What Do You Think About Obama Budget's Raising Taxes On Wealthy?

[KittyWampus]

It returns income and capital gains taxes to pre-2001 levels for the wealthy and return estate taxes to 2009 levels. It would also include a new reduction of the charitable and mortgage deductions that can be taken by the wealthy -- down to 28% from the current high of 35.

Funny, you'd think this might get more attention.

[Safetykitten]

1. Why no attention? Becuase it is not a serious proposal. It's for show.

[sufrommich]

3. Really? You know this how? nt

[BlueCheese]

34. It's theater.

They know that there's no way on earth this will get past a Republican House.

It couldn't even get through a solidly Democratic Congress last year. It's lip service and a political stunt.

[phleshdef]

16. In other words, if you like an item, its for show, if you don't like it, its a betrayal...

...of epic magnitudes. Double standards for everyone!

[11 Bravo]

48. By George, I think you've got it!

[JoePhilly]

41. As are the CUTS he proposed, right??? Just for show???

Oh that's right ... Obama hate the poor.v

[GoCubsGo]

52. Yes,

It IS all for show. His cuts, his proposals. All of it. The House Controls the purse strings. They get to choose which, if any, of the President's proposed cuts AND spending increases they will make, or which of his new proposals they will include in the budget. Or, not. Or, which of their own they will make. Those who complain about the proposed cuts the President is making only need look at the draconian cuts the House repugs are making. THAT is what they need to worry about being passed. The President knew his budget would not pass. The second it came out, the House repugs said it was "DOA" without even knowing what was in it. His proposals were only to show him as the more reasonable one.

[Lucian]

2. "Shared sacrifice."

Meanwhile, next year, my parents will go without heat.

Who's sacrificing more? Those who can afford to pay more in taxes or those who can't afford to heat their homes?

[Statistical]

9. Why will your parents go without heat? n/t

[Erose999]

40. Because our new DLC/GOP overlords are going to cut funding to LIHEAP. nt

[rurallib]

4. from the same guy who campaigned on ending Bush tax cuts.

[JoePhilly]

8. Actually, he campaigned on not rasing taxes on those making under 250k

a promise he made to about 98% of the US population.

Importantly, a large majority of that 98% does not care that the rich got to keep their tax cut.

If Obama broke his promise to that 98%, "read my lips, no new taxes" would be the only thing the media would say from now, until the 2012 election.

[paulk]

43. sure

http://www.huffingtonpost.com/2010/12/07/obama-bush-tax-cuts-video_n_793123.html

[Safetykitten]

14. That's it in a nutshell.

[JoePhilly]

42. Except he ran on not raising middle class taxes.

Other than that, dead on.

[Bill McBlueState]

5. I saw that

My reaction was, "Interesting, but past events make it seem unlikely that he'll fight for this."

[Itchinjim]

6. Quiet you!

How dare you interrupt DU's poutrage!

[vi5]

7. I feel the same way as I did when he said...

He supported the public option and that he was going to let the Bush Tax cuts expire.

What he says and what he actually puts effort into fighting for are 2 very, VERY different things.

[Name removed]

10. Deleted message

Sub-thread removed by moderator. Click here to review the message board rules.

[Dappleganger]

22. My feelings too.

[DirkGently]

11. Because proposing to let the tax breaks expire in 2012 isn't news?

[hfojvt]

36. Is that what he is proposing?

I am still not clear on that, if his budget proposes ending them now, or ending them in two years. The articles seem to say that he is proposing ending them now, but that makes no sense. If he wants to end them now then why would he have surrendered back in December and then bragged about it in his State of the Union?

[Bandit]

12. DOA

Americans think Republicans are on their side.....Is there a more gullible nation on Earth?

[jillan]

13. A cut in mortgage deduction? Excuse me - I am by no means wealthy, and I have a mortgage.

Charitable deductions? Oh that is great!! The tax write-off is one of the reasons people donate to schools, shelters, food banks, animal cruelty - what a great idea to reduce the incentive to help non-profit organizations.

How many more ways is Obama going to rape me?

[robdogbucky]

19. Shhh....

You will wake someone up.

Nevermind

[mopinko]

23. if you are not wealthy, it wont affect you.

as it is these deductions phase out for higher incomes, as does the college tuition deduction. he is just lowering the phase out. i believe the phase out starts in $200k range now.

[These Eyes]

24. Really?

You're comparing this to the violence of rape?

[Statistical]

25. IF you aren't rich it doesn't affect you. It only affects those in the 35% bracket.

IF you are in the 35% bracket you can afford it.

win-win. :)

[JoePhilly]

46. I think it also only effects mortgages that are on the highest end as well.

[Hello_Kitty]

31. Yeah, I'm trying to understand why they'd go after the charitable contributions like that

I guess they don't think poor people will suffer enough with the direct cuts.

[sufrommich]

32. The deduction would affect households with taxable income of $250,000 or more.

Since when is that considered poor people?

[Name removed]

33. Deleted sub-thread

Sub-thread removed by moderator. Click here to review the message board rules.

[FourScore]

37. Exactly. n/t

[Bluenorthwest]

15. I liked his campaign idea about ending Income Tax on retired

people who make less than 50k. Once he got elected, he never even mentioned it again. I also liked his stance that mandating the purchase of for profit insurance to 'fix healthcare' was like mandating home purchase to solve homelessness. Once he got elected, he fell in love with the mandate. I like it when he said that any bill he would sign would have to have a strong public option included. Once he got elected, he actually claimed he'd never even said that.
The tree is known by the fruit it bears, not by what it says it is in a press release. A man's word, once it is seen to be mutable, is not sufficient grounds to make a decision around.
From his past actions, most Americans assume those cuts on the wealthy will never be put in place, he is willing to indulge in extreme language which he does not really mean, he likes the moment, so he takes that moment. Then he does as he wishes, no matter.

[RC]

18. You make Obama sound like a Republican.

No wait, It isn't you doing that, it is Obama himself doing that.

[sufrommich]

26. Have you seen what kind of budget cuts republicans are

asking for? No, Obama does not sound like a republican at all.

[hfojvt]

35. well I would say it is positive that he dropped that

So you'd have retired people who make $45,000 a year or $49,000 a year pay no income taxes. Meanwhile a working person making $18,000 a year is paying income taxes and also $1,377 in social security taxes and income taxes on that $1,377 that he/she never gets to spend.

Never mind that social security income is already tax sheltered and state and federal retirees often don't pay state income taxes on their retirement income.

[gratuitous]

17. And when the House takes up these proposals

How do you suppose they'll vote on ending LIHEAP, and how do you suppose they'll vote on returning capital gains and income taxes to pre-2001 levels? Boy, that's a stumper, all right. Hurts my brain pan to try to look into the future like that.

[Hello_Kitty]

30. No shit.

But we're only supposed to pay attention to the intention, not the result. I swear that's what someone told me here the other day. I was too "results focused".

[GoCubsGo]

53. They're planning to cut it, regardless of what the President proposes

And, much, much worse. They're planning to gut EVERY social safety net program. The House of Representatives is the ultimate decider of what gets put into the budget, and the repugs leaders have already said the President's budget is "dead on arrival". And, the President has said he will veto their drastic cuts.

[salinen]

20. Obama should

appear on SNL. It's all a joke.

[cbdo2007]

21. They're waiting to make a big deal about it until the election.....then they'll

peg him as someone who is going to raise everyone's taxes.

That was President Obama's mistake here. He was known as the guy who lowered taxes but now they'll be able to label him as going to raise their taxes again in the election and that may hurt him.

[Enrique]

27. it's a pony

it's one of those things that when we don't see it, we'll be ridiculed for protesting.

[Hello_Kitty]

28. I love how people think this makes cutting services to the poor okay

Like rich people can't be asked to make a minor sacrifice unless poor people make a really painful (and possibly deadly in the case of energy assistance) one. Anyone sniffing about how "the good things" in the proposal aren't getting enough attention just doesn't get it. I guess it's easy to be objective about this when you are comfortable and well fed.

[pansypoo53219]

29. HIGHER. it's the ONLY way.

and clinton PROVED it works.

[FourScore]

38. Please allow me to refer the poster of the OP to this thread:

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=439x425454

Says it all.

[HuckleB]

39. I like it! I'll like it more if he fights for it! -eom-

[quinnox]

44. Because as already pointed out, thats GOP spin

I can't believe Obama defenders have to resort to using GOP language to try and justify this budget.

AS already said in post #16 by RC, letting rates go back to where they were before the absurd Bush tax cuts for the ultra-rich and saying that is "raising taxes" is complete GOP spin.

If Obama wants to raise taxes on the rich, then let the Bush tax cuts expire, and then raise those rates higher.

THAT WOULD BE RAISING TAXES ON THE RICH.

OBAMA IS NOT PROPOSING THAT.

Nice try though.

[Rex]

45. Exactly.

NT.

[Gold Metal Flake]

49. Wow. You kind of shut down the thread.

Even the OP did not respond to you.

[ozone_man]

54. So much is in the framing.

Obama is to the right of Richard Nixon. Scary thought, but true.

[WVRICK13]

47. Lip Service

in my opinion. I am not wealthy and I cannot afford to end the deduction for mortgage interest. How will that help the housing crisis. If he was serious about raising taxes on the wealthy he would not have bargained to extend their tax cuts. I have always felt the easiest way to tell a politician is lying is by watching their lips moving. When I gave money I didn't have to the Obama campaign and fought to get him elected I thought he was too new to be corrupted. I was wrong, he is just another politician. He feels he can get some Republican votes but he forgot to figure in the loss of a lot of the base.

[Statistical]

50. If you aren't wealthy then you have nothing to worry about.

If you are wealthy another $2K in taxes ins't going to bankrupt you.

His plan is to have mortgage interest phase out (like other deductions) based on income. Likely above $250K.

[WVRICK13]

55. Great, That Is One Less Worry

Now, we need to fix the other budget cuts that hurt the poor.

[annabanana]

51. Like Western Civilization, It would be a "good idea". .n/t