He says that taxes will not go up, but he doesn't seem willing to keep the bush tax cuts, therefor raising taxes.
If I make the same amount this year and next, and I pay $4000 this year and $7600 next year, didn't my taxes go up?
LDS Mom
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He said he would.
Therefore he lied. ALL AMERICANS WILL HAVE THEIR TAXES GO UP. Not the over 250,000.00 people.
PS my husband and I make 100,000 a year together and we are losing our tax breaks.
?
Yes. Happens all the time. Increase taxes and people spend less. The Democrats don't seem to grasp that or simply want that guaranteed cash. They certainly don't care about how I feel when I can barely pay my taxes in NY State. BTW: the top 5% means anyone over 145K, not 250K. I wish the media would question this. They also pay most of the Federal budget NOW, but for some reason everyone is fine with "other" people paying the bill. Never mind how much effort goes into making 145K+. Don't forget he plans to increase capital gains taxes and payroll taxes (over 250K). Let's do the math on that one: Payroll tax for the self employed is 13.5% if you make $1 Million (I wish), you will have to pay an additional $101,250 in tax. Don't forget the $400,000K these folks already pay (Liberals love to ignore net income). That's half just for federal. State is 7%, so another35-50K, and property taxes are 30-40K for these folks. Nice living, but holy cow. There you have it. Socialism. Watch how these people move their money off shore. That should create jobs. Edit: of course Obama's plan will bring in more revenue on paper! These people pay all the taxes. The bottom 50% in this country pay 3% of the federal budget. Those analyses don't account for economic activity.
Anonymous
of course! He will essentially raise taxes but he can claim he's not raising taxes on the middle class. Barry is full of crap!
Circe
That is what I have heard him say.
I will lose $2000 in tax credits for my children.
The Bush tax cuts applied to everyone not just the wealthy. Where do these people get their information?
Boy are you stupid Erin,
Canada? Why don't all of you tax and spend lovers move there. That makes more sense as that is what the Canadians do.
Anonymous
He wants to let the tax cuts expire so he can pass his own tax cuts, yes. His tax cuts are different than the cuts Bush passed, they affect different income levels differently.
(Bush's benefitted the wealthy, Obama's will help the middle class.)