Obama's record budget: Tax the rich, help middle class

[chuckd]

Yet another option that is rarely discussed nor is it even considered by the current administration.

You can always cut spending.

[SheungWan]

The budget was dead in the water as soon as it rolled off the printing presses and just another part of an interminable Kabuki play. We just know that Bill Clinton would have played it differently and *sigh*. Fingers crossed until either Hillary or Jeb get elected in 2016.

Edited February 4, 2015 by SheungWan

[F430murci]

Renters don't pay property taxes. They pay rent and they usually are not renting out the valuable properties that generate the bulk of property taxes.

Ridiculous! Rents are one of the primary topics when reading any of the classic works on economics. There may be, at a micro-economic level, the rare event where rents do not cover costs, but at the larger macroeconomic level, rents always reflect the value of the property and in fact, when speaking of rentals, the potential rents will be the determining factor as to valuing the property for both tax purposes and for resale purposes: if your rents drop so too does the value of your property.

That is exactly what I meant, even down to the year. If one looks deeper, I believe that while the Top 1 Percent pays 35 percent of all (Individual) Income Taxes, they account for only about 11% of the (Individual) Income.

I have often asked, but NEVER received a reply to the question, if someone accounts for 11% of the income, what percentage of taxes would be considered paying their fair share?. I'm expecting someone here to answer, "40%!"

Your primary erroneous assumption is that income is distributed in a some sort of classic bell-shaped normal distribution curve or a straight line 45° curve when, technically, it is a Lorenz curve. That is also the fallacy behind those who would advocate for a flat tax. The bell curve or straight line curve is not the case. Given the large numbers of people with very modest incomes that don't leave the wage earner with enough to support themselves, and whom I would not expect to pay any income tax, we would expect the relatively small number of very high wage earners to pay the bulk of the income taxes, and your 40% does not seem that high to me. If you have an income tax in an economy with a highly unequal distribution of income, then you must either accept that a small percentage of high income earners will have to pay a disproportionately high percentage of total income tax revenue, or you must restructure the economy to lower income in quality.

I know I am just butting my head against the wall with you, but WTH. I must like the headache it yields, but you obviously have done very little or no property investment. Rent prices are primarily driven by inventory and demand which has just about zip to do with positive or negative cash flow which will vary vastly from owner to iwner in any guven segment of a rental market. Same with commercial, inventory and demand. This can vary year to year based on a number of factors that is too far off topic to get into here.

[JAG]

You put the word "Obama" in the title of any new post and the tin foil hat, nutters go out of their minds.

If you're an American making less than $250k and voting republican, you're voting against your own self interest. Obama's approval rating is on a dramatic rise. Obamacare has insured 12 million people for less money than originally thought. He's ended two wars, nailed Osama, saved the economy. The stock market is at record levels and the American dollar is stronger than its ever been. This despite every effort by Republicans to sabotage Obama's Presidency at every turn. He's accomplished amazing things when you take that into consideration.

Of all the clowns now running for the Republican nomination (with Scott Walker leading Iowa ) there isn't a creative policy on anything except lowering taxes on the rich. That's it, lower taxes on the rich. Possibly start a war with the terrorist de jour. Maybe build a fence to keep out the terrorist. Whatever weirdness Fox tells you to be afraid of this week.

I know how hard it must be for the lemmings, but turn off Fox News and take a breath of fresh air. Try and get the hate and fear under control. Reading these posts, I'm really worried you guys.

Yes yes yes, we know all that, but he is still a black man with an "uppity" wife.

And that is why the people making the running in US politics will NEVER accept anything he proposes.

Now that is one simplistic conclusion that lumps millions of people into a single bucket.

Is it not possible that thinking, involved, concerned Americans, of which I like to believe I am one, cannot disagree with the President, who also happens to represent the liberal end of the Democrat Party, without the old saw of racist being trudged out?

I got a lump in my throat with pride in how far the US had come when I watched him take the oath of office. Does that mean I voted for him and/or support his ideas which seem to be based on increased government solutions via increasing the size of the gov't and spending? No, it does not.

I am hoping that a reasonable Republican candidate emerges from the mix. I believe there are some good ones. Time will tell if that happens.

It is a simplistic explanation, but that is because at the end of the day it is a very simple point..

I don't believe that it lumps millions of people in the same bucket, only those that have taken power in the opposition to Obama. I'm not an American, but I too thought it was a huge step forward for the USA when he was inaugurated.

His attempts to introduce a form of universal healthcare come from his electoral mandate, and the visceral opposition to these and other policies ignore that mandate,

My point about the essential racial element in the opposition to his policies holds water, although I understand that is unpalatable to many who disagree with his policies.

Your hope that a reasonable Republican candidate emerges ( which I echo ) rather suggests that the opposite may happen.

[SpokaneAl]

You put the word "Obama" in the title of any new post and the tin foil hat, nutters go out of their minds.

If you're an American making less than $250k and voting republican, you're voting against your own self interest. Obama's approval rating is on a dramatic rise. Obamacare has insured 12 million people for less money than originally thought. He's ended two wars, nailed Osama, saved the economy. The stock market is at record levels and the American dollar is stronger than its ever been. This despite every effort by Republicans to sabotage Obama's Presidency at every turn. He's accomplished amazing things when you take that into consideration.

Of all the clowns now running for the Republican nomination (with Scott Walker leading Iowa ) there isn't a creative policy on anything except lowering taxes on the rich. That's it, lower taxes on the rich. Possibly start a war with the terrorist de jour. Maybe build a fence to keep out the terrorist. Whatever weirdness Fox tells you to be afraid of this week.

I know how hard it must be for the lemmings, but turn off Fox News and take a breath of fresh air. Try and get the hate and fear under control. Reading these posts, I'm really worried you guys.

Yes yes yes, we know all that, but he is still a black man with an "uppity" wife.

And that is why the people making the running in US politics will NEVER accept anything he proposes.

Now that is one simplistic conclusion that lumps millions of people into a single bucket.

Is it not possible that thinking, involved, concerned Americans, of which I like to believe I am one, cannot disagree with the President, who also happens to represent the liberal end of the Democrat Party, without the old saw of racist being trudged out?

I got a lump in my throat with pride in how far the US had come when I watched him take the oath of office. Does that mean I voted for him and/or support his ideas which seem to be based on increased government solutions via increasing the size of the gov't and spending? No, it does not.

I am hoping that a reasonable Republican candidate emerges from the mix. I believe there are some good ones. Time will tell if that happens.

It is a simplistic explanation, but that is because at the end of the day it is a very simple point..

I don't believe that it lumps millions of people in the same bucket, only those that have taken power in the opposition to Obama. I'm not an American, but I too thought it was a huge step forward for the USA when he was inaugurated.

His attempts to introduce a form of universal healthcare come from his electoral mandate, and the visceral opposition to these and other policies ignore that mandate,

My point about the essential racial element in the opposition to his policies holds water, although I understand that is unpalatable to many who disagree with his policies.

Your hope that a reasonable Republican candidate emerges ( which I echo ) rather suggests that the opposite may happen.

Your point that winning an election generates an electoral mandate is the error in your thought process. Winning an election does nothing to tamper the enthusiasm of the loyal opposition which, hopefully, remains alive and well.

No matter how we voted, the American public has no expectations that the opposition will roll over. When Obama pushed for Obamacare, he did have democrat majority in both the Senate and the House, that is how the bill passed - there was no negotiation with Republicans via gaining their input on the bill because he did not need them.

And as a result many voters who were very unhappy with that result gave the Republicans a majority in the house again. And the most recent elections continued that trend with more Republican gains in the house and a majority in the senate. Now, in order for either side to make headway, there must be some give and take.

Thinking that because a candidate wins a presidential election he/she some kind of carte Blanche mandate is patently false, as it a should be. Just because a party moves to the minority does not mean that they should compromise their principals and beliefs and end the fight.

And frankly, those who disagree with the president are a bit weary of the opposition continually crying racism as the source and foundation of that disagreement. Obama is a proud liberal, and there are equal numbers who remain equally proud conservatives.

P.S. For many, universal healthcare is completely opposite to how they believe America, via its Constitution, should run and that is how a visceral opposition was generated. Make no mistake, for better or worse, Obamacare is a huge, huge takeover by the government of a large part of the US economy, and that troubles and offends many.

Edited February 5, 2015 by SpokaneAl