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Obama says deficit plan must include higher taxes for wealthy (OK! Bush Tax Cuts will expire)
the hill ^ | 11/9/2012 | By Amie Parnes and Russell Berman

Posted on 11/10/2012 6:04:06 AM PST by tobyhill

President Obama called on Congress on Friday to reduce the deficit in “a balanced and responsible way” in his first public remarks since winning reelection.

The president said Congress should extend the current tax rates for 98 percent of Americans, but raise taxes on households with annual income of more than $250,000.

Obama did not talk about higher tax rates in his speech, but said he would not accept a deal that cut spending and entitlements but did not ask wealthier households to pay more taxes.

“If we’re serious about reducing the deficit, we have to combine spending cuts with revenue and that means asking the wealthiest Americans to pay a little more in taxes,” Obama said. “That’s how we did it in the 1990s when Bill Clinton was president, that’s how we can reduce the deficit while still making the investments we need to build a strong middle class and a strong economy.”

(Excerpt) Read more at thehill.com ...


TOPICS: Extended News; News/Current Events
KEYWORDS: abortion; deathpanels; idiotsdidntvote4mitt; obamacare; zerocare
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1 posted on 11/10/2012 6:04:12 AM PST by tobyhill
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To: tobyhill

Am I wrong or is “taxing the rich” the one thing he says he will not compromise?
Not that I believe anything this lier says.


2 posted on 11/10/2012 6:08:13 AM PST by Leep (Are you smarter than a 7th grade math student and or Barack 0bama?)
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To: tobyhill

Shut this economy down.


3 posted on 11/10/2012 6:09:17 AM PST by Principled
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To: tobyhill

If the President feels so badly about the rich, why doesn’t he give up his Presidential salary?

Why doesn’t he pay more in taxes as he has every right to choose to do.

The President wants racist revenge on rich white people, that is his goal. In the meantime he is slamming hell out of Middle incomepeople too. He knows the facts, that if we took every penny the rich have it would not solve the problem.

Any more than taking away the oil company deductions of 2 billion dollars will negate the 90 billion he gave to Greenies so they could go bankrupt with our money.

The Democrats really did re-elect this stupid Muslim didnt they.


4 posted on 11/10/2012 6:10:00 AM PST by Venturer
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To: tobyhill

The wealthy will leave and we the middleclass while we are still alive will be temporarily footing the bill..... until this runs out the people march and the real plan is put into effect, welcome comrad to the new Amerikka. why do you think the feds took over education of our children, so they know nothing about history and the repeat of it. Ask anyone here from a communist government


5 posted on 11/10/2012 6:11:21 AM PST by ronnie raygun (bb)
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To: tobyhill

The wealthy will leave and we the middleclass while we are still alive will be temporarily footing the bill..... until this runs out the people march and the real plan is put into effect, welcome comrad to the new Amerikka. why do you think the feds took over education of our children, so they know nothing about history and the repeat of it. Ask anyone here from a communist system


6 posted on 11/10/2012 6:11:38 AM PST by ronnie raygun (bb)
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To: tobyhill
I hope they ALL expire. I hope that we not only get the 2 percent increase with SS, but that we ALL get a raise in taxes. I want this country to feel what they voted for. I hope that people making 30-50K a year see a 200 dollar a month decrease in their pay checks. I want this tax increase so noticeable that people MIGHT wake up. I know it will hurt us too but I think we need something drastic to happen so I am sorry for FREEPERS who will suffer for this increase, but I do believe that it MIGHT make things better next election.
7 posted on 11/10/2012 6:15:15 AM PST by napscoordinator (GOP Candidate 2020 - "Bloomberg 2020 - We vote for whatever crap the GOP puts in front of us.")
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To: tobyhill

Republicans should just let the Bush era tax cuts expire at this point. (it a loser with the MSM fighting Democrats battles for them). Then start an ad campaign asking our moron in chief how he plans on closing the rest of the deficient spending now that the tax on the “rich” have put a microscopic dent in federal spending.


8 posted on 11/10/2012 6:18:52 AM PST by Fzob (In matters of style, swim with the current; in matters of principle, stand like a rock. Jefferson)
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To: All

THE PRICE TAG we are paying so that America-hater Obama and desperate vote-crazed pols can get re/elected.

NOTE Oftentimes the conniving pols bury these programs within other programs making them difficult to find. Americans have been hammered with govt propaganda that it was the Iraq war and the war on terror that is bankrupting the US. Here’s the real reasons:

1. $11 Billion to $22 billion is spent on welfare to illegal aliens each year by state governments.
Verify at: http://www.fairus.org/site/PageServer?pagename=iic_immigrationissuecenters7fd8

2. $22 Billion dollars a year is spent on food assistance programs such as food stamps, WIC, and free school lunches for illegal aliens.Verify at: http://www.cis.org/articles/2004/fiscalexec.HTML

3. $2.5 Billion dollars a year is spent on Medicaid for illegal aliens. Verify at: http://www.cis.org/articles/2004/fiscalexec.HTML

4. $12 Billion dollars a year is spent on primary & secondary education for children here illegally and [usually] cannot speak a word of English. Verify at: http://transcripts.cnn.com/TRANscriptS/0604/01/ldt....0.HTML

5. $17 Billion dollars a year is spent for education for the American-born children of illegal aliens, known as anchor babies (or as Terry Anderson says “JACKPOT” babies!)Verify at: http://transcripts.cnn.com/TRANscriptS/0604/01/ldt.01.HTML

6. $3 Million Dollars a DAY is spent to incarcerate illegal aliens. Verify at: http://transcripts.cnn.com/%20TRANscriptS/0604/01/ldt.01.HTML

7. 30% percent of all Federal Prison inmates are illegal aliens. Verify at: http://transcripts.CNN..com/TRANscriptS/0604/01/ldt...01.HTML

8. $90 Billion Dollars a year is spent on illegal aliens for Welfare & socialservices by the American taxpayers. Verify at: http://premium.cnn..com/TRANSCIPTS/0610/29/ldt.01..HTML

9. $200 Billion dollars a year in suppressed American wages are caused by the illegal aliens. Verify at: http://transcripts.cnn.com/TRANSCRI

13. In 2006, illegals sent $45 BILLION in remittances to their countries of origin.

Verify at: http://www/..rense.com/general75/niht.htm

14. The Dark Side of Illegal Immigration: Nearly One million sex crimes committed by Illegal Immigrants In The United States. Verify at: http: // www.drdsk.com/articleshtml

The total cost is a whopping $ 338.3 BILLION DOLLARS A YEAR WHICH WOULD BE ENOUGH TO STIMULATE THE ECONOMY FOR THE CITIZENS OF THIS COUNTRY. Are we THAT Stupid?WAKE UP AMERICA!!!!!!!!!

PLUS!

1. The Earned Income Credit...money people get back on their taxes that they NEVER paid into in the first place! Illegal aliens, most of which pay zero in net taxes, enjoyed $4.2 billion from the Additional Child Tax Credit (ACTC) last year. That’s more than the annual revenue from the selected oil tax deductions and corporate jet deductions combined!Verify: http://www.redstate.com/dhorowitz3/2011/09/02/illegal-aliens-receive-4-2-billion-in-additional-child-tax-credits/

2. The cost of prosecuting and making SURE the “rights” of illegals are protected by US laws madefor US citizens. In 2009, the U.S. Justice Dept filed nearly 92,000 pro-immigrant-related criminal cases in the federal courts. The record-breaker accounted for more than half of all new federal prosecutions, according to data maintained at Syracuse University. Verify at:

http://towncriernews.blogspot.com/search?q=federal+court+cases


9 posted on 11/10/2012 6:22:08 AM PST by Liz ("Come quickly, I'm tasting the stars," Dom Perignon)
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Obama's Empty Chair posted this on Facebook:

Obama s Empty Chair

10 posted on 11/10/2012 6:23:07 AM PST by SunkenCiv (https://secure.freerepublic.com/donate/)
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Thanks Vintage Freeper for posting this:

Debt Ceiling Debate in a Nutshell | Creators.com | 07/29/2011 | Chip Bok | Posted on 07/30/2011 12:12:11 PM PDT by Vintage Freeper

11 posted on 11/10/2012 6:23:07 AM PST by SunkenCiv (https://secure.freerepublic.com/donate/)
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To: AdmSmith; AnonymousConservative; Berosus; bigheadfred; Bockscar; ColdOne; Convert from ECUSA; ...

Thanks tobyhill.


12 posted on 11/10/2012 6:23:07 AM PST by SunkenCiv (https://secure.freerepublic.com/donate/)
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To: tobyhill

“Tax the rich”

I’ve worked hard for a long time, against the friction of incessant taxes, to reach a point where they want to take more and more of what I’ve earned while I’m alive, and more and more of what’s left for my family after I die.

Even so, in a time of crisis, I could temporarily go along with this if I didn’t think Obama and the Dems were such liars. They want it all.

In particular, this 10 for 1, or 5 for 1, expenses cut versus tax raises, will prove to be particularly false. For example, let’s say they settle on 5 to 1. Obama will want to count $2 trillion in war savings as a cut, so without changing anything, he’d ask for $400 billion in tax increases (over ten years). And that’s the way it will go with everything. They will use baseline budgeting as the expense level, so there will be no real cuts—but there will definitely be higher taxes.

And, after a couple of years, even though the deficits will still be large, the increased taxes will be used as a platform for increased future spending. “We’ve sacrificed so much for so long; the still-wealthy should show economic patriotism and fund these programs for our suffering new amnesty-granted citizens. They are Americans, too.” I can hear it all now.


13 posted on 11/10/2012 6:24:35 AM PST by Pearls Before Swine (Cynical about the political process. Who, me?)
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To: tobyhill
For those of us in the Northeastern part of the United States, $250,000 isn't rich. I know a pair of attorneys who work as county prosecutors. Their household income from lawyering is probably right around $250k. If they're so rich, how come they hostess/bartend at a nearby Irish pub for extra cash? The only "luxury" they've got in their lives is they send their kids to Catholic school (about 5 grand a year). They live in 3 br 1.5 bath home in a nice, safe neighborhood, but it's nothing fancy. The wife drives a minivan and the husband drives an old accord.

In conversations with the wife, my wife found out that they're working the extra jobs because they wanted to have money for the extras. Turns out, "extras" is things like little league dues and soccer shinguards for the kids.

I am really beginning to detest Democrats.

14 posted on 11/10/2012 6:24:35 AM PST by old and tired
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To: tobyhill

Lowering tax rates will actually increase the revenue to the feds. This has been shown time and time again. He’s either too stupid to understand this, or too committed to punishing the rich to give a damn.

The unfortunate result will be that the debt and deficit will increase and growth will decrease because a group of Americans are being targeted for punishment. Disgusting.


15 posted on 11/10/2012 6:25:00 AM PST by youngidiot (God help us.)
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To: ronnie raygun
How stupid do you have to be to believe you can tax the rich?Actually, how stupid do you have to be to believe that some rich guy can tax the rich and will give you the money?

Were that true there would be no rich - the ultimate outcome of all socialist endeavors.

We are a pathetic nation of greedy, self-indulgent imbeciles neither capable nor deserving of freedom.

16 posted on 11/10/2012 6:26:44 AM PST by Aevery_Freeman (All Y'all White Peoples is racist!)
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To: Pearls Before Swine

/bingo


17 posted on 11/10/2012 6:27:32 AM PST by SunkenCiv (https://secure.freerepublic.com/donate/)
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To: ronnie raygun
How stupid do you have to be to believe you can tax the rich?

Actually, how stupid do you have to be to believe that some rich guy can tax the rich and will give you the money?

Were that true there would be no rich - the ultimate outcome of all socialist endeavors.

We are a pathetic nation of greedy, self-indulgent imbeciles neither capable nor deserving of freedom.

18 posted on 11/10/2012 6:28:12 AM PST by Aevery_Freeman (All Y'all White Peoples is racist!)
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To: SunkenCiv

Just let the bush tax cuts expire. This way Boehner can go on TV and say the Bush tax cuts were tax cuts for he rich, therefore the expiration of them takes care of the tax increase on the wealthiest.

Then let the media and Obama try to explain it away.


19 posted on 11/10/2012 6:28:27 AM PST by EQAndyBuzz (Media goes nuts in 2004 because Bush went to the dentist 20 years ago. Benghazi? Nothing.)
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To: youngidiot

I’ve tried that argument many times when talking to Libs and they seem to be dumb to understand. It’s time to just let it go and prove to them that raising rates on everyone will not work despite everyone paying their “fair share”.


20 posted on 11/10/2012 6:28:31 AM PST by tobyhill
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