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Obama says tax hike will have to come first in "fiscal cliff" deal
reuters ^ | 11/14/2012 | Andy Sullivan

Posted on 11/14/2012 2:37:15 PM PST by tobyhill

President Barack Obama said on Wednesday that Republicans would have to agree to raise taxes on the wealthy as the first step in a budget deal that would prevent a dysfunctional Washington from pushing the economy into recession.

In his first news conference since winning re-election last week, Obama said he would be open to considering Republican priorities like entitlement reform and a tax-code overhaul as part of a broad-based deal to get the nation's finances on a sustainable course.

But Obama said Republicans in Congress would first have to agree to his top priority in the complex negotiations aimed at preventing a $600 billion combination of tax increases and spending cuts known as the "fiscal cliff" that could halt the weak economic recovery at the beginning of next year.

"What I'm not going to do is to extend further a tax cut for folks who don't need it," Obama said, shortly before meeting with a dozen business leaders who are pushing policymakers to reach a deal.

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


TOPICS: Extended News; News/Current Events
KEYWORDS:
OK! Since the article claims that the GOP will take the blame no matter what they do, the best move they should make is nothing and let the Bush Tax Cuts expire for ALL.
1 posted on 11/14/2012 2:37:19 PM PST by tobyhill
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To: tobyhill

They “don’t need” money to hire people?

What a dufus.


2 posted on 11/14/2012 2:39:36 PM PST by LowTaxesEqualsProsperity
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To: tobyhill

Make it 500k and pass the deal.


3 posted on 11/14/2012 2:41:40 PM PST by TheRhinelander
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To: TheRhinelander

We don’t need democrats posting on FR. Raise your own dang taxes doofus!


4 posted on 11/14/2012 2:46:22 PM PST by broken_arrow1 (I regret that I have but one life to give for my country - Nathan Hale "Patriot")
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To: tobyhill

The RINO’s just got their orders from the Dictator.

Will they fold??????

Does Pinochio have a wooden penis?


5 posted on 11/14/2012 2:46:22 PM PST by Venturer
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To: tobyhill

Tell obama he should come to the house and attend discussions. If obama insists on preconditions then counter with preconditions that there are NO tax increases period.


6 posted on 11/14/2012 2:47:04 PM PST by plain talk
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To: tobyhill

Its Lucy, Charlie Brown and the football dodge again. Not unexpected!


7 posted on 11/14/2012 2:48:06 PM PST by Don Corleone ("Oil the gun..eat the cannoli. Take it to the Mattress.")
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To: TheRhinelander
Let it all expire. Once the white middle-class figures out that their taxes were raised so ghetto slugs and illegal moochers can have more “freebies” then they may decide to wake up.
8 posted on 11/14/2012 2:49:05 PM PST by tobyhill
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To: tobyhill

This is sounding a lot like the rest of these failed deals where taxes go up.
Spending cuts never happen


9 posted on 11/14/2012 2:49:11 PM PST by tennmountainman
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To: tobyhill

Jay Leno: “Both parties in Washington now agree that our country is headed for a ‘fiscal cliff’. The bad news: We just elected a guy whose campaign slogan was “Forward”.


10 posted on 11/14/2012 2:53:55 PM PST by Lucky9teen (Peace is that brief glorious moment in history when everybody stands around reloading.~Thomas Jeffer)
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To: tobyhill

The stupid fool bonehead will do it again too. The rats did this to Reagan and then again last year which brought sequestration and they’ll do it again.

Best thing to do is NOTHING. Let all the tax cuts expire. NO DEALS.

Of course, what does bonehead and the rinos care what we think? They never have before.

We are wasting our time here though. Nobody listens and nobody cares what we think or say. May as well walk away and forget about it.


11 posted on 11/14/2012 2:55:26 PM PST by Sequoyah101
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To: tobyhill

He wants to avoid a recession. Yet he wants to raise taxes on people making over $200,000....which will cause a recession.


12 posted on 11/14/2012 2:57:02 PM PST by Terry Mross (I haven't watched the news since the election. Someone ping me if anything big happens.)
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To: tobyhill

I tend to agree. I pay about 8% in federal taxes right now. It won’t hurt me. It will hurt others. 2014 can’t come fast enough.


13 posted on 11/14/2012 2:57:59 PM PST by TheRhinelander
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To: tobyhill

of course the hikes come first.

There won’t be anything that comes second.


14 posted on 11/14/2012 2:58:05 PM PST by cableguymn (The founding fathers would be shooting by now..)
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To: broken_arrow1

Rush said to let them have what they want. I agree but make it tough on them. Then when everything crashes and burns we will fix it.

Don’t call me a Democrat. Those are fight’n words.


15 posted on 11/14/2012 2:59:10 PM PST by TheRhinelander
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To: tobyhill

We’re in a Recession; this crap will push us into a Depression. He’s not an incompetent dumbass. He knows exactly what he’s doing.


16 posted on 11/14/2012 3:00:40 PM PST by carriage_hill (America - a great idea while it lasted.)
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To: tobyhill

Witnessing the corrupt Republicans and the criminal Democrats bicker over the US Debt, is like watching two drunks argue over a bar bill tab, on the Titanic.


17 posted on 11/14/2012 3:03:34 PM PST by carriage_hill (America - a great idea while it lasted.)
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To: tobyhill
Obama says tax hike will have to come first in "fiscal cliff" deal

So much for any discussion on what will be the best course of action to serve America best.

zero wants to increase taxes no matter what the taxpayers want.

Besides, with more tax money, he has more of our money to squander.

18 posted on 11/14/2012 3:11:38 PM PST by DustyMoment (Congress - another name for white collar criminals!!)
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To: tobyhill

Tax hikes on the “rich” will include anyone working for a salary or wage. It would be nice if the GOP worms could point that out.


19 posted on 11/14/2012 3:31:22 PM PST by sergeantdave (The FBI has declared war on the Marine Corps)
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To: tobyhill

So how does taking money out of the economy (taxes) grow the economy?


20 posted on 11/14/2012 3:48:42 PM PST by FatherofFive (Islam is evil and must be eradicated)
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To: tobyhill

Boehner should see that bet and raise it.


21 posted on 11/14/2012 4:18:12 PM PST by gotribe
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To: tobyhill

What good are tax hikes when dimocrats just throw the money away? Any revenue gained through tax hikes will be wasted on more stuff for lazy people - not pay down federal debt.


22 posted on 11/14/2012 4:24:03 PM PST by tlp2001 (Capitalism is based on human strength, communism is based on human weakness)
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To: TheRhinelander

Here is what is coming:

http://www.youtube.com/watch?v=HWMIwziGrAQ


23 posted on 11/14/2012 5:30:49 PM PST by broken_arrow1 (I regret that I have but one life to give for my country - Nathan Hale "Patriot")
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To: LowTaxesEqualsProsperity; All

Why is it that neither Romney nor Obama during the debates seemed to realize that personal income taxes do not affect the ability to hire people. IF you have never had business, rental or farming income, then pull out your IRS Instruction booklet and look at Schedule C, E, and F. You will see that wages for work performed by people for your business or rental property are all deducted from your gross income before any taxes are calculated. Thus hiring people is deducted from your final income as a business expense. So the income you actually have to pay income taxes on have nothing to do with hiring people.

I can see that Obama would not know this, but Romney??? Oh, well, I guess if you are rich, someone else does the taxes and you remain ignorant of how it all works. And misinform the rest of us.


24 posted on 11/14/2012 5:36:16 PM PST by gleeaikin
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To: TheRhinelander; All

In his speech today Obama said that if the restoration of the Clinton tax rate for the top 2% is passed by the House (the Senate has already done so), he could sign it next week. OH, how happy this would make all the retailers for Thanksgiving and Christmas buying season and the whole economy.


25 posted on 11/14/2012 5:39:31 PM PST by gleeaikin
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To: TheRhinelander
Make it 500k and pass the deal.

I think revocation of all Obamacare vouchers needs to be part of any deal.

26 posted on 11/14/2012 5:43:01 PM PST by tacticalogic ("Oh, bother!" said Pooh, as he chambered his last round.)
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To: tacticalogic

Ack. Not “vouchers”, but waivers.


27 posted on 11/14/2012 5:43:55 PM PST by tacticalogic ("Oh, bother!" said Pooh, as he chambered his last round.)
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To: tobyhill

Give him what he wants...it won’t change anything and two years from now things will be worse and that arrow will no longer be in his quiver.


28 posted on 11/14/2012 6:07:19 PM PST by wtc911 (Amigo - you've been had.)
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To: tobyhill

Give him what he wants...it won’t change anything and two years from now things will be worse and that arrow will no longer be in his quiver.


29 posted on 11/14/2012 6:19:31 PM PST by wtc911 (Amigo - you've been had.)
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To: tobyhill

Give him what he wants...it won’t change anything and two years from now things will be worse and that arrow will no longer be in his quiver.


30 posted on 11/14/2012 6:19:31 PM PST by wtc911 (Amigo - you've been had.)
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To: tobyhill

Give him what he wants...it won’t change anything and two years from now things will be worse and that arrow will no longer be in his quiver.


31 posted on 11/14/2012 6:19:34 PM PST by wtc911 (Amigo - you've been had.)
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To: tobyhill

I’m not hearing anything about “CUTS”. If you give more revenue to the democrats, they will just spend it. Big “O”
wants to bring this Country down so he can impose socialism.


32 posted on 11/15/2012 8:22:35 AM PST by upcountryhorseman (An old fashioned conservative)
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To: gleeaikin

Can you show us where exactly the ‘tax on inomce is clarified”???

There is GROSS income.

There is ADJUSTED GROSS income.

Thjere is TAXABLE income.

I have yet to hear which ‘income’ Obama is referring to when he talks about taxes of any kind.


33 posted on 11/15/2012 9:14:04 AM PST by ridesthemiles
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To: ridesthemiles; All

When Obama is talking about tax on income, I assume he is talking about the Taxable income on page 2 of the 1040 form. Since that is the point at which you look at the tax table, or if you have an income above a certain figure have to do your own calculation. Also, he did clarify that the first $250,000 of income would not go back to the Clinton rate under his plan. Only the amount above $250,000 would loose the Bush tax cut. I guess this means that if you have $500,000 income then you would pay about 2.25% more than under the Bush cuts. At any rate, the tax above a certain figure would go from 35% to 39.5% I can remember when the rich were supposed to pay 90%, and then 70%. Of course, they figured out a lot of loopholes to prevent that. If you don’t do your own taxes, I suggest you take a good look at the 1040 form, and the IRS Instruction booklet.


34 posted on 11/15/2012 11:00:38 PM PST by gleeaikin
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