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Doesn't anybody suspect this may be just a ploy to look good to the middle class?
He propses it, it doesn't pass and he comes out looking like he cares to the voting block that ain't too thrilled right now.
The really rich aren't worried about it,I'll bet.
That's exactly obama's strategy, because he certainly can't run on his record.
He will filch from Truman and run against a "do nothing" congress. I doubt that will fly, considering his record that republicans WILL run on.
Doesn't anybody suspect this may be just a ploy to look good to the middle class?
He propses it, it doesn't pass and he comes out looking like he cares to the voting block that ain't too thrilled right now.
The really rich aren't worried about it,I'll bet.
Campaign fodder.
Look at me and what I want to do FOR YOU.
But Congress wouldn't let me. Not my fault.
Re-elect me and I'll keep trying though.
Kennedy cut the rate from 91% to 70% and government revenues increased.
The same has been true for 70+ years. Not sure why these liberals expect things to change simply because they wish it to.
Federal outlays and revenues, 1930-2015 as a percentage of the GDP - Federal Budget Charts - National Priorities Project (http://nationalpriorities.org/resources/federal-budget-101/charts/general/federal-outlays-and-revenues-1930-2015-perc-gdp/ - broken link)
It's just a gimmick to get the little people excited. "Woohoo! He's taking the money from the evil rich and sharing it with us! We love Barack Obama! Woohoo!"
Pass it, and it won't bring anywhere close to $700 billion. People with incomes above a million are smart enough to get under the tax rates. It's just a shiny ball to get liberals excited.
I would love for the Republicans to make him go on record with how much money this tax would bring in. Then agree in writing to use that amount to fund Obamacare. And if it fails to create the revenue, end Obamacare and the tax. That will end the talk of this tax really quick.
This is why it's a tax. Buffet alone throwing pennies into a fountain isn't going to make a difference. The "shared sacrifice" of every tax payer in the top 2% paying more? That's 700 billion dollars.
We can tax the top 2% a little bit more on their income, and make 700 billion dollars, or we can take half of everything the bottom 50% of the population owns.
I say we take everything the bottom 50% has. **** the poor.
Speaking of, whomever keeps saying that the bottom 50% pays no taxes needs to stop spreading that lie.
Citation, please.
"Revenues fell in Bush's first two years because of a combination of the tech bust and the start of the tax cuts. But then things took off. After taking in $1.782 trillion in tax revenues in 2003, the government collected $1.88 trillion in 2004; $2.153 trillion in 2005; $2.406 trillion in 2006; and $2.567 trillion in 2007,according to figures compiled by the Office of Management and Budget. That's a 44 percent increase from 2003 to 2007.[LEFT]
Read more: Obama partisans ignore facts when bashing Bush
[/LEFT]
Millionaires unfairly benefited from Republican policies during the Bush years. Stands to reason that they should have the laboring oar of tackling the deficit. President Obama is absolutely correct. I personally think that the richest people in this country should be SOLELY responsible for tackling the deficit since it was the party that protects their interests (GOP) which created it, with the support of the wealthy.
The general rule is that if the GOP opposes something, IT is right for the country. Here, Obama is right, the GOP wrong. Country suffers when the hapless GOP gets their way as we have seen now 11 years running.
As usual you are a little lacking on your facts.
"As far as tax cuts are concerned, Bush did indeed cut taxes for the wealthy - along with everybody else who paid income taxes.
"The rich did indeed get richer under President George W. Bush, but they also paid an ever-larger share of the federal tax burden, according to new numbers compiled by Congress‘ chief scorekeeper.
After dipping in the early part of the Bush administration, by 2007 the top quintile of earners - the 20 percent who made the most - paid nearly 70 percent of all the taxes that the federal government (http://www.washingtontimes.com/topics/federal-government/ - broken link) collected, according to Congressional Budget Office figures. That includes a staggering 86 percent of the income tax being paid by just the top quintile of earners"
OH! So that means if I don't like a statute I can demand it be changed while at the same time refusing to pay my taxes?
It is amazing the level some will sink to in trying to excuse the inexcusable.
What about ol' Warren giving away all his money in order to bilk uncle sam out of all that revenue?
Can't wait for the excuse on this one.
First, congratulations, I had no idea your were a millionaire and would be subject to millionaire taxes.
Second, it's absurd how you twist his behavior into "excuse the inexcusable,"when his whole argument is that the rich do not pay their fair share. The top 400 taxpayers pay a rate of 16.6%. Buffett pays that rate too and that's because capital gains is taxed at 15%.
He says there is no rational reason to tax the rich so low and we hear outrage? Outrage, not from the billionaires, but from middle-class right wingers who will never be in this income bracket. That's absurd.
What is shows is that 30 years of right-wing propaganda paid by the wealthiest has worked. It has convinced average people that the rich deserve royal status -- even when one of their own shows what nonsense it is.
Most people understand the statement. But .... I don't feel the need to explain it to you.
So you are saying that you can't explain it, huh?
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