Taxes would not go up on incomes less than 305,000

[Divine Discontent]

In Obama’s Plan to Tax Rich, $250,000 Figure May Mislead
By CATHERINE RAMPELL and BINYAMIN APPELBAUM
Published: December 6, 2012


President Obama’s insistence that marginal tax rates rise for families making more than $250,000 has convinced millions of affluent Americans that they are likely to be writing larger checks to the government next year.

But many of those families have no reason to fret.

A close look at the president’s plan shows that a large majority of families making up to $300,000 — as well as hundreds of thousands of families with even larger incomes — would not pay taxes at a higher marginal rate.

Because the complexity of the tax code makes it difficult to draw clean lines, they are the beneficiaries of choices the administration has made to ensure that families earning less than $250,000 do not pay higher rates.

http://www.nytimes.com/2012/12/07/business/obamas-tax-plan-would-spare-many-affluent-families.html?google_editors_picks=true

[No Elephants]

1. The increase does not apply to the whole amount, either. And he has already said the increase

does not need to be as "high" as Clinton Administration levels,

Sounds as though the tax increase is well on its way to being meaningless--and that's before we get to deductions.

We need the revenue. Living in a country means paying taxes, especially a country with a lifestyle like ours, a military like ours and a military mission like ours.

Deal with it.

http://en.wikipedia.org/wiki/List_of_countries_by_tax_revenue_as_percentage_of_GDP

http://www.mapsofworld.com/world-top-ten/world-map-countries-by-highest-tax-revenue.html

[Enthusiast]

2. No problem.

The fucking shortfall will be compensated for by cutting entitlements more deeply.

The military? Not so much.

[No Elephants]

4. Exactly. All we hear about are taxes and "entitlements."

The Defense budget? Not so much.

The White House and Executive Branch budget? Not so much.

The Congressional and Legislative Branch budget? Not so much.

Why stint on the people who have screwed up the country beyond belief?



The tax increase on the top 2% never was very meaningful in terms of dollars and is becoming less and less so.

And that is what we will get in exchange for cuts to Medicare and Medicaid, life and death issues.

So much for America's third rails. They are being sold for thirty shekels of nothing.

Fuck all the co-conspirators.

[formercia]

3. We don't even make enough to itemize

You can bet the GOP will try to screw us, though.

[Divine Discontent]

5. oh you can bet that! they'll want a couple percent knocked off Social Security or the Medicare

retirement age pushed up to 68 or 70. I hope whatever concessions are made to get the trillion dollars in taxes (over 10 huge years) is not something that will disgust me, and instead is small changes and tweaks, such as raising the income that is allowed to be taxed for social security from paychecks.

[No Elephants]

6. As with adultery and murder, the first time is the hardest.

We have now established once and forever that cutting safety nets is not only necessary, but inevitable.

The 1% of both parties would have paid almost any price for that, but are getting it very cheaply.

The hype about how the markets are now so desperate they just want a deal, any deal, is not 100% hype. The markets are not desperate at all. The 1%, however, is thrilled that they are getting the first snip at the safety nets for so very little.

[formercia]

7. A snip here, a snip there

soon, you're talking real Money.

That;s how the Reich has gotten so far....a snip here, a snip there.

One Day you wake up......

[formercia]

8. I find it's always the hardest, the first time.

:evilgrin: :rofl: