OK, seriously, can someone in-the-know explain this 85% working familes tax cut BS?

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[ARCHIVED THREAD] - OK, seriously, can someone in-the-know explain this 85% working familes tax cut BS?

Posted: 9/4/2008 7:34:45 PM EDT

OK, I keep hearing the Dems blather about how Obama's plan will give 85% of American's "Working Families" a tax cut and they'll have lower taxes than under McCain.

And NO ONE is challenging them on this or taking them to task or explaining why it isn't true.

If I understand correctly, Obama is AGAINST making the Bush tax cuts permanent, which will mean by doing NOTHING everyone's taxes are going UP.

So how does he or his team explain how 85% of families are getting a tax cut when by default everyone's taxes are going UP by allowing the Bush tax cuts to expire?

Posted: 9/4/2008 7:36:07 PM EDT

[#1]

Um...I think they are saying 95%.

Can I explain it. It's a lie.

Posted: 9/4/2008 7:36:31 PM EDT

[#2]

He is going to RAISE taxes (if Dem's control the houses) on everyone that makes more than $70K or so.

Because people like my wife and I who both work obviously aren't a "working family" - we're just rich assholes who need to be bled more, so that he can fulfill his socialist Robin Hood fantasy.

Posted: 9/4/2008 7:38:17 PM EDT

[#3]

Obama wants to raise corporate taxes.

Corporations treat taxes as "cost of doing business" and recycle the cost to consumers.

I assume you buy goods often.

Posted: 9/4/2008 7:40:51 PM EDT

[#4]

Yeah,i think he wants to lower taxes for 95% and raise taxes for 5%.Guess what those 5 percent will surly figure out how to get around that.My thought is that we will have less money going to the .gov,and be even poorer as a country,he is clueless.

Posted: 9/4/2008 7:42:10 PM EDT

[#5]

As I understand it, McCain wants to lower everyone's taxes. The more you pay, the more you save. The richest people get the highest dollar amount cuts. I think that this is great, in that the people who are employing everyone else should get a bigger tax cut, thus freeing up money for higher wages, increased benefits, etc.

Obama, on the other hand, wants to cut the taxes for everyone except the wealthy, who he wants to tax MORE in order to make up for the lost revenue from cutting poor people's taxes. Of course, IMO, this most likely will have the opposite effect of McCain's tax cuts as now the rich people will cut back on expanding their businesses, etc.

So, I think it's technically correct that Obama wants to lower the taxes on MOST people, while McCain wants to lower the taxes on ALL people.

Posted: 9/4/2008 7:45:31 PM EDT

[#6]

Quoted:
He is going to RAISE taxes (if Dem's control the houses) on everyone that makes more than $70K or so.

Because people like my wife and I who both work obviously aren't a "working family" - we're just rich assholes who need to be bled more, so that he can fulfill his socialist Robin Hood fantasy.

You make over 70k?

You should buy my yearly memberships. It is only fair.

Posted: 9/4/2008 7:47:09 PM EDT

[#7]

Quoted:

Quoted:
He is going to RAISE taxes (if Dem's control the houses) on everyone that makes more than $70K or so.

Because people like my wife and I who both work obviously aren't a "working family" - we're just rich assholes who need to be bled more, so that he can fulfill his socialist Robin Hood fantasy.

You make over 70k?

You should buy my yearly memberships. It is only fair.

Ouch.

Come over and clean my gutters every year, and I will!

Posted: 9/4/2008 7:52:43 PM EDT

[#8]

Quoted:
He is going to RAISE taxes (if Dem's control the houses) on everyone that makes more than $70K or so.

Because people like my wife and I who both work obviously aren't a "working family" - we're just rich assholes who need to be bled more, so that he can fulfill his socialist Robin Hood fantasy.

Ummm.....you could just send your extra $$ to me. However much $$ it takes to bump you down to the lower bracket. I wouldn't make this sacrifice for just anyone; but for you, I'll do it gladly. Like McCain said, it's all about helping your fellow human beings out when they're in trouble...

Posted: 9/4/2008 7:52:59 PM EDT

[#9]

40% pay ZERO fed income tax now. Obama's tax cuts are actually refundable, which means they will get a check. If someone pays $100 in fed income tax and then all the refundable tax cuts add up to $2100, then that person will not only not pay income taxes, they will get a check for $2000.

It is nothing short of a huge welfare system. USA today had a big article on it a few weeks ago.

Posted: 9/4/2008 7:53:12 PM EDT

[#10]

He's going to raise corporate taxes, payroll tax, social security with holdings, etc, etc, etc...

All these will be passed down from the various companies to the consumer, which ultimately is a TAX INCREASE on everyone.

Posted: 9/4/2008 7:53:29 PM EDT

[#11]

Wealth redistribution.

Posted: 9/4/2008 7:53:50 PM EDT

[#12]

The Dems have raised taxes on the rich several times in the past, at least that's what they said, but every single time the Dems raised taxes on the rich they also raised taxes on the middle class! Obama and his friends are lying out their arse!

Posted: 9/4/2008 7:55:11 PM EDT

[#13]

Does anyone remember when Clinton cut the middle class's taxes..........yeah neither do i. I think it's safe to say that Obama will do the same thing.

Posted: 9/4/2008 7:55:45 PM EDT

[#14]

Quoted:
Um...I think they are saying 95%.

Can I explain it. It's a lie.

Yes, it's simply a lie. He will raise a number of taxes all of us pay, and he will have a net tax increase for ALL Americans. Just a typical smoke and mirrors, tax and spend liberal. Same shit, different election--same idiots buying it because they are too stupid to catch on, and are blinded by their desire to get "free stuff" and have others pay for it.

Posted: 9/4/2008 8:02:22 PM EDT

[#15]

The democracy will cease to exist when you take away from those who are willing to work and give to those who would not.

Thomas Jefferson

Posted: 9/4/2008 8:09:44 PM EDT

[#16]

Quoted:
Obama wants to raise corporate taxes.

Corporations treat taxes as "cost of doing business" and recycle the cost to consumers.

I assume you buy goods often.

I should have explained that that to my girlfriend tonight...when we were discussing taxes and mccain vs obama crap.

Of course it all depends on the price elasticity of demand (measure of the sensitivity of quantity demanded to changes in price) and i assume the price elasticity of supply as well, although i know less about it, i assume it works the same way.

fancy way of saying that say for example, if yachts were taxed alot, the rich would move to other hobbies instead of paying more. depending on how much they value their yachting. the gov didn't hurt the "rich" just the "working class" people who make these boats. (true story im afraid. I think it was that brilliant clinton guy's idea, at least thats what i was told in economics class 2 years ago)

Posted: 9/4/2008 8:17:18 PM EDT

[#17]

It is a lie. I bet very few people will see a net tax cut under Obama. One tax goes down, and two go up.

The biggest tax that he isn't mentioning is the one that will pay for universal healthcare. When the .gov forces you to buy a premium you can consider that a tax! There's going to be a lot of poor people pushed further into poverty because they can't afford the healthcare.

Think about the young, single Americans making $8/HR who don't feel they need health insurance. Under Obama's plan they will make $7/HR after paying for a premium they most likely don't need.

Nothing is free in this world.

Posted: 9/4/2008 8:20:23 PM EDT

[#18]

That means that the top 5% of people who employ everyone else will have to fire 50% of working Americans who will in turn pay no taxes.

ETA-Then the 50% of working people who got fired will not be able to buy the 5% peoples product and 5% people will go out of business and the remaining 50% people will lose their jobs.

Posted: 9/4/2008 8:52:20 PM EDT

[#19]

Quoted:
OK, I keep hearing the Dems blather about how Obama's plan will give 85% of American's "Working Families" a tax cut and they'll have lower taxes than under McCain.

And NO ONE is challenging them on this or taking them to task or explaining why it isn't true.

Because "they" don't care. They want Obama to win, period. And the average American (especially the average weak-minded sod who believes in Socialism and votes Democratic) is just too stupid to follow what's going on.

Obama says, "I'll tax the rich and give the money to you!", and that's enough. When the average leftists taxes go up, they'll shrug and say, "Oh, well, that's what happens". And they'll keep voting Democrat for their free handouts and their union jobs and because the news tells them to.

Posted: 9/4/2008 8:56:28 PM EDT

[#20]

Quoted:
Yeah,i think he wants to lower taxes for 95% and raise taxes for 5%.

That'll never happen.

It's a popular fallacy that you can tax the hell out of "the rich" and get enough scratch to run the country and leave the middle class alone. Reader's Digest did a bit on this maybe ~15 years ago. They called "the rich" everyone over, say, $1,000,000 per year, applied the ruinous tax to all of the people in that bracket... and didn't have nearly enough money. So they kept lowering the threshold. By the time they reached a point at which taxing "the rich" could run the country, they were at something like $50K per year.

It sounds really good, and everyone likes to think that, if only the damn rich paid their fair share, I wouldn't have to pay so much. But it just ain't so, not unless we were to slash the Federal government by 95% and get it back to where it should be under the Constitution.

Posted: 9/4/2008 9:05:08 PM EDT

[#21]

"from each according to his ability, to each according to his needs"

Or Obama to the economy: "I drink your milkshake, I drink it up!"

Posted: 9/4/2008 9:07:24 PM EDT

[#22]

Quoted:

Quoted:
He is going to RAISE taxes (if Dem's control the houses) on everyone that makes more than $70K or so.

Because people like my wife and I who both work obviously aren't a "working family" - we're just rich assholes who need to be bled more, so that he can fulfill his socialist Robin Hood fantasy.

You make over 70k?

You should buy my yearly memberships. It is only fair.

Ouch.

Come over and clean my gutters every year, and I will!

aww man I shoulda seen that coming

Posted: 9/4/2008 9:08:36 PM EDT

[#23]

Quoted:
Yeah,i think he wants to lower taxes for 95% and raise taxes for 5%.Guess what those 5 percent will surly figure out how to get around that.My thought is that we will have less money going to the .gov,and be even poorer as a country,he is clueless.

Funny... the libs love the Beatles, but forget why they came over here to reside.

Let me tell you how it will be;
There's one for you, nineteen for me.
'Cause I’m the taxman,
Yeah, I’m the taxman.

Should five per cent appear too small,
Be thankful I don't take it all.
'Cause I’m the taxman,
Yeah, I’m the taxman.

(if you drive a car, car;) - I’ll tax the street;
(if you try to sit, sit;) - I’ll tax your seat;
(if you get too cold, cold;) - I’ll tax the heat;
(if you take a walk, walk;) - I'll tax your feet.

Taxman!

'Cause I’m the taxman,
Yeah, I’m the taxman.

Don't ask me what I want it for, (ah-ah, mister Wilson)
If you don't want to pay some more. (ah-ah, mister heath)
'Cause I’m the taxman,
Yeah, I’m the taxman.

Now my advice for those who die, (taxman)
Declare the pennies on your eyes. (taxman)
'Cause I’m the taxman,
Yeah, I’m the taxman.

And you're working for no one but me.

Taxman!

The libs forget - the rich can afford to move, and take their jobs and companies with them... the working class cannot.

Posted: 9/4/2008 9:12:35 PM EDT

[#24]

You can't explain it because it is BS.

My tax plan for the future is that my wife left the work force and we cut our income by 50%.

Stand by

PS you really can get by with only 1 person working.

Posted: 9/4/2008 9:13:25 PM EDT

[#25]

here's a little something

http://online.wsj.com/article/SB121910303529751345.html?mod=googlenews_wsj

Posted: 9/4/2008 9:30:53 PM EDT

[#26]

If you make more than $150,000 (or so), you are in the top 5% of income earners in America. (This is not opinion, it's fact)

But taxing them more, and the other 95% less. That's his proposition I think.

Posted: 9/4/2008 9:53:15 PM EDT

[#27]

He is simply lying, and half of America is too stupid, gullible and brainwashed to see it.

Why doesn't the media call him on it? What do you think?

[ARCHIVED THREAD] - OK, seriously, can someone in-the-know explain this 85% working familes tax cut BS?

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