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Tue Jan 1, 2013, 07:00 AM

It's a new day of a new year, the Bush tax cuts for the rich are dead and Obama is coming back

We've got the end of the Afghanistan war coming a bit closer, surely marriage equality will come to more states or even the entire country in one fell swoop and a national healthcare system is the law of the land which will be improved upon over the years if we can get the right people elected in future Congresses.

We have a man of color as the Chief Executive and his most likely successor will be a Democratic woman, if she wants the job.

Things are looking pretty good today, but it's not to say that it's all good. We still have a lot of work to do. We still have a lot of momentum to gain to do that good work. We still have a lot of wrongs to right and a lot of dragons to slay.

But you know, I think that we're up to the task.

It's a new day of a new year and the sun's about to shine on all of us.

Time to get to work and make it all happen.

21 replies, 2756 views

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Arrow 21 replies Author Time Post
Reply It's a new day of a new year, the Bush tax cuts for the rich are dead and Obama is coming back (Original post)
MrScorpio Jan 2013 OP
darkangel218 Jan 2013 #1
Firebrand Gary Jan 2013 #2
Buzz Clik Jan 2013 #3
TahitiNut Jan 2013 #4
MrScorpio Jan 2013 #6
HiPointDem Jan 2013 #7
Honeycombe8 Jan 2013 #20
Honeycombe8 Jan 2013 #21
Comrade_McKenzie Jan 2013 #5
In_The_Wind Jan 2013 #8
Flatulo Jan 2013 #9
Kahuna Jan 2013 #10
Squinch Jan 2013 #11
Callalily Jan 2013 #12
lillypaddle Jan 2013 #13
Chico Man Jan 2013 #14
hakko936 Jan 2013 #16
Honeycombe8 Jan 2013 #15
Skittles Jan 2013 #19
brush Jan 2013 #17
Scurrilous Jan 2013 #18

Response to MrScorpio (Original post)

Tue Jan 1, 2013, 07:03 AM

1. Cheers to that!

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Response to MrScorpio (Original post)

Tue Jan 1, 2013, 07:23 AM

2. We have much to be happy about at this time.

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Response to MrScorpio (Original post)

Tue Jan 1, 2013, 07:38 AM

3. +1

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Response to MrScorpio (Original post)

Tue Jan 1, 2013, 07:39 AM

4. Correction: the "rich" get those tax cuts, too

Almost nothing is more obscured than the FACT that FIT tax rate reductions on income below $400K also apply to the FIRST $400K of income of the "rich" as well. The impression that the "rich" don't get the benefit of reductions in the tax rates is insidious hogwash!

We're STILL taxing earned income (that income derived from one's own labor) at higher rates than unearned income (income derived from the labor ofothers or the death of another). It's appalling to me that the Working Class is not only enriching the already-rich but is more heavily burdened in our tax system than those who, by virtue (or lack thereof) of our perverted economic system gain the greatest benefit from their labors!

Until the 70's, it was thought that labor equity (that portion of the value of labor returned to the worker) was essentially constant at 60%. Today, the average share of the value of a worker's labor in the S&P 500 returned to employees in the form of "employee compensation" is less than 35% of the value of that labor. That's fucking appalling!

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Response to TahitiNut (Reply #4)

Tue Jan 1, 2013, 07:41 AM

6. Like I said, it ain't perfect

But that only means that we have more work to do

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Response to TahitiNut (Reply #4)

Tue Jan 1, 2013, 07:43 AM

7. they get those cuts & i believe they also get to keep the bush-era lower taxation of dividend

 

income as well -- at every level of income.

also wish to point out that continuing to tax capital income at lower rates than labor income is not only unfair, it also has a political value, in that it tends to bias the upper-middle class toward policies that favor capital. and this section of the electorate is key in most political contests.

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Response to HiPointDem (Reply #7)

Wed Jan 2, 2013, 01:58 AM

20. I heard capital gains tax going to 20% from 15%. For everyone. nt

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Response to TahitiNut (Reply #4)

Wed Jan 2, 2013, 02:00 AM

21. This is true. Some people are having trouble understanding that the new rich tax rate is about 36%

not the pre-Bush-tax-cut rate of 39%....because they still get the lower tax rate of 33% on $400k-$450k.

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Response to MrScorpio (Original post)

Tue Jan 1, 2013, 07:40 AM

5. We need more people like you on DU...

 

It makes it bearable not having to swim through a pool of tears.

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Response to MrScorpio (Original post)

Tue Jan 1, 2013, 08:00 AM

8. Let's roll up our sleeves and get the job done.

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Response to MrScorpio (Original post)

Tue Jan 1, 2013, 08:13 AM

9. Even Fox News is reporting that the country is moving left.

Welcome to this special edition of the "Journal Editorial Report" as we look back on the year that was and the challenges facing us in 2013.

First to our big stories of 2012. America's left turn. From the Supreme Court's landmark health care decision to the re-election of President Barack Obama, politics on the national level, headed in a decidedly liberal direction. So what happened and what does it mean for the country going forward?


Read more: http://www.foxnews.com/on-air/journal-editorial-report/2012/12/31/americas-left-turn-2012#ixzz2GjGgbDPw

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Response to MrScorpio (Original post)

Tue Jan 1, 2013, 08:23 AM

10. Happy New Year, Mr. S. K&R! nt

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Response to MrScorpio (Original post)

Tue Jan 1, 2013, 08:27 AM

11. K&R. I agree that we have much more to do, but think of how the world

looked on New Years' Day 5 or 6 years ago. We're light years better.

Happy New Year!

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Response to MrScorpio (Original post)

Tue Jan 1, 2013, 08:32 AM

12. (((( President Obama ))))

It's a start - a most positive start!

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Response to MrScorpio (Original post)

Tue Jan 1, 2013, 08:34 AM

13. nicely said

Cheers, and happy new year!

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Response to MrScorpio (Original post)

Tue Jan 1, 2013, 09:15 AM

14. No.. The payroll tax cut is dead

This is going to hurt the middle class, strange how no-one is talking about it.

Oh, by the way, this tax has no impact on earnings above 115k.

Things aren't looking too good as my tax bill just increased a few hundred dollars a month.

I'm sure plenty will be waking up to this fact when they get their first or second check of 2013.

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Response to Chico Man (Reply #14)

Tue Jan 1, 2013, 09:42 AM

16. I agree.....

While the politicians are thumping their chest about raising taxes on the rich, there is nothing being said about the fact that all of the average workers are losing an additional 2% of their income to the payroll tax. That tax increase has gone un-noticed by those who were completely focused on taxing the rich.

What should have been done was to leave the payroll tax "as is" and then move the cap to $250,000. You might have even been able to lower the rate a bit if you did that. Instead, the politicians have spoon fed us what we wanted and stuck a knife in our back as we cheered them on.

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Response to MrScorpio (Original post)

Tue Jan 1, 2013, 09:19 AM

15. To be clear: The Bush tax cuts for the rich are NOT dead. They have been partially enshrined.

The old rate of a upper middle class/rich person: 39%

The 2012 rate of an upper middle class/rich person: 33%

The new rate of an upper middle class/rich person per the current deal: 33% up to $400,000 for an individual; a few more % points for amounts OVER $400,000.

It is NOT 39% for all income for those who earn $400,000 and over, which was the old rate.

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Response to Honeycombe8 (Reply #15)

Tue Jan 1, 2013, 11:25 PM

19. that requires people to think, H

their eyes will glaze over at "2012"

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Response to MrScorpio (Original post)

Tue Jan 1, 2013, 09:52 AM

17. Oh Yeah!

What a wonderful, positive post to start the new year with. Thanks, MrScorpio.

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Response to MrScorpio (Original post)

Tue Jan 1, 2013, 06:00 PM

18. K & R

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