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Old 10-01-2010, 04:59 PM   #1
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Default Christmas present enormous tax increases

Obama promised an up or down vote on his 'deficit commission' recommendations, they will recommend massive tax increases.

1) let Bush tax cuts expire, in the 10% bracket, welcome to 15%

2) Cap and trade here will be the new reason for this turkey, since the MMGW meme has fallen apart

3) VAT tax this is one the libs have wanted for a long time.


All 3 will be job killers but the radical in the WH doesn't care nice thing is it will be said to be "bi-partisan" (they put a couple of RINO's on).


The goal will be to pass it during the lame duck session of congress Obama will veto any attempt to stop these taxes.

Durbin: GOP Tax Cut Stubbornness Could Cripple Obama's Fiscal Commission | TPMDC

Dems on Obama fiscal commission raise conservative hackles with talk of ‘pro-growth’ tax hikes | The Daily Caller - Breaking News, Opinion, Research, and Entertainment

Obama's 'Fiscal Commission' Has One Goal: to Raise Taxes


Currently us taxes total ~45% of GDP, this will attempt to push us to the 60%+ level.

Merry Christmas from Pelosi Reid and Obama
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Old 10-01-2010, 05:17 PM   #2
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Default Re: Christmas present enormous tax increases

Quote:
Originally Posted by patsfan13 View Post
Currently us taxes total ~45% of GDP, this will attempt to push us to the 60%+ level.
Really? Apparently I don't know how to read a graph. Perhaps you could explain it to me because it sure looks like a just a little over 30% in 2010 to me.



http://www.usgovernmentrevenue.com/d...-total&local=s

Last edited by Mrs.PatsFanInVa; 10-01-2010 at 05:19 PM..
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Old 10-01-2010, 05:41 PM   #3
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Default Re: Christmas present enormous tax increases

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Originally Posted by Mrs.PatsFanInVa View Post
Really? Apparently I don't know how to read a graph. Perhaps you could explain it to me because it sure looks like a just a little over 30% in 2010 to me.



Government Taxes and Revenue Chart in United States 1950-2015 - Federal State Local

You need to include state and local taxes also.
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Old 10-01-2010, 06:10 PM   #4
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Default Re: Christmas present enormous tax increases

The gift that keeps on taking.
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Old 10-01-2010, 08:20 PM   #5
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Default Re: Christmas present enormous tax increases

Quote:
Originally Posted by patsfan13 View Post
Obama promised an up or down vote on his 'deficit commission' recommendations, they will recommend massive tax increases.

1) let Bush tax cuts expire, in the 10% bracket, welcome to 15%

http://www.ontheissues.org/2008/barack_obama_tax_reform.htm

“OBAMA: I want to provide a tax cut for 95% of Americans. If you make less than a quarter of a million dollars a year, you will not see a single dime of your taxes go up.”
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Old 10-01-2010, 09:19 PM   #6
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Default Re: Christmas present enormous tax increases

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Originally Posted by patsfan13 View Post
You need to include state and local taxes also.
According to The Heritage Foundation (extremist right wing propaganda tank) the overall rate is ~28%, and they rank the US at 8 overall in their "economic freedom" (LOL! Freedom bucks!) rankings.

Quote:
U.S. tax rates are burdensome. The top income and corporate tax rates are 35 percent. Other taxes include an estate tax and excise taxes. Additional income, sales, and property taxes are assessed at the state and local levels. In the most recent year, overall tax revenue as a percentage of GDP was 28.3 percent.
United States information on economic freedom | Facts, data, analysis, charts and more

The Brookings Institute (lefty version of the Heritage Institute) puts us in at about the same rate - 28.3% overall.

Amazingly, the cats and dogs agree on the issue.

Revenue Statistics 1965-2008, 2009 Edition

List of countries by tax revenue as percentage of GDP - Wikipedia, the free encyclopedia


Last edited by apple strudel; 10-01-2010 at 09:20 PM..
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Old 10-01-2010, 11:08 PM   #7
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Default Re: Christmas present enormous tax increases

If the rates stand as is, the lowest rate goes from 10% to 15%... amazing.
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Old 10-02-2010, 01:46 AM   #8
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Default Re: Christmas present enormous tax increases

The most interesting thing to note about Strudel's chart is that only 2 of the top ten countries have populations over 11 million people and only 3 of the bottom ten have populations under 11 million. I would have used 10 million (a nice, round number), but Sweden and Hungary both clear that hurdle by the skin of their teeth. In fact, the combined population of the bottom half is probably several times more than the combined population of the top half. In any case, I'm a little too out of it to draw any conclusions from that correlation, but it's interesting.

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“OBAMA: I want to provide a tax cut for 95% of Americans. If you make less than a quarter of a million dollars a year, you will not see a single dime of your taxes go up.”
A politician not keeping campaign promises? About taxes? I though only Bush I did that.
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Old 10-02-2010, 07:40 AM   #9
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Default Re: Christmas present enormous tax increases

WH Press Sec. trying to explain why no bill has been submitted to congress.

YouTube - Robert Gibbs Gets Lit Up Over The Administration's Stance On Taxes At White House Press Briefing

BTW, 60 votes are not needed for this to proceed. Democrats could pass tax cuts through reconcillition just like the Bush tax cuts were.
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Old 10-02-2010, 09:51 AM   #10
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Default Re: Christmas present enormous tax increases

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Originally Posted by Nikolai View Post


A politician not keeping campaign promises? About taxes? I though only Bush I did that.
How did that turn out for him when he ran for re-election?
(*I presume you were referring to Bush the Elder and "read my lips")
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