Obama's new tax proposal

[Seymour]

Holy fucken moly this guy - he already raised capital gains to 20% and now he is going for 28% - for me personally this would increase my taxes 100% - literally, if i paid 125K it would not be 250K - what are the chances of this happening with a Republican Congress? please tell me zero - I just want his run over - at this point Hillary would a God send

 

[Dave007inVegas]

Holy fucken moly this guy - he already raised capital gains to 20% and now he is going for 28% - for me personally this would increase my taxes 100% - literally, if i paid 125K it would not be 250K - what are the chances of this happening with a Republican Congress? please tell me zero - I just want his run over - at this point Hillary would a God send

Sure. Let's go with that.

 

[Acebb]

I love how his tax proposal was described as "raising taxes on the wealthy to help the middle class" as if there is any correlation there.

 

[Seymour]

Dave, I can't tell if ur being facetious - are u saying his wishes cannot happen under the current Congress?

 

[Seymour]

Just did some quick reading - taxes aren't going up with the Congressional makeup

 

[Dave007inVegas]

Dave, I can't tell if ur being facetious - are u saying his wishes cannot happen under the current Congress?

Sey, just because the GOP has control of Congress doesn’t mean that they’ll do the right thing. I’ve already read where they might not fight Obama on immigration because they think it will hurt them in 16.

Boehner has capitulated many, many times with control of the House. Having control of both Houses should make it a slam dunk but stranger things have happened.

Both Boehner and McConnell talk the talk but will they walk the walk.

Call me a pessimist but I don’t have faith in them. They have to exhibit that they have a set before I’ll believe them.

 

[SheriffJoe]

Obama isn't interested in increasing government revenue, he is interested in punishment and income redistribution under the guise of "fairness".

Why do people buy this ideological bullshit???

:neenee:

 

[PatsFan1283]

Holy fucken moly this guy - he already raised capital gains to 20% and now he is going for 28% - for me personally this would increase my taxes 100% - literally, if i paid 125K it would not be 250K - what are the chances of this happening with a Republican Congress? please tell me zero - I just want his run over - at this point Hillary would a God send

How is that possible? Capital gains are taxed at the margins just like income and it doesn't kick in until 500k.

Also if you think thats bad checkout the inheritance tax on property. Make sure you are sitting down.

 

[PatsFan1283]

nevermind i read it wrong

 

[MantisToboggan]

How is that possible? Capital gains are taxed at the margins just like income and it doesn't kick in until 500k.

Also if you think thats bad checkout the inheritance tax on property. Make sure you are sitting down.

Someone has to fix the "manifest unfairness in our tax system".

 

[MantisToboggan]

How is that possible? Capital gains are taxed at the margins just like income and it doesn't kick in until 500k.

Also if you think thats bad checkout the inheritance tax on property. Make sure you are sitting down.

This could be massive as we see the baby boomers start to die off and there is an incredibly large transfer of wealth through inheritance.

 

[Acebb]

[h=1]Obama has proposed tax hikes in every State of the Union[/h]
Proposed tax hikes on capital gains and banks will be included in President Obama’s State of the Union address Tuesday, according to a White House announcement Saturday. The announcement continues Obama’s tradition of proposing tax hikes in his six previous State of the Union addresses dating back to 2009. Here’s a list detailing Obama’s proposed tax hikes:

http://www.washingtonexaminer.com/obama-has-proposed-tax-hikes-in-every-state-of-the-union/article/2558879

 

[SheriffJoe]

but, but, but...

akphi-idiot says the government can print unlimited amounts of money, so why bother with taxes at all????

:think2:

 

[MantisToboggan]

but, but, but...

akphi-idiot says the government can print unlimited amounts of money, so why bother with taxes at all????

:think2:

This isn't about money supply, it's about redistribution.

 

[Acebb]

Note that Obama's tax plan calls for taxing 529 college savings plans.

Oh, and here is Gruber arguing that universal insurance has to be paid for by taxing the middle class

http://www.nejm.org/doi/full/10.1056/NEJMp0904855