Tax Increase Exemption Cards available. Get yours!

**deathgodusmc** · 09-04-10, 12:23 PM

Originally Posted by [CoFR]SirMoo

The president has no power over tax cut expirations. That's the fault of your Congress-critters for not passing a new tax cut bill. But oh wait! They *are* submitting a new tax cut bill - mostly affecting SMB owners. Which whether you are conservative or liberal should understand makes up the majority of GDP and employment in this country. The new "stimulus" involves cutting payroll taxes by 25% across the board for SMB owners, including their self-employment tax. Also some Democrats want to vote to extend middle-class tax cuts. However, Republicans keep wanting to chase after more tax cuts for the 250K+* people, and in addition because the republicans want to maximize their chances of pwning congress in November elections, they will most likely try to stall this bill, THEN blame it on Obama as well as making the economy worse so they can get more votes for change.

*Seriously though, most of us here aren't going to see that amount of gross income in our lifetimes. It's several times over the median middle-class income paygrade necessary to keep reasonable debt, own a house, 2 cars, and 2 kids. And I think it's morally wrong if you're an SMB owner taking that much money as personal income while paying people minimum wage to put up drywall, nail shingles, run a cash register, or wait tables in your establishment, but that's just me.

Not entirely true. Yes they have to vote on it just like everything else but he did make that promise i put in the other post.

**triggerhappy2005** · 09-04-10, 12:24 PM

Originally Posted by deathgodusmc

Nice try to edit. Here let me help you out.

http://www.politifact.com/truth-o-me...browse/?page=2

No. 37: Extend the Bush tax cuts for lower incomes

Extend the Bush tax cuts for those making less than $250,000 (couples) or $200,000 (single

Since Obama has proposed it in his budget, he did his part and kept his campaign promise. If congress decides not to allow it then it falls on them.

So why did consultant post something that says Obama is raising taxes again?

From the link you posted:

" President Obama has said he would roll back the Bush tax cuts on higher incomes, meaning $200,000 in income for singles and $250,000 for couples. But he intends to leave in place the Bush tax cuts for people who make less than that.

When the tax cuts were first enacted in 2001 and again in 2003, the legislation came with "sunsets," or scheduled expiration dates. Without further action, tax rates will go up for everyone in 2011; at the time it was considered a way to rein in future deficit projections. So new legislation is required to keep in place current tax rates for the lower incomes.

Making the tax cuts permanent are part of the budget outline Obama presented on Feb. 26, 2009.

Obama's budget outline doesn't precisely break out how much it will cost to keep the current income tax rates for lower incomes. But an analysis by the nonpartisan Tax Policy Center found it would cost about $850 billion over 10 years.

His budget does say how much he expects to gain from raising the rates on the higher incomes. Over 10 years, it's $338 billion in additional income taxes, and another $298 billion from reducing exemptions and deductions and increasing capital gains and dividends taxes.

Congress still needs approve Obama's budget, and there will likely be arguments over many things in it. But little opposition is expected to making the tax rates permanent for the lower incomes. So for now, we're rating this promise In the Works. "

See, he did his part and kept his promise.

**deathgodusmc** · 09-04-10, 12:35 PM

Originally Posted by triggerhappy2005

Since Obama has proposed it in his budget, he did his part and kept his campaign promise. If congress decides not to allow it then it falls on them.

So why did consultant post something that says Obama is raising taxes again?

From the link you posted:

" President Obama has said he would roll back the Bush tax cuts on higher incomes, meaning $200,000 in income for singles and $250,000 for couples. But he intends to leave in place the Bush tax cuts for people who make less than that.

When the tax cuts were first enacted in 2001 and again in 2003, the legislation came with "sunsets," or scheduled expiration dates. Without further action, tax rates will go up for everyone in 2011; at the time it was considered a way to rein in future deficit projections. So new legislation is required to keep in place current tax rates for the lower incomes.

Making the tax cuts permanent are part of the budget outline Obama presented on Feb. 26, 2009.

Obama's budget outline doesn't precisely break out how much it will cost to keep the current income tax rates for lower incomes. But an analysis by the nonpartisan Tax Policy Center found it would cost about $850 billion over 10 years.

His budget does say how much he expects to gain from raising the rates on the higher incomes. Over 10 years, it's $338 billion in additional income taxes, and another $298 billion from reducing exemptions and deductions and increasing capital gains and dividends taxes.

Congress still needs approve Obama's budget, and there will likely be arguments over many things in it. But little opposition is expected to making the tax rates permanent for the lower incomes. So for now, we're rating this promise In the Works. "

See, he did his part and kept his promise.

LOL fucked myself. Guess i should have hit that little more thing huh. Oh well as long as he is at least making an attempt im good with it but the cigarette thing still pisses me off.

**rock_lobster** · 09-06-10, 01:10 AM

Originally Posted by triggerhappy2005

Bullshit. This whole premise of this thread is that Obama is raising taxes implicitly. Hence the reason behind the wildly hilarious tax rebate card. How you feel about your tax rate is a totally different subject.

Obama promised he would not raise taxes on those that made less than 250k per year. He never stated he would not let the Bush tax cuts expire.

And don't you work as a contractor for the US government, Muq?

Arguing semantics.....you should run for office.

**triggerhappy2005** · 09-06-10, 01:50 AM

Originally Posted by rock_lobster

Arguing semantics.....you should run for office.

Originally Posted by triggerhappy2005

Since Obama has proposed it in his budget, he did his part and kept his campaign promise. If congress decides not to allow it then it falls on them.

So why did consultant post something that says Obama is raising taxes again?

From the link you posted:

" President Obama has said he would roll back the Bush tax cuts on higher incomes, meaning $200,000 in income for singles and $250,000 for couples. But he intends to leave in place the Bush tax cuts for people who make less than that.

When the tax cuts were first enacted in 2001 and again in 2003, the legislation came with "sunsets," or scheduled expiration dates. Without further action, tax rates will go up for everyone in 2011; at the time it was considered a way to rein in future deficit projections. So new legislation is required to keep in place current tax rates for the lower incomes.

Making the tax cuts permanent are part of the budget outline Obama presented on Feb. 26, 2009.

Obama's budget outline doesn't precisely break out how much it will cost to keep the current income tax rates for lower incomes. But an analysis by the nonpartisan Tax Policy Center found it would cost about $850 billion over 10 years.

His budget does say how much he expects to gain from raising the rates on the higher incomes. Over 10 years, it's $338 billion in additional income taxes, and another $298 billion from reducing exemptions and deductions and increasing capital gains and dividends taxes.

Congress still needs approve Obama's budget, and there will likely be arguments over many things in it. But little opposition is expected to making the tax rates permanent for the lower incomes. So for now, we're rating this promise In the Works. "

See, he did his part and kept his promise.

Originally Posted by deathgodusmc

LOL fucked myself. Guess i should have hit that little more thing huh. Oh well as long as he is at least making an attempt im good with it but the cigarette thing still pisses me off.

It's not semantics, it's a proven fact. Now go back to bed.