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Obama-GOP deal raises taxes on poorest earners

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posted on Dec, 9 2010 @ 12:46 PM
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Quarter of tax savings will go to richest one percent

The plan to extend Bush-era tax cuts that President Barack Obama struck with the Senate Republican leadership will result in lower taxes for wealthy and middle-class Americans but will mean a tax hike for the very poorest earners.

According to an analysis in the New York Times, the Obama-GOP deal will mean that individuals earning less than $20,000 and families earning less than $40,000 will see a small tax hike.


As part of the deal, Obama agreed to drop the Making Work Pay credit that was created as part of the stimulus package, and replace it with a lower payroll tax. That lost credit -- of $400 or $800 -- is greater than the amount low-income earners will save from the lower payroll tax, meaning, in total, they will pay more.


Please visit the link provided for the complete story.
Source: www.rawstory.com...

So much for the "hope" or "change" that Obama promised the nation (along with almost every other promise). The striking similarities in policy (both foreign and domestic) between the Bush and Obama admins are scary, to say the least. I guess the term, "George W. Obama" is perfectly fitting.

What's even crazier, is that somehow, even these lower income earners, will completely ignore the fact that we were pretty much handed a third term of GWB.

Now don't get me wrong, I don't support any income taxes what-so-ever, though I do find it a little absurd that Americans seem to have no problem with politicians looking out for their own, while basically flipping off the peasant class.

I can't believe that some people still have hope that Obama is any different than any other politician. All of these "grand" ideas that Obama promised the nation, turn out to do more harm than good. I think it's pretty safe to say that Obama's term in office has so far been a complete failure, even if you did vote for him and support his his stated goals.

Obama's health care reform turned into a boon for the insurence and medical industries. He has completely failed to shut down GITMO. Transparency is still foreign, corruption remains fluent and both wars are still raging, with no end in sight, in spite of the "renaming" of operations. Now, apparently the tax issue is once again going in favor of the top percent of elites, while very bottom is not only forgotten, but screwed. This isn;t even the half of it.

So again, what has actually gone right for Obama, or at least what has gone the way that he promised? Before people say, "Obama has to work with Congress" or anything to that affect, he shouldn't have promised it. He's not an idiot, thus I highly doubt that he thought he could get in office and do whatever he wanted. Furthermore, as a politician, it is his job to get these things done. It's actually in his job description.

Sadly, the compromises are only leaving much worse off. If he can't pass a particular policy or legislation, then he should have either left it alone or not made the type of compromise that screws us even more. It just shows either a lack of spine or an ulterior motive. One of the two, maybe both.


--airspoon




posted on Dec, 9 2010 @ 12:59 PM
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I am redfaced with anger at Obama about this capitulation and spineless act.

Yes, I see the issue...I am not stupid. Either negotiate with this, or taxes for all will roll back to clinton era taxes.

you know what...let it happen.

Dems in house will stop this. Dems in senate will stop this if they know whats good for them. Obama can go to hell for being a fightless flightless empty suit here.

Screw the republicans! Screw Obama! both are sellouts. Filibuster this, sit on it...this is what leadership does...stands against opposition.

This "deal" will NOT create jobs, it will NOT be paid for, it is NOT the will of the vast majority, it BREAKS a campaign promise core that he swore on.

There is no reason why this should go through..there is no negotiation here



posted on Dec, 9 2010 @ 01:08 PM
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What are you talking about what has he done right?

The$4.5 billion bill approved by the House 264-157 would also try to cut down on greasy foods and extra calories by giving the government power to decide what kinds of foods may be sold in vending machines and lunch lines. The bill could even limit frequent school bake sales and fundraisers that give kids extra chances to eat brownies and pizza.

The first lady said in a statement after the vote that she was “thrilled” about House passage. She called the bill “a groundbreaking piece of bipartisan legislation that will significantly improve the quality of meals that children receive at school.”


and

"Bake sales and other school sponsored fundraisers that sell unhealthy foods could be limited under the legislation, which only allows them if they are infrequent. The Agriculture Department would determine how often they could be held. Public health advocates pushed for the language, saying they are concerned about daily or weekly fundraisers that allow children to substitute junk food for a healthier meal.

The bill would increase eligibility and accessibility for school lunches by using Medicaid and census data and provide money to serve more than 20 million additional after-school meals annually in all 50 states. Most states now only serve after-school snacks."

The legislation would increase the amount of money schools are reimbursed for free lunches by 6 cents a meal, a priority for schools that say they don’t have enough money to serve the meals.

So schools that have a hard time affording school lunches can get reimbursed 6 cents. So by eating leaner (better) cuts of meat=more money the school that was having difficulty keeping up their menu will have to spend more money to eat better but they will get an additional 6 cents per meal. How the hell is that going to help them afford the food now I can see if they kept that same food requirements. It's also nice to see that they will be drawing from Medicaid..that's just ducky. And it's only going to cost us 4.5 billion...that's what they say...pretty confident it will turn out to be more than that..and please allow amnesty for the children because that wont increase classroom sizes and I'm sure if you increase classroom sizes you wont need more lunches...god the government is throwing around these billion figures like their nothing...and yes I agree with you OP Obama stinks !


Link

edit on 9-12-2010 by chrismarco because: Broken Link



posted on Dec, 9 2010 @ 01:12 PM
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Poor people don't pay taxes!!!!

Sorry, the bottom 50% of American workers pay just 3% of the federal taxes which is miniscule. And if you're in the top 50% then you aren't poor. Just because you don't have much money left over after paying your mortgage, car payment(s), cell phone bill, internet bill, etc does not mean you are poor.



posted on Dec, 9 2010 @ 01:25 PM
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reply to post by chrismarco
 


Are you not capable of making those choices for yourself? Do you really need a government to make those choices for you? What's wrong with you? Aren't you an adult? Can you not take care of yourself? A nanny state is not what we need and if history is anything to go by, we can see that they always wind up in failure, after the populations have been dragged through the tyrannical mud.

I find it appaling that some people would rather a government make choices for them, a government by the way who clearly doesn't hold their best interests to begin with. Are people really so lazy or immature that they need a government (often run by corrupt individuals) to decide for them, what they should and shouldn't do?

Wow, that kind of ideology is the very anti-thesis of Americanism, liberty and freedom. I don't know about you, but I know what's best for me and my family, better than anyone, especially a government run by elite individuals who just after more of money, labor and submission. I'm an adult, thus I can and should make my own decisions. Not one single person on this Earth was born with a special charter from our creator (whomever you believe it/him/her to be), thus each man and women has an equal right to choice, so long as that choice doesn;t inhibit anyone else's choices.

If you aren;t capable of taking care of yourself or deciding what is best for, then hire someone to do it or go to prison. However, that ignorance should not be forced upon those who can.


--airspoon



posted on Dec, 9 2010 @ 01:37 PM
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Originally posted by jjkenobi
Poor people don't pay taxes!!!!

Sorry, the bottom 50% of American workers pay just 3% of the federal taxes which is miniscule. And if you're in the top 50% then you aren't poor. Just because you don't have much money left over after paying your mortgage, car payment(s), cell phone bill, internet bill, etc does not mean you are poor.


Yep, thats the middle class. The "poor" still get cable, internet connection and cell phones, too without being raped by taxes.



posted on Dec, 9 2010 @ 01:43 PM
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reply to post by airspoon
 


Great is it now time to send the letter out to OBAMA that says :
Dear Obama,
You are a F(#^$%*) A$$HAT...
Yours Truly,
ONE PISSED OFF AMERICAN
edit on 9-12-2010 by ldyserenity because: spelling



posted on Dec, 9 2010 @ 01:56 PM
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Originally posted by jjkenobi
Poor people don't pay taxes!!!!

Sorry, the bottom 50% of American workers pay just 3% of the federal taxes which is miniscule. And if you're in the top 50% then you aren't poor. Just because you don't have much money left over after paying your mortgage, car payment(s), cell phone bill, internet bill, etc does not mean you are poor.


Yeah but it is still the same percentage of their paycheck... so If it's 6% for the middle class and 6% of the poor guys paycheck then who is left with less money? If you are making 7.25 an hour and you take home 6.82/hr after taxes and the other person makes 10/hr and takes home 9.40/hr after taxes, then who do think is getting jipped? And don't tell me they get EIC and refunds, not all of them do, students don't cause they are still claimed under their parents (regardless if they are at home or not) and single people with no children don't qualify either.
I have prepared taxes long enough to know.The only reason they only pay 3% is because they're aren't that many workers at the lowest end.
edit on 9-12-2010 by ldyserenity because: for spelling and to add stuff.



posted on Dec, 9 2010 @ 02:29 PM
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reply to post by airspoon
 


the saying let them eat their cake
has a special meaning in this case
when the top 1% forgets the bottom
society callapses

mabys obams plan all along?

xploder



posted on Dec, 9 2010 @ 02:38 PM
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In my area.. the lowest paid are the most fortunate when it comes to living. Im living in Il at the moment.. that should explain what I am meaning
The lowest paid are not taxed to death federally or by state as the middle class are here. They dont face another hike ( quinn wants a 50%) in PP tax. Our cities are taxing us to death.. we just got a "wheel tax".. if you own a car you have to buy a sticker to use the streets. You get outrageous fines if you dont display the sticker. Thats on top of the other taxes we pay to drive on the streets. Our energy is going up another 10% over the raise last year. Its a real CF here.

The "poor" here get free passes to the Y.. which I pay for. Free cell phones.. which I pay for. Energy assistance.. which I pay for. Automobile and insurance help.. which I pay for. Housing.. which I pay for. Food stamps... which I pay for. The tear down of 2 decade old housing for new updated free housing... NICE duplexes and single family homes in planned communities for the "poor".... which I pay for. Tuition assistance and local grants on top of the federal... which I pay for. Free food on top of the food stamps.. which I pay for. Free monthly unlimited use bus and metro passes.. which I pay for. Medical and free RX.. which I pay for. Clothing and cash allowances.. which I pay for. I can go on and on.. the working people here pay for everything, have nothing left, and the poor are NOT poor by any stretch of the imagination. Some work, pay little to no taxes and reap the benefits on top of a pay check. MY family is going the way of the dinosaur here due to having to pay for the chronically lazy and chronic breeders. The whole joke in Missouri is that if you want to get the best welfare.. move across the river to Illinois. Its very very very true. Add to this my federal taxes are outrageous and misappropriated.

Id LOVE to see a consumer tax.
Im not real hip on a flat tax... but lets let those that consume the most pay the most in taxes.

I guess at some point people will figure out the dirty dem libs and the nasty gop repubs are the same people doing the exact same thing and calling it something else. If anyone here thinks that a repub will do any better than a dem.. theyre not thinking. A dem has all but ruined us. Just keep buying into the same ol BS lies out of both parties and youll live how I have to live.. not by the fruits of my labor.. but by what I have left over after paying for everyone else who doesnt want to work or even attempt any kind of self sufficiency.



posted on Dec, 9 2010 @ 11:59 PM
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reply to post by jjkenobi
 


Ok, you say this:


Poor people don't pay taxes!!!!


And then, you refute your own statement by saying this:


Sorry, the bottom 50% of American workers pay just 3% of the federal taxes which is miniscule. And if you're in the top 50% then you aren't poor. Just because you don't have much money left over after paying your mortgage, car payment(s), cell phone bill, internet bill, etc does not mean you are poor.


Admitting that the poor pay taxes, now it's either or, either they pay taxes or they don't, 3% on 20,000.00 is 600.00 a year, or divide that out, it's about 12 bucks a week, well, if you are earning 20,000.00, 600.00 is a big chunk out of that, leaving you 19,400.00, minus the state and maybe local taxes, minus the taxes that everyone pays when they purchase things, minus having to live off of whatever is left.

So yea, the poor do pay taxes and it does matter.

But you know what? I won't mind paying that in taxes, doesn't bother me that much, I only make about 14k a year, but hell, I am not gonna whine about paying a little more in taxes because I know, that in the end, someone is going to have to pay. And if the rich or middle class aren't capable of sacrificing a little to get this country back on a more fiscally sound footing, then it's up to the rest of us to carry the burden.
edit on 12/10/2010 by whatukno because: (no reason given)



posted on Dec, 12 2010 @ 07:26 AM
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He meant everyone in america would be on a streetcorner with a tin cup asking for change.. But due to technical errors with his microphone all anyone heard was the word change...

edit on 12-12-2010 by Expat888 because: Gremlins



posted on Dec, 12 2010 @ 07:38 AM
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reply to post by jjkenobi
 


I would like to know what fantasy land your living in. There's a lot more construction workers, factory/assembly line workers, and blue collar office and hospital workers among other working class people than there is people in the top percentile you speak of. People who make millions pay higher taxes to be sure but the country is run off the back of the working poor.

Obama is a effing joke. He couldn't run a coffee stand let alone our country. The news coming out of DC gets worse by the minute. It's time to get these bastards out of their comfy seat in positions of power and burn congress to the ground.

How on earth can you raise taxes in the people suffering the most? The president should be ashamed of his actions and so should the entire governing body. These people are gambling with your and mine futures. They should all be ousted.



posted on Dec, 12 2010 @ 10:55 PM
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Originally posted by jjkenobi
Poor people don't pay taxes!!!!

Sorry, the bottom 50% of American workers pay just 3% of the federal taxes which is miniscule. And if you're in the top 50% then you aren't poor. Just because you don't have much money left over after paying your mortgage, car payment(s), cell phone bill, internet bill, etc does not mean you are poor.


The poor pay a tremendous amount of their income on taxes.

Buying food involves sales taxes which both the poor and rich pay at the same rate. Then there are all the corporate taxes that get passed down to the consumer level, wish the poor pay at a much higher percentage of their income on.

Income taxes aren't the only thing, it just happens to be discussed the most. The entire system is grossly unfair. Corporate taxes, in which the U.S. has the 2nd highest in the world, raises the price of goods and drives off jobs, all of which hurt the poor much more than anyone else. Sales taxes are entirely regressive, a poor person has to eat the same amount as anyone else but pays much more of their income in the sales tax tacked on to food.

Then when it comes to income taxes, the rich usually get away with paying much of it because they got the lawyers, the accountants, or whatever serving them. Think Charles Rangel of Tim Geitner who wouldn't pay their taxes unless outright caught.

And by the way, the bottom 50% may only pay 3% of federal taxes but they also only own 3% of the nation's wealth.



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