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Non-boring factual info on Obama Tax Proposal

“Pretty interesting, because it doesn't create a sharp reversal but a dwindling reversal...kind of like the Iraq withdrawal...”
-squeak

Comments

It's certainly not boring. It's infuriating. This is really a plan for zero economic growth. If this group gets it way we would be in for a decades long depression.

This "honest" budget also assumes GDP growth that is not connected to reality. Ask anybody you know in non-profit organizations like museums, hospitals, cancer research how they feel about scaling back the deductions for charitable contributions. Ask your 401(k) administrator how much new private capital will be invested if we continue to increase capital gains taxes.

I understand that this extremist redistribution plan is the hope of many Democrats but this approach was never spelled out in the Obama campaign. If he had run on the budget he has just proposed he would not have gotten so many of the moderate voters he got in the election.

Everyone is an armchair economist!

Obama is a very smart and possibly brilliant man who has armed himself with very smart and brilliant economists. I'm not saying that this plan is perfect. (Hell, I haven't read all million pages of it - I'm assuming all of you out there slamming it like he has just signed on with Hitler's Re-creation of the
World Doctrine have.....
But, it leads me to think that you people really feel that we are headed for disaster. Too bad you all weren't so "intuitive, brilliant, and savvy " when Bush told us we HAD to go to WAR with IRAQ and GET SADDAM HUSSEIN to save our VERY LIVES; You remember? When we HAD to sign on to the $750 BILLION, to save our Financial system...
(oh, and btw, are they lending $$$ to the little people yet to buy cars, and houses, you know, all the things you can't put on your charge cards that they are charging 29% interest on ???) so that the world doesn't collapse around all this fraud and deceipt and theft in the BILLIONS that we are finding out, bit by bit, that those fancy pants brokers and big players have been STEALING from Investors over these past years of fucking, absolute unbridled gluttony: (EVERY MAN FOR HIMSELF, GET THE MANSION, THE SECOND MANSION, THE MERCEDES, EVERYONE LOOKS UP TO YOU, YOU ARE SUCH A SUCCESS, IT'S THE AMERICAN SUCCESS DREAM COME TRUE)? What you're really saying, all you naysayers, is “fuck all those middle class workers who faithfully have taken a chunk of their hard-earned paychecks and invested with you in order that they can have a bit more than Social Security will pay them when they are so tired and worn out that they decide it IS time to retire.”
YOU complainers take their money- and you live in a condo in Manhattan and eat at Zagat 4 stars every week.
Frankly I'm totally disgusted with ... all of you who think you have a better plan.

h
I tend to disagree with your comment about President Obama surrounding himself with "brilliant economists" particularly Tim Geitner, he cannot be considered a brilliant economist when he forgets to pay over six-figures in income taxes for multiple years. I am going to go along with the fact that he forgot to pay his taxes even though his employer sent him quarterly income tax payment reminders while he was employed with them. Otherwise it would mean that he knowingly didn't pay them and that could be construde as criminal behavior, so is forgetting, by the way, unless ofcourse you are an elite liberal friend of the President like Tom DaschHOLE and Timothy geitner. I dont even think he IRS made him pay penalties. I guess its true what they say about republicans getting rich from ripping off the little guy and Democrats get rich by not paying their taxes! Also I am not sure I would call Obama brilliant when he campaigned for President in all 57 states. He is a telented speaker, that is, when he is reading speaches that someone else wrote.

Working backwards, I stopped reading Memory Man's confusing diatribe when he accused Obama of not being smart because he "campaigned in (how many) states"??!! WTF is that? ... and then, he alluded to Obama "didn't write his own speeches". Like, what President DOESN'T use a speechwriter! "
Stop this bus and let me off- I thought these fools went into hiding after the election. But I guess there's no rest for us wicked.

Zero economic growth is better than negative double digit economic growth.
This problem has been on the verge of happening for years.
Didn't Enron prove to people that "fluffing your books" is not cool.

All of these people losing their Jobs today- will have an opportunity for more training and the government will focus on industries to re-employ people.

There is NO other way- folks. It sucks that the Greed of a few scammers can effect so many people (no thanks to the mortgage industry and the SEC).

Come writers and critics
Who prophesize with your pen
And keep your eyes wide
The chance won't come again

Almond Joy,
This is obviously what Memory Man was talking about. http://www.youtube.com/watch?v=EpGH02DtIws
This and the fact that Geitner is a WILLFUL tax cheat.

h,
Before you go round the bend on Republicans for rapacious credit card interest rates, you need to read up on the former Senator and current VP who has long been against the honest working middle class, and on the side of and a champion of these pigs.

http://www.commondreams.org/views05/0304-26.htm

http://www.huffingtonpost.com/jackson-williams/joe-biden-true-friend-of_b_120776.html

What makes you think Obama’s “Re-fried New Deal” is going to work any better than FDR’s original? Are you also in favor of banning a citizen’s right to decent, should we all just march lock step and do whatever we are told by our Government?

"should we all just march lock step and do whatever we are told by our Government?"

Harrumph- isn't that just what W had us do in the name of "terrorism"? Uh, remember how unpatriotic it was to not support the war (that was me- soooo unpatriotic). How about the Duct Tape and Plastic wrap scare?
We're in this mess because of LOOSE moral and financial responsibility under the guise of a free market society.
Guess what- we're screwed by it.
I'd rather Obama lead us out of this mess with a plan- rather than let the chips fall toward more global instability.
America should stand up and accept that it's going to be a rough road to recovery and it needs to start now.
Petty bitching is for losers.
Stand up and Be an American, for criminy's sake.

The other thing that really gets my goat is that President Obama said that if you made less than $250,000/year your taxes would not go up,but, he is now proposing that there be a cap on mortgage interest deuctions at 10% of household income. Last year I deducted $37,000 of mortgage interest. my wife and I together made $147,000 last year so under his new plan we would only be able to deduct $14,700 of interest which will cost me $22,700 in deductions so I will have to pay 28% taxes on that $22,000 of about $6400. this year we got a federal refund of $4800 under the new plan on the same income and interest I would owe $1600. so clearly my taxes are going up significantly and my income is way under the $250,000. So answer me this, why is President Obama good for the middle class??? simple he is not. I wish someone could prove me wrong, i really hope i am missing something on this, i probably am so charles if you want to post this in the my two cents section to get some of the kool aid drinkers to find out if i am wrong i would appreciate it because in this instance i really hope i am wrong. change is coming to my house and like so many others who are affected by the bad economy I havent been but instead I am being robbed by the messiah. Oh well hope fully the money goes to a good cause like the mom in California who cant afford to feed her 14 kids, or better yet maybe it will go to state funded abortion clinics or maybe one of the 9000 earmark projects that are in Obama's budget that he said he was going to eliminate, he didnt even cut down the number of earmarks, whats amazing is he has spent more money than all of the other Presidents COMBINED!! and he hasnt been in office for 2 months yet!! Hurry up everyone get to work work hard because millions of people who are collecting welfare are depnding on you!! how well do you think wall street is going to do when everytime Obama mentions wall street he says crooks, that doesnt inspire financial confidence now does it

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