Skip to comments.Obama says tax hike on rich should be part of fiscal deal (OK! Bush Tax cuts expire in January)
Posted on 11/09/2012 12:42:16 PM PST by tobyhill
Newly re-elected President Barack Obama offered on Friday to deal with Republicans to avert a looming U.S. fiscal calamity but insisted a tax increase for the very rich must be part of the bargain.
Obama reminded Republicans that his approach to avoiding steep tax hikes and spending cuts due in January, which could trigger another recession, had just won the backing of Americans at the polls.
He spoke just hours after John Boehner, the Republican Speaker of the House of Representatives, had repeated his party's commitment not to raise anyone's tax rates as part of a deal to address the fiscal crisis.
In his first event at the White House since beating Republican Mitt Romney in Tuesday's election, Obama called on Congress to work with him to produce a plan and invited congressional leaders to meet with him next week.
"I'm not wedded to every detail of my plan. I'm open to compromise. I'm open to new ideas," he said.
(Excerpt) Read more at reuters.com ...
I say either new taxes for and raised taxes on EVERYONE should be on the table. Spread the Pain. Obama says it is the cure, then let us see if he is correct (pssst, I know we know it is not but the rubes who voted for this guy don’t). I say again, Spread the Pain.
If the Republicans in Congress do ANYTHING, they are stupid...
Its painfully obvious that the House is being set up to take the fall when the tax cuts expire in January. The Kenyan Kommie has all the cards.
The biggest tax increase in American History starts on Jan 1.
And they’re already screaming it’s not enough. :(
Think about that while you’re job hunting....
Unfortunately, “everyone” can mean no more than only those who pay federal payroll taxes. And I’m pretty sure most of them didn’t vote for the Won.
I think the best option here for the public to demand open hearings/meetings. We should all know what exactly is being discussed and who said what. The idea of some type of compromise isn’t worth discussing if the nation falls apart in six months from the compromise.
The “rich” is now anyone who has a job or receives social security, since it is taxable.
Still, the GOP should demand open hearings on our behalf, if for no other reason than appearances.
When the rich leave, which they will, who’s gonna pay? Why the “middleclass” will and soon when we are sucked dry we will enter into the entitlement class where all is wonderful and we are all equal but there will be no money left for us, this is when the people rise up to the man, the tyrannical government cracks down and we all live happly ever after. I like nice endings dont you? The problem is the feds took over the education system and eliminated our American historical heritage. history is about to repeat itself....again
America wants to schwack the rich..OK. Let`s not defy this week`s will of the people. Give Obama every single tax hike he wants ... as for the consequences.. let the chips fall where they may. Then put it all in the voters` faces every day. Enough fighting .. let them experience the downfall first-hand.
we know the rat-media will blame us for 1. the negotiations and 2. any result to the economy that is bad. Doesn’t matter what we do. Frankly, since it doesn’t matter, and it is the House and we have it firmly under control, we should put our principles on the table, understand we will be demonized and accept it, and let the government be shut-down until we get our way. No debt limit increase, nothing.
Don’t care if it takes 2 years. If that doesn’t fire up the base for 2014, well, we were done anyway as a country.
Exactly. Step aside and let Obama have at it. Then get the popcorn.
The Dims have been saying for years the Bush tax cuts only benefitted the rich. I say let them expire because then only the rich will have their taxes go up. It is a win-win situation for the Dims, THEY THINK. Wait until the average Joe gets an increase in his taxes. Remember they were not reduced by the Bush tax cuts because they are not rich.
“Unfortunately, everyone can mean no more than only those who pay federal payroll taxes. And Im pretty sure most of them didnt vote for the Won.”
You’d be shocked. Not to mention the 10,000,000 or so people that find out that the loss of the Buuuuuuuuuush Tax Cuts just put them back on the tax roles.
Make him/them own the consequences of tax hikes and entitlement spending explosions.
Just get out of the way of Obama...he’ll do more to discredit progressivism in the next 4 years than the battles we waged the last 100.
Let every Bush-era tax cut expire. Americans need a hard jolt in the ass to see we were right all along.
They demanded socialism on Tuesday, so enough BS. Give it to them and make them eat the resultant crap sandwich. Don`t protect them anymore and make them feel the pain they signed up for by reelecting 0bama.
Time for hard lessons to be learned.
Obamaville is gonna make Hooverville look like just a bump in the road...
Americans only need to look at the Argentines protesting against the socialist Kirchner after 5 years of “tax the rich”...
‘Hundreds of thousands protest against Argentina’s Cristina Kirchner’
Hundreds of thousands of protesters flooded the streets of Buenos Aires on Thursday night in one of the largest anti-government marches of President Cristina Kirchner’s five-year rule.
"I'd Love to Change the World" - Very prophetic song by 'Ten Years After'
The full list of marginal rate hikes is below:
-The 10% bracket rises to a new and expanded 15%
-The 25% bracket rises to 28%
-The 28% bracket rises to 31%
-The 33% bracket rises to 36%
-The 35% bracket rises to 39.6%
By allowing the 2003 Bush tax cuts to retire, taxes 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%)
To those moving from the 10% bracket to 15%, their taxes will be increased by 50%!!
Raising the 20% bracket to 25% represents what percentage of increase? (Hint: The correct answer, again, is NOT 5%)its s a full-blown 25% increase in taxes
Finally, raising the 35% bracket to 39% represents what percentage of increase: (Hint: The correct answer is NOT 4%)thats roughly an 11% increase in taxes.
No, you are being too cynical. Obama faces the 6-yr itch in 2014 and it’s evident that his people do not turn out for midterms. They are wedded to him (idiots), not overwhelmingly to the Dem Party.
The GOP should give anything to Obama and Reid that harms the economy as long as the GOP is inocculated from blame. Screw the GOP governors if they balk; they didn’t deliver in the swing states anyway.
Why is the GOP so stupidly wedded to one small percent of the economy - half of whom vote Democratic anyway?
Why do we carry water for people who deliver nothing politically? Let the S chapter businesses become C corporations. Costs more? Too bad, fire a couple of people. Win-win.
Raise everyone’s taxes. Pull the class warfare rug right out from under the Dems and the MSM. Give Bam-Bam whatever he wants and watch the economy tank.
Exactly. It wasnt just Obama. Several extreme leftwingers were elected to the senate as well (Liawatha, Baldwin).
So the people seem to want socialism. They should be obliged. Good and hard.
Yep... just shot an email off to Rep Rob Wittman`s (VA-1) office demanding all the Bush-era tax cuts be allowed to sunset. No more selective targeting... EVERYBODY can pay this time and feel the pain.
I despise Obama, but he`s right... the majority of voters support his agenda. Now, for the first time, they need to taste it.
A lot of them sat on their sorry asses at home when they should`ve been voting for freedom. This will most assuredly focus their minds.
Skeeter, I did say “new taxes”
Well, they’ll fix that—didn’t they just lower the voting age to 16?