Category: Tax

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Politics Tax

In a Perfect Republican World, You’ll Have No Free Speech – Your Mic Turned Off!

A United States Senator,  along with all the members of his party and the millions of Americans they represent, got his most basic freedom of speech taken away yesterday in a hearing of the House Oversight Committee ,  chaired by Republican Darrell Issa.

Issa, trying to give Fox News some material for their brainless base and an apparent effort to prop up his Mister Macho credentials, called the hearing to once again question an IRS official on the non-story, Republican manufactured scandal concerning the 501c4.

Although multiple hearings and millions of tax dollars have already been wasted on this non-story, Republicans need to keep this so-called tax scandal alive until the November elections, so the IRS official was called to do what she’s done in the past, invoke her Fifth Amendment rights under the Constitution.

Issa called the witness – Lois Lerner – and shot off ten questions at her already knowing what her answer would be. He then tried to end the proceedings without accepting questions or any input whatsoever from the other members of the committee. But Rep. Elijah Cummings (D-MD), would have none of it and insisted on taking part in the hearing. What nerve! Didn’t he know this hearing was just a charade for Fox News?

“Can I ask a question?” Mr Cummings is heard saying.

“This hearing is adjourned,” Issa shot back, and stood up to walk away.

Still insisting on doing his job and taking part in the hearing, Rep Cummings continued talking, but the Republican dictator Chairman would have non of it and proceeded to turn off Mr Cummings’ microphone.

Cummings exploded. “If you will sit down and allow me to ask a question,” Cummings insisted. “I am a member of a Congress of the United States of America!”

“I am tired of this,” Cummings continued. “You cannot just have a one-sided investigation. There is absolutely something wrong with that, and it is absolutely un-American.”

“We had a hearing. It was adjourned,” Issa said. “I gave you an opportunity to ask your questions. You had no questions.”

“I do have questions,” Cummings replied. “Chairman, what are you hiding?”

Watch the unbelievable events unfold below.

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ObamaCare Politics Tax

For Republicans – It’s Only A Tax If You’re Talking About ObamaCare – Video

Appearing on MSNBC was a spokesperson for the RNC and an obvious supporter of Mitt Romney. Asked about the struggles the Romney campaign has in explaining whether or not the mandate is a tax or penalty, the spokesperson explained that they agreed with the Supreme court’s position that the mandate is a tax.

But when asked if the same mandate found in RomneyCare – the Health care law that Mitt Romney signed into law as governor of Massachusetts – is a tax on the people of that state, the spokesperson stared at the camera for a split second then advised the host that “we are talking about ObamaCare,” not RomneyCare.

So to conclude, the individual mandate in the law is only a tax if you’re talking about ObamaCare. If you’re talking about RomneyCare… wait a second, we’re not supposed to talk about RomneyCare!

Moving on…!

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Mitt Romney ObamaCare Politics Tax

Mitt Romney’s Sloppy Message On The Mandate – Is It A Tax or A Penalty?

They can’t even get their message straight, but Mitt Romney and his Republican backers wants to run the free world.

The message in question here is where does Mitt Romney stand on the individual mandate – something he attached to his RomneyCare Health Care law in Massachusetts and found in President Obama’s Affordable Healthcare Act also known as ObamaCare. The Supreme Court recently called the mandate a tax on those who refuse to obtain healthcare.

We are still waiting for a definite position on what Romney and his campaign thinks.

Republican White House hopeful Mitt Romney has appeared to contradict previous campaign statements by saying President Barack Obama’s health reform law entails a “tax” and not a penalty.

Romney, who enacted a similar healthcare overhaul when he was governor of Massachusetts, has had to reassure fellow conservatives who despise so-called “Obamacare” without appearing to flip-flop on his own legacy.

The balancing act was evident in an interview with CBS news on Wednesday in which Romney agreed with the Supreme Court’s ruling that the individual mandate — which requires Americans to purchase health insurance or pay a fee — amounts to a tax and not a penalty, as both he and Obama had previously argued.

“The Supreme Court has the final word. And their final word is that Obamacare is a tax. So it’s a tax,” Romney told CBS Wednesday.

“They decided it was constitutional. So it is a tax and it’s constitutional,” he said, adding that he had agreed with the court’s dissent, which said the mandate was unconstitutional.

That appeared to mark a shift in his position, given that Romney campaign aide Eric Fehrnstrom had told MSNBC on Monday that the Republican candidate had “consistently described the mandate as a penalty.”

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Healthcare michael steele ObamaCare Tax

Michael Steele Confirms Only Small Percentage Of Americans Will Pay Penalty

Michael Steele, the former head of the Republican National Committee is not buying into the Republican talking points. Ever since the Supreme Court came out supporting the President’s healthcare reform law, Republicans have been on a rampage telling everyone who would listen that this law – also called ObamaCare – will be the biggest tax on middle class America. And not to be outdone, Rush Limbaugh, the unofficial official mouthpiece of the Republican party is telling his faithful radio following that ObamaCare would be the biggest tax “in the history of the world!”

Of course it’s all a lie, but that’s not stopping these Republicans from using fear to control their base. So imagine my surprise when Michael Steele went on MSNBC’s Hardball and told the truth!

Asked about the law and the fact that Americans are buying into the Republican lie, Steele admitted that the tax/penalty would only be on a small group of Americans who decides not to follow the law.

there is that element of confusion that now exist out there. You’re talking about a small percentage of people, those who does not comply with the law who would be subject to this penalty/tax. But the broader population thinks it applies to them.

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Politics Tax weekly address

President Obama Once Again Ask Rich America to Pay Their Fair Share

And yet another call to our elected leaders to do what’s right for the huge majority of Americans and not just the richest among us. President Obama once again called on Congress to pass the Buffett rule, a law that would make our tax system more fairer requiring the richest 2% of Americans – those making over $1 million in yearly income – to pay a more appropriate percentage of their income in taxes.

The President;

Over the last decade, we’ve spent hundreds of billions of dollars on what was supposed to be a temporary tax cut for the wealthiest two percent of Americans.  Now we’re scheduled to spend almost a trillion more. Today, the wealthiest Americans are paying taxes at one of the lowest rates in 50 years.  Warren Buffett is paying a lower rate than his secretary.  Meanwhile, over the last 30 years, the tax rates for middle class families have barely budged.

That’s not fair.  It doesn’t make any sense.  Do we want to keep giving tax breaks to the wealthiest Americans like me, or Warren Buffett, or Bill Gates – people who don’t need them and never asked for them?  Or do we want to keep investing in things that will grow our economy and keep us secure?  Because we can’t afford to do both.

Now, some people call this class warfare.  But I think asking a billionaire to pay at least the same tax rate as his secretary is just common sense.  We don’t envy success in this country.  We aspire to it.  But we also believe that anyone who does well for themselves should do their fair share in return, so that more people have the opportunity to get ahead – not just a few.

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Mitt Romney Politics Republican Tax taxes United States

Mitt Romney Admits His Tax Rate Is Probably 15 Percent

Ever wonder why Mitt Romney is so hesitant to do the right thing and release his tax returns? Well maybe the reason has something to do with his tax rate – a rate the Republican frontrunner admits is “probably” less than 15%.

Meanwhile, middle class America pays a rate of 38%.

GOP presidential front-runner Mitt Romney on Tuesday said he probably pays a tax rate of about 15 percent.

Romney, who has come under pressure from Republicans and Democrats alike to release his tax forms, said most of his income is in long-term capital gains, which is hit with a 15 percent rate.

“It’s probably closer to the 15 percent rate than anything, because my last 10 years, I’ve — my income comes overwhelmingly from investments made in the past, rather than ordinary income, or rather than earned annual income,” Romney said during a press conference in Florence, S.C. “I get a little bit of income from my book but I gave that all away. And then I get speakers’ fees from time to time but not very much.”

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Elections Mitt Romney Politics Tax taxes

Mitt Romney’s Plan Will Raise Your Taxes

Unless you’re earning over $1 million a year that is, then you will see your taxes cut by as much as $146,000 a year. But for the middle class Americans struggling to make ends meet, prepare to pay more in taxes if Mitt Romney becomes your president.

The non-partisan Tax Policy Center analyzed Mitt Romney’s tax proposals and, according to the Wall Street Journal, “concluded that Mr. Romney’s plan would reduce taxes significantly for high-income earners (by 6.9% or $146,000 for households making more than $1 million), and increase federal deficits by $180 billion in 2015 compared to current tax levels.”

And despite Romney’s claims, his plan would also raise taxes slightly for low-income families.

Associated Press: “Households making between $50,000 and $75,000 would get small tax cuts, averaging 2.2 percent, or about $250, the study said. People making more than $1 million would get tax cuts averaging 15 percent, or about $146,000.”

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Domestic Policies Payroll tax Republican Tax Tax cut United States

President Obama Calls Boehner’s Caving “Good News”

In a statement, the President praised the “good news” that Boehner and House Republicans caved on extending the Payroll tax cuts for the middle class.

“For the past several weeks, I’ve stated consistently that it was critical that Congress not go home without preventing a tax increase on 160 million working Americans. Today, I congratulate members of Congress for ending the partisan stalemate by reaching an agreement that meets that test.

Because of this agreement, every working American will keep his or her tax cut – about $1,000 for the average family. That’s about $40 in every paycheck. Vital unemployment insurance will continue for millions of Americans who are looking for work. And when Congress returns, I urge them to keep working to reach an agreement that will extend this tax cut and unemployment insurance for all of 2012 without drama or delay.

This is good news, just in time for the holidays. This is the right thing to do to strengthen our families, grow our economy, and create new jobs. This is real money that will make a real difference in people’s lives. And I want to thank every American who raised your voice to remind folks in this town what this debate was all about. It was about you. And today, your voices made all the difference.”

Indeed.

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Politics Tax

Republicans Vote Against American Jobs Again – Must Make Obama Fail

Republicans again successfully blocked another portion of President Obama’s jobs bill. The bill that just went down in the Senate had 50 Democrats voting in favor and all Republicans voting against it. It would create or save 400,000 jobs, and put first responders back to work throughout the nation. Republicans stood in unity and voted against Firefighters, Teachers and Police Officers.

And why are these jobs not important to Republicans?

How do you pay for the bill? That’s the question Republicans have hidden behind as their excuse to cut or not support bills that will help Americans. In this case, the jobs bill to put these Americans back to work would cost $30 billion, and Democrats wanted to tax millionaires on income over $1 million to pay for it.

How was this tax going to work?

Democrats were asking Republicans to agree to a tax that equals half of 1 percent. That’s half of 1 percent on income over $1 million, so if a millionaire made $1 million and ten dollars, he or she would be taxed on the $10.00 at .5% or half of 1 percent. Vice President Joe Biden explains it this way;

 “Are you going to put 400,000 school teachers back in classrooms, are you going to put 18,000 cops back on the street and 7,000 firefighters back in the firehouses? Or are you going to save people with average incomes of $1 million a one-half of 1 percent increase in tax on every dollar they make over a million?”

The Vice President then advised Americans to pay close attention to how their representatives vote. “So I say to the American people, watch your senator, watch him or her choose.”

In last night’s vote, Americans saw another example of where Republicans stand when it comes to getting this economy back on track. All Senate Republicans decided not to vote for the jobs of school teachers, cops or firefighters. They all voted to make sure this economy continues down the drain, with the hopes that President Obama gets the blame and loses the election in 2012.

Party before Patriotism. That’s the new definition of today’s Republican party!

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Barack Obama Politics Republican Tax Tax break United States

President Obama – “Wealthiest Americans Must Pay Their Fair Share!”

In his weekly address to the nation, President Obama continued his push for a balanced approach to the nation’s debt problem, and called for Republicans to agree to raising revenues along with spending cuts.

“The truth is, you can’t solve our deficit without cutting spending. But you also can’t solve it without asking the wealthiest Americans to pay their fair share – or without taking on loopholes that give special interests and big corporations tax breaks that middle-class Americans don’t get.

It’s pretty simple. I don’t think oil companies should keep getting special tax breaks when they’re making tens of billions in profits. I don’t think hedge fund managers should pay taxes at a lower rate than their secretaries. And I don’t think it’s fair to ask nothing of someone like me when the average family has seen their income decline over the past decade – and when many of you are just trying to stretch every dollar as far as it will go.

We shouldn’t put the burden of deficit reduction on the backs of folks who’ve already borne the brunt of the recession. It’s not reasonable and it’s not right. If we’re going to ask seniors, or students, or middle-class Americans to sacrifice, then we have to ask corporations and the wealthiest Americans to share in that sacrifice.”

The President:

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Barack Obama Medicare Politics Republican Tax United States weekly address White House

G.O.P Putting America In Default Status To Avoid A 3% Tax Hike On Millionaires

In his weekly address to the nation, President Obama spoke about the looming debt ceiling, and the discussion presently going on between Democrats and Republicans. The President detailed what both sides have already agreed to, saying;

“The good news is, we agree on some of the big things. We agree that after a decade of racking up deficits and debt, we finally need to get our fiscal house in order. We agree that to do that, both sides are going to have to step outside their comfort zones and make some political sacrifices. And we agree that we simply cannot afford to default on our national obligations for the first time in our history; that we need to uphold the full faith and credit of the United States of America.”

Mr. Obama also spoke about the differences between what he believes must be done and the position the Republicans have taken to protect the rich, saying, “I believe we need a balanced approach. That means taking on spending in our domestic programs and our defense programs. It means addressing the challenges in programs like Medicare so we can strengthen those programs and protect them for future generations. And it means taking on spending in the tax code – spending on tax breaks and deductions for the wealthiest Americans.”

And there lies the problem, the stumbling block between Democrats and Republicans. Mr. Obama’s wish to take on the spending in the tax code is what Republicans are strongly against. It must be noted here, that taking on this tax code equals a 3% tax raise on millionaires, essentially taking their tax rate from 36% to 39%, which is what the rate was under the Clinton Administration.

Republicans are saying no to that 3% raise for the rich, but they are all for spending cuts in programs that benefit the middle class, like cuts in Medicare and social Security.

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Politics Republican Tax United States

David Brooks – These Infected Republicans Are Unfit To Lead

If the debt ceiling talks fail, independent voters will see that Democrats were willing to compromise but Republicans were not. If responsible Republicans don’t take control, independents will conclude that Republican fanaticism caused this default. They will conclude that Republicans are not fit to govern.

And they will be right.

Those are the words as written by David Brooks – a columnist for the New York Times who is described by David Warren, of  Real Clear Politics, as someone who shares the Conservative Republican ideology. The piece, published on July 4th, is called The Mother of All No-Brainers, and in it, Brooks spoke about the Republican party as being “infected by a faction that is more of a psychological protest than a practical, governing alternative.”

“The members of this movement,” Brooks continued, “do not accept the logic of compromise, no matter how sweet the terms. If you ask them to raise taxes by an inch in order to cut government by a foot, they will say no. If you ask them to raise taxes by an inch to cut government by a yard, they will still say no.”

Brooks proved his point by referencing the debate going on in Washington about raising the debt ceiling, where Democrats and the President have already signaled their willingness to cut defense and entitlement spending if Republicans are willing to close some tax loopholes that benefit millionaires. This willingness by the Democrats would cut about $3 trillion in spending, for a few billion in savings by closing these tax loopholes. According to Brooks, the real Republican party should “seize the opportunity to put the country on a sound fiscal footing,” but the infection would not allow that to happen.

Speaking further on this “infection”, Brooks says;

The members of this movement do not accept the legitimacy of scholars and intellectual authorities. A thousand impartial experts may tell them that a default on the debt would have calamitous effects, far worse than raising tax revenues a bit. But the members of this movement refuse to believe it.

The members of this movement have no sense of moral decency. A nation makes a sacred pledge to pay the money back when it borrows money. But the members of this movement talk blandly of default and are willing to stain their nation’s honor.

The same Republicans who were responsible for raising the debt ceiling under the Bush Administration on numerous occasions did it then because they knew the importance of America paying its bills. These same Republicans are now willing to allow the country to default on these bills, in order to point to the present administration as being irresponsible and unable to lead. That argument they’re hoping, would be enough to win them the  elections in 2012.

Americans sent both Democrats and Republicans to congress with one request – lead. In order to effectively do that, both party must be able to come together and solve the nation’s problems. But Republicans have shown, time and time again, that they are not willing to come together to solve anything. Republicans are more willing to assist in pushing the economy back into a ditch, even if it means millions of Americans suffer in the process.

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