$1.6 trillion

— The amount of revenue President Obama is seeking to raise by taxing corporations and the wealthiest Americans, according to a report in the Washington Post.
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41 comments
superlogi
superlogi

Just another barrel full of BS from the master BS'er.  There is, numerically, no possibility that a 4% tax increase on the top 2% of wage earners, shafting consumers, investors and business owners will equal $1.6 trillion, which is, by the way, about 11% of GDP, particularly when we already know about new "investments" Barry and his merry band of redistributionists plan to spend.  It's a joke which on its face is an obvious lie.  He really is a weasel.

MrObvious
MrObvious

100% - the chance that GOP won't take the deal because they're not into the whole fiscal thingy. It's a scam to blow money on shit that ironically blow up.

fitty_three
fitty_three

I liked what Obama said.

I was glad he was confronted with the question about his last cave in.  This time, though, I expect him to hold the line.

paulejb1
paulejb1

Ed Koch also summed up this election with the comment that: "The people have spoken - and they must be punished."

paulejb1
paulejb1

Not everyone was a victim of Sandy.

"In Sandy response, some Red Cross, FEMA workers stayed in plush NYC hotel"

"Representatives for the American Red Cross and the Federal Emergency Management Agency said they have placed workers at the Soho Grand since the storm, paying a discounted nightly rate of $310 a room.By the time Red Cross staffers check out of 45 rooms at the Soho Grand, its tab at the boutique hotel will have run to about $181,000, said spokeswoman Laura Howe."

Read more: http://www.foxnews.com/us/2012/11/14/in-sandy-response-some-red-cross-fema-workers-stayed-in-plush-nyc-hotel/#ixzz2CE2cx9IC

Hope they had a pleasant stay.

paulejb1
paulejb1

Jedediah Bila‏@JedediahBilaIf you're still wondering why Obama won reelection, the media questions so far should help you figure that out.

Hat tip to Jedediah for having the stomach to actually watch Obama's briefing of his biggest supporters.

fhmadvocat
fhmadvocat

With all due respect to the President.  If he thinks he can get that much money from just raising taxes on the rich and on corporations he is crazy.  He will never get anything like that through a Republican House.  Letting the Bush tax cuts expire on those over $250K only get you $80 billion.  The only way is to get rid of tax loopholes that so many of us enjoy.  Now, I believe you can raise money by going after the rich who use the tax system to pay nothing or next to nothing, but there is talk about limiting deductions which affects those making a little as $100K a year.

It is okay to try to raise revenue when things are going well, like the first few years of the Bush administration.  However, when times are tough and we need consumer spending, raising taxes of those who actually pay, is a bad idea.

paulejb1
paulejb1

Subtracting $160 billion annually from a private economy which is on life support is a policy that only a neo-Marxist fanatic could love. Good luck with that, people.

S_Deemer
S_Deemer

You left out the time period: President Obama wants $1.6 trillion in new tax revenue over a decade in any package to reduce the deficit. If I didn't miss a decimal place, that works out to 160 billion a year. Hardly chicken feed, but not all that alarming.

outsider
outsider

Ah hell yeah. Make the GOP pay for not wanting to bargain in good faith the first time around. 

fitty_three
fitty_three

@superlogi  

Cheer up.  It's only 41% the size of of the GOP debt. 

Toss the Great Recession in and you're selling, what?

Poo.  Yes.  That's it.  You're selling poo.

roknsteve
roknsteve

Ten years of tax breaks for big corporations and the very wealthy.  

And none died or went broke- they are very healthy.

And now it's time they paid their way.

No more free rides today.    

outsider
outsider

@paulejb1 

Heaven forbid anyone have any other thoughts. 

And yet the right accuse Obama of wanting to curtain freedom.. 

It's astounding. 

So is the fact that you celebrate the comments. 

Ed Koch. Punish him for interference in the elections. 

See if he sings the same tune. . 

MementoMori
MementoMori

@paulejb1  

Yes, everyone listen to paulie. Sure, he was wrong about the election. Wrong about Bengazi. Wrong about his 'unreported race war'. Wrong about pretty much every thing he's criticized or advocated.

 But I'm sure he's right this time. He's due.

PaulDirks
PaulDirks

@paulejb1 paulie is shocked to learn that political power is not allocated by acreage!

grape_crush
grape_crush

> If he thinks he can get that much money from just raising taxes on the rich and on corporations he is crazy.  He will never get anything like that through a Republican House. 

I think back on all the times over the past four years where I've b*tched about Obama starting off in the middle when beginning negotiations.

He should have started out higher, and with the goal of taxing cap gains as regular income if taken before retirement.

paulejb1
paulejb1

@fhmadvocat ,

I understand that there are a trillion dollars each year in tax deductions. Surely there is room there for some increased revenue. Tax policy as social engineering was a poor idea anyway.

forgottenlord
forgottenlord

@fhmadvocat Does raising taxes on the rich actually significantly impact consumer spending?  Middle class, sure, but the rich?

TyPollard
TyPollard

@outsider2011 

Not to mention the vast support this has from...you know...the American public.

It's also good math. 

Remember math? 

It was a winner this last election.

superlogi
superlogi

@53_3 @superlogi The Obama debt in just the last four years is about 10% of the Gross Domestic Product.  And with all that stimulus juicing the economy we have unemployment greater than when your fool took office with a dollar to show for every five dollars borrowed.  The fact is,  you fu**** yourself when you voted for this buff00n and you deserve him.

fitty_three
fitty_three

@La_Randy @53_3  

I think that if Obama had not had his hands tied, the economy would be much better shape now and, with higher taxes already in place for the wealthy, and the public health care option available, we would probably be running smaller deficits by now.

I bolded the issue of the public option because we would now be transitioning toward UHC, which I think is the only possible way to control health care costs.

grape_crush
grape_crush

"Frequently wrong, but never in doubt."

fitty_three
fitty_three

@MementoMori 

paulejb is never "wrong". Wrong implies error, and when paulejb lies, it's not by chance.

fitty_three
fitty_three

And still, for all that ranting, it's only 41% of the GOP debt.

And 2008 was the year the Great Recession started.  Sorry, you just can't move that date...

fitty_three
fitty_three

@superlogi

You can't do numbers and you can't do reason.  What year did the Great Recession begin?

A bit of sour grapes?