Why is Obama hell bent on raising taxes

Why is Obama hell bent on raising taxes

Posted in the Somerset Forum

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Ole Red

Robbins, TN

#1 Dec 3, 2012
He mentions raising taxes every time he speaks. Americans are taxed to deadth. I look for Obama to call for a national sales tax soon.

Level 2

Since: Nov 12

Crossett, AR

#2 Dec 3, 2012
Ole Red wrote:
He mentions raising taxes every time he speaks. Americans are taxed to deadth. I look for Obama to call for a national sales tax soon.
Because we're over $16,000,000,000,000 in debt. Every man, woman and child in this country owes over $50,000 apiece to our creditors. We're going over $1,000,000,000,000 further in debt each year and escalating at an alarming rate. The interest alone on this debt is over $350,000,000,000 just for this year.

Like any household budget in the red the two choices are bring in more money, or save more money. Democrats want to fix the problem with higher taxes, Republicans with lower expenses.

Either option alone or and both together will probably put such an extreme strain on the economy that any gains will be nullified by harshly lower economic activity. Google says our yearly federal budget is 3 trillion. Even if we decide to just maintain our 16 trillion debt we’d have to create/save over 1 trillion.

It’s probably too late to fix the problem. If they do what’s needed it’ll slam the economy now, if they don’t the economy will crash much harder later. Get used to much lower standards of living because they’re coming.

Level 2

Since: Nov 12

Crossett, AR

#3 Dec 3, 2012
Ole Red wrote:
He mentions raising taxes every time he speaks. Americans are taxed to deadth. I look for Obama to call for a national sales tax soon.
I would actually welcome a national sales tax. It would hugely simplify the tax code, it'd be much harder to cheat and it's a far more fair tax that what we're using now. If you're poor you don't spend as much so are taxed less, if you're rich you spend more and are taxed more.

?

“smiling on a cloudy day”

Level 7

Since: Jan 09

Shakedown Street

#4 Dec 3, 2012
Watch it before it goes viral.

"What does $2,000 mean to you?"

http://youtu.be/FbrMHLJI-HA

"Share Your Story: http://OFA.BO/AGsY8R

For more than 19 months, President Obama campaigned on the idea that if we're going to be successful, every American has to do their part and pay their fair share.

A centerpiece of his platform, and the campaign you built, was that income taxes should not go up on the middle class -- that the responsible way to pay down the deficit, while investing in education, job training, research and science, is to ask the wealthiest Americans to pay a little more.

Right now, President Obama is asking you to think about what $2,000 a year means to you and your family."
I SAY YES

Murray, KY

#5 Dec 3, 2012
Ole Red wrote:
He mentions raising taxes every time he speaks. Americans are taxed to deadth. I look for Obama to call for a national sales tax soon.
No he wonts to tax the rich AND I say go for it. After all the rich got rich off the poor man. They wont miss it

“smiling on a cloudy day”

Level 7

Since: Jan 09

Shakedown Street

#6 Dec 4, 2012
Clear Thinker 2oo wrote:
<quoted text>
I would actually welcome a national sales tax. It would hugely simplify the tax code, it'd be much harder to cheat and it's a far more fair tax that what we're using now. If you're poor you don't spend as much so are taxed less, if you're rich you spend more and are taxed more.
?
The exact opposite is true. The poor pay much more and have a much larger tax burden under regressive tax systems such as a sales tax. The rich pay far less.

Howards_Johnson

“Huh Huh It Says Wood”

Level 4

Since: Nov 12

Highland High

#7 Dec 4, 2012
He's only hellbent on raising taxes on those who make more than $250,000 a year. Very few people who post here make that much. In my opinion they already have more than they need.

Personally, my last W2 showed almost $70,000. Which is plenty for a single guy with no children. Obama's plan would cost me an additional $500 a year. If that helps fix the mess this country is in, I can live with a smaller TV!

Quit whining and get over it. Your guy lost. Let's move on and forward.
what

United States

#8 Dec 4, 2012
Bronston Man wrote:
<quoted text>
The exact opposite is true. The poor pay much more and have a much larger tax burden under regressive tax systems such as a sales tax. The rich pay far less.
The Fair Tax plan has a prebate for low income families. There is no logical arguement against the Fair Tax. But hold on to your hats because Obama has already mentioned the idea of adding a VAT on top of federal income tax. That's your government at work for you. Also, did you Obama drones some how miss that this administration handed out billions to banks while letting middle and lower income families lose their homes? I'm not saying repubs are better, just that there is no difference in the dems. You dorks will never admit it though it's clear as crystal. What is your attachment to the dems? Oh yeah, social liberalism.
SMARTY

Somerset, KY

#9 Dec 4, 2012
dum people wll always b dum..............just sayin......tax the rich more dum dums...ill just raise my prices.....lololol all the way to da bank.as i once r twice said...if u dum dum want more..start ur own buisness...oh yes i keep forgettin...u dumm dumms r to lazy to work hard for anythang...its easier to take from hard workin people.

Howards_Johnson

“Huh Huh It Says Wood”

Level 4

Since: Nov 12

Highland High

#10 Dec 4, 2012
SMARTY wrote:
dum people wll always b dum..........just sayin......tax the rich more dum dums...ill just raise my prices.....lololol all the way to da bank.as i once r twice said...if u dum dum want more..start ur own buisness...oh yes i keep forgettin...u dumm dumms r to lazy to work hard for anythang...its easier to take from hard workin people.
Truly the words of a "dumm dumm." Seriously, that looks like a child wrote it.
because

Lexington, KY

#11 Dec 4, 2012
Because they have been in place around 11 years and still no jobs!
SMARTY

Somerset, KY

#12 Dec 4, 2012
Howards_Johnson wrote:
<quoted text>
Truly the words of a "dumm dumm." Seriously, that looks like a child wrote it.
GOT UR ATTENTION,,EH,,WROTE IT SO DUM DUM LIKE URSELF COULD UNDERSTAND.......LOLOLOLOLOL
Clear Thinker 2oo

Crossett, AR

#13 Dec 4, 2012
I SAY YES wrote:
<quoted text>No he wonts to tax the rich AND I say go for it. After all the rich got rich off the poor man. They wont miss it
That's actually untrue. Even if we took every dime that 2% has it'd run the government for about a week, there's just not enough money there to make a difference. If that's a given why penalize the productive to give to the non productive? That's exactly the opposite pressure we need to apply

The real money is in the middle class, there's far more of us there there.
Clear Thinker 2oo

Crossett, AR

#14 Dec 4, 2012
Bronston Man wrote:
<quoted text>
The exact opposite is true. The poor pay much more and have a much larger tax burden under regressive tax systems such as a sales tax. The rich pay far less.
This is counter intuitive. Explain please?

“smiling on a cloudy day”

Level 7

Since: Jan 09

Shakedown Street

#15 Dec 4, 2012
Clear Thinker 2oo wrote:
<quoted text>
This is counter intuitive. Explain please?
It is simple. Rich people and poor people alike spend $5 for a McMeal everyday, for example.$1825/year. Let's pretend there is a 10% sales tax total, so $182.50.

Now the poor person make $15000 a year, so the tax on that meal yearly amounts to 1.2% of their income yearly. That's just on one meal a day.

Now a rich person makes $250K a year. They end up paying 0.07% in tax on that same meal everyday.

A really rich person making $5 million a year? 0.003% tax.

Now how is this fair for poor people? They end up giving over 1 out of every 100 dollars to the government just for buying a meal, whereas a rich man pays a fraction of a fraction of a percent. Even if the rich man doesn't buy McMeals and instead buy $100 steak dinners every year, they still pay far, far less of their income in taxes than the poor guy.

Do some reading on "regressive taxation".

http://en.wikipedia.org/wiki/Regressive_tax

“smiling on a cloudy day”

Level 7

Since: Jan 09

Shakedown Street

#16 Dec 4, 2012
Clear Thinker 2oo wrote:
<quoted text>
That's actually untrue. Even if we took every dime that 2% has it'd run the government for about a week, there's just not enough money there to make a difference. If that's a given why penalize the productive to give to the non productive? That's exactly the opposite pressure we need to apply
The real money is in the middle class, there's far more of us there there.
That's entirely false. Where did you hear such nonsense?

The top 1% in this country controls 42% of the nation's wealth. The next 19% control another 53%. The bottom 80%, 4 out of 5 Americans, control approximately 5% of our nation's wealth.

http://www2.ucsc.edu/whorulesamerica/power/we...
SMARTY

Somerset, KY

#17 Dec 4, 2012
Bronston Man wrote:
<quoted text>
It is simple. Rich people and poor people alike spend $5 for a McMeal everyday, for example.$1825/year. Let's pretend there is a 10% sales tax total, so $182.50.
Now the poor person make $15000 a year, so the tax on that meal yearly amounts to 1.2% of their income yearly. That's just on one meal a day.
Now a rich person makes $250K a year. They end up paying 0.07% in tax on that same meal everyday.
A really rich person making $5 million a year? 0.003% tax.
Now how is this fair for poor people? They end up giving over 1 out of every 100 dollars to the government just for buying a meal, whereas a rich man pays a fraction of a fraction of a percent. Even if the rich man doesn't buy McMeals and instead buy $100 steak dinners every year, they still pay far, far less of their income in taxes than the poor guy.
Do some reading on "regressive taxation".
http://en.wikipedia.org/wiki/Regressive_tax
north korea is looking fer a few good idiots like urself...do ya need help packing ???? in sipler terms u wanna pay 1.00 per mcmeal and i should pay 10,00 u about the stupidous person on topix..no wonder noone pays u any attention..u b clueless
SMARTY

Somerset, KY

#18 Dec 4, 2012
whats u gonna due next bronston man... tax me cause my ole lady pretteir then yours...where do u libs stop....my dog smarter then youre dog?? my dady can whoop ur daddy.....my house aint no trailer..tax me..........gosh i keep forgettin..lazy libs dont wont to work fer nuttttten.....give me give me give.......cause im poor an dum dum
Paul Revere

Somerset, KY

#19 Dec 4, 2012
Gotta make the rich pay, pay, pay!
Why? Because they have it and Obama and the Dems want it. Simple as that.
Actually the whole "tax the rich" thing is nothing but hot air. The added revenue from raising taxes on the rich (everyone above $250,000 according to Obama) won't even make a dent in the national debt. Let me say that again...raising taxes on the rich WON'T CHANGE A THING!
In fact, the govt could take every single penny of income from those making $250k for a whole year and it wouldn't greatly reduce the debt.

Obama isn't serious about cutting the debt. In fact, very few in Washington want to have that conversation. If you REALLY want to reduce the debt, you have to put baseline budgeting under the axe. See, when eaither party talks about "cutting spending", they aren't actually talking about cutting what is spent. They are talking about cutting the AUTOMATIC INCREASES that are built-in to each budget.
Want to know more? Just do a search for "baseline budgeting".

The only way any serious discussion of the debt takes place is if or when the economy collapses. See Europe for examples of that.

“smiling on a cloudy day”

Level 7

Since: Jan 09

Shakedown Street

#20 Dec 4, 2012
SMARTY wrote:
whats u gonna due next bronston man... tax me cause my ole lady pretteir then yours...where do u libs stop....my dog smarter then youre dog?? my dady can whoop ur daddy.....my house aint no trailer..tax me..........gosh i keep forgettin..lazy libs dont wont to work fer nuttttten.....give me give me give.......cause im poor an dum dum
We need to start taxing poor spelling.

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