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Obama's Tax Cuts For The Rich.


ATLBear
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From his speech:

"We re going to roll back all those Bush tax cuts that went to all those wealthy people, and we re going to give tax cuts to ordinary families, people who are making less than $75,000."

And just so people are dealing in facts, the Bush tax cuts were across the board, including the lowest income level, which received the largest tax cut going from a 15% to 10% tax rate.

When did $75k become wealthy?

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Steve_Bartkowski (2/20/2008)
ATLBear (2/20/2008)
From his speech:

"We re going to roll back all those Bush tax cuts that went to all those wealthy people, and we re going to give tax cuts to ordinary families, people who are making less than $75,000."

And just so people are dealing in facts, the Bush tax cuts were across the board, including the lowest income level, which received the largest tax cut going from a 15% to 10% tax rate.

When did $75k become wealthy?

Like I said in the other thread. At first he only talked about raising taxes on the top 1%. Now it is expanded already. He is already raising taxes and he isn't even elected yet! Is this going to be a continuing trend?

Every time Obama mentions something that the government will do for the people, everyone should question in their minds how it will be payed for. Nothing is free!

i think you would be a much happier person if you moved to Mexico. :w00t:

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morphy (2/20/2008)
Get more and more people off of the tax dole as a method of indirectly purchasing their votes.

Priority #1 in the DNC playbook.

Politics is the gentle art of getting votes from the poor and campaign funds from the rich, by promising to protect each from the other. ~Oscar Ameringer

there's another great quote that i can't remember for the life of me that talks about the death of a republic being when those in power realize they can stay in power by promising money to their constituents. it applies to both parties nowadays.

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twright21 (2/20/2008)
morphy (2/20/2008)
Get more and more people off of the tax dole as a method of indirectly purchasing their votes.

Priority #1 in the DNC playbook.

Politics is the gentle art of getting votes from the poor and campaign funds from the rich, by promising to protect each from the other. ~Oscar Ameringer

there's another great quote that i can't remember for the life of me that talks about the death of a republic being when those in power realize they can stay in power by promising money to their constituents. it applies to both parties nowadays.

A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves money from the public treasure. From that moment on, the majority always votes for the candidates promising the most money from the public treasury, with the result that democracy always collapses over loose fiscal policy followed by a dictatorship.

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alfred e. neuman (2/20/2008)
twright21 (2/20/2008)
morphy (2/20/2008)
Get more and more people off of the tax dole as a method of indirectly purchasing their votes.

Priority #1 in the DNC playbook.

Politics is the gentle art of getting votes from the poor and campaign funds from the rich, by promising to protect each from the other. ~Oscar Ameringer

there's another great quote that i can't remember for the life of me that talks about the death of a republic being when those in power realize they can stay in power by promising money to their constituents. it applies to both parties nowadays.

A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves money from the public treasure. From that moment on, the majority always votes for the candidates promising the most money from the public treasury, with the result that democracy always collapses over loose fiscal policy followed by a dictatorship.

thank you. thou art a scholar and a gentleman.

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thesouphead (2/20/2008)
ATLBear (2/20/2008)

When did $75k become wealthy?

you don't think that's wealthy? I certainly do. I would love to make that or more.

That is $75000 for a FAMILY. That is not wealthy at all. The GDP of the US is $46,000. $75,000 is almost $20,000 less than the GPD of the freaking US family...that does not scare you???? https://www.cia.gov/library/publications/th...ok/geos/us.html

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capologist (2/20/2008)
thesouphead (2/20/2008)

you don't think that's wealthy? I certainly do. I would love to make that or more.

75K is upper middle class for a single person. However, Obama is seemingly talking about household income in his quote. 75K for a family isn't wealthy at all...

I would think he meant 75K for a single person......seeing that was the exact mark the government just used when dealing with their tax rebates.

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twright21 (2/20/2008)

thank you. thou art a scholar and a gentleman.

Taxes and how the parties use the threat of them to gain/stay in power has always inerested me. Here's how I would handle the tax situation in this country:

1. The U.S. Federal Government does not need one dime of money collected from taxing a man's wages to function. We can run the Federal Government to a level of spending in the year 2000 just on corporate and excise taxes collected.

2. It is proven that giving wage tax breaks to the people increases GDP, which in turn increases the amount of corporate and excise taxes collected.

3. The tax on a man's wages he earns for his labor, while UnConstitutional and illegal, has become ingrained into the American psyche. Simply eliminating them overnight would cause "unease" to say the least. So there needs to be some way to phase out the wage tax ("income tax") over a period of time. This would allow the GDP to grow at a rate that allowed the corporate and excise taxes to replace the wage taxes.

I would do this by raising the standard decuction over the next 10 years so that on the 10th year, every single American family was completely free of taxes on their wages.

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octoslash (2/20/2008)
malk2.0 (2/20/2008)
Lets get rid of the income tax all together. It is unconstitutional anyways.

So you voted for Huckabee I assume.

:laugh: **** no. I voted for someone who REALLY wanted to get rid of the income tax, not just says he wants to. Huckabee just steals most of ron pauls messages and tries to make it his own.

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Where does Obama say that people earning between 75k and for example 150k will see their tax cuts rolled back?

What he said is:

a.) tax cuts for the "wealthy" will be rolled back (he left the definition for wealthy open)

b.) people who earn less than 75k will benefit from new tax cuts

There is alot of room for ordinary but good earning people between those two groups that would/could go uneffected by those changes

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falconbeast (2/20/2008)
Where does Obama say that people earning between 75k and for example 150k will see their tax cuts rolled back?

What he said is:

a.) tax cuts for the "wealthy" will be rolled back (he left the definition for wealthy open)

b.) people who earn less than 75k will benefit from new tax cuts

There is alot of room for ordinary but good earning people between those two groups that would/could go uneffected by those changes

I feel almost as comfortable with Obama telling me that he will tax the "wealthy" without firmly defining what "wealthy" is as I do with Bush telling me that he has to power to declare marshal law in an "emergency" without firmly defining what constitutes and "emergency".

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alfred e. neuman (2/20/2008)

I feel almost as comfortable with Obama telling me that he will tax the "wealthy" without firmly defining what "wealthy" is as I do with Bush telling me that he has to power to declare marshal law in an "emergency" without firmly defining what constitutes and "emergency".

same with declaring somebody an "enemy combatant".

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falconbeast (2/20/2008)
You are probably right AEN, I just wanted to point out that Obama did not say that people with more than 75k are wealthy. That was a wrong interpretation by the thread starter
How else do you interpret his words?

"We re going to roll back all those Bush tax cuts that went to all those wealthy people, and we re going to give tax cuts to ordinary families, people who are making less than $75,000."

He's specifically going to remove the tax reductions for everyone making over 75k, and in his words, "that went to all those wealthy people".

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ATLBear (2/20/2008)
falconbeast (2/20/2008)
You are probably right AEN, I just wanted to point out that Obama did not say that people with more than 75k are wealthy. That was a wrong interpretation by the thread starter
How else do you interpret his words?

"We re going to roll back all those Bush tax cuts that went to all those wealthy people, and we re going to give tax cuts to ordinary families, people who are making less than $75,000."

He's specifically going to remove the tax reductions for everyone making over 75k, and in his words, "that went to all those wealthy people".

Where does he say that everyone, who earns more than 75k belongs to that group of "wealthy people"? He just said, what he will do with the extra money from the rolled back tax cuts

Stop thinking black and white. There is always something or someone in between

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