The Obama Budget

[SubGod22]

I know the source will turn some off but there are some interesting points made. 10 Things Every American Should Know About President Obama’s Budget

From the AP:

Obama Budget, Jobs Plan Get Early Tests on Hill

Obama's tax and spending plan raises more taxes than it cuts, while still posting a record-breaking $1.56 trillion deficit -- an amount equal to about 42 cents for every dollar the government is spending.

"It's a budget that reflects the serious challenges facing the country," Obama said. "We're at war. Our economy has lost 7 million jobs over the last two years. And our government is deeply in debt."

Obama Budget Seeks $1.1 Trillion in Tax Hikes

I don't understand how he can continue to blame Bush for the debt yet continue to out spend him by leaps and bounds. Somebody please explain that to me.

[ISASO]

From CNN:

http://www.cnn.com/2010/POLITICS/02/01/explainer.budget.winners.losers/index.html?eref=rss_us&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fcnn_us+%28RSS%3A+U.S.%29

[1979Shocker]

The $1 trillion dollars would come from letting the Bush tax cuts expire. If you make less than $200,000 individual or $250,000 couples, you still retain the Bush tax cuts.

But it would also impose nearly $1 trillion in higher taxes on couples making more than $250,000 and individuals making more than $200,000 by not renewing tax cuts enacted under former President George W. Bush. Obama would extend Bush-era tax cuts for families and individuals making less.

[ShockCity]

The $1 trillion dollars would come from letting the Bush tax cuts expire. If you make less than $200,000 individual or $250,000 couples, you still retain the Bush tax cuts.

But it would also impose nearly $1 trillion in higher taxes on couples making more than $250,000 and individuals making more than $200,000 by not renewing tax cuts enacted under former President George W. Bush. Obama would extend Bush-era tax cuts for families and individuals making less.

Bout time we get rid of those "good ole boy" tax cuts Bush gave to his cronies.

[ISASO]

Absolutely! Why not jack their tax rate up to about 90% ? They can afford any tax we throw at them with no ill side-affects.

They're just sitting around in their big, fancy homes that they bought with the money they earned, wasting all the money they earned anyway eating lavish meals and watching their big screen TV's that they bought with the money they earned. And then, they take vacations using the money they earned, where they visit restaurants, stay in hotels and buy things using the money they earned.

With all that spending they do, which doesn't help the economy at all, I bet they don't have time for a job or a business so why are we constantly propping them up?

It's just not fair. I say tax them into poverty and give it to the under-privileged. After all, they have proven how well they handle money.

[RoyalShock]

Absolutely! Why not jack their tax rate up to about 90% ? They can afford any tax we throw at them with no ill side-affects. They're just sitting at home wasting all the money they earn anyway.

ISASO, surely you don't really mean wasting? Like spending it on unnecessary luxuries? Stuff like boats, cars, home furnishings and vacations? Things that require people to administer, manufacture, assemble, account, distribute, sell and provide services?

Let me see, what do they call those things people do to support all that wasting . . . oh yeah . . . JOBS!!!

;)

[WuDrWu]

The $1 trillion dollars would come from letting the Bush tax cuts expire. If you make less than $200,000 individual or $250,000 couples, you still retain the Bush tax cuts.

But it would also impose nearly $1 trillion in higher taxes on couples making more than $250,000 and individuals making more than $200,000 by not renewing tax cuts enacted under former President George W. Bush. Obama would extend Bush-era tax cuts for families and individuals making less.

Bout time we get rid of those "good ole boy" tax cuts Bush gave to his cronies.

Who do you think pay taxes in the first place and creates jobs?


"Bush cronies" is about as stupid a comment as you can make. The people you are griping about pay the LIONS share of all the taxes. They are also the people that are going to create jobs. You can't give tax cuts to someone that doesn't pay any tax.

[ISASO]

Of course I mean "wasting". I got side-tracking while editing my earlier post so I'll regurgitate it here:

They're just sitting around in their big, fancy homes that they bought with the money they earned, wasting all the money they earned anyway eating lavish meals and watching their big screen TV's that they bought with the money they earned. And then, they take vacations using the money they earned, where they visit restaurants, stay in hotels and buy things using the money they earned.

With all that spending they do, which doesn't help the economy at all, I bet they don't have time for a job or a business so why are we constantly propping them up?

It's just not fair. I say tax them into poverty and give it to the under-privileged. After all, they have proven how well they handle money.

[ShockCity]

Awwww, those poor poor poor rich people. Everyone is always picking on them. They have it so rough. What would they do if they had to live on 9 million a year instead of 10 million? Oh, the tragedy of it all... :cry:

[Capitol Shock]

Do us all a favor and go get a job somewhere.

[Capitol Shock]

Preferably not for the government.

[SB Shock]

Two top Tax Brackets - $364 billion cut under Bush Cuts

All Remainining Brackets - $2,560 Billion cut under Bush Cuts (50% of workers don't have to pay taxes)


Obama plan will fail in it plan to raise money.

1. People/companies will adjust to make to minimize their impact. It has been suggested that you will see a move to C-corporations to provide tax shelters.

2. If your facing higher capital gains, you make a change so that your investments are not going to be subjected to capital gains.

3. Continue to punish married, might as well become a one-earner family. Work less. Country productivity will start falling, companies will move work to where people have an incentive to work.

4. Less incentive to invest money - if it is going to be taxed to death then screw it. No growth, no new tax base.

But we all know that Obama real plan is not to balance the budget, but it want's to push this closer and closer to the edge of socialism/communism.

[ISASO]

I think we should all quit our jobs and just sit at home, waiting for the Obama WPA Shuttle to come pick us up each day for our work detail.

[WuDrWu]

Two top Tax Brackets - $364 billion cut under Bush Cuts

All Remainining Brackets - $2,560 Billion cut under Bush Cuts (50% of workers don't have to pay taxes)

Obama's plan will fail in its plan to raise money.

That's what 'City and other liberal think tanks either don't get or don't care because that's not their goal.

Raising taxes isn't going to raise revenue. Raising taxes will cause revenues to fall, period. Raising taxes is about punishing the rich and (attempting) to redistribute wealth. Liberals like to refer to this as "fair", when of course it is anything but fair.

Until we can properly educate the knuckleheads that think like liberals, we will continue down the path of fiscal failure.

[WuDrWu]

What would they do if they had to live on 9 million a year instead of 10 million?

Well for starters, NOT buy cigarettes and Colt .44 for you and your 6 illegitimate children.


Seriously, what is, in your mind, "fair" to keep?