Massive Tax Increases Loom

[carpro]

http://www.cnsnews.com/public/content/article.aspx?RsrcID=43924

Massive Tax Increases Loom as Democrats Begin to Talk Fiscal Responsibility

Monday, February 23, 2009
By Matt Cover

(CNSNews.com) – With massive tax increases waiting in the wings for American taxpayers when the Bush tax cuts end in 2010, the Obama administration and Congressional Democrats will soon turn their attention to taxes.

 

[Steven2006]

http://www.cnsnews.com/public/content/article.aspx?RsrcID=43924

Massive Tax Increases Loom as Democrats Begin to Talk Fiscal Responsibility

Monday, February 23, 2009
By Matt Cover

(CNSNews.com) – With massive tax increases waiting in the wings for American taxpayers when the Bush tax cuts end in 2010, the Obama administration and Congressional Democrats will soon turn their attention to taxes.

The article you linked was poor and inaccurate reporting. They use old quotes and go on to make inaccurate statements about the proposed tax increases.

“I want to eliminate the Bush tax cuts,” Obama told CNN’s Wolf Blitzer in a May 2008 interview.

Obama also said, in a June 2007 Democratic debate at Washington, D.C.’s Howard University, that repealing the Bush tax cuts

The tax cuts are set to expire in 2010 unless Congress renews them, meaning their expiration would amount to an across-the-board tax increase for Americans who pay income taxes, roughly 60 percent of the country.

But unless Congressional Democrats act to prevent it, every income tax bracket will rise, with the lowest tax bracket experiencing the largest increase – jumping from 10 percent to 15 percent of income.

Here is what is now actually proposed. The same thing was said many times as well during the campaign.
http://www.washingtonpost.com/wp-dyn/content/article/2009/02/21/AR2009022100911_pf.html

Obama also seeks to increase tax collections, mainly by making good on his promise to eliminate some of the temporary tax cuts enacted in 2001 and 2003. While the budget would keep the breaks that benefit middle-income families, it would eliminate them for wealthy taxpayers, defined as families earning more than $250,000 a year. Those tax breaks would be permitted to expire on schedule in 2011. That means the top tax rate would rise from 35 percent to 39.6 percent, the tax on capital gains would jump to 20 percent from 15 percent for wealthy filers and the tax on estates worth more than $3.5 million would be maintained at the current rate of 45 percent.

 

[Ed Edwards]

Taxed - the past tense of 'tax'

Ed's short list of terms & phrases used by Politicians & what they mean

Allow casinos --tax Ed more
Allow horse racing --tax Ed more
Allow non-profit bingo --tax Ed more
Change --tax Ed more
Enable Education tax --tax Ed more
Lower taxes --tax Ed more
Raise taxes --tax Ed more
Reduce taxes --tax Ed more
Road tax --tax Ed more
Tax offset --tax Ed more
Tax the rich --tax Ed more
Tax the poor --tax Ed more
Tax the fat cat --tax Ed more
Temporary tax --tax Ed more permanently
Xenophobic tax - --tax Ed more
Yo Tax --tax Ed more


Classic statement by the first Pres. Bush:

READ MY LIPS! No New Taxes

Actually, he said 'No blue Thoraxes.
I've examined insects since this declaration of the first Bush, I have seen exactly No Blue Thoraxes! read thoraxes, yellow thoraxes, brown thoraxes, but absolutely No Blue Thoraxes!

 

[LeBuick]

http://www.cnsnews.com/public/content/article.aspx?RsrcID=43924

Massive Tax Increases Loom as Democrats Begin to Talk Fiscal Responsibility

Monday, February 23, 2009
By Matt Cover

(CNSNews.com) – With massive tax increases waiting in the wings for American taxpayers when the Bush tax cuts end in 2010, the Obama administration and Congressional Democrats will soon turn their attention to taxes.

Carpro, not to ask a personal question but will you be impacted when the tax cuts expire? I don't make anywhere close to $250K so I know I am not included in the expiration of loopholes and red tape but I can see how you would be concerned if you will get hit (like Ed...)

 

[Steven2006]

Carpro, not to ask a personal question but will you be impacted when the tax cuts expire? I don't make anywhere close to $250K so I know I am not included in the expiration of loopholes and red tape but I can see how you would be concerned if you will get hit (like Ed...)

In fairness to Carpro, that article he linked was so inaccurate that one could make the argument it outright lied. So if he read only that article he could easily have come to the conclusion that everyone's taxes were going to go up.

 

[Ps104_33]

 

[carpro]

The article you linked was poor and inaccurate reporting. They use old quotes and go on to make inaccurate statements about the proposed tax increases.]

Old quotes?

I see. He was lying.

We know Obama is a huge liar, second only to Slick Willie, but he's still perfecting his skills.

One would have to be an absolute partisan nut not to see what's coming.

Piddling , do nothing tax cuts for some , welfare disguised as a "tax cut" for some, and huge economy crippling tax increases for corporations, businesses and the investors that drive the economy and create jobs that aren't paid for by tax dollars.

It's elementary math.

National bankruptcy is the only possible alternative.


Quote:

“I want to eliminate the Bush tax cuts,” Obama told CNN’s Wolf Blitzer in a May 2008 interview.

Obama also said, in a June 2007 Democratic debate at Washington, D.C.’s Howard University, that repealing the Bush tax cuts

The tax cuts are set to expire in 2010 unless Congress renews them, meaning their expiration would amount to an across-the-board tax increase for Americans who pay income taxes, roughly 60 percent of the country.

But unless Congressional Democrats act to prevent it, every income tax bracket will rise, with the lowest tax bracket experiencing the largest increase – jumping from 10 percent to 15 percent of income.

Every single word is the absolute truth.

Liberal spin won't changge it.

 

[Plain Old Bill]

Ed I love your twisted brain. You are a hoot and a half.:laugh: :laugh: :laugh:

 

[LeBuick]

The article you linked was poor and inaccurate reporting. They use old quotes and go on to make inaccurate statements about the proposed tax increases.]

Old quotes?

I see. He was lying.

We know Obama is a huge liar, second only to Slick Willie, but he's still perfecting his skills.

I'm not denying he doesn't lie, he's a politician but he just cut the taxes for 95% of the workers so he came through on that as promised. And unless you make more than $250K your taxes will not go up. The Bush tax cuts were not for you, they were for the rich.

 

[Andy T.]

The Bush tax cuts were not for you, they were for the rich.

Why do you keep repeating this blatant lie? You need to repent of this. Under the Bush tax cuts as enacted under EGTRRA '01, I pay around $3,500 less per year in federal taxes than I would have without the changes. And I make nowhere near $250,000. And there are people making less than I do, who have about the same dollar benefit in tax relief, which means their % savings is even greater than mine.

Repent. Seriously.

 

[LeBuick]

Why do you keep repeating this blatant lie? You need to repent of this. Under the Bush tax cuts as enacted under EGTRRA '01, I pay around $3,500 less per year in federal taxes than I would have without the changes. And I make nowhere near $250,000. And there are people making less than I do, who have about the same dollar benefit in tax relief, which means their % savings is even greater than mine.

Repent. Seriously.

Not the ones Obama is letting expire. You are the one who needs to repent, you can't see that the President just gave you a tax cut and insist on believing he is raising YOUR taxes. He has made it very clear that the increases he is doing are for those over $250K. I have nothing to repent for unless telling the truth is wrong.

However, the last I read bearing false witness was a sin.

 

[windcatcher]

I don't know or care about what the article says.... But I heard the President's speach, twice. He talked a good talk and had a little something to say to just about everyone to make them feel good. But what I really focused on was the spending.... and most of it with what Washington has determined is good for the country.... so there will be strings attached... and some will produce programs which are not sustainable without choosing either to increase the debts further or gain revenue. I heard what he promised about not taxing or reducing taxes on those under the $250 K gross income: But I also heard his statement regarding balanced budgets, deficits, and burdening future generations with the debts.... and referenced himself as a father with children to impact his views. There is no way under God's creation that this pkg, and the ones before it... and the already hugmongous debt can ever be satisfied..... even through heavy taxation of all of us unless there's a plan to exchange properties or natural resources in our country to satisfy the debt or its accumulating interest. This is the very situation which has played out in poorer countries who have appealed to us for help, accepted it on our terms..... which were brokered by bankers and industry, and resulted in a wealth grab which deprived their own citizens of a slowly persistant and growing economy, which was non competitive with modernization but was progressing until the desire for quick gains overtook their sensibilities or their stabilities.

For those of you who think your income will not be taxed: Think again. I only have to look at my light bill...... and I see this tax and that tax, and franchise fees, and fuel adjustment fees: I buy fuel for my car or lawn mower and pay taxes. Each year my property is adjusted upward in value, and even a reassessment due to age and hurracane damage and some repair needs, or the difference between the current codes and those of 25+ years ago.... does not reflect the depreciation: The land is valued alone at $11,000 /for the slightly under an acer, while similar land is selling for $3000/ an acer for home building within a 3 mile radius in all directions. My phone bill has so many several taxes added for this and that. Purchases are taxed. What about each of you..... reading this? You may considered only your income tax..... but there are many other ways which you are taxed.... by local, state and federal government...... and it is on your income.... and the way you determine to distribute it for your needs or wants. You have little choice in these matters. You may hear a promise not to raise income tax. Is this true? Is it possible......or even probable that this could be made true and yet you are taxed on more things, both overt and covert for which your income goes? When the poor may spend 25% of their budget for family necessities of food, clothing....... but the rich with the same family size for the same necessities spend only 5% of their income for the exact same provisions, who is really being taxed more? Now of course this does not consider that the rich have more discretionary income to dispose of and have greater taxes than the poor....... but it does mean that they have the manipulating room within their budgets more for choices than the poor who must consider mostly necessities and few luxuries. I don't think there is any fairness in taxes and I don't think it is right to penalize and divide rich and poor into classes and divisions. Both have the right to expect just returns for honest labor. It is usury which makes greed without work abound. It is taxes which enslave both rich and poor alike who can find no escape.

And the folks in Washington take taxpayer funded trips to Alaska, or Rome, or the Artic, but bash the jets purchases and trips of the CEO's of industry or financial institutions as a hypocritical show of righteous indignation on our behalf. Give me a BREAK. Neither Obama, and even less so this Congress and Senate have our interest at heart. And they weave stories which sound good on the surface but are full of intended lies and deceit, intended to placate and patronize us into feeling good stupidity and slumber! They go to a audience before each other and make high speaches and applaud each other: Before us they stand proud and boastful and feed us with lies and promises and we go away saying we're satisfied? They mock us with their stories of history revisions, they mock us with their speach and laughter and applause. "We the people, we the people" we say..... and all the while, most of them do not care about 'the people' ..... except to feed us lip service!

 

[LeBuick]

For those of you who think your income will not be taxed: Think again.!

So despite what the president said and despite the fact that he's already kept his promise of a tax cut for 95% you know better so we should listen to you instead of the fact that we've already received our tax cut. You guys say out of one side of your mouth that the president is an alarmist then out your other side you sound the alarm... Can't you decide if alarmist is good or bad???

 

[windcatcher]

So despite what the president said and despite the fact that he's already kept his promise of a tax cut for 95% you know better so we should listen to you instead of the fact that we've already received our tax cut. You guys say out of one side of your mouth that the president is an alarmist then out your other side you sound the alarm... Can't you decide if alarmist is good or bad???

You don't know what you're talking about! Alarmist? This President? Is that what you call him?

If you're calling me this, then you have a right to your opinion as much as I've to mine. You think I really care? I think you can't read with comprehension so there!

 

[Andy T.]

Not the ones Obama is letting expire. You are the one who needs to repent, you can't see that the President just gave you a tax cut and insist on believing he is raising YOUR taxes. He has made it very clear that the increases he is doing are for those over $250K. I have nothing to repent for unless telling the truth is wrong.

However, the last I read bearing false witness was a sin.

You said, "The Bush tax cuts were not for you, they were for the rich." I've seen you make similar statements. I proved this was a lie. Now you are changing it and saying only the ones Obama is letting expire. We don't know what ones he will let expire or the ones he will keep, since the legislation hasn't been proposed yet. Also, I never said Obama is raising my taxes. We'll see on that. If he raises taxes on my boss (the evil rich man), it could affect me directly, though. I don't want anyone's taxes to be raised.

I have told no lies. I simply stated facts. Now you have two things to repent of - lying about the Bush tax cuts (they weren't just for the rich - in fact they helped the middle class more from a % standpoint), and also for saying that I lied.

 

[LadyEagle]

I have told no lies. I simply stated facts. Now you have two things to repent of - lying about the Bush tax cuts (they weren't just for the rich - in fact they helped the middle class more from a % standpoint), and also for saying that I lied.

Yep, because calling or insinuating someone here is a liar is clearly a personal attack and against the board rules and you know that, LB. Too bad that one slipped by me.

 

[KenH]

Yep, because calling or insinuating someone here is a liar is clearly a personal attack and against the board rules

Then why are people allowed to call President Obama a liar time after time after time on this board is calling a someone is a liar on this board?

 

[LeBuick]

Why do you keep repeating this blatant lie? You need to repent of this.

Repent. Seriously.

So I wasn't called or "insinuated" a liar first LE? Am I the only one who should be warned?

Andy, Obama has stated back to the campaign which Bush cuts he was going to reverse. He has said since day one it would impact those who make more than $250K. Pretending he hasn't or deciding this isn't a fact is misrepresenting his statements. That is also bearing false witness.

You are the only one who says your boss is the evil rich man. No one calls rich people evil but it goes without saying there are some rich people who are evil. The Government has huge deficit which is rising by the day. It's a tough decision but more tax revenue is needed without argument. Remember, the Bush budget given Obama had huge deficit and hid numbers like the wars. With the state of the economy, raising taxes on the middle class and poor is dumb which I think we agree. So who does that leave with money who can help? I don't think the rich is evil but these are tough times and tough decisions are needed...

 

[Revmitchell]

The Government has huge deficit which is rising by the day.

And you can thank the Dems for that.

 

[Andy T.]

So I wasn't called or "insinuated" a liar first LE? Am I the only one who should be warned?

I said you lied about the Bush tax cuts only helping the rich, which was shown to be clearly wrong. Maybe you were just mistaken or misinformed. It's up to you to clear that up. I think there is a difference between calling someone a liar and merely saying they lied, but that's up to the mods to decide, I guess.

Andy, Obama has stated back to the campaign which Bush cuts he was going to reverse. He has said since day one it would impact those who make more than $250K. Pretending he hasn't or deciding this isn't a fact is misrepresenting his statements. That is also bearing false witness.

I know what Obama promised in his campaign. I also know politicians say a lot of things on the campaign. I also know this is the same politician who said he wanted fewer abortions, but in his first week in office he signed an executive order that will increase abortions. So far, Congress has not proposed any legislation addressing the Bush tax cuts that will expire in 2010. We'll see what finally gets enacted. I'm not pretending or anything - I'm just waiting and seeing. I hope he doesn't go back on his promise, but nothing would surprise me. I have not bore false witness or misrepresented anything.

The Government has huge deficit which is rising by the day. It's a tough decision but more tax revenue is needed without argument. Remember, the Bush budget given Obama had huge deficit and hid numbers like the wars. With the state of the economy, raising taxes on the middle class and poor is dumb which I think we agree. So who does that leave with money who can help? I don't think the rich is evil but these are tough times and tough decisions are needed...

Or we could cut taxes for everyone and watch the economy grow, as has happened every time it is done. When the economy grows, that means a higher tax base, which increases revenue. It's simple math. Economy A produces $100 with a tax rate of 30%, generating $30 in gov't revenue. Economy B produces $200 with a tax rate of 20%, generating $40 in gov't revenue. Which one do you take?

Meanwhile, Congress should work on cutting spending to address the deficit.