Illuminate Ur Self
Please register and join our discussions. Illuminate Your Self, started as a closed forum, and has recently opened for new membership. We offer a wide array of topics from Global and Local Political News, to Middle East Confrontations, to Conspiracy Theories. Bring your expertise.

Have a Blog dedicated to similar topics ? Join the forum and we willl host your Blog Link on our Index page for all to see.

What are you waiting for ? We know you have an opinion !


Between Conspiracy Theories, Rumors, Twisted Words, and lies, there is a reality of what is
 
HomePortalRegisterLog in

We have moved to www.illuminateurself.com, PLEASE re-register for a new account there.  We are no longer posting in this forum.  Thank you !

What is your Dinar Worth?
Search
 
 

Display results as :
 
Rechercher Advanced Search
Latest topics
» Obama tells Jews to stop building homes – in Israel!
Tue Sep 01, 2009 10:07 pm by akumamenra

» U.S. Economy Trending Towards an Inflationary Depression -MUST READ
Tue Sep 01, 2009 9:53 pm by akumamenra

» Switzerland appears to succumb to pressure on banking regulations
Thu Aug 27, 2009 8:27 pm by Illumin8

» Hollywood Assualting us with FEAR MOVIES
Thu Aug 20, 2009 2:07 am by niteowl

» The Spreading of World Hatred
Tue Aug 18, 2009 11:42 pm by Lisa

» OBAMA HEALTH CARE THE DIRTY LITTLE SECRET
Tue Aug 18, 2009 11:39 pm by Lisa

» The Thieves of Baghdad
Tue Aug 18, 2009 11:37 pm by Lisa

» George Soros' Shadow Party ~ Must Read
Tue Aug 18, 2009 11:34 pm by David

» What would Saul Alinsky Do ?
Tue Aug 18, 2009 11:32 pm by David

» NEW PARTY (NP)
Tue Aug 18, 2009 11:29 pm by Katherine

» Open Letter to Obama
Tue Aug 18, 2009 11:27 pm by Jane

» Must See 4 part Video Stewart Rhodes/Alex Jones TV
Tue Aug 18, 2009 11:18 pm by Justin

» Free wood for cooking and heat
Sun Aug 16, 2009 11:14 pm by Solutions

» BooKs.....
Sun Aug 16, 2009 2:23 pm by northern_alliance

» Go Solar when it comes to a generator
Sun Aug 16, 2009 1:58 am by Solutions

» Solar back up
Sun Aug 16, 2009 1:56 am by Solutions

» Ready made meals for the pantry or bunker
Sun Aug 16, 2009 1:27 am by Solutions

» Gov cash for your computer hard drive whoops I ment cash for clunkers
Sun Aug 16, 2009 1:14 am by Solutions

» The American Holocaust - Coming to a FEMA camp near you
Sun Aug 16, 2009 1:08 am by Solutions

» Illuninating Library Book Index
Sat Aug 15, 2009 10:28 pm by northern_alliance

» Obama's CZARS (as of 7-8-09)
Fri Aug 14, 2009 10:30 pm by Illumin8

» Silencing Dissent
Fri Aug 14, 2009 10:21 pm by Illumin8

» Constitution Article I, Section 8
Fri Aug 14, 2009 10:19 pm by Illumin8

» Containers you name it they got it
Fri Aug 14, 2009 10:18 pm by Solutions

» Seeds and Sprouts dealers
Fri Aug 14, 2009 10:16 pm by Solutions

» Obamacare and what our Constitution says
Fri Aug 14, 2009 10:15 pm by Illumin8

» Top 12 Food Additives to Remove From Your Diet
Fri Aug 14, 2009 9:58 pm by Solutions

» Human chipping and items you buy are chipped
Fri Aug 14, 2009 9:56 pm by Solutions

» What's in your wallet? "THEY" know!
Fri Aug 14, 2009 9:51 pm by Solutions

» Earthquake Safety Tips
Fri Aug 14, 2009 9:47 pm by Solutions

Visits
Get Involved


 

 


topics

Share | 
 

 Obama’s Tax Plans Range From Unrealistic To Downright Dishonest

Go down 
AuthorMessage
Jackay
Member
Member
avatar

Number of posts : 39

PostSubject: Obama’s Tax Plans Range From Unrealistic To Downright Dishonest   Thu Jul 09, 2009 10:07 am



WASHINGTON (AP) - President Barack Obama promised to fix health care and trim the federal budget deficit, all without raising taxes on anyone but the wealthiest Americans. It’s a promise he’s already broken and will likely have to break again. Obama and the Democratic-controlled Congress have already increased tobacco taxes—which disproportionately hit the poor—to pay for extending health coverage to 4 million children in working low-income families.

Now, lawmakers are looking for more revenues to help pay for providing medical insurance to millions more who lack it at a projected cost of $1 trillion over the next decade.

The floated proposals include increasing taxes on alcohol, which could raise $62 billion over the next decade, and a new tax on sugary drinks such as soda, which could raise $52 billion.

Senate Democrats this week pretty much rejected a proposal by Finance Committee Chairman Max Baucus, D-Mont., to tax health benefits, an idea that Obama repeatedly criticized during the presidential election campaign but has refused to take off the table.

Sen. Chuck Schumer, D-N.Y., said negotiators are still looking for revenue alternatives. Asked during an interview with The Associated Press if they included tax increases on families with incomes less than $250,000 a year, Schumer said, “There are lots of things on the table now.”

The health care bill is a long way from Obama’s desk, but tax experts say the debate illustrates a stark reality: It is simply implausible for the vast majority of Americans to get a free ride while the nation tackles such an incredibly difficult—and expensive—issue.

“We’re all going to have to contribute,” said Eugene Steuerle, a former treasury official in the Reagan administration and now vice president of the Peter G. Peterson Foundation.

Paying for Obama’s agenda might be easier, Steuerle said, if the nation wasn’t already facing massive federal budget deficits for the foreseeable future.

“The dilemma is trying to do the new while the old is still unpaid for,” Steuerle said.
The federal budget deficit is projected to hit an unprecedented $1.8 trillion this year—on top of a national debt that has already topped $11 trillion. Obama insists that any bill on health care or climate change not add to the debt.

Obama says much of the $1 trillion needed for his health care overhaul will come from cutting costs. So far, drug companies and hospitals have agreed to provide 10-year savings of $235 billion.

Health care experts say cost cutting alone won’t produce enough money to insure the nearly 50 million Americans who lack coverage. Moreover, Congress is obligated to follow budget rules that might not recognize many of the promised savings.
“The administration has an extremely difficult educational problem on its hands,” said Henry J. Aaron, a health care expert at the Brookings Institution. “They understand that at some point tax increase are going to be necessary across the board.

“Yes, for the middle class, too,” he added.

Obama made a firm tax pledge during the presidential campaign, repeating it numerous times in the weeks and months leading up to Election Day: no tax increases for individuals making less than $200,000 a year or couples making less than $250,000.

“Not your income tax, not your payroll tax, not your capital gains taxes, not any of your taxes,” Obama told a crowd in Dover, N.H., last year.

But less than a month after taking office, Obama signed an expansion of child health care financed by 62-cent tax increase on each pack of cigarettes.
Obama also signed an anti-smoking bill in June that grants authority to the Food and Drug Administration to regulate tobacco. To pay for the new program, a fee is being imposed on the industry—and presumably passed on to consumers—estimated to generate more than $5 billion over the next decade.

While not directly increasing taxes, a House-passed version of Obama’s plan to reduce greenhouse gases blamed for causing global warming would similarly increase American families’ home energy bills by $175 a year on average, according to the Congressional Budget Office.

Obama hasn’t offered a detailed plan to fix health care, though his aides are working with lawmakers as they craft proposals. Obama included only a down payment for health care reform in the budget proposal he unveiled this spring.
He proposed limiting itemized tax deductions for individuals making more than $200,000 and couples making more than $250,000. The plan, which faces stiff opposition in Congress, would limit deductions for mortgage insurance, state and local taxes and charitable contributions, raising about $270 billion over the next decade.

Obama also proposed a series of business tax increases and accounting changes that would raise an additional $30 billion.

Kenneth Baer, a spokesman for the OMB, said Obama’s cost reductions and tax increases add up to “a plan which gets you really close to what you need.”
“Congress has other ideas,” Baer said. “We’ll work with them.”

The appeal of Baucus’s proposed tax on health benefits was the amount of money it could raise. Currently, employer-provided health benefits are not taxed, regardless of how generous they are.

One version of it would tax health benefits that exceed the value of the basic insurance plan offered to federal workers, raising about $420 billion over the next decade, according to the nonpartisan Joint Committee on Taxation. But limiting it to individuals making more than $100,000 a year and couples making more than $200,000 would raise only $162 billion.

The math illustrates how difficult it is to raise enough money to pay for expensive programs, when tax increases are limited to the wealthy.

“We’re living in an era, over a period of 20 years or more, in which the idea that tax rates would actually be boosted is unutterable,” said Aaron, the health care expert. “That has to stop.”




http://patdollard.com/2009/07/obamas...ght-dishonest/
Back to top Go down
Johnzip
Member
Member


Number of posts : 22

PostSubject: Re: Obama’s Tax Plans Range From Unrealistic To Downright Dishonest   Wed Jul 29, 2009 4:35 am

So, what hes saying is that over half of everyone’s income is going to have to pay for bailouts for companies like AIG who wasted taxpayers money on junkets? How has any of the bailouts helped ANYONE other than CEO’s and execs line their pockets? Did anyone’s house get saved because of this? Did anyone’s house payments go down because of this?

Between our electric going up originally 17% in September, but was cut by the PUCO to 8%, and our gas going up 8% also in September, and the cost of food going up approximately 25% in the past year, who is going to be able to afford ANYTHING?

And yet, there is talk about another stimulus, which the previous one horribly failed. We can’t AFFORD another one!

People who are on welfare are going to be making more money for FREE, than those who actually work! Obama, his Administration and Congress is going to be turning this country into a third-world country. Let’s see them take some cuts in their pay and benefits!
Back to top Go down
Mansoor
Member
Member


Number of posts : 22

PostSubject: Re: Obama’s Tax Plans Range From Unrealistic To Downright Dishonest   Wed Jul 29, 2009 4:37 am

Liberals are just lying thieves. Nothing more, nothing less. Well, I suppose they are something more as long as you call cheats, power hungry, arrogant, unfair, etc. something “more.”
Back to top Go down
Sponsored content




PostSubject: Re: Obama’s Tax Plans Range From Unrealistic To Downright Dishonest   

Back to top Go down
 
Obama’s Tax Plans Range From Unrealistic To Downright Dishonest
Back to top 
Page 1 of 1
 Similar topics
-
» Phpbb News: 3.0.6 Plans
» Jesse Jackson Jr. has BiPolar problems. He obviously has been crazy MANIC with "OUR" $$$$$$$$ and his plans and agenda. Always knew there was something nuts about the marxist criminal politician. Comrade Commissar Jackson should be piloried alon
» Obama’s College Classmate: ‘The Obama Scandal Is at Columbia’
» Frank Marshall Davis: Obama’s Communist Mentor on the Catholic Church
» Obama's staggering record of failure

Permissions in this forum:You cannot reply to topics in this forum
Illuminate Ur Self  :: US Politics Area :: Radicals among US-
Jump to:  
Forum free | Society and Culture | Politics | © phpBB | Free forum support | Contact | Report an abuse | Forumotion.com