He toook the bait now we just reel him in.
Uh-huh. We'll see. This administration has a history of saying one thing and doing the opposite when they think that no one is looking!!
NEVER raise taxes in an election year. Any professional politician knows that. Obama is just a big-eared skinny little mooselimb Kenyan kid that had major support from others to get him elected. As President, though, he can sink his own boat and there is nothing his backers can do about it.
By allowing the 2003 tax cuts to retire, President “Present” will be increasing the bottom rate from 10% to 15% and the 20% bracket to 25%.
Raising the 10% bracket to 15% represents what percentage of increase? Hint: The correct answer is NOT 5%.
Raising the 20% bracket to 25% represents what percentage of increase? Hint: The correct answer, again, is NOT 5%.
Finally, raising the 35% bracket to 39% represents what percentage of increase: Hint: The correct answer is NOT 4%.
Extra credit question: People in which tax bracket will see the largest percentage of increase in their taxes?
Extra extra credit question: People in which tax bracket will see the smallest percentage of increase in their taxes?
To those moving from the 35% to the 39% tax bracket...that’s roughly an 11% increase in taxes.
From 20% to 25%...that’s a full-blown 25% increase in taxes.
To those moving from the 10% bracket to 15%, their taxes will be increased by a whopping 50%.
So the low-income people get their taxes raised even more when seen as a percentage. And the rich folks lose a higher magnitude of money,but the percentage compared to what they already make is lower.
What a bafoon!
You gotta wonder if Obama is really serious about running for reelection. He’s giving Romney so many gift wrapped presents in the form of his behavior, demeanor and lack of work ethic. Romney needs only show is birth certificate, college records, success in business, the Olympics and as governor. Obama is so much out of his league. Now, stepping back, one has to remember that there are a lot of ignorant, closed minded people who would vote for Obama even if Obama didn’t care one iota about them... which, by the way, he does not care about anybody period!
Stuck on stupid and doubled down!
Interesting, is it not, that the first (second) Black President engages in rampant discrimination?
Well, Jay, that depends on what you mean by that question. Are you asking whether the things you say could be said more clearly or are you asking whether you are capable of being more clear? Could you clarify that for us?
Good.....Keep it up Preezy....Keep digging that grave.....
Obama just conceded the election to Romney.
Don’t think the Democrat party machinery isn’t aware of that, either. Now watch support for his re-election really tank. He’s gone, folks.
So ‘automatic’ tax increases are coming. Great.
I wonder if anyone is going to lift a finger to ‘fix’ the AMT also.
It expires at the end of this year and without a new ‘patch’ families making around $150K will get hit ‘automatically’.
And lets not forget the failure of the ‘super committee’ and the associated ‘automatic’ cuts and mayhem that will create.
We need to be wary when congress uses words like ‘automatic’ or ‘expiring’.
Meanwhile, back on the streets of what we used to call America . . .