“It is another kick in the gut to middle-class families.”

Mitt Romney on the June jobs report.

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vstillwell
vstillwell

Yes it was. So were those Bush tax cuts, the Iraq war, deregulation of Wall Street and Citizens United. 

paulejb
paulejb

No matter how you slice it, this is dreadful news for the "one." Fair or not a president's fortunes are determine by the economy. But this time, it is this president's policies which have caused the stagnation we are suffering now.

53underscore3
53underscore3

"But this time, it is GOP's obstructionism which has caused the stagnation we are suffering now."

There, corrected it...

sacredh
sacredh

Speaking of kicks to the gut, Ray Allen is going to sign with the Heat for half the money the Celtics offered him. Rajon Rondon and Allen were at each other's throats all year long. Danny Ainge tried to trade Allen a few times including once calling him to tell him that he'd been traded and then having to later call him back and say the deal didn't go through.

.

Revenge is sweetest when served cold.

anon76returns
anon76returns

That's definitely closer to the nuts than the gut.

sacredh
sacredh

Mitt: Obama is such an amateur. I kick them them in the nuts and drop them where they stand.

Sue_N.
Sue_N.

"So elect me and I'll cut taxes on the wealthy, take away your health care, outsource your jobs and raise the cost of your kids' education. It'll be great. For some of us."

paulejb
paulejb

Sue_N,

I have an idea. Why not get everyone in the game rather than have half sitting on the sidelines?

http://blog.heritage.org/wp-co...

vstillwell
vstillwell

So, you support handing more wealth over to the top and taxing low income earners more? Yeah, that's a winner. Great thinking there, chief. If only those households making ends meat payed more taxes, the world would be a better place. That's about as sound as that stupid trickle down economics theory your little taxation scheme is based on. Take money out of working class pockets and give it to the wealthy because they are better with money. Just STFU. 

Sue_N.
Sue_N.

And do this how? By ending the (Bush) Child Tax Credit? Repeal the Bush tax cuts? Give seniors a lower standard deduction or tax them on their full SS benefits? Give non-seniors a lower standard deduction? Because these are the reasons those households don't pay income taxes. (They do, however, pay payroll taxes, sales taxes, property taxes and such.)

You're talking about raising taxes on middle- to low-income families and seniors living on fixed incomes. Those are the people "not paying taxes." That's really what you want to do? You who whines incessantly about Obama enacting "the largest tax hike in the history of the world"? Who frets about "tax and spend Democrats"?

Yeah, Willard should totally run on that. It'd be a real winner for him.

Sue_N.
Sue_N.

Nice chart. Now here's the explanation that should accompany it, from Ezra Klein at WaPo:

“A new report (pdf) from the Tax Policy Center breaks it down. In 2011, about 46 percent of households won’t pay income taxes. For about half of them, the standard provisions of the income tax wiped out their liability. If you don’t make any money but you take a standard deduction and have a few dependents, you’re not going to pay any income tax. Roberton Williams, one of the report’s authors, gives the example of ‘a couple with two children earning less than $26,400. They get an $11,600 standard deduction and four exemptions of $3,700, and that takes their liability to zero.’ As he says, ‘the basic structure of the income tax simply exempts subsistence levels of income from tax.’“For the other half, various tax expenditures wipe out their liabilities. Elderly tax benefits are the biggest player here. They get an extra standard deduction, an exemption for some Social Security benefits, and more. Then come various tax credits for children -- for instance, the Child Tax Credit in the Bush tax cuts -- and the working poor. And then come a lot of smaller credits that you can read about in the paper. But the basic story here is that once you've added together the standard features of the tax code and the tax expenditures for the elderly, poor and young, you've explained almost everyone who doesn't pay taxes.”More, including charts, graphs and links at http://www.washingtonpost.com/..., are you advocating getting rid of the Child Tax Credit? That seniors get a smaller standard deduction or pay taxes on their full SS benefits? Lower the standard deduction for non-seniors? You keep harping on this, so what, exactly, do you propose?

Sue_N.
Sue_N.

Nice chart. Now here's the explanation that should accompany it, from Ezra Klein at WaPo:

“A new report (pdf) from the Tax Policy Center breaks it down. In 2011, about 46 percent of households won’t pay income taxes. For about half of them, the standard provisions of the income tax wiped out their liability. If you don’t make any money but you take a standard deduction and have a few dependents, you’re not going to pay any income tax. Roberton Williams, one of the report’s authors, gives the example of ‘a couple with two children earning less than $26,400. They get an $11,600 standard deduction and four exemptions of $3,700, and that takes their liability to zero.’ As he says, ‘the basic structure of the income tax simply exempts subsistence levels of income from tax.’“For the other half, various tax expenditures wipe out their liabilities. Elderly tax benefits are the biggest player here. They get an extra standard deduction, an exemption for some Social Security benefits, and more. Then come various tax credits for children -- for instance, the Child Tax Credit in the Bush tax cuts -- and the working poor. And then come a lot of smaller credits that you can read about in the paper. But the basic story here is that once you've added together the standard features of the tax code and the tax expenditures for the elderly, poor and young, you've explained almost everyone who doesn't pay taxes.”More, including charts, graphs and links at http://wapo.st/OiaDFDSo, are you advocating getting rid of the Child Tax Credit? That seniors get a smaller standard deduction or pay taxes on their full SS benefits? Lower the standard deduction for non-seniors? You keep harping on this, so what, exactly, do you propose?

Sue_N.
Sue_N.

I know you're not interested in facts, but from Ezra Klein, in August, 2011:

A new report (pdf) from the Tax Policy Center breaks it down. In 2011, about 46 percent of households won’t pay income taxes. For about half of them, the standard provisions of the income tax wiped out their liability. If you don’t make any money but you take a standard deduction and have a few dependents, you’re not going to pay any income tax. Roberton Williams, one of the report’s authors, gives the example of “a couple with two children earning less than $26,400. They get an $11,600 standard deduction and four exemptions of $3,700, and that takes their liability to zero. As he says, “the basic structure of the income tax simply exempts subsistence levels of income from tax.”

For the other half, various tax expenditures wipe out their liabilities. Elderly tax benefits are the biggest player here. They get an extra standard deduction, an exemption for some Social Security benefits, and more. Then come various tax credits for children -- for instance, the Child Tax Credit in the Bush tax cuts -- and the working poor. And then come a lot of smaller credits that you can read about in the paper. But the basic story here is that once you've added together the standard features of the tax code and the tax expenditures for the elderly, poor and young, you've explained almost everyone who doesn't pay taxes.

The rest, including charts and graphs links, is here: http://wapo.st/OiaDFD 

Sue_N.
Sue_N.

Oh, you're back to that, are you? Fine, I see your Heritage chart (with no explanation, btw), and raise with some facts:

A new report (pdf) from the Tax Policy Center breaks it down. In 2011, about 46 percent of households won’t pay income taxes. For about half of them, the standard provisions of the income tax wiped out their liability. If you don’t make any money but you take a standard deduction and have a few dependents, you’re not going to pay any income tax. Roberton Williams, one of the report’s authors, gives the example of “a couple with two children earning less than $26,400. They get an $11,600 standard deduction and four exemptions of $3,700, and that takes their liability to zero. As he says, “the basic structure of the income tax simply exempts subsistence levels of income from tax.

For the other half, various tax expenditures wipe out their liabilities. Elderly tax benefits are the biggest player here. They get an extra standard deduction, an exemption for some Social Security benefits, and more. Then come various tax credits for children -- for instance, the Child Tax Credit in the Bush tax cuts -- and the working poor. And then come a lot of smaller credits that you can read about in the paper. But the basic story here is that once you've added together the standard features of the tax code and the tax expenditures for the elderly, poor and young, you've explained almost everyone who doesn't pay taxes.

If you're interested, and I know you're not, you can read the rest at http://www.washingtonpost.com/...

dunedweller
dunedweller

... and another kicks 'n giggles to republicans!

Ivy_B
Ivy_B

Don't reverse; fast forward.

pollardty
pollardty

“It is another kick in the gut to middle-class families."

It reminds me of a funny story about the time our dressage horse kicked our stable boy in the gut. We laughed so hard, perrier water came out our noses.   -Mitt Romney

NicHautamaki
NicHautamaki

"... of course then we had to let him go.  I like the fact that I can fire those who provide services to me. "

Hollywooddeed
Hollywooddeed

Coming from you, Willard, this is laughable.

allthingsinaname
allthingsinaname

 Repeal of ACA, Continued Tax break for the wealthy, privatizing SS, Shipping Jobs overseas, ( Mr successful businessman ), Attacking middle class teachers, Fire men, police officers, minimum wage, less support for middle class schools, less opportunity for middle class upper education, don't support middle class jobs such as bail out of auto companies.

Mitt I have no real plan, I do not understand you, I think it is funny, entitled Romney.

MrObvious
MrObvious

What, Romneys bain capital days or what?

deconstructiva
deconstructiva

Mitt must be reminiscing. Ah, the good ol’ days of buying companies and firing workers…

gingerpye
gingerpye

Yeah, I wonder how many middle class families felt that kick in the gut after Mitt and his buddies got through with them.