Obama dares GOP to oppose middle class tax cuts

  • metta

    Posts: 39169

    Jul 09, 2012 9:31 PM GMT
    Obama dares GOP to oppose middle class tax cuts

    http://www.washingtonpost.com/blogs/plum-line/post/obama-dares-gop-to-oppose-middle-class-tax-cuts/2012/07/09/gJQAqfBYYW_blog.html
  • Posted by a hidden member.
    Log in to view his profile

    Jul 09, 2012 9:38 PM GMT

    tumblr_m6wv4qz1bw1qat9xfo1_500.jpg

    Basically, every news outlet in the country is reporting that Obama wants to extend the Bush tax cuts for those making under $250,000 per year. In fact, even Obama himself describes his own plan that way. But it's not true.

    What Obama is actually proposing is to retain the Bush rates on all income under $250,000. If you're a middle-class wage slave, this applies to all your income. If you're a Wall Street lawyer pulling down half a million per year, it applies to half your income. Everyone would have lower taxes than they did in the 90s. The table on the right shows how this would work. (The tax brackets are approximate and apply to married couples filing jointly.)

    So the question is: what's the best way to describe this? The Obama way ("keep the tax cuts for anyone making less than $250,000") is more populist and a lot easier to understand. The technically correct way is more complicated, but it reduces the alleged class warfare angle a bit. Obama isn't taking away all the tax cuts the rich got from Bush, just some of them.

    So which is better? More populist or more centrist-y? Decisions, decisions.....
  • Posted by a hidden member.
    Log in to view his profile

    Jul 09, 2012 9:44 PM GMT
    Several Democrats have come out against raising taxes on anyone during these times, and there is also disagreement among those who support it what the level should be. Pres Clinton also suggested not to raise taxes on anyone at this point, but walked that back when the WH had a hissy fit.

    Reported that given the economy is in the crapper and will remain so, the Obama campaign has given up trying to do anything to help and will rely on trying to deflect attention away and rally the base. The base, I.e. far left is driven more by class envy and bitterness than the condition of the economy.
  • Posted by a hidden member.
    Log in to view his profile

    Jul 10, 2012 2:55 AM GMT
    Maybe we should not expect our elected millionaires to make decisions on tax cuts that affect their own wealth,
  • Posted by a hidden member.
    Log in to view his profile

    Jul 10, 2012 3:44 AM GMT
    smartmoney saidMaybe we should not expect our elected millionaires to make decisions on tax cuts that affect their own wealth,




    Good point !!! the conflict of interests among our elected (or should I say 'purchased') officials are at all time highs. Its time for some major changes that's for sure.
  • Posted by a hidden member.
    Log in to view his profile

    Jul 10, 2012 3:50 AM GMT
    socalfitness saidSeveral Democrats have come out against raising taxes on anyone during these times, and there is also disagreement among those who support it what the level should be. Pres Clinton also suggested not to raise taxes on anyone at this point, but walked that back when the WH had a hissy fit.

    Reported that given the economy is in the crapper and will remain so, the Obama campaign has given up trying to do anything to help and will rely on trying to deflect attention away and rally the base. The base, I.e. far left is driven more by class envy and bitterness than the condition of the economy.

    ---------------------------------------------------------------------------------------

    God what a twist SoCal, Obama has given up because the party of no has exercised so much intransigence in their efforts to make "Obama a one term President" that it is useless to try until after the elections.


    You fit this saying so well about the far right republicans that I just have to repeat it. . "I'LL SEE IT WHEN I BELIEVE IT". You're so blinded by your partisan politics that I'm embarassed for you ~!!!!