Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
The question is, why is he holding 98% of the population hostage in order to get his revenge on the top 2%? And will he really throw 98% of the population under the bus if he doesn't get his way? Seems pretty childish and petulant...but that's not unexpected from Obama.
You are another idiot.
First, President Obama and nearly every person in his cabinet is in the top 2% of wage earners. He wants to get revenge on himself? SMH
Look, President Obama for years has been saying he wants those tax rates on income over $250,000 to go back to the Clinton years.
The conservatives disagreed. So they forged an agreement, that those rates would expire on December 31st 2012.
The conservatives thought the new conservative president would just extend all the Bush tax cuts permanently.
President Obama thought when I win re-election, I'll have the leverage to raise those taxes.
He won, and it will happen.
Gosh. You seem to be looking in the mirror and saying that to yourself. The Coming AMT Debacle
Guess who the NEW AMT taxpayers are who will be paying that extra $64 billion to the U.S. Treasury?
Singles who earn $34-49K.
And married couples who jointly earn $45-$75K.
The AMT doesn't work that way. The rules for deductions, etc., are different.
Under the regular IRS rules, you start with your gross income and subtract deductions like state ad real estate taxes you paid, and exemptions like child credits. Eventually, you arrive at your adjusted gross income. Under AMT rules, you still start with your gross income, but many of the usual deductions and exemptions are disallowed. Suddenly, your taxable income is a lot higher. Even though some deductions still stand, including those for mortgage-interest and charitable donations, some key breaks are lost. The lost deductions/credits include:
- State and local income taxes and property taxes - Not deductible under AMT rules. That will really screw those who live in highly taxed cities and states.
- Child-tax credits - Not applicable under AMT rules.
- Home-equity loan interest - Not deductible under AMT rules.
Of course, there are more.
You presented that information for no reason. The title of this thread is where will you cut to pay Obama's increase in taxes.
In reality the only tax rates that President Obama wants to increase are those on income of $250,000 or more.
The amt is a long standing problem so why are you... oh forget it.
I get $58,000/year. I'm not in the top 2% by any means. But my boss who runs the small business I work for, is. And when his taxes go up, he will have to lay some of us off to make up for the money he has to take to pay the government.
Are you sure the Obama tax increases of 2013, won't impact those of us in the 98%?
Lol conservatives making shyt up since forever. Fact free and loving it.
This nation has increased taxes many times in the past, were there massive layoffs as a result?
Remember when Reagan increased taxes a dozen times, oh boy the massive layoffs that followed, what about GHWB and his tax increases or Bill Clinton and his tax increases I remember just huge gigantic layoffs follow those marginal tax increases.
We are also going to go off the regulatory cliff. a bunch of regulations that have been held up until after the election because they would not be popular.
You presented that information for no reason. The title of this thread is where will you cut to pay Obama's increase in taxes.
In reality the only tax rates that President Obama wants to increase are those on income of $250,000 or more.
The amt is a long standing problem so why are you... oh forget it.
Has it completely escaped your attention that Obama and the Dems have made no move to patch the ATM?
They're diverting your attention to their tax "the rich" class war, and the threat of eliminating the Bush tax cuts on the middle class. And not one peep about fixing the AMT. Why? Because they KNOW ignoring it and successfully diverting your attention away from it will net them an additional $64 billion in tax revenue, almost as much as they think they will get from raising taxes on the top 2% ($82 billion, but it will actually be less than that because the rich can restructure their income to avoid taxes as Obama's rich supporters - Buffett, Google, Costco, etc. - have already shown).
For the record, I personally welcome some increased taxation as long as it's matched by a larger amount of decreased spending.
Well that is not going to happen. Obama proposed that cuts be put off for one year.
Tax now and cut later is what is on the table. Oh and throw in more spending as well.
Accountability should NEVER go out of fashion. People should be blamed for what THEY created.
yet four years after Mr. Obama became president you still blame the former president for the current economic conditions.... even after Mr. Obama said his plans would fix things.
No Sir. you believe accountability is blaming republicans. period. end of discussion.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
