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Edited by Mrph1 on Nov 30th 2023 at 11:03:59 AM
A lot of Democrats are confused
by that statement, esp. since the Obama team really didnt no anything to clear up the confusion afterward. My take is that Obama is keeping his options open, in case he needs bargaining chips in the negotiations. Look for an increase in the retirement age, an adjustment of benefits, or both.
Of course, Social Security is relatively easy to fix. Ending the payroll tax cap which exempts every dollar made over $106,800 from payroll taxes would do it (which would not technically be "raising rates").
edited 14th Nov '12 5:39:19 PM by DeMarquis
I'm done trying to sound smart. "Clear" is the new smart.Because the Republicans don't want to.
The issue is that they don't even have to do this though. The fiscal cliff will raise their rates anyway. Just pass a bill that lowers the middle class tax rate so the net effect of the cliff will be negative (let's see the GOP try and vote against a middle class tax cut) and fall off. Social programs are a problem but we'll cross that bridge afterwards. First we need to make the GOP realize they're serious now.
edited 14th Nov '12 5:39:55 PM by Kostya
Starship: Social programs are getting cut too to make the budget balanced. We need to deal with that too but let's focus on keeping the middle class from getting squeezed first.
Logically it shouldn't but what do I know. Apparently a 10% tax rate isn't enough. Honestly I'd like to see a rise of 20% or so for most making several million but I'll take what I can get.
Considering that he was for the Buffet rule, I don't think Obama personally is against raising taxes on himself. That and he's been recorded saying that he wants to raise taxes on incomes over $250k. And he's from a working class background himself, so he knows how much raising taxes can help the lower classes.
Seriously, he isn't even that rich now, he's only making a lot because he managed to land the presidency. He's no trustfund baby or corporate manager kind of rich.
![]()
2012 Financial disclosure forms calculate that Obama's net worth is between $2,801,012 and $11,830,000
. His annual salary is $400,000. He also has access to "a $150,000 expense account, as well as a $100,000 tax free travel account and $20,000 entertainment budget". I'd say that's pretty rich.
The social programs are off the table as far as I'm concerned. If you wanna cut something during a recession, cut the defense industry.
edited 14th Nov '12 5:54:58 PM by Serocco
In RWBY, every girl is Best Girl.![]()
I don't want to. That's mostly the GOP and maybe Obama but I'm not sure if he's doing that because it's what he feels or if he's just trying to compromise.
...and? What does it matter if he's rich? That doesn't automatically mean he opposes tax raises for himself. The Buffet rule has it's name for a reason.
edit: Good luck getting military cuts past the GOP.
edited 14th Nov '12 5:56:02 PM by Kostya
@Starship: Yes, during a recession, which according to Keynesian economics is not a good idea. However, the problem is that according to government projections
the federal debt is expected to balloon over the next several decades, and fiscal conservatives are pushing very hard to do something about it.
Basically Republicans in office think Medicare, Medicaid, and Social Security encourage laziness.
Family members I have who are on the three would much prefer to be working, but, major illness is a thing.
edited 14th Nov '12 5:59:37 PM by PotatoesRock
"The deficit which is caused almost entirely by ridiculously low rates and an asinine military budget."
Specifically the Bush era tax cuts and the invasion of Iraq, yes. Still, the deficit is there, and in fact we do have to do something about it.
I'm done trying to sound smart. "Clear" is the new smart.Forget the deficit. I don't care about the deficit. It'll always exist. Always. Especially with the bloated defense budget, which will never get cut.
Focus less on the deficit and more on removing money's influence in politics, because that's how we can fix things around here.
edited 14th Nov '12 6:03:27 PM by Serocco
In RWBY, every girl is Best Girl.

The argument is "Well, life expectancy has increased-" but the reality is life expectancy has remained static for lower income Americans.