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Thu Dec 20, 2012, 01:12 AM

John Boehner’s Plan B would raise taxes on the poor

Source: Washington Post

Details keep coming in about “Plan B,” House Speaker John Boehner’s proposal to extend the Bush tax cuts for income under $1 million permanently. A lot gets extended. The current very low estate tax rates are made permanent, and the phase-out of the personal exemption for high earners, and the “Pease” limit on high earners’ itemized deductions, are completely eliminated.

But some features don’t get extended. While the bill makes permanent the expansion of the Child Tax Credit (CTC) signed into law by George W. Bush as part of the 2001 tax cut deal — which bumped the credit from $500 to $1,000 — it does not extend an expansion that was passed as part of the 2009 stimulus package, and has been renewed since then, allowing poor families to refund more of the credit. Nor does it extend the stimulus’s expansion of the Earned Income Tax Credit (EITC), by far the most important anti-poverty program the federal government has, or the American Opportunity Credit (AOC), which provides tuition assistance for middle-class families. That has a huge impact on lower-income families.

* * *
The working poor, on average, would see taxes go up between $1,000 and $1,500 dollars. Barely anyone making over $100,000 would see a tax increase, and as a percentage of income, middle and upper middle class people making between $40,000 and $100,000 a year would see taxes go up less. But low income families earning $10,000 to $30,000 a year really take a beating under Boehner’s plan. Of course, if we do nothing, then the 2001 provisions expire as well and poor families are really in for a bruising.



Read more: http://www.washingtonpost.com/blogs/wonkblog/wp/2012/12/19/john-boehners-plan-b-would-raise-taxes-on-the-poor/



Plan B does not even cut the deficit as any of the proposals that were seriously being negotiated between Boehner and President Obama. Are Republicans purposely trying to crash the economy? Default on the Nation's debt. Is it just some big temper tantrum to punish the country for voting for Democrats in 2012.

14 replies, 3016 views

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Always highlight: 10 newest replies | Replies posted after I mark a forum
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Arrow 14 replies Author Time Post
Reply John Boehner’s Plan B would raise taxes on the poor (Original post)
TomCADem Dec 2012 OP
cstanleytech Dec 2012 #1
jerseyjack Dec 2012 #9
ForgoTheConsequence Dec 2012 #2
cstanleytech Dec 2012 #3
Fedaykin Dec 2012 #10
Historic NY Dec 2012 #4
TomCADem Dec 2012 #12
lexw Dec 2012 #5
snot Dec 2012 #6
Berlum Dec 2012 #7
leftyladyfrommo Dec 2012 #8
midnight Dec 2012 #11
TomCADem Dec 2012 #13
yellowcanine Dec 2012 #14

Response to TomCADem (Original post)

Thu Dec 20, 2012, 01:38 AM

1. Makes sense if you are a republican as they probably are thinking

"Gee there are so many poor now that we have ruined the country that they can easily afford to suckup these tax breaks for me and my rich friends"

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Response to cstanleytech (Reply #1)

Thu Dec 20, 2012, 07:11 AM

9. cstanlelytech. You mistyped. Please correct sentence to read:

 

"Gee, there are so many poor now that THEY have ruined the country...."



That is how the Republicans think. Most of the poor Republicans don't realize they are poor. The rest are gonna win the next Powerball so it doesn't matter.

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Response to TomCADem (Original post)

Thu Dec 20, 2012, 01:42 AM

2. Here's what I don't get.

Millions are spent to win elections with lots of demagoguery and lies. Republicans during every election claim to be for the working class and the wage earners and claim to want to protect social security and medicare and millions fall for it! Why not run ads calling them on their shit????? The DNC should be running ads right now saying "THIS IS THE REPUBLICAN PLAN, we're not making this shit up, do you agree with this? We didn't think so!!!" CALL THEM OUT ON THEIR FUCKING SHIT!!!!

Its all out there, expose these motherfuckers!

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Response to ForgoTheConsequence (Reply #2)

Thu Dec 20, 2012, 01:55 AM

3. Part of the problem with that though is that there are some Dems feeding from the same trough

so they dont want to rock the boat with the corporations and wealthy by doing that thus they remain quiet.

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Response to ForgoTheConsequence (Reply #2)

Thu Dec 20, 2012, 08:01 AM

10. Here's why the Dems won't do anyhting like you suggest...

 

|

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Response to Historic NY (Reply #4)

Thu Dec 20, 2012, 10:42 AM

12. That Is A Great Chart!

It is too bad that there is so much false equivalency and misinformation out there. The corporate media is working overtime to portray Boehner's Plan B as a serious offer when it is nothing more than an effort to obscure the fact that Boehner has no support from his caucas.

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Response to TomCADem (Original post)

Thu Dec 20, 2012, 02:03 AM

5. Fuck the GOP!

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Response to TomCADem (Original post)

Thu Dec 20, 2012, 03:40 AM

6. K&R'd.

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Response to TomCADem (Original post)

Thu Dec 20, 2012, 04:39 AM

7. Tax the poor, enrich 1% RepubliHogs. How Republican is that?

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Response to TomCADem (Original post)

Thu Dec 20, 2012, 06:13 AM

8. Oh, what's the difference.

I'm pretty poor - a little less just mean cutting back on the food. There goes the frozen fruit for my smoothie.

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Response to TomCADem (Original post)

Thu Dec 20, 2012, 08:29 AM

11. He thinks he can pass his plan b today.... I hope not...

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Response to midnight (Reply #11)

Thu Dec 20, 2012, 10:52 AM

13. The Only Reason Republicans Vote For It Is If...

...They are confident that Democrats will not also vote for it and President Obama won't veto it. As the chart in this thread shows, it is not a serious proposal and it is not even in line with Boehner's prior offers. Heck, it even leaves draonian cuts in defense spending, which many Republicans hate. The only purpose of the plan is to give the corporate media a basis for arguing that its not true that Republicans will never vote for taxes for the rich. This is why Pope Grover Norquist is going along for the gag.

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Response to TomCADem (Original post)

Thu Dec 20, 2012, 03:09 PM

14. Just pointing out the irony of "John Boehner's Plan B" once again.

Linking a name pronounced "BONER" with "Plan B", a common term for an emergency contraception medication, is too full of irony to ignore. Please proceed, Mr. Speaker.

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