Is Obama taxing the rich, or is he just letting the Bush tax cuts expire?

[Dawgs]

I think it's important for Democrats to get their talking points in line on this topic because the Republicans will use it to go after Obama BIG TIME.

So, is Obama really planning on NEW tax cuts for those making more than 250,000?

[rocktivity]

1. I believe his ultimate goal is to roll all the tax cuts back to Clinton-era levels

a sensible strategy, since that's that last time we had a surplus.

:headbang:
rocktivity

[lunatica]

2. The tax cuts are for those making less than $250,000 isn't it?

[uponit7771]

11. Yes

[flpoljunkie]

3. Buchanan et all apoplectic this morning over 'tax increases.' Haven't we heard this before!

Greedheads, all!

[Captain Hilts]

8. They'll convince Joe and Mary Shit Taxpayer that their taxes are going up too, when they're not. nt

[uponit7771]

12. No message discipline by the DNC on this issue, they're STILL not getting out in front of the tired

...ass'd GOP talking points tired as in they've done this before and we already know them

[Captain Hilts]

14. Agree. nt

[baldguy]

4. He's allowing the Republican GIFTS to the rich expire.

And he's enacting the largest tax cut in history - which will stimulate the economy.

[Hutzpa]

5. Obama IS not planning new Tax cut,

he is allowing the Bush Tax cut to expire and then will use the Clinton
tax for people making over $250k a year.

The republicans have no grounds to attack him on this, so settle down.

[Captain Hilts]

7. Perception, not reality is the issue here. The press IS wealthy and will feel the increase. nt

[Dawgs]

24. "settle down"? Wow. You definitely are a Democrat.

You're assuming the Republicans won't call this raising taxes just because they don't have a leg to stand on. Are you knew to this?

Do you really think the media and Republicans won't be claiming a huge tax increases by Obama? They've already started it for Christ's sake.

[Hutzpa]

27. The Republicans are

caught between a rock and a hard place denouncing Obamas tax cut, how can a
Republican argue about tax cut when this country has seen tax cuts for the past
8 years, furthermore, arguing against it will put them in a deeper shyte than
they're already in right now with the American people, because it makes them
look as if they care more about giving tax cut to the rich (top 1%) than
the rest since they voted against the stimulus bill, now, how do you explained
that(?)


We elected the right man for the job, al'right.

This is going to be fun to watch, let the political pandering begins.....
:popcorn: (from the media and talking heads)

[Captain Hilts]

6. He's taxing the rich, just as Bill Clinton did, and the over-paid press is starting to squeal...

and is going to try to convince middle income people that their taxes are going up when they're not.

It's an ugly, ugly repeat. THIS is where a lot of the press hostility toward Clinton came from.

[KansDem]

22. "...and the over-paid press is starting to squeal..."

Those folks who ride in limousines rarely say anything bad about those folks who ride in limousines...

[Dawgs]

25. He's not taxing the rich if he's only letting the Bush tax cuts expire.

No?

[Captain Hilts]

33. They'retalking about increasing taxes on upper income brackets. Not just expirations. nt

[Jennicut]

9. God forbid we should go back to a more reasonable tax structure

If anything, the Repukes have been redistributing the wealth to the top of the heap. I want a more progressive, fair tax system. Its about time. But the press and Repukes will have a hard time accepting that the days of getting off easy and free are over.

[Bad Thoughts]

10. Tax Policies that failed will be allowed to expire

There will be no legislation that will raise taxes, hence no tax increases. However, temporary Bush tax cuts for higher earners will be allowed to expire. And because they are failing to have a stimulative effect, no one should complain.

[ejpoeta]

13. i was trying to think of a good way to put in video form....

the truth that when it's about giving money to the rich, these republican mouth pieces think it's great but when it's meant for the rest of us, then they'll fight it as hard as they can. that's the way i see it, anyway. it's kind of like handing all that money over to wall street with no strings attached, but when it comes to regular jobs for the auto companies, they had to jump through hoops and show how they were going to get themselves out of this mess and how they were going to cut costs and such. the republicans want to give all the money to the rich people and tell the rest of us to tread water and piss off. i liked when i heard something about how can you ask someone who doesn't have shoes to pull themselves up by the bootstraps.

[Bad Thoughts]

18. How about the levees breaking and drowning the poor? eom.

[uponit7771]

15. Lack of message discipline by the DNC has ALREADY allowd GOPers to get out in front of this issue

...and frame it.

3 GOPers on CNBC this morning before 6am

[rvablue]

16. How exactly are the GOPers out in front. Last I heard, 70% of Americans are backing Obama's plan. n

[RaleighNCDUer]

23. That is not due to "lack of message discipline by the DNC" -

it is due to the GOP OWNING CNBC.

They are the minority, and they are wrong, but it is their fucking soapbox.

[LiberalFighter]

17. I think those making at least $1 million should pay much more in taxes. See historical table

(Year) (Tax Brackets) (Highest Tax Rate) (Amount Taxed)

1932 (54) 63% -- $1,000,000

1936 (33) 79% -- $5,000,000

1939 (33) 79% -- $5,000,000 (WWII started)
1940 (31) 79% -- $5,000,000
1941 (32) 81% -- $5,000,000

1943 (24) 88% -- $ 200,000

1945 (24) 94% -- $ 200,000 (WWII ends)
1946 (24) 91% -- $ 200,000

1952 (24) 92% -- $ 200,000 (First time Head of Household Tax Rate)
1953 (24) 91% -- $ 200,000

1964 (26) 77% -- $ 200,000
1965 (25) 70% -- $ 100,000

1978 (26) 70% -- $ 101,600
1979 (16) 70% -- $ 107,700

1982 (13) 50% -- $ 42,800
1983 (14) 50% -- $ 54,700
1984 (15) 50% -- $ 81,200
1985 (15) 50% -- $ 84,510
1986 (15) 50% -- $ 87,626
1987 (5) 38.5% -- $45,000
1988 (4) 28.0% -- $113,300
1989 (4) 28.0% -- $117,895
1990 (4) 28.0% -- $123,570
1991 (3) 31.0% -- $41,075
1992 (3) 31.0% -- $43,250
1993 (5) 39.6% -- $125,000

1995 (5) 39.6% -- $128,250
1996 (5) 39.6% -- $131,875
1997 (5) 39.6% -- $135,525
1998 (5) 39.6% -- $139,225
1999 (5) 39.6% -- $141,575
2000 (5) 39.6% -- $144,175
2001 (5) 39.1% -- $148,675
2002 (6) 38.6% -- $153,525
2003 (6) 35.0% -- $155,975
2004 (6) 35.0% -- $155,550
2005 (6) 35.0% -- $163,225
2006 (6) 35.0% -- $168,275
2007 (6) 35.0% -- $174,850
2008 (6) 35.0% -- $178,850

[sufrommich]

19. We've had 8 years of the republicans threatening this country.

Their whole message is " Appease the wealthy or they will fuck you up".They were appeased to ridiculous levels and we are very fucked up. That is our talking point.

[annabanana]

20. I hope he'll do BOTH. . . . n/t

[pnwmom]

21. He's planning a significant tax increase on the rich in addition to rolling

back the Bush tax cuts on the same group.

He will be funding health care by reducing the amount that wealthier taxpayers can currently deduct when they itemize deductions. This is unrelated to restoring the taxes lost with the Bush tax cuts.

[paulk]

30. that's not my understanding

http://www.bloomberg.com/apps/news?pid=20601087&sid=a_XNvdxZ6vtk&refer=home

It seems clear from this article that he's just letting the Bush tax cuts for the wealthy expire in 2011.

[pnwmom]

35. That link goes nowhere. So it's probably out-of-date.

The news about the change in the deductibility for the wealthy came out with the new budget proposal.

[paulk]

37. it's from today

Feb. 26 (Bloomberg) -- President Barack Obama proposed almost $1 trillion in higher taxes over the next decade on the highest-earning Americans, Wall Street financiers, U.S.-based multinational corporations and oil companies to pay for permanent tax breaks for lower earners.

Obama’s 2010 budget proposal, released today, would reinstate the top two Clinton-era tax rates of 36 percent and 39.6 percent, up from the 33 percent and 35 percent the richest Americans now pay. That would affect about 2.6 million taxpayers. The budget also would raise taxes on capital gains and dividends to 20 percent for top earners, up from the 15 percent set by former President George W. Bush in 2003.

The tax increases, which Obama vowed to impose as a presidential candidate, would take effect in 2011 and be the first on high-income earners since 1993. They also would reverse a course set by Bush of lowering the tax burden on the nation’s wealthiest people.

[Captain Hilts]

34. Correct. Stephanopolis, Hannity, O'Reilly, etc. your taxes are going UP. Suck on it and like it. nt

[avaistheone1]

26. I hope Obama takes the tax cuts further.

I hope he rolls back the Reagan tax cuts. The Reagan tax cuts are one of the key reasons we are experiencing the economic devastation we have today.

[crimsonblue]

28. Letting tax cuts expire...

Ironically enough, when they were introduced by Bush, they were touted as a short term tax cut to take advantage of record budget surpluses. The Bush tax cuts were never supposed to be permanent.

[paulk]

29. he's letting them expire Jan, 2011

and since the Republicans will attack him anyway by claiming that he's raising taxes

I don't understand why he doesn't just move to rescind them now.

[Phx_Dem]

31. The GOP wote and passed this bill with tax cuts for the rich. They

set an expiration date and now it's about to come due.

1. The Bush Republicans wrote the tax cut bill with an expiration date, not President Obama.
2. The wealthy have received tax cuts from Bush over the past 6-7 years while the middle class got nothing except ONE rebate check that we had to pay taxes on.
3. Now it time for the middle class to enjoy a tax cut. The rich do not deserve ANOTHER one!

Greedy assholes.

[ieoeja]

32. 100% of House Republicans just voted AGAINST a tax cut. Let's not forget that point. n/t

[bdamomma]

36. Obama is letting the bush cuts expire.

[Kurt_and_Hunter]

38. Both. Tax-cut expiration and additional high-income increase to help fund health care

The proposed increase is in the form of limiting over-all deductions for high earners.