I loved President Obama's phraseology when he announced this tax
increase."The money we are spending on this tax cut ...".
The only way this makes sense is if you believe that every dime earned by every
person in America belongs to the federal government. That is the only way that
you could correctly state that a tax cut is a payment of the federal government.
Of course, the media won't bat an eye at this language and the
liberals actually applauded. Welcome to American vassalhood.
Just last month Obama was blaming the Bush tax cuts for all his economic
problems and now he is supporting them? Amazing hypocrisy in the White House.
Good for him! It is the working class that are suffering in this economic time.
We already gave more than enough, through tax cuts and benefits, to the rich
even though they are the ones who have profited so well on the backs of the rest
Mountainman, I can see why you are confused. It is the tax cuts to the already
wealthy, Obama is against not to the working middle class..
zzzzzzzzz.........wake me if he has something real to say
@ annewondering. No, actually I am not confused at all. Most small businesses
will be harmed because they have income over $250,000. Excluding them in the tax
cut means they will pay more taxes and that will kill jobs! Nearly 80% of all
income taxes paid to the federal government are paid by the wealthiest Americans
while nearly 50 of Americans pay no federal income taxes at all! Only people who
have never actually run a real business, like Obama, think the
“rich” don’t pay their fair share!
The last 30 years have seen the 1% increase their wealth at unprecedented rates.
They've seen very very very good times while the middle class has
stagnated. Increasing tax rates on the 1% will not change their very very very
good times to bad times. It will only take away one of the very's and
hopefully give that one to the other 99%. It would be nice to have 100% of the
U.S. population making standard of living gains rather than just the priviledged
What a bunch of hooey. Yes extend some small tax cut then KILL us all with the
new Obamacare tax increases. Sorry liberals but Judge Roberts just exposed
Obamacare for what it REALLY is - a huge tax increase for everyone.
Mountainman,This is individual tax rates, not business tax rates.
If a small business has to cut someone from the payroll because of an increase
to an individual tax rates, the small business needs help as they aren't
following the tax rates correctly.This means that if you work as a
nanny, house keeper, butler or similar position, your job might be in danger as
your boss has to pay 3% more in taxes.If you work at a small bakery,
you are fine as the business taxes aren't changing. If your small bakery
has someone making more than $250,000 a year, that person is stopping you from
expanding.Most small business owners don't make more than
$100,000 a year, let alone $250,000. The tax cuts for the rich hasn't
saved nor created 1 job that survived the recession yet the rich have increased
their wealth by more than 50% in that time. So who are the tax cuts for the
rich really helping?
So I assume that $250,000 is considered "middle income", or "middle
class"? We make about $60,000 before taxes and other deductions, so
I'm guess we are lower middle, or nearly poverty? What we earn is pretty
good, but it doesn't cover all the required bills, like mortgage,
utilities, medical bills, etc. We don't go on vacation, don't buy
anything extravagant, drive 1995 and 1997 vehicles, and still struggle to make
ends meet. Food is expensive, our prescriptions are expensive, gasoline is
expensive, still paying for my husband's surgery. I'm 65 and would
love to retire, but with nothing to retire on (since our IRA accounts all but
disappeared when stocks, etc., took a nose dive a few years ago) but Social
Security, I can't retire in the foreseeable future. If you are young,
please find a way to save money for retirement NOW, before time flies and
catches you by surprise!
re:Oh My HeckYou make 60K and you probably thought you would be
exempt from Obama's tax increases - right? Sorry Charlie but we will all
pay our new "fair share" with the GIANT new tax increase coming down
road with Obamacare like an out of control semi on icy roads. Just some of the
small print Barack failed to mention.... Just ask Judge Roberts.
I have health insurance. I've carried health insurance since I was legally
an adult. So for me and those like me, the AFA will not cost me anything. In
fact, I fully expect to see my premiums decrease as those who have been getting
free health care are required to get health insurance. And those who have
wanted health insurance coverage but have been denied will be able to purchase
health insurance. AFA will only be a 'tax increase' on those who have
been skimming the system up until this point.
Hearing Americans talk about "the rich", "the middle class", and
"the poor" is a joke to me. It's like three princes fighting over
whose castle is bigger. Yes, "the poor" in the US are princes,
comparably.According to UNU-WIDER, if you have more than $2,200
total in money or stuff (assets), you are in the top half of the world (or you
are upper-middle class in global standards). If you have about $60,000 in
assets, you are globally rich (top 10%). The US poverty line is about $11,000
per year, making "our poor" really upper-middle class global citizen.
If the “rich” pay the increased taxes that Obama wants, it might
bring about $8.5 billion more to the treasury, at least at first. Today, the
federal government spends nearly $8.5 billion every day! Clearly, the problem is
NOT that the rich need to pay more taxes, the problem is that the government is
SPENDING too much money and taxing the “rich” will not solve the
problem! Romney knows that, Obama doesn’t or doesn’t want us to know
it! Romney’s job is to tell America the truth! If he does, he wins!
wonderful - Joe Average doesn't get hit with a tax increase from tax man
Obama however Joe is looking for a job - desperately looking for a job - and the
small business's that Joe is applying at just cut all of their job openings
due to the tax INCREASE they will get hit with from the same Obama at the end of
the year. Seems to me what we really need is NO tax increase at all for
anyone... but the only way for that to happen is if Romney wins in November and
Obama is booted out. The real question is this - are there enough informed ,
smart Americans who see through the Obama tax the rich class warfare?