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Sun Nov 11, 2012, 04:51 PM

President Obama, you campaigned on raising the tax RATE of the top

even though the republicans are pressuring you to change your mind and eliminate some deductions, PLEASE stick to your pledge and raise the rate.

9 replies, 1048 views

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Arrow 9 replies Author Time Post
Reply President Obama, you campaigned on raising the tax RATE of the top (Original post)
MrYikes Nov 2012 OP
Drale Nov 2012 #1
Autumn Nov 2012 #3
geek tragedy Nov 2012 #4
Lionessa Nov 2012 #6
alcibiades_mystery Nov 2012 #8
Thrill Nov 2012 #2
MrYikes Nov 2012 #5
alcibiades_mystery Nov 2012 #9
Revolutionary Girl Nov 2012 #7

Response to MrYikes (Original post)

Sun Nov 11, 2012, 04:57 PM

1. Its not that easy

If the obstructionist house refuses to act on raise the rate, then there is not much the President can do.

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Response to Drale (Reply #1)

Sun Nov 11, 2012, 04:59 PM

3. He can let them expire, and he should.

I really have to laugh at the trite little phrase "there is not much the President can do"

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Response to Drale (Reply #1)

Sun Nov 11, 2012, 05:00 PM

4. He doesn't need to do anything--they go up automatically on January 1. nt

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Response to Drale (Reply #1)

Sun Nov 11, 2012, 05:34 PM

6. No, you're wrong. It's so easy, all he has to do is nothing.

 

And the tax cuts for everyone expire. Then he can re-introduce tax cuts for the middle class and dare the repubs to obstruct that.

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Response to Drale (Reply #1)

Sun Nov 11, 2012, 06:26 PM

8. Completely false

Barring any action, the tax rate for every income bracket will revert to pre-2001 levels.

If the Republicans want to present a temporary tax cut for income brackets under $250,000 at that point, the President will be happy to sign it. If not, the tax rate stays at pre-2001 levels by law.

It's all very simple. What does Obama or the Congress have to do for top income bracket tax rates to increase/

Nothing.

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Response to MrYikes (Original post)

Sun Nov 11, 2012, 04:59 PM

2. Let the cuts expire

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Response to MrYikes (Original post)

Sun Nov 11, 2012, 05:24 PM

5. But why is raising the rate so important

and why are the republicans so dead set against it?

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Response to MrYikes (Reply #5)

Sun Nov 11, 2012, 06:30 PM

9. Raising the rate is important because the lower tax rate has plunged us into massive deficit

Obama campaigned on a policy of deficit reduction using two methods:

1) Cut spending responsibly from wasteful or unnecessary programs
2) Raise government revenue by raising the tax rate modestly on the top income bracket (over $250,000/househol or $200,000 for individual filers).

This was not some "hidden" policy. It was a centerpiece of his campaign. It was in every stump speech. It was in nearly every ad. It was featured prominently in all his campaign material.

And the American people voted for it.

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Response to MrYikes (Original post)

Sun Nov 11, 2012, 05:38 PM

7. Republicans are just trying to protect their rich masters.

I love the situation, though. The President holds all the cards. Either the Republicans will capitulate to his wishes, an enormous victory for him, or he can simply let the cuts expire and rightfully blame the Republicans for letting it happen. Either way, he'll ultimately get what he wants.

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