Obama Stands Firm, No Extending The Bush Tax Cuts For The Rich, Period

[MTAtech]

Originally Posted by North Beach Person

This folks is why many people think Democrats are bat **** crazy. When someone claims that the most liberal/share the wealth Democrat in a generation is nominated (and wins) and is then called a center/right Republican.

Where is the evidence of Obama's "liberal/share the wealth" beliefs? His health care plan is basically what Mitt Romney passed, which was based upon the national Republican plan from the 1990s and rejecting the single-payer option favored by liberals. That plan was formulated by the Heritage Foundation.

His stimulus bill was half the size that his advisers thought necessary;

He continued Bush’s war and national security policies without change and even retained Bush’s defense secretary;

He caved to conservative demands that the Bush tax cuts be extended without getting any quid pro quo whatsoever;

And in December 2011 he supported deficit reductions that go far beyond those offered by Republicans.

What are your examples of Obama's liberalism?

The belief that Obama is a transformational Socialist is a conservative delusion.

Earlier someone said something about the tax=rates of the 1950s. These are the tax-rates for 1950. Adjust it by inflation by adding a zero to each income number. Those rates were far higher than today. Even someone earning only $40,000 would pay 17.4%. Those top 400 earners would pay 84% tax. Someone earning a million dollars a year today would pay 68%. Today's GOP rejected the millionaires tax of 30%.

$0 - $4,000 17.40%
$4,000 - $8,000 20.02
$8,000 - $12,000 23.66%
$12,000 - $16,000 27.30%
$16,000 - $20,000 30.94%
$20,000 - $24,000 34.58%
$24,000 - $28,000 39.13%
$28,000 - $32,000 42.77%
$32,000 - $36,000 45.50%
$36,000 - $40,000 48.23%
$40,000 - $44,000 50.96%
$44,000 - $52,000 53.69%
$52,000 - $64,000 56.42%
$64,000 - $76,000 59.15%
$76,000 - $88,000 62.79%
$88,000 - $100,000 65.52%
$100,000 - $120,000 68.25%
$120,000 - $140,000 70.98%
$140,000 - $160,000 73.71%
$160,000 - $180,000 76.44%
$180,000 - $200,000 79.17%
$200,000 - $273,438 80.99%
$273,438 - $300,000 82.503%
$300,000 - $400,000 83.430%
$400,000 - and over 84.357%

[BigJon3475]

According to CBO’s projections, if current laws remained in place, spending on the major federal health care programs alone would grow from more than 5 percent of GDP today to almost 10 percent in 2037 and would continue to increase thereafter.1 Spending on Social Security is projected to rise much less sharply, from 5 percent of GDP today to more than 6 percent in 2030 and subsequent decades. Altogether, the aging of the population and the rising cost of health care would cause spending on the major health care programs and Social Security to grow from more than 10 percent of GDP today to almost 16 percent of GDP 25 years from now. That combined increase of more than 5 percentage points for such spending as a share of the economy is equivalent to about $850 billion today. (By comparison, spending on all of the federal government’s programs and activities, excluding net outlays for interest, has averaged about 18.5 percent of GDP over the past 40 years.) If lawmakers continued certain policies that have been in place for a number of years or modified some provisions of current law that might be difficult to sustain for a long period, the increase in spending on health care programs and Social Security would be even larger. Absent substantial increases in federal revenues, such growth in outlays would result in greater debt burdens than the United States has ever experienced.

http://www.cbo.gov/sites/default/fil...ny_One-Col.pdf

When he's speaking of current law he is speaking about the tax cuts expiring as planned. The underlined above is basically what Obama is proposing with raising the tax rates on just a certain segment of tax payers.

 The extended baseline scenario, which reflects the assumption that current laws generally
remain unchanged; that assumption implies that lawmakers will allow changes
that are scheduled under current law to occur, forgoing adjustments routinely made
in the past that have boosted deficits.
 The extended alternative fiscal scenario, which incorporates the assumptions that
certain policies that have been in place for a number of years will be continued and
that some provisions of law that might be difficult to sustain for a long period will be
modified, thus maintaining what some analysts might consider “current policies,” as
opposed to current laws.2

[Heidi60]

Originally Posted by Freemore

I have often wondered if the gop hate their supporters or just Americans.

Obama's secret negotiations are being exposed so it appears he, and the GOP, just hate Americans in general.

Obama Trade Document Leaked, Revealing New Corporate Powers And Broken Campaign Promises

[Mathguy]

Originally Posted by TempesT68

I have to applaud Obama on this one for putting his foot down against the GOP thugs to end the horrific Bush tax cuts to the rich, which was one of the main reasons that Bush and the GOP led the nation into disaster.
Let's hope he stays strong and doesn't give an inch to the GOP goons

"President Obama has been clear about his position and it has not changed," White House press secretary Jay Carney told reporters traveling with Obama to California. "We should not extend and he will not extend the ... Bush-era tax cuts for the wealthiest two percent of the American people."

Obama stands firm against extending tax cuts for rich | Reuters

What an awesome thread.

[desertdetroiter]

Originally Posted by chucksnee

$21.57 says obama caves, or he never would have signed them in the first place....

Anyone?

LMAO....nice.