Why are Republicans so against Obama taking away the tax cuts for the $250,000 and above demographic?
I mean seriously....if your not rich, then why are you so concerned about their well being? Your definitely not concerned about the poor...you guys have made it painfully obvious to everyone. Yet you guys totally freak out when any public policy is implemented against the very demographic that owns 90% of the wealth in this country.
We know that the average Republican voters is lower middle class, so why do you guys continue to vote against your own interests?? The rich are using you guys like the tools you are.
Obama made is obviously clear that he will not raise taxes on those making less than $250,000. If only you would listen to him instead of depending on Sean Hannity and Rush Limbaugh to tell you. They will obviously lie to you!
Actually, the middle class and poor are losing grounds to the rich in this country. The rich have grown richer and the poor and middle class have grown poorer.
Why in the world would we give 1 trillion dollar tax break to those getting richer and give peanuts to the rest?????? Is that really logical? So how is it logical to NOT take these tax cuts from the rich and give them to the rest of Americans???
Especially considering the poor spend every cent they have out of necessity, therefore helping the economy while the rich store all the money so they can flaunt it to others.
It's very simple logic, yet republicans always miss the mark on this one.
You give tax breaks to people who need it!
Why give tax cuts to those who are getting richer already???
WE CANT AFFORD IT! America is 13 trillion dollars in government debt! We can't afford to give 1 trillion dollar tax cuts to the growing wealthy in this country!
It's not about punishing the rich, it's about doign what is most logical and affordable!
And answer me this...
If the trickle down theory actually worked, then why do the poor and middle class continue to lose economic ground to the rich in this country????
"First of all, your premise is wrong. Republicans are so against Obama raising taxes on anyone making over $102k and above."
Dude, you gave me a link to his social security page and I can't find where it says 102k anywhere.
Can you please give me a reliable source on this premise, because Factcheck.com says otherwise...
He has said he would pay for much of his plan "by allowing the Bush tax cuts to expire for people making more than $250,000 per year, as they are scheduled to do."
Why do people keep saying the rich people will raise prices???
Hey guess what, after the 1 trillion dollar tax cuts....we still have less buying power than before!! What do you have to say about that???
When you neglect the middle class, you neglect America. Very simple. The whole reason for Americas standard of living is the support of the middle class....not the rich!
The rich horde money, they don't spend it like average people do.
You understand how being rich works? You don't actually spend the money, you flaunt it! It's a contest to these people. They lay of millions of American workers, then they make huge profits on their stocks as a result and then they put it in a bank and repeat the proccess. Meanwhile these unemployed workers have no income source, therefore cannot contribute to the economy. So you tell me, which one is hurting the economy more? Please use your logic, not the same old talking points coming from the right wing media.
- holocene epochLv 41 decade agoFavorite Answer
I am not a republican..but I resent his desire to take away those tax cuts because someday I hope to become a wealthy person through hard work. I am not a wealthy person yet, but it will happen.
He wants to place a HUGE tax on ALL America and then send that money OUT of our country and over to the UN who will then have carte blanche to hand the money over to Africaa which is falling to its knees under the violence of islam which still owns black slaves which Obama has publically announced several times now he will always stand by.even though he is christian.
So you see..the change he has in mind for us to to give all our money to an entire continent which has never changed for the better in millions of years and which is being overtaken by slavers.
I think Obama wants to be called "massah" , "master, "messiah"..
- Uncle PennybagsLv 71 decade ago
First of all, your premise is wrong. Republicans are so against Obama raising taxes on anyone making over $102k and above. Please look at the page on Obama's web site where he states this quite clearly. I've linked to it below. He wants to end the cap on SS payroll tax. Now anyone earning over $102K gets an instant 6.2% tax hike. If you happen to be an entrepreneur, you know, the people that actually create jobs, you get a double whammy by paying both halves of that. Entrepreneurs get an instant 12.4% payroll tax hike.
Maybe they're against it, because the richest 50% of the country are already paying 97% of the taxes (per IRS data). Maybe they are tired of continually being screwed more and more, when they are paying an ever increasing share of the taxes (again, IRS data).
Maybe because when Democrats talk about taxing the rich, somehow, we middle class people end up being "rich."
For me personally, I added it up. I paid $29,000 dollars in taxes last year that I could document, meaning I got a form or statement referencing the tax, while I can only afford to own a 2 bedroom basic townhouse. I paid more in taxation last year, then I paid for all my food, housing and gas.
UPDATE: How can you give the poor a tax cut, when they aren't even paying taxes? Is our 13 trillion dollar debt a big problem? The answer is no. For all our debt, less then 10% of tax receipts go to service interest on the national debt.
Are the poor and middle class really losing ground? The answer again is no. Please see census data I've linked to below. Long term, the trend for all income classes has been up! Yes, recently it's stagnated, because we have been going through a lot of turmoil the last decade.
2ND UPDATE: Here's the exact quote on Obama's Social Security Page, "Obama believes that the first place to look for ways to strengthen Social Security is the payroll tax system. Currently, the Social Security payroll tax applies to only the first $102,000 a worker makes. Obama supports increasing the maximum amount of earnings covered by Social Security..."
If Obama's own web site is not a "reliable source" to you, then I doubt anything will qualify.
3RD UPDATE: The rich horde money? Are you serious? How can they have these big mansions, yachts, and luxury automobiles if they horde money? The truth be told, they invest much of it back into the economy to grow the economy more and provide more jobs to us. The dollar a rich person has is no different then a dollar a poor person has. No matter how you use it, whether investing, saving or spending, it benefits the economy. Unless you send it overseas because of excessive taxation.
Nameless one - feel free to take this debate into email. Click on my avatar and then click the send email link if you wish to.Source(s): http://www.barackobama.com/issues/socialsecurity/ http://www.census.gov/hhes/www/income/histinc/h01a...
- margaret hLv 71 decade ago
If you believed it when "Obama made is obviously clear that he will not raise taxes on those making less than $250,000." then you may have a screw loose somewhere or very selective hearing.
Aren't you listening?
He's already given a LIST of other tax increases!!!!!!
Simply letting the Bush tax cuts expire will double the existing tax rates in the entire working and middle classes.
Not getting rid of the ATM is killing the middle class.
Raising the capital gains tax harms the elderly, union members, anyone depending on saving for their future. At least 50% of capital gains are paid by those making less than $50K annually.
Lifting the cap on social security costs not only the employee but the employer who has to match it - and that includes mostly small and mid-sized business who hire most of the workers in America.
The worst is the hidden tax.
Tax increases of any kind are passed on in higher prices in goods and service causing inflation.
This is most harmful to lower and working class people and those living on fixed incomes who spend the largest percentages of their incomes on living expenses.
It also leads to job losses which most heavily impacts these same groups.
Why do you think that small business owners and the middle class are up in arms about Obama's proposals.
They've thought this through.
They've also been through this before, seen it fail and never want to see it again.
We are voting for YOUR best interests!
You somehow haven't figured it out yet.
- 1 decade ago
I completely agree with you. I say across the board taxes - same percentage for everyone. It's so not fair that the rich get tax breaks! And I'm upper middle class so it would effect me.
If any of you want to argue with it, look at Denmark. Rated the happiest country in the world and they have a pretty socialist economy where everyone is taxed highly and there is very little lower or upper class. High literacy rate, high happiness, universal health care. Sounds like a good system to me. Stop complaining about taxes and think of the well being of others too.
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- DebraLv 44 years ago
You Obama bashers including the so called liberal pro-Obama media are hilarious. You show are 1 minute clip of a probably 30 minute speech and cite it as evidence that he was lying or remembered incorrectly the response of the automakers. Maybe Obama was referring to another moment in his speech. I'm I supposed to believe the the first time he mentioned increased fuel efficiency requirements that the audience was not silent. Who cares? Obama asked the automakers at least once to improve fuel efficiency standards. Is it really important whether they were silent or they applauded? Equating this with Hillary's sniper fire story is a far stretch.
- Anonymous1 decade ago
You really have no grasp of economics do you.
1) Barack will allow Bush's tax cuts to expire, and that affects EVERYONE AN AVERAGE OF $1500
2) Social Security payroll tax cap will be lifted if he gets his way - this will affect everyone that makes more than $102k and of course their employers who may hire a few less people because of the match
3) When small business owners (you know the "rich" ones) get taxed into oblivion you should expect to see: job loss, lower wages, and higher inflation.
4) Capitol gains tax increase to 28% will affect anyone with investments and seniors who wish to downsize.Source(s): PS the rich that you all seem so willing to attack already pay 68.9% OF ALL FEDERAL TAXES PAID, DESPITE ONLY BEING 15% OF ALL WAGE EARNERS.
- Anonymous1 decade ago
I'm concerned because it's the rich people who are helping the economy. Rich people get rich off of business, which is the foundation of the economy. If the rich people get taxed heavier, they'll want to raise the prices of their products to make up for money otherwise lost to taxes. That means that the prices for basic merchandise will go up and push the economy even further down. Do you want that?
- theREALtruth.comLv 61 decade ago
Rich people own businesses. We Middle Class Americans work and shop at these businesses owned by the Rich Americans.
If the government taxes the Rich Americans more, they're less likely to give pay raises to their employees (Middle Class Americans) or increase the prices of their goods and services we (Middle Class Americans) pay at their businesses.
And if the government taxes the Rich Americans enough (such as Jimmy Carter's 70% rates), why would they stay in America? How many of them would close their businesses and go to another country, leaving us Middle Class Americans without jobs or places to get food and other essentials?
- SageandscholarLv 71 decade ago
Well there you have your answer. You have provided an impartial source outlining what he plans to do and most answers claim his policy is something else.
Remember in 1992 - Republicans were lining up to tell us that Clinton's tax policy would spell disaster for the USA. Instead we got the longest economic expansion in history, growing median wages and shrinking poverty every year, and a balanced budget. You would think these guys would get tired of being wrong.
- Anonymous1 decade ago
Because it is fundamentally wrong to punish SUCCESS in America?
Because the highest earners ALREADY pay the greatest share of taxes?
Because the "rich" are the ones investing and owning businesses that give the rest of the dumb a$$ people jobs in the first place?
Maybe we just don't HATE like democrats do. I like rich people. One day, I want to be one of them......