No gain in support from independents for Obama after tax deal. Big hit from left!

[Quixote1818]

Among Democrats, Obama's job approval rating fell to 74 percent from 83 percent a month ago, and dropped among liberals from 78 percent to 69 percent.


http://www.politicsdaily.com/2010/12/12/obamas-support-slips-among-democrats-and-liberals-after-tax-dea/

[FrenchieCat]

1. So you think he did it for the poll numbers?

Cause I think he did it exactly for the reasons he stated.....
if those listening care to remember.

Anyone looking at these numbers should make sure not to look too long
at the Bush tax cuts as they are, as that scenario is not an option
being offered.

But then for some, until it hits home....who needs money to afford childcare?
Why not just let them play out in the streets.....so that we can make sure the
2% don't get what they've been getting, and make sure we worry about the deficit
all of the sudden.

Indies ain't too smart...but when they finally see the NUMBERS if nothing is done,
THEY WILL FREAK THE FUCK OUT.

Scenario # 1 - single person earning $10,000

Currently w/t Bush tax cuts:
Single person earning $10,000 per year.
Taxable income in 2010 is $650.
Tax @ 10% = $65
Make Work credit is $400
tax liability is REFUND $335


With No deal & Bush tax cuts expired:
Same person earning $10,000 per year.
Taxable income in 2011 is $650.
Tax $ 15% = $97.50
No more Work credit
Tax liability is PAY $97.50


With tax compromise:
Same person earning $10,000 per year.
Taxable income in 2011 is $650.
Tax $ 10% = $65
No more Work credit
add 2% in Payroll tax deduction of $200
Tax liability is REFUND OF $135

Scenario # 2 single person earning $18,000

Currently w/t Bush tax cuts:
Single person earning $18,000 per year.
Taxable income in 2010 is $8,650.
Tax @ 10% = $884
Make Work credit is $400
tax liability is PAY $484


With No deal & Bush tax cuts expired:
Same person earning $18,000 per year.
Taxable income in 2011 is $8,650.
Tax $ 15% = $1,297.50
No more Work credit
Tax liability is PAY $1,297.50


With tax compromise:
Same person earning $18,000 per year.
Taxable income in 2011 is $8,650.
Tax $ 10% = $884
No more Work credit
add 2% in Payroll tax deduction
Tax liability is PAY $524

Scenario # 3 Married Couple w/o chilren earning $25,000

Currently w/t Bush tax cuts:
Married Couple earning $25,000 per year, without children
Taxable income in 2010 is $6,300.
Tax @ 10% = $633
Make Work credit is $800
tax liability is REFUND of $167


With No deal & Bush tax cuts expired:
Same couple earning $25,000 per year.
Taxable income in 2011 is $7,950 (due to change in marriage penalty)
Tax @ 15% = $1,192.50
No more Work credit
Tax liability is PAY $1,192.50


With tax compromise:
Same couple earning $25,000 per year.
Taxable income in 2011 is $6,300.
Tax @ 10% = $663
No more Work credit
add 2% in Payroll tax deduction of $500
Tax liability is PAY $139

Scenario # 4 Married Couple w/t 2 children earning $25,000

Currently w/t Bush tax cuts:
Married Couple earning $25,000 per year, with 2 children
Taxable income in 2010 is $ ZERO.
Tax @ 10% = $ZERO
Child tax credit is $2,000
EIC (earned Inc. Tax Credit) = $4,415
Make Work credit is $800
tax liability is REFUND of $7,215


With No deal & Bush tax cuts expired:
Same couple earning $25,000 per year with 2 children.
Taxable income in 2011 is $550 (due to change in marriage penalty)
Tax @ 15% = $82.50
Child Tax Credit given= $82.50
EIC (earned Inc. Tax Credit) = $3,362
No additional Child Tax Credit given= $ ZER0
No more Work credit
Tax liability is REFUND OF $3,362


With tax compromise:
Same couple earning $25,000 per year, with 2 children
Taxable income in 2011 is $ ZERO.
Tax @ 10% = $ ZERO
No more Work credit
EIC (earned Inc. Tax Credit) = $4,415
Child Tax Credit given= $2,000
add 2% in Payroll tax deduction of $500
Tax liability is REFUND OF $6,915

Scenario # 3 Married Couple w/t 2 children earning $40,000

Currently w/t Bush tax cuts:
Married Couple w/t 2 children earning $40,000 per year.
Taxable income in 2010 is $14,000. (without itemization)
Tax @ 10% = $1,403
Child Tax Credit given= $1,403
Tax Liability = zero
EIC (earned Inc. Tax Credit) = $1,256
Make Work credit is $800
additional child tax credit of $597
tax liability is REFUND of $2,653


With No deal & Bush tax cuts expired:
Same couple earning $40,000 per year.
Taxable income in 2011 is $15,550 (due to change in marriage penalty)
Tax @ 15% = $2,332.50
Child Tax Credit given= $1,000
EIC (earned Inc. Tax Credit) = $203
No more Work credit
Tax liability is PAY $1,129.50


With tax compromise:
Same couple earning $40,0000 per year.
Taxable income in 2011 is $14,000.
Tax @ 10% = $1,403
Child Tax Credit given= $1,403
EIC (earned Inc. Tax Credit) = $1,256
No more Work credit
additional child tax credit of $597
add 2% in Payroll tax deduction of $800
Tax liability is REFUND OF $2,653

[rocktivity]

2. Now all we need are the numbers on how much bigger the deficit will get

How much Social Security benefits will be cut, how much tax revenue we'll lose from the estate tax reduction, and what everyone's share of the resulting debt would be.

:headbang:
rocktivity

[ArcticFox]

3. I second rocktivity.

[saracat]

4. Actually many Indies are very smart. Most aren't in thrall to any candidate or ideology.

More and more Indies are former Dems, and many were originally Dems who felt the part wasn't left enough. Many are of course conservative as well.Interesting you say they aren't very "smart " because they are the group that gave Obama the election. Were they "smart " then or have they just recently become stupid?

[BlueCaliDem]

7. Indies are not politically astute and can't be bothered to be. They gave

Obama the election because of the HYPE.

It's all about HYPE with most of them, and who makes the most noise.

Sure, I agree that some are disenchanted Democrats and shamed-faced BushpubliCONS, but generally, Indies are NOT politically smart otherwise they would have ignored the millions upon millions of dollars of attack ads by the U.S. CofC and Rove's 2 Crossroads, seen the obstructionism by the GOP in Congress that blocked progressive bills, and Democrats would have still held on to the House after last election.

[emilyg]

8. The indies I know are

very well informed.

[saracat]

20. Yes, they are and it is incredibly stupid to bash them. But I guess

their votes aren't wanted either!

[BlueCaliDem]

21. The few Indies I know, are too, but they were once Democrats

but turned from the Democratic Party when they turned their backs on Gore in 2000.

The Independents/exRepubliCONs are as dumb as the backend of an ass.

[saracat]

19. Actually, it is likely more Indies voted in 2010 than Dems so as to who lost Congress

, for the Dems is up for Debabte. A lot of superficial "Dems" only vote for president and only vote every four years, which is worthless.

[Martin Eden]

5. Scenario #'s 1, 2, 3, 4, 3

If Obama's deal passes the deficit will rise and any effort to reduce the deficit will be the kind of cuts to Social Security & Medicare that Obama's Deficit Commission has already recommended.

Tax cuts for the rich, and cuts to programs for the least fortunate Americans.

Sure, everyone gets tax cuts -- including the "payroll tax holiday" the Right has been pushing for years as one more step towards dismantling/privatizing Social Security.


It didn't have to be this way. Obama folded even though he held a much stronger hand.

[BlueCaliDem]

6. I second FrenchieCat. This is the actual scenario we are facing today

Rocktivities is still speculation and conjecture since the bill can be adjusted any which way still.

With FrenchieCat's scenario, this is how it's going to be starting January 1st upcoming, unless something is done between now and then.

Thank you, FrenchieCat. :-)

[Gin]

11. I voted for Obama....the other option was unthinkable....dear god

just the thought of McCain and his carny VP scares the shit out of me...

I was leery but believed he would be more of a democrat than a republican....he fooled me once.

[Bluenorthwest]

13. I look at that list and see that this marriage bit is a cash cow

Too bad for us we are not Donnie McClurkin Brand Sanctified types around here. Damn. Do whatever with this bigoted, fucked up tax code. I get screwed no matter what. God bless America.

[apocalypsehow]

9. I notice no one is quibbling with your facts, just other, extraneous things in your reply.

Very telling, that.

Excellent post. :thumbsup:

[Better Believe It]

10. That's not why he's doing it. He's doing it because that's what Wall Street and the GOP want.

[golddigger]

12. Yep, seems people don't want to face that fact.

[harun]

14. Majority here knows it.

[Hello_Kitty]

15. The Bush tax cuts aren't going to expire for any of these people. The strawman is getting tiresome.

If it doesn't happen in the lame duck the GOP will vote for the compromise and make it retroactive.

[Quixote1818]

17. + 1

nt

[BlueCaliDem]

23. And you know this HOW? Insider info? eom

[Hello_Kitty]

25. Reading reams of articles about it.

Find me one reputable source that is seriously posing letting all the tax cuts expire as a likely scenario.

[BlueCaliDem]

26. Yeah. I see what you mean. eom

[TheKentuckian]

24. Nobody is cobbling together day care with this little money.

A lie designed to tug the heartstrings enough to let more generational theft and winding down of our economy go.

The meat of the benefit is for the top 20%. As you get down where real people live we are talking a few dollars a week.

[Hello_Kitty]

29. People are losing daycare because of state budget cuts.

Which is happening because of tax cuts.

[eridani]

28. And then they get Social Security and other programs that benefit them completely gutted

Most people eligible for Basic Health in WA would cheerfully pay an extra $1000 just to maintain that coverage, but they won't get to.

Payroll tax cuts are like loan sharks--a little money now and big fuckover later.

[Scurrilous]

16. We're screwn!!

:o

[ibegurpard]

18. yes I do...this was to be his liberal-bashing Sistah Souljah moment

I hope it bites him in the ass

[FrenchieCat]

22. If it was up to you, by now, this President wouldn't have an ass, if he'd even be President.....,

nor will the next one, and the next one, and on and on and on.....

[DeadEyeDyck]

27. K&R

[Imagevision]

30. Oh c'mon, we've been had by Obama - get over it new Dem Prez candidate for 2012

no-one is irreplaceable...

[EFerrari]

31. Who could have seen that coming.