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Obama: “We Have To End the Tax Cuts for the Wealthiest Americans;” 72 Percent Agree

Obama: “We Have To End the Tax Cuts for the Wealthiest Americans;” 72 Percent Agree

Is it finally time to end the Bush tax cuts for the wealthiest of Americans?  President Obama says yes.

Via the Hill:

Obama spoke at a town hall forum in Reno, Nev., the third such event he is holding during his West Coast swing following the launch of his reelection campaign. 

“We also have to end the tax cuts for the wealthiest Americans. And it’s not because we want to punish success,” he said. “It’s because if we’re going to ask everyone to sacrifice a little, we can’t just tell millionaires and billionaires that they don’t have to do a thing.”

And ending the cuts might not just fill a huge hole in the budget that desperately needs it, it could provide very popular with his reelection prospects, too.  After all, 72 percent of Americans polled recently stated that they agreed with raising taxes on those making more than $250,000 a year.

Now he just needs to figure out how to get them all to show up at the polls in November of 2012.

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9:16AM PST on Jan 1, 2012

Seems to be everywhere, the rich people get more and more money (and influence) and the poor lose more and more, the middle class is going to die. And these people who want to change anything are blocked by these who are against changes.

Only when the last tree has been cut down; Only when the last river has been poisoned; Only when the last fish has been caught; Only then will you find that money cannot be eaten.
(Native American proverb)

"We have learned to fly the air like birds and swim the sea like fish, but we have not yet learned the simple art of living together as brothers." (Martin Luther King)

6:20AM PDT on Apr 30, 2011

Well Diane, it looks like we both made small error. Mine being what I just posted in response to your rebuttal. Yours for the rebuttal.
Turns out the comment & my response were Sharon's.
"Sharon H. says
Apr 24, 2011 6:27 PM
As I told you on another blog, I get SS and a small pension and I paid over $10,000.00 in income taxes."

6:16AM PDT on Apr 30, 2011

"Duncan, who in the world are you quoting as far as copying and pasting the figures in your last response? I'm the only one who mentioned a figure and it was $2940, NOT $10,000 and my GROSS income was under $40,000. My taxes were based on my NET ADJUSTED INCOME, and I itemize."

The IRS! The message I read said that you had income from SS & a modest pension. And that you paid $10,000 in taxes!
I looked at the tax tables to see what income would be required to pay that much in taxes!

11:02PM PDT on Apr 27, 2011

Duncan, who in the world are you quoting as far as copying and pasting the figures in your last response? I'm the only one who mentioned a figure and it was $2940, NOT $10,000 and my GROSS income was under $40,000. My taxes were based on my NET ADJUSTED INCOME, and I itemize.

I don't know what Obama, personally pays for taxes and it's not relevant really. The point is that those who have high GROSS incomes should pay more (in proportion to such income) as the middle and lower income classes. As was mentioned, a flat tax won't work and eliminating deductions for medical care, property taxes and such would severely penalize those who have such expenses and probably make it even less likely that many would seek needed medical care or want to purchase their own property.

Rebecca, I don't know where you got your "inside" information, but Obama campaigned on the premise of returning government to the average person, and to make things more equitable. I think you have your facts a bit confused.

3:57PM PDT on Apr 27, 2011

"As I told you on another blog, I get SS and a small pension and I paid over $10,000.00 in income taxes."

Really!?
To pay these kind of taxes requires an income, after all adjustments, of;
Single & MFS - $55,250 or more
Head Household - $60,600
MFJ - $70,550
For a pension & SS I would not consider those small!!

3:38PM PDT on Apr 27, 2011

Just because I never learned to type & often suffer from fat fingers, you want to try & use that to disparage me?

Just what was SO wrong THIS time!?

3:34PM PDT on Apr 27, 2011

I am NOT a teabagger! I am not much of a joiner. In my life I have joined three groups; the choir at the Boy's Club, the United States Air Force, & Civil Air Patrol. That's it nothing else!

If the "rich" pay their "fair share" how is it that their share of the tax paid exceeds their share of income received?

To me that says they are paying more than their "fair share"!

Banks did not fail! They were not allowed to! I think that also was a bad idea!

If I am so unarmed how do I manage so many facts? Seems to me you are afraid!

Original Message:
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Hello,

Lynnette left a comment on the following article:


Obama: "We Have To End the Tax Cuts for the Wealthiest Americans;" 72 Percent Agree
Duncan, The rich do not pay their fair share. They have loopholes put in place by their republican counter thieves. That is why I say a flat tax rate. As for the corporations, BP wants a ten million tax break for "cleaning up the gulf. Why? It was their greed and slipshod methods that caused it. As to the banks, well they failed under your boy Baby Bush. Obama inherited all Baby Bushs failures. Get your head out of your ass and read some real news. At least quit listening to the teabaggers. Yes, the rich do pay more taxes than those that make minimum wage, but they pay a lesser rate and make a whole lot more money.As long as you admit to being a teabagger DO NOT CONTACT ME. I refuse to have a battle of wits with an unarmed "person".

3:20PM PDT on Apr 27, 2011

But I thought the issue was to be "FAIR"?

How is it fair to demand that they surrender more of THEIR money to be GIVEN to others?

7:15AM PDT on Apr 27, 2011

President Barack Obama is a hypocrite. He is not willing to practice what he preaches when it comes to taxes. And in so doing, he is exposing the lack of importance his own agenda really carries — even in his own household.

In the 2008 campaign, then-Senator Obama repeatedly scoffed at the tax rates for the majority of the small business class of our country. He repeatedly chided those in the tax bracket that included the highest number of small business owners. He declared that these folks would need to do “more” and suggested that everybody should, “do their share.”

He also promised that if he were elected president he would increase tax rates for those making over $250,000 per year, that he would force those in that tax bracket to do more, and that it would be the true measure of patriotism for this group of Americans to pay more in taxes.

He spoke in glowing terms about returning the tax rates in his administration to the levels of the Clinton-era, and challenged those earning above $250,000 a year to embrace their responsibility to pay 39% in federal income taxes (not the rate at the time, which was then 35% under President George W. Bush.)

And then we saw his tax return.

In 2010 the Obama household–after every loophole, donation, and tax exempt charitable donation had been deducted –recorded earnings of $1,700,000 and change. To repeat, this wasn’t gross earnings, this was adjusted earnings. This is the amount that

4:30PM PDT on Apr 26, 2011

"A flat tax would cause disproportionate harm to the poor and the middle class with the rich profiting the most from this structure."

But you could not deny that such a tax would have to be called "fair"?

But the tax plan that avoids what you fear in the above statement is the FairTax!

http://www.fairtax.org/site/PageServer

The FairTax:

Enables workers to keep their entire paychecks
Enables retirees to keep their entire pensions
Refunds in advance the tax on purchases of basic necessities
Allows American products to compete fairly
Brings transparency and accountability to tax policy
Ensures Social Security and Medicare funding
Closes all loopholes and brings fairness to taxation
Abolishes the IRS

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Trudy left a comment on the following article:


Obama: "We Have To End the Tax Cuts for the Wealthiest Americans;" 72 Percent Agree

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