No Compromise: Obama Will Not Extend Tax Cuts for Wealthiest Americans
- Posted on September 8, 2010 at 6:08pm by
Meredith Jessup
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CLEVELAND (AP) – President Barack Obama strongly defended his opposition to extending Bush-era tax breaks for the wealthiest Americans on Wednesday and delivered a searing attack on Republicans and their House leader for advocating “the same philosophy that led to this mess in the first place.”
Obama said the struggling U.S. economy can’t afford to spend $700 billion to keep lower tax rates in place for the nation’s highest earners despite a call by House Minority Leader John Boehner and other GOP leaders to do just that.
Speaking in the same city where Boehner, an Ohio Republican, recently ridiculed Obama’s economic stewardship, Obama said Boehner’s policies amount to no more than “cut more taxes for millionaires and cut more rules for corporations.”
Obama’s comments came as the administration rolled out new proposals designed to re-ignite a sputtering recovery, including new tax breaks for businesses and $50 billion for U.S. roads, rails and airports.
“Let me be clear to Mr. Boehner and everyone else. We should not hold middle class tax cuts hostage any longer,” the president said. The administration “is ready this week to give tax cuts to every American making $250,000 or less,” he said.
Actually, Obama and other Democratic leaders want to extend the tax cuts except for individuals making over $200,000 a year – or families earning over $250,000. The sweeping series of Bush tax cuts expires at the end of this year unless Congress renews them.
Obama went after Boehner – who would probably become House speaker if Republicans win control of the House in November’s midterm elections – directly by name.
In Boehner’s remarks on Aug. 24, Obama said, the Republican leader offered “no new ideas. There was just the same philosophy we already tried for the last decade, the same philosophy that led to this mess in the first place.”
Ahead of Obama’s speech, Boehner offered his own proposals on Wednesday, saying in a morning broadcast interview that Congress should freeze all tax rates for two years and should cut federal spending to the levels of 2008, before the deep recession took hold.
“People are asking, ‘Where are the jobs?’” Boehner said, calling the White House “out of touch” with the American public.
Obama gave one of his strongest pitches yet on allowing the Bush tax cuts to expire at the end of this year for wealthy Americans but allowing them to remain in place for everybody else.
Republicans, and even some Democrats, have suggested that it was no time to raise taxes on anybody, given the fragile state of the economy.
The debate is an unwelcome one for dozens of vulnerable Democratic incumbents just weeks before Election Day. Already, a handful of Democrats in conservative or swing districts, such as Reps. Gerry Connolly in the northern Virginia suburbs of Washington, D.C., and Bobby Bright in southeastern Alabama, have come out publicly for extending all the cuts – at least temporarily.
Still other embattled Democrats, wary of alienating middle-class voters, are siding with Obama. In central Ohio, for example, Rep. Mary Jo Kilroy has said the tax cuts for higher earners should be repealed, but middle-income people should see no tax increases.
Obama acknowledged that the recovery that began in late 2009 had slowed considerably.
“And so people are frustrated and angry and anxious about the future. I understand that. I also understand that in a political campaign, the easiest thing for the other side to do is ride this fear and anger all the way to Election Day,” he said.
“The middle class is still treading water, while those aspiring to reach the middle class are doing everything they can to keep from drowning,” Obama said.
Polls have shown a steady slippage in Obama’s approval ratings and an accompanying rise in Republican prospects for winning House and Senate seats in November.
In his speech, Obama outlined plans to expand and permanently extend a research and development tax credit that lapsed in 2009, to allow businesses to write 100 percent of their investments in equipment and plants off their taxes through 2011 and to pump $50 billion into the economy for highway, rail, airport and other infrastructure projects.
He also renewed a pitch for a small business package that has been stalled in the Senate because of Republican delaying tactics.
Of the debate over the expiring Bush tax cuts, Obama said, “I believe we ought to make the tax cuts for the middle class permanent. These families are the ones who saw their wages and incomes flatline over the last decade – and they deserve a break. And because they are more likely to spend on basic necessities, this will strengthen the economy as a whole.”
“But the Republican leader of the House doesn’t want to stop there. … He and his party believe we should also give a permanent tax curt to the wealthiest 2 percent of Americans.“ Obama said these taxpayers were ”folks who are less likely to spend the money” to help the economy grow, a notion disputed by Republicans and conservative economists.
Even Obama’s former budget director, Peter Orszag, has said that while he prefers Obama’s proposal to impose the higher taxes on the wealthy, getting such a formulation through Congress in this politically charged time might be extremely difficult. Orszag suggested a compromise – extend all the tax cuts, but just for two years, and then let them all expire.
Obama is strongly opposed to such a deal, White House officials said.
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Comments (115)
rfycom
Posted on September 9, 2010 at 8:02amHere is another interesting thing I find about this rich folks tax issue. I hear talking heads say the rich people create the jobs. We have to give them more money so they can create more jobs. Rich people did not get rich from making bad decisions. It is DEMAND that creates jobs. Rich people will not hire people unless the demand is there. Who create the demand you ask. It is the poor and what is left of the middle class. The facts folks let’s talk facts.
Report Post »programmingj
Posted on September 10, 2010 at 11:58amLet’s just quit all of this crap-slinging on both sides. Bottom line is this:
1. Small business’ create the majority of the jobs, you have “rich” people and middle class people of all types running those small business’.
2. It is a fact that true conservatives, not progressive-light conservatives, vastly out-give left-leaning individuals since the left believes in the government taking and giving rather than the individual doing what they believe to be right!
3. Throughout history lower taxes + less regulation = reduced or even eliminated deficits, prosperity and effectively 0 unemployment, wow like we actually had during the first 6 years of Bush until the Dems took over congress (4.5 at the lowest which is .2 below effectively 0 unemployment), and all around strength for the USA.
Spin all you want on either side, the facts are the facts and big government has been the cause of every recession/depression in this country. When people are free to succeed or fail however they want and to the extent they want this country is the greatest country on the planet. And I have to add that it’s incredibly ironic to me that as socialism has failed all over Europe yet again they are turning to more conservative ways, yet America has a radical Marxist running the show and is actively trying to collapse our economy for ideology or personal gain. Either way it’s the same for all of us: Even with 20 years experience as a software engineer I can’t find work and neither can anyone else.
I truly hope and pray that all of you on the left will wake up and see the facts through all of the progressive crap that has been drilled into your heads. Help the needy, we always have, fight for SOME social programs that make sense as long as they don’t torpedo our country (and are fair and make sense). After all, this country is strongest when we are more center-right and I’m all for helping during short-term crisis situations. But if you don’t wake up and look at the laws Obama & Co. have slipped into the books that truly transform us into a failed socialist state, and take a look at the radicals that he has surrounded himself with (you will see what the game plan is if you truly look and listen) then we truly could see the end of the USA as any of us know and love. Your rights have been taken away to an extent that none of us truly know yet, and the collapse of the economy is coming since that is the horrible goal of our current leaders, and God help us when that time comes…
Sorry for the long post, had to get that all out because the fighting between the sides is entirely manufactured and means the destruction of the greatest nation the world has ever seen…
God Bless.
Report Post »phoenixbetrayal
Posted on September 9, 2010 at 8:01amJust about everything following “let me be clear” is radical left-wing garbage. Beware the “clarity”.
Report Post »winterhawka7ac
Posted on September 9, 2010 at 10:11amOh how true that is. Look what he is doing to AZ. He is a terrible man.
Report Post »rundoubt
Posted on September 9, 2010 at 7:07amThis is a very simple choice . Leave the money in the hands of small business owners who will put 100% of it to good use maybe buy more inventory, or hire a new employee maybe pay for all of the increased healthcare costs for his employee’s and yes maybe stick it in their pockets and spend it if they so choose OR let the government choose and maybe bail out a bank or 2 or let Obama take a vacation maybe provide healthcare for Illegal Aliens or bail out the next business that the unions have bankrupted. Who will make the best choice a greedy businessman or a greedy corrupt politician who the whole time is funneling part of the money to their friends so they can get campaign contributions.
Report Post »winterhawka7ac
Posted on September 9, 2010 at 5:32amEach time this empty suit opens his socialist mouth he loses more credibility. Attacking Boehner 8 times in his “economic” campaign speech did not increase that number. He is incompetent when it comes to leading and governing. He is a one termer.
Report Post »rfycom
Posted on September 9, 2010 at 4:38amPaper rich people do not create jobs people. It is the middle class who do. Look at the numbers. The vast majority of job creators in this country are people who own S Chapter corporations or LLCs. 99.9% of these people make way less then $250K per year. If you make less then $250K per year and you support extended these tax cuts you are supporting an action that is against your own best interest.
You can’t be for reducing the deficit and for these tax cuts. It is the “we the people” who are the middle class who will have to pay for these. THINK don’t let someone else program you.
We are in a two class system now. It is now a left versus right. It is a rich versus poor. The rich have the dollars but the poor have the numbers.
Report Post »Beckofile
Posted on September 9, 2010 at 1:12pmSorry but you can leave the fruits of the labor in the peoples pockets and slash spending. Boom!.. pay down deficits and create economic activity at the same time. Wow what an idea don’t spend money you have to steal from someone no matter what class they are in. When they say the rich it always filters down to the middle class…just check your gasoline taxes, phone bill fees and taxes, payroll taxes, shoot I can’t list them fast enough…..Just remember Trickle Down Taxes/Trickle Up Poverty.
Report Post »Tamoten
Posted on September 10, 2010 at 9:40pmI cannot believe the sheer stupidity I am reading on this post. First is is a demonstrative ignorance of Small Business and their incomes. Look it up you redistributionist advocates. The folks you want to tax are the employers who provide your jobs.
Report Post »But there is a more basic issue here. There is apparently a belief on the left that all income belongs to the government. How else can can you you justify the assertion that failure to raise taxes results in a loss to the Treasury? We could logically assert that that any tax rate less than 100% results in a loss to the Treasury and contributes to the National Debt. But then, that appears to be the the objective of the left. The Government takes all our wealth and provides us with our basic necessities. That, my friends, is the failed system of Communism. Wake up people!
missmarie
Posted on September 8, 2010 at 11:34pmWhat we need is a fair tax system. Perhaps we should be looking for that mentality in the candidates we are about to elect?
Report Post »benrush
Posted on September 8, 2010 at 11:13pmProsperity alert! Another group of prosperous Americans are excelling. Time for the left to drag them down like a group of crabs in a bucket taking down any who try to climb out.
Report Post »MCGIRV
Posted on September 8, 2010 at 10:18pmObama’s a marxist!
semperfigas
Posted on September 8, 2010 at 9:54pmPoor people do not create employment. They never have and never will. Uniform tax laws for all by the same tax percentage for everyone.
Report Post »rfycom
Posted on September 9, 2010 at 5:02amDefine poor. My business did $4M in revenue last year. I paid myself $65K. Of my 21 employees 15 of them made more then I did. If I sold my business tomorrow, I would walk away with about $200K if I am lucky. That’s my American dream for 30 years as a small business owner. If have employed hundreds in my 30 years. I FEEL POOR.
Paper rich people do not create jobs. It is the middle class who do. Do the research and you will see.
Report Post »patriot707
Posted on September 8, 2010 at 9:44pmAgain in America, the left wants to make people that actually work for their money and have personal responsibility look like the bad guys. Hey lefties, people who actually have some principles don’t take government handouts. They work for what they have, and Washington should not punish them for that. Don’t raise taxes on anybody in this economy, or ever!
Report Post »usmc1977
Posted on September 8, 2010 at 9:44pmAnybody ever get a job from a Poor Man ? Wise up folks !!!!! Progressives are ruining this country !!!!!
Report Post »benrush
Posted on September 8, 2010 at 9:29pmThe most prosperous era the US ever witnessed the 150 years prior to the income tax when we were 6 percent of the world’s people, and land mass, and provided 54 percent of the world’s good and services. It was a smart system, that Constitution. Had us going for a long while until some progressive fool plagued us with taxation and an unsound money system known as the Federal Reserve.
Look up “The Creature from Jekyll Island” on YouTube. That’s the sort of education you should have gotten in public school.
Report Post »GarbyBarengar
Posted on September 8, 2010 at 10:31pmReally now?
Like nothing else figures into it historically?
Nothing at all? Really?
Report Post »benrush
Posted on September 8, 2010 at 9:18pmObama is running the Li’l Shop or Horrors, and Democrats are out enmasse holding out their wrists and saying, Please, Please, take some more of our blood!
Why can’t we “afford” to let people keep their own money? Because the FEDS are too busy out MISSPENDING it and lying to the people about the benefits of their misspending.
Why not do what Harding and Coolidge did, and give the money back to the people who can spend it better? Remember the depression of 1920? No? Because it was handled in 18 months by the government cutting its size in half!
Get a clue Democrat robots, get out of your indoctrinated soviet style money shell game. Get out of your alienation and hatred of the wealthy. You could be one of them if you allowed the capitalist system to work instead of trying to confiscate all the fruits of other’s labors. Pay attention to your own garden and quit trying to build your garden by confiscating the plants from other people’s gardens!
Report Post »GarbyBarengar
Posted on September 8, 2010 at 10:42pmThat doesn’t make sense, a democratic system runs contrary to a capitalistic economy.
Report Post »poppopschell
Posted on September 8, 2010 at 11:10pmThe GOP is hardly the party that is interested in the average Joe. Look how they treaterd Ron Paul, a true defender of liberty and the Constitution in 2008. Much of what we see today in terms of people waking up is due to Ron Paul’s POTUS campaign. Look at Ron’s ideas. As
Report Post »GarbyBarengar
Posted on September 8, 2010 at 11:43pmNeed more Ron Pauls, but from all sides of the Argument.
Report Post »dsc07
Posted on September 8, 2010 at 9:12pmThe main reason I feel Obama wants the Bush Tax Bill out of the way is that he wants his own bill with his name on it. The only thing he wants to associate Bush’s name with is the blame game.
just a thought2
Posted on September 8, 2010 at 9:09pmHi Danglingbags,
I was wondering how many people you employ? You seem like a very giving person, how many jobs have you created? I‘m just a lower middle class person and haven’t been able to create any. My cuban friend said the wildest thing tho, no significant jobs have ever been created from the lower or middle class. She said historically speaking the majority of jobs have only been created from the upper class. Those Cubans, they’re crazy!
Report Post »AsianForTeaPartyConservative
Posted on September 8, 2010 at 8:59pmDanglingbags I feel like smacking your filthy bottoms. I guess you find it funny spewing your hateful liberal spin around here. Its people like you and Obama that’s pulling our country down the drain. You are a traitor to our constitution. A traitor to freedom loving people. You are an American Traitor.
Report Post »smartypoop
Posted on September 8, 2010 at 8:39pmI would really hate to be a small or medium business owner right now. Wanna bet the unemployment numbers go up again?
Report Post »GarbyBarengar
Posted on September 8, 2010 at 8:16pmFinally, something Obama did that is actually progressive.
Report Post »MozarkDawg
Posted on September 8, 2010 at 7:54pmObama said the struggling U.S. economy can’t afford to spend $700 billion to keep lower tax rates in place …
**********
Stopped reading right there, obviously 0bama fails to comprehend, in the same way most on the left fail as well, that there is no *spending* going on with less money confiscated in the form of taxation. When he can demonstrate a full understanding of just how the budget works in this country, including the difference between the annual federal deficit and the total National Debt, then he may play his game.
Report Post »TwoMinuteMan
Posted on September 8, 2010 at 8:01pmAgreed
Every time taxes have been cut revenue to the government has gone up because people have more to spend.
Report Post »The Deficit is a result of the governments spending. Revenue to the government and the Deficit are two different topics. As an individual you can run your own deficit by charging on a credit card. Your income doesnt dictate how much you can charge just how much you can pay off.
Eagle07
Posted on September 8, 2010 at 9:13pmDon’t hold your breath waiting for him to realize anything.He makes Carter look like a genius and i’m talking Billy not Jimmy.Jimmy is now Einstein.
Report Post »GarbyBarengar
Posted on September 8, 2010 at 10:38pmWhy do people rag on Jimmy Carter so much? He is a wonderful, intelligent man and a great Christian.
In fact recently he helped negotiate the release of some folks caught in North Korea. Never hear about that though, treated as a foot note in most places.
Report Post »DaveInNC8
Posted on September 8, 2010 at 11:50pmI love POTUS choice of words: We can’t afford to spend $700 billion. Because the government could have collected tax money, but didn’t, does not mean the government ‘spent’ anything. It just means they collected less taxes. If the gov‘t can’t afford to spend $700 billion, what was all that borrowing going on so the government could spend a few TRILLION? I think the gov’t also knew that they could not afford to borrow that much money, either! If you can’t afford not collecting $700 Billion, then stop spending $700,000,000,000, SEVERAL TIMES OVER!
Report Post »dressseller
Posted on September 8, 2010 at 7:15pmGood for you Prez Obama. You really are showing those awful wealthy people. It’s about time someone took them down a peg or two. …Now nevermind that these same people won’t be able to hire, won’t be able to grow or expand their business, won‘t be able to invest in new and innovative technologies that would’ve created wealth for generations to come.. heck, many of those eveil rich probably won’t even keep their doors open if they are business owners which may actually make the job situation and unemployment worse, and don’t even think about the fact that many of these dastardly evil rich are smart enough to know how to shelter a majority of their money from your government takeover scheme whether they are business owners or not. ..That’s all beside the point. Let the country go to hell. I‘m sure once it’s collapsed, you’ll find great comfort as you sit in your ivory tower looking down on the mass of destruction you caused and the newly extinct middle class as we scrounge for crumbs on the ground.. ..Take heart.. you’ll feel all smug and holier than thou because at whatever cost……you stuck it to those evil rich.
Report Post »LesterWillox
Posted on September 8, 2010 at 7:36pmThe top marginal tax rate in what many would call the most prosperous era of the USA was around or even over 90%.
http://www.truthandpolitics.org/top-rates.php
Report Post »GarbyBarengar
Posted on September 8, 2010 at 8:22pmUh, The top comment here, its kinda nonsense really.
Considering that those who benefit from the Bush Tax cuts don‘t even pay as much taxes as the poorest person i’d say go ahead and be rid of them.
All considering the rich have done incredibly well yet they do not share that success with their employees, why is that?
Report Post »poppopschell
Posted on September 8, 2010 at 11:21pmAll the greatest growth periods in USA history are when taxes were the lowest. Where did you ever get that 90% was best??? Hey, if you can support this thesis with facts, I’ll gladly admit my error.
Even the great Democrat JFK argued for tax cuts and by the end of the 1960′s there was low unemployment and great economic growth without huge deficits even though LBJ had a butter .and guns budeget. During Grover Clevelands’ time (he was the last true Constitution loving Democrat), the biggest problem was how to best spend the budget surplusesYes and great prograss occurred in the 1920′s under low taxes of both Harding and Coolidge and 1/3rd of the3 sdebt was paid off.
The problem is that both the DP and GOP have sold out small government to special interests. That is why Democrats and GOP teabaggers MUST “take over” both parties. Then we would be arguing for the best ways to have small govt, no deficits and pay down the debt. Now we have the DP being totally big government with the GOP being big government LITE.
Report Post »tommee
Posted on September 9, 2010 at 11:12amIt is a myth that lower tax rates for the rich create jobs and stimulate the economy. Throughout American history, the upper tax rates have been much higher than the current rates for the wealthy. Historically, our economic problems occurred when rates dropped substantially for the upper bracket. In 1929 when the stock market crashed, and the great depression started, the tax rate for the rich was 24%. In 1932 the tax rate went up to 63% and stayed high, even reaching as high as 94% in 1944 & 1945. The rates stayed high until Ronald Regan and have continued down, with a slight bump for Clinton, until today’s economic mess. Most of America’s years of economic prosperity occurred when tax rates for the wealthy were much higher than they are today.
source: http://www.truthandpolitics.org/top-rates.php
Report Post »GlennBeckIsADemagogue
Posted on September 8, 2010 at 7:09pmWhy ordinary hard-working Americans vote Republican so that the rich can get richer is something i will never understand.
Report Post »dressseller
Posted on September 8, 2010 at 7:20pmWell.. think about it this way.. …With a conservative vote.. you are saying that I HAVE A CHANCE TOO!.. a chance to make it too.. a chance to work hard and become anything I choose to be because by and large the conservatives believe that we all blaze our own trail and we have that right to try. …With a progressive/liberal vote you are saying …forget it. I want nanny-state to take over everything in this country and just dole it out as they see fit. Forget personal responsibility ..forget accountability. ..forget self-respect even.. because there is no incentive.. there is nothing to work for.. The government owns it all and giveth and taketh away as it sees fit. ..Only the elite ruling class will be successful in your world.. ..At least in a conservative world.. we all do have a shot at the brass ring if we want to work hard enough to achieve it. ……..Stop being jealous of those who HAVE made it ..and join the game to make it yourself.. ..without expecting mommy-state to level the field for you.
Report Post »TwoMinuteMan
Posted on September 8, 2010 at 7:32pmYou dont understand it because you are obviously a socialist.
Hard working Americans Vote Republican so they can can see the fruit of their labor and eventually become wealthier and give their families a better life and do what they see fit with THEIR money. Not what you think they should do with it.
People vote Democrat so they can get government handouts that keep them in poverty and addicted to a welfare state that keeps them from ever doing better.
Report Post »GarbyBarengar
Posted on September 8, 2010 at 8:34pmI don’t either, and I don’t understand why people fall for the rags to riches nonsense. I am not saying that hard work, dedication, and frugality can earn some loot. Quite the contrary. But it is a sad day we as human beings would rather forsake the sick, the old, and the poor, just for the sake of profit.
I find it disgusting though that people constantly throw around that government reliant stereotype too. The people who rely upon government welfare are usually the old and very sick who cannot pay for food and have to use the money they do get to pay for their house and medical bills. Also what about the people who cannot work? The physically disabled Veterans, or just anyone physically disabled? Do we forsake them too? But we have sadly.
And besides all of this, this country does not even have what I would even call a welfare system in the first place.
tommee
Posted on September 9, 2010 at 9:08amDRESSSELLER… When the Bush cuts expire for the rich, the rich will still be the rich, you will continue to have your constitutional freedoms, and you will still be able to ‘make it’. The only difference is that you will be able to ‘make it’ a little easier.
Because the Bush cuts weren’t paid for, they became a major part of the national debt. When the cuts expire, the debt will be lowered. More money will be able available for your education and health care to help you on your road to ‘making it’.
sosted
Posted on September 9, 2010 at 3:10pmAnd you never will, it‘s about what’s best for the long haul not the next election. No poor or lower middle class person has ever hired me or created jobs. A simple object lesson: When you tax business owners they incorporate the tax as a business expense into the goods and services they provide. When they cannot expand the business due to increase costs of doing business they cannot hire new employees. Ultimately the lower and middle class are the recipients of this tax. Simple!!
Report Post »seminator
Posted on September 9, 2010 at 8:28pmI vote conservative because I believe in the system saet up by our founder. based on Biblical truths, God fearing and free. I have been out of work for a while and I blame the socialist, progressive, tyrenical leader of this country who think more about getting re-elected than about what is best for our country. Those 545 people in Washington work for us. We DO NOTor them. I believe it is everyones responsibility to care for those unable to work but, It is NOT the governments place to decide how much I should give to help them. see on a daily basis people who can work, who recieve welfare, foodstamps, government subsidies etc and I who have been working all of my adult life have trouble getting help with things after losing a job or having an accident. I have to go through a major jumping througfh hoops to get any help. I am a white male in my late 40′s. That is why I vote conservative. And right now conservative is more often than not Republican.
Report Post »Tamoten
Posted on September 10, 2010 at 10:32pmI can tell you. I was raised in a hardcore Democrat family. My Dad was a building superintendent, dedicated union man. My Mom was Irish Catholic who worked to elect Al Smith. But then I saw how my Dad got screwed by the Unions. I saw who raised my taxes and who lowered them, and I realized that we’d been sold a lie. The Democrats are not for the working man, nor are Republicans anti-Catholic and against the working man. I was the only white kid at St. Anthony of Padua’s school (Prospect Ave & 165th St in the South Bronx.) The Democrats filibustered every civil rights act that was introduced, strange, I thought, for the party of the common man. But still, that was only Southern Democrats. Surely, the real Democrats would repudiate them. But they didn’t. And time marched on. I volunteered for service in Vietnam and I served there during the bomb and bullet shortage. The Democrat SecDef explained this as a overage of pilots and gun tubes, and the Democrat Congress said “Amen.” So maybe, just maybe Republicans aren’t all evil and those of us who decided to vote Republican some of the time (I usually vote Libertarian) aren’t fools. We have learned from experience. I hope that you reflect on your experiences and do the same.
Report Post »poppopschell
Posted on September 8, 2010 at 6:56pmI happen to believe that taxing the very wealthy heavier is a good idea despite the GOP arguments. These people often fail to donate to help the less fortunate in any big way and often use conspicious consumption.
Report Post »TwoMinuteMan
Posted on September 8, 2010 at 7:25pmUm… Because america is so wealthy we were able to donate 500M to Haiti and the regular joe public alone added over 10M to that just by texting Haiti on their cell phones.
The only thing taxing the “Wealthy” does is cut funding to their businesses and available cash flow to do things like hire contractors to build things and improve their lives as well as hire more employees for their businesses.
When they tax people making over 250k a year they are taxing SMALL BUSINESSES who have to declare their businesses income as their own personal earnings. Something they then have to pass on to their customers in the form of higher prices and lower pay and benefits for their employees in order to maintain a profit margin in order to keep their doors open.
Report Post »chiquelitz
Posted on September 8, 2010 at 7:32pmWrong…people w/ ‘lots of extra money’ do donate to charitable causes…except the Obamas. They have one of lowest % of income donations to charity than any President to date.
Report Post »baldwin4freedom
Posted on September 8, 2010 at 8:31pmTaxing individuals directly is all about power over ALL people. The president wants to talk about fear, how about the fear of the IRS taking everything you have saved so that they can give it to someone that can work but will not work.
Report Post »smartypoop
Posted on September 8, 2010 at 8:36pmPoppopschell- I sit on the board of a nonprofit Senior Center. We rely heavily on grants and donations as do a zillion other nonprofit organizations. I can tell you for a fact that corporations DO donate heavily to community programs, foundation support and grants to non profits. I can also tell you that during an economic recession they donate less, because they have to answer to share holders for their profit margins. This year we had to cut out 6 different programs that benefit our needy elderly, because corporations cancelled the grants. While you’re busy demonizing the “greedy corporations” perhaps you should consider that many folks count on them for jobs and community support. They close the gap between the needy individual’s pocketbook and government subsidies. Without corporation grants and support, non profits are toast.
Report Post »Patriot Watch
Posted on September 8, 2010 at 9:18pmThis will be one of the final nails in the coffin. I LOVE how in your opinion TAXING is the solution. Why not foget the PROGRESSIVE ideas and the Republican ideas and go sit in your back yard and think about it for awhile. Come up with your own idea of what this country needs to do. Take $50,000 away from a “rich” guy/gal and see $50,000 disappear from the economy. Just what Obama wants IN MY OPINION
Report Post »poppopschell
Posted on September 8, 2010 at 10:50pmTwo minute: I find it interesting that you seem to be mose inbterested in the rich than in the middle class. Why is that? Nearly 70% of the GDP comes from consumer spending and most of that comes from the middle class. Tax cuts on the middle class will place more money to spend and save so that the rich can create the jobs to meet that demand. I have no problem giv9ing tax cuts to the rich if t5hey rewards for creating jobs but that often doesn’t hapen. It is the small entrepreneur: folks that have less t5han 100 employees who create 70 of the jobs.
Report Post »poppopschell
Posted on September 8, 2010 at 11:01pmSmartypoop: I’m not demonizing corporations??? I am critical of rich individuals who are insenitive of the less fortunate among us.
Yes, I realize that corporations do give money to help nonprofits. But a very small % of profits. I’m fully aware that Milton Friedman ar4gued that corprorations should NOT be socially res[ponsible to their communities. Yes, the investors should be rewarded for taking risk and giving to charity takes some of that money from them. Nothing, however, is stopping the shareholders to give up more of the profits to help less fortuante neighbors.
Aren’t you upset about the type of ridicoluos salaries that many, many top management make even when companies aren’t doing well? They hold back on giving through the company and take much of the profits away from shareholders and the community. These rich are simply selfish. How many are taking pay/compensation cuts in this down economy? If they did then profits would be avaible to help the less fortunate. Our mangement class in all too many instances are only after the enrichmernt of themselvesFYI, I spent 30 years as a University Business Professor so I’m certainly NOT anti-business or against reasonable rewards for management tied to success.
Report Post »poppopschell
Posted on September 8, 2010 at 11:04pmPatriotwatch: Your post IMO is very silly. You ASSUME MUCH ABOUT ME WHICH IS UNTRUE. You are doing the same thing progressives often do.. spin what a person is saying.
Report Post »richierich
Posted on September 9, 2010 at 8:28amI think people, wealthy or not, should help those less fortunate. I also think that everyone believes that.
The problem is CHOICE. Everyone makes their own CHOICE to help those less fortunate. The government does not have the right to legislate that CHOICE on my behalf. That’s a violation of freedom and liberty.
When it comes down to it, the major differences in political philosophy is who gets to make that CHOICE: the government or the individual. How is it that the individual has lost the right of CHOICE?
Report Post »stone2016
Posted on September 9, 2010 at 4:46pmWe are concerned about the wealthy because we need jobs. Where is the arguement that middle class and poor create jobs? Or do we just collect the money from the rich and have the government provide jobs? how long would that last?
Also, taking money from people under the guise that “they don’t give enough” is immoral. How much should they be required to give and who is the “All-knowing” that should decide? Should it be up to you? Obama who donated 6% of income (tax return 2009)? VP Bidden who donated 1.4% of income (tax return 2009)? How much is enough? 6%, 35%, 99%?
Report Post »HONDO_LANE
Posted on September 10, 2010 at 1:39amPOPSHELL , I think you’ve popped too many shells. Most wealthy people, not only give generously to charities, but they also put big dollars in the economy both in creating jobs from their businesses but also by increasing jobs by the amount of products they buy. All is good for our economy. The more they are taxed, however, will reduce all the above accordingly !!!
Report Post »Psychosis
Posted on September 14, 2010 at 5:02amum the “rich” pay more than 50 percent of ALL taxes in this country…… im sure you would just love to pay their tax rates im sorry but you are very much uninformed and it shows when you buy into obamas class warfare
Report Post »Modern Patriot
Posted on September 8, 2010 at 6:53pmObama says “I understand that. I also understand that in a political campaign, the easiest thing for the other side to do is ride this fear and anger all the way to Election Day,”
I guess he does, that’s how he got elected. The American people won’t be fooled again this November. The lier in chief has been telling tall tales since 2007. Were listening now.
If you want to spread the word on what Obama and the Democrats have been doing over the last two years there is a book that will help remind you. It‘s a parody on O and the Dems set to a famous children’s book that I am sure you will recognize. It is funny and educational at the same time. Support Capitalism and bye the book. http://www.obamaparody.com/index.php?id=T1
TwoMinuteMan
Posted on September 8, 2010 at 6:40pmHe clearly DOSNT know anything about creating jobs or stimulating the economy.
Cutting taxes on indviduals making over a Dollar amount is stupid considering most small businesses have to use their own personal bank accounts for their businesses. Which means no tax breaks for small businesses and less people hired.
If Obama is against something that means it is good for the country.
As high as unemployment is and as high as the deficit is I think it is time for a flat tax rate. Around 12.5 – 13% across the board for individuals and businesses.
Report Post »baldwin4freedom
Posted on September 8, 2010 at 8:26pmThe flat tax will end the class warfare, but it will not solve the whole problem. We must do away with the income tax totally. Then institute a sales tax only after we have cut government spending by fifty percent.
Report Post »iatoala
Posted on September 8, 2010 at 9:40pmWell I guess he does have a talent for stimulating Chris Mathews. Way to go Potus! Stud.
Report Post »Wicked Wendy
Posted on September 9, 2010 at 4:09pmSign me up for the flat tax! And, Dinglebags or whatever your name is: You are NOT a Tea Party Person!
Report Post »thunder4570
Posted on September 9, 2010 at 10:11pmI agree with the idea of a flat tax in principle ,but if you dont put limits on the percentage that are impossible to raise, the money grubbing, private property hating, leeches of society will have us back to paying 75% of our hard earned money to supports those lazy individuals that sit around in their underwear and try to get a rise out of people by blogging nonsense!
Report Post »Sentry353
Posted on September 10, 2010 at 5:53amI would agree with Art Laffer on this one; that a flat tax of 10% across the board (income and capital gains) is more than enough revenue for the federal government to operate off of. That is of course if they reduce spending on or eliminate entitlement programs, get ride of departments that haven’t been productive since the inception (Dept. of Education), and stop subsidizing business in what should be a “Free Market”. Ah but to dream about fiscal responsibility from a constitutionally limited government that promotes a free market economy …
Report Post »Beckofile
Posted on September 8, 2010 at 6:20pmCan’t compromise on leaving the fruits of the peoples labor in their own pocket because the socialist already spent the money, even before the heist actually happened. A robber can’t afford not to steal once the credit card statement arrives in the mail box???
Report Post »danglingbags
Posted on September 8, 2010 at 6:47pmthis is an outrage to us tea partiers. we have worked very hard to protect the interests of the rich and powerful at the expense our interests for a long time. how dare obama look after the interests of the middle class and poor. i am very concerned that sarah palin and glenn beck will have to pay more taxes.
i am willing to pay a higher percentage of income tax if that means lower taxes for them. and what about dick armey who has pumped in all kinds of lobbyist and wall-street money into the tea party while claiming we are grass roots….he will pay more taxes too. SAD.
US TEAPARTIERS NEED TO FIGHT FOR THE RICH GUY……WHO IS WITH ME..
REMEMBER..GOD IS GOOD BUT GOLD IS GREATER ….BUY GOLD
just a thought2
Posted on September 8, 2010 at 9:05pmHi Danglingbags, how many people do you employ? You seem very giving, how many jobs have you created? My cuban friend said the craziest thing the other day, she said no jobs have ever sprung from the lower and middle class.
Report Post »Eagle07
Posted on September 8, 2010 at 9:07pmMaybe if he taxed the other 7 or 8 states we would have enough money.
Report Post »iatoala
Posted on September 8, 2010 at 9:08pmHe also refuses to take his head out his anus too!
Report Post »DoWhatsRight
Posted on September 8, 2010 at 10:53pmPLEASE stop responding to ‘Danglebags’ – that is why he responds so much – you keep feeding him what he wants – Like Al Sharpton – he thrives on RECOGNITION. Ignore, and he goes away – (Unless its his paid job…. but ignore anyways ) It brings the wrong atmosphere to what we are trying to achieve.
Report Post »Brooke Lorren
Posted on September 9, 2010 at 7:45pmNice one infiltrator (bags, not beckofile). I have to say… we make so little money at our house, I long for the days when we were living high off the hog making $20k a year. We’re working hard to change that though (starting a business, dh in law school and starting another business, etc.).
I have grandparents that worked their whole lives and saved. My grandpa owned a business for about 40 years. They were so cheap that they didn’t even own a color television set until the 1990s, and they still don’t have cable TV. The business was successful… you don’t think that they have money? Ever read the Millionaire Next Door? I haven’t been in their bank accounts but they fit the profile.
I hope that grandma outlives all this madness (fortunately, she’s still quite healthy and strong). It’d suck to see all of their hard work and sacrifice go to the government once these tax cuts are repealed. The increase in the inheritance tax isn’t going to hurt the rich, it’s going to hurt people making between 10k and 50k a year. Is 10k the new rich? If so, I guess I’m more fortunate than I thought.
Report Post »thunder4570
Posted on September 9, 2010 at 10:03pmI love that any politician that is against tax-cuts says that we cant afford it. I dont know about the real world but if i dont make as much money, i dont spend more to compensate for the money i lost. It seems to work for me! I wish it was the other way around, I could rack up some serious debt then print me some money to pay for it! Or maybe i could go to my neighbors and tell them they are responsible to pay for my bad choices.
Report Post »Sentry353
Posted on September 10, 2010 at 5:41amDbag, it’s nice to see that you are no longer using ALL CAPS constantly anymore, but you still have a long way to go to perfect your skills as an infilltrator. By all the other comments you’ve made on The Blaze, we all know you haven’t got a clue what the Tea Party is about or what it stands for. Keep trying and we’ll keep praying for you!
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