Obama mum on proposal to scrap tax cut

Breitbart ^ | March 24, 2009

[anonsquared]

President Barack Obama says he's not ready to comment on a proposal from some Senate Democrats to scrap his middle-class tax cut after 2010. Obama says he hasn't yet seen what changes are coming out of the House and Senate.

But he delivered his bottom-line on the budget at a Tuesday evening news conference. Obama said the budget must move toward health care reform and include an energy policy that frees the nation from dependence on foreign oil. He also says he's looking for investment in education and a reduction in the deficit.

[anonsquared]

See my links on post #20.

[mylife]

Oh its one of my all time favorite cult films L0L

[jveritas]

You are right the tax rates did not change and hence this is not a tax cut. The surprise for all tax payers is when the Bush tax cuts expire on December 31 2010 and then they will see a much larger tax increase on them. For example the 10% tax bracket will go up to 15% ( 50% increase), the 25% will go up to 28%, the 28% will go up to 31%, the 31% will go up to 34% and the 35% will go up to 39.5%. However based on the trillions of dollars that Obama wasted on welfare and “toxic” assets and the more trillions that he is going to waste then I guarantee for you that people will be paying much more in taxes than just the increases I mentioned above. I expect that the top bracket to be over 60% by 2012.

[anonsquared]

Great interest rate!

For those of you thinking of refinancing who were or are USN or USMC, Navy Federal Credit Union - http://nfcu.com - is offering 4.625% with .75 points for a 30 year fixed.

[anonsquared]

OOPS, dyslexic moment... De Niro!!!

[Campion]

What he said: Obama said the budget must move toward health care reform and include an energy policy that frees the nation from dependence on foreign oil. He also says he's looking for investment in education and a reduction in the deficit.

What he means: Obama said that he will continue to borrow hundreds of billions from the Chinese if they will lend it to us; barring that, he will simply print dollars. This money will be wasted on useless liberal pet projects and payoffs to political supporters. Eventually, the debt will have to be wiped out through hyperinflation, destroying the savings of every American family, leaving millions of Americans facing the prospect of a "retirement" dominated by poverty and hunger, and paving the way for a totalitarian dictatorship.

[autumnraine]

“And he said he never expected Congress to approve his plan without some changes. “

What is he saying? That he is shocked the entire House and Senate are bunch of whipped weenies? That he never expected them to let him get away with EVERYTHING and it’s their fault for approving it?

[anonsquared]

Mine too! I need to get the 3 disc set with the Director’s Cut.
http://www.amazon.com/Brazil-Criterion-Collection-3-Disc-Boxed/dp/B000G8NXZK/

I love the fact that Gilliam included the 92 minute edit of the film with a happy ending (!?!) that Universal wanted to come out with called “Love Conquers All”.

I feel like the idiots running and making decisions at the movie studios have taken over Washington and think their tweaking of someone else’s creation can make for a better outcome. Maybe Hollywood should have their pay capped at $500,000 so we can surgically remove them from their clones in the Democratic Party and get both groups living in the REAL WORLD!

[mylife]

I could use a happy ending.
I will have to add that set to my collection.

[sheana]

In the real world when you lower the interest rate on your mortgage, you end up paying less interest which then lowers the deduction you can take thereby RAISING your taxes.

About 22 yrs ago we bought a house for about $75k. We lived in the house for 10 yrs and watched our deductions go down and taxes go up. We sold the house for the same price we paid for it and bought a much bigger, more expensive house. I told hubby......I would rather spend more on a house than send my dollars to the govt.

[anonsquared]

“I would rather spend more on a house than send my dollars to the govt.”

And with everything the Fed is doing, you can pay it back with inflated dollars that are worth less!

[sheana]

Well, we have been in that bigger, more expensive house now for 12 yrs on a 15 yr mortgage. We are right back where we started....sigh.

[Shannon]

Which means 2011 will be a heavily taxed year which people will realize in the Spring of 2012. Should be still fresh in everyone’s minds when it comes time to vote later that year.

[jveritas]

Yes it should be.