Obama: "Tax Cuts Create Jobs"

[Patranus]

On live TV.

 

[First]

lmao troll fail.

 

[Patranus]

lmao troll fail.

He was just on live TV talking about the jobs numbers and wanted the tax cuts extended.

You fail.

 

[First]

^ lmao.

 

[brencat]

...so does extending unemployment comp in perpetuity

Pelosi told us so

 

[Patranus]

"We're making progress. We're moving in the right direction. And one of the reasons for this is the tax cut for working Americans that we put in place last year," he said.

"When Congress returns they should extend the middle class tax cut for all of this year, to make sure we keep this recovery going," he told workers at the Consumer Financial Protection Bureau to welcome its new director, Richard Cordray.

http://www.myfox8.com/news/politics/sns-rt-us-obama-jobstre8051d0-20120106,0,312649.story

Here you go, go......<--bites tongue-->

 

[DesiPower]

so... Obama flip-flops?

 

[dank69]

middle class tax cut

12

 

[First]

lol troll.

middle class tax cut

Bump.

 

[PokerGuy]

But... but... I thought tax cuts were irresponsible and only tax increases are good policy??

 

[woolfe9999]

so... Obama flip-flops?

What flip flop? Please site any statement he has made to the contrary in the past. Namely, that a middle class tax cut and/or payroll tax cut will create no jobs.

Fail thread is fail.

 

[CPA]

lol troll.



Bump.

You guys obviously don't understand who Social Security tax applies to. It applies to EVERYONE, including the rich, that have a paycheck. The President of my my company who makes over $1M still gets a tax cut just as I do.

 

[spidey07]

This is the tax cut democrats faught tooth and nail to make it only two months instead of the full year long extension republicans passed in the house.

So it looks like Obama agrees with republicans.

 

[MomentsofSanity]

Since when has Obama advoated ending the tax cuts for the middle class?

Wake me up when he says to extend them for the 1%... until then you're trolling along.

 

[senseamp]

Republicans will have ample opportunity to extend the payroll tax for another ten months. We'll see what they do, not what they say.

 

[woolfe9999]

You guys obviously don't understand who Social Security tax applies to. It applies to EVERYONE, including the rich, that have a paycheck. The President of my my company who makes over $1M still gets a tax cut just as I do.

Yes, and it is a much smaller cut for the $1M a year guy as a percentage of his income because the SS tax caps at a small fraction of what he makes. Either way, I fail to even see the relevance of this point.

 

[CPA]

Yes, and it is a much smaller cut for the $1M a year guy as a percentage of his income because the SS tax caps at a small fraction of what he makes. Either way, I fail to even see the relevance of this point.

The relevance is that you and your savior call this a middle class tax cut. That is patently false. It impacts everyone.

Additionally, this is not a true payroll tax cut, it is a Social Security tax cut. Why does that matter because it impacts 1) self-employed (a component of income, not payroll) and 2) future Social Security viability, which no one is talking about.

 

[dank69]

The relevance is that you and your savior call this a middle class tax cut. That is patently false. It impacts everyone.

What is the max tax cut one could qualify for? How much impact does that sum of money make to a person earning $250K/yr?

 

[spidey07]

Since when has Obama advoated ending the tax cuts for the middle class?

Wake me up when he says to extend them for the 1%... until then you're trolling along.

He is extending them for the 1%.

 

[spidey07]

What is the max tax cut one could qualify for? How much impact does that sum of money make to a person earning $250K/yr?

About 2 grand per employee. HCE cut off is something like 106k. So a dual income white collar family of 200K or more would see 4k less in taxes. Obama loves giving a 4,000 dollar tax break to the 1&#37;.

 

[JS80]

About 2 grand. HCE cut off is something like 106k. So a dual income white collar family of 200K or more would see 4k less in taxes

Why you say white collar? These days blue collar or federal dual income family makes $200k

 

[dank69]

About 2 grand per employee. HCE cut off is something like 106k. So a dual income white collar family of 200K or more would see 4k less in taxes. Obama loves giving a 4,000 dollar tax break to the 1&#37;.

Wow, 2% difference in income these people will be living on the street in no time without it. I bet when they get a 2% raise they are really happy about it.

 

[First]

You guys obviously don't understand who Social Security tax applies to. It applies to EVERYONE, including the rich, that have a paycheck. The President of my my company who makes over $1M still gets a tax cut just as I do.

No, it's a middle class tax cut because its impact on middle class wealth and behavior is significantly higher than those making, say, $1M+. I'm sorry this point has eluded you, but the reality is that a payroll tax cut can and should be called a middle class tax cut.

 

[CPA]

What is the max tax cut one could qualify for? How much impact does that sum of money make to a person earning $250K/yr?

Social Security was reduce from 6.2% to 4.2% for everyone. Social Security Tax is applicable for the first $110,600 for 2012. After that, you pay no further Social Security tax. The percentage is irrelevant to the point that this is being called a "middle class tax cut". It is not. It is a cut for any earner, even those making more than $110K.

 

[spidey07]

No, it's a middle class tax cut because its impact on middle class wealth and behavior is significantly higher than those making, say, $1M+. I'm sorry this point has eluded you, but the reality is that a payroll tax cut can and should be called a middle class tax cut.

So earning 200k+ a year is now middle class?

So you agree with republicans than that this should have been extended for the full year?