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Can you think of one?

Discussion in 'Political Debate & Discussion' started by Salty, Sep 23, 2011.

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  1. Salty

    Salty 20,000 Posts Club
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    A liberal talk show host has said several times that Obama has cut taxes.

    Did I miss the memo, what taxes has he cut?

    Or has he raised taxes

    Just the facts....
     
    #1 Salty, Sep 23, 2011
  2. InTheLight

    InTheLight Well-Known Member
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    He cut the employee portion of the social security TAX from 6.2% to 4.2%.

    Otherwise he did have a thing called Making Work Pay, which was a tax credit that taxpayers of 2009 received when they filed their tax return. Technically not a cut but rather a credit.

    Can't think of any others...
     
    #2 InTheLight, Sep 23, 2011
  3. Salty

    Salty 20,000 Posts Club
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    Yea, you are right - the only problem with that is we are seeing a plundering of the SS "locked box". Of all the taxes to reduce ... sounds dumb to me.
    So someone making $500 a week will see an extra $10 per week. If you make $100 a week you will see an extra $2 per week - BIG DEAL!
     
    #3 Salty, Sep 23, 2011
  4. InTheLight

    InTheLight Well-Known Member
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    What would you say would be a significant tax cut? Suppose you made $500 a week. You say that $10 is not a big deal. How much would be a big deal? $15? $20? $25? $30?
     
    #4 InTheLight, Sep 23, 2011
  5. Salty

    Salty 20,000 Posts Club
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    A bare minimum of 10%

    The other problem is that $10 a week is not that much. Now the politicians would say they saved you $500 per year - which is true - so to make it effetive you would need to have self discipline and put it in the bank each week.
     
    #5 Salty, Sep 23, 2011
  6. billwald

    billwald New Member

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    >Yea, you are right - the only problem with that is we are seeing a plundering of the SS "locked box".

    Boggles my mind that none of you have read the SS legislation. There never was a "locked box." The actual movement of SS funds has never changed. There was a minor book keeping change before some of you were born. It only involved reporting the funds in annual reports.
     
    #6 billwald, Sep 23, 2011
  7. Salty

    Salty 20,000 Posts Club
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    Bill, if you didn't notice I did put "" around LB. And if you haven't ever notice, one of my favorite words is facetious
     
    #7 Salty, Sep 23, 2011
  8. InTheLight

    InTheLight Well-Known Member
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    So you'd like to see $50 a week in tax cuts on a $500 a week wage.

    When I was first out of school back in Reagan's first term my first job paid me about $500 a week. When the Reagan's tax cuts went into effect, I was taking home $18 - $20 more per paycheck, which I thought was a lot.

    I guess you are saying that Reagan's tax cuts wouldn't have satisfied you.

    In today's economy you probably end up putting it in your gas tank and notice no savings at all.
     
    #8 InTheLight, Sep 24, 2011
  9. targus

    targus New Member

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    It's really hard to cut taxes for people who aren't paying much or any to begin with.

    Just as Obama wants to raise taxes on "millionaires and billionaires" because thats where the money is tax cuts need to go to those who are paying taxes by the same reasoning.
     
    #9 targus, Sep 24, 2011
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