Jump to content
House Price Crash Forum
R K

Obama Tax Plan - Taxy Taxy

Recommended Posts

http://www.bloomberg.com/news/2015-01-18/obama-tries-tax-cuts-on-rich-again-offset-by-new-breaks.html

Obama Proposes New Tax Increases on Wealthy to Help Middle Class

President Barack Obama is proposing new taxes on the wealthiest Americans that would limit their profits from investments and make it harder for them to pass assets to heirs.

Obama, who will promote the plan during his Jan. 20 State of the Union Address, will use much of the proceeds -- $320 billion over 10 years -- to expand tax credits for higher education and child care and create a new break for two-earner couples. The White House released details of the plan Saturday.

“What you’re seeing here is really dedicated middle-class tax relief to really get at that problem of middle-class wage stagnation,” said Harry Stein, director of fiscal policy at the Center for American Progress, a Washington group aligned with Democrats.

Obama’s tax plan faces opposition in the Republican-controlled Congress, where lawmakers want to cut tax rates and curtail targeted breaks. The two parties agree more on business tax changes, though an accord on that isn’t close.

Taxy taxy

Share this post


Link to post
Share on other sites

Tax = Take.

"Wealth" = take (by the 1%, 0.1% tail)

Odd how the 99.9% believe more resources for the .1% is a good thing

Even people like Buffet (and you dont get more .1% that him, tell you its bad)

Point is:

The President of the Free World is making it the centre piece of his State of the Nation address.

That should tell you something. Its informational.

Edited by R K

Share this post


Link to post
Share on other sites

Will just harm those not able to have good enough solicitors to find loopholes.


Do starbucks pay tax in America? Or does the sales tax mean they do on every sale?

Share this post


Link to post
Share on other sites

Something has to be done when fewer people are holding such proportions of the wealth.

But he does this at the end of his presidency when up until now his govt policy was to make the 1%ers richer than ever.

Share this post


Link to post
Share on other sites

President Barack Obama is proposing new taxes on the wealthiest Americans that would limit their profits from investments and make it harder for them to pass assets to heirs.

After the US general election at the end of 2016?

“What you’re seeing here is really dedicated middle-class tax relief to really get at that problem of middle-class wage stagnation,” said Harry Stein, director of fiscal policy at the Center for American Progress, a Washington group aligned with Democrats

To be fair it sounds more of a sop after decades of undermining their middle class and funnelling money to the "1%".

Edited by billybong

Share this post


Link to post
Share on other sites

"Wealth" = take (by the 1%, 0.1% tail)

Odd how the 99.9% believe more resources for the .1% is a good thing

Even people like Buffet (and you dont get more .1% that him, tell you its bad)

Point is:

The President of the Free World is making it the centre piece of his State of the Nation address.

That should tell you something. Its informational.

All it tells me is he's a friggin liar. Still devalues peoples spending power by incurring vast deficits, still spend hundreds of billions on pointless military excercises, still wont do anything to break the medical monopolies that means every family in america spends thousands more on healthcare than it needs to.

If Warren Buffet thinks he doesnt pay enough tax (i disagree - its the banking and financial policies that have allowed rent seeker scum like him to get rich in the first place thats the problem), whats stopping him from voluntarily paying more?

Share this post


Link to post
Share on other sites

Something has to be done when fewer people are holding such proportions of the wealth.

But he does this at the end of his presidency when up until now his govt policy was to make the 1%ers richer than ever.

Thats easy. Destroy the banking system. Have banking return to the size it was 1950-80 and wealth returns to those levels.

Frankly, I couldnt care less what Obama says. Or any GOP/democrat policitian. If their first act as a politician is to run for either party, they simply arent worth listening to. Not even Ron Paul.

Share this post


Link to post
Share on other sites

Thats easy. Destroy the banking system. Have banking return to the size it was 1950-80 and wealth returns to those levels.

Frankly, I couldnt care less what Obama says. Or any GOP/democrat policitian. If their first act as a politician is to run for either party, they simply arent worth listening to. Not even Ron Paul.

It wouldnt do anything to stop people/companies exporting jobs then them disproportionately profiting this.

Share this post


Link to post
Share on other sites

http://www.bbc.co.uk/news/world-us-canada-30908095

"Will we accept an economy where only a few of us do spectacularly well? Or will we commit ourselves to an economy that generates rising incomes and chances for everyone who makes the effort?"

Mr Obama's speech included plans to build a competitive economy by improving America's infrastructure and providing free access to community college.

"This plan is your chance to graduate ready for a new economy, without a load of debt," he said.

At the weekend, the White House pledged to close tax loopholes on large inheritances, raise capital gains tax on the richest earners from 23.8% to 28% and introduce new fees on US financial firms with assets about $50bn.

Some senior members of the Republican party dismissed this as "class warfare".

Other plans outlined by the president include:

  • improve statutory sick leave and minimum wage
  • help nine million students to pay for community college
  • stronger cybersecurity and consumer protection
  • continue with plans to shut the prison in Guantanamo
  • equal pay for men and women

Share this post


Link to post
Share on other sites

Judging by Obama's State of the Union address, he is completely insane. Totally loopy and on a different planet. Is he on drugs or something?

Share this post


Link to post
Share on other sites

Better late than never Obama. He's opened the door now to this issue. Trickle down is failing, its time to get redistributive up in here. If that proves to be too much then another solution will be offered, but at least the ball is rolling.

Share this post


Link to post
Share on other sites

Even if it reaches the level they expect (which it wont, it never does) $320 bn over 10 years is nothing.

£20 bn a year...in a nation of 350 million.

Hardly groundbreaking stuff, is it. They spend more than double the 10 year figure each and every year on the military.

I love how the americans try to make figures sound more impressive by saying 'over 5 years, over 10 years, over 20 years.

Share this post


Link to post
Share on other sites

Judging by Obama's State of the Union address, he is completely insane. Totally loopy and on a different planet. Is he on drugs or something?

I never thought I'd see a US president who, in words, if not actions...he's barely any different to Bush in that regard...out lefty's basically all European heads of state.

The pushing of this 'war on women' meme while thousands of dads are sent to prison in the US for seeing their kids or not agreeing with extremely anti-male terms after a divorce is particularly laughable.

Share this post


Link to post
Share on other sites

Judging by Obama's State of the Union address, he is completely insane. Totally loopy and on a different planet. Is he on drugs or something?

http://www.theatlantic.com/features/archive/2015/01/the-language-of-the-state-of-the-union/384575/

An interactive chart reveals how the words presidents use reflect the twists and turns of American history.

Share this post


Link to post
Share on other sites

http://www.theatlantic.com/features/archive/2015/01/the-language-of-the-state-of-the-union/384575/

An interactive chart reveals how the words presidents use reflect the twists and turns of American history.

American media is ******ed. Why even bother deconstructng an hour of lies. Why even listen to it?!

Edited by Executive Sadman

Share this post


Link to post
Share on other sites
Guest UK Debt Slave

"Wealth" = take (by the 1%, 0.1% tail)

Odd how the 99.9% believe more resources for the .1% is a good thing

Even people like Buffet (and you dont get more .1% that him, tell you its bad)

Point is:

The President of the Free World is making it the centre piece of his State of the Nation address.

That should tell you something. Its informational.

President of the "free world" huh? Snigger

It isn't informational, it's garbage

Obama will struggle to get any new legislation through the Republican dominated Congress.

He's just another empty suit. The media says his approval ratings have improved but I don't believe that either. The only Americans who approve of Obummer are diehard liberal bedwetters.

Edited by UK Debt Slave

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

  • Recently Browsing   0 members

    No registered users viewing this page.

  • The Prime Minister stated that there were three Brexit options available to the UK:   215 members have voted

    1. 1. Which of the Prime Minister's options would you choose?


      • Leave with the negotiated deal
      • Remain
      • Leave with no deal

    Please sign in or register to vote in this poll. View topic


×

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.