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The haggling to avert a fiscal cliff brings more movement, with President Obama offering to...

The haggling to avert a fiscal cliff brings more movement, with President Obama offering to limit tax increases to those earning over $400K - up from his long-held desire of $250K but well below John Boehner's proposal of $1M. The latter's aides say the offer represents "a step in the right direction" but is too heavy on the tax revenues and too light on the spending cuts.
Comments (12)
  • mitrado
    , contributor
    Comments (1987) | Send Message
     
    $1M ain't rich... That's millionaire. Let 'em pay. :-P
    18 Dec 2012, 04:22 AM Reply Like
  • Jdeboer87
    , contributor
    Comments (237) | Send Message
     
    They need to get these changes done and behind us.
    18 Dec 2012, 07:29 AM Reply Like
  • User 509088
    , contributor
    Comments (1083) | Send Message
     
    all you have to do is break down the various charges and apply them individually. say you have two homes and a cottage. that's three homes, each needing policing and fire, inspection and sewage and the other services.

     

    right off the bat, that's a triple tag for someone with three homes. it's that simple.

     

    same thing with a family with five cars, that's a five X ding on road replacement and that related skein of various infrastructures.

     

    plus, the well-off receive premium service- when they call the cops, the cops come. when they have stuff stolen, the cops look for it.

     

    that should be extra.
    18 Dec 2012, 06:54 AM Reply Like
  • tartuffe
    , contributor
    Comments (18) | Send Message
     
    I thought utility minimum bills whether you occupy the home year round or not, property taxes, annual vehicle property, registration, and fuel taxes covered the concept of the more you own the more you pay fairly adequately; no?
    18 Dec 2012, 07:52 AM Reply Like
  • kmi
    , contributor
    Comments (4031) | Send Message
     
    Hm.

     

    Pretty classic give and take, I'd say they'll probably both end up at 500k for the tax part...
    18 Dec 2012, 07:03 AM Reply Like
  • chopchop0
    , contributor
    Comments (3462) | Send Message
     
    This is all a dog and pony show. Spending cuts will need to be bigger piece of the pie and likely the real showdown
    18 Dec 2012, 07:18 AM Reply Like
  • mp0125
    , contributor
    Comments (16) | Send Message
     
    Whatever the final agreement is on the breakpoint for defining the income for tax increase, it should be indexed or it will become another AMT tax.
    18 Dec 2012, 07:09 AM Reply Like
  • make$work4u
    , contributor
    Comments (14) | Send Message
     
    They need to raise minimum wage $10.50hr all the pent up demand is at the bottom. Get the $ in their hands they spend to increase the demand that businesses want and thus they can hire people
    18 Dec 2012, 07:22 AM Reply Like
  • mp0125
    , contributor
    Comments (16) | Send Message
     
    Because some taxes are only a small portion of what is needed does not mean they should be ignored. (Taxes on those making over a certain amount) Many small portions of spending cuts, efficiency improvements, and increases in age for Social Security and Medicare would solve the problem. Robbing Medicare to pay for Affordable Health Care was improper.
    18 Dec 2012, 08:22 AM Reply Like
  • Financial Insights
    , contributor
    Comments (953) | Send Message
     
    I think that a lot of people do not realize that this is the marginal tax rate. These families/individuals will not be paying 39% on all of their money.
    18 Dec 2012, 09:19 AM Reply Like
  • Billy Ford
    , contributor
    Comments (152) | Send Message
     
    User 509088,

     

    Someone obviously needs to explain taxes to you. Everything you mentioned in your justification is covered under local property taxes. Those 3 homes that you mentioned all carry taxes based on assessed value paid to the local municipalities which cover the local needs of the community. BTW, most of these taxpayers fall in the AMT bracket, and will not get credit for the local taxes paid as an itemized deduction under the current AMT formula..The Taxes being discussed are FEDERAL taxes, which are a completely different ball game. This is a prime example of what is wrong with this scenario...being uneducated about the way things work.....IF you are going raise taxes to reduce the debt, then you have to have spending cuts or else spending gets outta control and we will have this discussion every few years until the govt is taking ALL our money
    18 Dec 2012, 10:34 AM Reply Like
  • DirkH
    , contributor
    Comments (85) | Send Message
     
    Billy, you are dead on in your response, which was based on facts rather than simply what someone wants. To bad facts are totally irrelevant in American politics.

     

    Liberals and Conservatives simply believe what they need to believe to support their already formed world opinions. To conservatives Reagan cut government. Iraq had W.M.D.s and was involved in 911. To liberals Reagan gutted the social safety net and 911 was caused by poverty. None of which is true but it supports people's already completely formed in a vacuum opinions.

     

    Keep fighting the good fight, but don't get your hopes up. Facts simply don't matter to 99% of people when it comes to politics.
    18 Dec 2012, 07:31 PM Reply Like
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