15 Tax Increases In Obama's Budget

[red states rule]

Remember how Obama ran around taking credit for "tax cuts" when income rates were left where they were for the 10 years?

Well, it seems a liberal can't pass up any opportunity to raise taxes - even after taking credit for "cutting" them

There are 15 tax increases in the new Obama budget - including tax increases Obama took credit for cutting

And of course there are new tax increases on business. These will do wonders for hiring and putting people back to work - right?

But alas, this budget is DOA in the House and libs will rant how so many people and companies are not paying their "fair share"

What hope and what change?





The White House is billing its $3.7 trillion budget as a package of cuts that will reduce the deficit by $1.1 trillion over ten years.

But at closer inspection this budget is as much about tax hikes as cuts.

In fact, the budget contains as much as $1.5 trillion in hikes over ten years, according to the Americans For Tax Reform.

Here are the 15 taxes identified by ATR:

Raising the top marginal income tax rate (at which a majority of small business profits face taxation) from 35% to 39.6%. This is a $709 billion/10 year tax hike

Raising the capital gains and dividends rate from 15% to 20%

Raising the death tax rate from 35% to 45% and lowering the death tax exemption amount from $5 million ($10 million for couples) to $3.5 million. This is a $98 billion/ten year tax hike

Capping the value of itemized deductions at the 28% bracket rate. This will effectively cut tax deductions for mortgage interest, charitable contributions, property taxes, state and local income or sales taxes, out-of-pocket medical expenses, and unreimbursed employee business expenses. A new means-tested phaseout of itemized deductions limits them even more. This is a $321 billion/ten year tax hike

New bank taxes totaling $33 billion over ten years

New international corporate tax hikes totaling $129 billion over ten years

New life insurance company taxes totaling $14 billion over ten years

Massive new taxes on energy, including LIFO repeal, Superfund, domestic energy manufacturing, and many others totaling $120 billion over ten years

Increasing unemployment payroll taxes by $15 billion over ten years

Taxing management capital gains in an investment partnership (“carried interest”) as ordinary income. This is a tax hike of $15 billion over ten years

A giveaway to the trial lawyers—not letting companies deduct the cost of punitive damages from a lawsuit settlement. This is a tax hike of $300 million over ten years

Increasing tax penalties, information reporting, and IRS information sharing. This is a ten-year tax hike of $20 billion.


Read more: http://www.businessinsider.com/tax-hikes-obama-budget-2011-2#ixzz1E11MdCfF

[Thunderknuckles]

Said it before and I'll say it again. There is no way the U.S. can fix the deficit without both tax increases and budget cuts. Realistically, that's the choice we face. The Republicans will put on a good show of force but they are going to have to agree to tax hikes somewhere after they get as close to what they want in cuts.

[darin]

"San Dimas Highschool Football Rules!" - Bill Theodore Logan and Ted S. Preston, esquire.

[country]

Maybe this should be posted under the conspiracy thread, but here goes anyway.
There are two B Obamas in the white house. {twins} One is a tax cutter, one is a tax raiser. One is anti business, one is pro business. One is a likeable, affable dufus. One a cold, arrogant politician.
Who knows from one day till the next which one will show up.

Oh, and one thing they both have in common, is neither can complete a sentence without a teleprompter.

[Thunderknuckles]

"San Dimas Highschool Football Rules!" - Bill Theodore Logan and Ted S. Preston, esquire.
:laugh:
I take it you don't agree with me :p

[gabosaurus]

Do some of you believe this country can run without money? Taxes are what makes everything run. There are certain expenditures that you have to make. But there are certain expenses that can be cut to avoid paying taxes:

**Cut the defense budget by 30 percent. Eliminate half the military bases in the U.S. and consolidate. Eliminate all weapons programs that are being maintained solely as earmarks. (I actually talked to Republicans in D.C. who agreed with me on these points)

**End American military presence in the Middle East and Afghanistan. Yes, there is a threat of terrorism, but the economic problems we face at home are far more important. All U.S. sponsored aid to countries in the Middle East must end, including Egypt, Saudi Arabia and Israel.

**Cut military pensions at the same rate that the new budget proposals cut Social Security and Medicare.

**Impose steep fines on businesses that are caught employing illegal immigrants. Do not allow the businesses to reopen until the fines are paid.

**Impose on import tax on companies that outsource their labor to other countries, then bring it back to this country.

**Legalize marijuana and tax it at the same rate as tobacco and alcohol. This would produce substantial income while cutting down police and court costs.

>>> At the same time, I am happy that the new Obama budget includes increases for education. There is no greater priority in this country. Glad that the Obama people are listening to us.

[jimnyc]

Do some of you believe this country can run without money? Taxes are what makes everything run.

Then he should have been honest on the campaign trail instead of making ridiculous promises that even most of us here knew he would break. I didn't like it when Bush 1 said he wouldn't and then did, and I don't like it now that Obama did it. You seem to think it's normal and expected - but I don't recall you doubting his PROMISES on the trail.

[Missileman]

Do some of you believe this country can run without money? Taxes are what makes everything run. There are certain expenditures that you have to make. But there are certain expenses that can be cut to avoid paying taxes:

**Cut the defense budget by 30 percent. Eliminate half the military bases in the U.S. and consolidate. Eliminate all weapons programs that are being maintained solely as earmarks. (I actually talked to Republicans in D.C. who agreed with me on these points)

**End American military presence in the Middle East and Afghanistan. Yes, there is a threat of terrorism, but the economic problems we face at home are far more important. All U.S. sponsored aid to countries in the Middle East must end, including Egypt, Saudi Arabia and Israel.

**Cut military pensions at the same rate that the new budget proposals cut Social Security and Medicare.

**Impose steep fines on businesses that are caught employing illegal immigrants. Do not allow the businesses to reopen until the fines are paid.

**Impose on import tax on companies that outsource their labor to other countries, then bring it back to this country.

**Legalize marijuana and tax it at the same rate as tobacco and alcohol. This would produce substantial income while cutting down police and court costs.

>>> At the same time, I am happy that the new Obama budget includes increases for education. There is no greater priority in this country. Glad that the Obama people are listening to us.

I know you have something against the military, but the ENTIRE goverment,i.e. ALL agencies need to take a 5-10% cut for starters, including education. If you want more bang for the buck in education, get rid of the teacher's unions.

As for military pensions, since you want to link them with SS and Medicare, you must be in favor of increasing the spending on them to stay in line with the increases in those other two programs or perhaps you prefer to fuck overonly the military retirees because of the perpetual hard on you have for them.

Here's the thing. I'll wager that the vast majority of Americans will be willing to pay more in taxes or receive less in entitlements to help get the country back on its feet...but only after DC has gotten it's shit together and cut ALL bullshit spending. They shouldn't even propose tax increases until they've cut the budget to bare bones.

[darin]

Gabby will NOT be happy until the US has the military capability of France in early WW2.

I'd love to see the every state constitution amended abolishing forced slavery (Closed-shops; were joining the union is a condition of employment) and I'd support a phase out of mandated Ponzi schemes (Social Security).

I'd love to see the government out of education except in very high-level oversight.

[Kathianne]

Gabby will NOT be happy until the US has the military capability of France in early WW2.

I'd love to see the every state constitution amended abolishing forced slavery (Closed-shops; were joining the union is a condition of employment) and I'd support a phase out of mandated Ponzi schemes (Social Security).

I'd love to see the government out of education except in very high-level oversight.

I don't think the federal government has any place in education with the exception of things like religious issues, segregation, etc.

[Little-Acorn]

Do some of you believe this country can run without money?
If we don't get taxed even higher than we already are, govt will be "without money".

The liberal-govt-addict philosophy in a nutshell. No matter how high taxes already are.


Taxes are what makes everything run.
No, people working is what makes everything run. Taxes are what slow them down.

On certain rare occasions, taxes can be used to prevent other people from slowing them down even more than the act of taxing them does... and those are worthwhile taxes.

No other taxes are.


There are certain expenditures that you have to make.
And we would, if govt didn't keep lifting the money out of our wallets.

[LuvRPgrl]

You are obviously very ill informed (ignorant) on those issues, and run on your emotions onlly


Do some of you believe this country can run without money? Taxes are what makes everything run. There are certain expenditures that you have to make. But there are certain expenses that can be cut to avoid paying taxes:

**Cut the defense budget by 30 percent. Eliminate half the military bases in the U.S. and consolidate. Eliminate all weapons programs that are being maintained solely as earmarks. (I actually talked to Republicans in D.C. who agreed with me on these points)

**End American military presence in the Middle East and Afghanistan. Yes, there is a threat of terrorism, but the economic problems we face at home are far more important.

The military should be the Number one priority of the Feds and should be the last to receive cuts. WHY is it #1? Because its the only organization that can do it.
Not to mention that there was alot of talk about how our military was stretched so thin when we won the "unwinnable" war in Iraq. So, your proposal would deplete the military to the point it couldn't have won that operation and we would have had another vietnam on our hands. You want that????

.
All U.S. sponsored aid to countries in the Middle East must end, including Egypt, Saudi Arabia and Israel. .

I will have to admit I'm ignorant on why we give aid, there might be a vallid reason, and until you can demonstrate precisely why its not any benefit to us at all, I will ignore this suggestion, as your track record indicates you dont know what you are talking about, which is probably the case on this issue also.


**Cut military pensions at the same rate that the new budget proposals cut Social Security and Medicare. .
Brilliant, hang out to dry the people who sacrafice the most, who protect our way of life the most, who put their lives at risk to protect your right to post your ideas here, those whom this country should put as the # priority of people to help, take care of, while the gov't hands out benefits to homeless drug addicts who beg for money and aren't willing to do a pity of work. We can't pay the vets enough.


**Impose steep fines on businesses that are caught employing illegal immigrants. Do not allow the businesses to reopen until the fines are paid. .
Illegals don't drain the economy, giving gov't benefits to their families does. So, don't give welfare, section 8 & food stamps to the illegals.


**Impose on import tax on companies that outsource their labor to other countries, then bring it back to this country..

This shows your real ignorance. Do study up on this topic. We have a net gain of jobs due to outsourcing. We have more people employed by other countries who outsource to us, than we have jobs outsourced to other countries.



**Legalize marijuana and tax it at the same rate as tobacco and alcohol. This would produce substantial income while cutting down police and court costs..
WOW, you actually make some sense here.


>>> At the same time, I am happy that the new Obama budget includes increases for education. There is no greater priority in this country. Glad that the Obama people are listening to us.
Education doesnt need the feds, in fact, the feds harm education. It is the local communities that know the particular needs of the kids. Plus, it shouldnt be #1 priority just because its your pet project.

[LuvRPgrl]

Said it before and I'll say it again. There is no way the U.S. can fix the deficit without both tax increases and budget cuts. Realistically, that's the choice we face. The Republicans will put on a good show of force but they are going to have to agree to tax hikes somewhere after they get as close to what they want in cuts.

CUTTING taxes increases revenues, not raising them.


Then he should have been honest on the campaign trail instead of making ridiculous promises that even most of us here knew he would break. I didn't like it when Bush 1 said he wouldn't and then did, and I don't like it now that Obama did it. You seem to think it's normal and expected - but I don't recall you doubting his PROMISES on the trail.

The difference is, Bush sr. was sincere about not wanting to raise taxes, but Obama lied through his pearly white teeth about it.
Bush raised taxes very reluctantly and only did so because he saw no other solution. It cost him the following election, the only republican president in my lifetime to not have two terms as pres.
The famous "read my lips" quote is what put the final nail in the coffin for him. So, he had to have alot of pressure to finally cave on the tax increases

[Nukeman]

>>> At the same time, I am happy that the new Obama budget includes increases for education. There is no greater priority in this country. Glad that the Obama people are listening to us.


Tell ya what dipshit, this is what more money gets you.

http://2.bp.blogspot.com/_gcA0ZuKGkI8/TKXf8nO9N0I/AAAAAAAAI7c/CmNTbbstudk/s640/Coulson-Cato-PS-Enroll-Employ-2010-s2.jpg


http://jeffreyellis.org/images/ed_cost_vs_perf.png

http://randfishkin.com/blog/wp-content/uploads/2010/11/spending-test-scores.jpg

And to think this is the ONE place YOU want to increase spending!!! UN-FREAKING believable!!!!!!! YOU really are an uneducated "smart" person aren't you!!!!!!!

[fj1200]

^Are you kidding me!!! That is the very definition of liberal success, more union jobs and Fed intervention with 0 correlation to improvements.

[stephanie]

All you people who voted for the Obama.

Do you feel like SUCKERS yet.

:laugh:

[LuvRPgrl]

I remember in high school, my calculus teacher wouldn't let us use the new electronic gizmo we had, a calculator, he insisted we do the work with a slide rule.
Why do I mention this?
I'm appalled at this generations absolute lack of education even though they "passed" and graduated high school. Basic english is not only not mastered, they are very poor at it. Math, foggit bout it.
One of the reasons is the reliance on technology. Spellcheck anyone? For example, when I go to pay for something, lets say it costs $7.28, and I give the cashier a ten dollar bill, and 30 cents in change after they have already entered $5.00 received into the register. They look puzzled, they don't know what to do. They can't do the basic math and figure out the change. Rather than trying to subtract and get the result in what should take 15 seconds, they spend five minutes trying to figure out how to change the amount they inputted into the register, or they call the manager to reset the register.
And its not their fault, its the education system, and more money doesn't solve the problem,
What I don't understand is with the decline using the "modern" teaching methods, why don't they go back to what worked.


Tell ya what dipshit, this is what more money gets you.

http://2.bp.blogspot.com/_gcA0ZuKGkI8/TKXf8nO9N0I/AAAAAAAAI7c/CmNTbbstudk/s640/Coulson-Cato-PS-Enroll-Employ-2010-s2.jpg


http://jeffreyellis.org/images/ed_cost_vs_perf.png

http://randfishkin.com/blog/wp-content/uploads/2010/11/spending-test-scores.jpg

And to think this is the ONE place YOU want to increase spending!!! UN-FREAKING believable!!!!!!! YOU really are an uneducated "smart" person aren't you!!!!!!!

[gabosaurus]

When you want to cut a budget, you start with the areas that contain the most fat. What program is more engorged than the defense department? Think of how much pork there is -- unnecessary weapons contracts, overstaffing at the Pentagon, military bases that have outlived their usefulness and only exist as local earmarks, defense contractors and advisers who draw huge paychecks as political paybacks.
The budget cuts are being felt by every sector of the American public. Which means everyone has to contribute. No one should be exempt.

Wants to know who agrees with me? Try a large majority of the incoming GOP congressmen.

http://news.yahoo.com/s/ap/20110216/ap_on_re_us/us_congress_spending

[Missileman]

When you want to cut a budget, you start with the areas that contain the most fat. What program is more engorged than the defense department? Think of how much pork there is -- unnecessary weapons contracts, overstaffing at the Pentagon, military bases that have outlived their usefulness and only exist as local earmarks, defense contractors and advisers who draw huge paychecks as political paybacks.
The budget cuts are being felt by every sector of the American public. Which means everyone has to contribute. No one should be exempt.

Wants to know who agrees with me? Try a large majority of the incoming GOP congressmen.

http://news.yahoo.com/s/ap/20110216/ap_on_re_us/us_congress_spending

With over a trillion in deficit spending proposed, the cuts need to be across the board. Taking a few hundred billion off the military budget only to turn around and dump it into the Dept of Ed accomplishes NOTHING. Obama's a political pansy. He doesn't have the fortitude to make the tough decision...he's waiting for the House to do the dirty work.

[red states rule]

When you want to cut a budget, you start with the areas that contain the most fat. What program is more engorged than the defense department? Think of how much pork there is -- unnecessary weapons contracts, overstaffing at the Pentagon, military bases that have outlived their usefulness and only exist as local earmarks, defense contractors and advisers who draw huge paychecks as political paybacks.
The budget cuts are being felt by every sector of the American public. Which means everyone has to contribute. No one should be exempt.

Wants to know who agrees with me? Try a large majority of the incoming GOP congressmen.

http://news.yahoo.com/s/ap/20110216/ap_on_re_us/us_congress_spending

Gabby, libs love to tell everyone we are in this together and we all have to share the pain

Like most libs when it comes time to belly up to the bar they go belly up

First up, here we see teachers in WI doing their jobs and taking care of the needs of the children

<object width="640" height="390"><param name="movie" value="http://www.youtube.com/v/W_AsmzQF6eU&hl=en_US&feature=player_embedded&version=3"></param><param name="allowFullScreen" value="true"></param><param name="allowScriptAccess" value="always"></param><embed src="http://www.youtube.com/v/W_AsmzQF6eU&hl=en_US&feature=player_embedded&version=3" type="application/x-shockwave-flash" allowfullscreen="true" allowScriptAccess="always" width="640" height="390"></embed></object>


and here we see liberals using the kids as political props. Hell they are potential future Dem voters. They have no idea why or what they are protesting - they are doing what they are told

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[red states rule]

All you people who voted for the Obama.

Do you feel like SUCKERS yet.

:laugh:

If they are Steph this will help!

<iframe title="YouTube video player" width="640" height="390" src="http://www.youtube.com/embed/201pgTaEseQ" frameborder="0" allowfullscreen></iframe>

[Nukeman]

Tell ya what dipshit, this is what more money gets you.

http://2.bp.blogspot.com/_gcA0ZuKGkI8/TKXf8nO9N0I/AAAAAAAAI7c/CmNTbbstudk/s640/Coulson-Cato-PS-Enroll-Employ-2010-s2.jpg


http://jeffreyellis.org/images/ed_cost_vs_perf.png

http://randfishkin.com/blog/wp-content/uploads/2010/11/spending-test-scores.jpg

And to think this is the ONE place YOU want to increase spending!!! UN-FREAKING believable!!!!!!! YOU really are an uneducated "smart" person aren't you!!!!!!!I wanted to comment on this post. I noticed the jeffreyellis.org image that poped up when I pulled this image off the web. I find it kind of funny since HE pulled it from the CATO institute and then puts these type of images up. I find ironic that it isn't his "intellectual property" !

[gabosaurus]

Ask any responsible parent what it the most important thing in their life and they will tell you it is their children. Parents want the best for their children, above all other issues. Which is why education is the No. 1 priority in this country. If you don't see this, you either aren't a parent, or you are a really poor excuse for one.

[jimnyc]

Ask any responsible parent what it the most important thing in their life and they will tell you it is their children. Parents want the best for their children, above all other issues. Which is why education is the No. 1 priority in this country. If you don't see this, you either aren't a parent, or you are a really poor excuse for one.

I am a parent and I disagree with you about priorities for our country and how we get there. That makes me a poor excuse for a parent? At least I'm not a little whore from Cali who can't think for herself.

[Nukeman]

Ask any responsible parent what it the most important thing in their life and they will tell you it is their children. Parents want the best for their children, above all other issues. Which is why education is the No. 1 priority in this country. If you don't see this, you either aren't a parent, or you are a really poor excuse for one.
Uhh actually gabs SAFETY would be slightly higher than "public education" in my book. I take my families safety very seriously and I also take my childrens education very seriously, now that being said I can augment their education with my own and help them be better productive members of society however I can only protect them at a local level not at the national level now can I!!!!:beer:

Admit it gabs this is a biased opinion of yours since after all it is where you get your money, without it you would be out of a job!!!

[fj1200]

Ask any responsible parent what it the most important thing in their life and they will tell you it is their children. Parents want the best for their children, above all other issues. Which is why education is the No. 1 priority in this country. If you don't see this, you either aren't a parent, or you are a really poor excuse for one.

That doesn't mean the Federal government needs to be involved to the extent that they are. It also seems that money and employment related to enrollment have zero correlation to educational success. So why the push for even more money/Fed involvement for education?

[Kathianne]

NM is right when he puts safety as #1 priority, without that nothing else matters.

As a parent I put my kids as my #1 priority, education was a part of that, but more important was that I was charged with helping them develop their gifts to their fullest potential. That they were given the opportunities to develop as individuals, socially, and as members of communities.

I made sure that we lived in communities with excellent public schools, though for 2 of my children private school was my choice for grammar school. Equally important was that the communities had exceptional park districts, libraries, proximity to cultural venues, and low cost sports teams that competed. We used all the available opportunities to their utmost, even excellent schools cannot 'make that happen.'

It was I that limited TV, video, computer times, the schools can't. It was I that monitored that homework was done, things were organized and signed when necessary and fees paid, on time. Again, something no teacher can do.

It was as a family that we spoke of doing for others, returning to the community in time especially.

While I chose the best schools available, I don't think my kids subsequent success had all that much to do with the schools. With the same care at home they would still have developed their talents. They still would have chosen their paths. Certainly an argument could be made that if they lived in a different area they may have been killed going back and forth somewhere or succumbed to drugs or gangs, (though both are available in any suburban school too). Which again highlights that for many areas that are attempted to be attributed to schools, it just doesn't hold water.

[stephanie]

If they are Steph this will help!

<iframe title="YouTube video player" width="640" height="390" src="http://www.youtube.com/embed/201pgTaEseQ" frameborder="0" allowfullscreen></iframe>

:laugh2:
I wish that's all it took to get him out of office.

[LuvRPgrl]

I disagree. I think freedom is the #1 priority.



NM is right when he puts safety as #1 priority, without that nothing else matters.

As a parent I put my kids as my #1 priority, education was a part of that, but more important was that I was charged with helping them develop their gifts to their fullest potential. That they were given the opportunities to develop as individuals, socially, and as members of communities.

I made sure that we lived in communities with excellent public schools, though for 2 of my children private school was my choice for grammar school. Equally important was that the communities had exceptional park districts, libraries, proximity to cultural venues, and low cost sports teams that competed. We used all the available opportunities to their utmost, even excellent schools cannot 'make that happen.'

It was I that limited TV, video, computer times, the schools can't. It was I that monitored that homework was done, things were organized and signed when necessary and fees paid, on time. Again, something no teacher can do.

It was as a family that we spoke of doing for others, returning to the community in time especially.

While I chose the best schools available, I don't think my kids subsequent success had all that much to do with the schools. With the same care at home they would still have developed their talents. They still would have chosen their paths. Certainly an argument could be made that if they lived in a different area they may have been killed going back and forth somewhere or succumbed to drugs or gangs, (though both are available in any suburban school too). Which again highlights that for many areas that are attempted to be attributed to schools, it just doesn't hold water.

[Kathianne]

I disagree. I think freedom is the #1 priority.

Without safety, there are no freedoms.

[LuvRPgrl]

Without safety, there are no freedoms.

without freedom, there is no need for safety