Skip to comments.Obama shifts debt-talk tactics, drops call for end to Bush tax rates
Posted on 06/27/2011 3:21:33 PM PDT by Siena Dreaming
President Obama, seeking a Republican agreement to raise the nation's $14.3 trillion debt ceiling by Aug 2, will not insist that any deal include an end of President Bush's controversial tax rates on the wealthy.
Obama's tactics are coming into clearer focus: they involve seeking higher taxes not on a broad swath of high income earners but on a narrower band of the super rich, such as owners of private jets. This means that those who earn $250,000 have got a reprieve.
(Excerpt) Read more at thehill.com ...
If the article is correct, it may be that oil/gas will be their main target in tonight's negotiations.
which means its still a tax on everyone, just called something else.
I say if the green energy cannot bring their take away all subsidies
Name names. Let Obama confiscate all assets above ten million from the following:
et cetera until every Marxist billionaire in America has given his all to Uncle Sam.
“Obama’s tactics are coming into clearer focus: they involve seeking higher taxes not on a broad swath of high income earners but on a narrower band of the super rich, such as owners of private jets.” So did MaCaskill pay up the taxes owed for the jet she owns part of?
How about a flat 99.8% tax rate on anyone who has given more than $100 to the Democrat party or any Democrat candidate.
no end of Bush tax cuts, i think i just heard some heads explode over in DUmmieland.
Ah yes, get those who work for the super-rich in the unemployment lines.
That’s how to turn this economy round!
A transparent attempt to find a way to give the GOP a fig leaf when they cave.
I can see a token loophole closing if the cuts are real and large. But what I suspect is Obama targets oil companies because 1) they are not individuals, so easier to scapegoat, and 2) anything that tends to raise energy prices is a good thing as far as he is concerned.
Ideally, you’d have a tax structure which would have minimum loopholes. However, once you’ve put them in, investments have been made on that basis, and changing the rules screws up business calculations, and makes business wary of new investments. Also, the loopholes are often a way of selling the original raised tax rates that they avoid, so this is like pulling the football away from Charlie Brown yet another time.
The real issue is not taxes, though, but spending in the sense of how much of the economy runs through government hands. Anyone who has dealt with a city, state, or federal bureaucracy knows that they are not efficient because it isn’t their money they are handling, and there are very few employment consequences to inefficiency. Ergo, a modest government is best.
Any negotiations must be framed around the fact that Obama’s initiatives have taken the Federal government from its traditional level of 18 to 20% of GDP to 25%. At the same time, the states are spending more and more, in part due to Federal mandates. If cutting isn’t the major focus, none of the dancing around the “loophole” edges will make any difference.
my thinking as well-
call it poetic justice as i remember reading this article before the ‘08 election (my work computer does not allow me to open blogs)...
The Rich Support McCain, the Super-Rich Support Obama
Oct 13, 2008 · blogs.wsj.com/wealth/2008/10/13/the-rich-support-mccain-the-super-rich-support-obama
based on the actions of the criminals in this WH towards car dealerships that donated to the GOP in ‘08 and their actions on the pensions of non-union auto workers my guess is they’d prefer that tax rate be assigned to anyone who donated GOP...
I just got a Phone Bill.
FCC Reg Fee on CTV srv = $0.08.
Fed Acs Single Line = $6.50.
Internet Regulatory Fee = $1.47.
County 911 = $1.50.
Federal Tax = $0.22.
Universal Service Fund = $0.97.
State Tax = $0.78.
County Tax = $0.59.
CTV Franchise Tax = $2.60.
A hundred years ago, evil people pulled a gun on you and robbed you of what you had. Today, government takes it in a thousand little bites. F@ck you Obama.
Good plan. A billionare TaxMeMore tax on any billionaire who favors higher taxes. A 1% wealth tax would do, with an exemption form like this:
( ) I support Big Government, I will pay the tax. This will count as a charitable deduction for income tax purposes.
( ) I believe in small Government, I decline to pay the tax
Then raid the Ford Foundation and McArthur Foundation and the other liberal foundations on a likewise basis.
I went over there to watch some fireworks, but so far no sign that this rumor has hit them.
Oh sh!t, dude...you just used the real numbers and exactly like they were on your effing bill, dude!....Now, all NSA gotta do is search and match...you’re screwed - they know who you are!......
Genius Mitch McConnel looks more like the idiot he is for making his Christmas Deal to “Take Tax Hikes off the table” for two years. RINO Morons strike again.
the DUmmies are usually about 4 hrs behind the rest of the world, its because it takes a while for the ostrich to get its head out of the sand and unplug the fingers out of the ears.
NO MORE TAXES, DAMMIT! The federal government already takes in $2 TRILLION a year. That is MORE than enough!
Republicans and especially The Wino RINO Weeper, DO NOT DO IT!!
Don't forget Nancy Pelosi - net worth 26 million
How about Barbara Streisand and Opra Winfrey? They should be on the list!!
I thought they'd all be for it, but was surprised to see that the majority of them look at this ban as "nanny-statism".
One of them actually wondered if he's getting conservative in his old age because he's getting tired of these bans on food, etc. and said it's odd that these kinds of bans are nowadays attached to liberals when he always thought they were associated with the right wing LOL.
“will not insist” You don’t get to “INSIST” on anything, SUCKER. We are holding all the cards.
Universal Service Fund = $0.97.= the Algore internet tax.
IIRC, he was the tiebreaker vote
The more the merrier!
Obama ruins everything he touches.
The Al Gore internet tax what a joke!
One of the reasons I despise the GOP is they won’t talk about the rich democrats in congress. Everytime one of them gets in front of a camera he should mention how much obama “earned” last year and how much Pelosi is worth.
I don’t know why they won’t do this. It would never make it past he editing room on any network but FOX. And I’m not sure about that.
Obama is garbage, but if you seriously think these taxes are of 2008 vintage you are mistaken.
No. I don’t. He will make more like them. They are just examples of the bullshit names and purposes of things to come in larger sizes.
Didn't Carter do this to the luxury boat business when he decided large boats needed an extra tax on them?
IIRC the ones that suffered were the boat builders.
And Nancy Pelosi....her net worth went up 66% in 2010...so she must have some spare cash.
Don’t know if you heard Berney Goldberg on Oreilly tonight but I agree with him. The pubs and all conservatives need to call out the demons for every hypocritical comment they make. Racism, class warfare etc.