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brookiecookie87
Should 98% of America lose tax cuts because the GOP/Top2%?
November 11, 2012 at 4:45 PM

Obama To Boehner: Higher Taxes On The Wealthy Or The Bush Tax Cuts Expire

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President Obama and House Speaker John Boehner have each made cursory appeals to cooperation in the wake of Tuesday’s election. But they’re still making incompatible demands about the tax code. And on Friday, President Obama made clear that if Republicans reject the policy goal he campaigned on, all of the Bush tax cuts will expire.

“If we’re serious about reducing the deficit we have to combine spending cuts with revenue, and that means asking the wealthy to pay a little more in taxes,” Obama said in public remarks at the White House. “Right now if Congress fails to come to an agreement on an overall deficit reduction package by the end of the year, everybody’s taxes will automatically go up on January 1.”

In both 2008 and 2012, Obama campaigned on the goal of allowing the Bush tax cuts that exclusively benefit top earners to expire. That would increase the top marginal tax rate from 35 percent to 39.6 percent next year. But Boehner and other Republicans want tax rates off the table and GOP aides suggest higher tax rates can’t pass the Republican House.

In his first post-election press conference, a couple of hours before the President’s statement, Boehner also indicated his willingness to compromise — though he reiterated Republican opposition to raising tax rates. “On Wednesday, I outlined a responsible path forward to avert the fiscal cliff without raising tax rates,” Boehner said.

“There is no mandate for raising tax rates on the American people,” House Majority Leader Eric Cantor said in a Wednesday statement. “There is a mandate for avoiding the fiscal cliff and finding real solutions so we can make life work for people again.”

Obama did leave modest room for negotiations. “I’m not going to ask students and seniors and middle class families to pay down the entire deficit while people like me making over $250,000 aren’t asked to pay a dime more in taxes,” he said.

Boehner could meet Obama’s demand without raising tax rates by limiting tax expenditure benefits for high income people. But for now, Boehner has only suggested that revenues from this sort of base broadening should be used to lower tax rates. Obama, by contrast, is asking the House to pass a Senate bill that would isolate the Bush tax cuts for top earners and allow them to expire.

“The Senate has already passed a bill doing exactly this, so all we need is action from the House,” Obama said. “And I’ve got the pen, ready to sign the bill right away.”

In an official statement, Senate Majority Leader Harry Reid, echoed the President. “The Senate passed a bill to cut taxes for Americans making less than $250,000, and the House should pass it immediately.”

White House Press Secretary Jay Carney was even more blunt. “He will veto any bill extending Bush era tax cuts for the top two percent of wage earners in this country.”

That leaves the onus on Boehner to either pass that bill, or find an equivalent way to take the same amount of new revenue from high income earners. So far, he and other GOP leaders seem unwilling.

“”The increased tax rates that would be allowed under the Senate-passed bill are part of the fiscal cliff that economists are warning us to avoid,” Boehner said in response to the Presidents remarks. “Those increased tax rates will destroy jobs in America by hurting small businesses across the country.”

Senate Minority Leader Mitch McConnell was more strident. “[T]here is no consensus on raising tax rates, which would undermine the jobs and growth we all believe are important to our economy,” McConnell said. “While I appreciate and share the President’s desire to put the election behind us, the fact is we still have yet to hear an actual plan from the President for addressing the great economic challenges we face. What’s needed now is a realistic and specific proposal from the President that can actually pass the Congress.”

They’ve left themselves some wiggle room. But if they don’t squeeze themselves through it, Obama said, everyone’s taxes go up at the end of the year.


Replies

  • Simmeringhearts
    December 5, 2012 at 7:18 AM

    Your problem is you can't get past the tax issue. If a wealthy person thinks that they should be paying too much in taxes, they can easily write a check and give it to charity. It is a huge difference. But, yet, it is real simple. Even for the simplest of minds.

    Quoting brookiecookie87:

    It's because Taxes are not paid on an honor system. People don't pay more because they want to. No one is asking, "Please Allow us to pay more if we want".

    There is a HUGE difference.

    Quoting Simmeringhearts:

    So, you bitch about how you should pay more in taxes. But, yet, hold on to the very amount. Interesting....

    It is not a loaded question.

    Quoting AdrianneHill:

    That is a ridiculous and loaded question. I have come to hate it more than most sanctimonious crap I often hear.

    Quoting Simmeringhearts:

    Did you keep that money that you think you should be paying more in taxes?


    Quoting smalltowngal:

    I don't get into specifics when it comes to our finances but DH and I are in the top 10%. We've gotten away with only paying 2% in Federal taxes before. Something seems wrong with that. 






  • gcecelie
    December 5, 2012 at 12:34 PM

    Take the decision to the people! Let America vote for what should be done. Hell, we pay it anyway :-)

    It doesn't matter what Democrats propose; if they try to combine ideas across party lines we will just always be... like this.


  • gcecelie
    December 5, 2012 at 12:37 PM

    Why are you responding to this moron? 

    When you argue with a fool, from a distance no one can tell which is who.

  • brookiecookie87
    December 5, 2012 at 12:58 PM

    Get pas the tax issue? This is a Tax Issue.

    When we are talking about Taxes it makes sense to talk about Taxes. 

    Again-Taxes are not based on an honor system. Where it is 0% And people pay what they feel they should pay. That is vastly different than our actual tax system.

    Quoting Simmeringhearts:

    Your problem is you can't get past the tax issue. If a wealthy person thinks that they should be paying too much in taxes, they can easily write a check and give it to charity. It is a huge difference. But, yet, it is real simple. Even for the simplest of minds.

    Quoting brookiecookie87:

    It's because Taxes are not paid on an honor system. People don't pay more because they want to. No one is asking, "Please Allow us to pay more if we want".

    There is a HUGE difference.

    Quoting Simmeringhearts:

    So, you bitch about how you should pay more in taxes. But, yet, hold on to the very amount. Interesting....

    It is not a loaded question.

    Quoting AdrianneHill:

    That is a ridiculous and loaded question. I have come to hate it more than most sanctimonious crap I often hear.

    Quoting Simmeringhearts:

    Did you keep that money that you think you should be paying more in taxes?


    Quoting smalltowngal:

    I don't get into specifics when it comes to our finances but DH and I are in the top 10%. We've gotten away with only paying 2% in Federal taxes before. Something seems wrong with that. 







  • Billiejeens
    December 5, 2012 at 6:01 PM

    Please do not insult other members.

    Quoting gcecelie:

    Why are you responding to this moron? 

    When you argue with a fool, from a distance no one can tell which is who.


  • smalltowngal
    December 5, 2012 at 8:12 PM

    I would like to say we did something noble with it but in reality, we're just squirreled it away. It's basically going to help my husband semi-retire by 40.

    Quoting Simmeringhearts:

    Did you keep that money that you think you should be paying more in taxes?

    Quoting smalltowngal:

    I don't get into specifics when it comes to our finances but DH and I are in the top 10%. We've gotten away with only paying 2% in Federal taxes before. Something seems wrong with that. 




  • smalltowngal
    December 5, 2012 at 8:26 PM

    I know we should probably be paying more in taxes. We should probably be donating more than we do too. I signed up for helping out church families and donate a lot to the food bank but I know, we could be doing a lot more ith how much we've been blessed. The problem is we want to go to Europe and that's expensive so instead, we'll be paying for a 5 week vacation with the amount we save in taxes.  

    Quoting Simmeringhearts:

    Let me put it this way, since it really is simple (for most)..

    My husband and I make over $250,000 a year. In fact, this year, we have exceeded that.  We donate about 20 - 25% in cash. I also donate, at least, 100 bars of soap (my product) to the womens' shelter each month. We donate our household items and clothing each year, rather than having a yard sale. We give $100 to the nurse at school to purchase socks, underwear and whatever they decide each year. We purchase $100 in books and other school supplies for our childrens' teachers each year. I also crochet and donate hats, booties, slippers, blankets, etc to the womens' shelter and Childrens' Hospital.

    Now, if I was one of these that say I should be paying more in taxes, then I should be willing to simply write a check for the additional amount and donate it.

    Quoting brookiecookie87:

    It really is.

    Whenever someone ask that question I respond with, "Do you believe Tax should be 0% and paid on an honor system of what we feel should be paid?" Because clearly that is not the kind of system we have.

    Quoting AdrianneHill:

    That is a ridiculous and loaded question. I have come to hate it more than most sanctimonious crap I often hear.



  • Billiejeens
    December 6, 2012 at 2:55 PM


    Quoting smalltowngal:

    I know we should probably be paying more in taxes.  WHY?

     We should probably be donating more than we do too. I signed up for helping out church families and donate a lot to the food bank but I know, we could be doing a lot more ith how much we've been blessed. The problem is we want to go to Europe and that's expensive so instead, we'll be paying for a 5 week vacation with the amount we save in taxes.  You've probably earned it, enjoy yourself.

    Quoting Simmeringhearts:

    Let me put it this way, since it really is simple (for most)..

    My husband and I make over $250,000 a year. In fact, this year, we have exceeded that.  We donate about 20 - 25% in cash. I also donate, at least, 100 bars of soap (my product) to the womens' shelter each month. We donate our household items and clothing each year, rather than having a yard sale. We give $100 to the nurse at school to purchase socks, underwear and whatever they decide each year. We purchase $100 in books and other school supplies for our childrens' teachers each year. I also crochet and donate hats, booties, slippers, blankets, etc to the womens' shelter and Childrens' Hospital.

    Now, if I was one of these that say I should be paying more in taxes, then I should be willing to simply write a check for the additional amount and donate it.

    Quoting brookiecookie87:

    It really is.

    Whenever someone ask that question I respond with, "Do you believe Tax should be 0% and paid on an honor system of what we feel should be paid?" Because clearly that is not the kind of system we have.

    Quoting AdrianneHill:

    That is a ridiculous and loaded question. I have come to hate it more than most sanctimonious crap I often hear.

     

     


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