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Old 07-01-2011, 11:51 AM
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Obama Picks Fight Over Taxes

Obama Picks Fight on Taxes, Big or Just Symbolic

Updated: Friday, 01 Jul 2011, 8:19 AM CDT
Published : Friday, 01 Jul 2011, 8:19 AM CDT

STEPHEN OHLEMACHER,Associated Press

WASHINGTON (AP) - President Barack Obama is renewing an old fight with the business community by insisting that $400 billion in tax increases be part of a deficit-reduction package. His proposals have languished on Capitol Hill, repeatedly blocked by Republicans, often with help from Democrats.

Some would raise big money. For instance, limiting tax deductions for high-income families and small business owners could raise more than $200 billion over the next decade. Others are more symbolic, such as scaling back a tax break for companies that buy corporate jets. That would raise about $3 billion.

Republicans oppose them all, arguing that raising taxes in a bad economy would only make matters worse. GOP leaders want to limit negotiations to spending reductions.

Read more: http://www.myfoxhouston.com/dpps/new...#ixzz1Qria9Mxp

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Old 07-01-2011, 11:53 AM
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Re: Obama Picks Fight Over Taxes

Doesn't make sense to me that the wealthy get tax deductions and the poor get the finger.

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Old 07-02-2011, 01:18 AM
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Re: Obama Picks Fight Over Taxes

Nobody like taxes, but you can't spend money you are not taking in...... taxes are at their lowest level in 50 years, and the debt tells the tale of what is happening.
And yeah, there is something seriously fucked up when a company like GE can makes billions in profits and pay no taxes....

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Old 07-02-2011, 02:57 PM
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Re: Obama Picks Fight Over Taxes

Businesses don't pay taxes, the customers do.

When taxes are increased, the price to do business gos up, the consumer either pays more for the same amount of product (which hurts the consumer's amount of capital on hand), or purchases less of it (which reduces the businesses sales which leads to either wage reductions or lay-offs).


Just as supply and demand must be balanced out for success in an enterprise, so to must the level of taxes be balanced out. Too little taxing, and the government can't function due to lack of revenue; Too much taxing, and no one will work as they will see no benefit in trying to increase their lot in life.




Just remember, Robin Hood didn't steal from the rich to give to the poor; he stole from the government that was taxing the poor to give back what was "legally" stolen.

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Old 07-03-2011, 05:09 AM
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Re: Obama Picks Fight Over Taxes

Maybe give communism another try? It does work when there is no corruption.

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