Skip to comments.Obama says deficit plan must include higher taxes for wealthy (OK! Bush Tax Cuts will expire)
Posted on 11/10/2012 6:04:06 AM PST by tobyhill
President Obama called on Congress on Friday to reduce the deficit in a balanced and responsible way in his first public remarks since winning reelection.
The president said Congress should extend the current tax rates for 98 percent of Americans, but raise taxes on households with annual income of more than $250,000.
Obama did not talk about higher tax rates in his speech, but said he would not accept a deal that cut spending and entitlements but did not ask wealthier households to pay more taxes.
If were serious about reducing the deficit, we have to combine spending cuts with revenue and that means asking the wealthiest Americans to pay a little more in taxes, Obama said. Thats how we did it in the 1990s when Bill Clinton was president, thats how we can reduce the deficit while still making the investments we need to build a strong middle class and a strong economy.
(Excerpt) Read more at thehill.com ...
Terrible. $250,000 a year should afford one things such as Catholic school and little league. I’m afraid the rest of the nation is soon to follow the Northeast.
That is the right move — but let the Demwits do it.
First off, refuse to budge on “some” tax increases without getting rid of Zerocare or specifying what gets cut.
Second, all Republicans need to vote “Present”, thus letting the Demagogic Party be responsible for letting the Bush-era tax cuts expire.
We can take all the rich, confiscate their every last asset, have them drawn & quartered in the streets, and maybe take a small chunk out of the interest on the debt. For a few years.
Hearing this guy lecturing Romney about “the math” in the debates was excruciating.
They’re going to do Boner like they did Reagan in the ‘80’s.
The taxes will rise but the cuts will never appear...only this time obama won’t get the blame like Reagan did.
Thus the reason not to “negotiate” anything. Let the Rats do EVERYTHING on their own from raising the debt ceiling to passing a Continuing Resolution.
SHUT ‘ER DOWN!
Yep, let the DEM’s own the inevitable collapse.
After the smoke clears maybe enough will wake up to reality....the rest will continue to blame Bush.
This will not hurt small business. Millionaires can afford it. It won't lower the deficit, but who cares. The Demoncrats want to demonize the rich, so be it. WE HAVE ALREADY LOST THIS ARGUMENT. This can be a HUGE compromise issue. We can get something HUGE for it. We'll be seen as compromising, willing to work together, while they really get nothing of consequence.
It's time to compromise on immigration. All we need to get out of this is border security. A fence, drones, cameras, sensors, agents, (whatever we want), in return for pseudo amnesty. Call it whatever you want as long as you don't call it amnesty. I don't care if it IS amnesty. We HAVE TO be on the right side of immigration reform. They are not all going to self deport. We are not going to uproot or split up families. We are not going to deport adults who were brought here as children. We are STUCK on stupid on this issue. We are not going to kick these people out.
THEY ARE ALREADY HERE. DEAL WITH IT. We need to STEAL this issue from the Demoncrats. Again we win. We get what we want, (border security) and they get what is already the status quo and WE take credit for it.
Have a retroactive drop dead date, say 11/10/2012, and then enforce immigration to the letter of the law. ZERO tolerance. If you can't PROVE you were here prior to the drop dead date, YOU GO BACK.
Illegals will come out of the shadows, get documentation, have a chance at FUTURE citizenship. Remember, THEY ARE ALREADY HERE and they aren't going back, voluntarily or otherwise. Can you handle the TRUTH?
Let's make these WINNING issues for US. As it stands now, we are the biggest losers.
Everyone will be “rich” when he have Zimbabwe dollars. I just wish that one time, one of the Republican leaders would come out hard against 0bama and the regime. Tell the nation that 0bama wants the nation to fail and give the reasons; call him a proto-dictator, a Marxist-socialist and send the regime and Leftist media into an apoplectic fit. Tell the public that we need spending cuts and across the board tax cut, repeal of 0-care, energy; nothing short will suffice, and no compromises. We need to stir the pot, not acquiesce. Paul Ryan is in the best position to do this.
Better yet, propose a fix where all the lower rates are reduced by 3 to 5%, and increase the top rate to 36.25%. Keep the cuts.
Sit back and watch 0 sputter.
He won't go for it, but if he does (And let's face it, he wanted the top rate to go up, he never said how much) in six months propose a small business tax cut that lowers the top rate to something below 30. Diffrentiating between personal and business income isn't that hard, at least for people with a brain.
Truly wealthy do not pay taxes, they hide behind c-corporations.
They’ll just flee the country like Denise Rich.....they vote for it, and then they’ll leave when it affects them. Taxes are for the “little people.”
the democrats have been demonizing the “Bush Tax Cuts” for 10 years. The democrats said the “Bush Tax Cuts” destroyed our economy and only benefittted “the rich”
So let them ALL expire
All of them
No more “Bush Tax Cuts”
For the next two years all Republicans in Congress should vote “present” on every single bill. Democrats will have their Utopia — no dissent.
The pain will be immediate.
The cities will burn before the next election and the Republicans could not be called obstructionist, even by the media.
Only then will conservatism, not progressivism and its evil twin RINOism, be the ascendant political philosphy and America can then rise from the ashes.
The Republicans should offer up a bill that takes 50% of the wealth over 10 million of all the “evil wealthy”. Make it cover wealth going back 20 years so that all the “evil wealthy” who have moved their wealth overseas get hit, too.
Make it illegal for them to come to the US unless it is paid.
I guarantee the Democrat Senate and Obama would not pass it. They would freak out and then the Republicans can use it as a learning moment for all the class haters.
Also, throw in 95% wealth tax on all Hollywood actors and directors.
Most certainly they pay their tax attorneys more than they do to the IRS.
The Kennedy’s hide behind trusts, and I am sure man others do too.
This Obama idiot thinks we are all fools withhios tax the rich BS. He is rich, all of the Congress are rich, they will figure a way to protect their rich’s we all know that.
If they really want to do something pass a law that they have to retire on Social Security and have Obamacare for their insurance. See how fast they straighten this mess out then.
The biggest scam in this country is Congressional and Presidential retirements and the fact that they are free from Obamacare.