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White House to Push Repeal of Bush-Era Tax Cuts (looking to pre-empt the debt-ceiling committee)
Newsmax ^ | 08/10/2011 | T.M. Golub

Posted on 08/10/2011 5:53:24 PM PDT by SeekAndFind

The White House is poised to revive efforts to repeal the Bush-era tax cuts, according to the website Humanevents.com.

The website reached the conclusion from comments made by President Barack Obama as well as his press secretary Jay Carney in recent days.

The administration will likely look to pre-empt the debt-ceiling super committee as it crafts the next stage of the debt-reduction package by insisting that those earning over $250,000 a year be more inclined to pay their fair share in taxes, the website says.

Carney cited House Speaker John Boehner’s support of generating $800 billion in revenue when the debt-ceiling talks broke down

(Excerpt) Read more at newsmax.com ...


TOPICS: Business/Economy; Culture/Society; Government; News/Current Events
KEYWORDS: bushtaxcuts; taxes

1 posted on 08/10/2011 5:53:31 PM PDT by SeekAndFind
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To: SeekAndFind

Guaran-damn-teed there will be NO increase in revenue from me.


2 posted on 08/10/2011 5:55:47 PM PDT by griswold3 (Character is Destiny)
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To: SeekAndFind

They automatically go away in 2013. What? Is Obama admitting he thinks he’s not going to be there to fight the extension?


3 posted on 08/10/2011 5:55:47 PM PDT by DManA
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To: Jet Jaguar; NorwegianViking; ExTexasRedhead; HollyB; FromLori; EricTheRed_VocalMinority; ...

The list, ping

Let me know if you would like to be on or off the ping list

http://www.nachumlist.com/


4 posted on 08/10/2011 5:55:47 PM PDT by Nachum (The complete Obama list at www.nachumlist.com)
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To: SeekAndFind
The Bush Tax cuts expiration is not considered new taxes. Let's call it a loophole.

Just remember....you can spend your money much better than the government can spend your money.

You buy good and services.

The government pays off their best buds.

5 posted on 08/10/2011 5:57:38 PM PDT by Sacajaweau
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To: SeekAndFind

Like I’ve said before, I’ll pay Clinton Era tax rates if they will go back to Clinton Era spending.


6 posted on 08/10/2011 6:03:21 PM PDT by comebacknewt ((on second thought, never mind, go away again Newt))
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To: SeekAndFind

Do it you moron.

2012 will be in an even deeper recession.


7 posted on 08/10/2011 6:03:41 PM PDT by DB
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To: griswold3
I will shut down my business and go John Galt. I do not owe anyone anything... and I am prepared.

LLS

8 posted on 08/10/2011 6:05:12 PM PDT by LibLieSlayer (Certified Al Palin Hobbit Terrorist)
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To: SeekAndFind

The Macroeconomic Effects of Tax Changes
By Christina D. Romer and David H. Romer
http://emlab.berkeley.edu/users/dromer/papers/RomerandRomerAERJune2010.pdf

“tax increase of 1% of GDP lowers real GDP by almost 3%”


9 posted on 08/10/2011 6:12:42 PM PDT by Son House (The Economic Boom Heard Around The World => TEA Party 2012)
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To: SeekAndFind

This dingle-dorf JUST signed a two year extension of these rates less than 9 months ago, citing the importance of not raising taxes in a recession. This is the most transparent class-warfare tactic ever on record.


10 posted on 08/10/2011 6:19:06 PM PDT by ilgipper (political rhetoric is no substitute for competence (Thomas Sowell))
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To: SeekAndFind

Should Obummer get the Bush tax cuts eliminated, then he will no longer be able to whine about “the rich” paying their “fair” share. Right?

And our stalwart Republicans will respond by demanding taxes on EVERY wage earner, so that everyone has at least some skin in the game. Right?

I’d better add the “/sarc” tag before somebody takes this seriously.


11 posted on 08/10/2011 6:24:02 PM PDT by DNME (We need new Sons of Liberty and their knack for civil disobedience.)
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To: SeekAndFind

“Carney cited House Speaker John Boehner’s support of generating $800 billion in revenue when the debt-ceiling talks broke down”

Let’s see how much revenue we can generate by cutting the capital gains tax to ZERO!


12 posted on 08/10/2011 6:25:13 PM PDT by Figment ("A communist is someone who reads Marx.An anti-communist is someone who understands Marx" R Reagan)
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To: SeekAndFind
They did not have the guts to do it before the 2010 elections; now they'll do it before 2012? They just want to box in the House Repubs as the blocking vote to “economic recovery.”
13 posted on 08/10/2011 6:27:56 PM PDT by Shqipo (I am the unofficial originator of the Mega-Bump! Only use judiciously.)
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To: Shqipo
I thought the same. I am betting on the populace revoking that tactic. People are already asking; "Free cell phone too!! Are you freaking kidding me?!!" In other words, they KNEW about that "special" class of citizen that is basically a parasite anymore. They tolerated it; but times are rough now. Joe Citizen is cutting way back, but their thinking about those parasites who's standard of living really hasn't been affected that much.
I don't think their buying the Dem's "little guy" line anymore. They know THEY are not that "little guy" the Dem's are speaking to.
14 posted on 08/10/2011 6:36:40 PM PDT by Michael Barnes (Obamaa+ Downgrade)
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To: SeekAndFind

Actually, I would support Obama if he’s serious about repealing the Bush tax cuts, ALL OF THEM. Three things would then happen:

1) Millions, if not tens of millions more people in the Middle Class will FINALLY start to pay some taxes. These cuts gave them a free ride, allowing them to have no concern about the future of the country.

2) The entire country would learn, FOR ONCE, that the Bush tax cuts were not just “for the rich”, but affected everyone who paid taxes.

3) The tax rate increases on the middle class WOULD actually raise revenue (unlike rate increases on the rich...which they avoid by moving abroad, working less, or finding loopholes). And it would raise a lot of revenue...maybe even enough to keep our welfare programs (like Social Security and Medicare) going...as it’s more than OBVIOUS that the vast majority of this country (even on this website) are not about to let them get reformed and fixed.


15 posted on 08/10/2011 6:37:45 PM PDT by BobL (PLEASE READ: http://www.freerepublic.com/focus/f-news/2657811/posts)
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To: SeekAndFind

Time to stop being nice to all the fascists and commies infesting the IRS.

I’d bet a dollar that not one out of hundred IRS goons could hit the side of a barn with buckshot at 10 yards. We give too much power to government wimps. Time to end this crap and take on the obuma wimp “army.”


16 posted on 08/10/2011 6:40:38 PM PDT by sergeantdave
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To: SeekAndFind
The White House is poised to revive efforts to repeal the Bush-era tax cuts...

Oh, yeah! Repeal the Bush tax cuts! Wait a minute! Didn't Obama sign into law the continuation of the cuts through 2012? Repeal it? That'll happen once it gets past the House! /s

17 posted on 08/10/2011 6:43:36 PM PDT by Bushbacker1 (I miss President Bush greatly! Palin in 2012! 2012 - The End Of An Error! (Oathkeeper))
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To: SeekAndFind
Wow.

Great timing. See if the market can dip below 10K tomorrow!

18 posted on 08/10/2011 6:48:56 PM PDT by redgolum ("God is dead" -- Nietzsche. "Nietzsche is dead" -- God.)
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To: SeekAndFind

Fair share? The top 1% earn 20% of all income in America but they pay 40% of all federal income taxes.

Their fair share would be a tax cut of 50%.

Obama and his team are all full of BS.


19 posted on 08/10/2011 6:54:38 PM PDT by july4thfreedomfoundation (Obama inherited a mild recession from George W. Bush and turned it into a major depression.)
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To: SeekAndFind

This was posted back in early 2009 by someone and is worth posting again:

Obama’s Mythical 250K Bogeyman

http://blog.politicalcastaway.com/2009/02/27/obamas-mythical-250k-bogeyman.aspx?ref=rss

 

Among the national lies Mr. Obama continues to spin as part of his socialist agenda, the concept of the $250,000 “rich” families is among the greatest of insults to hard working Americans and further evidence of just how out of touch the man is with reality. 

Does Mr. Obama have any clue as to how much life costs these days?  A lot.  And contrary to populist myth, those making $250,000 are saddled just like everyone else. 

What does Mr. Obama think makes possible that sort of combined income?  For most, it takes education—a lot of it.  And that costs.  Every month, many couples who earn “hefty” incomes are paying for the same in reams of educational debt.  But the “rich” can handle that.   

And forget about children.  Does Mr. Obama have any idea the commitment it takes to earn over $250,000?  For most, it takes time—a lot of it.   Twelve hour days are not unheard of—each.  Weekends too.  And that means time away from family.  It means time away from community and church and PTA and soccer games and maybe a little time to actually be a parent and make a home-cooked meal once in a while, let alone try to catch up on some much needed rest.  But the “rich” can deal with that as well.

Moreover, it means even greater outlays for families: childcare, pet sitters, mechanics, handymen, and a whole host of other people to pay to do the things that they have no time to do for themselves—although they would probably love to have time to do.  And that costs too, Mr. Redistribution.   But the “rich” can just suck it up.

And health care costs.  Children get sick at school and need to go to the doctor’s office.  And that costs—no matter how good the insurance coverage.  And do people really have a clue as to what attitude employers in “highly-compensated” work settings think about this needed time to tend to children?  Let’s just say, it’s not exactly understanding, especially when these same employers require long hours and dedicated effort to pay for those “large” compensation packages.  And that adds to the stress.  But the “rich” can stomach that.

And of course, there is housing.  But for those without book royalties and speaking fees or crooked friends to broker questionable and favorable land deals, two beds and a bath are all that most making $250,000 can responsibly afford near a major metropolitan area where the “inflated” salaries are paid.   The days of the suburban dream are dead for everyone, Mr. Out-Of-Touch.  And that means tough living and no space and little room to breath after a 12 hour work day.  But the “rich” can saddle that, too.

Life is not easy for anyone in America these days—Mr. Obama’s “rich” included.  But, after all the tax dollars taken already, time lost, debts incurred, communities affected, service jobs created, and child rearing compromised, Mr. Obama now sees it fit to add some more to the emotional and financial pile on.

So, Mr. Obama has his American scapegoat—the $250,000 bogeyman—who now, with his leftist comrades, the man can feel politically justified to bleed some more.  But after all, who cares?  They’re ”rich.”         


20 posted on 08/10/2011 6:59:24 PM PDT by PMAS
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To: LibLieSlayer

If you ran a business during the Bush tax cut era, then you know that although Federal Income tax rates were favorable, the ‘state’ did not lose any revenue.
No one talks about the increase of fees and permits, like the CAT (Commercial Activity Tax) and a UCF (Universal Carrier Fee) that other departments added.
Ezra Klein claimed that the Bush tax cuts ‘for the rich’ cost the government $1.8T. I call BS


21 posted on 08/10/2011 7:02:29 PM PDT by griswold3 (Character is Destiny)
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To: LibLieSlayer

If you ran a business during the Bush tax cut era, then you know that although Federal Income tax rates were favorable, the ‘state’ did not lose any revenue.
No one talks about the increase of fees and permits, like the CAT (Commercial Activity Tax) and a UCF (Universal Carrier Fee) that other departments added.
Ezra Klein claimed that the Bush tax cuts ‘for the rich’ cost the government $1.8T. I call BS.
Hauser’s Law proves the Federal Government collects no more than 20% GDP. We don’t want to be breaking the law, now do we?


22 posted on 08/10/2011 7:04:50 PM PDT by griswold3 (Character is Destiny)
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To: griswold3

I have been in business since 1973 and I have been at it at my present business for 38 years. I have NEVER seen things as bad as they are now. Hell... the carter years were boom times when compared to these... and those were awful years!

LLS


23 posted on 08/10/2011 7:32:59 PM PDT by LibLieSlayer (Certified Al Palin Hobbit Terrorist)
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To: DManA

So he wants to repeal the bill that he and the lame duck Democratic Congress passed last December. This guy has a really short memory.


24 posted on 08/10/2011 8:10:20 PM PDT by USNBandit (sarcasm engaged at all times)
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