Obama seeking 1.6 TRILLION in tax hikes. Of course no mention of spending cuts

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Posted 11/14/2012 by ~Lauren~ in NSBR Board
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Posted: 11/14/2012 9:34:24 AM
Now is when I hope that the Republican House holds firm to what they were elected to do. STOP THE INSANITY!





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Posted: 11/14/2012 9:36:31 AM
I thought Obama was elected not Romney. Isn't this what Obama said Romney would do???

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Posted: 11/14/2012 9:55:55 AM

Sad that people bought the idea that it would only affect the filthy rich


sad that people assume they know what others are thinking

I dont know anyone who thought that tax increases would only affect the filthy rich



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Posted: 11/14/2012 10:00:23 AM
Yesterday, Obama met with Union Leaders and MoveOn.org to discuss US tax policy. Today, he will meet with Business Leaders and finally on Friday he will meet with Congress.

He will then fly off to Myanmar.

The President has no intention of working on a bi-partisan manner. He is going to dictate policy and leave.

I would like to see this President roll up his shirtsleeves and work with Congress to forge a new deal for America that is equitable - but I doubt that will happen lazy-leadership is what we have had and will be forced to endure for four more years.

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Posted: 11/14/2012 10:06:22 AM
Why is he going to Myanmar ?

When there are important things to be done I see him leaving Washington...why ?


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Posted: 11/14/2012 10:13:07 AM
I am exactly 0% shocked by all of this!


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Posted: 11/14/2012 10:23:15 AM
I thought that historically, Presidents don't sit in the room to handle negotiations? Doesn't he have a budget chair and other people to manage negotiations?


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Posted: 11/14/2012 10:27:50 AM
I've done such a good job of staying out of the political discussions at twopeas, but really....

yeah, a visit to Myanmar IS important. And the POTUS - any POTUS - has to multitask. Go figure.

The visit is really about CHINA and it's growing, concerning role in southeast asia. And it's important. Myanmar is a crucial ally and trade partner with China. They are building a big ole gas/oil pipeline from Myanmar into China.

I mean I guess it's not like a destabilized Southeast Asia with a heavy communist influence has every caused us any problems before, right?

I'm glad there are smart people willing to see the big picture leading our country. The idea that this is just some fun, cool trip because the president wants to be first at something and likes to travel is ludicrous.


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Posted: 11/14/2012 10:32:12 AM


When there are important things to be done I see him leaving Washington...why ?

Because then he doesn't have to blamed for doing anything and can place the blame on other people. You know. Like hes done since he took office.


ITA He has never wanted to work with Republicans.

I agree that he doesn't want to work with Republicans. He wants to do what he wants to do regardless of everything that stands in his way.
But in all honesty, I don't think Republicans really want to work with him, either.



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Posted: 11/14/2012 10:41:41 AM
+1 Nightowlscrapper

It's about priorities - not delegation.

This President doesn't like to get involved in the details. Case in point, embassy attack in Benghazi followed by a campaign trip to Las Vegas.

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Posted: 11/14/2012 10:42:52 AM
tax increases AND spending cuts

You're half right as ususal Lauren. You must spend a lot of time watching Fox news so now you're doing what they do all the time. Cherry picking the facts to suit your point of view.

The link above talks about the increase in revenue over 10 years and gosh darn guess what....spending cuts.

But I'm sure the ones who are always looking for something to hold against the President will find a way to discount the comments made by Jay Carney.


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Posted: 11/14/2012 10:45:10 AM
^^^Can't count on anything Jay Carney says today because the narrative will change tomorrow.

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Posted: 11/14/2012 10:47:33 AM
Try reading more than just FOX News for your information.

The proposal also includes $580 billion in adjustments to health and entitlement programs, including $248 billion to Medicare and $72 billion to Medicaid. Administration officials said that the Medicare cuts would not come from an increase in the Medicare eligibility age.
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Posted: 11/14/2012 10:48:54 AM

I'm glad there are smart people willing to see the big picture leading our country. The idea that this is just some fun, cool trip because the president wants to be first at something and likes to travel is ludicrous.

The idea that the fiscal cliff is not a really huge deal that should be handled as soon as possible with very focused attention and priority from all parties is also ludicrous


And who said THAT? No one.

I get it - this president can never, ever, ever do anything the right way in the eyes of some crazy partisans.

Didn't you hate when some people were like that about Bush? I did. The man couldn't wake up without offending someone.



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Posted: 11/14/2012 10:48:59 AM
So much for all those Republicans who "claimed" they wanted to lower the deficit. Do you really think it's going to get there on tax cuts alone?
I know as a Democrat I didn't, and the President never promised that.

Have you also watched the news were it says some Republican's (Like Mitch McConnel) won't agree to anything because they're afraid for their reelection which is TWO years from now?

and unless I am mistaken, the President is looking for 1.6 Trillion in CUTS, not just tax cuts, get the facts straight, before trying to start mass hysteria..

Congress'es approval rating is 13%, the President's approval rating is at least 53%, so guess which one is currently holding all the chips.


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Posted: 11/14/2012 11:06:04 AM
1.6 Trillion in revenue, not cuts, according to Krazy's link.


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Posted: 11/14/2012 11:09:01 AM
Since the house is in recess during his trip I don't see that a whole lot would have been done if he stayed home.




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Posted: 11/14/2012 11:11:56 AM

Since the house is in recess during his trip I don't see that a whole lot would have been done if he stayed home.
Very good point!




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Posted: 11/14/2012 11:18:38 AM

Since the house is in recess during his trip I don't see that a whole lot would have been done if he stayed home.

Very good point!




Yes, it is an excellent point!

Congress and the President should have been working to avoid the "sequestration cuts" since August. They have had since August to work this out. They should not recess and the President should remain stateside and they should *all* the work of the people.

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Posted: 11/14/2012 11:33:31 AM

^^^Can't count on anything Jay Carney says today because the narrative will change tomorrow


I knew it! You guys never disappoint!.

I'm worried about you MeGop! The link clearly states they have already cut $1.7trillion and talking about another $2 trillion in cuts instead of $4 trillion. That is cutting spending right? It may not be what YOU want but it is spending cuts.

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Posted: 11/14/2012 11:36:11 AM

yeah, a visit to Myanmar IS important. And the POTUS - any POTUS - has to multitask. Go figure.

The visit is really about CHINA and it's growing, concerning role in southeast asia. And it's important. Myanmar is a crucial ally and trade partner with China. They are building a big ole gas/oil pipeline from Myanmar into China.


I agree.
for those bitching about him flying off to Myanmar, you do realize that American owned companies are operating and sending American workers to this region to work, do you not? You do realize that these American owned companies are stimulating the American economy with this activity, do you not?

I hope that you don't live in enough of a bubble that you aren't cognizant about American business interests and trade relations in foreign countries and how they positively affect private industry.
(Edited for clarity)


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Posted: 11/14/2012 11:44:59 AM
1. It's going to be a long four years for some of you.

2. If you woke up the day after the election surprised that Romney lost, you might want to reconsider from whence you get your news. Facts matter. If you are getting those facts twisted in a way that is designed to enflame you or lead you to believe things that simply aren't true, you might just want to change the channel.

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Posted: 11/14/2012 11:45:14 AM
The link above says $1.6 Trillion in tax revenue - that's a tax hike, even if what you're doing is cutting deductions. You're raising the amount people pay.

It also says:

Less heartening, Mr. Carney also cited an overall goal of reducing the deficit by $4 trillion, the same cut achieved in the Simpson-Bowles plan.


It doesn't say how they plan to reach that goal or even if they've started identifying those items. So those of you that say it includes spending cuts are just inserting your own words into the article. Nowhere does it actually say spending cuts are planned (although it is inferred) or what they might be.

There's really nothing of substance in this entire article.

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Posted: 11/14/2012 11:47:55 AM
PS - as a Republican, I do usually agree with Lauren on political posts. However, I do NOT want the Republicans to stick to their guns. I want them to compromise. Allow at least $1 Trillion in tax cuts / hikes but also have the Democrats compromise and allow the $2 Trillion in spending cuts.

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Posted: 11/14/2012 11:54:22 AM
It's like fucking groundhog day up in here.

Obama sucks! No he doesn't! Yes he does! No he doesn't!

Romney sucks! No he doesn't! Yes he does! No he doesn't!

YOUR guy did this!

Well, YOUR guy did this!

Blah, blah, blah, blah, blah.

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Posted: 11/14/2012 11:56:16 AM
The Republicans just don't want to raise taxes. Period. The report finds absolutely no correlation between the top tax rates and economic growth, thereby destroying a key tenet of conservative economic theory?

Here's the Forbe's article about it and some links within to the report.

Linky to Forbes article

Yes, the Myanmar trip is Nov 17-20 and Congress will be in recess Nov 17-26.


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Posted: 11/14/2012 12:06:34 PM
I will go on record with a compromise too. But we need to cut spending.

Increasing taxes is going to happen but that alone will not even come close to chipping away at the deficit.

The fear of course is that the increase in tax will reduce the desire of those who have capital to put it back into the economy to create jobs putting the brakes on any kind of meaningful recovery.

The one thing I found interesting is that in meeting with labor leaders Obama did not try to get them to work with industry. These are the comments that came from the meeting-


"It was a very, very positive meeting," said AFL-CIO President Richard Trumka. "We're very committed to making sure that the middle class and workers don't end up paying the tab for a party that we didn't get to go to, and the president is committed to that as well."

"The president was really standing firm on taxes," said Neera Tanden, president of the Center for American Progress. "Everyone in the room talked about how much they have the president's back in this fight."

AFSCME president Lee Saunders, who attended the meeting, said his members are prepared to devote as much energy to pressuring Republicans to reach a balanced debt deal as they put into the campaign season.


Doesn't sound like the kind of talk where you try to seek middle ground.



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Posted: 11/14/2012 12:22:21 PM

The link above says $1.6 Trillion in tax revenue - that's a tax hike, even if what you're doing is cutting deductions. You're raising the amount people pay.

It also says:
Less heartening, Mr. Carney also cited an overall goal of reducing the deficit by $4 trillion, the same cut achieved in the Simpson-Bowles plan.


It doesn't say how they plan to reach that goal or even if they've started identifying those items. So those of you that say it includes spending cuts are just inserting your own words into the article. Nowhere does it actually say spending cuts are planned (although it is inferred) or what they might be.




Thank you. I should have clarified further.

Krazy, No need for concern. And quite frankly, you make quite an assumption as to what I would and would not agree with as far as cuts.


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Posted: 11/14/2012 12:23:42 PM

"It was a very, very positive meeting," said AFL-CIO President Richard Trumka. "We're very committed to making sure that the middle class and workers don't end up paying the tab for a party that we didn't get to go to, and the president is committed to that as well."

"The president was really standing firm on taxes," said Neera Tanden, president of the Center for American Progress. "Everyone in the room talked about how much they have the president's back in this fight."

AFSCME president Lee Saunders, who attended the meeting, said his members are prepared to devote as much energy to pressuring Republicans to reach a balanced debt deal as they put into the campaign season.


I don't have a single problem with this, that is the platform the President was re-elected on.


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Posted: 11/14/2012 12:25:21 PM

I didn't think the press conference started until 1:30 p.m. EST. It's only 1:27 p.m. here.

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Posted: 11/14/2012 12:29:39 PM

The proposal also includes $580 billion in adjustments to health and entitlement programs, including $248 billion to Medicare and $72 billion to Medicaid. Administration officials said that the Medicare cuts would not come from an increase in the Medicare eligibility age.

Senior administration officials who briefed reporters on some of the details of Mr. Obama’s proposal said that the plan also counts a savings of $1.1 trillion from the ending of the American combat mission in Iraq and the withdrawal of American troops from Afghanistan.



+70% of the tax cuts are from ending the combat mission. That had been the goal for many from both sides for years. Not a new "Wow look what Obama came up with" idea.

Where are the real cuts coming from?

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Posted: 11/14/2012 12:38:00 PM
Lauren you might want to stick to your threat to stay out of political threads. You are misinformed and your title is inflammatory. But I guess, that was the purpose of this thread, right?


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Posted: 11/14/2012 12:38:42 PM
Press conference started and the first question - the Petraeus scandal

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Posted: 11/14/2012 12:40:48 PM
I don't really have an issue with tax increases and I think the Republicans should compromise here. But let's not get too excited about the President's plan. He wants to increase tax revenue by 1.6 trillion over the next 10 years. That means it will take 10 years to see all of that 1.6 trillion dollars. Not that the Fed gets 1.6 trillion per year for 10 years. This year's Federal budget is 1 trillion in deficit. This year alone. 1 trillion in a single year, not over 10 years. So some major cuts have to be on the table if there is any prayer of reaching a balanced budget to say nothing of actually paying down the national debt. Tax increases alone will not solve the financial problems of this country. And certainly tax increases on just the "rich" will not make even a dent in reducing deficits or the debt.

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Posted: 11/14/2012 1:11:59 PM
He is driving me up a wall. This pressed is a joke,as usual.

What would real leadership look like right now? I'd live to see him say "I am not going to raise taxes on any Americans. It's not the governments money, it's not your fault that we have spend like drunken whores, and I won't take your money by force. But I do expect every American who earns more than 250,000 and voted for ME to step up and have a check on my desk by Monday to cover your fair share."

Because Obama actually won the wealthiest districts in the country, so a huge number of millionaires voted for him. Ask them to pay more. Leave the rest of them alone to take care of their families, businesses and communities.

And he can talk all he wants about "giving middle class Americans certainty" that their taxes won't go up, but his policies will destroy many of their jobs so taxes will be the least of their worries.

God the stupidity is just appalling.





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Posted: 11/14/2012 1:15:44 PM

What would real leadership look like right now? I'd live to see him say "I am not going to raise taxes on any Americans. It's not the governments money, it's not your fault that we have spend like drunken whores, and I won't take your money by force. But I do expect every American who earns more than 250,000 and voted for ME to step up and have a check on my desk by Monday to cover your fair share."

Because Obama actually won the wealthiest districts in the country, so a huge number of millionaires voted for him. Ask them to pay more. Leave the rest of them alone to take care of their families, businesses and communities.

And he can talk all he wants about "giving middle class Americans certainty" that their taxes won't go up, but his policies will destroy many of their jobs so taxes will be the least of their worries.

God the stupidity is just appalling


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Posted: 11/14/2012 1:26:34 PM
NOT SUPRISED! Lots of promises always broken... He didn't get my vote

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Posted: 11/14/2012 1:33:12 PM
I half way listened to the press conference. The TV was on but I was working too. I think I heard him say numerous times in this one press conference that those people making $250,000 a year or less will not pay one dime more in taxes. This is just not correct. This year alone, I will pay more in taxes because I was not able to put as much into my Medical Reimbursement Account because I would not have been able to use any leftover money at the end of the year for OTC (without a prescription) medications. Next year, the max ANYONE can put into this account is $2,500. This affects EVERY taxpayer who uses these accounts and has medical bills over this amount. I bet he is also opposed to renewing the sales tax deduction for those of us who itemize our taxes and don't have a state income tax (or whose state income tax is lower than the sales tax deduction). Again, this is a tax increase for those of us making $250,000 or less........actually for everyone. I'm sure there are more examples of tax increases on those of us who make less than $250,000 but those are a few that I thought of immediately because I know they affect me directly.





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Posted: 11/14/2012 1:53:50 PM

Yesterday, Obama met with Union Leaders and MoveOn.org to discuss US tax policy.


Probably the scariest things I've read to date. MoveOn? Really what business do they have in the discussion at all. Union leaders don't either. They are substantially to blame the Auto industry problems. But that's beside the point.

I am more than willing to say yes. Let them have the tax increase on the top marginal rates. Prove it won't have any effect in increasing revenue so we don't have to hear about it anymore. Then get on to real reform. Such as cutting and gutting entire departments of government. I wouldn't agree to 1.6 trillion in anything until there was a promise of an immediate cut that was triple that much. Not spread out over 10 years either. The cuts need to be in the trillions and be done in the course of the next 4 years.



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Posted: 11/14/2012 2:01:33 PM

Again, this is a tax increase for those of us making $250,000 or less........actually for everyone.


No this is NOT going to affect EVERYONE, many American's can't even afford to put $2500.00 into a medical account, to begin with.


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Posted: 11/14/2012 2:01:56 PM
With less than an hour to the closing bell the DJIA is down another 125 points.

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Posted: 11/14/2012 2:15:04 PM

Again, this is a tax increase for those of us making $250,000 or less........actually for everyone.


No this is NOT going to affect EVERYONE, many American's can't even afford to put $2500.00 into a medical account, to begin with.


What was stated was


I bet he is also opposed to renewing the sales tax deduction for those of us who itemize our taxes and don't have a state income tax (or whose state income tax is lower than the sales tax deduction). Again, this is a tax increase for those of us making $250,000 or less........actually for everyone.


I took this to mean everyone in those states and nothing to do with the 2500 medical accounts.???


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Posted: 11/14/2012 2:18:31 PM

No this is NOT going to affect EVERYONE, many American's can't even afford to put $2500.00 into a medical account, to begin with.


It affects EVERY person who wants to use this regardless of how much income they make. That IS an increase on many who make $250,000 or under. Obama keeps saying that those who make $250,000 or less will not see one dime more in taxes. That is just not true. In fact, this one just might hit those who can least afford it the most.........people with lower incomes but high health care expenses.





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Posted: 11/14/2012 2:20:25 PM

Again, this is a tax increase for those of us making $250,000 or less........actually for everyone.


No this is NOT going to affect EVERYONE, many American's can't even afford to put $2500.00 into a medical account, to begin with.


What was stated was

I bet he is also opposed to renewing the sales tax deduction for those of us who itemize our taxes and don't have a state income tax (or whose state income tax is lower than the sales tax deduction). Again, this is a tax increase for those of us making $250,000 or less........actually for everyone.


I took this to mean everyone in those states and nothing to do with the 2500 medical accounts.???


Can't really tell GOP, the way it was posted.

Again, this is a tax increase for those of us making $250,000 or less........actually for everyone.

The EVERYONE part should have been more clearly explained instead of just trying to scare EVERYONE.


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Doxie Pea Mom

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Posted: 11/14/2012 2:21:32 PM

I bet he is also opposed to renewing the sales tax deduction for those of us who itemize our taxes and don't have a state income tax (or whose state income tax is lower than the sales tax deduction). Again, this is a tax increase for those of us making $250,000 or less........actually for everyone.


I took this to mean everyone in those states and nothing to do with the 2500 medical accounts.???

Yes, MeGOP. This is another tax increase for everyone in states that do not have a state income tax (or the sales tax deduction is higher than their state income tax) and they itemize deductions. This is different form the increase to many due to the $2500 limitation in the medical reimbursement accounts that will affect everyone who needs to take advantage of that tax deduction.





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eebud
Doxie Pea Mom

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Posted: 11/14/2012 2:24:33 PM


The EVERYONE part should have been more clearly explained instead of just trying to scare EVERYONE.


Which part of this was not clear that it was the people who use this regardless of their income?


Next year, the max ANYONE can put into this account is $2,500. This affects EVERY taxpayer who uses these accounts and has medical bills over this amount.


I think your bias just doesn't want to admit that Obama is not telling the truth.





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StuckOnPeas

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Posted: 11/14/2012 2:31:22 PM

I bet he is also opposed to renewing the sales tax deduction for those of us who itemize our taxes and don't have a state income tax (or whose state income tax is lower than the sales tax deduction). Again, this is a tax increase for those of us making $250,000 or less........actually for everyone.


No, since you posted "I bet" I took that as you as yet had no factual basis for that claim.


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Doxie Pea Mom

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Posted: 11/14/2012 2:35:04 PM

I bet he is also opposed to renewing the sales tax deduction for those of us who itemize our taxes and don't have a state income tax (or whose state income tax is lower than the sales tax deduction). Again, this is a tax increase for those of us making $250,000 or less........actually for everyone.


No, since you posted "I bet" I took that as you as yet had no factual basis for that claim.

Considering that he has been trying to eliminate it for a couple of years and so far, Congress has been able to get it renewed, and that so far, I am not finding anything that says it is in place for 2012, that is the reason I said "I bet". I am still looking for the facts.

The other one I brought up is already a fact? So, now are you willing to admit that Obama is not telling the truth? Probably not.





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StuckOnPeas

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Posted: 11/14/2012 2:37:59 PM

I bet he is also opposed to renewing the sales tax deduction for those of us who itemize our taxes and don't have a state income tax (or whose state income tax is lower than the sales tax deduction). Again, this is a tax increase for those of us making $250,000 or less........actually for everyone.


No, since you posted "I bet" I took that as you as yet had no factual basis for that claim.

Considering that he has been trying to eliminate it for a couple of years and so far, Congress has been able to get it renewed, and that so far, I am not finding anything that says it is in place for 2012, that is the reason I said "I bet". I am still looking for the facts.

The other one I brought up is already a fact? So, now are you willing to admit that Obama is not telling the truth? Probably not.


Since all the negotiations are still pending, I think I'll wait and see what actually happens before "I bet" on anything.


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StuckOnPeas

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Posted: 11/14/2012 3:03:30 PM

I think I heard him say numerous times in this one press conference that those people making $250,000 a year or less will not pay one dime more in taxes. This is just not correct


I agree. First tax he implemented on those making under $250K was a 65 cent tax on cigarettes. I don't smoke but many making under $250K do.

$2500 Limit on FSA.
% of medical costs deduction on taxes rose from 7.5% to 10%
FSA can not be used for Over the counter purchases.
Tax on medical devices.

All of these hit people making under the $250,000.


Dana
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