American's 20 richest people have more money than half the population

[nate]

So, AJ.  What is your retort to Obama ****ing over the middle class by raising income taxes 2%?

Edited March 17, 2016 by nate

[Guest]

So, AJ.  What is your retort to Obama ****ing over the middle class by raising income taxes 2%?

Do you not have a clear understanding of how the federal government functions? Obama can't just unilaterally raises taxes without Congress first passing it.

In fact, as a part of his economic recovery plan, Obama was able to push congress to cut the payroll tax by $100 Billion in 2012. He's been pushing hard for payroll tax cuts since his presidency began—that's on the Congress. I hate reading bullshit like your post.

[nate]

Do you not have a clear understanding of how the federal government functions? Obama can't just unilaterally raises taxes without Congress first passing it.

In fact, as a part of his economic recovery plan, Obama was able to push congress to cut the payroll tax by $100 Billion in 2012. He's been pushing hard for payroll tax cuts since his presidency began—that's on the Congress. I hate reading bullshit like your post.

 

Check your facts.

 

https://www.washingtonpost.com/news/wonk/wp/2014/11/11/president-obama-raised-middle-class-taxes-and-lost-an-election/

[Guest]

Son, you just got served.

Indeed.

[Guest]

Check your facts.

https://www.washingtonpost.com/news/wonk/wp/2014/11/11/president-obama-raised-middle-class-taxes-and-lost-an-election/

Those payroll tax cuts had previously been extended (temporarily). Democrats & Republicans both let them expire in 2014:

When it was set to expire in 2012, most Republicans voted against it including Speaker Boenher.

Congress on Friday passed legislation extending a tax cut for 160 million workers through December and continuing long-term jobless benefits, handing President Barack Obama a major victory in this election year.

In two quick bipartisan votes, the House of Representatives passed the measure 293-132, and minutes later the Senate passed it 60-36.

The legislation now goes to Obama, who is expected to sign it into law promptly.

But significant numbers of Republicans in both chambers voted against the bill, laying bare deep divisions within the party over an issue that they have struggled with for months and threatening to hurt their 2012 electoral prospects.

The measure, while adding $100 billion to the already high U.S. deficit, is aimed at further stimulating the economy at a time it is showing some positive signs. A sustained recovery would play well for Obama in his re-election bid in November.

The votes capped a fever-pitch debate in Congress that began in earnest in November. Democrats argued the legislation would help spur the economy and provide needed cash to struggling middle class families and workers, and to those who have been unable to find jobs amid an 8.3 percent unemployment rate.

Republicans have staked out a series of changing positions as they questioned the effectiveness of the tax cut. But their leaders ultimately saw that blocking the legislation would hurt them in November's congressional and presidential elections, especially as they were protecting tax cuts for the wealthy.

Also, you linked to me an op-ed not factual evidence. It speculates and assumes that Obama deliberately raised taxes. It also postulates that the Democrats lost mainly due to that single issue.

The Democrats lost the 2014 midterm elections because it was the lowest turnout in 72 years and gerrymandering.

Edited March 18, 2016 by failos

[Guest]

Just to be clear, it was you who got served, son.

I'm aware of that

[ten ocho recon scout]

Im not saying this to defend obama, but whoever was in office i would think would have had to raise taxes. And if he didnt, the next one or next one would, due to the debt.

Im no economist, maybe you guys have other ideas. But at some point we're all going to be stuck paying for it one way or another.

Funny enough, didnt realize it until i read that article, but my take home and tax returns did go down the last few years. I just assumed it was something that went up at work, not the fed tax.

[mtangelsfan]

Why should we be paying for it?

 

They need to trim their belts to pay for it.  Start with defense and work your way down.

 

this is like saying "Well, the feds are gonna do it so we might as well just get used to it"

[ten ocho recon scout]

Lets say the federal govt stops spending on everything today. How long would it take us to pay down the debt? Now lets say they only spent on the important things, whatever you or i say are "the" important, cant live without things. How much longer would it take?

Youre saying it as though i applaud it. I dont. But regardless of however anyone feels about obama, this country inherited a massive debt from iraq, as well as various other things. And the president who is in office when iraq is finally paid off may not even have been born yet...

And thats just the iraq debt.

[mtangelsfan]

This has been going on long before Obama and while I think his presidency has been awful I blame him no more than the last several presidents.

 

The point is no other entity can go on spending forever.  They have to cut back, a lot.  If they cut back significantly that what they are taking now should be enough. 

Edited March 18, 2016 by mtangelsfan

[Adam]

As if there is any intent to pay the debt

[Catwhoshatinthehat]

Kind of hard to pay the debt down when we keep running annual deficits.  Sooner or later we'll be forced to make draconian cuts that would have been much easier to stomach had they been made now over a longer period.  Instead we'll continue to prop up a certain quality of life while screwing over future generations.  

[Tank]

$8 a week!!!!

[AngelsLakersFan]

Kind of hard to pay the debt down when we keep running annual deficits.  Sooner or later we'll be forced to make draconian cuts that would have been much easier to stomach had they been made now over a longer period.  Instead we'll continue to prop up a certain quality of life while screwing over future generations.  

 

The American dream has been paid for with credit cards for the last decade+.

[ten ocho recon scout]

This has been going on long before Obama and while I think his presidency has been awful I blame him no more than the last several presidents.

The point is no other entity can go on spending forever. They have to cut back, a lot. If they cut back significantly that what they are taking now should be enough.

yeah, asgree fully. I didnt mean my post to place all the blame on W. He had to eal with clintons policies, who had to deal with HW bush, etc etc.

In either this or another thread we talk about the loss of working wage jobs in this country. Thats a huge problem, not just in terms of for people not being able to get good jobs, but it also means less people paying into the pot. Its so many different variables adding to the problem.