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Old 12-16-2012, 06:49 PM
 
41,059 posts, read 23,980,608 times
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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?

Last edited by petch751; 12-16-2012 at 07:03 PM..
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Old 12-16-2012, 06:58 PM
 
Location: Chandler, AZ
5,801 posts, read 6,128,233 times
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Heaven knows he'll try to do so, since the media will protect huim just as feverishly as they have the past four years.
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Old 12-16-2012, 07:06 PM
 
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Obama accomplishes four key objectives by dragging his feet until we go off the cliff:

1. The Bush tax cuts expire, which nets him more revenue than he will get from taxing the rich.

2. This additional revenue has no strings attached. He doesn't have to offset this revenue with spending cuts.

3. Sequestration automatically cuts military spending, something that liberals have been after for years.

4. He gets to blame it all on Republicans, and the voting public is willing to let him get away with it.

Obama will not be willing to accept any deal.
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Old 12-16-2012, 07:18 PM
 
41,059 posts, read 23,980,608 times
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Quote:
Originally Posted by Marv101 View Post
Heaven knows he'll try to do so, since the media will protect huim just as feverishly as they have the past four years.
Obama and the Democrats had been calling for the "millionairs" to pay their fair share. Boehner said okay, let's have "millionairs" pay more but Obama rejected it so he can increase taxes on everyone, a broader tax increase, everyone pays higher taxes.

Last edited by petch751; 12-16-2012 at 07:27 PM..
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Old 12-16-2012, 07:32 PM
 
Location: Long Island, NY
19,792 posts, read 13,118,803 times
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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.
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Old 12-16-2012, 07:34 PM
 
41,059 posts, read 23,980,608 times
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Obama will finally have his tax increases on the "rich". When this fails and we reach 20 trillion in debt by 2015, what excuses will they be giving then. Who will Obama and the Dems be blaming? When they find out it is not enough they will increase taxes anyway so....

Let the BTR expire, The idiots think Clinton is great so if they think that they will not mind paying the clinton tax rates so let them have it good and hard. You can thank Obama.
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Old 12-16-2012, 07:50 PM
 
Location: The Land of Reason
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Can anyone explain to me what is the probelm of letting the tax rates for the wealthy go back to the Clinton era?
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Old 12-16-2012, 07:54 PM
 
41,059 posts, read 23,980,608 times
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Originally Posted by simetime View Post
Can anyone explain to me what is the probelm of letting the tax rates for the wealthy go back to the Clinton era?
There are how many post, there are how many articles. How many times do you need to be told before it sinks in. You do not want to or since you don'w own a business do not understand. It is obviously best to let you suffer the consequences. You think Clinton tax rates are so great you should not mind paying the clinton tax rates yourself.
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Old 12-16-2012, 07:57 PM
 
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This country affords ample opportunity for those who will make an effort on their own behalf. What is tragically "Unfair" is to string generations along with entitlements, replacing their dreams of achievement with the banality of mere existence. Thus, the system loses balance and becomes "Unfair" to all.
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Old 12-16-2012, 08:05 PM
 
Location: The Land of Reason
13,241 posts, read 11,643,371 times
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Quote:
Originally Posted by petch751 View Post
There are how many post, there are how many articles. How many times do you need to be told before it sinks in. You do not want to or since you don'w own a business do not understand. It is obviously best to let you suffer the consequences. You think Clinton tax rates are so great you should not mind paying the clinton tax rates yourself.
How do you know what I own or what I may own in the near future? There are people that don't own a pot to pizz in or a window to throw ii out of and are in support of letting the wealthy (not job creators) pay as little taxes as they can and take away the safety nets that many of them presently need. I asked the question so that I can hear the reasons that morons who are not in that tax bracket support it. Does that answer your question?
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