Tax math shows top rate is just a starter

  • Article by: JACKIE CALMES , New York Times
  • Updated: December 8, 2012 - 8:56 PM

Even if Republicans move toward a concession on tax rates, they'd be only a quarter of the way toward the number Obama wants to collect in new revenue -- signaling the scope of the major tax issues left to be negotiated.

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hewonwelostDec. 8, 12 8:22 PM

I would say that roughly 80% of the people that voted for Obama have absolutely no idea what this guy is all about. Too bad they may know by the end of his second term. It's a shame that people don't educate themselves on such important issues, and just blindly listen to his idiotic rhetoric. This is going to get real ugly very soon, and you sheep who thought you would not be affected are in for a big surprise.

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tnesleyDec. 8, 1210:23 PM

His tax the rich is all politics and symbolic. It is covers about 1% of the annual defict of $1.3T. But Obama and the DEMs demonized the GOP on tax the wealthy, any good will is gone. Unless the DEMs show some back bone on hard decisions to cut spending, the nation will sink further in to this economic black hole.

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jpcooperDec. 8, 1211:12 PM

tnesley "Unless the DEMs show some back bone on hard decisions to cut spending, the nation will sink further in to this economic black hole.

Even if the Dems agreed to spending cuts history tell us they will reneg on those agreements. They did it to Reagan and Bush I. I say stick with the current agreed to plan of eliminating all the Bush tax cuts and the automatic spending cuts. Together they will cut our deficit by %540B in 2013. Now thats a step forward to fixing our fiscal problems

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Jakein08Dec. 9, 1212:25 AM

"Class Warfare" has been going on for 3 decades and the top 2-5% are destroying the rest of us. It is high time the tax laws change, our country is 16 trillion in debt while the rich get richer and the middle class stays stagnant. In addition to what Obama has proposed, tax all income as earned income for those making over 1 million! Stick to your guns DFL, these tax laws need to change.

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texas_technomanDec. 9, 12 6:13 AM

30 years of cutting taxes has resulted in a huge deficit and crumbling infrastructure...along with a huge income gap. Raise the capital gains tax and income tax on the top 1%, and slash the defense budget. It was $300B in 2000, now it is over $700B. And you wonder why we are in debt. Defense spending is just corporate welfare for the MIlitary Industrial war machine.....

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my4centsDec. 9, 12 8:02 AM

Jakein08, the top 2-5% are paying more dollars in income taxes then ever before. How much should any one person have to pay in taxes? Besides, raising tax rates has NEVER brought in the amount of revenue that the "experts" project. The wealthy simply change their behavior, either by working less or adjusting their investments. The best way for the middle class to prosper is to limit governments ability to benefit some businesses over others and let everyone compete on an even playing field.

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theagonybhoDec. 9, 12 8:09 AM

Jakein08, thats the plan, the Government is broke because it cant control its spending so lets take money away from a few so we can spend more. The taxes you suggest and the military cuts would run the Government for 6 months, next idea please.

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drfranktDec. 9, 12 8:16 AM

If taxes are going to be going up, and the will, everyone's taxes should be going up...and they will, despite what your messiah has been spouting. Once obamacare kicks in full strength, people will have to be kicking in the cash for those millions that won't pay anything. There is not enough "rich" folks in the country, nor enough of a "tax base" to cover the cost of obama's program. His legacy will be that of driving the USA into bankrupcy. Thank God he can't run for a 3rd presidency, because there will still be plenty of those with that euphoric glaze in their eyes, sipping the obama koolaid, living in never-neverland, that would blindly cast their votes for the community organiizer.

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clnorthDec. 9, 12 8:57 AM

"Thank God he can't run for a 3rd presidency" Give them time. They will find a way to make him king.

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formergopDec. 9, 12 9:28 AM

Lets start taxing campaign donations. After all they are really just income taxes for the canidate.

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