Obama's tax increase.

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Should Obama raise income taxes

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Total Votes : 6

Obama's tax increase.

Post  Scooby01_98 on Tue Nov 16, 2010 7:04 pm

Should the tax code revert back to the previous code? Sorry $250K is not rich and should not be hit with a higher tax code than what it is currently at.

If it must change raise the taxes of those making more than $5 million but all businesses must have there tax burden lowered to around 15%
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Re: Obama's tax increase.

Post  Pez on Wed Nov 17, 2010 3:27 pm

Not sure what you mean by the codes. If you are talking about the Bush tax cuts, yes, those should expire.

After a decade of taxes being lowered on the richest americans, where are these jobs that are supposed to be created?

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Re: Obama's tax increase.

Post  Scooby01_98 on Wed Nov 17, 2010 5:48 pm

Pez wrote:Not sure what you mean by the codes. If you are talking about the Bush tax cuts, yes, those should expire.

After a decade of taxes being lowered on the richest americans, where are these jobs that are supposed to be created?

The current tax rates are the current tax codes. After 9 and 7 years that is the norm. Letting them expire changes the current tax code and Obama raises the income tax rate.

What is amazing is you say we can afford the 3 trillion dollars over the next 10 years for keeping the current tax code for under 250K, but cannot afford the 700 billion for the next 10 years for those above 250K. So lets look at this way, we can borrow 3 trillion dollars but not cut 70 billion a year out of a bloated federal gov't.

For the 2nd part of your question. Why should they continue to invest not knowing how much more Obama care is going to cost them. How much more they may have to pay for cap and trade. etc, etc.

I would also have to say from 2002 thru 2007 those tax rates worked very well, lowering the unemployment rate from 6% to under 5%. It was only after the Dems started to take over the house then the senate that investors started hanging on to there money.
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Re: Obama's tax increase.

Post  Pez on Wed Nov 17, 2010 5:57 pm

I didn't say that we can afford anything. We cant afford not to raise taxes. Cut spending and raise taxes across the board. There's no choice anymore.

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Re: Obama's tax increase.

Post  Scooby01_98 on Wed Nov 17, 2010 6:02 pm

Pez wrote:I didn't say that we can afford anything. We cant afford not to raise taxes. Cut spending and raise taxes across the board. There's no choice anymore.

So cutting spending isn't even an option?
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Re: Obama's tax increase.

Post  Pez on Thu Nov 18, 2010 7:30 am

Scooby01_98 wrote:
Pez wrote:I didn't say that we can afford anything. We cant afford not to raise taxes. Cut spending and raise taxes across the board. There's no choice anymore.

So cutting spending isn't even an option?

Sure, that's why I said cut spending Very Happy

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