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HatterasJack

I will end the wars, bring peace to the middle east + NOT raise taxes

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yeah, sure you will Mr. President

 

WASHINGTON - Glory and honor aside, politics is about one thing: taxes. President Obama's State of the Union predicament is an example.

 

As he prepares the speech that will summarize his first year in office - coinciding with the unveiling of his budget in early February - Obama has a problem: he has to propose more new taxes than he wants, but hasn't decided which ones to choose.

 

This is an uncomfortable - not to say politically dangerous - position for any president to be in, especially one already at risk of being labeled by many independents as just another tax-and-spend Democrat.

 

He vowed that the health care overhaul would not cost the Treasury money - indeed, that it would save money in the long run. But as he looks for ways to satisfy the left wing of his own party by increasing benefits and subsidies for coverage, it looks increasingly like the final bill will do neither, at least in its first decade.

 

So now the president is in a bind. He needs to find more revenue to pay for the health care overhaul, but he also has to assure the bond markets that we will have the discipline - and the money - to repay what we have borrowed from the world and our descendants. That is the message his new budget is supposed to convey.

 

To help pay for health care, Obama chose to back the idea of raising $150 billion with an excise tax on the value of so-called "Cadillac" health insurance plans purchased by companies or individuals.

 

Academic experts say the tax would save money by imposing greater cost consciousness; labor unions are vehemently opposed, and AFL-CIO President Rich Trumka on Monday told the president so.

 

Obama told Trumka that he would reconsider the idea. But I doubt that he will abandon it. One reason why is that he may well want to use another health care financing idea for general deficit reduction; that idea is a surtax on individual income above $500,000 and family income above $1 million.

 

The "hit the rich" tax would generate a whopping $450 billion over ten years. It's a fat budgetary piggy bank, but one you can only break once.

 

So besides the surtax, where is he going to get the revenue to start paying down the massive debt that exploded during the Bush Years?

 

The White House and its outside advisors are floating several ideas:

 

* A new tax on bank transactions, which would raise $120 billion over ten years, focused on big banks that received TARP money. The early accounts of this focus on how it would allow the Obama White House to win points for attacking the banks, but the real reason to do it is to help the budget bottom line.

 

 

* Leave the capital-gains tax rate at 15 percent, but cap the income-level of those taking it.

 

 

* Further increase Medicare payroll taxes (even beyond what is in the health care bill) for high-income individuals and families.

 

 

* A "transaction" tax on stock trades.

 

This last prospect has faded, I am told, but Obama insiders haven't stopped touting it around town. Since it would be applied to brokers - and to hedge fund transactions - it is attractive politically. It would not be a direct tax on individuals or families, but would allow Obama to go after unpopular Wall Street traders. The bank-transaction tax has the same populist appeal."

 

 

I know! cwm40.gif

 

For 2009, he got the nobel Prize for Peace! kooky.gif

 

For 2010, let's give him the Nobel Prize for Economics tongue.gif

 

his ideas are all "smoke and mirrors" anyways

 

for a guy whose past is being a community organizer and a constitutional law professor, this guy became a sheister politician faster than Tiger Woods wife can swing a 2 iron through automotive glass

 

not to disparage auto sales folks

 

but this guy is slimier than a used car salesman

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Don't rule out that pesky little tax called "VAT" if Pelosi has her way:

 

 

A new value-added tax (VAT) is "on the table" to help the U.S. address its fiscal liabilities, House Speaker Nancy Pelosi (D-Calif.) said Monday night.

 

Pelosi, appearing on PBS's "The Charlie Rose Show" asserted that "it's fair to look at" the VAT as part of an overhaul of the nation's tax code.

 

"I would say, Put everything on the table and subject it to the scrutiny that it deserves," Pelosi told Rose when asked if the VAT has any appeal to her.

 

 

More: http://thehill.com/blogs/blog-briefing-room/news/61783-pelosi-says-new-tax-is-on-the-table

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View PostJust think he was the best our 2 party system could come up with...

 

Yep the system works great.....beers.gif

 

Correction....

 

He was the best that could be sold to the masses.

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Ya know, he could take a hint from God & the churches.

 

He should force a tithe on the idiots who voted for him. Say 15%-20% of their gross salary, dependence check, whatever they use to survive, food stamps or whatever. 15%-20% right off the top to their commander in thief.

 

Force the idiots who voted for him to support him as well.

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View PostYa know, he could take a hint from God & the churches.

 

He should force a tithe on the idiots who voted for him. Say 15%-20% of their gross salary, dependence check, whatever they use to survive, food stamps or whatever. 15%-20% right off the top to their commander in thief.

 

Force the idiots who voted for him to support him as well.

 

 

commander in thief.

^^^

clapping.gifclapping.gifcwm27.gifclapping.gifclapping.gif

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