Will Obama toss 98% of America under the bus, just to punish 2%
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Then lets let the cuts expire for everyone, and let the Dems take full credit. I actually paid taxes in the Clinton era. I remember the "marriage penalty" all too well. The huge (by my standards) checks I had to write in April under those rates, especially after getting married. I had to frickin' borrow money on my c-card to make tax payments, since my withholding was set for when I was single most of the year. No, it wasn't good. I actually dug out my old returns after the BTCs went into effect in the early 2000s and ran the numbers under the Clinton rates (with my current income). The difference was several thousand dollars, on a lower middle class income. IIRC, I read that the average household will pay some $2200 more per year if Obama raises taxes as scheduled. That is a very large portion of my annual discretionary income.
Still, I'm willing to pay if, if that is what it takes to provide an education the American voter seems to need.
I can't believe you all are still arguing about this. McCaskill already made clear what the Dems are doing. If the Repubs refuse to agree to Obama's plan on the very wealthy, they will let the tax cuts expire, then they will introduce a bill that cuts taxes on the other 98%. The question thus becomes, will the gop vote against a tax cut for 98% of Americans. I doubt they will. Therefore, the ultra rich will have their rates raised. Pretty much end of story.
I hear what you are saying and I agree BUT it doesnt put a dent in 17 TRILLION dollars....do the math. This is feel good cuts with feel good tax increases on a small segment of earners. The only road to fiscal solvency is going to be very painful spending cuts and nobody has the guts to propose what is necessary.....it will take several more years before the reality hits us but it will come and the longer we wait to do whats necessary....the more it's going to hurt.
I can't believe you all are still arguing about this. McCaskill already made clear what the Dems are doing. If the Repubs refuse to agree to Obama's plan on the very wealthy, they will let the tax cuts expire, then they will introduce a bill that cuts taxes on the other 98%. The question thus becomes, will the gop vote against a tax cut for 98% of Americans. I doubt they will. Therefore, the ultra rich will have their rates raised. Pretty much end of story.
Yup, you're correct, over the cliff and a bill will be passed to cut taxes on the 98% but the other side of the fiscal cliff is more severe cuts than are currently being proposed and this is GOOD. Might cause a recession but take the bitter medicine now or die of the terminal disease later.
Yup, you're correct, over the cliff and a bill will be passed to cut taxes on the 98% but the other side of the fiscal cliff is more severe cuts than are currently being proposed and this is GOOD. Might cause a recession but take the bitter medicine now or die of the terminal disease later.
How do you cut taxes for people already not paying anything at all in income tax???
Newsflash..the GOP controlled house has already passed bills that would extend the tax cuts. If he chooses to veto them, or the Senate doesn't take them up, the Dems own this. Remember that in JA when you open your paycheck.
Tax cuts are just part of a large effort to reign in the debt,it will comprise much more than just tax cuts and added taxes for the rich it will also require a reduction in military infrastructure and spending, much rolling back of social programs and entitlement programs, much streamlining in government operation.and healthcare reforms etc..
The country is trying to deal with massive debt so its not unreasonable to expect every one to be inconvenienced in some small way, if you think the problem is going to be solved on the backs of the poor you'll just end up spending any savings you may make on food stamps with extra policing due to the resultant higher crime rates.
While i'm not that optimistic that the Obama tax plan will totally solve the fiscal crisis the plan is on the table and its now up to the house and senate to sign it.
Does anyone besides me-self wonder why when a democrat took the office of the presidency that all of a sudden conservatives got conservative? There were no balanced budgets from 2000 to 2007.
The so-called "Bush Tax Cuts" are about to expire. When passed, the Republican controlled congress wanted to make them permanent for all Americans. Yet to appease Dems, they agreed to allow them to expire in 10 years if nothing was done to correct the situation.
The house has passed numerous bills that would extend them or make them permanent. Yet our petulant president is threatening to veto any extension of these cuts, unless he gets the chance to punish the top 2 percent of income earners.
What do you think...will he throw a wittle tantrum and toss 98% of America under the bus if he doesn't get his way? Honestly...I don't really care. American voted for Democrats, let them enjoy the tax increases they bring. Maybe people will finally understand that elections have consequences.
So, where will you cut back to pay the extra ~$200 per month in taxes, brought to you courtesy of Obama?
Yes we are headed over the cliff
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