Obama on Deficit Plan: ‘This Isn’t Class Warfare. This is Math.’
- Posted on September 19, 2011 at 12:00pm by
Jonathon M. Seidl
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WASHINGTON (The Blaze/AP) — In a blunt rejoinder to congressional Republicans, President Barack Obama called for $1.5 trillion in new taxes Monday, part of a total 10-year deficit reduction package totaling more than $3 trillion. “We can’t just cut our way out of this hole,” the president said.
The president’s proposal would predominantly hit upper income taxpayers but would also reduce spending in mandatory benefit programs, including Medicare and Medicaid, by $580 billion. It also counts savings of $1 trillion over 10 years from the withdrawal of troops from Iraq and Afghanistan.
Obama’s recommendation to a joint congressional committee served as a sharp counterpoint to Republican lawmakers, who have insisted that tax increases should play no part in taming the nation’s escalating national debt. Obama’s plan would end Bush-era tax cuts for top earners and would limit their deductions.
“It’s only right we ask everyone to pay their fair share,” Obama said from the Rose Garden at the White House.
Responding to a complaint from Republicans about his proposed tax on the wealthy, Obama added: “This is not class warfare. It’s math.”
Obama vowed to veto any deficit reduction package that cuts benefits to Medicare recipients but does not contain revenue increases.
The Republican reaction was swift and derisive.
“Veto threats, a massive tax hike, phantom savings, and punting on entitlement reform is not a recipe for economic or job growth-or even meaningful deficit reduction,” Senate Republican leader Mitch McConnell said in a statement issued minutes after the president’s announcement. “The good news is that the Joint Committee is taking this issue far more seriously than the White House.”
Obama’s proposal comes amid Democratic demands that Obama take a tougher stance against Republicans. And while the plan stands little chance of passing Congress, its populist pitch is one that the White House believes the public can support.
The core of the president’s plan totals just over $2 trillion in deficit reduction over 10 years. It would let Bush-era tax cuts for upper income earners expire, limit deductions for wealthier filers and close loopholes and end some corporate tax breaks. It also would cut $580 billion from mandatory programs, including $248 billion from Medicare. It also targets subsidies to farmers and benefits programs for federal employees.
Under Obama’s plan, government spending would no longer add to the national debt starting in 2017
Coupled with about $1 trillion in cuts already approved by Congress and signed by the president, overall deficit reduction would total more than $4 trillion, a number many economists cite as a minimum threshold to bring the nation’s debt under control.
Key features of Obama’s plan:
-$1.5 trillion in new revenue, which would include about $800 billion realized over 10 years from repealing the Bush-era tax rates for couples making more than $250,000. It also would place limits on deductions for wealthy filers and end certain corporate loopholes and subsidies for oil and gas companies.
-$580 billion in cuts in mandatory benefit programs, including $248 billion in Medicare and $72 billion in Medicaid and other health programs. Other mandatory benefit programs include farm subsidies and federal employee benefits.
-$430 billion in savings from lower interest payment on the national debt.
- $1 trillion in savings from drawing down military forces from Iraq and Afghanistan.
Full video of the speech is available below:
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Comments (229)
NEAF
Posted on September 19, 2011 at 12:58pmRemember for him (liberals) 2+2=5
Report Post »banjarmon
Posted on September 19, 2011 at 1:20pmBO is using million man march math….HA HA
Report Post »True_American_2008
Posted on September 19, 2011 at 1:23pmIt is worse than that:
Percentiles Ranked by AGI — AGI Threshold on Percentiles — Percentage of Federal Personal Income Tax Paid
Top 1% — $380,354 — 38.02%
Top 5% — $159,619 — 58.72%
Top 10% — $113,799 — 69.94%
Top 25% — $67,280 — 86.34%
Top 50% — $33,048 — 97.30%
Bottom 50% — <$33,048 — 2.7%
Source: http://ntu.org/tax-basics/who-pays-income-taxes.html
In the name of "fairness," Pres. Obama is saying the above percentages for the higher income earners are still too LOW. Only in the warped view of liberal secular progressives and their leming-like followers is increasing the tax burden on higher income earners, those who will be the ones most responsible for creating new jobs "fair."
Report Post »RLTW
Posted on September 19, 2011 at 1:32pmA trillion zeros is still zero.
Report Post »obama-mecca-me-sick
Posted on September 19, 2011 at 1:40pmObama math
Report Post »Over taxing + excessive entittlements + corruption = bankrupting of America
Uncle Spooky dude must be sooo proud!!
rangerp
Posted on September 19, 2011 at 1:43pmyea, it is math alright. You subtract from the hard working, and add to the lazy.
Report Post »old white guy
Posted on September 19, 2011 at 1:53pmmust be new math where 2+2= minus one trillion.
Report Post »SavingtheRepublic.com
Posted on September 19, 2011 at 1:57pm~^~v~~^~~v~^~
Report Post »Arrrrrrrrggggggghhhhh!! >:/
I cannot take this socialist marxist progressive with his double talk and lies. He talks about money, trillions, like its nothing! Trillion here trillion there what the heck. He says this is math when he never ever had to run the books for a company. His math is class warfare it is an attack on those who paid their dues and earned the money already getting taxed once when they earned it now he wants to go after them again! Its only matter of time till many of the wealthy pull out and live off of what they have so they dont have to put up with his garbage. Then there will be nothing going through the system. As others have posted his math is 2+2=5. Everything this chump is doing is by design and its to collapse our system. To also mentally redline everyone, bring it all down and seize power in a crisis. Look it up PDD51, crisis is never defined it can be anything and Emperor Obama added teeth to it with the Council of Governors… http://SavingtheRepublic.com
GeorgieJo
Posted on September 19, 2011 at 1:57pmObummer went to Pepperdine and Harvard.
Did he take ECONOMIC CLASS at either college?
SHOW me the GRADES!!!!!!!!!
Obummer’s math is pathetic.
He’s NEVERdone a payroll in his life.
HEY Warren BUFFET OWES taxes. BO? Call your buddy Warren or TimmyTurboTaxGeithner.
NO BO in 2012!!!!!!!!!
Report Post »platitude
Posted on September 19, 2011 at 2:12pmI love how rich people, particularly those who inherited wealth, love to subscribe to the ayn rand nonsense about “the rich being the productive class”.
we cant tax the “job creators”
king louis the 16 was a “job creator” also. the malcontented frenchmen who revolted, they were just lazy liberals who wanted to steal from the successful. ha ha yeah right
Report Post »platitude
Posted on September 19, 2011 at 2:12pmI love how rich people, particularly those who inherited wealth, love to subscribe to the ayn rand nonsense about “the rich being the productive class”.
we cant tax the “job creators”
king louis the 16 was a “job creator” also. the malcontented frenchmen who revolted, they were just lazy liberals who wanted to steal from the successful. ha ha yeah right
Report Post »Paydert33
Posted on September 19, 2011 at 2:29pmWhat did he say? “We can’t just cut our way out of this hole”. He keeps digging the holes and he keeps wanting the hard working class to pay for his humongous mistakes. His own “job creator” j-nbc-emmelt, is not paying any taxes and is sending jobs over to China. And that little w-buffet owes something like….let me see….oh, yea….only a few BILLION in taxes. This is all a farce. He knows the Republicans will not go along. This was purposely designed this way for his re-election campaign so everyday day, day after day, day after day, we will hear…..the Republicans want the elderly to eat dog food, the Republicans want everyone to die, the Republicans want to starve children, on and on. Wow! How anyone can vote for this marxist liar is beyond my comprehension. The lies are extremely drastic. He is extremely arrogant and extremely dangerous to our Society.
Report Post »marybethelizabeth
Posted on September 19, 2011 at 2:40pmLet me tell you something.
Mr. Beck argued against changing the tax rates on his program today, (and in the past he has stated that he thinks he should be able to set his own tax rate).
Mr. Beck said that the President was talking about fairness but that we should be talking about creating jobs. Mr. Beck then said he has created 120 jobs.
So what is the argument?
He is not saying that he, or other job creators, deserves a lower rate.
He is not saying that it is fair to tax job creators differently.
These points are fairness arguemnts. Mr. Beck said he wasn’t talking about fairness.
Mr. Beck is saying that his tax rate should not be raised because of his force of will. He is arguing that, like a petulant child, he will whine and complain until he gets his way. We should give into him to shut him up.
Only that never works.
Once Mr. Beck gets his way, he will continue to whine and complain about things he does not need or deserve.
A person earning a salary or wages, with his time and skills and expertise, creates the value of a good or service.
A job creator keeps a portion of that value for himself and then pays the balance in salary or wages to the person who created the value of the good or service.
It’s a kickback scheme.
There’s nothing fair about it.
ACLUHater
Posted on September 19, 2011 at 3:53pmThis clown is a total arrogant moron.
Report Post »jimay
Posted on September 19, 2011 at 4:01pmIt IS certainly math. Obama relies on the fact that innumeracy (math illiteracy) is rampant in America.
Report Post »Sleazy Hippo
Posted on September 19, 2011 at 4:32pmSorry to bring this up, but in the USA, math IS “Class Warfare” – eh?
Report Post »NHwinter
Posted on September 19, 2011 at 4:47pmObama is using the new math. Its called Marxist Math.
Report Post »godlovinmom
Posted on September 19, 2011 at 4:56pmspeaking from experience…I “helped” with seven tax returns this last tax season…and my husband and I were the only ones that paid taxes…the others…they ALL received more taxes back then they paid in…now is that “everyone’s” fair share…think NOT
Report Post »AvengerK
Posted on September 19, 2011 at 6:18pmLOL..Obama is the most economically illiterate clown I‘ve seen in a long time and he’s saying “this is math”? You don’t grow economies with taxes. THAT’S the key to improving both jobs and reducing the deficit- GROW THE ECONOMY!!! You don’t grow economies by taxing them harder. You grow them with lower taxes and less (but credible) regulation..then you get out of their way and let the grow. The biggest “stimulus” for jobs growth, Obama won’t even consider…repeal Obamacare.
Report Post »With that growth comes far more revenue than Obama’s punitive taxes. This man is an idiot and he’s emphatic about it too. Today when he recycled his lie from 2008 that he’ll go “through it line-by-line” I knew he was just playing games.
AOL_REFUGEE
Posted on September 19, 2011 at 10:14pmWhere are my comments here, Blaze-dump?
Report Post »AOL_REFUGEE
Posted on September 19, 2011 at 10:18pmIf you don’t like my (mild) comments here, Glenn, then get off my back and kiss Obama’s patoot.
Report Post »survivorseed
Posted on September 19, 2011 at 11:08pm@true american. Those figures are also remarkably close to the amount of america’s wealth these groups own.
Report Post »top 1 percent owns 33.8% of americas wealth
bottom 50% owns 2.5% of Americas wealth
Obama_Sham
Posted on September 19, 2011 at 12:57pm“It’s only right we ask everyone to pay their fair share,”
Except for the 47% that will help me get reelected…
Report Post »RIGEL_ORION
Posted on September 19, 2011 at 1:08pmGotta love the term ‘fair share’. It’s a nice fuzzy class-warfare term that Obama loves to use because he knows his media admirers will never pose the question: What is a person’s fair share and what qualifies you, Mr. Obama, to determine what that is? Is it fair for one person to pay for 70 percent of something while 4 others pay nothing at all?
Report Post »smithclar3nc3
Posted on September 19, 2011 at 1:39pmWhat is the fair for someone top pay for programs they’ll never use?
Report Post »What is the fair share for those more likely to used the programs?
This is bizzaro world math.
The bottom 47% contribute little to nothing and expect a bigger share every year.
Time to put requirements for those using welfare and other on the federal and state Government teets
Like random drug testing,limited time to recieve benefits, have no children while in the system,work 3 days a week for state or local government while collecting benefits….things along these lines.
TH30PH1LUS
Posted on September 20, 2011 at 2:24pmBingo!
Report Post »commonsenseguy
Posted on September 19, 2011 at 12:57pmeveryone pay their fair share,, when, 45%don’t pay tax, and they will not be asked to either, this is class warfare, if they get a check from the government { welfare checks } they should have to perform community service,if they don’t have to pay tax on the money. then and only then would they be paying for their fair share, obama is pushing is ideology,that the rich and middle class can pay for everyone who is to lazy to work, don’t give me this crap that the blacks are being discriminated against because they can find work or no one will hire them and the lazy white folk either, they don’t want to work,it is bred into them,their parents gamed the system and now they are even better at it, and the democommies,and left nut job liberals ,are helping them do it. if they rich want to pay more it should be up to them to write the check ,and i don’t see any left wing nuts job democrats lined up at the post office with their checks in hand.
Report Post »W@nd@
Posted on September 19, 2011 at 12:56pmI would call this fuzzy math! Just like you It don’t add up!
Report Post »AngryAmerican1776
Posted on September 19, 2011 at 1:18pmAgreed. 15 trillion raised to pay off 3 trillion? Where is the rest of the money going? Re-election Campaign?
Report Post »cja23
Posted on September 19, 2011 at 12:55pmPay their fair share, ya sure, Obama (like your buddy Immelt with GE) paid their fair share, none (0) in taxes. You sure have a warped sense of fairness.
Report Post »gramma b
Posted on September 19, 2011 at 12:59pmThe rich are already paying MUCH MORE than their “fair” share.
Report Post »platitude
Posted on September 19, 2011 at 2:07pmyeah , we need to ease the burden on the “hard working”, “self made” millionaires like paris hilton, she is a member of the “productive class.
we cannot punish success!
Report Post »Blackhawk1
Posted on September 19, 2011 at 5:19pmplatitude
I believe Paris Hilton is getting money from her Dad who already paid taxes on it when he EARNED IT. So the liberals want to double tax money. Once when it is initially earned and once again when the earner gives it to his children.
Report Post »Chutz
Posted on September 20, 2011 at 5:19pmActually, Paris Hilton runs several businesses and they are quite successful . Inheritance should not be the focus, only that the government should not take more from one to give to another who did not earn it. Social justice is nothing more than a term to describe rewarding the lazy . The Puritans tried communes and found that they stifled productivity so went to the barter system which thrived the colonies. Do not punish success , learn from error .
Report Post »Taldren
Posted on September 19, 2011 at 12:54pmHow the government gets away with static tax bracket values while being able to devalue the dollar through inflation is mind boggling. We have been fighting over this $250k bracket for decades … corrected for inflation $250k from the 70′s is equivalent to almost $1.5 million dollars today. The $250k bracket today would have been only $43k in the 1970′s. Were people going after people making $43k in the 1970s? Hell no.
People are getting stuck on the numbers themselves without any care for the actual value and that is dangerous.
Its like are these people that get bent out of shape about Oil companies making “Record Profits” … I ask “How can’t they?” when you are making the dollars they collect less valuable they need MORE of them to get the same amount of oil. For instance: $4 a gallon of gas today, corrected for inflation for back in 1980 would have been $1.45 a gallon. In the 1980 a gallon of gas was ~ $1.30 … and most of the difference there is the increase in gas tax since 1980.
Report Post »dmforman
Posted on September 19, 2011 at 2:03pmI agree 100%, but those that listen to the media are unable to think and develop their own thoughts. They are sheep being lead to the slaughter.
What is sad to me is that I was raised to work hard, save, and you’ll do well. My husband and I have done that and I feel like I am now being asked to pay for those that don’t want to get off the sofa and get to work. I don’t mind paying taxes and am not complaining about that, but “poor” people in America aren’t really poor. I
I believe that Democrats won’t be happy until they have everyone living off the government. Hopefully change is coming in 2012.
Report Post »obama-mecca-me-sick
Posted on September 19, 2011 at 3:43pmIts the Robin Hood Presidency.
Report Post »GaryInTheMiddle
Posted on September 19, 2011 at 12:51pmFuzzy math?
Report Post »gramma b
Posted on September 19, 2011 at 12:57pmObama‘s answer to every issue is to use it as an opportunity for the government to grab control of a bigger and bigger portion of the country’s wealth and power. The man is pure evil. This “tax the rich” garbage is pandering to his ignorant, nasty, envious base. These are people who are by and large too stupid and/or lazy to prosper, so they hate those that have prospered. I will never be a millionaire, but I do not hate those who are. “Thou shalt not covet” is one of the Ten Commandments for a good reason.
Report Post »cja23
Posted on September 19, 2011 at 12:57pmIt’s more than fuzzy with Obama, it’s corrupt as all get out. Check out the taxes GE paid (none) as in nothing last year. Isn’t it funny, Obama’s buddy, Jeffrey Immelt, head of GE.
Report Post »knockered
Posted on September 19, 2011 at 12:59pmThey can call it what they want but it’s the same old crap from the same old idiot. It’s really getting old listening to him spew his bulllshit..It‘s time for that change he promised and that’s him leaving office so America can get on with life.
Report Post »commonsenseguy
Posted on September 19, 2011 at 1:00pmyea,and it is and they learned it from a union teacher an d a communist professor, for every dollar saved, there will be three dollars worth of tax, now that is really fuzzy math.
Report Post »warloch
Posted on September 19, 2011 at 12:47pmBelow is a list of symptoms of the mental disorder Reality Dyslexia also known as Liberalism. Keep in mind that some of these symptoms may apply to other mental disorders, however, if you exhibit 3 or more at the same time then you are classified as a liberal.
Report Post »1. You are obsessed with self-benefit.
2. You are jealous of people who have more money than you and covet their property or wealth.
3. You are only happy when owning or possessing the material things that bring you pleasure.
4. You are unable to control your anger.
5. You are chronically or pathologically dishonest.
6. You falsely accuse someone if they disagree with your opinion.
7. You rely on Straw Man arguments.
8. You act irresponsibly or irrationally then blame others for the results.
9. You respond with name calling when unable to justify your actions or opinion with facts.
10. You view all other people as less intelligent than you.
commonsenseguy
Posted on September 19, 2011 at 1:04pmsound like a couple of dictators we know,
Report Post »Bible Quotin' Science Fearin' Conservative American
Posted on September 19, 2011 at 1:32pmSounds like everyone who posts here or goes to church.
Report Post »biohazard23
Posted on September 19, 2011 at 12:47pmCan I use this “logic” when it comes time to balance my household budget? “But, honey, we HAVE to spend more to get out of debt! Cutting back just won’t do it.” Yeah, that would go over about as well as flatulence in a crowded elevator…….
Report Post »JSDAMAN
Posted on September 19, 2011 at 12:45pmWhen are the almost half of American citizens who DO NOT pay ANY income taxes going to pay their “Fair Share”?
Report Post »dswenk
Posted on September 19, 2011 at 1:20pmReally, kind of hard to say pair your fair share when half the country pays no taxes
Report Post »alienguns
Posted on September 19, 2011 at 12:44pmeveryone should pay–I agree—lets start with the 49% of the citizens that don’t pay Income Tax–lets work on that and cutting the dang spending–it isn’t a revenue problem it is a spending problem—I believe this guy is purposely trying to destroy America
Report Post »TaterSalad
Posted on September 19, 2011 at 12:59pmPass the Bill – Pass the Bill ! “I have a box of pens ready to sign this bill”. Oooooooops! One problem. It isn’t ready yet. Maybe next month America. Pathetic!
http://weaselzippers.us/2011/09/19/obamas-jobs-bill-wont-be-ready-until-next-month-after-he-goes-on-another-vacation/
Report Post »commonsenseguy
Posted on September 19, 2011 at 1:05pmit will be ready when he come’s back from another vacation.
Report Post »RLTW
Posted on September 19, 2011 at 1:41pmYes, after vacation and after the msm has washed clean the solyndra scam.
Report Post »wewantchillywilly
Posted on September 19, 2011 at 12:44pmand here comes the next strategy: use the harvard elitist attitude to portray you are smarter than the other opponent because they don’t know simple subjects like math.
i love it when he talks and gives speeches. he continues to become that much more unpopular.
Report Post »Dougral Supports Israel
Posted on September 19, 2011 at 12:44pmObama‘s math doesn’t add up. He adds to our debts while his policies subtract from our wealth. He has multiplied the problems of America while dividing us along racial lines.
Report Post »randy
Posted on September 19, 2011 at 12:43pmA doctor from Israel says: “In Israel the medicine is so advanced that we cut-off a man´s testicles,
we put it into another man and in 6 weeks he is looking for work”
The German doctor comments:”That´s nothing, in Germany we take part of the brain
out from a person, we put it into another person´s head and in 4 weeks he is looking for work”
A Russian doctor says: That’s nothing either. In Russia we take out half of the
heart out from a person, we put it into another person´s chest and in 2 weeks
he is looking for work.
The US doctor answers immediately: That´s nothing colleagues, you are way behind us….
Report Post »in the USA we grabbed a person with no brains, no heart and no baIIs….
we put him in as President and now….the whole country is looking for work
Maji
Posted on September 19, 2011 at 12:42pmI keep looking for “bolts”on his neck!!!
That kind of abillity to LIE has got to be a“ bolt on accessorie”!!
Report Post »Maji
Posted on September 19, 2011 at 12:51pmThe“ Buffet” rule is actually “BOO-fey” rule and is the abillity of the Gov. to feed
Report Post »off of you!
HKS
Posted on September 19, 2011 at 12:41pmAbout Math? Something you obviously know nothing a bout.
Report Post »NuffSaid
Posted on September 19, 2011 at 12:39pmAs the speech goes on, his voice gets squeakier and squeakier. Desperation is starting to show as his eyes widen, his brows raise and deepen the creases in his shorten forehead. He bares his teeth in a grimace, not of a smile.
A primate showing this expression is usually threatening and is not ready to attack, but the mood of a primate can quickly change to violent, direct action if he sees a weakness, even a slight one, in his challenger.
Do not not weaken; Do not blink. Now is the time to attack him on every economic and philosophical front. Do not let this socio-neo nazi rest. Threaten every one of of his pathetic backers–Unions, muslims, commie-psuedo-christians.
This speech is loud, squeal and it is a bluff. He’s got nothing in his hand but his **** and only the same, oldest and infertile or immature males stand behind him.
This is a pathetic show. Don’t take your eyes off him. Could be rabies.
Report Post »Nachum
Posted on September 19, 2011 at 12:34pmObama is a 10 year old: “I know I’m not, but what are you?”
http://www.nachumlist.com/
Report Post »TRONINTHEMORNING
Posted on September 19, 2011 at 12:33pmYou make me puke, Barry!
Report Post »elosogrande
Posted on September 19, 2011 at 12:32pmIt doesn’t matter what he tells us. Here is the cast-in-stone fact.
If they get the additional $1.5 trillion, and they probably will, Obama and Congress will piss that money away on everything but reduction of the deficit. To a man, the only thing they will consider to be good use of this money, will be to buy votes from all the free meal ticket leeches who didn’t go to school, can‘t or won’t get a job, and believe that hard working, taxpayers owe them a living. As long as politicians keep shoveling money to the electorate that put them in office and to their benefactors, we will be forced to keep the trough full for these dirt bags.
Report Post »bandi9
Posted on September 19, 2011 at 12:31pmone lie after another; even if i was a leb, i would be ashamed of this small, petty man
Report Post »GhostOfJefferson
Posted on September 19, 2011 at 12:30pmActually what this is, is a distraction. He knows, we know, everybody knows that everything he’s saying is 100% pure bullcrap. He’s stirring the pot because A) He gets off on people being mad and B) He’s positioning for election day. He knows he’s out in 2012, so he’s doing as much as possible to get people riled up and angry. Day after day after day more and more insanity spews from this Junta, all meant to get us all at each other’s throats. He was, is, and will always be nothing more than a disgruntled, narcissistic, rabble rousing malcontent.
We should not focus on what he says, his crap won’t get introduced on the House floor, let alone given a vote. What we should focus on is ways to get him, and more importantly, his Congressional counterparts, out of power.
Report Post »Komponist-ZAH
Posted on September 19, 2011 at 12:51pm“Under Obama’s plan, government spending would no longer add to the national debt starting in 2017″
…sooooo…we have to wait six years to balance the budget? Why?? And—what a coincidence—won’t that be the year Obama leaves office if he gets re-elected?
A distraction indeed. And a political stunt, too.
“He was, is, and will always be nothing more than a disgruntled, narcissistic, rabble rousing malcontent.”
Unfortunately, he’s a disgruntled, narcissistic, rabble rousing malcontent with power, who adheres to an ideology that, at its core, glorifies, even deifies, power.
Report Post »louise
Posted on September 19, 2011 at 12:26pmthe new math we payed for is not working mr president
Report Post »louise
Posted on September 19, 2011 at 12:25pmnot class warfare. total insanity. this guy is seriously insane.
Report Post »CS_GUY
Posted on September 19, 2011 at 12:24pmMath? What an idiot! Math is useful, you are not….
Report Post »