JFlorio wrote:
First off the ten trillion may or may not be true. I'm sure it's a CBO estimate which are almost never accurate. Can't be because they can only use the numbers given them at a particular point in time. They do not take into account upturns or downturns in the economy. I am always outraged it seems, when whomever's budget gets passed. Nothing but a bloated vote buying scheme. Running a business and a government are different. Doesn't mean you can't run the economy into the ground if the governments policies are bankrupting the nation. Just because the big three are not in the discretionary budget doesn't mean they shouldn't be looked at. It's that kind of thinking that has us in this mess. I guess you are an expert on the military, how ever I have multiple lifers in the family that say it's a mess. Do we have enough weapons to destroy the enemy? Of course. Do you want to go nuclear? We are weaker traditionally than we have been in decades. When the US does not project strength the world suffers. Is there waste in the military? You bet. Especially the bureaucracy. More bureaucrat's and staffers now than soldiers, sailors and airmen. Just so you know, Tax increases on the top earners accomplish very little. We cannot put a dent in the deficit with tax increase. Especially if said increase slow the economy. You, like most liberals did not name one program we cut but the DOD. No surprise there. By the way, you are a troll. The fact you don't know it makes you a clueless troll.
First off the ten trillion may or may not be true.... (
show quote)
Astute and accurate, yet, you can expect denial of and read what you suggest is exactly what the Republicans did and do whenever in control..
Results in the things Trump has already addressed and moving along is denied even yet..just look st the tax hikes BO put in place to fund Thur ACA...
Full List of Obama Tax Hikes
1. A 156 percent increase in the federal excise tax on tobacco: On February 4, 2009, just sixteen days into his Administration, Obama signed into law a 156 percent increase in the federal excise tax on tobacco, a hike of 61 cents per pack. The median income of smokers is just over $36,000 per year.
2. Obamacare Individual Mandate Excise Tax (takes effect in Jan 2014): Starting in 2014, anyone not buying “qualifying” health insurance – as defined by Obama-appointed HHS bureaucrats -- must pay an income surtax according to the higher of the following:
2014
1% AGI/$95
1% AGI/$190
1% AGI/$285
2015
2% AGI/$325
2% AGI/$650
2% AGI/$975
2016 +
2.5% AGI/$695
2.5% AGI/$1390
2.5% AGI/$2085
The Congressional Budget Office recently estimated that six million American families will be liable for the tax, and as Americans for Tax Reform has pointed out, 100 percent of Americans filing a tax return (140 million filers) will be forced to submit paperwork to the IRS showing they had “qualifying” health insurance for every month of the tax year. Bill: PPACA; Page: 317-337)
3. Obamacare Employer Mandate Tax (takes effect Jan. 2014): If an employer does not offer health coverage, and at least one employee qualifies for a health tax credit, the employer must pay an additional non-deductible tax of $2000 for all full-time employees. Applies to all employers with 50 or more employees. If any employee actually receives coverage through the exchange, the penalty on the employer for that employee rises to $3000. If the employer requires a waiting period to enroll in coverage of 30-60 days, there is a $400 tax per employee ($600 if the period is 60 days or longer). Bill: PPACA; Page: 345-346
Combined score of individual and employer mandate tax penalty: $65 billion/10 years
4. Obamacare Surtax on Investment Income (Tax hike of $123 billion/takes effect Jan. 2013): Creation of a new, 3.8 percent surtax on investment income earned in households making at least $250,000 ($200,000 single). This would result in the following top tax rates on investment income: Bill: Reconciliation Act; Page: 87-93
Capital Gains
Dividends
Other*
2011-2012
15%
15%
35%
2013+ (current law)
23.8%
43.4%
43.4%
2013+ (Obama budget)
23.8%
23.8%
43.4%
*Other unearned income includes (for surtax purposes) gross income from interest, annuities, royalties, net rents, and passive income in partnerships and Subchapter-S corporations. It does not include municipal bond interest or life insurance proceeds, since those do not add to gross income. It does not include active trade or business income, fair market value sales of ownership in pass-through entities, or distributions from retirement plans. The 3.8% surtax does not apply to non-resident aliens.
5. Obamacare Excise Tax on Comprehensive Health Insurance Plans (Tax hike of $32 bil/takes effect Jan. 2018): Starting in 2018, new 40 percent excise tax on “Cadillac” health insurance plans ($10,200 single/$27,500 family). Higher threshold ($11,500 single/$29,450 family) for early retirees and high-risk professions. CPI +1 percentage point indexed. Bill: PPACA; Page: 1,941-1,956
6. Obamacare Hike in Medicare Payroll Tax (Tax hike of $86.8 bil/takes effect Jan. 2013): Current law and changes:
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http://www.atr.org/full-list-ACA-tax-hikes-a6996#ixzz4c4UjeIft Follow us: @taxreformer on Twitter