations. And you can. one can always find exceptions to a rule, examples of people who life in expensive areasOr haveS family of 30 to support. But then again, those would be choices that person made. You don't have to live in an area with astronomical hoisong costs. You can commute and save money. You don't have to pay that much to support someone else either.


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: Grape Ape on November 14, 2012, 07:43:24 PM
I said you can have a big house a few luxury cars eat all your meals at give restaurants and go on vacations. And you can. one can always find exceptions to a rule, examples of people who life in expensive areasOr haveS family of 30 to support. But then again, those would be choices that person made. You don't have to live in an area with astronomical hoisong costs. You can commute and save money. You don't have to pay that much to support someone else either.

Your original statement implied a Robin Leach type life.  That's all.    I agree with you about the choices part completely.


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: tbombz on November 14, 2012, 08:11:26 PM
i dont know who that is  ;D


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: tbombz on November 14, 2012, 08:12:07 PM
You are ridiculous.

The  cost of raising a child is 8500 bucks a year... You have NO idea what you are talking about it.

Go ask your parents how much you cost them.
sounds like your spoiling the brat  :P 


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: POB on November 14, 2012, 10:59:39 PM
It's not 3% from dollar 1 it's 3% on AGI > 250k

if you have an AGI of 300k you'll pay an extra 3% on the amount over 250k

In this example it's an extra  3% of 50k or a whopping $1500

Beat me to it,exactly right


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: AbrahamG on November 14, 2012, 11:09:05 PM
The only problem is that the ones who agree are the ones not paying any taxes and collecting earned income credits.

To call this horseshit flawed logic is doing a disservice to flawed logic the world over.


Title: Re: Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.
Post by: chadstallion on November 15, 2012, 06:17:18 AM
Many Democrats disagree with Obama's number for "wealthy".

Tim Kaine has used the number 750,000.

I believe you will see this 250K number moved upward ...

yup