Posted on 09/14/2010 4:20:05 AM PDT by tobyhill
Republicans in the U.S. Senate poured cold water on Monday on hopes for a compromise with President Barack Obama that would have allowed Bush-era tax cuts for the wealthiest Americans to expire.
Taxes have become a flashpoint going into a November 2 election in which Republicans are seeking to wrest control of Congress from the president's fellow Democrats. Obama says the cost of keeping the tax cuts for the rich is too high as the United States emerges from recession with a massive budget deficit.
(Excerpt) Read more at reuters.com ...
Taxes on the “rich” keep creeping up. Every tax cut is targeted to the middle class and most tax increases are disproportionately targeted at the “rich”. We’re now in a situation where the “rich” (top 5%) pay over half of all income taxes. That’s dangerous when the middle class and poor vote themselves benefits on the backs of the “rich.” Republicans need to do a much better job pointing out that most of the “rich” are small business owners who hire people and rent buildings and are the backbone of the economy. They aren’t Ted Kennedys and John Kerrys sitting around sponging off the wealth someone else built up for them.
the cost of keeping the tax cuts for the rich is too high as the United States emerges from recession with a massive budget deficit.
Frankly Scarlett, this doesn’t appear to be emerging from anything. Wouldn’t increases in employment be a leading indicator of emergence?
The question in my mind is this: Isn’t the cost of keeping that, (freedom of speech unavailable for use) in the White House way too costly?
I have to admit, I would be alot more comfortable with $200K coming in
Tweaking the tax code is not what we should be doing. We need a wholesale wipeout of the communists entrenched in the government. They are destroying us day by day with no one calling them out.
Just make the tax cuts permanent, dang it!!!
The Federal Tax receipts were the largest ever in 2007, under the current tax rates.
The deficits are created by SPENDING!
Do we really believe that “rich people” bury their money in the back yard?
They buy goods and services, hire more employees, or invest their hard earned money, making it available for other hard working people to borrow to buy goods and services, expand their business, and hire more employees?
Well America, Do you want JOBS or Class-warfare?
Obamster's tax on the wealthy, is actually a tax on employers. IOW, unemployment increases.
another word for “the rich” is - “employers”
Tweaking the tax code is not what we should be doing. We need a wholesale wipeout of the communists entrenched in the government. They are destroying us day by day with no one calling them out.
If tax cuts aren’t good for the rich, why are they good for the middle class?
Pray for America
DH and I barely qualify for the “rich” To earn this distinction, we work 14 hour days, nights, and holidays. Once you reach this benchmark, you get to pay confiscatory taxes, and I suspect our take home is not much different from those making far less than we do.
There is the AMT, deductions roll off and no financial aid for college for you, you are “rich” We paid over 6 figures in state and federal tax last year, and our accountant told us to expect 15K more this year. While I will survive the tax increase, I am cutting back on things like paying someone to clean my house, someone to mow the lawn etc. It will hurt those people far more than it will hurt me. And I can work an additional 2-3 14 hour days per month just to pay uncle sam. Once my kids are out of college, I plan on selling the house and cutting WAY back. I’m tired of the fruit of my labor being taken from me at gunpoint and being given to someone else. /rant off
And Nancy Pelosi would be on the fishing boat with Sarah.
Instead we have a system where guilt-ridden trust-fund babies, who pay very little in taxes, spend their idle time trashing those aspiring to get to higher levels through creativity and hard work.
Star Parker said she was raised to believe that
“You and I are poor because they’re rich”.
The left has done this on purpose. It is evil and destructive,
but it does give them POWER, and that’s all that matters to them.
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