The more Obama is in front of the American public during a debate, the more we see!

Prior to last nights debate, all Americans thought that Obama was only going to raise taxes on incomes over 250,000. NOT TRUE:

Capital gain taxes: Go from current 15% to 28% on everyone.
When Obama was questioned about his 28% capital gains tax, almost doubled what it is now, every American heard a tax INCREASE. Even though the commentator told Obama that it has been proven twice that LOWER capital gains tax, actually INCREASES tax revenue, he would not back down. Obama is out to get the rich wall-streeters, but forgets that average working class Americans invest in stocks for their kids college education & retirement. Also retired Americans who depend on dividend checks gets slammed, under his policy. So, while he's out to get "Warren Buffet", he is going to penalize EVERY SINGLE AMERICAN THAT INVESTS FOR COLLEGE & RETIREMENT. Obama was questioned twice about this & looked totally dumbfounded when re-questioned. Then he says, we'll see? What in the heck did that mean? "We'll see if a higher capital gains tax will increase tax revenue?" He was just told that it has been proven that lower capital gains tax increases tax revenue." This guy was not only dumbfounded, but arrogant.

Raise the cap on Social Security & Medicare taxes: IS A TAX increase: Not only will it hurt average working class Americans, but small business too. Your employer has to match your contribution, so their taxes go up along with yours. This is not an economic stimulus, it is an economic depressor.

Iraq: General Obama then goes on to say that no matter what the commanders, "on the ground" tell him in Iraq, by golly he is pulling out within 16 months of his inaguration, & dammed be the consequences. Not only that, but he makes clear that he will be the "only" one to decide where our troops are & whom to go after. This isn't all, once Obama decides on a military strike, he will also be in charge of micro-managing the strike itself. Someone please tell me, has Obama EVER been in the military of the United States? Because he sure acts like he has decades of experience.

Americans--put your EARS on!
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Last edited by Oreo; 2 Minutes Ago at 09:30 AM.

Does this mean that you support $500B annual spending deficits with their debt service and colonization of other countries?

Certainly those are tax increases, Oreo, but you're misrepresenting them when you say that they are tax increases on everyone or on the working class. An increase in the capital gains tax affects only those who have income derived from taxable capital gains. For the vast majority of Americans, the only significant capital gains they will ever see comes from the sale of a home, and that is not taxable up to a very high value.

As for raising the Social Security tax cap, let's be clear about what that means. The Social Security payroll tax is a fixed percentage on all earned income up to the cap, and I believe the current cap is $87,000.

What this means is that you pay the fixed Social Security tax percentage on ALL of your income if you make $87,000 or less, but only on PART of your income if you make more than $87,000. Raising that cap will mean that people who earn very high salaries will pay more in Social Security taxes, but nobody else will pay any more at all.

Obviously, a typical wage earner does not make more than $87,000 a year, and so this will not be a tax increase on most Americans.

I also would suggest that most wage earners who DO make more than that, are not employees of small businesses, except perhaps a small professional firm such as a law firm or doctor's office. Most small businesses can't afford to pay that kind of money to their employees.

can we please, huh?

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Obama-e fungis nati homines....

How many expensive failures do we have to endure to admit it's not our best game?

as far as the tax thing goes, get your heads around this ….. when the tax cuts expire at the end of 2010 ( which the dems are avowedly and unashamedly for, as in going gone good bye), the lower 40%of the tax payers will see brackets move that will increase their share of taxes by as much as 40%...yes you read that right, the brackets for the upper 20%, will only see a net loss of 13% more going to taxes.....chew on that for a while….

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Obama-e fungis nati homines....

Bravo, Oreo.

Yes - this is the truth about Obama's far-left agenda and makes nonsense out of any claim to be a unifier or a moderate. This is standard, regressive, old-fashioned radical left economic "policy". Finally, people are starting to talk about this.

If these lunatic ideas become reality, the economy will be slammed and a recession will turn into a depression. The damage will be incalculable, and all in the name of a far-left ideology that has no relation to reality.

Bill Clinton showed sense and moderation when he was president. he was still essentially a left-winger, but understood he had to work with moderates. Now this has been lost. Do the moderate Dems who were elected in 2006 think they were elected to return to the 1930s?

I can only hope that the far-left might, just once, actually think about what they are doing. But I fear my hope is more like wishful thinking.

All the proposed increases are chump change when compared to pre-Reagan income tax levels. Why are people so stupid as to want to service the debt on deficit spending and further devalue our currency rather than adjust tax revenue to meet expenditures? I'm a traditional fiscal conservative and can never figure out that one.

Beware of statistics.

Obviously, nobody in the lower brackets has ever paid 40% or more in income tax, and so when the Bush tax cuts expire nobody in the lower brackets is going to be paying that much, either.

So where does that 40% figure come from? Here's an illustration.

Let's say you have 1000 people. Of those, 100 pay 0 taxes. 500 pay $10 each. 400 pay $50 each. And 100 pay $100 each.

Under this scheme, there is a total amount paid in taxes by those 1000 people of $5,000 + $20,000 + $10,000 = $35,000.

The lowest 100 pay 0% of these taxes. The next tier of 500 people pay 14%. The 400 people who pay $50 each pay 57%. And the top tier pay 29%.

Oh, my! Does that mean the mid-level taxpayers are taxed more than the richest ones? How unfair is that!

Well, no. It means, actually that there are MORE of the mid-level taxpayers and so their total, aggregate tax amount ends up being more than what the rich guys are paying. Individually, the rich guys are still taxed twice as much.

This kind of thing is why it's important to look at the details, and not just react to incomplete figures.

The title is incorrect.....not all Americans will pay more...those that get tax welfare (a.k.a. - people who pay no taxes but yet still get a healthy "refund") will still get free money.
As usual the middle class will get hit the worst..as stated above.

As usual for an internet discussion forum, it's been decisively proven that the middle class WON'T get hit the worst -- and someone ignores that. There's always at least one.

uhm please read my message again...no offense Tiberius, but we have had tons of discussion taxes etc here...I understand completely where you are coming from, and have made use of the same analogy myself to explain to others.....

my post said- the lower 40% OF taxpayers.......tax BRACKETS moving and/or being eliminated ( ala the 10% bracket), their burden will move straight away to 15% or higher, 50% of the child tax credit goes whoosh, the marriage penalty returns etc etc…

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Obama-e fungis nati homines....

Our politicians have shown no sign of fiscal conservatism so the cut spending rhetoric is a joke. You support extraordinary military expenses, the social net can't be eliminated without risk of civil disorder, the economy isn't going to turn around in the near future and even with increased taxes we'd be nowhere near former tax levels (which were our most propserous decades). What do you propose to eliminate spending deficits?

I can't help if you don't understand what you read.
If a multi-millionaire instead of paying $110,000 in taxes, he has to pay $126,000...and a middle-class family who pays $20,000 now has to pay $23,000 because of lost allowances - the middle class family feels that $3,000 A HELLUVA lot more than the multi-millionaire feels $15,000.

(the above numbers are in no way a representative of actual taxes paid of course)

So is any kind of spend cuts are out? is that what you are saying?
The only way to get the deficits under control is tax increase?

And the class warfair goes on......

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Fear the Government