Fact Check on Obama's Supposed Tax Increase

[Science Abuse]

They (manufactors) took their business else where because of an opportunity presented for profit, pretty simple to me, a fundamental belief making America the wealthiest country in the world.

How can we be the wealthiest country in the world with a high unemployment rate? There is wealth coming in, but it bypassed the lower and middle class, went right to the top, and did not trickle down. Some of the most successful portfolios of the last 15 years have been those stuffed with companies moving overseas. Trickle down econ has turned out to be a tornado, sucking wealth from below and sending it straight up.

[Science Abuse]

 

Aww the Obama campaign is upset, that dont like real questions... http://www.youtube.com/watch?v=X346U109Chs

Saw it, those are not real questions, those are retarded questions. What they asked was on par with an internet accusation of some one being gay. There isn't a single thing that she bought up that wasn't refuted. The Marx question was the most retarded thing I've ever seen passed off as news. Good on Biden for answering each of those and putting the cunt in her place. You are aware that the bitch is the wife of a McCain staffer and donor.

 

How would the RNC treat some one who came to Palin with:

"You once spoke before the Alaska Independence Party, why do you hate America?"

"As Governor, you cut funding to special education programs by 50%, how do you not hate retards?

"Does this quote sound familiar?:'Man walked next to dinosaurs, there have been footprints found.' How can Americans trust you with our education if you make up stories and can't even get basic natural history right?"

[OSUGT]

How can we be the wealthiest country in the world with a high unemployment rate? There is wealth coming in, but it bypassed the lower and middle class, went right to the top, and did not trickle down. Some of the most successful portfolios of the last 15 years have been those stuffed with companies moving overseas. Trickle down econ has turned out to be a tornado, sucking wealth from below and sending it straight up.

 

 

You speak as if it has a manifest destiny to stop at the middle class. I'm middle class and I went out and got it. Eventually, I will grab a little more.

 

This is the best environment in which to do that. Spreading the wealth does nothing to make anyone better themselves.

 

Edit. You and I are 27 and 31 respectively....ask someone who lived through a bumbling peanut farmer administration about "High Unemployment Rates"

[Science Abuse]

Edit. You and I are 27 and 31 respectively....ask someone who lived through a bumbling peanut farmer administration about "High Unemployment Rates"

Dude, you didn't have a fully functioning nervous system when he took office, what do you remember about his presidency?

It was 7.5% when he took office, and it was 7.5% when he left office. During his term, it was as low at 5.6% and never higher than 7.8. Reagan was the only president (since the depression) to have a double digit civil unemployment rate.

(source, U.S. Department of Labor: Bureau of Labor Statistics)

[Scotty2Hotty]

I doubt anyone here really works for/owns a company that makes less than $250K/year. I don't need my checks getting any smaller.

[Ry_Trapp01647545522]

Suppose that every day, ten men go out for beer and the bill for all ten comes to $100. If they paid their bill the way we pay our taxes, it would go something like this:

 

The first four men (the poorest) would pay nothing. The fifth would pay $1. The sixth would pay $3. The seventh would pay $7. The eighth would pay $12. The ninth would pay $18. The tenth man (the richest) would pay $59.

 

So, that's what they decided to do.

 

The ten men drank in the bar every day and seemed quite happy with the arrangement, until one day, the owner threw them a curve.

 

'Since you are all such good customers,' he said, 'I'm going to reduce the cost of your daily beer by $20.' Drinks for the ten now cost just $80.

 

The group still wanted to pay their bill the way we pay our taxes so the first four men were unaffected. They would still drink for free. But what about the other six men - the paying customers? How could they divide the $20 windfall so that everyone would get his 'fair share?'

 

They realized that $20 divided by six is $3.33. But if they subtracted that from everybody's share, then the fifth man and the sixth man would each end up being paid to drink his beer. So, the bar owner suggested that it would be fair to reduce each man's bill by roughly the same amount, and he proceeded to work out the amounts each should pay.

 

And so:

 

The fifth man, like the first four, now paid nothing (100% savings). The sixth now paid $2 instead of $3 (33% savings). The seventh now pay $5 instead of $7 (28% savings). The eighth now paid $9 instead of $12 (25% savings). The ninth now paid $14 instead of $18 (22% savings). The tenth now paid $49 instead of $59 (16% savings).

 

Each of the six was better off than before. And the first four continued to drink for free. But once outside the restaurant, the men began to compare their savings.

 

'I only got a dollar out of the $20 declared the sixth man. He pointed to the tenth man, 'but he got $10!'

 

'Yeah, that's right,' exclaimed the fifth man. 'I only saved a dollar, too. It's unfair that he got ten times more than I!'

 

'That's true!!' shouted the seventh man. 'Why should he get $ 10 back when I got only two? The wealthy get all the breaks!'

 

'Wait a minute,' yelled the first four men in unison. 'We didn't get anything at all. The system exploits the poor!'

 

The nine men surrounded the tenth and beat him up. The next night the tenth man didn't show up for drinks, so the nine sat down and had beers without him. But when it came time to pay the bill, they discovered something important. They didn't have enough money between all of them for even half of the bill!

 

And that, ladies and gentlemen, journalists and college professors, is how the tax system works. The people who pay the highest taxes get the most benefit from a tax reduction. Tax them too much, attack them for being wealthy, and they just may not show up anymore. In fact, they might start drinking overseas where the atmosphere is somewhat friendlier.

 

For those who understand, no explanation is needed.

 

For those who do not understand, no explanation is possible.

[Science Abuse]

Ban for posting a story that in no way reflects how tax code works. It's also a repost.

[Tractor]

How can we be the wealthiest country in the world with a high unemployment rate? There is wealth coming in, but it bypassed the lower and middle class, went right to the top, and did not trickle down. Some of the most successful portfolios of the last 15 years have been those stuffed with companies moving overseas. Trickle down econ has turned out to be a tornado, sucking wealth from below and sending it straight up.

 

 

Your exactly right. I guess we should go take back all those Ipods that poor people bought and caused Apple to get back on the map as a profitable company and great stock to invest in over the past 5 years.

 

That is what American is all about. People can buy worthless crap while still maintaining their "poor" lifestyle. I feel so bad for them:-)

[Tractor]

Really the rates don't look so bad. I find it cool how I can look at this chart and see one thing and Eric can look at it and see something else. Very neat how that all works.

 

http://data.bls.gov/PDQ/graphics/LNS14000000_79022_1225240089712.gif

 

Now everyone does understand that government, Illuminati, what ever, do in fact try to keep unemployment around 4-4.5%. Any lower and wages start going up and it becomes increasingly difficult to hold inflation at a steady rate of 1-2% (yes they try to keep it at that rate as well.)

[Brandon]

How can we be the wealthiest country in the world with a high unemployment rate? There is wealth coming in, but it bypassed the lower and middle class, went right to the top, and did not trickle down. Some of the most successful portfolios of the last 15 years have been those stuffed with companies moving overseas. Trickle down econ has turned out to be a tornado, sucking wealth from below and sending it straight up.

 

Eric, ill make it short and sweet.

 

Please tell me you understand that the democrats, do not even follow their own policies, they are the richest members of our senate, they hold huge stakes in wall street... They really looking out for the little guy, or are they simply looking out for themselves? I mean Obama recently just changed his stance on campagin finance reform, wonder why, couldnt be because he spent 3-1 what mccain spent could it...

 

http://www.forbes.com/beltway/2006/11/17/senate-politics-washington-biz-wash_cx_jh_1120senate.html

 

http://query.nytimes.com/gst/fullpage.html?res=9806E4DE1538F931A25755C0A96F958260

 

Taxing the rich heavily is not the solution. Seems the democrat leaders will be taking a huge hit...Not likely.

 

I sapose you believe unions are a wonderful device as well, really they help America stay competitive.

 

Back on point, if you mearly seek jobs Eric, then tell me why Japan sent thousands of jobs over seas to right here in America, practicing predatory capitalism? Seems like they figured it out, but no your right, all our *wealth* is gone, turns out you may have to suffer, and work for the money. Again taxing the rich to spread the wealth down to the middle and lower class, will only make things worse.

 

The Reds are coming!:bangbang:

[Science Abuse]

 

Please tell me you understand that the democrates...

He died, a long long time ago.

 

I do understand fully that most politicians make gobs of money. Saying that one flavor makes more than another is ridiculous, but I'm with on the rest. They're all looking out for themselves because their employment status depends entirely on us voting them back in. You don't have a lot of time to work on anything but appeasing the dumbass citizens in your dumbass district.

 

I don't like unions either, but if I were to toss out a candidate because of a couple points that I disagree on, I'd never vote.

Who wants to tax the rich "heavily"? Looking at the rates oin a chart, everyone says OMG teh poor rich! They give away 35% of their earnings and Obama wants 38%! Forgetting entirely that everyone has deductions and works the system at least once a year, if not week-to-week. When the year is done, I doubt anyone is paying out anywhere near 35%.

[Brandon]

He died, a long long time ago.

 

I do understand fully that most politicians make gobs of money. Saying that one flavor makes more than another is ridiculous, but I'm with on the rest. They're all looking out for themselves because their employment status depends entirely on us voting them back in. You don't have a lot of time to work on anything but appeasing the dumbass citizens in your dumbass district.

 

I don't like unions either, but if I were to toss out a candidate because of a couple points that I disagree on, I'd never vote.

Who wants to tax the rich "heavily"? Looking at the rates oin a chart, everyone says OMG teh poor rich! They give away 35% of their earnings and Obama wants 38%! Forgetting entirely that everyone has deductions and works the system at least once a year, if not week-to-week. When the year is done, I doubt anyone is paying out anywhere near 35%.

 

 

There are loop holes yes, I know you know. Agree to disagree, thats how politics work amiwrite.

 

 

An we have loop holes because we have to many lawyers...Sitting around sucking life from the already lifeless. Im not saying they dont serve a purpose but...We should do similarly that what the europeans or maybe british do im not 100% certain and limit the total number of lawyers per state, or region. Limit the mcdonalds law suits...

 

And typically the rich donate the most money for the poor, so they do have a conscience, or they would rather donate to their belife, and write that off on taxes.

 

 

As for a note above, taxes serve a good purpose, but so do donations...They cant force you to donate anything, but they can make it benefical for you to do so, I prefer that then robin hood men in tights. :bangbang:

[LJ]

There are no "250k+ tax cuts"

 

He is letting the whole Bush Tax Cut from 2001 expire, changing the brackets

 

http://www.whitehouse.gov/news/reports/taxplan.html

 

read and learn, you may have to do some math though, seeing as how there is no "250k" level in the tax code.

 

Letting the Bush tax cuts expire will bump EVERYONE up by at LEAST 3% depending on your effective tax bracket.

 

His tax cuts would have to be 3% or GREATER in many cases for them to be an actual cut. Any less, and they are an INCREASE...

 

 

Ahem.... Eric?

 

Hello?!

 

Cat got your tongue?

[Science Abuse]

Ahem.... Eric?

 

Hello?!

 

Cat got your tongue?

No, I responded, go back and read post #21.

It's not ALL of the Bush tax cuts that are being allowed to expire, just those effecting the top 1%. Try to keep up, even the right-wing rags have this information in them.

[LJ]

No, I responded, go back and read post #21.

It's not ALL of the Bush tax cuts that are being allowed to expire, just those effecting the top 1%. Try to keep up, even the right-wing rags have this information in them.

umm, they either expire or they don't.... It was 1 bill...

 

In letting the whole bill expire (that IS an absolute) his initial tax cuts would have to average over 4% in order for everyone to not see an increase in taxes.

 

Try to keep up on how things work

[Science Abuse]

Is it terribly difficult to understand how that's going to happen?

[LJ]

Is it terribly difficult to understand how that's going to happen?

 

 

Yes, how about you explain how Obama's proposed tax cuts are on TOP of an expiring tax bill, that when it expires in 2010, that the net effect will be an INCREASE over the current tax rates.

[igotaprestent4u1647545491]

Listen...

 

 

Raising taxs will create an economic down turn, .

 

what do you think is happening now with lower taxes? a government in severe debt?

[LJ]

Eric, what you aren't understanding is, in that letting the Bush Tax Cut bill expire in 2010, Obama would have to reintroduce the cuts below $297k, and if he doesn't, the net effect will be an increase on taxes for EVERYONE.

 

(BTW, there is no $250k bracket)

[Science Abuse]

Yes, how about you explain how Obama's proposed tax cuts are on TOP of an expiring tax bill, that when it expires in 2010, that the net effect will be an INCREASE over the current tax rates.

You're reading half sentences and incomplete statement. Some one says "Obama want to let eh Bush tax cuts expire and..." and you stop listening right there.

I'm not here to sell you Obama, go to his website and read his proposal, the "how" of the "what" is there. I'm not reading it to you, you're a grownup.

 

the Bush Tax Cut bill expire in 2010, Obama would have to reintroduce the cuts below $297k....

Oh yaRly? Hey I wonder if anyone's thought of doing that....

[LJ]

You're reading half sentences and incomplete statement. Some one says "Obama want to let eh Bush tax cuts expire and..." and you stop listening right there.

I'm not here to sell you Obama, go to his website and read his proposal, the "how" of the "what" is there. I'm not reading it to you, you're a grownup.

 

Oh yaRly? Hey I wonder if anyone's thought of doing that....

 

 

You really think he is going to do that? That is funny

 

Seeking to explain why he is backtracking on a campaign promise to cut taxes for the middle class, President-elect Bill Clinton said Thursday that the plan was never a major theme in his race for the White House.

 

Mr. Clinton, speaking at a news conference a day after saying he would have to "revisit" his tax-cut plan, said Americans voted for him because of the "big things" he wanted to do.

 

The middle-class tax cut, he said, was not among them.

 

He said he was "absolutely mystified" that the news media had perceived it as a major pledge. In interviews Wednesday, Mr. Clinton said that, because of worsening deficit projections, "I have to put everything back on the table."

 

Mr. Clinton spoke throughout the campaign of the need to redress declining middle-class incomes during the 1980s. He proposed a tax cut for the middle class nearly a year ago, in New Hampshire, and repeated the pledge frequently.

 

But in the weeks since his election, two things have changed. The government's estimate of growth of the federal budget deficit over the next five years has grown about $60 billion. Also, the new team of Clinton economic advisers has apparently made new calculations and concluded that the tax cut idea is not tenable if Mr. Clinton wants to reduce the deficit and also move ahead with an "investment" program to revive the economy.

[Science Abuse]

Go read it. Several independant organizations who monitor this crap have come to the same conclusion I have; Obamatron's plan will lower taxes for the middle and lower classes.

Stop reading pundits bullshit and go suck on some boring assed data.

[LJ]

Go read it. Several independant organizations who monitor this crap have come to the same conclusion I have; Obamatron's plan will lower taxes for the middle and lower classes.

Stop reading pundits bullshit and go suck on some boring assed data.

 

I have read it, and the net result, if he allows the tax cuts to expire (in which he has lead people to believe that only effect the "rich") is an increase in EVERYONE's taxes.

[OGRE]

How can we be the wealthiest country in the world with a high unemployment rate? There is wealth coming in, but it bypassed the lower and middle class, went right to the top, and did not trickle down. Some of the most successful portfolios of the last 15 years have been those stuffed with companies moving overseas. Trickle down econ has turned out to be a tornado, sucking wealth from below and sending it straight up.

 

please do a little research, compare our unemployment Vs. that of other countries. then open your pie hole.

 

http://www.nationmaster.com/graph/lab_une_rat-labor-unemployment-rate

 

lets even assume that its gone up to about 6.x% like some, But the news has also said that unemployment in europe is going up too.

 

Your are the typical liberal, bitch, bitch, bitch, but with no valid plan of your own. Instead of doing your usual bullshit of picking out 5 words and going on a tangent with it that is not the point of that post, answer a couple questions:

why do companies move overseas?

what can we do to stop it?

How does raising taxes on buisness help keep them in the U.S. and how do those buisness taxes effect the middle class worker?

 

Actually anyone voting for obama and defending his tax plan take a crack at them.

[Science Abuse]

Joel that can swing any way you want it to swing, you just hand-pick the countries that represent the point you wish to make.

Expanding on the original point: Our unemployment rate is rising and the figure above is based on that, how can we have a strong future with this trend continuing?

 

In fact, I submit that the strength of a nation is not measured by its GDP, but rather by the living conditions of it's citizens, which is directly related to employment, both the quality and quantity there of.