Obama budget seeks new spending, new taxes to boost economy, tame debt

View previous topic View next topic Go down

Obama budget seeks new spending, new taxes to boost economy, tame debt

Post  Outerlimits on Wed Mar 05, 2014 9:43 am

President Obama unveiled an ambitious $3.9 trillion budget blueprint Tuesday that seeks billions of dollars in fresh spending to boost economic growth but also pledges to tame the national debt by raising taxes on the wealthy, slashing payments to health providers and overhauling the nation's immigration laws.

http://www.washingtonpost.com/blogs/wonkblog/wp/2014/03/04/obama-budget-seeks-new-spending-new-taxes-to-boost-economy-tame-debt/?wpisrc=al_comboPEN_p

Tax more.
                          Borrow more.
                                                    Spend more.

Taxing only the rich sounds so tempting but the problem is the math just doesn't add up. There aren't enough of RICH to pay our bills.  Only 4% of households earn over $200K. How much are you going to tax them so the bottom feeders can keep on feeding?

Taking money out of the economy, so you can put it back in doesn’t stimulate.

Tax someone at $100 more, and then pump that $100 back into the economy, the net increase is ZERO.

Obama has to know this RIGHT?  Of course he does but he gets away with this nonsense by bullying and demonizing anyone who challenges him, and by suckering the lazy, fellow crooked politicians, the uneducated, the self-centered, and the self-important who leech off society.

income - Average Effective Federal Income Tax Rate

Top 1% - 23.50%
5-10% - 12.83%
10-25% - 9.70%
25-50%* - 6.98%


Income - Share of Income - Share of Federal Income Tax Paid

Top 1% - 18.70% - 35.06%
5-10% - 11.50% - 11.77%
10-25% - 22.43% - 17.36%
25-50%* - 20.63% - 11.50%

* The Middle Class

Based on income share...

The top 1% is paying about twice their fair share of Federal Income Tax (FIT).
The top 5-10% are paying their fair share of FIT.
The top 10-25% are slightly underpaying their fair share of FIT.
The top 25-50%, the middle class, are paying only about half their fair share of FIT.


The class war drum beaters know they can dupe a lot of the American public, so we will continue to hear them bleating their math deficient class war rhetoric, ad infinitum.
avatar
Outerlimits

Posts : 933
Reputation : 1
Join date : 2013-01-14

View user profile

Back to top Go down

Re: Obama budget seeks new spending, new taxes to boost economy, tame debt

Post  News Buzzard on Wed Mar 05, 2014 10:38 am

We all know that the 2015 budget is done, so what's the point? I love it when the Republicans bitch about taxes. In this great country of ours that's the equivalent of Warren Buffet crying poverty. We're only broke because we choose to be!

_________________
(Hillary) Bernie in 2016! Very Happy
avatar
News Buzzard

Posts : 3091
Reputation : 4
Join date : 2013-02-01

View user profile

Back to top Go down

Re: Obama budget seeks new spending, new taxes to boost economy, tame debt

Post  Outerlimits on Wed Mar 05, 2014 12:38 pm

The Senate Budget Committee (which is led by the Democrats) announced last week that they would NOT do a Budget for Fiscal Year 2015. The Senate has ignored Obama's Budgets for years, because they are a joke.

Like Paul Ryan said: "it's for show. He can at least say he tried to tax productive Americans into poverty."

For those who understand, No explanation is needed. For those who do not understand, no explanation is possible.

“You cannot legislate the poor into prosperity by legislating the wealthy out of prosperity. What one person receives without working for, another person must work for without receiving.  The government cannot give to anybody anything that the government does not first take from somebody else.  When half of the people get the idea that they do not have to work because the other half is going to take care of them, and when the other half gets the idea that it does no good to work because somebody else is going to get what they work for, that my dear friend, is the beginning of the end of any nation.

You cannot multiply wealth by dividing it."

- Adrian Rogers, 1931

For those who work for a living, total taxes paid equates to $.59 on the dollar for every earned.

Government takes $.59 and the suckers get to keep $.41.

I think that is reason to bitch a little.
avatar
Outerlimits

Posts : 933
Reputation : 1
Join date : 2013-01-14

View user profile

Back to top Go down

Re: Obama budget seeks new spending, new taxes to boost economy, tame debt

Post  News Buzzard on Wed Mar 05, 2014 1:00 pm

Outerlimits wrote:The Senate Budget Committee (which is led by the Democrats) announced last week that they would NOT do a Budget for Fiscal Year 2015. The Senate has ignored Obama's Budgets for years, because they are a joke.

Who are you trying to kid? Last year the Senate passed a budget and the Republicans refused to conference it with the House, in favor of a government shutdown. You must really think people are that stupid and you wonder how Obama kept the White House?   Rolling Eyes

_________________
(Hillary) Bernie in 2016! Very Happy
avatar
News Buzzard

Posts : 3091
Reputation : 4
Join date : 2013-02-01

View user profile

Back to top Go down

Re: Obama budget seeks new spending, new taxes to boost economy, tame debt

Post  WHL on Wed Mar 05, 2014 1:18 pm

Good article, Outer. Some people just don't get it. What's not to understand???
avatar
WHL
Admin

Posts : 6036
Reputation : 11
Join date : 2013-01-14

View user profile

Back to top Go down

Re: Obama budget seeks new spending, new taxes to boost economy, tame debt

Post  News Buzzard on Wed Mar 05, 2014 1:39 pm

There is already a budget blueprint in place for 2015, WHL, and it's obvious that Obama's proposal is not going anywhere.

_________________
(Hillary) Bernie in 2016! Very Happy
avatar
News Buzzard

Posts : 3091
Reputation : 4
Join date : 2013-02-01

View user profile

Back to top Go down

Re: Obama budget seeks new spending, new taxes to boost economy, tame debt

Post  WHL on Wed Mar 05, 2014 1:42 pm

That's always, true, the presidential budgets don't mean much. They just waste a lot of money printing huge volumes of something they never intend to use.
avatar
WHL
Admin

Posts : 6036
Reputation : 11
Join date : 2013-01-14

View user profile

Back to top Go down

Re: Obama budget seeks new spending, new taxes to boost economy, tame debt

Post  Sponsored content


Sponsored content


Back to top Go down

View previous topic View next topic Back to top

- Similar topics

 
Permissions in this forum:
You cannot reply to topics in this forum