BoochCXXXVIII wrote:
I don't know about everyone else who was following the campaign, and the election through out, but I was to understand from the beginning that Obama was going to raise taxes for people who make $200,000+ and businesses $250,000+, and everyone else was going to see nothing raised. So far that still seems to stand... I dont know, guessed I missed something.
Or just "forgot" something?
Obama's tax plan. That's what he promised during the campaign. Some snippets:
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# Cut taxes for 95 percent of workers and their families with a tax cut of $500 for workers or $1,000 for working couples.
# Provide generous tax cuts for low- and middle-income seniors, homeowners, the uninsured, and families sending a child to college or looking to save and accumulate wealth.
# Eliminate capital gains taxes for small businesses, cut corporate taxes for firms that invest and create jobs in the United States, and provide tax credits to reduce the cost of healthcare and to reward investments in innovation.
Further down, the parts relevant to possible tax increases:
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* Middle class families will see their taxes cut – and no family making less than $250,000 will see their taxes increase. The typical middle class family will receive well over $1,000 in tax relief under the Obama plan, and will pay tax rates that are 20% lower than they faced under President Reagan. According to the Tax Policy Center, the Obama plan provides three times as much tax relief for middle class families as the McCain plan.
* Families making more than $250,000 will pay either the same or lower tax rates than they paid in the 1990s. Obama will ask the wealthiest 2% of families to give back a portion of the tax cuts they have received over the past eight years to ensure we are restoring fairness and returning to fiscal responsibility. But no family will pay higher tax rates than they would have paid in the 1990s. In fact, dividend rates would be 39 percent lower than what President Bush proposed in his 2001 tax cut.
* Obama’s plan will cut taxes overall, reducing revenues to below the levels that prevailed under Ronald Reagan (less than 18.2 percent of GDP). The Obama tax plan is a net tax cut – his tax relief for middle class families is larger than the revenue raised by his tax changes for families over $250,000. Coupled with his commitment to cut unnecessary spending, Obama will pay for this tax relief while bringing down the budget deficit.
These are not my words. These are direct campaign promises from Obama. It wasn't "We're going to raise taxes on anyone making over $250k. It was "everyone under 250 will get lower taxes and those over 250 will at worst pay the same rates they paid in the 1990s".
What he was promising was that the only tax "increase" was to let the tax cuts passed by Bush expire, but only those parts which applied to folks making over 250k. Do you really think that's going to happen? Or do you think they're all going to pay more?
More to the point, do you really think the *only* people who's taxes will go up are those making over 250k? Are you that gullible?
Notice the final promise. He says that it will be a "net tax cut" on the economy as a whole, reducing federal revenues to less than 18.2% of GDP (let's ignore that for most of Bush's term it's been less than that, so this is still an increase). Do you think that federal revenues this year will be less than 18.2% of GDP? And if so, how much deficit will he run to keep it that low? And in 6 months or a year, what are the odds that he'll "have to" raise taxes. See. He wont want to, but he'll be forced to...
I'm sure he'll give a speech about how he really wanted to do all these wonderful things, but he was handed an economy in distress and the responsible thing will be to "pay for the cost" of the economic recovery (ie: raise taxes dramatically).
Again. Are you all really this gullible? The Dems are the ones pushing massive increases in spending. That's the bill we're all going to have to pay very very soon. We simply cannot sustain a yearly deficit that is over a third the size of the entire federal budget. He'll have to raise taxes. And when he does, it wont be because of the failing economy he was handed, but because of the massive spending spree he and his party went on when they took power.
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For now though, I am just throwing out that I agree for the most part with Smash. *shrugs*
Smash is a far left socialist. He says what he says knowing that it'll convince people like you to accept policies you'd never accept if they were presented to you honestly. If someone asked if you were ok with increasing government spending by 1.5 Trillion dollars a year, and raising taxes to pay for it, you'd *never* agree. But if there's a crisis and they convince you that the spending is necessary, you'll go along with it. And then, down the road, when it's suddenly "realized" that there's no way to pay for all the necessary stuff they passed without raising taxes, you will reluctantly agree that it's the responsible thing to pay for it by accepting higher taxes rather than passing that debt on to our children (insert sad music here).
You're being played like a fiddle. Really. But don't believe me. Just watch. Pay attention to how they sell the inevitable tax hike that'll pay for all of this and then think back to this post on this day.
