How much will Obama raise taxes for the top 5%?

[CCS]

35% up to what? 40%? or 70%? I know he is letting bush tax cuts expire. I think if he just lets bush cuts expire, and just raises the highest tax rate to 40% from 35%, we won't get hurt too bad. I just hopes he does not spend a deficit with the health care though.

I'm fiscally conservative and socially liberal, so I hope Obama gets in, gets us some liberal supreme court justices, and is replaced by a conservative later, who will be powerless to outlaw abortion with the liberal justices in office. Then we get the best of both worlds. But if Obama's economics work, we won't need the conservative, at least not right away.

Does anyone know what he will try to raise taxes to?

 

[CCS]

And I'm really upset about all these lame parents who are paid money by the government because they don't make a lot. If you make $40,000 and have kids, they give you an extra $7,000 because you need it.

If you don't make enough, you should not have kids. And if you have them, they should be taken away and you should have to pay child support to the foster parents. I'm just upset because I know one of these families, and the guy sits at home playing video games all day while his sons run around pooping on the floor. The woman can't get a decent guy, and won't replace him. Hard working guys can't compete with that gigilo because the government just gives the poor family money. Won't wear a condom or get a viscectomy.

 

[The Gardener]

I'm fiscally conservative and socially liberal, so I hope Obama gets in, gets us some liberal supreme court justices, and is replaced by a conservative later, who will be powerless to outlaw abortion with the liberal justices in office. Then we get the best of both worlds. But if Obama's economics work, we won't need the conservative, at least not right away.

CCS, although I think your wording is too scheming and presumptious on the concept of abortion in particular, in a "high altitude" view of the political world, I have to admit that in basic principles I pretty much completely agree with your statement. Your general statement exactly parallels my own thinking on the situation... but instead of "abortion" being the issue, for me, it is corporate welfare, pandering tax cuts to the rich, etc.

 

[Harie]

It sends the top 2 tiers back to 36% and 39.6%.

Since the lowest tier and the 2nd lowest tier don't pay any income tax at all, it would give them a rebate check every year.

 

[badasshairday III]

Harie, what source did you get that table from?

It looks fishy because the family income of ~250K shows that there would be no tax increase under Obama. It shows a tax increase only after the 600K line. Sounds strange because the rhetoric has been that if your family makes under 250K, you will not see an increase in tax, only those making over 250K would.

And about the two lowest tiers not paying taxes at all, and getting a rebate is pointless. I don't see why they should get a rebate when they don't even pay taxes at all.

 

[Harie]

Harie, what source did you get that table from?

Straight from the Washington Post's website. http://www.washingtonpost.com/wp-dyn/co ... 00950.html

And Obama only said that those making less than $250,000 would see their taxes lowered.

 

[CCS]

I don't think Obama's tax plan will ruin the country. It is a step closer to sociallism, but one that is small enough I might take it just to get a social liberal in office.

There are some double taxes out there that are wrong, though.

I say stock trading should be taxed according to how long you hold the stock:

More than 2 years: 0%
1-2 years: 10%
1 mo to 1 year: 17%
1 week to 1 mo: 28%
1 day to 1 week: 33%
1 hour to 1 day: 36%
Less than 1 hour: 39.6%

That's how I'd do it. Comments?

 

[The Gardener]

I don't think Obama's tax plan will ruin the country. It is a step closer to sociallism, but one that is small enough I might take it just to get a social liberal in office.

I completely agree, CCS. Not just in terms of being a social liberal, but also, I think it is crucial to get the warmongering imperialists OUT of power.

I'd vote Republican if the party got back to its philosophical Eisenhowerian roots... a small, efficient government. Low taxes. Low intrusion into the social lives of citizens. And a lower profile in foreign relations... I'm a "talk softly but carry a big stick" kind of guy, and I think its time to flush the "talk loudly, be a bully, and use your stick frequently" crowd.

The Republican party's roots are libertarian, and if they return to them, I'll once again be a loyal Republican.

But as long as the GOP hangs onto its "New American Century" fascist dreams, and as long as the GOP continues to be the socialism for the rich party, I'll vote Democrat each and every chance I get (Unless a viable Libertarian party is formed), and I'll continue to be a VOCAL opponent of this vile strain of Republicanism.