I thought Obama wouldn't tax the poor or the middle class?

You know it's bad when the NY Times is talking about taxes going up because to them Obama walks on Water while he orders Drone strikes that kill innocent children.

Here's the times.

Jack Andrews and his wife no longer enjoy what they call date night, their once-a-month outing to the movies and a steak dinner at Logan’s Roadhouse in Augusta, Ga. In Harlem, Eddie Phillips’s life insurance payment will have to wait a few more weeks. And Jessica Price is buying cheaper food near her home in Orlando, Fla., even though she worries it may not be as healthy.

Like millions of other Americans, they are feeling the bite from the sharp increase in payroll taxes that took effect at the beginning of January. There are growing signs that the broader economy is suffering, too.

Chain-store sales have weakened over the course of the month. And two surveys released last week suggested that consumer confidence was eroding, especially among lower-income Americans.

“You got to stretch what you got,” said Mr. Phillips, 51, a front-desk clerk and maintenance man for a nonprofit housing group who earned $22,000 last year. “That little $20 or $30 affects you, especially if you’re just making enough money to stay above water.” So he has taken to juggling bills, skipping a payment on one this month and another next month.

“I’m playing catch-up each month,” he said. “You go to the supermarket and you can’t spend what you used to.”

Jack Andrews has it slightly better than Mr. Phillips. He earns a bit more than $40,000 a year manufacturing ceramics in a local factory, but because his wife, Cindy, is disabled, he is the sole breadwinner. Something had to give now that he is earning about $800 less a year, or $66 a month, and it was the couple’s monthly night out.

Sadly these people were sold a bill of goods by Obama. Not only is there taxes going up but there savings and purchasing power is weakened as the Fed prints and floods the market with cheap dollars. These cheap dollars increase the bottom line of multi-national banks and Corporations and the "evil rich" get filthy rich under Obama and the poor and middle class get the shaft.

There's more:

The tax break, which was pushed by the White House to stimulate spending in 2011 and extended in 2012, was always supposed to be temporary. But with pressure building in Washington to reduce the deficit and politicians fighting bitterly over whether to raise taxes on the very rich, the question of how the increase in Social Security taxes would affect the poorest workers did not seem to garner much debate on either side of the aisle.

“I don’t see any reason to consider supporting its extension,” said Timothy F. Geithner, the Treasury secretary, in testimony last year. Even Nancy Pelosi, a reliable liberal who leads the Democratic minority in the House of Representatives, was for letting it expire.

The higher rate applies to all earned income up to $113,700. For a household earning $100,000 a year, the two-percentage-point increase means an additional $2,000 a year in payroll deductions. Economists estimate that the payroll tax increase will reduce disposable income by about $120 billion and shave half a percentage point from economic growth in the first quarter — a significant blow given that the economy is expected to expand only 1 to 2 percent in the first half of 2013.

“If you wanted to design a policy to squeeze the spending of lower- and middle-income households, raising the payroll tax is the way to do it,” said Ian Shepherdson, chief economist at Pantheon Macroeconomic Advisors. “It’s very regressive.”

www.nytimes.com...

This is why the payroll tax cut shouldn't have happened in the first place. Because people saved or paid bills with a lot of that money, you took money from S.S. and Medicare and you pull the rug from out under people who are used to that extra money in a bad economy.

Now it's regressive, because people will stop spending on other things to make up for what they were spending with the payroll tax cut.

But it doesn't matter, Obama's black and he's our Dad as Chris Rock said. As a black man, this makes me sick.

reply to post by neoholographic


This is going to be hard to understand but he put forth a list of aspirations, things he was going to try and accomplish. We couldn't elect him without knowing the agenda but no one expected all of it get done in either his first 4 years or his presidency. Anyone who thinks so doesn't know how politics or Washington work.

In the primaries I wanted Hillary Clinton just because although were ideologically similar, she was better equipped to handle the corruption and red tape that is Washington. I am certain she heard plenty of coulda, woulda, shouda from Bill. They were critical times, no place for a novice and I even had some correspondence with Super delegate Donna Brazil over the matter. I was trying to persuade her to go for Hillary since Obama was wet behind the ears. She assured me he could hold his own but I am not sure she knows the down and dirty dealings you have to negotiate to do that job. The compromises and the pride swallowed. I am sure it is no picnic and Obama has done at least as well, maybe a little better, than I expected



Double post (at least I can full in the space) lol

Unbelievable! a first time triple post...what is this now.... a birdie?

Sorry

I thought Obama wouldn't tax the poor or the middle class?

You thought wrong, as I am sure many who voted for him have seen.



S&F

We were all to busy being divided and being divisive.

The raise is not a raise...it states clearly that it was part of a temp stimulus that artificially lowered taxes a bit on payroll for awhile...it was set to expire, yes..it needs to expire.

what the hell is wrong with people. if you get a coupon for a dollar off a 3 dollar burger, you get a burger for 2 bucks and eat happily...
you don't then expect forever the burger will be 2 bucks...get over it you morons..see, this is the entitlement bs people claim...give a quick stimulus injection and suddenly you want it forever.

Hense why the entitlement party (the republicans) have been demanding the bush stimulus tax cuts are made permanent.
(see what I did there?)

So no, in this regard, Obama didn't lie...people are just not paying attention.

reply to post by neoholographic


Me and my wife made 99 grand this year and because I had an extra 50 deducted every payday just to make sure I woudn't have to pay I still get almost 4 grand back. Seeing as how I have such a hard time saving up money, I am happy to do it this way, despite the gov't using my money all year, the tax changes have not hit me hard yet apparently....

reply to post by neoholographic


No, you know what's really funny??

The Libs were frothing mad over water boarding when GWB was President, but apparently it's just fine to explode their heads with drone missile strikes now that Obama is in office.

We went to H&R Block and had our taxes done last week. All the preparers were talking about how they expect a lot of upset people next year when the Obamacare TAX kicks in .. and all the people who think they are getting free health care will instead get hit with tax penalties because they didnt' go out and buy the product (health care) mandated by Obama.

Expect lots and lots of ticked off people next Feb-Apr when they go to do their taxes.

Health care taxes are going up next year as well thanks to Obama and his supporters. I think the secret plan is to make employer sponsored health insurance not be competitive due to high taxes owed the government so that everyone ends up on an expensive government plan. If you don't sign up for insurance, thanks to Obama, you'll have to pay thousands depending upon your family size. The Supreme Court said it was a tax and all perfectly legal.

reply to post by orionthehunter


The Healthcare Bill started in the Senate. Since SCOTUS ruled it a tax, it should have started in the House. This makes it unconstitutional in my mind. Why is it not being revisited by SCOTUS on those grounds?

The National Healthcare system was supposed to make healthcare affordable for eveyone. Obviously it is doing the opposite. How can the Democrat party and it's constituants support it? Something needs to give. People need to wake up and vote these liars out of office. If they aren't lying then they are incompetent.

Originally posted by FlyersFan
We went to H&R Block and had our taxes done last week. All the preparers were talking about how they expect a lot of upset people next year when the Obamacare TAX kicks in .. and all the people who think they are getting free health care will instead get hit with tax penalties because they didnt' go out and buy the product (health care) mandated by Obama.

Expect lots and lots of ticked off people next Feb-Apr when they go to do their taxes.

Slightly off topic, but isn't it a shame you need a medium to do taxes? It speaks volumes really, I mean, it's like we're on a contract..

reply to post by neoholographic


I am a libertarian through and through, and so don't believe raising taxes on anyone, but there is a catch. If they aren't going to do the other things that must be in conjunction with lowering/maintaining a tax rate then screw it and raise the taxes on the rich.

If they can't cut out the garbage spending and taxes are going up then raise them on the people that are certain not to go hungry because of it.

I mean, you are really seeing a government push their limits. The problems are clear and the solutions are obvious and the cause and lack of solution is due to one thing and one thing only MASSIVE GOVERNMENT CORRUPTION. Put me in office with people that aren't bought by corporations and I will fix the government and economy. 1 year to solve the problems, 8 to 10 years and guaranteed to not only be solved, but booming.

reply to post by jimmiec


So our family recently purchased health insurance through my husbands work..will we still have to pay for obamacare? Im confused about this. Do people that have private insurance get affected by all of that, or just people without health coverage????

Thanks!

Originally posted by newcovenant
reply to post by neoholographic

 

This is going to be hard to understand but he put forth a list of aspirations, things he was going to try and accomplish. We couldn't elect him without knowing the agenda but no one expected all of it get done in either his first 4 years or his presidency. Anyone who thinks so doesn't know how politics or Washington work.

he told people exactly what his agenda was, he is still telling people. He has said he will build a civilian force with the budget of the DoD, why do you think they have bought over 1.6 billion rounds of ammunition? He told somebody a few weeks ago we do not have a spending problem. He told people he was going to be a far left leaning liberal/socialist (basically a communist) since 2008.

People don't LISTEN, they just see a charismatic man that flat out told the masses he was going to do this, only half of the country had a brain and voted no, but the fraud tipped the scales and we got this clown twice. Good luck ever seeing another election.

He is going to drive up everything while driving down your own worth, they are pumping 85 BILLION dollars into the stock market pump n dump every single month right now, why do you think people are starting to bet on a collapsed dollar in the VXI? If you all have not woke up yet, I expect you to be dead within 6 months of the collapse. Which is his handlers AGENDA. so many stupid people in this country with what they call an education, but in fact it is indoctrination becuase people do not question the system.

congress writes legislation and the IRS writes the tax code, correct ?

why are reed and boehner never mentioned ?

weird

Originally posted by GogoVicMorrow
reply to post by neoholographic

 

I am a libertarian through and through, and so don't believe raising taxes on anyone, but there is a catch. If they aren't going to do the other things that must be in conjunction with lowering/maintaining a tax rate then screw it and raise the taxes on the rich.

If they can't cut out the garbage spending and taxes are going up then raise them on the people that are certain not to go hungry because of it.

I mean, you are really seeing a government push their limits. The problems are clear and the solutions are obvious and the cause and lack of solution is due to one thing and one thing only MASSIVE GOVERNMENT CORRUPTION. Put me in office with people that aren't bought by corporations and I will fix the government and economy. 1 year to solve the problems, 8 to 10 years and guaranteed to not only be solved, but booming.

edit on 9-2-2013 by GogoVicMorrow because: (no reason given)

you are not a libertarian with these beliefs. hate to tell you that.