Obama's Buffett tax

[piet11111]

President Barack Obama will propose a new higher tax rate for millionaires, the White House confirmed Saturday, giving his deficit-cutting proposal a populist sheen that will invigorate the Democratic base but draw swift opposition from Republicans.
He will call it the “Buffett Rule,” a nod to billionaire investor Warren Buffett, who has criticized a system that allows the rich to pay a smaller portion of their income in taxes than middle- and working-class Americans because wages are taxed at a higher rate than investment income.


http://www.politico.com/news/stories/0911/63756.html


So there is talk about taxing the rich a bit more but i doubt this is going to amount to anything or its going to be nulled by giving tax cuts to corporations.

[Ostrinski]

I agree. One can have hope, but this is going nowhere. For every little bit you tax the rich, they create enormous sums of capital.

[Rusty Shackleford]

Keep your guv'mint hands off my Sizzler!

[Le Libérer]

Its an election year. Remember when he was going to bring single payer health care to the masses?

[Dumb]

Also mentioned in the link:


The proposal is expected to include hundreds of billions of dollars in cuts to Medicare, Medicaid and defense programs, as well as a call on Congress to overhaul the Tax Code.

...since retirees are just swimming in pools of cash. :rolleyes:

[KurtFF8]

This is just more evidence that Obama is a socialist, just like Buffet

[Rusty Shackleford]

Hopefully this doesn't adversely effect Radio Margaritaville.

[Dimmu]

Obama is just trying to get the liberals and progressives to vote for him again..

As for this new law, it wont change a thing.. There are so many loopholes for the capitalists to exploit..

[Dumb]

Obama is just trying to get the liberals and progressives to vote for him again..

As for this new law, it wont change a thing.. There are so many loopholes for the capitalists to exploit..

Unfortunately, it looks like the bill is going to change quite a lot - hundreds of billions of dollars in cuts to Medicare, Social Security, and defense spending. We all know how likely defense cuts are, so those won't pass; instead, Congress will, once again, place the burden upon the working class and make our eventual (?) retirements even more of a shithole.

Damn, and I thought Medicare and Social Security were supposed to be the difference between the two parties...I never thought I'd miss the Clinton administration.

[KurtFF8]

Obama is just trying to get the liberals and progressives to vote for him again..

As for this new law, it wont change a thing.. There are so many loopholes for the capitalists to exploit..

No, it's part of a sinister plan to bring Socialism to America

[Dimmu]

Unfortunately, it looks like the bill is going to change quite a lot - hundreds of billions of dollars in cuts to Medicare, Social Security, and defense spending. We all know how likely defense cuts are, so those won't pass; instead, Congress will, once again, place the burden upon the working class and make our eventual (?) retirements even more of a shithole.

Damn, and I thought Medicare and Social Security were supposed to be the difference between the two parties...I never thought I'd miss the Clinton administration.


Oh of course. I put an emphasis on the "tax the rich" part of the law.


Its just a class-war.. Rack up the debt that then use it as an excuse to cut the programs that benefit the working class.

[Dumb]

Oh of course. I put an emphasis on the "tax the rich" part of the law.


Its just a class-war.. Rack up the debt that then use it as an excuse to cut the programs that benefit the working class.

Speaking of which:


The so-called Buffett Rule, President Obama's pending plan to raise taxes on the rich named for Warren Buffett, found an outspoken critic in Paul Ryan today, Politico reports. "Class warfare might make for good politics, but it makes for bad economics," the House Budget Committee chairman tells Fox News Sunday, warning that such a move would drag down job creation and send the economy reeling backward.

Source - http://www.newser.com/story/128820/paul-ryan-buffett-rule-amounts-to-class-warfare.html

:lol:

[Dimmu]

Speaking of which:



Source - http://www.newser.com/story/128820/paul-ryan-buffett-rule-amounts-to-class-warfare.html

:lol:

Always fun when the rightists talk about "class-warfare".. I mean its not class-warfare when Bush enacted the tax-cuts or when giant corporations pay no income tax after making huge profit etc..

But as soon as someone talks about taxing the "job-creators" he is instantly accused of "promoting a class-war".

[A Revolutionary Tool]

He couldn't have done this when he had a majority in the Senate and House...

[socialistjustin]

This new tax will not be passed, but the cuts will be. This is just a campaign stunt that will work and he will pass a large bill of cuts and say " I got shit done, but I wanted to do even more with taxes and the Republicans wouldnt let me.". Politics is fucking annoying.

[Logan]

This won't pass.

Can someone tell me America's next step? It looks as if the right wing grows stronger everyday. When will people wake up and realize the corruption?

[eric922]

Not that it makes much difference who holds the presidency, but I really think Obama is a one termer. His liberal/progressive base is pretty much disgusted with him, they were expecting an FDR and instead got someone to the right of Bill Clinton. Hell, even the thought of "President Perry" isn't enough to get some of them to vote for Obama. Though, I have to say the thought of Perry have control of nuclear weapons does scare me a bit, he's a hardcore Domionist, though I could still never vote for Obama, he is an enemy of the working class.

All the ones I've talked to are trying to draft Sanders or Kucinich, or are going to vote Green. Hell, some are even starting to think about socialism, because they know the Democrats aren't on their side.

[Logan]

This new tax will not be passed, but the cuts will be. This is just a campaign stunt that will work and he will pass a large bill of cuts and say " I got shit done, but I wanted to do even more with taxes and the Republicans wouldnt let me.". Politics is fucking annoying.

I agree, but what is next for America? I am 17 and can't imagine living in this country all my life :confused:

[the last donut of the night]

obviously he's the new lenin