Obama proposes extending Bush tax cuts for 98 percent of us

#126
#126
Weezer said:
Read where I went into a little more detail. The kids are working hard to better themselves. They're showing a resolve their mom never has. I support that and want that to firmly take root. Success will drive them to work harder as they appreciate what they have earned.

My nephew was a diligent student and now has a job in Dallas. When it comes to work, he doesn't slack. Very responsible and I'm very proud of him for it. My niece has four kids, a job, and goes to school. She's had her slips, but she has worked to overcome a lot of adversity. She could sit at home and draw welfare but she doesn't, she wants more. Should I not encourage that? Bottom line, she's working hard, and when she struggles, I do my best to help out. I'm extremely proud of her as well.

And as a side note to PJ, I'm really not trying to toot my own horn here, but I feel this is a case where having a break comes in. Both have worked hard, I have been able to help both when they needed(thus a break), and they are finding success. Could they have found other ways? Very possibly, but it's also possible they might not have.
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You helped them, family, not the govt
 
#127
#127
Weezer said:
I can see your point, but I would never give the money to my sister to allocate. The kids are the most important part of it all. I still have one more nephew to go. He's the scariest because he's the most like his mom, but I hope he will see the value of hard work through the actions of his older siblings. If he works hard, I'll do everything I can to support him. The key is for him to put in the effort. As long as he puts in the effort, I don't see it as enabling. It's investing in the future.
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Or the govt to allocate
 
#129
#129
US corporations paid out just 12.1 percent of their 2011 profits in taxes, according to the Congressional Budget Office. That's well below the country's top marginal corporate tax rate of 35 percent.

The CBO's numbers undercut a popular conservative claim -- that the United States places a higher tax burden on its corporations than almost any other first-world nation
 
#130
#130
Abe Hoffman said:
US corporations paid out just 12.1 percent of their 2011 profits in taxes, according to the Congressional Budget Office. That's well below the country's top marginal corporate tax rate of 35 percent.

The CBO's numbers undercut a popular conservative claim -- that the United States places a higher tax burden on its corporations than almost any other first-world nation
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This is why the claim we have the highest tax rate is mostly garbage.

I would be willing to bet special interest and lobby groups would be against lowering the rate if it meant getting rid of all loopholes.
 
#131
#131
rjd970 said:
This is why the claim we have the highest tax rate is mostly garbage.

I would be willing to bet special interest and lobby groups would be against lowering the rate if it meant getting rid of all loopholes.
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Absolutely. Just another example of government picking winners and losers.

Gotta have term limits to fix this problem.
 
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#133
#133
1. You cannot legislate the poor into prosperity by legislating
the wealthy out of prosperity.

2. What one person receives without working for, another
person must work for without receiving.

3. The government cannot give to anybody anything that the
government does not first take from somebody else.

4. You cannot multiply wealth by dividing it.

5. When half of the people get the idea that they do not have
to work because the other half is going to take care of them,
and when the other half gets the idea that it does no good to
work because somebody else is going to get what they work for,
that is the beginning of the end of any nation

5 is where we are headed as a nation.. scary
 
#134
#134
Abe Hoffman said:
US corporations paid out just 12.1 percent of their 2011 profits in taxes, according to the Congressional Budget Office. That's well below the country's top marginal corporate tax rate of 35 percent.

The CBO's numbers undercut a popular conservative claim -- that the United States places a higher tax burden on its corporations than almost any other first-world nation
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Why don't you tell the whole story?

The Corporate Tax Rate Is Lowest in Decades; Is Business Paying Its Fair Share? | Business | TIME.com

In 2010 and 2011, companies were allowed to deduct the full cost of the purchases of new equipment, while normally these costs would be expensed over several years. In 2012, this deduction will go down to 50% and be eliminated altogether thereafter, causing the effective tax rate to return to roughly the 25.6% average effective tax rate corporations paid since the late 1980s, according to CBO forecasts.

It appears that the incentive for companies to buy more capital equipment was very successful, but now is a bad thing.
 
#135
#135
Term limits won't fix anything by themselves. Politicians who pay to play get set up with cushy positions after their legislative days.

A solution would include stricter term limits as part of a broader plan
 
#136
#136
milohimself said:
Term limits won't fix anything by themselves. Politicians who pay to play get set up with cushy positions after their legislative days.

A solution would include stricter term limits as part of a broader plan
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lack of long termers would help the issue of lucrative DC careers for those gone. Term limits alone would dramatically impact DC politics.
 
#137
#137
BigPapaVol said:
lack of long termers would help the issue of lucrative DC careers for those gone. Term limits alone would dramatically impact DC politics.
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Even if dc politicians were limited to a single term, cronyism would be alive and well. Campaign finance (and party structure by extension) as it is and post-dc careers like newt's play parts as big or bigger than term limits.
 
#138
#138
Obama's 'Progressive' Tax Plan Actually Screws Over The Little Guy - Business Insider

What the President didn’t say in his speech yesterday is far more important than what he did say. He did not say word one about the 2% Social Security tax break that has been on the books the past few years. What this means is that the FICA tax break is going to expire. When it does, every worker’s paycheck is going to get hit by 2%.

In the 2012 Social Security Trust Fund report to Congress the Trustees estimated that total FICA (SS taxes) would amount to $733.4B in 2013. The 2% increase in FICA taxes in 2013 will increase workers tax load by $120B. Therefore the combined effect of extending the sub-250k tax cut and the increase in FICA comes to a paltry $30B.

Even worse is the way in which the increase in FICA taxes will be felt by workers making $60K or less. (The average annual wage in the US is $42,000). Households in the lower tax brackets will not get much benefit from extending the Bush tax cuts, but they will, on average, see their take home pay reduced by $1,200 a year.

The President’s tax proposal is a half-assed compromise. It is not progressive. It does nothing for the economy ($30b is chump change). If workers earning an annual income close to the average understood how this tax proposal would work out for them, they would reject it. I find it interesting that Obama is selling his plan as a middle class tax cut that aids small businessmen when in fact it is a lower-income tax increase that has no beneficial consequences to the economy
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#139
#139
Some are acting like the world is going to end if the tax credit is not extended to the top 2%.

Where are all the jobs created by the Bush tax credits?

During Bush’s eight years in office -- January 2001 to January 2009 -- the nation actually gained a net 1.09 million jobs. (Because there were gains in government jobs, the private sector actually lost 653,000 jobs during that period.)

From the economy’s peak to its low point, the nation lost 8.75 million jobs. The peak for jobs came in January 2008, while the low point for jobs came in February 2010.


Take a look back in history:


Bill Clinton raised taxes. From January 1993 to January 2001, the nation gained 22.7 million total jobs under the Clinton presidency.

Bush 41 raised taxes... 2.5 million jobs were created. during his one term.

Reagan cut taxes in 1981 and the unemployment jumped to 10.8%.
Over the next 7 years Reagan raised taxes 11 times.
16 million jobs created under Reagan.

In 1978 Jimmy Carter reduced the maximum tax on capital gains to 28% from as high as 49%. 10.5 million jobs created during his one term.
 
#145
#145
TheDeeble said:
But racism, and 1%, and Bush......

Sadly the entitlement mentality isn't going away. It's become as American as baseball.
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truth_in_advertising_obama.jpg


Here’s a list of the top 10 issues the Obama campaign can’t quite pull the trigger on this time around:

1. The Economy: “All ahead slow” may be an acceptable order for a ships captain heading into mined waters - but not for a sitting president.

2. Jobs: The Obama administration predicted unemployment to be 5.6% by now. Let’s just say Obama’s laser-beam focus on jobs turned out to be more like a flashlight with weak batteries.

3. Health Care: Looks like passing a bill to find out what’s in it and then finding out what was in it was actually the largest tax hike in the history of mankind wasn’t such a great idea after all.

4. The National Debt: “What do you mean I don’t have any money left - I’ve still got checks?” It was pretty funny on that t-shirt you got at the beach - not so much on a political bumper sticker.

5. The Stimulus: “Shovel ready was not as shovel ready as we expected.” Obama got a big laugh for this quote from the “Jobs Council” panel. It’s safe to say it’ll bomb on the stump this year.

6. Green Energy: Can you say S-O-L-Y-N-D-R-A? Obama sure can’t.

7. Foreign Policy: Obama’s “Timothy Treadwell” approach to foreign policy will only prove one thing in the end - the bears will eventually eat you.

8. Education: When half of America’s college graduates can’t find a job, now’s probably not the best time to be pushing a college education for everyone.

9. Transparency: Who knew the “O” in Obama actually stands for opaque.

10. Hope and Change: Been there - done that.
Buckle up for a big dose of blame and excuses for the next five months from the most vacant campaign in modern history.

Blog: Top 10 things the Obama Campaign doesn't want to talk about

practical_jokes_for_liberals25.jpg
 
#146
#146
NEOCON said:
You never answered my question...how many hours per week do you work?

I'm just now finishing up at 3am with a conference call and my day started at 9am yesterday.

Oh, but you're asleep right now arent you so you cant answer me.............
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Right now, 40. Would I work more? Yes. Have I worked more? Yes.

Here's a little factoid for you, my 63 year old mother probably works as many hours as you do a week. Believe me, I've tried to get her to stop, but she doesn't listen. And I'm talking about physical work for a 63 year old woman. She works circles around her younger co-workers. From Oct. to Dec., she probably averages 65-75 hours a week. The rest of the year it's probably 50-60 hours a week. She keeps an insane schedule that most would not endure.

Credit to you for starting a business, and I mean that, but you're not the only person who stresses over supporting their family. Don't go into full meltdown mode and act like you have it so much tougher than everyone else because you took a risk. Apparently your risk is paying off. Congratulations.

Not trying to bust your balls Neo, but many people have it tough right now, not just you.
 
#147
#147
utvolpj said:
but why be ok with them taking from anyone? Half already get a free ride in this country and our reps continue to give them more and more. Until living off the govt is not a viable option it will continue to be abused. Unfortunately I think we've gone too far down that road and there will always be a large segment doing it. And the way it's set up there will be no penalty or stigma attached to it. Sadly the penalty and stigma is now being attached to the successful members of society.
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Are you suggesting we don't pay taxes at all? I agree that welfare needs to be reformed and monitored much, much closer, but taxes are inevitable. How would you suggest we fund the military without taxes? Government itself costs money to run. The money has to come from somewhere. Should they spend it more wisely? Abso-fukin-lutely, but until the citizens themselves start holding govt accountable, it's not going to happen. The truth is we live in a corrupt system eating itself from the inside out. JFK- "Ask not what what your country can do for you, but what you can do for your country." Political rhatoric? Most probably, but it stands true. How many Americans do you think actually care about this country anymore? Apparently not enough as we've let govt run wild as we've stood by and done nothing.

So unless your suggesting outright rebellion, how do you propose we change what is? Fantasies are nice to believe in but reality is what we have to deal with. Taxes are reality. It's the whole death and taxes thing. I'm all for seeing govt spending controlled but how do we make it happen? Elect someone who says he'll do that? Won't change a damn thing and you and I both know that. Political promises are worthless and are rarely honored.
 
#148
#148
OrangeEmpire said:
You helped them, family, not the govt
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OrangeEmpire said:
Or the govt to allocate
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Absolutely I helped them. I was raised with the importance of family. Not everyone is that fortunate. Some actually need govt assistance to overcome and achieve and many don't get it. There is no control in the welfare system or the allocation of govt funds. Should there be? Yes. Will there be? No. Everyone beeches about the way things are but where are the solutions? If I had them, I would throw them out there, but we would just end up arguing whether I was right or wrong. That's the problem with politics. It's a bunch of arguing and powerplays that creates a smokescreen for the lack of any actual production or change.

Honestly, I love my country. I'm not military material, but I'd die for my country if necessary. I want this country to be what it was supposed to be. But it's not. Politicians have ruined this country and their actions are stripping away our rights one at a time. Truthfully, I've lost all faith that things can be turned around. As long as we continue to put people in power that represent their respective political parties, and not the U.S.A.'s best interests, then we will continue to decline. And unless the sheep wake up, nothing is going to change.
 
#149
#149
A question of curiosity for everyone, how many on here have actually experienced being poor? And I mean truly poor. I, thankfully, have not. I've had tough times but I've never been dirt poor. But I do know that is a very hard thing to overcome. Hard work alone is not always enough to help you make it. It's an extremely important part of the recipe, but it's not the only thing. So many people do not see the breaks they've received by life circumstances and think hard work alone has helped them succeed. It's hard to see the nuances in life, but one little thing here or there could have changed where you are now. I don't advocate a welfare state, and I firmly believe our welfare system is broken, but some people do deserve help and need that help to succeed. The people not willing to put forth effort should be excluded from benefit, but those truly willing to work hard to improve themselves deserve that break.

And one more point to make, not everyone can be doctors or lawyers or successful businessmen. Some people end up being fastfood workers, grocery store clerks, or in some field of retail. Most people look down on those jobs, missing the point that they are jobs. Someone has to fill those positions and they deserve the respect of making liveable wages. Anyone ever read the Parade "What People Make" story they do every year? Honestly, I do not see how some of those people survive. It makes me respect them all the more for finding a way to do it. I guess the point I'm trying to make is let's not overlook these people and let's not make it harder on them to survive. I understand the arguement against taxing the rich more, but I still stand by my belief they can more easily afford it. Increase the taxes on the rich and maybe they can't buy that beach cottage they've been looking at, but increase taxes on the poor and you might just put them out on the street. Yes, I'm taking the extremes here, but I feel it's a valid point.
 
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