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Obama will not extend Bush tax cuts to wealthy

pbrauer

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WASHINGTON — President Obama will rule out on Wednesday any compromise that would extend the Bush-era tax cuts for the wealthy beyond this year, officials said, adding a populist twist to an election-season economic package that is otherwise designed to entice support from big businesses and their Republican allies.
This is good news, I'm glad he's not bowing to the pressures of the GOP

NYT: Obama will not extend tax cuts to wealthy - Politics - The New York Times - msnbc.com
 

Renae

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Wiseone

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Class warfare at it's ugliest. More proof Obama isn't interested in getting the economy turned around. Why does he hate small business owners?
The two tax cuts that Obama would allow to end would be for those who making over 140,000 a year in income. Obama to Push Tax Break for Business Investment - WSJ.com

Thats not most small business operations. Of course since you didn't define small business or really define anything at all I guess you could be 'right' since youre so vague. Here's a news flash, small business is a meaningless term, its just a political football to be punted around so people can say they care about the little guy.
 

samsmart

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apdst

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What about tax cuts for busnesses and middle calss workers? I reckon he's going to **** them, too?
 

OscarB63

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Unfortunately, Obama defines "wealthy" as anyone who has a job.
 

Grant

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This is definitely more good news for Canada.

We have the Americans dependent on us for energy by not drilling or looking for serious alternatives, we have a much lower corporate tax rate than in the US, and now we will have many more of their leading entrepreneurs arriving because they'll be able to keep more of the money they earn than they will in the US.

The US government, with the apparent acquiescence of the people, is killing their Golden Goose and all that will remain is a carcass of what once was the leading innovative industrial nation in the world.

I like competition, but no one should want to win this way.
 

Wiseone

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I'm glad to see that partisanship and anger win out over facts again, seriously where are your sources, adspt, oscar? Just meaningless ranting is all we ever get.
 

Middleground

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Finally Obama grows a sack.
 

winston53660

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Class warfare at it's ugliest. More proof Obama isn't interested in getting the economy turned around. Why does he hate small business owners?
Wait a second here if business tax cuts are being proposed what makes you think Obama hates the small business owner?
 

tlmorg02

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I think Obama is doing the right thing. It has been repeatedly reported that the upper levels of wealth are flush with cash and not spending even under the Bush tax cuts. So the only way one can see moving the economy forward is to give the truly small businesses tax incentives and the Middle Class to retain their tax cuts of which every bit counts in this economy.
 

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I think Obama is doing the right thing. It has been repeatedly reported that the upper levels of wealth are flush with cash and not spending even under the Bush tax cuts. So the only way one can see moving the economy forward is to give the truly small businesses tax incentives and the Middle Class to retain their tax cuts of which every bit counts in this economy.
It's their money, if they want to hold it it's none of your, or the Gov't business what they do with their wealth.
 

tlmorg02

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Oh, but it is the governments business to protect them from people coming and taking it, is it not? And why should they be given tax cuts needlessly?
 

winston53660

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It's their money, if they want to hold it it's none of your, or the Gov't business what they do with their wealth.
So it is none of Glenn Beck's business how George Soros spends his money right?
 

Wiseone

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It's their money, if they want to hold it it's none of your, or the Gov't business what they do with their wealth.
Actually it is the government's business to tax, and if they have to tax, which they do, I'd like to think there was some method behind the madness and that they would consider the implications of that tax to both the people being taxed and the economy, budget, etc as a whole. I won't always agree but at least there's some kind of reasoning behind it.
 

VanceMack

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What is the rationale behind keeping tax cuts for people making under 140k? And I thought 250k was the magic number...what happened there? This couldnt be a populist appeal...nah...
 

tlmorg02

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What is the rationale behind keeping tax cuts for people making under 140k? And I thought 250k was the magic number...what happened there? This couldnt be a populist appeal...nah...
I really do not understand why people use populist as a negative, especially in a DEMOCRACY where the representatives serve the "population."

Also, the article never says $140,000, it says:
But by proposing to extend the rates for the 98 percent of households with income below $250,000 for couples and $200,000 for individuals — and insisting that federal income tax rates in 2011 go back to their 2001 levels for income above those cutoffs — he intends to cast the issue as a choice between supporting the middle class or giving breaks to the wealthy.
 
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OscarB63

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Oh, but it is the governments business to protect them from people coming and taking it, is it not?
but it is the government that is coming and taking it, is it not?

And why should they be given tax cuts needlessly?
perhaps because they already pay more $$ in taxes than anyone else?
 

Wiseone

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Yeah! Let's punish all those "rich" people who create jobs!
Ya its just that simple, nevermind the almost 1 trillion spent in stimulus and other programs for economic recovery. Its all about 3% tax increase in a tax bracket that only affects those making over 140,000 in personal income. Thats PERSONAL income, its not corporate income. And corporate income are what corporations use to hire individuals. Do you think that if I went to work for Microsoft that I'd be hired with money from Microsoft Co, or would I receive a personal check from Bill Gates every two weeks?

Its asinine simple denial of reality and information, willful ignorance of the simplest facts like numbers and a total misunderstanding of the system we live in. Millions of people too busy clinging to their opinion like its all they have and be damned if I ever admit that I don't know all the answers as if its clear of day for me!
 

MCS117

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[sarcasm]Hey, I have a wonderful idea! Instead of taxing more to offset our deficit, why not cut spending!?[/sarcasm]

I wonder when the government is going to stop taxing people because "they make too much money."
 

Erod

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The two tax cuts that Obama would allow to end would be for those who making over 140,000 a year in income. Obama to Push Tax Break for Business Investment - WSJ.com

Thats not most small business operations. Of course since you didn't define small business or really define anything at all I guess you could be 'right' since youre so vague. Here's a news flash, small business is a meaningless term, its just a political football to be punted around so people can say they care about the little guy.
What an asinine comment. LOL. So small businesses don't exist?

Quite the entrepreneurial spirit, you are.
 

Barbbtx

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More job killing from the Obama administration. {{sigh}}

Taxing the rich is taxing capital. That hurts more than the rich, it hurts the middle-class. The wealthy create jobs, spend money on cars, vacations, restaurants, travel,etc. that benefits everyone.

Why do liberals hate the middle class?
Conservatives want everyone to prosper and that means leaving more money in the hands of everyone, including the wealthy.
 

OscarB63

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What an asinine comment. LOL. So small businesses don't exist?
If Obama and crew have their way they won't. They want their utopian society where the govt owns and controls everything so that they can ensure everything is equal and everyone has the same standard of living(except for them and their friends of course, they deserve better). Nevermind the fact that I worked my ass off to pay for my degrees or that i have voluntarily deployed to the middle east for a total of 3 years. I don't deserve any better lifestyle than some piece of **** bum who has done nothing but sit on his lazy ass and complain about how "unfair" the system is all his miserable life.
 
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winston53660

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Taxing the rich is taxing capital. That hurts more than the rich, it hurts the middle-class. The wealthy create jobs, spend money on cars, vacations, restaurants, travel,etc. that benefits everyone.
And you don't think the middle class do these things?
 
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