Newsvine
  • Welcome
  • Help
  • Report Bug
  • Conversation Tracker
  • Your Column
  • Replies
  • Friends
Type Comments Since You Last CheckedArticle Source Last Checked Stop Tracking All Clear Tracking All
Advertise | AdChoices
Log In | Register
Close the Login Panel
Existing users log in below. New users please register for a free account.

New Users:

Existing Users:

E-Mail:
Password:
Forgot Password?
Please enter the e-mail address or domain name you registered with:
E-Mail/Domain:
Back to Login
Log Out
  • Top News
  • Local News
  • World
  • U.S.
  • Sports
  • Politics
  • Tech
  • Entertainment
  • Science
  • Business
  • Health
  • Odd News
  • More
    • Arts
    • Education
    • Environment
    • Fashion
    • History
    • Home & Garden
    • Not News
    • Religion
    • Travel
Visit PowerIsKnowledge's column >>

POWERISKNOWLEDGE

Home Page
Gashki'ewizi
Articles Posted: 150  Links Seeded: 1793
Member Since: 9/2008  Last Seen: 5/17/2012

What is Newsvine?

Updated continuously by citizens like you, Newsvine is an instant reflection of what the world is talking about at any given moment.

Get a Free Account
Help
Fun Stuff
  • Your Clippings
  • Leaderboard
  • E-Mail Alerts
  • Top of the Vine
  • Newsvine Live
  • Newsvine Archives
  • The Greenhouse
  • Recommended Articles
  • Wall of Vineness
Put a Seed Newsvine link on your own site

Obama's tax plan: Extra change or lighter wallets?

Seeded on Sun Mar 1, 2009 8:22 AM EST
Read ArticleArticle Source: TheHill.com
politics, obama, congress, taxes, healthcare, mortgage, rich, tax-breaks, deductions, charitable, blue-collar, tax-policy-center
Seeded by PowerIsKnowledge
Advertise | AdChoices

There will be winners and losers if President Obama's tax plan is approved by Congress, and the more you make, the bigger a loser you'll be.

Obama's broad proposal is to pay for healthcare reform and blue-collar tax breaks by raising taxes on wealthier families and individuals. The Tax Policy Center estimates the increased taxes on the rich would raise roughly $1 trillion over the next decade.

The rich are defined as individuals making more than $200,000, and couples who earn more than $250,000. People above those income thresholds would pay a higher tax rate beginning in 2011, and would see deductions on mortgage interest payments and charitable contributions reduced sooner.

  • Enjoy this article? Help vote it up the 'Vine.

Published to:

  • PowerIsKnowledge's Column, All of Newsvine
  • Groups: none
  • Regions: Washington DC
  • Public Discussion (16)
PowerIsKnowledge

I'm interested in all opinions.

    Reply#1 - Sun Mar 1, 2009 8:23 AM EST
    JEN-357892

    When I heard President Obama speak to this issue, I thought he said that taxes would return to what they were before the Bush tax cuts and that he was going to go through the budget line by line to cut out what we did not need to make monies available for such areas as education, energy and health care. I also thought he said the money for the health care would be over a period of ten years. I do not see any quotes form the President in this article that supports what the article says, so I will read it as their interpretation and as such, compared to my on listening to the President, I will dismiss this article as an opinion an nothing more.

    We seem more caught up in predicting than producing. The predictions are usually negative and the producing(I mean being an active participant in the solution) seems not to be on many minds. We want it fixed but offer nothing but criticisms based on guesses of what may or MAY NOT happen. I just don't know what to make of it. It is very disappointing that we refuse to work together for the good of all. I doubt very few if any of the whiners are actually in the top 2%!

      #1.1 - Sun Mar 1, 2009 3:20 PM EST
      PowerIsKnowledge

      Jen, I can see you need more proof. Maybe this link will help you because it comments directly to the issue you're talking about Can Obama Remake America? It's a video so you'll have to fast forward to hear the information pertaining to your statement.

        #1.2 - Sun Mar 1, 2009 3:30 PM EST
        JEN-357892

        Actually, I watched this on Face the Nation. However, I listened again just because, I wanted to know what you heard that I did not. You will have to clarify what you thought I would learn. Please be specific so I will know to what you are referring.

        This President walked into a fiasco. I never expected all changes to take place overnight. So as I watch and see progress, some which has been far beyond what I expected at this point, I am pleased. I do not believe that negative predictions are beneficial to any of us. If anything, we should be working together to MAKE the plans work. Instead there seems to be a group that feels it is their goal to find all areas that they think are faulty and point them out. It is as if they do not see the US as all of us but they see President Obama as trying to ruin them. The irony for me is that they said nothing for eight years and now after being replaced, they have nothing but criticisms. No solutions then, no solutions now, but by golly we are suppose to find fault with the person making an effort and show he is wrong for trying! That disgusts me quite frankly. You either help or move out of the way.

        So if the reason you feel I need more proof is that you want me to see the earmarks exists, yeah I heard and I heard the response. It works for me. I don't expect them to ever go completely away because they seem to be interpreted differently based on who is asking for them. The President has implemented how many actions of his promise within about a month? I have no problems giving him breathing room to work on areas such as earmarks. I trust him. I will continue to trust him until I see for myself (verses the MSM) telling me he should not have my trust. What I will not do is create cases against him because politics is more important than our country uniting to recover.

          #1.3 - Sun Mar 1, 2009 4:34 PM EST
          PowerIsKnowledge

          Jen, my apology. I misunderstood you.

            #1.4 - Sun Mar 1, 2009 5:06 PM EST
            JEN-357892

            No worries, my friend. :-)

              #1.5 - Sun Mar 1, 2009 5:19 PM EST
              Reply
              LM-601014

              Charities are already hurting by cutting the deductions it will further hurt them. I think the mortgage interest is a non starter. People will buy houses even if their interest cannot be deducted.

              • 1 vote
              Reply#2 - Sun Mar 1, 2009 8:51 AM EST
              The Observer

              Houses will have less economic value if mortgage interest can not be deducted.

              • 1 vote
              #2.1 - Sun Mar 1, 2009 9:00 AM EST
              LM-601014

              true but they are seriously devalued now. I just think that mortgage interest is the least of the issues right now. I, thankfully, was able to sell my house but I took a bath on it. Home appreciation is a paper gain (at least untill it is time to sell)

                #2.2 - Sun Mar 1, 2009 9:50 AM EST
                Reply
                The Observer

                Doctors are RICH and we need to tax the hell out of them! Let's create disincentives for people to go into medicine and save lives.

                • 2 votes
                Reply#3 - Sun Mar 1, 2009 8:51 AM EST
                Evil 1

                Have a heart attack and see how your opinion changes. Individuals like you are why this country is heading towards ruin. Anyone who makes a success of themselves is your enemy. Whats the matter, can't get a government subsidizes job. Loser!

                  #3.1 - Sun Mar 1, 2009 9:41 AM EST
                  Kate-546578

                  Evil - Reread the second sentence.

                  • 2 votes
                  #3.2 - Sun Mar 1, 2009 9:46 AM EST
                  Studiusbagus

                  Doctors in themselves have the ability to become rich, my doctor id not rich...he's comfortable he just paid off his school loans, bought a decently nice home and rewarded himself by trading his 8 year old Honda and buying a sports car...I applaud his success and wish him more. When your insurance payments just to keep you out of court is equal to having 2 employees and paying all their benefits (roughly $100,000) that's a big chunk from being rich.

                  • 2 votes
                  #3.3 - Sun Mar 1, 2009 9:49 AM EST
                  The Observer

                  Thanks, Kate!

                  • 1 vote
                  #3.4 - Sun Mar 1, 2009 10:01 AM EST
                  The Observer

                  3.3

                  and doctors can find themselves bankrupt by the court system at any time.

                  • 2 votes
                  #3.5 - Sun Mar 1, 2009 10:02 AM EST
                  Reply
                  Kate-546578

                  My pleasure, Observer. As I noted on another thread, emotionalism is fast taking the place of reason to the extent that some seem to be incapable of understanding what they read.

                  • 2 votes
                  Reply#4 - Sun Mar 1, 2009 10:28 AM EST
                  Leave a Comment:
                  You're in Easy Mode. If you prefer, you can use XHTML Mode instead.
                  You're in XHTML Mode. If you prefer, you can use Easy Mode instead.
                  (XHTML tags allowed - a,b,blockquote,br,code,dd,dl,dt,del,em,h2,h3,h4,i,ins,li,ol,p,pre,q,strong,ul)
                  Newsvine Privacy Statement
                  As a new user, you may notice a few temporary content restrictions. Click here for more info.
                  FUN STUFF:
                  • Leaderboard |
                  • E-Mail Alerts |
                  • Top of the Vine |
                  • Newsvine Live |
                  • Newsvine Archives |
                  • The Greenhouse |
                  COMPANY STUFF:
                  • Code of Honor |
                  • Company Info |
                  • Contact Us |
                  • Jobs |
                  • User Agreement |
                  • Privacy Policy |
                  • About our ads
                  LEGAL STUFF:
                  • © 2005-2012 Newsvine, Inc. |
                  • Newsvine® is a registered trademark of Newsvine, Inc. |
                  • Newsvine is a property of msnbc.com