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Obama: More Tax Increases to Come

Posted by on Jan. 2, 2013 at 11:58 PM
  • 52 Replies

Obama: More Tax Increases to Come

BERT ATKINSON JR. JANUARY 2, 2013 10:48 AM 

Just because a few rates got raised on the ‘wealthy' does not mean Congress is finished. President Obama gave this warning on Tuesday:

We can't simply cut our way to prosperity. Cutting spending has to go hand-in-hand with further reforms to our tax code so that the wealthiest corporations and individuals can't take advantage of loopholes and deductions that aren't available to most Americans. And we can't keep cutting things like basic research and new technology and still expect to succeed in a 21st century economy. So we're going to have to continue to move forward in deficit reduction, but we have to do it in a balanced way, making sure that we are growing even as we get a handle on our spending . . .

Today's agreement enshrines, I think, a principle into law that will remain in place as long as I am President: The deficit needs to be reduced in a way that's balanced. Everyone pays their fair share. Everyone does their part. That's how our economy works best. That's how we grow.

We can't simply cut our way to prosperity? HA! We can't tax our way to prosperity either, Mr. President. And you think this was balanced? HAHAHA! As Kyle Becker pointed out, the new fiscal cliff deal has $41 in tax increases for ever $1 of spending cuts. What about that says balance?

Obama is correct in saying that we need to reform the tax system to rid it of unnecessary loopholes, deductions, and shelters, but why couldn't, ya know, the president and Congressaddress this before? Craziest idea you may hear today: It's like he was just chasing tax rates with no concern for the bottom line.

As GE pays virtually nothing in federal taxes on billions in profit and the companies propped up by the stimulus continue their outstandingly horrid performance, it has never been more clear that Congress needs to start being responsible in so many ways. Their little ‘compromise' that no one likes is downright laughable in that it does nothing to lower the deficit - it only saves the economy from being slowed down by avoiding the across-the-board tax hikes.

Republicans clearly couldn't tell when a decent deal was in front of them, they were too divided to get anything substantial done, and now Democrats get the majority of what they wanted. Expect future tax/entitlement reform negotiations to go just as well with the crowd of loons in Washington as the fiscal cliff negotiations did.

by on Jan. 2, 2013 at 11:58 PM
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Replies (1-10):
29again
by Gold Member on Jan. 3, 2013 at 1:31 AM
7 moms liked this

OK, we got some tax increases.  Fine, whatever.  Now, can we get some spending cuts in there BEFORE we jump straight to more and more taxes?  Could we give that a try, at least?  I'm so sick and tired of the left promising to get to the cuts  ~~ LATER.~~   When will later get here?  When WILL we get serious about the debt and deficit, and make some meaningful cuts in the budget?  Or even better, WHEN will we even get a budget?!!

Simmeringhearts
by on Jan. 3, 2013 at 8:50 AM
1 mom liked this

Obama only knows one way - TAX, TAX, TAX! No one should be surprised! Well, maybe for those that actually believed Obama only wanted to tax the wealthy!

Carpy
by Platinum Member on Jan. 3, 2013 at 8:54 AM

Those loopholes and deductions that are not available to most Americans are not available because they are not business owners.  That argument is a scam.

Billiejeens
by Ruby Member on Jan. 3, 2013 at 8:58 AM

We just voted, we just voted, we just voted.

We voted for more taxes, there are no cuts even proposed.

 

29again
by Gold Member on Jan. 3, 2013 at 9:08 AM


Quoting Carpy:

Those loopholes and deductions that are not available to most Americans are not available because they are not business owners.  That argument is a scam.

No, carpy...  so it ain't so!! 

Those loopholes aren't available because most Americans aren't *WEALTHY* (I assume part of the supposed 1%?).  Obama said so!  So it must be the truth.  He surely would not lie to us............


~eyeroll~

imamomzilla
by on Jan. 3, 2013 at 9:14 AM
2 moms liked this

 *groan*

The majority won, we all lose.

29again
by Gold Member on Jan. 3, 2013 at 9:17 AM
2 moms liked this


Quoting imamomzilla:

 *groan*

The majority won, we all lose.

Dontcha know, that is how it works in a democracy.....  so I've been told.

Farmlady09
by Silver Member on Jan. 3, 2013 at 1:46 PM
2 moms liked this

Don't hold your breath ... that isn't on the agenda for another 4 years.

Quoting 29again:

OK, we got some tax increases.  Fine, whatever.  Now, can we get some spending cuts in there BEFORE we jump straight to more and more taxes?  Could we give that a try, at least?  I'm so sick and tired of the left promising to get to the cuts  ~~ LATER.~~   When will later get here?  When WILL we get serious about the debt and deficit, and make some meaningful cuts in the budget?  Or even better, WHEN will we even get a budget?!!


gsprofval
by Gold Member on Jan. 3, 2013 at 3:35 PM
1 mom liked this

And obummer has decided there will be no spending cuts and he wants to raise the deficit.

obummer must be taken out of office soon.

erika9009
by Silver Member on Jan. 3, 2013 at 3:40 PM
1 mom liked this

It appears more and more like he is out to destroy what we have so he can "fix" it.  Or, put in "his way" of doing things.   Someone needs to look up fascist.

Quoting gsprofval:

And obummer has decided there will be no spending cuts and he wants to raise the deficit.

obummer must be taken out of office soon.


____________________________________________________

Erika..

Children are a blessing and are never inconvenient.............

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