Obama Says Romney Wants to Raise Taxes on Middle-Class to Give Wealthy a Break: Does He?

Taxes for the wealthy are at historic lows. O wants to allow the Bush tax cuts to expire on those making over 250K bringing them back to Clinton levels (when the economy was booming), keeping the Bush tax cut in place for the middle class. It's as simple as that. The rich can afford to pay more as profits are up and the list of billionaires grows. The middle class is being decimated and shrinking, having their jobs offshored and cannot afford to pay more.

you're deeply confused.

taxes for everyone are at a historic low. that being said, the top 50% pay 100% of all income taxes.

what do you recommend? the top50% of earners pay 200%? why not 300% of al incmoe taxes?

Of course they do. They have most of the money.

Let's take your logic further... If 10 people in the US had collected all of our assets, they would be paying 100% of the income taxes. 99.99% of the rest of us would be paying nothing.

Would you be crying foul over their "unfair" tax burden, or would you finally see the real problem... disparity? The income tax claim is a sign of a problem, it just happens to be the exact opposite of what you think.

Lastly, 86% pay payroll taxes. Counting for inflation, payroll taxes has quadrupled over the last 60 years....

'disparity' is a contrived democrat political meme.

if the economy was growing at 5% and unemployment was at 4%, nobody would care because they'd all be working to better themselves.

in an environment of 8.3% unemployment (with U6 at 15%) and GDP growth reported last at 1.5%, all the democrats can do is trump up how unfair it is to be rich?

cmon...

well you are a child that doesn't understand much about math other than the GOP talking points. If all that money is at the top 1% of course they pay most of the aggtrgate taxes. Big deal. If their average rate is like RomKnees paying 13% for the year he reports and who knows how much less for the others he and his cohorts are not paying their fair share and peons like you are making up the difference.

fair share is an Obamaism that can mean whatever he wants it mean. in other words, it meaningless.

Romney's income is mostly capital gains taxed at a flat 15%. he also makes millions of charitable donations that drive his effective rate down to 13.9%.

you, OTOH, don't understand math, so i wonder why you even weigh in on a subject over your head.

We need to tax the rich on unearned income.

that drives investment. we already do. its called capital gains.

raising that rate is economically suicidal.

resale of existing stock which is where most of the capital gains (and losses) come from have absolutely no effect on investment.

i'd like to understand how you reach that conclusion...

the same way selling your used car has no effect on GDP.

used car sales aren't typically recorded as any sort of federally monitored transaction. stock transfers/sales are recorded and cap gains reported to the IRS. actually, with Obamacare kicking in, there's a 3.8% cap gains tax on the sale of a house. that'll show up, too.

we actually saw a profound effect of that when the dot com bust happened and people paid in a huge hunk of cap gains as they had to pay for and/or bail out of their stock positions.

You group those making $250,000 as the same class of earners. If you have a small business, as I do, and eek out a profit of $250,000...I can tell you it's a difficult task. It's not like we're just sitting around sipping wine living a life of luxury. No, not at all. We're scraping by making sure that we have insurance to cover any liability we cause, paying our contractors to make sure they have food on their family's tables, buying material at high prices and just barely getting by. There have been months that we paid our contractors when we didn't get a paycheck. Even though we "made" $250,000" on paper, once you start deducting the expenses and costs associated with running this business, we're losing money. Sounds crazy, I know. It's tough enough as it is, but top it off with Obamacare, we're looking for jobs and will close the doors on our business in the next few months because of this craziness. Why put it all on the line just to pay Washington more money for them to throw away or give away? I'm not against helping people in need, but funding folks too lazy to get out and work, not anymore. So, as businesses across this nation close their doors and layoff their employees, thank Obama and the democrats. They're the ones holding us hostage and not just passing the bill Congress has passed and letting us get on with our lives. If you're not walking in these shoes, hold your comments because you speak from ignorance, not real-life experiences.

Bottom line is you pay income tax on net income not what you make on "paper". If net income is over 250K what is wrong with you paying a little extra on that amount exceeding 250K? At that level you are not worried about making ends meet no matter how hard you are working. The average guy at 50K is working hard too?

When you walk in my shoes, then come back to me. Like I said, when Washington becomes more conscientious about how they spend the money, then I would consider paying more taxes, not until then. I'll take every deduction I can to lower my tax bill. Let me just ask you, when you've got an extra $100, do you think, "Hey, I got this extra money, I'll send it to the IRS to spend for me?" I thinketh not.

You need to move to Somalia and become King. You seem extremely arrogant and obnoxious. I doubt your employees worship the ground you walk in as you might think if indeed you are a small business owner at all. Who do you think pays for every deduction you take?

I propose getting rid of all the forms.

sure. anarchy? why not?

sheesh.

It's easier to get rich that way. Why do the hard work route when you can steal it from dummies.

you mean not everyone has THREE jobs yet? O my we need to eliminate taxes altogether!

Because Owebummer chased lots of businesses out of the country! Way too many taxes and regulations!

everyone got a 10% marginal rate cut. NOT just the rich. yes. the greatest benefit would be for the wealthy, but only because they pay more in.

it mystifies me how you've called the Bush cuts only for the wealthy...

Dallas you are so ignorant you don't even deserve a comment. Get a clue before you slander a whole segment of the population. I guess you'd even say it was the democtrats in the Civil War that wanted to free the slaves.

Hell…Obama just takes our money and gives it to his friends and calls it “Stimulus”. You know…why go through all that messy tax stuff when all he has to do is grab a measly trillion dollars and pass it out.

But his claim is BS just like everything else that comes out of his mouth.

taxes have nothing to do with stimulus but if you really want to pay down debt as you Pugs say you need to start raising taxes. The rich are the first place to start. They've been getting a free ride for too long now.

Raise Taxes...ugh. Typical liberal rant. So in turn I will come back with the typical Conservative rant. STOP SPENDING! Until that is done your tax hikes only hurt everyone. Watch the following and learn what your tax raises will get you.

You should have been ranting that when Dubya was in power making up imaginary wars.

Flying BinLadens family out of the States the day after 911 to escape harms way wasn't imaginary either. Bush saying it wasn't of paramount importance to get Bin Laden imaginary either. What are you talking about. O got Bin Laden, got us out of Iraq and is keeping us safe. BTW Iraq had NOTHING to do with 911. That WAS imaginary

Excuse me...where do you think the stimulus money comes from...taxpayers. You think the rich are getting a free ride. What do you think, the money falls out of the sky. Either they inherited it (which they paid taxes on the inheritance), they earned it or they risk it making investments. Do you even know what it takes to be rich?? More times than not, they went to universities and got degrees, then went to work and most likely spent hours and hours at the office, missing time with their families and other important events in their lives. Get real and realize those who are rich are rich for a reason, more than not it wasn't given to them, they EARNED IT. Why can't they keep it?

Most who aren't rich made many sacrifices also. The category you mention is corporate welfare and tax evasion which is indeed getting a free ride.

No one talks about the Stimulus money he gave to China to build bridges here in the US with their own labor force. How that is going to give us jobs is beyond my comprehension but then I am just a little old lady from Michigan.....

Remember folks ........

Democrats - "GOOD"
Republicans - "EVIL"

Can I get a nuh-huh??????

yes you are correct.

The "Bama" already raised taxes on the middle class......"Bama" has given Millions to his buddies like Solindra and Unions. they get rich the Middle class gets screwed

unions are decimated. The ones getting rich are those making money on foreign labor. O and the Dems want to reverse this but are being blocked by the Pugs.
http://www.bloomberg.com/news...
Another Bill to eliminate tax abuse rejected by Piugs
http://www.nytimes.com/2011/0...