Obama to Raise Taxes on 940,000 Households, Says: “I’m Not Proposing Anything Radical Here”

Barack Obama held a press conference today to announce that he was going to raise taxes on top American producers.
He told the press, “I’m not proposing anything radical here.”

Obama’s tax hikes will affect 940,000 American households.
Bloomberg reported:

President Barack Obama’s plan to raise tax rates for the top 2 percent of U.S. households would mean higher taxes on the people who report 53 percent of business income reported on individual returns, according to the Joint Committee on Taxation.

The nonpartisan analysts prepared the data at the request of Republicans on the Senate Finance Committee. Orrin Hatch of Utah, the panel’s top Republican, said the document was “irrefutable proof” that tax rates shouldn’t go up.

“With our economy as weak as it is, it makes absolutely no sense to hit more and more small businesses with a tax hike,” he said in a statement.

The analysis doesn’t include data on the size of the businesses owned by top earners or estimates of how they would respond to higher tax rates. It doesn’t consider the corporate income tax or taxpayers subject to the alternative minimum tax.

If Congress doesn’t act, tax rates for income, capital gains, dividends and estates will increase in 2013. Obama wants to let existing tax cuts expire for married couples making more than $250,000 a year and individuals making more than $200,000.

According to JCT, next year 940,000 households within the top 2 percent will report net positive business income and will face marginal tax rates that would be 36 percent or 39.6 percent under Obama’s plan, up from 33 percent and 35 percent now. That represents 3.5 percent of taxpayers who have business income and 53 percent of net positive business income, the analysis said.

This follows the news that nearly 75% of Obamacare costs will fall on the backs of those Americans making less than $120,000 a year.

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#1 July 9, 2012 at 11:36 am
Blue Hen commented:

Well, at least we know now that he doesn’t care about creating jobs. He’s interested in at least being seen as waging class warfare. If he gets the money, he’ll simply spend it. if he doesn’t, he’ll whine about and then brag about no tax hikes. Sadly, the MFM will help selling this.
#2 July 9, 2012 at 11:44 am
Espresso Logic - The 6th Sense commented:

Oz Hull
#3 July 9, 2012 at 11:53 am
Chris commented:

Someone radical alwasy says nothing they’re doing is radical. Nice try, liar.
#4 July 9, 2012 at 11:54 am
Mutt commented:

Elections have consequences. The narcissistic man child is a fraud, hellbound to destroy and fundamentally change the US as promised. If this corrupt pices of crap is re-elected in November, those who believe in freedom, but have not been on the offensive, have only themselves to blame.
#5 July 9, 2012 at 12:00 pm
illiniguy commented:

I always like the statement: “But how are we going TO PAY for tax cuts?” As if reducing something requires an allocation of funds….”But how are you going pay for your diet?” By eating less moron….”pay” for tax cuts SPEND LESS!!
#6 July 9, 2012 at 12:03 pm
Devon commented:

If 90+% of illegal aliens hispanic and stopping the invaders is RACIST, why is it that 90+% of those households having their taxes raised are white is not RACIST?
#7 July 9, 2012 at 12:04 pm
ponderon commented:

http://dailycaller.com/2012/06/27/charge-that-wh-worked-with-health-industry-to-send-business-to-axelrods-firm-resurfaces/
#8 July 9, 2012 at 12:12 pm
bigkahuna commented:

I, I , I ,I , I, I, I, Me, me,me,me,me,me I cut taxes, I saved the world, I love middle class, I hate the rich, fair share, blah blah blah wahhhhh wahhhh wahhhh wha wha wha whaaa wahhhhhhhhhhhhhhhhhhh

Same garbage by the same sh*t shoveling scumbag
#9 July 9, 2012 at 12:17 pm
Limousine Barry commented:

I am raising taxes of 940,000 households. I’m not Proposing Anything Radical… just raping them Ha!

Gad, the taxpayers are stupid. They fell for Nancy Pelosi’s line about the only way to know what was in a bill was to first pass it.

What a bunch of suckers. These people deserve bend over and gracefully take the greased shaft up their tail pipes. What idiots!

I have my spin machine going in high gear and my pliable media friends are in on it. It’s fun to cheat the taxpayers. They believe every lie I tell them. Ha ha!
#10 July 9, 2012 at 12:21 pm
kato commented:

Says the parasite: “No problem. I don’ pays no taxes.”
#11 July 9, 2012 at 12:23 pm
SeniorD commented:

Anyone with two functioning neurons (which immediately excludes our Marxist Socialist Media) knows that, whenever the Struggling Socialist Stalking Horse breathes, he lies. Everything about him is a lie and 52% of the American People fell for it.

Sure, he’s ‘calling for’ an increase in taxes – but unless the RINOs in the House of ~~Represenatives~~ Ill Repute cave in (always a distinct possibility) tax bill must start there. Of course, Obooboo can simply raise taxes because he is The One.
#12 July 9, 2012 at 12:24 pm
Barky Blows commented:

I’m am not a political humor person but Iowa hawk does a humorous job at exploring the DNC spin machine.

See Iowahawk’s report: “DNC Scientists Disproves Existence of Roberts’ Tax on”

http://iowahawk.typepad.com/iowahawk/2012/07/dnc-scientists-disprove-existence-of-roberts-taxon.html
#14 July 9, 2012 at 12:47 pm
Bubba commented:

That b*tch groupie in the back ground needs to get dick slapped. And, so does Barry, for that matter.
#15 July 9, 2012 at 12:47 pm
Flintstone F. commented:

Liberalism is a disease.

Obama thinks if you’re making more than $200,000.00 a year, that you’re sitting in your mansion by the pool sipping martini’s like Hugh Hefner.

Truth is, most people with that kind of money are in the middle of juggling a small business. The business that was started by granddad that is now considering shutting down.

He says that when Bush’s tax (rate) cuts occurred it benefited only the wealthiest. But the last time I checked the unemployment rate under Bush hovered around 5-6 percent. How were we hurting more during better economic times? And those times were during and post 9/11.

Once again we get the illogical noise from Obama about paying for tax (rate) cuts as if it was the governments money to begin with. This is a suicidal move for Obama who really thinks the takers are going to get up and vote in large enough numbers. Rush Limbaugh said it way back ” He doesn’t know what he’s doing, he has no experience.” Obama is guided by a simple set of rules. Need I review them? They don’t rise above the intellect of Frankenstein’s monster when he said “fire bad.”

So like the mob who misunderstood the monster, Obama misunderstands the American people. And also like the monster, Obama can occasionally string a couple words together.

That’s about it. To become a distant memory in November.
#16 July 9, 2012 at 12:53 pm
Buffalo Gal commented:

Who says the top 2% will even stick around to pay those taxes? The nice thing about money is you can move somewhere else, even if it means to a friendlier country.
#18 July 9, 2012 at 1:06 pm
Reaganite Republican commented:

‘Not radical’ on your scale, freak boy
#19 July 9, 2012 at 1:06 pm
Liz commented:

Obama wants to lose to Romney so badly he can’t think of bad ideas fast enough. I know, how about have government mandated sexual assault on private citizens via TSA?
#20 July 9, 2012 at 1:08 pm
Blacque Jacques Shellacque commented:

“I’m not proposing anything radical here.”

I agree 100%.

When Democrats are involved, tax increases of some kind with class-warfare overtones are always part of their plans. ALWAYS.