Boehner Bush tax rates to $1M up ... Obama not answering, will allow a default (health care, conspiracy)

[floridasandy]

Originally Posted by MTAtech

How much revenue does that raise?
Boehner is being sneaky. He knows that raising the ordinary income rate over $1 million isn't going to effect million+ earners because they make most of their money from capital gains.

and whose fault is that for not fixing the tax code since being elected president 4 years ago?


of course, the rich aren't really going to be paying that much more and it is the usual dog and pony show so people don't start questioning how this is going to end.

and the answer is, of course, badly.

it's a spending/waste problem.

[Donna-501]

Originally Posted by MTAtech

If nothing is passed, the mandatory tax increases and spending cuts go into effect, which in my opinion, is better than Boehner's plan.

Then, when the new Congress takes office, the Senate can introduce a bill that cuts taxes for the middle class, that the House wouldn't dare reject.

Looks like that may happen. I also agree with you with Boehner's plan.

[Dayton Sux]

Boehner probably sees his proposal as a compromise btw his caucus (who want NO tax increases on the upper brackets) and what Obama is proposing.

Obama does not, and is not going with Boehners plan, so we are off the cliff.

[nmnita]

Originally Posted by petch751

Bush tax cuts expire on $1 million and higher small business will be able to hire again.

We all heard Boehner saying that raising taxes on $200K / $250K and higher would hurt small businesses and that and wanting cuts in spending has been Boehners main reason for not agreeing to the expiration of the Bush tax cuts.

Boehner suggested expiration of Bush-era tax rates for annual incomes of $1 million or more annually, beginning Jan. 1. Obama is not agreeing to the $1 million. Obama is adamant that any deal include an increase in the debt ceiling. Obama wants more spending.

The Republicans would also pass a competing bill to extend the Bush tax rates for all wage earners but that legislation would be derailed in the Democratic-led Senate.

The question is will Obama go along? Or will Obama allow a default and everyone pay higher taxes?

I am still hopeful they will reach a conpromise, but as usual, Obama says it is his way or no way. HE has even said, unless he gets his way he will veto anything that the houses pass, including anything his senate agrees on...I guess we should have expected this..

[Ponderosa]

The non partisan Tax Policy Institute today said that Boehner's plan B will RAISE taxes on Americans who make less than $200,000 as well as those over $1 million. Yes, that means YOU!

Why 'Plan B' Would Actually Raise Taxes on Low Earners

[Trader8]

Lightweight Boehner should just quit (like Palin and DuhMint) and go back to Ohio to do what he was born to do ... work behind that deli counter at Kroger...

[simetime]

Originally Posted by nmnita

I am still hopeful they will reach a conpromise, but as usual, Obama says it is his way or no way. HE has even said, unless he gets his way he will veto anything that the houses pass, including anything his senate agrees on...I guess we should have expected this..

He did campaign on raising the taxes on the wealthy and that is what the majority of people wanted him to do, and now you are complaining because he is doing it When he gave in before the left complained but now he is'nt it is the right that is complaining

[Ponderosa]

Republicans rejected their own (leadership's) bill this evening. It certainly appears that they don't care what impact the fiscal cliff is going to have on the country and the world. Preserving tax breaks for millionaires is more important to them.

Get ready for the second Republican engineered recession in the last 5 years.

[MTAtech]

Originally Posted by simetime

He did campaign on raising the taxes on the wealthy and that is what the majority of people wanted him to do, and now you are complaining because he is doing it When he gave in before the left complained but now he is'nt it is the right that is complaining

That's really the size of it. Mr. Obama is doing what he unambiguously said he would do. He even has gone beyond half-way by accepting changes to Social Security -- which is really bad policy.

Basically, those that wanted Romney are complaining that Obama isn't doing what Romney would have done.

[MTAtech]

Originally Posted by Ponderosa

Republicans rejected their own (leadership's) bill this evening. It certainly appears that they don't care what impact the fiscal cliff is going to have on the country and the world. Preserving tax breaks for millionaires is more important to them.

Get ready for the second Republican engineered recession in the last 5 years.

The fiscal cliff has no impact on the country and the world. The idea that the world would come to an end if taxes reverted to rates during Clinton and defense lost 1/8 of its funding, is an overreaction.