Obama addressed taxes (capital gains) and told Blitzer that millionaires like him

[Skidmore]

(Blitzer) are getting to skate and not contribute their fair share. Tied demand for such breaks in the tax system to the condition of the infrastructure.

GOBAMA!

More of the interview to follow the commercial break.

[redqueen]

1. Hah!

God bless the rich, indeed!

To every one to whom much has been given, much shall be required!

[Kittycat]

2. I like how he made it clear about those under 100K, not getting hit

That they were considered, "solidly middle class" - they would see a break in their taxes, and their 401K wouldn't be impacted.

Admittedly, my husband and I are outside of that 100K marker, so I'm sure we'll end up paying more taxes, but I don't see a problem with that. Particularly SS taxes.

ETA: I would like to see a restructure in how school taxes are gathered though. We live in a high cost of living area, and our mortgage taxes are a nightmare, because so much supports the schools.

[hfojvt]

3. that's the state level and would not be an issue if state income taxes

were more progressive. States end up using regressive taxes like property and sales taxes and their income taxes are pretty flat.

Thus, in the state of Kansas families making $15-25,000 pay a tax rate of 12% in state and local taxes and families making $75-100,000 pay a rate of 9.1% whereas families making over $200,000 pay a rate of just 7.7%.

But Blitzer is probably not making most of his money from capital gains. A quick stat for Obama though. In 2005, 73% of the benefits of the capital gains and dividend tax cuts went to people making over $500,000 a year.

[Kittycat]

6. Yes, I understand that

but it would still be nice to see some mention/recommendation on that level.

There's a proposition here in IL, but we can't get legislators to go on record in support because it's an election year. It would change the structure from being homeowner dependent to more state tax dependent. It increases the state income tax 2%, but drops our property tax significantly :(

[uponit7771]

4. My wife and I said the same thing, Obamas plan would by around 20$ a check for us BT and we're not..

...going to cry IF it goes to more people getting what they need

[AzDar]

5. Kick...

:kick: