Obama's 400 Billion Tax Cut Approved
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Obama's 400 Billion Tax Cut Approved
400 Billion in Tax Cuts, and another 400 Billion for Stimulus looks to Pass Senate:
http://www.time.com/time/politics/ar...rss-topstories
I thought Obama was going to Raise our Taxes??
http://www.time.com/time/politics/ar...rss-topstories
I thought Obama was going to Raise our Taxes??
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taking money from businesses that are successful and giving it to those that aren't is not a tax cut. its redistribution of wealth. obama is clever in his wording of " tax cuts" to try and get republicans on board. if this was really 400 billion in tax cuts there would be more than 3 republicans supporting the bill. it's harsh reality that businesses that aren't working should fail. trying to keep a business model floating on the backs of tax payers will not fix things.
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taking money from businesses that are successful and giving it to those that aren't is not a tax cut. its redistribution of wealth. obama is clever in his wording of " tax cuts" to try and get republicans on board. if this was really 400 billion in tax cuts there would be more than 3 republicans supporting the bill. it's harsh reality that businesses that aren't working should fail. trying to keep a business model floating on the backs of tax payers will not fix things.
THIS is a Tax cut that will appear on Yours and My Paycheck.
Not a check mailed out to those who Don't Work, like Bush's last Economic stimulus bill did.
This will show up on your checks. If you don't pay the taxes, the taxes can get cut and appear on your pay...
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From: Bakersfield, CA, USA
taking money from businesses that are successful and giving it to those that aren't is not a tax cut. its redistribution of wealth. obama is clever in his wording of " tax cuts" to try and get republicans on board. if this was really 400 billion in tax cuts there would be more than 3 republicans supporting the bill. it's harsh reality that businesses that aren't working should fail. trying to keep a business model floating on the backs of tax payers will not fix things.
Where is the list of the tax cuts? I've heard Hollywood gets to write off a bunch more of their production costs on new films. What else is in there?
BTW, the 'Republicans' supporting the bill are the two very liberal RINOs (Republican in Name Only) from Maine and notorious loose cannon Arlen Spector from Pennsylvania.
Nabbing 3 northeast liberals hardly makes this a bill that has bipartisan support. As the details of what got rushed through are relayed around talk radio and the internet (don't expect to get the nitty gritty from the mainstream media) there will be hell to pay for Snow, Collins, Spector and many of the Dems who support this pork.
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I think you are referring to Bush's 800 Billion Bail out package that send MY money to Citigroup and all the other Banks.
THIS is a Tax cut that will appear on Yours and My Paycheck.
Not a check mailed out to those who Don't Work, like Bush's last Economic stimulus bill did.
This will show up on your checks. If you don't pay the taxes, the taxes can get cut and appear on your pay...
THIS is a Tax cut that will appear on Yours and My Paycheck.
Not a check mailed out to those who Don't Work, like Bush's last Economic stimulus bill did.
This will show up on your checks. If you don't pay the taxes, the taxes can get cut and appear on your pay...
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From: western washington
I think you are referring to Bush's 800 Billion Bail out package that send MY money to Citigroup and all the other Banks.
THIS is a Tax cut that will appear on Yours and My Paycheck.
Not a check mailed out to those who Don't Work, like Bush's last Economic stimulus bill did.
This will show up on your checks. If you don't pay the taxes, the taxes can get cut and appear on your pay...
THIS is a Tax cut that will appear on Yours and My Paycheck.
Not a check mailed out to those who Don't Work, like Bush's last Economic stimulus bill did.
This will show up on your checks. If you don't pay the taxes, the taxes can get cut and appear on your pay...
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From: Burleson, Texas
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Obama's paycheck bonus
You might not get a raise next year. But if the economic stimulus ideas being floated are any indication, you might get more money on payday anyway.
NEW YORK (CNNMoney.com) -- For many cash-strapped workers, Barack Obama's plan to stimulate the economy could mean more take-home money in their paychecks.
While details remain unclear, the president-elect's recovery proposal is likely to include a tax cut to boost spending.
But back-of-the-envelope calculations suggest in some scenarios it could be anywhere from an extra $83 to $166 per paycheck during the first quarter of the year.
David Axelrod, a top adviser to Obama speaking Sunday on NBC's "Meet the Press," said Obama had promised a middle class tax cut and that his economic recovery package will include "a portion of a tax cut that will become part of the permanent tax cut he'll have in his upcoming budget."
http://money.cnn.com/2008/12/30/news...ion=2008123011
Again, a Way better plan than Bush's last Welfare check sent out..
You might not get a raise next year. But if the economic stimulus ideas being floated are any indication, you might get more money on payday anyway.
NEW YORK (CNNMoney.com) -- For many cash-strapped workers, Barack Obama's plan to stimulate the economy could mean more take-home money in their paychecks.
While details remain unclear, the president-elect's recovery proposal is likely to include a tax cut to boost spending.
But back-of-the-envelope calculations suggest in some scenarios it could be anywhere from an extra $83 to $166 per paycheck during the first quarter of the year.
David Axelrod, a top adviser to Obama speaking Sunday on NBC's "Meet the Press," said Obama had promised a middle class tax cut and that his economic recovery package will include "a portion of a tax cut that will become part of the permanent tax cut he'll have in his upcoming budget."
http://money.cnn.com/2008/12/30/news...ion=2008123011
Again, a Way better plan than Bush's last Welfare check sent out..
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I thought the general Conservative Theory is, you cut taxes, American's have more money in their pocket to spend, and the Tax Revenue starts Rolling in??
Is this not true any more when a Democrat does it??
The Difference is Bush cut the Taxes of the Extremely Rich, expecting it to "trickle down". That obviously didn't happen.
Obama is cutting the taxes of the Middle Class, thinking it will trickle UP.
Is this not true any more when a Democrat does it??
The Difference is Bush cut the Taxes of the Extremely Rich, expecting it to "trickle down". That obviously didn't happen.
Obama is cutting the taxes of the Middle Class, thinking it will trickle UP.
Last edited by BHibbs; Feb 7, 2009 at 01:23 PM.
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From: Blue Ridge Mountains, GA
This infernal 'economic collapse' is our Reichstag Fire. If you guys have any debts, I suggest paying them off in the coming months. Government spending ALWAYS increases the length of depressions. In 1920-1921 the government did NOTHING and the malinvestments cleared out and recovery was swift. Compare that to 1929-1942.
P.S. Whenever the economy does recover, you can count on higher taxes to pay for all of these TARPs (yes tarp 2 and 3 are coming with Obama) There is no such thing as a free lunch. It has to be paid for in the future.
P.S. Whenever the economy does recover, you can count on higher taxes to pay for all of these TARPs (yes tarp 2 and 3 are coming with Obama) There is no such thing as a free lunch. It has to be paid for in the future.
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But back-of-the-envelope calculations suggest in some scenarios it could be anywhere from an extra $83 to $166 per paycheck during the first quarter of the year.
Ok so i get paid bi-weekly so let's say that for this QUARTER i get an extra 166 per check. that's 6 x 166 = 996 dollars. after that whole quarter is up i no longer get that money. how is this a tax cut again? oh yea and i'm assuming the 83-166 dollars is before tax so it's even less than that i'd take home. Again, for one quarter. Why not lowe my tax rate from 25% to 21% and make it permanent? Now that's a tax cut. If this plan is that great why dont the democrats just take it as their own vote on it and if it works they will have 100% of the credit. They wont because they know it doesn't work. They want to bring as many republicans on board so they can spread the blame in 2 years when Obama is on his 2nd campaign. Obama comes in preaching hope and change and that he is the answer to the worlds problems yet he is clearly in over his head. He has the votes to pass anything he wants and doesn't have the nerves to do so. Face it, he knows his plans are not designed to succeed for the american workforce unless succeeding means more people depending on the government. Love or Hate Bush at least he had the b*lls to make a decision and stick with it. That's the job of the president of the united states. You have to be able to make decisions. Obama is wishing he could vote present still....
Ok so i get paid bi-weekly so let's say that for this QUARTER i get an extra 166 per check. that's 6 x 166 = 996 dollars. after that whole quarter is up i no longer get that money. how is this a tax cut again? oh yea and i'm assuming the 83-166 dollars is before tax so it's even less than that i'd take home. Again, for one quarter. Why not lowe my tax rate from 25% to 21% and make it permanent? Now that's a tax cut. If this plan is that great why dont the democrats just take it as their own vote on it and if it works they will have 100% of the credit. They wont because they know it doesn't work. They want to bring as many republicans on board so they can spread the blame in 2 years when Obama is on his 2nd campaign. Obama comes in preaching hope and change and that he is the answer to the worlds problems yet he is clearly in over his head. He has the votes to pass anything he wants and doesn't have the nerves to do so. Face it, he knows his plans are not designed to succeed for the american workforce unless succeeding means more people depending on the government. Love or Hate Bush at least he had the b*lls to make a decision and stick with it. That's the job of the president of the united states. You have to be able to make decisions. Obama is wishing he could vote present still....
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From: Ventura, California
That right there is the definition of every tax, not just select ones. Every penny you've ever paid in taxes was a redistribution of wealth, but recently it's also become a popular talking point.
That is not true, either. Exactly how do you suggest you reduce something from nothing? I suspect you meant to repeat the myth that he wants to give refunds to those that don't pay taxes, but that is completely false. Obama does not want to give tax refunds to people that don't pay taxes.
That was one of Bush's habits I was hoping we could avoid, but there aren't very many alternatives. Think of it like college students do with their student loans; borrowing against the future to improve the odds of having a future to borrow from.
That was one of Bush's habits I was hoping we could avoid, but there aren't very many alternatives. Think of it like college students do with their student loans; borrowing against the future to improve the odds of having a future to borrow from.
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From: Anaheim, Ca.
Sen. Mitch McConnell of Kentucky, the Republican leader said Republicans favor cutting the two lowest tax brackets as a way to " put money back in people's hands directly."
WASHINGTON – Senate Republicans pressed for mortgage relief as well as larger tax cuts Monday as debate opened on the emergency economic stimulus measure atop President Barack Obama's agenda. Democrats came under pressure to reduce spending in the bill.
"What we can't do is let very modest differences get in the way" of swift enactment of the legislation, Obama said as new layoffs rippled through the economy and the Commerce Department reported an unexpectedly large sixth straight drop in personal spending. He invited Democratic leaders to the White House to discuss changes in the $884 billion measure, in hopes of avoiding a party-line vote like the one last week in the House.
Republicans said their goal was to change the bill, not to block it. "Nobody that I know of is trying to keep a package from passing," said Sen. Mitch McConnell of Kentucky, the Republican leader.
"We need to fix housing first," he said, and officials said the GOP was coalescing behind a proposal to have the federal government assume some of the risk inherent in mortgages. The goal was to have banks lower the interest rate to 4 percent or 4.5 percent on 30-year fixed rate loans for many primary residences, by directing Fannie Mae and Freddie Mac to buy the mortgages.
The officials who described the emerging proposal did so on condition of anonymity, saying they were not authorized to discuss it.
McConnell also said Republicans favor cutting the two lowest tax brackets as a way to " put money back in people's hands directly." If adopted, that would reduce the tax rate from 10 percent to 5 percent for the first $8,350 in individual income for the current year, and $16,700 for couples. The tax rate would be lowered from 15 percent to 10 percent on income between $8,351 and $33,950 for individuals and between $16,001 and $67,900 for couples
"What we can't do is let very modest differences get in the way" of swift enactment of the legislation, Obama said as new layoffs rippled through the economy and the Commerce Department reported an unexpectedly large sixth straight drop in personal spending. He invited Democratic leaders to the White House to discuss changes in the $884 billion measure, in hopes of avoiding a party-line vote like the one last week in the House.
Republicans said their goal was to change the bill, not to block it. "Nobody that I know of is trying to keep a package from passing," said Sen. Mitch McConnell of Kentucky, the Republican leader.
"We need to fix housing first," he said, and officials said the GOP was coalescing behind a proposal to have the federal government assume some of the risk inherent in mortgages. The goal was to have banks lower the interest rate to 4 percent or 4.5 percent on 30-year fixed rate loans for many primary residences, by directing Fannie Mae and Freddie Mac to buy the mortgages.
The officials who described the emerging proposal did so on condition of anonymity, saying they were not authorized to discuss it.
McConnell also said Republicans favor cutting the two lowest tax brackets as a way to " put money back in people's hands directly." If adopted, that would reduce the tax rate from 10 percent to 5 percent for the first $8,350 in individual income for the current year, and $16,700 for couples. The tax rate would be lowered from 15 percent to 10 percent on income between $8,351 and $33,950 for individuals and between $16,001 and $67,900 for couples