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Subscribe to RSSIf Congress can't agree on a deal to avert the fiscal cliff, the president said taxes will rise by about $2,000 for the average family. NBC's Kristen Welker reports.
HATFIELD, Pa. -- President Obama today continued his efforts to push Congress to extend the Bush-era tax cuts for income below $250,000 with a visit to a toy factory here in suburban Philadelphia.
"We talked about this a lot... We had debates about it. There were a lot of TV commercials about it," Obama said. “At the end of the day, a clear majority of Americans -- Democrats, Republicans, independents -- they agreed with a balanced approach to deficit reduction and making sure that middle-class taxes don't go up.”
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The non-partisan Tax Policy Center says if these tax cuts expire at the end of the year -- as they are set to do -- about 90% of Americans would paid more in taxes and middle-income families would see their taxes rise by about $2,000.
Obama didn’t present any new ideas in his first speech since House Republicans rejected Treasury Secretary Tim Geithner’s proposal that he presented in meetings with congressional leadership yesterday. That proposal included $1.6 trillion in tax increases, $400 billion in cuts to Medicare and other programs, and ending Congress' control of the debt limit.
But Obama did couch his frustration with Congress in humor.
“I've been keeping my own naughty and nice lists for Washington," he said at a Rodon Group plant that makes the popular K'nex brand of toys. "So you should keep your eye on who gets K'NEX this year. There are going to be some members of Congress who get them, and some who don't."
Susan Walsh / AP
President Barack Obama looks over a rollercoaster with K'NEX Inventor Joel Glickman, left, and Rodon Group President and Chief Executive Officer Michael Araten, right, during a tour of the company in Hatfield, Pa. Friday, Nov. 30, 2012.
Even the seriousness of the country’s fiscal health couldn’t keep the president from joking about his affable vice president.
Talking about the colorful toys in the factory, Obama said, “Joe Biden was in Costco. He wanted to buy some of this stuff. But I told him he had too much work to do. I wasn't going to have him building roller coasters all day long.”
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No one should have to pay 30-50% of their income to live in the United States of America. This country is great because of the people not because of the government.
Amen to that!
Over 50 of the eligible taxpayers pay no taxes now. Our country is over $16 trillion in debt. There is a debt crisis, our government is unstable, and Obama is proposing that even less revenues be generated for our government.
When Obama took office 31.9 million people were receiving food stamps. 47.1 million are receiving food stamps today. That's a weekly average of 73,077 people getting added to the food stamp rolls each week Obama has been President.
IN Obama's first term Obama allowed austerity to put its foot in the door. If he gets what he wants, he will be swinging the door wide open inviting austerity in with a whole hearted welcome.
How do I know this? Obama told me when I read his speech on the perils of raising the debt limits.
Obama blames crongess when they have already said they are open to new rev. but the democrats fail to offer any cut on the welfare. Forget about a budget with Obama, Reid and Polisi not of them could even figure out what a budget is let a lone read one all they want to do is spent the people broke and the Democrats are just to stupid to figure it out. If you are spending 40 percent more than you are taking in it is only a matter of time before they will need everyones pay to pay our debt. Again what right do you have to take money from hard working Americans and give it to people who will not even get off of the couch to go to work and the Democrats think that is fair. Give me a Break. I hope we do go off the fiscal cliff and people will see just what Obama is really about.
Everyone ignoring the obvious question, why do we need to raise taxes by 1.6 trillion dollars? What is that money for? How is it going to be used?
Along with that proposed increase is the proposed extension of the Payroll Tax Holiday, which costs $100-110B annually. That only nets an increase of $50-60B annually and a proposed spending cut of $40B per year.
And the proposal includes a $50B stimulus.
Enact the FairTax, the idea has been around for close to ten years and Bill HR25 has been sitting on Harry's desk for about that long.
The rich will pay more taxes ( they spend more ), the middle class will pay about the same, and the 47% will pay their part.
Prices will go down, employment will skyrocket and the only reasons you won't be working is you are actually disabled, too old, or just don't want to.
Republican, to a person are for it and guess what?, democrats are against it, why?, because it will work and the democrats lose their arguments.
My big question is: "What's wrong with going back to the same policies of Bill Clinton?"
The economy grew under his wing, we actually had a budget surpluss (Which rarely happens)...what's wrong with that?
Even more, I think it's completely unfair that someone who practically gets a paycheck served with their breakfast, lunch and dinner pays the same tax rates as a person who's forced to live off of a single paycheck on a weekly basis. That completely violates the principle of Vertical Equity, where people with higher incomes pay higher taxes (Not to mention completely ignores the reason why many of the taxes in our country are Progressive).
Going over the cliff will give you the Clinton tax rates. You don't remember Contract with America initiated by Newt and the Republicans? That is where the balanced budget came from.
Under our tax code, the more you make, the higher the tax rate. When you earn money that has been taxed and invest that money, your return on those investments isn't taxed at the normal rate because you have already paid taxes on it.
Why don't you just move to France, Greece or any one of those socialist countries, then maybe you will be happy. The only reason the economy grew under Hillbilly Bill was because of the internet.
What are you smoking Joe?
KristopherKluhsman- Is your Vertical Equity principle from Karl Marx or Vladimir Ilich Lenin text books? Do you figure that 30-49% from 5 mil is the same as from 50 thou? Who`s forcing u to live off a single pcheck weekly? invest, risk your OWN money, build a busines and get rich.But that is too difficult for the likes of u. Is a lot easier to hate the rich. Are u born that way or they teach u in schools?
Put Keystone on the table. They get Keystone for his tax policy.
You could gild President Obama's proposal and you still have an inresponsible proposal covered in gold.
I use to think that there couldn't be that many idiots out there. But this election proved me wrong. Our country has turned into takers and delusional ignorant liberals who have spear headed Obama's agenda, which no one really knows for sure what that is. He has masterfully divided our country, pitted people against each other and added 6T dollars in just 4 years to our problems.He stands for everything this country is not. Thanks to all of you that voted for him.
Joe, you are a whiney loser. You right wingers won't be satisfied until there is no middle class.
No, the problem is that people like you just don't get it. The whole country needs to wake up for everyones sake. I really don't care who is running the country just as long as they don't screw it up. This stuff should all be common sense.
Obama and Biden and Pelosi are all complete Morons. I simply cannot believe how stupid they are...Especially Pelosi. I guess when you consider how ignorant the voters are, it's not too surprising.
Every man, woman and child owes about $49,000.00 each to break us even. I've got my family's share ready to go, lets pay it off and quit bickering. Oh yeah, I'll pay for one Hobo too.
You will never pay it off. I've already paid over 49k several times so what are you waiting for, send in your check.
If we do not have Americans working then it doesn't matter if the tax rate is 100%. You will not generate one dime.
No Income = No Tax
No Tax = Bankrupt Government
The key to our future success is putting as many Americans on the payroll as possible.
I guess when you have so many stupid voters, you get stupid politicians.
Yea, but the stupid voter is voting for more freebies and the rest of us are voting for a " sane " govt.
Amen!!
More whiney losers with no real solutions.
For the cost of one bullet, we could end this madness.
I think someone is going to be knocking on your front door very soon, LOL
That don't sound right!!
You are a hate filled moron. May whatever god you pray to take you quickly.
Everyone ignoring the obvious question, why do we need to raise taxes by 1.6 trillion dollars? What is that money for? How is it going to be used?
The year 1 revenue of $160B will cover the Payroll Tax Holiday extension and the proposed stimulus.
The richest were the beneficiaries of the majority of our national debt.
Now Republicans want the poorest 98% of Americans (and their children and grandchildren) to pay off that debt that mostly benefited the rich.
Thank goodness Americans are demanding that the rich pay their fair share.
Harbinger, where do you come up with nonsense like that??
You obviously don't know where the majority of the budget goes. The lion share is entitlement spending.
Wrong, the majority is defense spending. And entitlements includes social security, medicare, etc. So the elderly that built this country aren't entitled to live out their lives above the poverty level? This whole new republican cry of "takers" is such nonsense. A bunch of whiney losers.
gman, you seem to be a know it all, answer me then where do cuts come from then. My answer is across the board, welfare being the first. If we have Obamacare, and the poor pay nothing, then why do we need medicaid, medicare and planned parent hood??
gman61
The sum of "entitlement" spending exceeds the DOD budget. Right, wrong, or indifferent, entitlement spending exists because Congresses past created it so.
As a percentage we should all pay the same and capped at 10%. We will no longer have to hear about the 50% that does not pay taxes unless we have 50% unemployment. We are making this way to hard.
If the 47% started paying 10% then you get a 47% increase in revenue, now I don't know how that translates into real dollars, but I am sure a democrat will argue it.
No it doesn't. If those 47% earn only 1% of the total income of the nation that would mean only a 4.7 percent increase. BTW, the 47% pay taxes, just not federal income tax.
Obama keeps right on strumming his one-string guitar. He has NO INTENTION of striking ANY deal to avert a financial catastrophe for the people of this nation. He is simply out making the rounds politicing, posturing to blame the Repbublicans for his own lack of leadership, his own divisiveness, and his own lack of respect for both the Constitution and the laws of this nation. Think about it: once the bus you are on speeds over the cliff and you fall to your death, do you REALLY give a ___— who was driving the bus? It's time for the passengers on the bus to get out of their seats and take control of the steering wheel themselves.......LET'S ROLL!!!!
" He has NO INTENTION of striking ANY deal.."
And you know this how?
Obama has a history of "its my way or the highway" in negotiations. Did you just wake up and only listen to him when he was campaigning? Do some research golfsleft.
So Obama want unlimited power to raise the debt ceiling.....sounds to me like a power grab.....but I think he forgot his own words........
The fact that we are here today to debate raising America's debt limit is a sign of leadership failure. It is a sign that the U.S. Government can't pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government's reckless fiscal policies.
And the cost of our debt is one of the fastest growing expenses in the Federal budget. This rising debt is a hidden domestic enemy, robbing our cities and States of critical investments in infrastructure like bridges, ports, and levees; robbing our families and our children of critical investments in education and health care reform; robbing our seniors of the retirement and health security they have counted on.
Every dollar we pay in interest is a dollar that is not going to investment in America's priorities. Instead,interest payments are a significant tax on all Americans–a debt tax that Washington doesn't want to talk about. If Washington were serious about honest tax relief in this country, we would see an effort to reduce our national debt by returning to responsible fiscal policies.
Increasing America's debt weakens us domestically and internationally. Leadership means that "the buck stops here. Instead, Washington is shifting the burden of bad choices today onto the backs of our children and
grandchildren. America has a debt problem and a failure of leadership. Americans deserve better.
I therefore intend to oppose the effort to increase America's debt limit.
Sen. Barack Hussein Obama, Jr., (Senate – March 16, 2006)
Tax and Spend Campaign! This President - who i voted for - is now off and running with a campaign to convince the uninformed that by raising taxes on th "rich", he can solve all the problems and the entitlements, spending will no longer be a problem. what he wont tell you is that this proposal only barely covers his deficit spnd for 2012, not counting the deficits of the previous 3 years or the OMB estimates for the next 10 years.
If government spend(not budgets) is not curtailed and reduced dramatically, the fiscal cliff WILL be met and everyone will be required to pay massive tax increases and lose benefits in the future.
I will not pay anymore taxes. I will quit my job and head to the local unemployment office and then the welfare office and what other free office I can find.
I will kick back and wait for some sanity to return to our Government. It is not raising taxes it is cutting all the fraud, waste and abuse of the Taxpayer's Dollars. The more money the Government takes in the more money the Government will spend.
If you quit your job, you will not get unemployment.
Voodkokk
Do you earn over $250,000 a year? If you don't you won't pay any more taxes.
golfsleft - and you stupidly BELIEVE that BS? What do you think BUSINESSES, who are who will be hit with the stupidity, will CHARGE to INCREASED TAXS TO moron?
Idiots like you golstupid that have not lived long and worked even less a period of time have a LOT OF LEARNING TO DO. You have repeatedly shown you are an idiot by spewing the same BS Obama and other lazy azz moochers spew. Get a freaking brain, and get a job instead of thinking everyone else that has WORKED and MADE something OWE YOU what it THEIRS.
Why do you freeloading moochers think that those that have worked for 30 to 40 years and PAID TAXES all their lives OWE YOU THEIR MONEY?
I actually saw a Free Phone Tent yesterday where you can get your phone and your 250 minutes. The people that have a phone bill and pay are picking up the tab. Take a look at your phone bill and look at the taxes you are paying.
So you don't like what Reagan started?
And if you don't like it don't have a phone.
The program, which began in the mid-1980s, has exploded in the past four years after being expanded from supplying landlines to the poor to providing cellular phones.
A Mexican telecom mogul , and one of President Obama's top donors are both getting even richer from the U.S. government program that supplies so-called "Obamaphones" to the poor.
Carlos Slim, who has an estimated net worth of $70 billion, owns a controlling stake in TracFone, which makes $10 per phone for each device it provides to poor Americans. The company, whose president and CEO is Frederick “F.J.” Pollak, also makes money from extra minutes and data plans it sells to subscribers who get phones and service through the government's Lifeline program.
First of all having a cell phone is not a basic necessity. Secondly since becoming a cell phone program 4 years ago Subscribers have been able to sign up for more than one phone, even though only one per household is allowed. The FCC found about 270,000 duplicate subscriptions in 12 states alone in 2011. The FCC says its overhaul will save $200 million this year, and $2 billion over three years.
Obama wants 1.6 trillion in new taxes. What is that money for? How is it going to be used? Is it to grow the government even larger?
Buy more votes for the democrats.
The $1.6 trillion is to help reduce the deficit.
golfdleft
You can't really believe that?? Nobody is that stupid.
You post "Buy more votes for the democrats." and you call me stupid?????
According to the CBO "..the budget deficit would shrink markedly—from nearly $1.1 trillion in fiscal year 2012 to about $200 billion in 2022.."
Yes I do.
The $1.6 is spread out over 10 years.....he wants 50 billion for stimulus he also say he will cut 400billion but when and what he has not said....and to top it off he wants unlimited authority to raise the debt ceilingwithout having to get congressional approval.....that is real leadership ......ROFLMBO
The debt ceiling thing is just something he will give back as part of the negotiations.
Stan: The debt ceiling, was raised I think about 27 times under the Bush administration, and was never questioned! Now under the Obama administration it is used to hold the country hostage! We do not need a debt ceiling,! The leaders need to work together to reduce spending and raise taxes on the top ten percent to bring things back under control!
dale....there was a difference with Bush....they all went thru CONGRESS....Obama wants to be able to raise it on his own without congressional approval...:0)
Stan : What difference? The Bush had control of all three houses for six years ! The debt ceiling is a man made ceiling, there should not be a debt ceiling, The debt ceiling is useless! s o far both Parties raise the debt ceiling every time they need to, Having the debt ceiling is a waste of time, the congress and senate, and the President should work on the problems instead of fighting over a so called debt ceiling!
Dale it would appear you can't READ...I said Bush went through congress,,,,Obama wants to be able to raise the debt ceiling all by himself...THAT IS THE DIFFERENCE
Stan : You need to understand there is no reason to have a debt ceiling in the first place period!!! It is A waste of time and money! I know it is hard for you to understand this, but, the United States is the most stable country on earth, they all ways pay their bills! and they all ways will! A debt ceiling is just something the country does not need to gum up time that can be used to work on other problems!
40 cents of every tax dollar is going to cover interest on over 16 trillion of our debt and this does not include the waste and fraud that is taking place throughout our government. We have agencies having get away parties drinking and laughing about how stupid the tax payers are costing over half a million dollars a piece, workers earning 6 figure salaries to watch porn 8 hours a day while Bernie and his Wall Street / Banking buddies stole our money and retirement funds, our borders have gone so unprotected it now impacts our elections, and the list is endless.
As for the $1.25 trillion over 10 years who the heck is stupid even to believe this since they are adding that much to the debt every year Obama has been in office and still NO Freak'n Budget. So taking Obama out of this who in their right mind thinks that over 10 years and 4 presidental elects they who stay in place? Remember this is our government that can no produce a budget, steals from our social security funds, and us on the hook to China.
Maybe government salaries should be proporal to our debt? We are at 40% so all those elected need to take a 40% pay cut.
Dale I understood what you said but you did not understan what I said...and without the debt ceiling everything goes bye bye so for now it is a part of life...that needs to change...change starts with Obama leading not dividing like he has...that is not leadership....you may think he is but wrong...A leader does not take 20 days and go to Hawaii, when he should be in DC trying to get things done...no he just figures he can do the same thing he did during his campaign and not worry....he did the same thing with Bengahzi...he should have stayed to find out what was going on...no he had to go to sin city Vegas to party and collect money...that is not leadership
Why is the Republican plan games. I don't think the Republican's plan gained things to guy in the front office is doing that. Look, the deal. He offered to them and you Democrats say the Senators a joke the jokes Brenda front office ever since 2009. That's the joke and you guys putting their the jokes on the American people you don't get it do you the chairs still empty discussed day empty until someone put someone there to ask. He knows what the hell they're doing. Don't bitch you guys putting their and what what does the Republicans have to lose by not going along with your so called Pres., dignity if you know what that is. And the better not give in to any Democrat ploy to go over the cliff we go over it. They're going to get to blame either way, so they've got nothing to lose, so why not stand for what you believe in this got nothing to lose and nothing to gain the only one has anything to lose is the one guy in the front office and he's no lose a lot before this next four years is over. I want all you liberals to be happy that you put us in this situation. So we all will have to suffer in live through the next four years. It's your fault you wanted it. You got it. Live with it. No bitching no complaining you get what you voted for in this is exactly what you voted for all us Republicans can bitch all we want, we didn't vote for a loser like this. That's right, I said loser yes. The Democrats want. But the United States lost. Take that and put it where the sun doesn't shine. I'm tired of your crybaby attitude every time somebody turns around or says something we hurt your feelings on sorry about your feelings get a life, and above all grow to hell up and another thing, go get a damn job and could live in off the government. You people think the government is elected is the best thing happening. You see what is doing to you now is also make in this country weaker this a ministration is the worst ministration ever in its current go down in history that way, the ministration that asked to destroy the United States and you are called at saving it, I shouldn't you should be ashamed of yourselves every damn want to you liberals out there. You should walk around your head between your legs saying you're sorry to this country and to the people in it. As long as him into it. I'm undergoes get this off my chest to my UAW brothers and sisters out there. You should be ashamed even more ashamed and the rest of these liberals you took money from the government and you haven't paid it back yet. But yet you you give out bonuses to all the workers that stealing where you like it or not that's what it is. So now you can be known as thieves from stealing from the American people. You may not like the term, but that's what it is in yes, I'm a UAW retired worker am ashamed of you. You should be ashamed of yourself by no you won't be you think you did this country great, but put this man back in office all you did was hurt. It badly in you all are fault for this if there's any other retired UAW members out there that feel the same as I do speak up. Don't be afraid the UAW is going to take away your retirement, or if your benefits are not going to do that it now if they did try people be liars all over their butts in the be happy to take the case. So I said enough go out and have a bad day like I'm having I just get so frustrated over these liberals think in the know what's best for me and they don't know what's best for anybody, especially this country goodbye.
Take the meds! Take the meds!
WOW, dude you really need to proof your paragraph. It is so full of incomplete sentences, I have no idea what it is you are trying to convey. Your thoughts are scattered and not complete.
When the 47% become the 51% it will be time for everyone else to start looking for a new country to move to. Costa Rica is growing, some of the Bahamas, and a few other places. Once the 51% fugre is hit, there will be no fixing it.
Go. No one is stopping you. I'll help you pack.
gman61
No thanks, I am a republican and can help myself, unlike you living on OPM'S
Settersperch: Talk, talk, and more talk! I have yet to see any of the ones claiming they will leave do it!
The Republicans need to vote to extend the tax cuts for the people making less than 250,000 this is a no brain er! The middle class has taken the brunt of this recession, the top ten% has not ! The President ran on this ,! The American people want this , It is time that the GOP starts working for the middle class a little!
obama is proposing the nancy pelosi obamacare train of thought, let's pass the bush tax cut for 98% and we'll see what's in the future bill about tax cuts.........you just can not raise the debt ceiling forever like he wants to do......trust me.... our tax increase and a big one is just around the corner.
Harbinger - Obama has sold you a lie. He has no mandate supporting his position on taxes, the national debt, the fiscal cliff, or his support of entitlement programs. His claim to such a mandate by virtue of his re-election is A BALD-FACED LIE. Obama won by virtue of supporting whatever cause which he correctly deemed would win him significant blocks of votes. He won the Hispanic vote by championing ILLEGAL immigration (a.k.a "undocumented workers") via his refusal to uphold the Constitution and the laws of this nation. He won the homosexual vote by supporting gay marriage and turning his back on the teachings of the Bible and morality. He won the women's vote by supporting the MURDER of unborn children within their mother's wombs (a.k.a abortion). He won 95% of black Americans votes simply because of Mr. Obama's race (not P.C, but you KNOW this is true). He won the vote of those already enslaved by a lifetime of government sustenance via entitlement programs. These groups were unconnected by ANY central issue, let alone the tax/debt/entitlement mandate that Obama FALSELY claims.
Romney won 71% of white male votes (not PC but fact.) What's your point?