Teeing Up the Middle Class Tax

Wall Street Journal ^ | 08/04/2009 | Gerald Seib

[fiscon1]

Few of President Obama’s 2008 campaign pledges were more definitive than his vow that anyone making less than $250,000 a year “will not see their taxes increase by a single dime” if he was elected. And he was right, very strictly speaking: It’s going to be many, many, many billions of dimes.

[Sacajaweau]

He’s not gonna raise them....he’ll just let the Bush Tax cuts expire!! Nifty plan. Hey, are we stupid or what??

[jaydubya2]

Don’t cha know the Bush tax cuts were only for the rich?

[evad]

Obama has broken every pledge he made except the one he made to himself:
Tear down the American economy and redistribute everything left to his flock.

He's doing exceeedingly well on that pledge.

[Eric in the Ozarks]

When the $250 K and above was first mentioned, I knew it was just a matter of time til it was $50 K and above...

[Alberta's Child]

Of all people, it was Ross Perot who first pointed out how silly it was to think that the Federal government could raise massive amounts of revenue without imposing onerous taxes on the middle class.

Back in 1992 he pointed out that the Federal budget deficit couldn't be closed even if Uncle Sam went out and seized 100% of the assets of the richest Americans on the "Forbes 400" list.

[mbynack]

Here's a site with information on US Income breakdown from 2005.

Household Income in the US

It shows that about 25% of US Households made less than $50,000 in 2005. About 1.5% made $250,000 or above. That's a very few people who will have to pay the freight for a lot of others. Even worse when you factor in the number of Liberals who don't pay their fair share of taxes.

[antiRepublicrat]

Going to raise them? He said “any” tax. Cigarette taxes are already up, and most smokers make under $250K.

[uncbob]

And Clinton promised the Middle Class a tax cut and “never worked so hard on anything in his life “but just couldn’t do it

[PogySailor]

He's not going to raise them, congress will. And he'll sign the bill with a big ol’ s*** eating grin on his face. And the state run media will applaud and praise him.

[sr4402]

And the state run media will applaud and praise him

There is no tax increase the media doesn't love these days.

[sr4402]

Obama thinks eliminating the Bush tax cuts are not a tax increase. We will see when the American people feel it.