Dems: We’re not bound by president’s tax vow

[The Northerner]

Democrats are looking at the possibility of raising taxes on families below the $250,000-a-year threshold promised by President Barack Obama during the election.

The majority party on Capitol Hill does not feel bound by that pledge, saying the threshold for tax hikes will depend on several factors, such as the revenue differences between setting the threshold at $200,000 and setting it at $250,000.

“You could go lower, too — why not $200,000?” said Sen. Dianne Feinstein (D-Calif.). “With the debt and deficit we have, you can’t make promises to people. This is a very serious situation.”

Sen. Byron Dorgan (N.D.), chairman of the Senate Democratic Policy Committee, concurred, saying, “I don’t think there’s any magic in the number, whether it’s $250,000, $200,000 or $225,000.

“The larger question is whether we’ll be able to extend the tax cuts for middle-income folks,” Dorgan said. “The answer, I expect, would be yes, but we don’t quite know how it all fits in the larger picture.”

Feinstein said the economy has not recovered as much as Democrats had hoped and uncertainty about the availability of credit remains a problem.

Read more: http://thehill.com/homenews/senate/104919-dems-were-not-bound-by-presidents-tax-vow

[Cant trust em]

1. Good luck with that position in an election year, guys. nt

[Angry Dragon]

2. What is the breakdown in real numbers

How many people in each income range, say starting at $50,000 and below and going up in $50,000 increments??


Gross Income Americans % of Population These are numbers from 2002
$1 – $50,000 92,594,960 71.185% 130,076,445 Total income tax returns from 2002
$50,000 – $75,000 17,396,916 13.374%
$75,000 – $100,000 9,247,839 7.110%
$100,000 – $200,000 8,422,603 6.475%
$200,000 – $500,000 1,908,466 1.467%
$500,000 – $1,000,000 336,684 0.259%
$1,000,000 – $1,500,000 78,121 0.060%
$1,500,000 – $2,000,000 31,316 0.024%
$2,000,000 – $5,000,000 44,205 0.034%
$5,000,000 – $10,000,000 10,026 0.008%
$10,000,000 + 5,309 0.004%

[Hannah Bell]

13. more to the point, what is each group's % share of income?

[sandnsea]

3. This is the argument? Really??

Oh for fucks sake, yes move it down to $200,000 and extend the tax cuts for working income families. That is a no-brainer. I cannot believe the stupidity these people will find to argue about.

[movonne]

4. I agree with you....

[Andy823]

5. I also agree with you

Politicians just like to argue, and no matter what they decide, the right will be against it so who the hell cares!

[Goldstein1984]

Or how about...

we stop doing half the world's "defense" spending?

Maybe work on our people skills a bit.

Make a few friends.

We could spend less money on things that go boom.

[Coyote_Bandit]

6. Does anybody remember

what happened to the guy who said "read my lips, no new taxes"?

[hfojvt]

8. I think this is a tougher sell though

Republicans will say "he raised taxes" anyway. If they try to whine about "he raised taxes on people making $200,000 a year" most people are gonna look at their paychecks see that they make far, far less than $3500 a week and shrug their shoulders.

[sandnsea]

9. This is between $200,000 & $250,000

Puhleeze. Nobody will care.

And Obama didn't say no new taxes - he said no new INCOME taxes.

[NoNothing]

14. Actually

"Under my plan, no family making less than $250,000 a year will see any form of tax increase. Not your income tax, not your payroll tax, not your capital gains taxes, not any of your taxes."

[laughingliberal]

18. Yes. I also believe I remember him using the phrase, "...not one dime." nt.

[sandnsea]

21. Well I think he's already broken that then

I believe he implemented an investment income tax to help cover some of the health care bill. That doesn't count the cigarette tax, tanning tax, premium tax.

I still don't think there are enough families making $200,000 a year to matter. They should have been paying for this war and most of them know it.

[Igel]

19. Even if you were right in your "quote"

and poster 14's quote wrong, it wouldn't matter.

Pelosi et al. were speaking specifically about income taxes.

[AndyA]

7. Reality check to Democrats in Congress: What?!?!?!

In case you isolated, insulated people haven't realized it, up there on your cloud floating high about the real world, we are in a recession. People DO NOT HAVE JOBS. This is an election year. NO ONE LIKES HIGHER TAXES.

This will give the GOP the leverage they need to make this an issue during the election.

Hey, here's a novel idea: Why not instead of raising taxes, why don't you find a way to CREATE NEW JOBS--HERE IN AMERICA--that will raise the tax base? That would bring in a new supply of tax income.

Please note: Creating jobs over in India, or some other country will not work.

Try this, and some of you may just get yanked off your cushy little clouds.

[HughBeaumont]

10. But how would creating jobs be "zero-sum"?

Remember, it's not enough that corporate America and the wealthy succeed, but that everyone ELSE (that would be us) must fail. Middle/Working/Poor classes coming up short again and again and again is what makes this country GREAT - it builds character and resilience. I mean, after all, if they gave you everything you ever wanted, how would you be . . . "competitive"?

:sarcasm: if it really needs to be said.

[FrenchieCat]

11. Those Dems can simply dust off the guillotine and get their neck accustomed to undue pressure.....

cause talking about raising the taxes of those who are hurting the most,
a few months prior to an election is certainly something close to preparing
to commit suicide!

[sandnsea]

22. Families making $200,000 a year??

Did we read the same article? That's what they're talking about, not the below $100,000 a year real middle income households.

[DailyGrind51]

12. No magic number? Go as low as $30,000, why don't ya?

[AnArmyVeteran]

17. I think we should tax the poor at 90% and the rich at 1%...

Let's go all-in and adopt the conservative belief system.

(Of course I'm being sarcastic)

Why don't we end corporate subsidies and hit corporations, like the oil industry, for their massive profits made at the expense of struggling families? I'm sick of living in a country where the strongest and the richest feed off of the most vulnerable and the poor. That is a conservative utopia.

[DailyGrind51]

20. I'll go ya one further! Tax the homeless 50% of what they have in their styro cups!

[AnArmyVeteran]

24. LOLOL! But don't say it too loudly, conservatives will do it!

[truebrit71]

15. Do that, and you can kiss all of your asses goodbye..

..and I for one will have given my last contribution to this increasingly fucked up party..

[laughingliberal]

16. Alternate Headline: Democrats Bored With Majority Status. nt

[spanone]

23. ain't our party some shit?