I watched the President's speech and am surprized that anyone could take his reasoning seriously. As we all acknowledge small business is the job creater in this country.
How many small business with more than say, 10 employees wouldn't pay the owner more than 250,000 a year? So to imply that this isn't going to impact small business owners is simply incorrect.
To make the required investment in a business, manage 10 or more employees not to mention the risks involved in a small business, if they aren't making more than 250,000 a year, they are in the wrong business.
Oh one other thing to consider. The President wants to DELAY the tax increase for one year. Could the simple minded bribery for an election cycle not be more obvious?
Ask yourself this, what are the chances of the President extending those tax cuts next year if he wins the election? If you came up with anything other than ZERO I congratulate on an unspoiled, almost 'child like' ability to believe in someone.
I just saw Obama speaking about the Bush Tax Cuts
★Calliope★
2012/07/09 17:08:54
don't forget to rave!
Obama stressed TWICE that he's cut taxes on Middle America because he wanted to make sure folks understood that.
I know I goggled at that.
We are on the threshold of the largest tax on the middle class in the history of taxes and Obama is taking a victory lap on the BUSH tax cuts? Obamacare taxes are fixing to slap us all about the head and wallets. And I seem to remember his first week in office he taxed cigarettes to an outrageous level - squarely hitting the poor in their pocket. (and... say... funny how those 'poor' are welfare recipients - and we pay for those cigarettes - thereby being a tax upon ourselves - all classes whether we smoke or not).
He's patting himself on the back for a tax cut that has nothing to do with him... and everything to do with his political expediency.
He's raised taxes and under Obamacare MY personal taxes will be increased by over 3K actually closer to 4K.
Don't flap your lips and waggle your jaws at me, Obama - I know how you think, no matter how many different names you call a 'tax' it's we the people getting screwed.
Punitive taxes - on the rich - never, ever raise revenues.
And what difference does it make what you tax anyone if we can't live within the revenues? It's stupid to even discuss raising taxes unless there are austerity measures that run in tandem to tax increases.
Obama's taxes -- from
http://www.politifact.com/truth-o-meter/statements/2012/jan/1...
• Increasing the federal excise tax on tobacco. Obama signed legislation raising taxes on cigarettes and other tobacco products soon after taking office
... -
... The law went into effect in 2009.
• A 10 percent excise tax on indoor tanning services. This tax is narrowly targeted at tanning bed users, but it is still a tax. This took effect July 1, 2010.
• Increasing corporate taxes by making it more difficult for businesses to engage in activities that reduce their tax liability. This appears to refer to the closing of a half-dozen existing exemptions and credits relevant only to large international corporations.
... Obama signed the bill into law on Aug. 10, 2010.
• Imposing an annual fee on manufacturers and importers of branded drugs, based on each company’s share of the total market. While some industry-specific levies are intended to help foot the bill for regulatory processes, this one is more of a revenue raiser for the more general goals of the health care overhaul. It took effect on Jan. 1, 2011.
New Taxes -
• Increasing the hospital insurance portion of the payroll tax from 2.9 percent to 3.8 percent for couples earning more than $250,000 a year, or $200,000 for single filers. Takes effect Jan. 1, 2013.
• Applying the 3.8 percent hospital insurance tax to investment income for couples earning more than $250,000 a year, or $200,000 for single filers, for the first time. Takes effect Jan. 1, 2013.
• A 2.3 percent excise tax on manufacturers and importers of certain medical devices. This is a narrowly targeted tax, but still a tax (and will likely be reflected in consumer prices once it begins). Takes effect Jan. 1, 2013.
• Raise the 7.5 percent adjusted gross income floor for the medical expenses deduction to 10 percent. People who would have qualified for the deduction this year would pay more. Takes effect Jan. 1, 2013.
• Annual fee levied on health insurance providers, based on each company’s share of the total market. Same logic as the levy on branded drug companies cited above. Takes effect Jan. 1, 2013.
• Limiting the amount taxpayers can deposit in flexible spending accounts to $2,500 a year. While the Obama camp says this provision is intended in part to stop abuse of the system, our experts consider it a tax because it increases taxable income. Takes effect Jan. 1, 2013
• Eliminating the corporate deduction for prescription expenses for retirees. According to the Society for Human Resource Management, certain employers were not only "qualified to receive a subsidy equal to 28 percent of covered prescription drug costs for their retirees," but the employer also was entitled to an income tax deduction for the subsidy. The idea behind providing both a subsidy and a tax deduction was to reduce taxpayer costs for the Medicare drug plan by encouraging companies pay their retirees’ costs, but the way it was structured was criticized by some as double-dipping. No matter the justification, our experts agreed it was still a tax hike. It takes effect Jan. 1, 2013.
• Increasing taxes on health insurance companies by limiting the amount of compensation paid to certain employees that they can deduct from their taxes. According to Congress’ Joint Committee on Taxation, this will be effective for compensation paid in taxable years "beginning after 2012, with respect to services performed after 2009." Once again, this is narrowly targeted at health care company executives -- not a popular group -- but it’s still a tax.
• A 40 percent excise tax on employer-provided "Cadillac" health insurance plans costing more than $10,200 for individuals and $27,500 for families. Takes effect Jan. 1, 2018.
Other new 'taxes' -
(There isn't consensus on whether these are 'taxes' - I say potato - not potAto.)
..
..
• Reduce the number of medical products taxpayers can purchase using funds they put aside in health savings accounts and flexible spending accounts.
• A mandate for individuals to buy health insurance and for employers to offer it to their workers.
Obama stressed TWICE that he's cut taxes on Middle America because he wanted to make sure folks understood that.
I know I goggled at that.
We are on the threshold of the largest tax on the middle class in the history of taxes and Obama is taking a victory lap on the BUSH tax cuts? Obamacare taxes are fixing to slap us all about the head and wallets. And I seem to remember his first week in office he taxed cigarettes to an outrageous level - squarely hitting the poor in their pocket. (and... say... funny how those 'poor' are welfare recipients - and we pay for those cigarettes - thereby being a tax upon ourselves - all classes whether we smoke or not).
He's patting himself on the back for a tax cut that has nothing to do with him... and everything to do with his political expediency.
He's raised taxes and under Obamacare MY personal taxes will be increased by over 3K actually closer to 4K.
Don't flap your lips and waggle your jaws at me, Obama - I know how you think, no matter how many different names you call a 'tax' it's we the people getting screwed.
Punitive taxes - on the rich - never, ever raise revenues.
And what difference does it make what you tax anyone if we can't live within the revenues? It's stupid to even discuss raising taxes unless there are austerity measures that run in tandem to tax increases.
Obama's taxes -- from
http://www.politifact.com/truth-o-meter/statements/2012/jan/1...
• Increasing the federal excise tax on tobacco. Obama signed legislation raising taxes on cigarettes and other tobacco products soon after taking office
... -
... The law went into effect in 2009.
• A 10 percent excise tax on indoor tanning services. This tax is narrowly targeted at tanning bed users, but it is still a tax. This took effect July 1, 2010.
• Increasing corporate taxes by making it more difficult for businesses to engage in activities that reduce their tax liability. This appears to refer to the closing of a half-dozen existing exemptions and credits relevant only to large international corporations.
... Obama signed the bill into law on Aug. 10, 2010.
• Imposing an annual fee on manufacturers and importers of branded drugs, based on each company’s share of the total market. While some industry-specific levies are intended to help foot the bill for regulatory processes, this one is more of a revenue raiser for the more general goals of the health care overhaul. It took effect on Jan. 1, 2011.
New Taxes -
• Increasing the hospital insurance portion of the payroll tax from 2.9 percent to 3.8 percent for couples earning more than $250,000 a year, or $200,000 for single filers. Takes effect Jan. 1, 2013.
• Applying the 3.8 percent hospital insurance tax to investment income for couples earning more than $250,000 a year, or $200,000 for single filers, for the first time. Takes effect Jan. 1, 2013.
• A 2.3 percent excise tax on manufacturers and importers of certain medical devices. This is a narrowly targeted tax, but still a tax (and will likely be reflected in consumer prices once it begins). Takes effect Jan. 1, 2013.
• Raise the 7.5 percent adjusted gross income floor for the medical expenses deduction to 10 percent. People who would have qualified for the deduction this year would pay more. Takes effect Jan. 1, 2013.
• Annual fee levied on health insurance providers, based on each company’s share of the total market. Same logic as the levy on branded drug companies cited above. Takes effect Jan. 1, 2013.
• Limiting the amount taxpayers can deposit in flexible spending accounts to $2,500 a year. While the Obama camp says this provision is intended in part to stop abuse of the system, our experts consider it a tax because it increases taxable income. Takes effect Jan. 1, 2013
• Eliminating the corporate deduction for prescription expenses for retirees. According to the Society for Human Resource Management, certain employers were not only "qualified to receive a subsidy equal to 28 percent of covered prescription drug costs for their retirees," but the employer also was entitled to an income tax deduction for the subsidy. The idea behind providing both a subsidy and a tax deduction was to reduce taxpayer costs for the Medicare drug plan by encouraging companies pay their retirees’ costs, but the way it was structured was criticized by some as double-dipping. No matter the justification, our experts agreed it was still a tax hike. It takes effect Jan. 1, 2013.
• Increasing taxes on health insurance companies by limiting the amount of compensation paid to certain employees that they can deduct from their taxes. According to Congress’ Joint Committee on Taxation, this will be effective for compensation paid in taxable years "beginning after 2012, with respect to services performed after 2009." Once again, this is narrowly targeted at health care company executives -- not a popular group -- but it’s still a tax.
• A 40 percent excise tax on employer-provided "Cadillac" health insurance plans costing more than $10,200 for individuals and $27,500 for families. Takes effect Jan. 1, 2018.
Other new 'taxes' -
(There isn't consensus on whether these are 'taxes' - I say potato - not potAto.)
..
..
• Reduce the number of medical products taxpayers can purchase using funds they put aside in health savings accounts and flexible spending accounts.
• A mandate for individuals to buy health insurance and for employers to offer it to their workers.
Read More: http://www.politifact.com/truth-o-meter/statements...
If it walks like a duck,quacks like a duck,then it must be a duck in other words a tax is a tax no matter what they call it!
How many small business with more than say, 10 employees wouldn't pay the owner more than 250,000 a year? So to imply that this isn't going to impact small business owners is simply incorrect.
To make the required investment in a business, manage 10 or more employees not to mention the risks involved in a small business, if they aren't making more than 250,000 a year, they are in the wrong business.
Oh one other thing to consider. The President wants to DELAY the tax increase for one year. Could the simple minded bribery for an election cycle not be more obvious?
Ask yourself this, what are the chances of the President extending those tax cuts next year if he wins the election? If you came up with anything other than ZERO I congratulate on an unspoiled, almost 'child like' ability to believe in someone.
Clinton responded, "JUST WORDS." I find myself agreeing with Clinton on this issue.
While raising taxes on the job creators, even more, it would only pay the interest for 14 days. It is a horrible suggestion that simply does nothing positive - the same as the rest of his presidency.
And offset by less hiring.
And biGod we were right too. Sometimes I hate being right when it really matters. Same way with NAFTA
We could be in trouble. With four more years of stolen elections for D's and Communist rule I do not know if we could survive it.
Bush tax cuts bad.
Obama good for extending Bush tax cuts.
Bush bad for cutting rich mans tax rate.
Obama good for extending Bush tax cuts.
What a circle jerk!
Exactly - a liberal circle jerk.
So nice to talk to you!
life in Carolina!
all in all - wish i were there...