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Posted on 07/08/2012 10:07:04 AM PDT by Free ThinkerNY
(CNN) — A top adviser for President Barack Obama’s re-election campaign said Sunday the president was entirely dedicated to ending the so-called Bush tax cuts for the wealthy at the end of this year.
“He is 100% committed to it,” Robert Gibbs said on CNN’s “State of the Union.”
Obama signed a bill in 2010 to extend the Bush-era tax cuts, citing the need for economic stimulus at the time, but has since vowed he would not permit another extension.
The tax breaks are set to expire in what’s known as the “fiscal cliff,” a package of spending cuts and removal of tax breaks that will take place on January 1 if Congress fails to act. In total, $7 trillion could be taken out from the economy.
Tax breaks that would end include the Bush tax cuts, middle class protection from the Alternative Minimum Tax, and more than 50 “temporary” tax breaks for individuals and businesses that have been on the books for years.
(Excerpt) Read more at fox8.com ...
Are house trailers taxed?
>> even the old people on this site would never consider turning Social Security into a means-tested welfare program
How exactly would you go about it, keeping in mind that many of us have paid into the fund for our entire lives with the understanding that SS was a *retirement plan* we were funding, not a welfare benefit?
I don’t disagree with your logic, but I am curious if you have thought it through beyond the rant stage.
(Myself, I am planning my late-life finances as though social security did not exist. And, I have adjusted my compensation so I pay as little INTO SS as is legally possible.)
Every smart strategy includes a fallback position. It is also a way to insulate to the wife and kids should the SHTF, and until the dust settles.
“How exactly would you go about it, keeping in mind that many of us have paid into the fund for our entire lives with the understanding that SS was a *retirement plan* we were funding, not a welfare benefit?”
Me included - my kids are finishing college, so I’ve got a few decades in the workforce myself. My point is that there is NO WAY we are ever going to get these people to sacrifice and give up on their myth that there’s a lockbox out there with their name on it...So we just might as well bring our level of taxation up to what we’re spending...it’s either that or a total economic collapse of this country (much worse than Greece) - and that I do not want.
“I don’t disagree with your logic, but I am curious if you have thought it through beyond the rant stage.”
Sorry about the rant - I have to explain this nightmare to my kids. I just prefer to give my kids a still-functioning country, even with twice our level of taxation, rather than a scene out of a Mad-Max movie. They can (and will have to) adjust their lifestyles to keep feeding money to the old people, so they’ll just have to live in smaller houses (or apartments), travel less, eat out less, use less air conditioning, just revert to a simpler lifestyle. They understand the need to pay tribute to these people (after all, they’re outvoted), but it’s just a bit tough on them, because they got to grow up in a totally different country - and maybe that was my fault for spoiling them with an upper middle-class lifestyle - something that will be WAY out of reach for them (due to the debt), even given their excellent college educations.
First of all, I think every American retiree who does not need SS income should not take it. Social Security should be a security net for the unfortunate or stupid.
Second, the govt should stop borrowing 40 cents on every dollar spent TODAY.
Third, lets get this idiot out of the white house.
“First of all, I think every American retiree who does not need SS income should not take it. Social Security should be a security net for the unfortunate or stupid.
Second, the govt should stop borrowing 40 cents on every dollar spent TODAY.
Third, lets get this idiot out of the white house.”
The first will take the second a long way - particularly if you also require their children to help take care of them (if the kids have the means). The third one...we can only hope.
What's your criteria for "need"?
Read here. According to this first hand account of Panama: Crime, raw sewage in the streets, and a government 10X more socialist than Obama.
http://www.topix.com/forum/world/panama/T12S29LMBRUEJ5I96
I’m not debating, just suggesting you look at other opinions.
Now it is time to get conservatives nominated in every remaining primary, and then get Republicans elected to every office nationwide in November.
If we get GOP control of Congress and the White House then it will be time to demand ambitious conservative reform of the federal government.
If the 'Rats win the election in November, then it will be time to go Galt.
That’s good for everyone to know. Now more folks can be 100% for ending Obama’s presidency.
Thank very much.
I’m all in favor of means testing for social security, that should have been that long ago. At some point people will need to accept that social security simply won’t be there anymore, the whole program needs an overhaul, I’m highly skeptical though because even among self-professed conservatives you have a lot of “I hate BIG government-—keep your hands off my social security and medicare sonny.”
Can’t have it both ways, can’t restore fiscal sanity would do necessary modifications to the two biggest outlays the federal government has.
In my county you are taxed at the unimproved land rate which is very low IF YOU KEEP THE WHEELS ON THE TRAILER. The second you permanently fix the trailer by removing the wheels it is considered a dwelling and our rates go straight up.
PEople that have kids and are on Social Security and don’t really need it should pass it on to their kids directly offsetting their tax burden.
You’re making the mistake of thinking the government is sane.
So what will dear leader cry if he does this and things go from bad to worse?
It’ll be amusing to see him grasp for excuses as he systematically eliminates them one by one.
That was your FIRST mistake, accepting that anything coming from the gov’t is benevolent; let alone sustainable.
I’m no Spring chix, but I sure as hell realized early that the scam wasn’t going to benefit myself.
Take the hit, shut it DOWN and get people (and their families) responsible for their own once again.
You don’t break the chain by reducing the diameter of the links!
No, I know anything can happen, and I know that the economy could get so bad that what I do have won’t be enough. I am, however going to try to make it without donating anymore of my life to Obama’s communist dreams.
if Obama is against the Bush tax cuts, then why did he sign a two year renewal of them in 2010, instead of vetoing it?
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