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Democrats lower taxes for small businesses and middle class as GOP works to extend tax cuts for rich | House Democrats The Democratic-led 111th Congress has enacted over $800 billion in tax cuts to help working families who are struggling to make ends meet. Through extensive tax credits and job-creating incentives, Democrats are spurring job creation and ensuring that we can compete in the global economy of the future. Because of these initiatives, tax refunds are already up 10 percent, pushing the average refund up to a record $3,000 per taxpayer.
While Democrats are working to reduce taxes for the middle class, Republicans continue their traditional support for cutting the taxes of the ultra-rich.
Tax increases signed by Obama into law $17B new taxes for those who do not purchase health insurance $52B new taxes for those who fail to comply with government insurance mandates $32B in a new 40% exercise tax on high cost health plans $5B cost of new ban on over the counter drugs using money from FSAs, HSAs, HRA's. $210.2B Increased medicare taxes on wages and self employed income by .9% and imposes a 3.8% surtax on other investment income. $15.2B cost due to an increase from 7.5% to 10% of income in threahold after which individuals can deduct out of pocket medical expenses $13B due to a $2,500 annual cap on FSA contributions $60.1B in new taxes on health insurances $27B annual tax on brand name pharmaceuticals $20B tax from a 2.3% excise tax on medical devices $2.7B tax from a 10% tax on tanning services $2.6B tax on insured and self insured health plans $1.4B penalty tax on non qualified HSA distributions $4.5B tax due to the elimination of a deduction for expenses allocatable to Medicare Part D subsidy $600M tax due to limited deductions for compensation to officers, employers and directors of health insurance providers $17.1B to require information reporting on payments to corporations. $400M to impose additional requirements for section 501(c)(3) for hospitals $23.6B tax credit removed a "black liquor" needed for cellulosic biofuel producer. $4.5B Codify economic substance doctrine and impose penalties for underpayments. $65.5B tax hikes in the SCHIP bill $6.97B tax hike in the stimulus bill to repeal guidance allowing taxpayers to claim losses from acquired corporations $2.578B tax hike in unemployment benefits law creating a surcharge tax extension through 6/11 $20.123B cost to delay the rules to reduce the double taxation of american employers until 2018.
Total tax hikes so far under Obama $670.341 BILLION, many of which hits EVERYONE.
Ignoring the tax increases while celebrating the cuts is a foolish thing to do.
Tax increases signed by Obama into law $17B new taxes for those who do not purchase health insurance $52B new taxes for those who fail to comply with government insurance mandates $32B in a new 40% exercise tax on high cost health plans $5B cost of new ban on over the counter drugs using money from FSAs, HSAs, HRA's. $210.2B Increased medicare taxes on wages and self employed income by .9% and imposes a 3.8% surtax on other investment income. $15.2B cost due to an increase from 7.5% to 10% of income in threahold after which individuals can deduct out of pocket medical expenses $13B due to a $2,500 annual cap on FSA contributions $60.1B in new taxes on health insurances $27B annual tax on brand name pharmaceuticals $20B tax from a 2.3% excise tax on medical devices $2.7B tax from a 10% tax on tanning services $2.6B tax on insured and self insured health plans $1.4B penalty tax on non qualified HSA distributions $4.5B tax due to the elimination of a deduction for expenses allocatable to Medicare Part D subsidy $600M tax due to limited deductions for compensation to officers, employers and directors of health insurance providers $17.1B to require information reporting on payments to corporations. $400M to impose additional requirements for section 501(c)(3) for hospitals $23.6B tax credit removed a "black liquor" needed for cellulosic biofuel producer. $4.5B Codify economic substance doctrine and impose penalties for underpayments. $65.5B tax hikes in the SCHIP bill $6.97B tax hike in the stimulus bill to repeal guidance allowing taxpayers to claim losses from acquired corporations $2.578B tax hike in unemployment benefits law creating a surcharge tax extension through 6/11 $20.123B cost to delay the rules to reduce the double taxation of american employers until 2018.
Total tax hikes so far under Obama $670.341 BILLION, many of which hits EVERYONE.
Ignoring the tax increases while celebrating the cuts is a foolish thing to do.
Come on PGH...There you go again with FACTS
You know libs hate facts.
In a hypothetical world, if the Democrats adopted lowering taxes would they attract the wealthy educated subset of the Republican party leaving the party with only the lower income poorly educated white subset?
..and if democrats believed in personal responsibility, the US Constitution, capitalism, property rights, human rights for children, infant and the unborn, state's rights, limited federal government, yadda, yadda, yadda. It's not going to happen as long as the current lib'tards run the democratic party.
In a hypothetical world, if the Democrats adopted lowering taxes would they attract the wealthy educated subset of the Republican party leaving the party with only the lower income poorly educated white subset?
In a hypothetical world, if the Democrats adopted lowering taxes would they attract the wealthy educated subset of the Republican party leaving the party with only the lower income poorly educated white subset?
Democrats lower taxes for small businesses and middle class as GOP works to extend tax cuts for rich | House Democrats The Democratic-led 111th Congress has enacted over $800 billion in tax cuts to help working families who are struggling to make ends meet. Through extensive tax credits and job-creating incentives, Democrats are spurring job creation and ensuring that we can compete in the global economy of the future. Because of these initiatives, tax refunds are already up 10 percent, pushing the average refund up to a record $3,000 per taxpayer.
While Democrats are working to reduce taxes for the middle class, Republicans continue their traditional support for cutting the taxes of the ultra-rich.
The tax rate on people who make $34,000 is 15%
The tax rate on people who make $82,000 is 25%
The tax rate on people who make $370,000+ is 35%
The Bush tax cuts also increased the standard deduction by over $2,000 and increased the child tax credit by $400, which took tens of thousands of people off the tax roles in the 15% income bracket.
What tax breaks for the rich??? 35% tax rate vs a 15% tax rate, (which means the 15% rate is essentially a 0% tax rate for many)..
If Dems lowered taxes their leftist base would split and form a new party because high taxes on the rich are needed to maintain the entitlement state and support the entitlement class, which is what keeps Dems in power. Look at how hard they fought to force union workers to have their dues auto-deducted from their paychecks. Republicas still wouldn't vote for Dems even if they lowered taxes because the Dems would still be the party of big goverment, the nanny state, and baby killers. Why vote for a fiscal conservative socially bankrupt party when you can vote for a fiscal conservative that actually has moral values?
Ummm, you missed a few other things. It's not like lower taxes is the only difference between the republican party and democrat party now.
I never said and I'm aware there are more difference like increased spending by the Democrats. But again, my question is if the Democrats adopted the Republican strategy to lower taxes would the wealthy educated subset start voting Democrat since many libertarians and many Americans vote Republican to save taxes but do not believe in the conservative social policies associated with the Republicans.
What would lead you to believe that, since no demo has every made any effort to move even slightly to the center.../?
You mean like President Obama who has maintained the Bush tax cuts, maintained GITMO and continued the war.
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