Middle class taxes may rise anyway
July 9th, 2012
03:02 PM ET
2 years ago

Middle class taxes may rise anyway

NEW YORK (CNNMoney) - President Obama and Republicans battled Monday over a familiar dividing line: the Bush tax cuts.

While they disagree over taxing the rich, both support extending the Bush tax cuts for the middle class for one year.

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Filed under: Congress • President Obama • Taxes
soundoff (30 Responses)
  1. Myviewis

    All Democrats hate Bush yet the tax cuts they are enjoying come from Bush, afterall they are called the Bush Tax Cuts. Now middle class Democrats get to enjoy for 1 more year of Bush-era tax cuts for people earning less than $250k a year. I think middle class Democrats should refuse this 1 year extension since they hate Bush and Bush was a moron according to Democrats, how could a moron come up with something so beneficial for the Democrat middle class? Oh, wait, it is called Hypocrites!!!!!!!

    July 9, 2012 03:20 pm at 3:20 pm |
  2. California

    Obamacare already guaranteed that.

    July 9, 2012 03:21 pm at 3:21 pm |
  3. California

    Obamacare already guaranteed that. Is this their way of trying to break the rise in taxes to the middle class now?

    This is PATHETIC.

    July 9, 2012 03:23 pm at 3:23 pm |
  4. BARACK HUSSEIN OBAMA has a FAILURE PROBLEM

    You mean the ObamaScam of using my taxes to try and save his job is coming to an end? Good! Besides, Democrats believe giving the government more and more taxes is the path to prosperity. Hopefully we can all send the government 90% of what we make very soon so that we can all live in utopia as they promise. What the heck, take 95% and make me even happier.

    July 9, 2012 03:23 pm at 3:23 pm |
  5. Debbie

    I wish they would not raise anything on me....I used to be middle class, now I am poor!!!!

    July 9, 2012 03:26 pm at 3:26 pm |
  6. RealityBites

    Obama's tax cuts have actually increased the marginal tax rates because he phases out deductions and credits as people make more income. Those lost tax benefits are on top of the unchanged official marginal tax brackets. Average tax rates may have went down, but marginal tax rates went way up.

    The president said he wants “an economy where A work pays off.” But if you actually want to give me an incentive to work more it is the marginal tax rate that matters. So the solution is obvious: let people keep more of each additional dollar they earn.

    July 9, 2012 03:32 pm at 3:32 pm |
  7. Rudy NYC

    Debbie wrote:

    I wish they would not raise anything on me....I used to be middle class, now I am poor!!!!
    -----------------
    Mitt Romney says that he wants to "broaden the base." Guess what that means? More lower income people pay more in federal income taxes. That's what it means.

    July 9, 2012 03:37 pm at 3:37 pm |
  8. demwit

    $16 Trillion in debt and CNN is just now reporting that the "Middle class taxes may rise anyway"!?
    Surely you guys jousted with those GYNOMOUS pin heads..

    July 9, 2012 03:37 pm at 3:37 pm |
  9. Rudy NYC

    somebody wrote:

    "....Democrats believe giving the government more and more taxes is the path to prosperity....."
    -----------–
    No they don't. Liberals believe the way out of a recession is for government to fulfill its' roles as the "employer of last resort", the "lender of last resort", and the "consumer of last resort". Increased government spending is how all Republican presidents have lifted the country out of recession, and then they cut back. It's called Stimulus, and Republicans have always had the largest stimulative spending measures, [by far, look it up], prior to the stimulus bill in 2009.

    July 9, 2012 03:41 pm at 3:41 pm |
  10. BLKMANinAmerica

    WELL the truth of the matter is that is always the case, it is always the middle that pays for this country STUPITY

    July 9, 2012 03:43 pm at 3:43 pm |
  11. Dave

    Another broken Obama promise

    July 9, 2012 03:45 pm at 3:45 pm |
  12. Woman In California

    At least we KNOW what the president's plans are which is FAR more than I can say about Willard. Secret meetings, undisclosed tax returns and secret plans on how he would overthrow the government. All diasters waiting to happen and any person who does not DEMAND to know these things whether they are "required" or not is a fool.

    July 9, 2012 03:51 pm at 3:51 pm |
  13. Myviewis

    Let's talk math, gone is the Payroll Tax Cut, everyone will pay more to Social Security; 2.3 % tax will increase cost on pacemakers, prostetic lims, stent; (according to reports it is levied on gross sales and even on a business shows no profit); Out-of-pocket medical bills deducted on form 1040 will go from 7.5% to a higher 10% tax bracket; Flexible Spending Accounts (Pre-tax accounts) will see a $2500 annual cap imposed; a cap on FSA tuition funds used by families with children with special needs; capital gains rate will be 23.8% and top dividend rate to 43.4%. I thought Obama said he was for no more taxes on the middle class???? Or was Obama hoping we would forget all these taxes until 2013 or 2014??????

    July 9, 2012 03:55 pm at 3:55 pm |
  14. Why is Obama still running Bush policies...

    Upon Obama's election in 2008; "HE" Obama should have adopted his own policies....this is what a real leader does...After almost four years in the White House...Obama is still in Bush's footsteps.....this calls for a real change....!

    July 9, 2012 04:00 pm at 4:00 pm |
  15. mikle

    Thanks, Obama. One more your change. Poll: 56% American people say your change the worse ever, only 32% say for better.

    July 9, 2012 04:03 pm at 4:03 pm |
  16. Rudy NYC

    Dave

    Another broken Obama promise
    -----------------
    And, the broken promise is what? He promised to end the Bush Tax Cuts? So you're complaining about your taxes not gonig up? That's incredible to hear coming from a conservative. Truly remarkable. You're so against anything Pres. Obama says that you cannot even hear what it is that you are saying.

    Even if Pres. Obama did promise to get rid of the Bush Tax Cuts, that message began in Feb. 2007 when he announced his campaing for POTUS. He continued that message thoughout the Democratic primaries. Then...suddenly...the Republicans drove the economy into a ditch. All bets were off. McCain wanted to suspend both campaigns. [for what? to keep Bush in office for another term?] Most campaign promises from both McCain and Obama could not be kept, not in a million years. Pres. Obama figured that he would have a near healthy economy during the campaigns, not one that needed life support.

    July 9, 2012 04:04 pm at 4:04 pm |
  17. Ray E. (Georgia)

    Wow,
    It do get confusing don't it. The "Managers" of Obama must be working overtime to come up with the next pile of "s*it to foist on the public. Socalisim failed in the Old Soviet Union but our esteemed leaders keep trying it. @010 was supposed to be the "Summer of Recovery". Obama is still Spewing "Tax the Rich" But there are no rich anymore.

    July 9, 2012 04:06 pm at 4:06 pm |
  18. chuck weidemann

    @ myviewis .....George Bush was like a broken clock....right about twice a day.....his tax cuts reflect this in they were partly right. The cuts for those with the most who give the least is where he went haywire.....Remember Bush also made fun of global warming,so have many republicans....those voices are real quiet now days....Hottest days ever in the Midwest . So as a democrat I don't " hate" Bush I just think he wasn't to bright!!! Hate seems to spew from insecurity and a lack of knowledge not typical traits from democratic leaning individuals.....

    July 9, 2012 04:08 pm at 4:08 pm |
  19. Mikey

    @Myviewis – "All Democrats hate Bush yet the tax cuts they are enjoying come from Bush, afterall they are called the Bush Tax Cuts. Now middle class Democrats get to enjoy for 1 more year of Bush-era tax cuts for people earning less than $250k a year. I think middle class Democrats should refuse this 1 year extension since they hate Bush..."
    ***********************************************************************
    Okay, I admit it, after reading your post, I do believe there are people out there who are much bigger morons than Bush. You have proved it. Congratulations.

    July 9, 2012 04:08 pm at 4:08 pm |
  20. Claudia, Houston, Tx

    @Myviews
    GWB recently stated he wished he had never passed the Bush tax cuts. In my view that does make him a moron.

    July 9, 2012 04:09 pm at 4:09 pm |
  21. BeverlyNC

    Republicans need to pay attention to the lies you are being told about Obamacare. NO ONE is taxes except the people who can afford to buy healthcare insurance and refuse to do so. They are hit with a penalty for having no insurance but that part does not even start to take effect until 2014. It affects less than .05% of the population and it is NOT a general tax on the middle class or anyone else. It is a penalty for refusing to take responsibility for having healthcare insurance. The poor have Medicaid. The elderly have Medicare. Most of us have healthcare through work. The best part is private health insurance companies will now be competing for our business – and premiums will go down. Also with everyone insured, the costs go down because we do not all pay for the freeloaders. If a Republican tells you something – better go find the facts because they never tell the truth. It's against their character.

    July 9, 2012 04:13 pm at 4:13 pm |
  22. BARACK HUSSEIN OBAMA has a FAILURE PROBLEM

    Liberals believe the way out of a recession is for government to fulfill its' roles as the "employer of last resort", the "lender of last resort", and the "consumer of last resort".
    ======================================================================================
    Silly me.... here I thought government was there to govern, provide basic government services, defend the country. I never realized they were there to lend, employee and consume in order to prop up lending, employment and consumption. Shouldn't all this be driven by the free market? Government intervention only creates a false lending, employment and consumption level at a time that the free market NEEDS to reset to a realistic and sustainable level. The government cannot and should not try to intervene in and manipulate the free markets to shield the country from reality.

    The free market system is designed to recover on its own. It is not and should not be the role of government to shield all of us from every economic bump in the road of life.

    July 9, 2012 04:13 pm at 4:13 pm |
  23. Tony from Oakland California

    Not matter who enjoys Coporate tax cuts or doesn't. Only Democrats are on record as having voted against those cuts for people making over $250k per year. Dick Cheney cast the tie breaking 51st vote by Reconciliation in 2001. Therefore, Republicans "own" the economic results of what happened thereafter. It's as simple as that. I'm tired of all the "spin". Bush didn't pass any tax cuts for folks making under $250k per year....period. It's fact, and not fiction. Republicans were against middle class tax cuts just 8 months ago while insisting on continuing those Copoaret tax cuts. It isn't complicated. It's really simple to figure out who is on who's side.......unless you're stupid.......

    July 9, 2012 04:17 pm at 4:17 pm |
  24. BARACK HUSSEIN OBAMA has a FAILURE PROBLEM

    Why is Obama still running Bush policies...
    Upon Obama's election in 2008; "HE" Obama should have adopted his own policies....this is what a real leader does...After almost four years in the White House...Obama is still in Bush's footsteps.....this calls for a real change....!
    ============================================================================================
    Not only did Obama keep a lot of the George Bush policies (all while blaming Bush for everything under the sun), he let Pelosi and Reid lead him arounbd by the nose for two years. NOTHING Obama passed was HIS idea. Obama is truly an empty suit of a "leader from behind". Pull the string behind his head and listen to him spew the same old tired class warfare speech, over and over and over. Another 4 years of this insanity? No thanks. Both the country and I can't afford it. Eight years of failure is far too much failure and would amount to a lost decade for this country and its people.

    July 9, 2012 04:20 pm at 4:20 pm |
  25. California

    Only complete idiots would vote for Hussein and Biden A SECOND TIME.

    July 9, 2012 04:20 pm at 4:20 pm |
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