Obama starts 2nd term w 1.6 Trillion Tax Hike proposal.

[Soul Crusher]

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!!!!    

[chadstallion]

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.

[tonymctones]

No spending cut proposal?

[Soul Crusher]

No spending cut proposal?

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

[Vince G, CSN MFT]

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.

[240 is Back]

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.

[GigantorX]

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.

[pwrnxs]

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.

[GigantorX]

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.

[240 is Back]

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.

[Shockwave]

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.

[mogulgangi]

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

[GigantorX]

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.

[magikusar]

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

[Grape Ape]

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.

[Soul Crusher]

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. 

[GigantorX]

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.

[War-Horse]

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.   

[tu_holmes]

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.

[Straw Man]

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

[Straw Man]

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 ?

[Straw Man]

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

[Straw Man]

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

[Option D]

Some areas, 250k (for a family) is considered lower middle class.

Where?

[War-Horse]

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.