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09-19-11, 10:52 PM #1
President Obama proposes to reduce deficit by ending tax cuts and loopholes for millionairesSpeaking from the White House this morning, the president called for a change when it comes to Bush-era tax cuts, recommending they expire for high income e
He is also planning to close loopholes for oil and gas firms, private jet owners and investment fund managers.
"I will not support any plan that puts all the burden for closing our deficit on ordinary Americans," said Obama. "I will veto any bill that changes benefits for those who rely on Medicare but does not raise serious revenues by asking the wealthiest Americans or biggest corporations to pay their fair share."
The president's plan also includes about $320 billion in Medicare and Medicaid savings, more than $1 trillion in savings from the troop reductions in Afghanistan and Iraq and calls for $250 billion dollars in cuts to other mandatory programs.
Obama says he will veto any changes to Medicare without asking the wealthiest Americans and biggest corporations to pay their fair share.
"Middle class families shouldnít pay higher taxes than millionaires and billionaires. Thatís pretty straight-forward. Itís hard to argue against that," Obama said.
09-20-11, 12:05 AM #2
How Obama Thinks
The article is about a year old, but still relevant. It also gives good speculation as to why Obama does what he does. So far, the only challenges to the article I've seen have been attacks against the writer. I've seen nothing to dispute his claims."If everyone is thinking alike, then someone isn't thinking." -Gen. George S. Patton
09-20-11, 02:39 AM #3
If you taxed every millionaire at 100% you would not solve the deficit.I'm your huckleberry...
Quemadmoeum gladis nemeinum occidit, occidentus telum est!
You can be the weapon, and the gun in your hand is a tool - or the gun is a weapon and you are the tool.
I was looking for a saint who was a devil of a lover,
but every girl I found was either one way or the other...
09-20-11, 10:19 AM #4
Because the successful are not taxed enough I guess...
Tax Brackets (Federal Income Tax Rates) 2000 through 2011
Who pay taxes and how much the pay:
National Taxpayers Union - Who Pays Income Taxes?
If the media was worth a damn, Obama would be called on his bravo sierra every time he opened his mouth. Why should he let facts get in the way of another political/class warfare scheme though?
Then there is the fine print in SFB's proposal:
Oh and more fine print:
The entire proposal is a tax increase on the whole country. Anything not directly targeted by a tax is going to cost more via more regulation.
Meanwhile, fishing in Russia:
"When plunder becomes a way of life for a group of men living together in society, they create for themselves in the course of time a legal system that authorizes it and a moral code that justifies it." -- Frederic Bastiat
"Certainly there is no hunting like the hunting of man and those who have hunted armed men long enough and liked it, never really care for anything else thereafter." Ernest Hemingway
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