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Obama's budget to increase taxes and continue spending

Discussion in 'BBS Hangout: Debate & Discussion' started by bigtexxx, Feb 13, 2012.

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  1. bigtexxx

    bigtexxx Member

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    Tired, thoughtless budget being put forward by Obama today. Increase taxes and don't bother to make the tough decisions on spending cuts. Can we please replace this guy with somebody who can THINK? :rolleyes:

    http://www.bbc.co.uk/news/world-us-canada-17014744

    Obama budget plan to tax the rich

    US President Barack Obama will seek to raise taxes on the wealthy as he unveils his budget later, prompting an election year fight with Republicans.

    The spending plan includes $1.5 trillion (£950bn) in new taxes, much from allowing Bush-era tax cuts to expire.

    He will also call for a Buffett Plan tax hike on millionaires and job-creating infrastructure projects.

    The plan must be agreed between the White House and Congress.

    Mr Obama will address students at a college in Virginia on Monday morning as he outlines his 2013 budget proposal to Congress.
    Dead on arrival?

    The BBC's Steve Kingstone says the budget will offer a clear contrast between Mr Obama's vision and that of Republicans.

    At its core will be the idea that the wealthiest Americans should pay more in tax and that, in the short-term, a chunk of that extra revenue should be spent on job creation, manufacturing and upgrading the nation's schools.

    But Republican leaders, who portray Mr Obama as a tax-and-spend liberal stoking class warfare, have already pronounced the budget dead on arrival.

    Mr Obama's plan to allow George W Bush-era tax cuts to expire would affect families making $250,000 or more per year.

    The president would also put in place a rule named after billionaire Warren Buffett to tax households making more than $1m annually at a rate of at least 30%.

    In a populist touch, over the next decade, the plan would levy a new $61bn tax on financial institutions, in an effort to recover the costs of the financial bailout, while raising a further $41bn by cutting tax breaks for oil, gas and coal companies.

    Republicans have been railing against the budget, which would spell the fourth year in a row of trillion-dollar-plus deficits.

    The spending plan, which would take effect on 1 October, projects a deficit for this year of $1.33tn, with the amount shrinking to $901bn by 2013 and $575bn in 2018.

    Mr Obama will also propose more than $100bn in investments for transportation projects, revamps for tens of thousands of schools and for hiring of teachers and emergency service workers.

    The plan would seek to defer major spending cuts until the economy is on a more steady footing, a priority as Mr Obama seeks re-election in November.

    "I think there is pretty broad agreement that the time for austerity is not today," new White House chief of staff Jack Lew told NBC's Meet the Press on Sunday.
     
    #1 bigtexxx, Feb 13, 2012
    1 person likes this.
  2. B-Bob

    B-Bob "94-year-old self-described dreamer"
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    "bigtexxx's post to increase partisan rhetoric and continue GOP talking points."

    cleverly disguised "I am a millionaire" thread.
     
    #2 B-Bob, Feb 13, 2012
  3. leroy

    leroy Member
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    FIFY.
     
    #3 leroy, Feb 13, 2012
  4. ChievousFTFace

    ChievousFTFace Member

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    #4 ChievousFTFace, Feb 13, 2012
  5. SamFisher

    SamFisher Member

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    Good idea - this is exactly what we need. I would like to personally thank clutchfans.net poster BIGTEXXX for providing this information.
     
    #5 SamFisher, Feb 13, 2012
  6. bigtexxx

    bigtexxx Member

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    It's a tired, thoughtless approach. Obama is avoiding making the tough decisions about cutting spending and defaults to increasing taxes, like a typical liberal. :rolleyes:
     
    #6 bigtexxx, Feb 13, 2012
  7. ChievousFTFace

    ChievousFTFace Member

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    What would you propose cutting? Why not raise taxes on the rich AND cut spending? Would said cuts get passed through congress or would they be bastardized with social agenda attached to it?

    Less labeling, more problem solving.
     
    #7 ChievousFTFace, Feb 13, 2012
  8. mc mark

    mc mark Member

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    Under the White House plan, discretionary spending -- which generally means day-to-day government funding not including entitlement programs such as Social Security, Medicare and Medicaid -- is projected to fall from 8.7% of GDP in 2011 to 5.0% in 2022.
     
    #8 mc mark, Feb 13, 2012
  9. DonnyMost

    DonnyMost Member
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    lol someone must have put some extra spunk in biggie's coffee this morning.

    two obama rage threads and it's not even 9:30 yet.
     
    #9 DonnyMost, Feb 13, 2012
  10. QdoubleA

    QdoubleA Member

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    He's scrambling. His ship is sinking and he's posting whatever he can think of. Guys....bigtex is becoming toycen!
    I love the fox news talking point phrasing though. Saying "raising taxes" instead of "raising taxes on the rich" which is a huge difference. Try harder bro.
     
    #10 QdoubleA, Feb 13, 2012
  11. bigtexxx

    bigtexxx Member

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    It's indeed raising taxes

    Democrats tend to think very narrowly and cannot come up with more innovative solutions except for the tired, thoughtless approach of "hey, let's just raise taxes!"
     
    #11 bigtexxx, Feb 13, 2012
  12. QdoubleA

    QdoubleA Member

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    The connotation is indeed different and leaving out key words so it fits your point is a sign of political desperation, you should know that, you went to Rice. Taxing the rich/super rich properly hasn't been done in almost 10 years. That seems like a new strategy to me. Nono, "cut spending cut spending cut spending" is uber original. Try again brah.
     
    #12 QdoubleA, Feb 13, 2012
  13. ChievousFTFace

    ChievousFTFace Member

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    fify.
     
    #13 ChievousFTFace, Feb 13, 2012
  14. bigtexxx

    bigtexxx Member

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    new strategy

    google "class warfare"

    preesh brah
     
    #14 bigtexxx, Feb 13, 2012
  15. mc mark

    mc mark Member

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    Hey! I did and this was the first hit!

    Now, when I point this out, some of the Republicans in Congress say, ‘oh you’re engaging in class warfare.’ Let me tell you something. Years ago, one great American had a different view. I’m going to get the quote, just so you know I’m not making this up. A great American said that he thought it was ‘crazy’ that certain tax loopholes made it possible for millionaires to pay nothing, while a bus driver was paying ten percent of his salary.

    Alright. You know who this guy was? It wasn’t a Democrat. It wasn’t some crazy socialist. It was Ronald Reagan. It was Ronald Reagan. Last time I checked, Republicans all thought Reagan made some sense. So next time you hear one of those Republicans in Congress accusing you of class warfare, you just tell them I’m with Ronald Reagan. I agree with Ronald Reagan that it’s crazy that a bus driver pays a higher tax rate than some millionaire because of a loophole in the tax code. And by the way, I don’t mind being called a warrior for the working class. You guys need someone working for you.

    -- President Obama
     
    #15 mc mark, Feb 13, 2012
  16. QdoubleA

    QdoubleA Member

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    Uh-oh, fox talking point #2. Looks like I backed you into a corner if that's the best you can do "Well....this is class warfare! Yeah!". It's rich paying their fair share. I'll take this win. I'd like to thank all the people who helped me get this W. It's been a long journey over the past hour but we made it, we made it!
     
    #16 QdoubleA, Feb 13, 2012
  17. bigtexxx

    bigtexxx Member

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    "fair share"

    Euphemism for whatever King Barry decides?
     
    #17 bigtexxx, Feb 13, 2012
  18. Major

    Major Member

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    This seems like its going to hurt the previous GOP talking point that Obama never offers a budget.
     
    #18 Major, Feb 13, 2012
  19. mc mark

    mc mark Member

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    McConnell likes it so much, he's going to bring it to the floor himself for the vote!
     
    #19 mc mark, Feb 13, 2012
  20. QdoubleA

    QdoubleA Member

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    Nope, paying the amount in your tax bracket is your fair share. Rich/super rich paying in the 15 percent tax bracket is ridiculous. But I'm sure you knew that. Once again you can't argue the point with me so you try some more "King Barry, Nobama the Tyrant" BS with nothing at all to back it up. I was wrong before, you're not turning into toycen, you're turning into esteban. And stop handing me these wins, my pockets are full brah.
     
    #20 QdoubleA, Feb 13, 2012
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