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President Obama on Friday kept up the pressure on Republicans to agree to revenue increases in a deal to raise the debt ceiling, claiming 80 percent of the public supports Democrats' demand for tax increases.
"The American people are sold," Obama said. "The problem is members of Congress are dug in ideologically."
"This is not an issue of salesmanship to the American people," Obama said.
"I hope [Republicans are] not just listening to lobbyists and special interests ... I hope they're listening to the American people as well,"
Obama repeated his warning that the country is "running out of time" to avert a financial “Armageddon.”
Originally posted by Rockpuck
reply to post by ModernAcademia
Actually I agree with him..
The middle class has held the burden of indirect taxation (inflation) through this depression and the rich have only gotten richer. The reasoning for the tax breaks on the rich is that they create jobs. BUT .. they haven't. So we gave them their chance, their greed failed them, I fully support the Dems plans to punish them by raising their taxes.
There are a lot of things the Republicans could choose to defend.. but defending 4% of the voting base is simply stupid.
Originally posted by The Old American
Businesses are taxed on gross receipts.
/TOA
Originally posted by origamiandurbanism
If anyone earns over 250K in net income, then yes, they should at least be paying a little more in taxes. Why not have a couple different level increases? One level between 250K-500K, a larger one at 500K-1M and then another at over 1M.
Originally posted by origamiandurbanism
Originally posted by The Old American
Businesses are taxed on gross receipts.
/TOA
I'm pretty sure that's not true. And I know for a fact that Obama's tax plan back in 2008 is net income over 250K and not gross.
Another thing to keep in mind is businesses can get a lot of deductions.
If anyone earns over 250K in net income, then yes, they should at least be paying a little more in taxes. Why not have a couple different level increases? One level between 250K-500K, a larger one at 500K-1M and then another at over 1M.
Originally posted by The Old American
A simple Google search will tell you that businesses and individuals are taxed on their gross income. It becomes "net" after taxes and deductions. So to Obama and diverse others on ATS, that mom-and-pop hardware store that squeaks by every year grossing $250k are all considered rich, greedy, evil, etc. Even though they may take home about $60k.
/TOA
One problem, though, is who are the rich? According to Obama it's anyone making over $250k a year, and he doesn't differentiate between and individual and a business.
Businesses are taxed on gross receipts