President Obama Calls for $1.6 Trillion Tax Increase

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    Nov 14, 2012 3:05 PM GMT
    http://taxprof.typepad.com/taxprof_blog/2012/11/president-obama.html
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    Nov 14, 2012 3:35 PM GMT
    I have no problem with taxing the hell out if the rich and corporations. For the past 30 years, they have kept all the wealth generated by Americans. So taxing them is just taking the money each if us should have gotten individually. At least this way we'll get it thru our gov't.
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    Nov 14, 2012 3:43 PM GMT
    Caslon21000 saidI have no problem with taxing the hell out if the rich and corporations. For the past 30 years, they have kept all the wealth generated by Americans. So taxing them is just taking the money each if us should have gotten individually. At least this way we'll get it thru our gov't.


    I can see that if you're talking about companies like GE that have benefited enormously from laws and regulations written to favor them... but what about companies like Google or Apple? And when you say you'll get it through your government, what do you mean?
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    Nov 14, 2012 9:31 PM GMT
    I say let all the Bush tax cuts expire and then repeal all the giveaways from the Republicans pushed through from 2001-2007.

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    Nov 14, 2012 9:34 PM GMT
    Caslon21000 saidI have no problem with taxing the hell out if the rich and corporations. For the past 30 years, they have kept all the wealth generated by Americans. So taxing them is just taking the money each if us should have gotten individually. At least this way we'll get it thru our gov't.


    icon_rolleyes.gif

    Don't make me side with Riddler, It would not be pretty.
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    Nov 14, 2012 9:37 PM GMT
    showme said
    Caslon21000 saidI have no problem with taxing the hell out if the rich and corporations. For the past 30 years, they have kept all the wealth generated by Americans. So taxing them is just taking the money each if us should have gotten individually. At least this way we'll get it thru our gov't.


    icon_rolleyes.gif

    Don't make me side with Riddler, It would not be pretty.


    Caslon's first two sentences are unimpeachable. The other two I'm not sure exactly what he means.
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    Nov 14, 2012 9:43 PM GMT
    Maybe I should just write you guys a check directly. At least then my taxes would be going to support a gay cause. icon_wink.gif

    (I pay a significant amount of taxes at the highest marginal rate. I don't have any weird deductions. So I'll get screwed. But at least I'll have more rights. Hopefully. Eventually.)
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    Nov 14, 2012 9:56 PM GMT
    http://www.washingtonpost.com/blogs/wonkblog/wp/2012/11/14/simpson-bowles-style-tax-reform-begins-by-ending-the-bush-tax-cuts-for-the-rich/The list of things that Simpson-Bowles supporters don’t seem to know about Simpson-Bowles is long and I intend to try to correct it in the coming days. But foremost on that list is that Simpson-Bowles begins by assuming the expiration of the Bush tax cuts for income over $250,000. It’s built into the “plausible baseline,” which you can read about on page 62 of the proposal.

    Having banked the revenue from those tax cuts, it then turns to tax reform. In total, Simpson-Bowles ends up raising about $2.6 trillion in taxes. That’s a lot more than the $1.6 trillion Obama is looking for. But both Obama and Simpson-Bowles start the same way: By letting the Bush tax cuts expire for income over $250,000.


    I think somebody here was a fan of Simpson-Bowles.
  • roadbikeRob

    Posts: 14345

    Nov 14, 2012 10:11 PM GMT
    This is the only viable way the US is going to get out of its serious deficit. Taxes are going to have to be increased and spending, especially defense spending is going to have to be cut at the same time. It is time to pull the plug on the military industrial complex.
  • coolarmydude

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    Nov 14, 2012 10:37 PM GMT
    yourname2000 saidYou're in Hong Kong, Clement....the "worst" thing that can happen is that this drives more US businesses to outsource their American jobs through your HK outsourcing company to manufacturers in China.....kaching for you, no? icon_rolleyes.gif


    tumblr_m7psu08tzd1qkreij.gif
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    Nov 14, 2012 11:11 PM GMT


    Zzzzinnngggggg! icon_lol.gif
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    Nov 14, 2012 11:12 PM GMT
    riddler78 said President Obama Calls for $1.6 Trillion Tax Increase
    Can I use PayPal's "Bill Me Later" program?