A simple illustration that Obama's tax plan will put the burden on the middle class.

[ladiesbballcoach]

Coming from a board who loves GWB and for many who voted twice for him. Do you think this recession will be over by 2010?

 

You are 1/2 right. Many voted for him twice. Many of those same people are furious with the way he handled many of the decisions under his watch from the increased spending and the bailout. Many on this board have called him out for the way him and the Republican Congress mishandled their term in office.

[ladiesbballcoach]

I make under 250k my taxes will not go up. Those who make over 250, after you hit 250 form there your taxes go up a breath taking 3% back where it was when Clinton was in office and we were the super power of the universe.

 

ABSOLUTLEY 100% your taxes WILL GO UP, if Obama lets the Bush tax cuts go by without kicking them in for another term.

 

You are not listening to what O is saying. He is saying HE won't increase your taxes but when he lets Bush's tax cuts go by with no renewal, YOUR taxes WILL GO UP. So, he would not be raising taxes but your taxes would be going up. McCain tried to make this point in one of the debates but it did not catch on.

 

If I am incorrect, I hope one of the accountants/lawyers on here will correct me.

 

But I KNOW that as a public school teacher (so I make WAY BELOW $250,000) I received a tax cut when Bush put his tax plan into effect. The Dems have been trying to get that tax cut gone. They succeed and I expect my taxes to go up.

[ladiesbballcoach]

I make under 250k my taxes will not go up. Those who make over 250, after you hit 250 from there your taxes go up a breath taking 3% back where it was when Clinton was in office and when we were the super power of the universe. Again the Bluegrass historic low unemployment rate was during the Clinton admin, the same ideas Obama is trying to implement.

 

I don't get how you all want 4 more years to continue to give the richest people in America tax breaks but not the ones who need it. Its a fact, Kerry said it to Bush and he stood quiet on stage, Obama said it to McCain and had no reply.

 

You might want to check your candidates changing position. IN another thread I pointed out that he ran an ad on 10/25 that had changed that number to $200,000.

 

10/27, Biden was in an interview and said that taxes would not go up on anyone making under $150,000.

 

So, in the last week, that number seems to be changing.

[Run To State]

No offense, you know your stuff, but I dismiss almost anything from GWB supporters, he will go down as the worst president of all time and for good reason. We will be lucky if this recession ends by 2010. But we continue to feed out what 10-12 billion a month in Iraq, who said they want oil at 100 bucks a barrel and are setting up deals to ship there oil to China.

None taken. I disagree about Bush going down as the worst president of all time. Carter will be really tough to dethrone for that "honor", but I could see Obama doing just that in a mere 4 years.

[Hoot Gibson]

None taken. I disagree about Bush going down as the worst president of all time. Carter will be really tough to dethrone for that "honor", but I could see Obama doing just that in a mere 4 years.

I agree. Unlike Obama, I never got the feeling that Jimmy Carter disrespected our Constitution - until he began engaging in freelance foreign policy as a former POTUS. I get the feeling that Obama would love to be able to edit the US Constitution through executive orders if he could get away with it.

[IM4THEHOUNDS]

All Obama wants to do is go back to the Clinton days. When our economy was full throttle and KY had its lowest unemployment rate in history. The rich will have to pay a what 3% tax increase?

 

If you truly think that is the case you must be hitting the Kool-Aid again!

[75center]

I make under 250k my taxes will not go up. Those who make over 250, after you hit 250 from there your taxes go up a breath taking 3% back where it was when Clinton was in office and when we were the super power of the universe. Again the Bluegrass historic low unemployment rate was during the Clinton admin, the same ideas Obama is trying to implement.

 

I don't get how you all want 4 more years to continue to give the richest people in America tax breaks but not the ones who need it. Its a fact, Kerry said it to Bush and he stood quiet on stage, Obama said it to McCain and had no reply.

 

Your posts show a real lack of understanding of cause and effect regarding the economy, taxes and presidential power.

[All Tell]

I make under 250k my taxes will not go up. Those who make over 250, after you hit 250 from there your taxes go up a breath taking 3% back where it was when Clinton was in office and when we were the super power of the universe. Again the Bluegrass historic low unemployment rate was during the Clinton admin, the same ideas Obama is trying to implement.

 

I don't get how you all want 4 more years to continue to give the richest people in America tax breaks but not the ones who need it. Its a fact, Kerry said it to Bush and he stood quiet on stage, Obama said it to McCain and had no reply.

 

The "magic wealth number" has dropped to $150,000.

 

How long before it's below $100,000?

 

As much as Obama has changed on issues how can you or anyone really believe his 95% tripe?

[HHSDad]

The "magic wealth number" has dropped to $150,000.

 

How long before it's below $100,000?

 

As much as Obama has changed on issues how can you or anyone really believe his 95% tripe?

It depends on who you listen to. Obama has lowered the number to $200,000 while Biden lowered it to $150,000.

 

And I don't know how you cut taxes for 95% of the people when only 68% of those who even file tax returns actually pay any income tax.

[bballfamily]

:thumb: The answer is to create a system that is fair. IMO, that is a situation with a Flat Tax with less deductions and loopholes. And the way to do that is to abolish the IRS.

 

I too have believed this to be the best answer.

Why do people hate corporations? No big business and your life style goes back to the early 1800'. Yes there are bad apples everywhere, but you have choices. You may buy from Company M instead of Company O, you have choices. And if both are too high just do not buy at all. There are many items you can do without until the price comes down.

[Fastbreak]

I make under 250k my taxes will not go up. Those who make over 250, after you hit 250 from there your taxes go up a breath taking 3% back where it was when Clinton was in office and when we were the super power of the universe. Again the Bluegrass historic low unemployment rate was during the Clinton admin, the same ideas Obama is trying to implement.

I don't get how you all want 4 more years to continue to give the richest people in America tax breaks but not the ones who need it. Its a fact, Kerry said it to Bush and he stood quiet on stage, Obama said it to McCain and had no reply.

So forcing less than 2% of the total U.S. population, currently earning over $250,000 annually (roughly 24.1 percent of all income and paying 43.6 percent of all personal federal income taxes) to pay nearly 50% of all federal income taxes is fair to you?

I've heard Obama on numerous occasions speak about the apparent injustice of "giving" more money to the rich. How in anyone's lexicon does allowing the people earning the money to keep evena small percentage of money they earned in the first place qualify as "giving" them anything?

Obama, and the mindset of those who support his offensive tax plan are a slap in the face to those working hard to achieve any degree of success.

[MountainThunder]

No offense, you know your stuff, but I dismiss almost anything from GWB supporters, he will go down as the worst president of all time and for good reason. We will be lucky if this recession ends by 2010. But we continue to feed out what 10-12 billion a month in Iraq, who said they want oil at 100 bucks a barrel and are setting up deals to ship there oil to China.

 

You must not have read about Hoover or lived thru the Carter years. Try paying 21% interest on your home mortgage.

 

I don't dismiss anyone's ideas as long as they back them up with facts. Let me ask a question here, ... I am not a Dubya fan, but what specific domestic policies did he pass or sign that have us in this mess? The legislative branch of our government is controlled by the Democrats and their approval rating is the worst in US history. Did they not have a part in this when they shot down the legislation to slow down the subprime mess we are in right now?

 

The one thing I agree with Obama on is that Iraq needs to start paying for the US effort in their country. That would encourage them to take the measures to take control so the US can pull out.

[MountainThunder]

So forcing less than 2% of the total U.S. population, currently earning over $250,000 annually (roughly 24.1 percent of all income and paying 43.6 percent of all personal federal income taxes) to pay nearly 50% of all federal income taxes is fair to you?

I've heard Obama on numerous occasions speak about the apparent injustice of "giving" more money to the rich. How in anyone's lexicon does allowing the people earning the money to keep evena small percentage of money they earned in the first place qualify as "giving" them anything?

Obama, and the mindset of those who support his offensive tax plan are a slap in the face to those working hard to achieve any degree of success.

 

When you believe that the money does not belong to anyone but the government, then you have those beliefs. Nice post! :thumb:

[leatherneck]

I make under 250k my taxes will not go up. Those who make over 250, after you hit 250 from there your taxes go up a breath taking 3% back where it was when Clinton was in office and when we were the super power of the universe. Again the Bluegrass historic low unemployment rate was during the Clinton admin, the same ideas Obama is trying to implement.

 

I don't get how you all want 4 more years to continue to give the richest people in America tax breaks but not the ones who need it. Its a fact, Kerry said it to Bush and he stood quiet on stage, Obama said it to McCain and had no reply.

 

JA, my problem with a tax increase on the rich to help out the ones who "need it" is a philosophical one, one which wouldn't change in the course of 4 years or ever. Your concept of increasing tax rates on the rich to help the poor just is wrong to me. Surely you wouldn't agree with robbing at gunpoint from the rich to take money go give to the starving would you? That's all Obama is proposing but wants to legitimize the forced taking of wealth in the form of legislation instead of gunpoint. I have no problem with people asserting that the rich should have a moral obligation to help the poor; I just totally disagree with the concept of the wealthy being legally forced to do so.

 

On a related note, every time I hear some wealthy entertainer or business person, who has significantly more wealth than I do, get on TV and state that taxes need to be increased on the wealthy to help the poor, my blood boils. When they have diminished their net worth to lower than my level as a result of the distribution of their wealth to help the needy, then they can lecture me on why I need to do more or pay more taxes. But until then, they have no business telling me I need to be more concerned about the poor and should be forced to pay more income taxes to do so. How dare Obama want to forcibly take my hard earned income to give to the poor, when he owns a home worth 100s of thousands of dollars. If he believes genuinely in the need to help the poor, why hasn't he sold that home and donated the proceeds to the poor? How dare he take money from people less well off than he is to give to the poor. Surely he could get by in a much more modest home. Many of us do. Once he gets his net worth and life style lower than mine as a result of giving his wealth to the poor, then he can lecture me on how I need to give more in the form of donations or income taxes to help the poor. Until then, he and anyone else that wants to raise my income tax rates to help the poor are just Robin Hoods using the law instead of a gun to forcibly take my money. No make them worse than Robin Hoods. At least Robin Hood didn't have any wealth himself. Think about how the myth of Robin Hood would have been written differently if he was worth millions, which he kept for himself, as he robbed the rich to give to the poor. I'm afraid that myth is going to be written, but it will be called the myth of President Obama.