euromike69 Posted July 31, 2017 Share Posted July 31, 2017 What Really Happened to Your Taxes While Obama Was President Ian Salisbury Jan 19, 2017 With Donald Trump and the Republicans set to take the reins of government, Washington's economic priorities are clear: Expect big tax cuts, especially for business owners and wealthy investors, in the name of invigorating economic growth. That's going to be a big contrast with President Obama and the Democrats, who put bigger emphasis on using tax policy to correct a wealth distribution they consider unfair. But claims that Obama dramatically raised taxes -- as was frequentlycharged by his opponents -- were exaggerations designed to rile up the Republican base. While Obama did raise some taxes, mostly to pay for Obamacare, there was no major tax overhaul of the kind Trump and Republicans hope to accomplish. In fact, in 2013 Obama signed a compromise bill making permanent the tax cuts enacted by his Republican predecessor, George W. Bush. As of 2013, the Tax Policy Center found that, under Obama, the top 1% of earners paid an effective federal tax rate of roughly 32%, compared to about 27% under Bush. But middle earners paid roughly 12%, almost exactly the same as under the previous president, while low earners paid a bit less -- about 2.3%, rather than 3.5%. The tax changes under Obama basically fell into two buckets: Obamacare tax increases, and tax cut extensions. Obamacare Tax Impact What new taxes did take effect over the last eight years were largely related to the 2010 Affordable Care Act, designed to be 44th president's signature achievement. The ambitious goal of providing health care for all Americans required a slew of new taxes, both to help pay for new insurance subsidies and as prods for healthier behavior. When the right-leaning Americans for Tax Reform published "A Full List of Obama Tax Hikes," 19 of the 20 items were explicitly tied to Obamacare. (The remaining item -- a hike in excise taxes on tobacco -- was tied to health policy.) The largest of the new taxes, which was projected to raise $123 billion over a decade, was a 2.3% surtax on investment income -- capital gains and dividends -- owed by households making at least $250,000 or individuals earning $200,000. Other big-ticket items include a 0.9% increase in the Medicare payroll tax on the same group of high earners (forecast to raise $86 billion over 10 years) and the much-derided Obamcare individual mandate -- a new $695 to $2,085 penalty owed by anyone who doesn't buy a health plan (forecast to to raise $65 billion, in conjunction with similar employer penalties). Both the Obamacare mandate and the tobacco excise tax have been singled out as hitting the middle class. This is technically true, but not the whole story, since both are designed around shaping behavior, rather than raising revenue. While the fate of Obamacare itself remains unclear, early research suggests the tobacco tax has been at least partly successful at reducing use. Bush Tax Cuts Preserved Outside of health care, meanwhile, Obama's tax legacy is largely one of preserving George W. Bush's lower rates, at least for the middle class. The American Taxpayer Relief Act, which Obama signed into law as part of a "fiscal cliff" budget deal in January 2013, made roughly $2.8 trillion of Bush's expiring $3.4 trillion tax cuts permanent, according the the left-leaning Center on Budget and Policy Priorities. The law preserved lower, Bush-era income-tax brackets, with a top rate of 35% for taxpayers earning less than $400,000 and couples earning less than $450,000. The deal also made permanent the $1,000 child tax credit, up from $500, and the elimination of the so-called "marriage penalty" by allowing couples to take a standard deduction that was twice the size of the one available for singles. Meanwhile the estate tax -- a favorite of liberals and a longtime target of conservatives -- was pegged at 40%, with estates of less than about $5 million exempt. (Without the legislative fix that Obama signed, the top estate tax rate had been set to rise to 55%, and kick in on estates worth more than $1 million.) While the law didn't receive universal Republican support, it grabbed votes from the Republicans likely to serve as key players in any upcoming Trump administration tax reform, including current House speaker Paul Ryan and current Ways and Means Chairmen Kevin Brady. “After more than a decade of criticizing these tax cuts,” said then House Ways and Means Chairman, Dave Camp in 2013, “Democrats are finally joining Republicans in making them permanent. Republicans and the American people are getting something really important, permanent tax relief.” Link to comment Share on other sites More sharing options...
With Donald Trump and the Republicans set to take the reins of government, Washington's economic priorities are clear: Expect big tax cuts, especially for business owners and wealthy investors, in the name of invigorating economic growth. That's going to be a big contrast with President Obama and the Democrats, who put bigger emphasis on using tax policy to correct a wealth distribution they consider unfair. But claims that Obama dramatically raised taxes -- as was frequentlycharged by his opponents -- were exaggerations designed to rile up the Republican base. While Obama did raise some taxes, mostly to pay for Obamacare, there was no major tax overhaul of the kind Trump and Republicans hope to accomplish. In fact, in 2013 Obama signed a compromise bill making permanent the tax cuts enacted by his Republican predecessor, George W. Bush. As of 2013, the Tax Policy Center found that, under Obama, the top 1% of earners paid an effective federal tax rate of roughly 32%, compared to about 27% under Bush. But middle earners paid roughly 12%, almost exactly the same as under the previous president, while low earners paid a bit less -- about 2.3%, rather than 3.5%. The tax changes under Obama basically fell into two buckets: Obamacare tax increases, and tax cut extensions. Obamacare Tax Impact What new taxes did take effect over the last eight years were largely related to the 2010 Affordable Care Act, designed to be 44th president's signature achievement. The ambitious goal of providing health care for all Americans required a slew of new taxes, both to help pay for new insurance subsidies and as prods for healthier behavior. When the right-leaning Americans for Tax Reform published "A Full List of Obama Tax Hikes," 19 of the 20 items were explicitly tied to Obamacare. (The remaining item -- a hike in excise taxes on tobacco -- was tied to health policy.) The largest of the new taxes, which was projected to raise $123 billion over a decade, was a 2.3% surtax on investment income -- capital gains and dividends -- owed by households making at least $250,000 or individuals earning $200,000. Other big-ticket items include a 0.9% increase in the Medicare payroll tax on the same group of high earners (forecast to raise $86 billion over 10 years) and the much-derided Obamcare individual mandate -- a new $695 to $2,085 penalty owed by anyone who doesn't buy a health plan (forecast to to raise $65 billion, in conjunction with similar employer penalties). Both the Obamacare mandate and the tobacco excise tax have been singled out as hitting the middle class. This is technically true, but not the whole story, since both are designed around shaping behavior, rather than raising revenue. While the fate of Obamacare itself remains unclear, early research suggests the tobacco tax has been at least partly successful at reducing use. Bush Tax Cuts Preserved Outside of health care, meanwhile, Obama's tax legacy is largely one of preserving George W. Bush's lower rates, at least for the middle class. The American Taxpayer Relief Act, which Obama signed into law as part of a "fiscal cliff" budget deal in January 2013, made roughly $2.8 trillion of Bush's expiring $3.4 trillion tax cuts permanent, according the the left-leaning Center on Budget and Policy Priorities. The law preserved lower, Bush-era income-tax brackets, with a top rate of 35% for taxpayers earning less than $400,000 and couples earning less than $450,000. The deal also made permanent the $1,000 child tax credit, up from $500, and the elimination of the so-called "marriage penalty" by allowing couples to take a standard deduction that was twice the size of the one available for singles. Meanwhile the estate tax -- a favorite of liberals and a longtime target of conservatives -- was pegged at 40%, with estates of less than about $5 million exempt. (Without the legislative fix that Obama signed, the top estate tax rate had been set to rise to 55%, and kick in on estates worth more than $1 million.) While the law didn't receive universal Republican support, it grabbed votes from the Republicans likely to serve as key players in any upcoming Trump administration tax reform, including current House speaker Paul Ryan and current Ways and Means Chairmen Kevin Brady. “After more than a decade of criticizing these tax cuts,” said then House Ways and Means Chairman, Dave Camp in 2013, “Democrats are finally joining Republicans in making them permanent. Republicans and the American people are getting something really important, permanent tax relief.”
Thestarider Posted July 31, 2017 Share Posted July 31, 2017 14 minutes ago, euromike69 said: What Really Happened to Your Taxes While Obama Was President Ian Salisbury Jan 19, 2017 With Donald Trump and the Republicans set to take the reins of government, Washington's economic priorities are clear: Expect big tax cuts, especially for business owners and wealthy investors, in the name of invigorating economic growth. That's going to be a big contrast with President Obama and the Democrats, who put bigger emphasis on using tax policy to correct a wealth distribution they consider unfair. But claims that Obama dramatically raised taxes -- as was frequentlycharged by his opponents -- were exaggerations designed to rile up the Republican base. While Obama did raise some taxes, mostly to pay for Obamacare, there was no major tax overhaul of the kind Trump and Republicans hope to accomplish. In fact, in 2013 Obama signed a compromise bill making permanent the tax cuts enacted by his Republican predecessor, George W. Bush. As of 2013, the Tax Policy Center found that, under Obama, the top 1% of earners paid an effective federal tax rate of roughly 32%, compared to about 27% under Bush. But middle earners paid roughly 12%, almost exactly the same as under the previous president, while low earners paid a bit less -- about 2.3%, rather than 3.5%. The tax changes under Obama basically fell into two buckets: Obamacare tax increases, and tax cut extensions. Obamacare Tax Impact What new taxes did take effect over the last eight years were largely related to the 2010 Affordable Care Act, designed to be 44th president's signature achievement. The ambitious goal of providing health care for all Americans required a slew of new taxes, both to help pay for new insurance subsidies and as prods for healthier behavior. When the right-leaning Americans for Tax Reform published "A Full List of Obama Tax Hikes," 19 of the 20 items were explicitly tied to Obamacare. (The remaining item -- a hike in excise taxes on tobacco -- was tied to health policy.) The largest of the new taxes, which was projected to raise $123 billion over a decade, was a 2.3% surtax on investment income -- capital gains and dividends -- owed by households making at least $250,000 or individuals earning $200,000. Other big-ticket items include a 0.9% increase in the Medicare payroll tax on the same group of high earners (forecast to raise $86 billion over 10 years) and the much-derided Obamcare individual mandate -- a new $695 to $2,085 penalty owed by anyone who doesn't buy a health plan (forecast to to raise $65 billion, in conjunction with similar employer penalties). Both the Obamacare mandate and the tobacco excise tax have been singled out as hitting the middle class. This is technically true, but not the whole story, since both are designed around shaping behavior, rather than raising revenue. While the fate of Obamacare itself remains unclear, early research suggests the tobacco tax has been at least partly successful at reducing use. Bush Tax Cuts Preserved Outside of health care, meanwhile, Obama's tax legacy is largely one of preserving George W. Bush's lower rates, at least for the middle class. The American Taxpayer Relief Act, which Obama signed into law as part of a "fiscal cliff" budget deal in January 2013, made roughly $2.8 trillion of Bush's expiring $3.4 trillion tax cuts permanent, according the the left-leaning Center on Budget and Policy Priorities. The law preserved lower, Bush-era income-tax brackets, with a top rate of 35% for taxpayers earning less than $400,000 and couples earning less than $450,000. The deal also made permanent the $1,000 child tax credit, up from $500, and the elimination of the so-called "marriage penalty" by allowing couples to take a standard deduction that was twice the size of the one available for singles. Meanwhile the estate tax -- a favorite of liberals and a longtime target of conservatives -- was pegged at 40%, with estates of less than about $5 million exempt. (Without the legislative fix that Obama signed, the top estate tax rate had been set to rise to 55%, and kick in on estates worth more than $1 million.) While the law didn't receive universal Republican support, it grabbed votes from the Republicans likely to serve as key players in any upcoming Trump administration tax reform, including current House speaker Paul Ryan and current Ways and Means Chairmen Kevin Brady. “After more than a decade of criticizing these tax cuts,” said then House Ways and Means Chairman, Dave Camp in 2013, “Democrats are finally joining Republicans in making them permanent. Republicans and the American people are getting something really important, permanent tax relief.” You seem to have forgot about the capitol gains and dividends tax increase that all middle class people invest in their retirements Mikey, Or do you not invest in your retirement ? Oh maybe not because you are young to worry about that shit right ? What about the raise in the death tax from 40 to 60 percent, I guess you should pay over half of your mothers estate in taxes when she has already paid taxes on her wealth. I suppose you support that tax as well. This something I have dealt with first hand, and is nothing more than the typical dems double taxation, should be the same as capitol gains tax !!! And here is another typical Democratic double taxation proposal: Under the tax increases contained in Obama's recent budget proposals, a married couple making $232,000 a year would be in a higher tax bracket than many unmarried couples making $370,000 a year. Simply by getting married, a man and woman making $170,000 each would be pushed up from their current level of 28 percent to 36 percent. But an unmarried couple making $340,000 a year ($170,000 each) would be taxed at 28 percent. And a married couple making $380,000 would be taxed at 39.6 percent -- not counting certain adjustments that bring the rate to 40.7 percent. (That's just the federal standard rate. You have to add to that state income taxes (up to 10.3 percent), and federal self-employment taxes, which many small business owners pay -- which could result in marginal rates of well over 60 percent). But he never raised taxes on the middle class, Like I said I am calling BULLSHIT... the middle class was hit the hardest of all as usual with the dems !!!! so all LLC's and S corporations most likely fall into this taxation that is directed at the middle class...ROFLMAO Link to comment Share on other sites More sharing options...
With Donald Trump and the Republicans set to take the reins of government, Washington's economic priorities are clear: Expect big tax cuts, especially for business owners and wealthy investors, in the name of invigorating economic growth. That's going to be a big contrast with President Obama and the Democrats, who put bigger emphasis on using tax policy to correct a wealth distribution they consider unfair. But claims that Obama dramatically raised taxes -- as was frequentlycharged by his opponents -- were exaggerations designed to rile up the Republican base. While Obama did raise some taxes, mostly to pay for Obamacare, there was no major tax overhaul of the kind Trump and Republicans hope to accomplish. In fact, in 2013 Obama signed a compromise bill making permanent the tax cuts enacted by his Republican predecessor, George W. Bush. As of 2013, the Tax Policy Center found that, under Obama, the top 1% of earners paid an effective federal tax rate of roughly 32%, compared to about 27% under Bush. But middle earners paid roughly 12%, almost exactly the same as under the previous president, while low earners paid a bit less -- about 2.3%, rather than 3.5%. The tax changes under Obama basically fell into two buckets: Obamacare tax increases, and tax cut extensions. Obamacare Tax Impact What new taxes did take effect over the last eight years were largely related to the 2010 Affordable Care Act, designed to be 44th president's signature achievement. The ambitious goal of providing health care for all Americans required a slew of new taxes, both to help pay for new insurance subsidies and as prods for healthier behavior. When the right-leaning Americans for Tax Reform published "A Full List of Obama Tax Hikes," 19 of the 20 items were explicitly tied to Obamacare. (The remaining item -- a hike in excise taxes on tobacco -- was tied to health policy.) The largest of the new taxes, which was projected to raise $123 billion over a decade, was a 2.3% surtax on investment income -- capital gains and dividends -- owed by households making at least $250,000 or individuals earning $200,000. Other big-ticket items include a 0.9% increase in the Medicare payroll tax on the same group of high earners (forecast to raise $86 billion over 10 years) and the much-derided Obamcare individual mandate -- a new $695 to $2,085 penalty owed by anyone who doesn't buy a health plan (forecast to to raise $65 billion, in conjunction with similar employer penalties). Both the Obamacare mandate and the tobacco excise tax have been singled out as hitting the middle class. This is technically true, but not the whole story, since both are designed around shaping behavior, rather than raising revenue. While the fate of Obamacare itself remains unclear, early research suggests the tobacco tax has been at least partly successful at reducing use. Bush Tax Cuts Preserved Outside of health care, meanwhile, Obama's tax legacy is largely one of preserving George W. Bush's lower rates, at least for the middle class. The American Taxpayer Relief Act, which Obama signed into law as part of a "fiscal cliff" budget deal in January 2013, made roughly $2.8 trillion of Bush's expiring $3.4 trillion tax cuts permanent, according the the left-leaning Center on Budget and Policy Priorities. The law preserved lower, Bush-era income-tax brackets, with a top rate of 35% for taxpayers earning less than $400,000 and couples earning less than $450,000. The deal also made permanent the $1,000 child tax credit, up from $500, and the elimination of the so-called "marriage penalty" by allowing couples to take a standard deduction that was twice the size of the one available for singles. Meanwhile the estate tax -- a favorite of liberals and a longtime target of conservatives -- was pegged at 40%, with estates of less than about $5 million exempt. (Without the legislative fix that Obama signed, the top estate tax rate had been set to rise to 55%, and kick in on estates worth more than $1 million.) While the law didn't receive universal Republican support, it grabbed votes from the Republicans likely to serve as key players in any upcoming Trump administration tax reform, including current House speaker Paul Ryan and current Ways and Means Chairmen Kevin Brady. “After more than a decade of criticizing these tax cuts,” said then House Ways and Means Chairman, Dave Camp in 2013, “Democrats are finally joining Republicans in making them permanent. Republicans and the American people are getting something really important, permanent tax relief.”
Foamy T. Squirrel Posted July 31, 2017 Share Posted July 31, 2017 Report post (IP: 2601:404:c500:85f0:5191:b50b:74cd:9370) Posted 5 minutes ago What Really Happened to My Taxes While Obama Was President ---------------------------------------------- The medical premiums for my very successful business nearly tripled. This erased any possibility for me to expand my business by updating equipment or to hire new employees without facing great personal risk. The State where I operated increased fees. In the case of the State, if I did not pay them and have all my paperwork in order, I faced fines of $10,000 to $15,000 for infractions. If I did not have a medical insurance policy, I faced fines and/or imprisonment. I spent a good solid 5 days of each month filling out government forms, writing endless checks for continual increases in FICA, Social Security, sales taxes, AQMD fees, etc. I gave up, with the consolation that I could keep my paid-off house if I played my cards correctly. I have changed my doctor (that I liked) and my policies and providers (that I liked) 5 times during the Obama administration. This is not liberty. This isn't either: http://usdebtclock.org/ 1 Link to comment Share on other sites More sharing options...
euromike69 Posted July 31, 2017 Share Posted July 31, 2017 I would continue but my girl said to get the fuck off the computer,, and come to eat her,,, opps I mean come eat dinner I think you are getting the term middle class mixed up,,,,,are you that rich that you don't know who the middle class people are,,,and who's taxes are being raised? My Mom is 55 yrs old and my dad is 57,,so retirement is not on my radar,,,or have I ever heard them talk or complain about capital gains tax 5 minutes ago, Thestarider said: You seem to have forgot about the capitol gains and dividends tax increase that all middle class people invest in their retirements Mikey, Or do you not invest in your retirement ? Oh maybe not because you are young to worry about that shit right ? What about the raise in the death tax from 40 to 60 percent, I guess you should pay over half of your mothers estate in taxes when she has already paid taxes on her wealth. I suppose you support that tax as well. This something I have dealt with first hand, and is nothing more than the typical dems double taxation, should be the same as capitol gains tax !!! And here is another typical Democratic double taxation proposal: Under the tax increases contained in Obama's recent budget proposals, a married couple making $232,000 a year would be in a higher tax bracket than many unmarried couples making $370,000 a year. Simply by getting married, a man and woman making $170,000 each would be pushed up from their current level of 28 percent to 36 percent. But an unmarried couple making $340,000 a year ($170,000 each) would be taxed at 28 percent. And a married couple making $380,000 would be taxed at 39.6 percent -- not counting certain adjustments that bring the rate to 40.7 percent. (That's just the federal standard rate. You have to add to that state income taxes (up to 10.3 percent), and federal self-employment taxes, which many small business owners pay -- which could result in marginal rates of well over 60 percent). But he never raised taxes on the middle class, Like I said I am calling BULLSHIT... the middle class was hit the hardest of all as usual with the dems !!!! so all LLC's and S corporations most likely fall into this taxation that is directed at the middle class...ROFLMAO Link to comment Share on other sites More sharing options...
euromike69 Posted July 31, 2017 Share Posted July 31, 2017 2 minutes ago, Foamy T. Squirrel said: Report post (IP: 2601:404:c500:85f0:5191:b50b:74cd:9370) Posted 5 minutes ago What Really Happened to My Taxes While Obama Was President ---------------------------------------------- The medical premiums for my very successful business nearly tripled. This erased any possibility for me to expand my business by updating equipment or to hire new employees without facing great personal risk. The State where I operated increased fees. In the case of the State, if I did not pay them and have all my paperwork in order, I faced fines of $10,000 to $15,000 for infractions. If I did not have a medical insurance policy, I faced fines and/or imprisonment. I spent a good solid 5 days of each month filling out government forms, writing endless checks for continual increases in FICA, Social Security, sales taxes, AQMD fees, etc. I gave up, with the consolation that I could keep my paid-off house if I played my cards correctly. I have changed my doctor (that I liked) and my policies and providers (that I liked) 5 times during the Obama administration. This is not liberty. This isn't either: http://usdebtclock.org/ Link to comment Share on other sites More sharing options...
Foamy T. Squirrel Posted July 31, 2017 Share Posted July 31, 2017 Just wait 'til they go to sell their house. Just wait to see what happens when they need to cash in their IRAs or 401Ks. 1 Link to comment Share on other sites More sharing options...
Thestarider Posted August 1, 2017 Share Posted August 1, 2017 Mikey I am couple years older than your parents, and I am middle class, I have owned several business's , and have several rental properties. I drink and like to smoke a damn good cigar once in while....S corps and LLC income is added to your income as an individual and you pay taxes on that amount, so, if you are successful in your small business, then your personal income reflects that. and you are taxed on that money as if it was income even though you don't take an equity draw, or pay yourself a salary, in the attempts to grow your business. And you put people to work and help them become a productive part of our society and for the most part are penalized tax wise for that effort. Link to comment Share on other sites More sharing options...
euromike69 Posted August 1, 2017 Share Posted August 1, 2017 Ok,,, Well if it affects both of you it sucks,,,, It doesn't affect me or any other person that I know of that owns business,,, all my friends are business owners, and I don't hear from them the kinds of things I'm hearing from both of you,,,, maybe they are either happy with what's going on or just don't want to share,,but I'm only going on my experience and what I see on a daily basis. There are thousands of Business owners out there that don't see it affecting their businesses like it's affecting yours like you are saying here. Well goodnight Guys,, I'm out of here,,,,,,, for now 3 minutes ago, Thestarider said: Mikey I am couple years older than your parents, and I am middle class, I have owned several business's , and have several rental properties. I drink and like to smoke a damn good cigar once in while....S corps and LLC income is added to your income as an individual and you pay taxes on that amount, so, if you are successful in your small business, then your personal income reflects that. and you are taxed on that money as if it was income even though you don't take an equity draw, or pay yourself a salary, in the attempts to grow your business. And you put people to work and help them become a productive part of our society and for the most part are penalized tax wise for that effort. 8 minutes ago, Foamy T. Squirrel said: Just wait 'til they go to sell their house. Just wait to see what happens when they need to cash in their IRAs or 401Ks. Link to comment Share on other sites More sharing options...
eagleb1 Posted August 1, 2017 Author Share Posted August 1, 2017 2 hours ago, Thestarider said: Eagle don't make me laugh, I guess he could steel from the American people a couple trillion like Obama did to bail out the banks and auto industry, those were his only accomplishments in the his six months with a democratic congress, He would not address the failure that is the ACA, nor would address the TAX reform except to tax the fuck out of the middle class, nor would he even try to get infrastructure addressed... So, you would have let the American auto industry fail? The banks had gotten "too big to fail" (You've heard of that ?) because of a LACK of regulation. Can you imagine the chaos and cost to the economy if the big banks had failed? The ACA is not failing except on Fox News. It can and should be improved but the Republicans have so poisoned the debate with scare tactics like Death Panels that they can't step back from using it to get elected. The fact is that despite seven years of phony bitching about it, they don't have a single idea of what would be better. I'm quite a bit above middle class and I wasn't affected by the major tax increase which was to let the Bush tax cut expire for couples making over $400,000. And, when I wasn't looking, Obama must have vetoed all those infrastructure bills passed by the Republican congress. NOT. Link to comment Share on other sites More sharing options...
eagleb1 Posted August 1, 2017 Author Share Posted August 1, 2017 1 hour ago, Foamy T. Squirrel said: Just wait 'til they go to sell their house. Just wait to see what happens when they need to cash in their IRAs or 401Ks. You mean couples who have capital gains over $500,000 on their home? BooHoo You mean they will have to pay the tax that they have been able to defer until retirement at rates that are probably lower than they were when they first earned that money? Link to comment Share on other sites More sharing options...
Thestarider Posted August 1, 2017 Share Posted August 1, 2017 3 hours ago, eagleb1 said: So, you would have let the American auto industry fail? YES My trucking company didn't get a bail out when diesel went to $4.00 a gallon The banks had gotten "too big to fail" (You've heard of that ?) because of a LACK of regulation. Can you imagine the chaos and cost to the economy if the big banks had failed? YES, had nothing to do with lack of regulation, the banking industry today has far less regulation than when it failed, over regulation caused millions of small business's to fail from lack of capitol. Yes from failure comes success for those who learn from their mistakes ! The ACA is not failing except on Fox News. It can and should be improved but the Republicans have so poisoned the debate with scare tactics like Death Panels that they can't step back from using it to get elected. The fact is that despite seven years of phony bitching about it, they don't have a single idea of what would be better. BULLSHIT ask my mother and see what she says, a 60 year democrat who voted republican and will continue to vote republican. Let me see, lets vote this bill into law, then we can read it and find out what is in it .....ROFLMAO I'm quite a bit above middle class and I wasn't affected by the major tax increase which was to let the Bush tax cut expire for couples making over $400,000. Of course you weren't and good for you why don't you give 50 to 60 percent of your income and wealth to the poor, or socialist programs ? And, when I wasn't looking, Obama must have vetoed all those infrastructure bills passed by the Republican congress. NOT. NO he didn't even try, because he was to busy bowing to the Muslim leaders around the world and making America weak in the eyes of most all nations, re-building Iran and giving away my hard earned tax dollars, and being stupid with the American taxpayer money. 10 trillion in national debt in just 8 years, What is even worse, I voted for him and his hope and change bullshit, what I received was getting screwed up the ass without a jar of Vaseline for that vote. Never again that is sure. Obama bailed out the big wall street supported business and banks and the American people bailed out the democratic lead government, while under his watch the only time I can remember America had it's bond rating lowered. HOPE and CHANGE "NOT" once again I am not alone as the majority of the country feels just like I do Eagle Link to comment Share on other sites More sharing options...
Thestarider Posted August 1, 2017 Share Posted August 1, 2017 It is true that there are likely some $1 trillion in new taxes that resulted from passage of the ACA. So says a CBO report provided to Speaker Paul Ryan last year and done in the context of determining how much less in taxes would be required of Americans if Obamacare were to be revoked. The total tax collections expected to result from the increased taxes on investment income and payroll is about $320 billion over the first 10 years following passage of Obamacare Link to comment Share on other sites More sharing options...
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