Obama 'Courting Disaster' with Tax-Hike Plan, Economist Says

This is a no-brainer. literally: Obama's plan is not good enough for me or the country: It cuts taxes slightly for those of us (more than 98% of us) who make less than $250,000/year, and it raises taxes slightly for those above $250k/yr...it adds an estimated $3 Trillion in new debt to our already GOP-driven $10 Trillion debt over the next 10 years. However, McCain's plan is Disastrous for the country: It cuts taxes at every level, including HUGE tax cuts for those making over $250,000/year...it it adds an estimated $6 (SIX) Trillion in new debt to our already GOP-driven $10 Trillion debt over the next 10 years. Want to completely bury your kids and grandkids...put McSame in power. If he gets in, we're toast financially (except for the fabulously wealthy, they do fine in either case). If Obama gets in, we stand a chance, but it's not looking good in either case. In addition to the mounting debt the GOP has piled on with their voodoo economics (a term coined by then presidential candidate George H. W. Bush in 1980 to describe "trickle-on", "supply-side" or "reagonomics" as this failed policy has been called), there's roughly $50 TRILLION in other debt from the 'trust' funds due to hit us in the face in the next 10 yrs. When are we going to take responsibility for what WE choose to do NOW? Vote Obama and give our kids and the middle class a fighting chance.

Gee I wonder how we ever got by when top rates were much higher. What were the top rates during the Clinton administration, when things were GREAT, before the Republicans trashed the economy???? They were HIGHER, that's what they were.

Gee I wonder how we ever got by when top rates were much higher. What were the top rates during the Clinton administration, when things were GREAT, before the Republicans trashed the economy???? They were HIGHER, that's what they were.

Nothing new here except fat cats spreading propaganda to suit their own needs. How things look depends on where you stand when you look.

The huge deficit spending done by the Bush administration has the same effect a levying big taxes. The Canadian Dollar went from $0.60 to the dollar to $1.09 to the dollar. In other words with Bush you buy less for the dollar because of the deflated dollar. Bush tells you no new taxes but make your bucks worthless--same effect

I am really sick of these idiots pontificating on how awful it would be if they had to pay their fair share. Greedy pigs, all of them.

well if I had to vote for a tax plan I would say okay is the 250,000 tax plan going to help or do we have a plan that is helping. for now I would take whats working and try on a small scale obama plan to see what's best.

Is he repeating the ridiculous Republican mantra of "cut taxes" always? I hope not, though I really can't tell. I wonder if he would say that the Bush tax cuts worked? Certainly the cant would be, I think, that you don't raise taxes during a recessionary period, but is he making a larger statement?

HE'S RIGHT

Obama will only raise taxes for you if you make over $250,000 as a couple (or $200,000 as an individual). Those folks can handle that just fine and it won't damage the economy. What will damage the economy is the ridiculous McCain idea that you can cut taxes like Bush and keep spending like a fool on the military.

There are too many tax cuts for those having kids. I think we have enough people in the world thaty we cannot feed. I do agree with Obama. He has the right approach.

What is worse? Upping the national debt (currently 10 trillion), or raising taxes? In other words, shall we continue to not take in enough to pay for all of our outlays? Or shall we start to pay for what we spend (by raising taxes)? And anyone (especially a Republican) who thinks that we can cut spending ... you are dreaming. Bush and Cheney spent like crazy, and so no one believes that republicans (or anyone) will ever cut spending.

This is a no-brainer. literally: Obama's plan is not good enough for me or the country: It cuts taxes slightly for those of us (more than 98% of us) who make less than $250,000/year, and it raises taxes slightly for those above $250k/yr...it adds an estimated $3 Trillion in new debt to our already GOP-driven $10 Trillion debt over the next 10 years. However, McCain's plan is Disastrous for the country: It cuts taxes at every level, including HUGE tax cuts for those making over $250,000/year...it it adds an estimated $6 (SIX) Trillion in new debt to our already GOP-driven $10 Trillion debt over the next 10 years. Want to completely bury your kids and grandkids...put McSame in power. If he gets in, we're toast financially (except for the fabulously wealthy, they do fine in either case). If Obama gets in, we stand a chance, but it's not looking good in either case. In addition to the mounting debt the GOP has piled on with their voodoo economics (a term coined by then presidential candidate George H. W. Bush in 1980 to describe "trickle-on", "supply-side" or "reagonomics" as this failed policy has been called), there's roughly $50 TRILLION in other debt from the 'trust' funds due to hit us in the face in the next 10 yrs. When are we going to take responsibility for what WE choose to do NOW? Vote Obama and give our kids and the middle class a fighting chance. Oh - Hey Chubby: McCain's net worth = $140,000,000; Obama's net worth = $1,000,000; Biden's net worth = $150,000. Who knows about middle class and who doesn't? Really dude, read somethign other than your belly lint....and watch something besides Fox 'news'.

Ya, more taxes will mean for sure that jobs will go to other countries... Remember when they had the luxury tax on yachts and other goods? Well the rich people stopped buying them, and the middle class people who built them were the ones who lost. Lost their jobs that is!! Remember, that the 250000 dollar tax mark, WILL NEVER BE ADJUSTED FOR INFLATION, which will mean, eventually 250000 will be a regular person's income, however, a higher tax bracket. Look at the AMT tax, same example....

So, if you made $250K a year and Obama taxes you more, are you going to work harder -- or work a little less so you don't have to pay it all in taxes? Let's get real -- it's the people making the big buck (often small business owners) who are the future Bill Gates of our economy. These are the people with the motivation and fortitude to build businesses and create jobs. Taxing them more only hurts the economy in the long run.

Obama's plan is just more sharing of the wealth. Keep the black man down. Make him come to the government to get his ration of money

This policy just seems like common sense to me. A few thousand out of the pockets of the rich won't mean much to them, but take that out of the pockets of people making under $50k and it could be devastating. That is the difference between being able to pay your mortgage or being forclosed upon. Think about how much better all of us would be if everyone could afford to pay their mortgages.

A big mistake. Most folks don't seem to understand it's the folks with money who invest and make jobs for the rest of us. Most of the wealthy people in this country are not fat greedy pigs but small business owners who put most of their wealth back into their businesses to create even more jobs. Destroy this capitalist system and it's the workers who will suffer from job losses not the wealthy paying higher taxes. The top 1% already pay 40% of all taxes!!!!

J F - you hit the nail on the head - people making over $250K *EARN* that surplus. Should the government disintentivize achievement? Does anyone believe someone just writes wealthy individuals a check when they are born? A person making $300K even with deductions for mortgage interest, etc. is going to pay over $100K a year back to the government. A person earning $50K a year with no deductions at all will pay about $10K back in taxes. That person making $300K per year is paying as much as TEN taxpayers earning a middle-class living. How much more of the burden should they shoulder? How is that fair? Want fair? Two words: Flat Tax.

Do something about illegal immigration, ie stop spending all my tax dollars on making them feel welcome while telling them to go home. It's like the hostess who keeps bringing desert to you while telling you the party is over. Obama is going to change NOTHING!!!!