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Since Obama insists that rates rise, and they are, what’s the problem?

Since Obama insists that rates rise, and they are, what’s the problem?

Today seems like a slow fiscal cliff news day, after the drama of the past couple of days.

The only news seems to be that Obama is digging in on marginal tax rates:

President Obama on Tuesday rejected a GOP offer for avoiding the so-called fiscal cliff and underscored his refusal to accept any deal that does not increase income tax rates for top earners.

In his first interview since reelection, Obama said the Republican plan offered Monday was “out of balance” and acknowledged that talks between the president and congressional Republicans were hung up on the tax rate dispute.

“We’re going to have to see the rates on the top 2% go up. And we’re not going to be able to get a deal without it,” Obama told Bloomberg Television.

What’s left unsaid in all this is that tax rates on the “rich” are going up via Obamacare:

The U.S. Internal Revenue Service has released new rules for investment income taxes on capital gains and dividends earned by high-income individuals that passed Congress as part of the 2010 healthcare reform law.

The 3.8 percent surtax on investment income, meant to help pay for healthcare, goes into effect in 2013. It is the first surtax to be applied to capital gains and dividend income

Released late on Friday, the new regulations include a 0.9 percent healthcare tax on wages for high-income individuals…

Together, the two taxes are estimated to raise $317.7 billion over 10 years, a ccording to a J oint Committee on Taxation analysis released in June.

Since Obama insists that rates rise, and they are, what’s the problem?

Why can’t he take “tax rate hike” for an answer?

Because it’s not about rates or revenue. It’s about “fairness” and the deep emotional desire to get even with those who, he thinks, have taken advantage.


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The prof blurted: “Why can’t he take “tax rate hike” for an answer?”

Heh… All I can say is that O’bammy said on national TV that he had trouble with math beyond the elementary school level.

Y’suppose that might be part of the answer?

Methinks that it’s connected..

Freddie Sykes | December 4, 2012 at 6:09 pm

Obama’s style of negotiation is to demand everything he wants or he will bring great harm to the country / economy. What is the incentive to deal with him? Sooner or later there will come a point where we simply cannot give in to him. Why wait? Let him play his Armageddon card now rather than reserve it for the next crisis.

All of Obama’s actions are pure shenanigans, a brute power play to split the Republican Party and produce disagreements in the Right leading into 2014. He has no intent to face these problems in good faith. The White House won’t even try to govern in the next two years. This is the opening salvo of Campaign 2014. The Dems are going all in, gambling that they can split the GOP and win back the House and hold on to the Senate.

And so far, it appears to be working, we already have all kinds of bombs being thrown from the Right at Boehner. The RINO Hunters are sharpening their blades. What we need more than ever is confrontational government. Sadly Boehner won’t be delivering. Had Romney been confrontational he likely would be president.

This gambit by Obama ONLY works if WE allow it to. If we remain united, he loses. But if we cede to him, we lose. He intends to cause open civil disobedience via both racial and class differences.

Right now this is much more serious for the GOP than most people are letting on. It’s gone beyond the goods and bads of the policies in question. This mess is going to be patched and repatched for the next two years no matter what. As long as Bernanke keeps the printing presses running, there won’t be another recession and there will be no sense of urgency to stop the borrowing.

There isn’t going to be any grand bargain or any meaningful entitlement reform as long as Barack Obama is President. The only thing we can do is play good defense and at least keep the House and perhaps win the Senate.

The answer is obvious, he doesn’t want a deal. More importantly, he is trying to train Republicans to do exactly as he says or he will hold the country’s breathe until they do…

Did anybody read how Obama is asserting the economy is “poised to take off”? As ludicrous a remark as could ever be made — so ludicrous it would be too awkward for anybody in the media to challenge it. But this is how these Chicago scum play the Narrative game. He’s setting up the collapsing economy (obviously based on Obamacare and the imminent taxmeggadon) as the fault of Republicans no matter what comes out of the deal they make. Will one Republican call a press conference and deconstruct this ridiculous and deceptive statement and mock Obama, i.e., uproot the budding Narrative? Yeah, sure.

“Because it’s not about rates or revenue.”

Correct. It isn’t about those things at all. It is about a class war, and a way to try to destroy opposition.

We know…objectively…that wealthy people are not going to remain static targets. They have options to avoid being screwed, and they will employ their genius, time, and talent…and what they an buy…to assure they keep what they earn.

We’ve see it in England and in France.

People around Obama are not stupid about economic verities.

Obama just does not care about economics. He cares about destroying America as it was.

I’m still trying to take advantage.

One definitive way to cut expenses is to stop giving aid to Pakistan, Afghanistan, Greenenergy-istan, GM-istan, UN-istan et al.

Please give him (and the American people) everything that he asks for – tell him to submit a budget, and the Republicans will let it pass, voting ‘present’. Then lines of responsibility will be clear, and I hope we will have a short, deep disaster that we can recover from in 2016. Vs. a never-ending disaster like Japan has had for 20+ years.

Take your pick – it’s going to happen one way or another. Nobody seems to be denying that it will.

It’s not ‘fairness’, Obama wants punishment. Punish all those folks who worked hard and bought a car, a house, lived in a 2 parent household where both parents worked, etc. etc. He was stuck being raised by lefty surrogates, getting a little red book for Christmas while his schoolmates got stereos or basketballs.

Now he’s the grand poo-bah, el presidente, and we’re all gonna pay. Of course it’s not about him, it’s the inequality and unfairness in the country, but we’re on to him… Raising taxes is just a start, once he has his pound of flesh from these republicans there’s no telling what he’ll do next.

    radioone in reply to Chicklet. | December 5, 2012 at 11:01 am

    “Punish all those folks who worked hard and bought a car, a house”. The whole country is getting a hard lesson in what “Community Organizers” really do. Jesse Jackson has been “shaking down” corporations for years. Obama gets to do it on a national scale.

The biggest thing I think will be letting both the Cap Gains and Death Taxes go up. This will really mess with the economy.

I’m so glad you posted this. I thought it would come up in the MSM after the story about the new IRS rules headlined Drudge on Monday. It seems like a good question for the WH at today’s press briefing.

Someone needs to ask Obama what the deficit will be after his taxing proposals. He plans to spend more than he ever gets from new taxes. Obama must beforced to accept any increase in the deficit.

Because that was so last year when I suggested it…

Obama 2011: We can get $1.2 trillion in revenues without raising tax rates

This video of Obama in 2011 is making the rounds online. In it he argues that up to $1.2 trillion in revenues could be raised by closing loopholes and limiting deductions in the tax code. More importantly, he signals that it can all be done without raising tax rates.

Down the memory hole we go… WEEEEEEEEEEEEE!