Obama's plan to raise taxes on the upper income folks and corporate taxes therefore this will lead to many folks in the lower classes to loose their jobs and bingo, they won't pay anymore taxes!
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John Adams “The moment the idea is admitted into society that property is not as sacred as the laws of God, and that there is not a force of law and public justice to protect it, anarchy and tyranny commence.”
Ronald Reagan: 'Everybody that is for abortion has already been born'
"I never said I was worth it. I only said I wouldn't do it for less " William F. Buckley Jr.
If my company needs me to make money why would they fire me and possibly make less. We do not employ anyone just for the fun of it.
I don't buy it that corporate taxes will cause job cuts. Cutting on the lower 95% will create money in our pockets and will actually grow the economy. Trickle down doesn't work unless you you are in the Yacht business.
Has any one read Obama's plan for America? I have and in it he clearly say's that he will eliminate the Social Security drop off at $102,000 of income,meaning for those who earn more than that amount they will pay significantly more in taxes on the amount over the $102,000.(appx. 8%) than is a serious hit for those in that income bracket,he has indicated he will mandate that health insurance be provided for all employee's of small business's with 60% of the cost being assumed by the employer.
Ann is right and Obama is naive.You cannot force small business's to incur expenses that they cannot afford to cover,people will be layed off,ther is absolutely no doubt in my mind.
I read a report that contradicts Obama's claim that his plan will not impact small businesses. The independant report stated that in that 5% that will get tax increases3 out of 5 taxpayersare defined as small businesses. That is 60%! Then he would turn around an redistribute that wealth to the other 95% of taxpayers in the form of a tax credit. The issue I have here is that approximately 40% of that crowd doesn't even pay taxes! Why should those people get a tax credit? No wonder why this is can be appealing to some people. Another government handout.
How can Obama possibly say only singles making over $250 k will get hit with higher taxes? He is going to eliminate the SS cap at FAR lower than $250 k, and isn't he going to increase capital gains taxes, which impacts all stockholders, and not just those over $250,000.
As with every single tax policy that has ever been proposed by a candidate it will never be exactly what they say during the election. There is of course a negotiation process with both houses. Either party's proposal is just an outline.
The main point here is why give these tax breaks to the rich already making $1,000,000's and leave out the middle/poor. You want to get this economy started, I don't think you give a Wall Street Exec $700,000 off of his tax bill. You give 700 middle income families $1,000 and they either pay off some debt or spend it on consumer goods that will get this mess going and in the end the CEO will have higher revenues and more income.
If my company needs me to make money why would they fire me and possibly make less. We do not employ anyone just for the fun of it.
I don't buy it that corporate taxes will cause job cuts. Cutting on the lower 95% will create money in our pockets and will actually grow the economy. Trickle down doesn't work unless you you are in the Yacht business.
Anyone who believes Obama is going to deliver on his fable of cutting taxes on 95% of the public . . . I've got some ocean front property in Arizona I would like to sell to you at a discounted price, special deal, for your eyes only.
Look. I don't know why people have a hard time understanding this idea of the coupling between jobs and tax rates. It is pretty simple. I'm a company. I have just earned $10,000,000 -- after costs and taxes are paid. What am I going to do with that money? There is your answer. Do you see it? It is obvious. Let me help you out . . . REINVEST THE MONEY TO EARN MORE MONEY!!! How is that money reinvested? At least partly in ways that create jobs . . . or, now this is tricky, I don't want to lose you andthrow youoff the mental roller coaster here . . . by continuing to sustain jobs that already exist.
Higher taxes on businesses will be coupled to fewer jobs. Real friggin' simple thinking there buddy. Just put your thinking cap on, get out of your working class crusader cape, and ask what companies do with their profits. Raise your taxes high enough, and these businesses that create jobs here will move those jobs offshore and avoid the taxes all together, leaving us to pay for our national infrastructure on our own, without these jobs. I don't think any of us have ever seen THIS happen before have we? DUH!!!
How can Obama possibly say only singles making over $250 k will get hit with higher taxes? He is going to eliminate the SS cap at FAR lower than $250 k, and isn't he going to increase capital gains taxes, which impacts all stockholders, and not just those over $250,000.
DougMD: It turns out that if you look into the details of Obama's SS plan, it exempts those earning less than $250,000 from the cap elimination. I was concerned about this too, just saw this detail last night. I'm not sure how it works for those earning more than $250,000 -- is there a $150,000 income which is excepted from this tax? Or is there a big penalty paid for earning that extra dollar to go from $249,999 to $250,000?
Still, the idea that Obama is going to cut taxes on 95% of the voting public and still do all the spending he plans to do? It doesn't take a fifth grader to figure out that doesn't add up.
I think trusting any democratic presidential candidate who is promising a tax cut is akin to trusting a guy with a grin and a hammer when he tells you to put your thumb on an anvil.
Clinton promised the same thing in 1992, and the cut turned into the biggest increase in history. If Clinton can get away with that, surely Obama thinks he can too. My guess is that he can easily afford to give $1000 to 95% when he knows what he has coming in tax increases will make up for it and more. I think he would put Clinton to shame.
C. Davis
__________________ Am I greedy because I don't want to give you what is mine?
or
Are you greedy because you want to take what is not yours?
Obama's tax relief plan for 95% of Americans
