Obama’s Tax Gap is Over $250K…Pay Up!


if you want to "spread the wealth", pay your back taxes

image

Guess what…If Barack Obama’s tax hike had been in place since 2001, he would have paid over $250,000 more in income taxes than he actually did. This assumes that the 33% bracket stayed at 36%, and that the 35% bracket stayed at 39.6%.

Here’s the breakdown:

2001 – $420

2002 – $585

2003 – $910

2004 – $0

2005 – $60,257

2006 – $27,002

2007 – $161,555

Total Tax Gap – $250,727

Americans for Tax Reform today challenged Senator Barack Obama (D-Ill.) to put his money where his mouth is and pay up on his “tax gap.” Specifically, if Obama’s tax-increase policies had been in place since 2001, he would have paid $250,727.70 in additional income taxes.

This does not even count the additional Social Security payroll taxes he would have had to pay under his tax-increase plan, nor any interest or penalties!!!!

So…before Sen. Obama continues on his “spread the wealth” socialism tour, he may want to put his money where his mouth is. I say, either put up or shut up! If he is so convinced that repealing the tax cuts are good for the economy, why doesn’t the Senator pay what he would have owed if those cuts where not their in the first place.

Doesn’t sound like such a good idea anymore now does it?


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17 Comments Leave a comment

I am one of those who "just don't get it"

LizVBronx (Diary) Monday, October 27th at 11:26AM EST (link)

Why do 2 out of 3 Americans think the Messiah will do a good job on our economy?
What did he do in the Senate? Even his personal financial dealings have been shady.

I am just beside myself. No one cares except us.

 

Spreading wealth

spandrel Monday, October 27th at 11:46AM EST (link)

First, full disclosure. I’m a progressive who reads several conservative sites most days just to make sure my beliefs get challenged. I figure if readers here want their beliefs challenged, they’ll go look at some liberal sites, so I haven’t felt compelled to post anything contrarian.

However, I’d like someone to explain how the idea of progressive taxation is not conservative. It was first proposed by Adam Smith, in the Wealth of Nations (“It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.”), and has been seen as a sort of common sense approach to funding social goods (defense, lighthouses, whatever) ever since, on the grounds that the wealthiest benefit disproportionately from those social goods. I understand that lowering total tax rates and reducing government is a longstanding conservative priniciple, but is flat tax also one? Seems like Steve Forbes was the last proponent, and he didn’t get much traction with it.

Has something changed, and if so, what is the principled position against progressive taxation?

The issue isn't Progressive Taxation...

CSUFBomb (Diary) Monday, October 27th at 12:05PM EST (link)

…it’s Obama’s specific plan to redistribute tax revenue and give money to people who did not pay income taxes.

Ever since they threw JFK’s tax policy under the bus, liberals have been in favor of increasingly confiscatory progressive tax rates to grow the size of government and its dependency programs. However, Obama’s plan not only promises the usual carrot of bigger entitlement programs, it promises actual ca$h payments to citizens – not refunds, but handouts.


“We want great men who, when fortune frowns, will not be discouraged.” – Colonel Henry Knox

I have a small problem with your question.

Jim Tomasik (Diary) Monday, October 27th at 12:05PM EST (link)

Please define ‘progressive’ exactly. And who is to decide what is progressive and what it regressive? What are the degrees?

Lets get that out of the way first.

 
 
 

Bravo ATR

Brian Simpson (Diary) Monday, October 27th at 12:07PM EST (link)

I bet your challenge gets roundly ignored though.


| My RedState archive |
Important principles may and must be inflexible. ~ Abraham Lincoln

Ignorance Knows No Bounds

BohemianBill Monday, October 27th at 12:10PM EST (link)

If you do not understand the commonly accepted definitions of “progressive” versus “regressive” taxation, just how do you intend to intelligently discuss this issue? Just wondering.

Oh, this is going to be *funny*.

Moe Lane (Diary) Monday, October 27th at 12:11PM EST (link)

Never mind me; by all means, carry on.

 
 
 

Can this be generalized?

blogan (Diary) Monday, October 27th at 12:54PM EST (link)

Would it be possible to do to everyone? If you go to the average person and said: Look, if Obama had his way, you’d pay an additional $20,000 in the last eight years. Now, if you don’t have $20,000 in your non-emergency fund right now, thing about what you would’ve had to done differently in the last eight years to have it? Perhaps you didn’t move to that nicer house. Maybe you held on to that junker car for a few more years. Maybe you didn’t take that dream vacation. Perhaps you told your kids, “Sorry, you’ll have to pay for your own college.”

What stuff would you be willing to give up in the future for Obama?

True Obama supports will not mark their ballot on Election Day. Voting “Present” is how The One would like you to vote.

Issue

spandrel Monday, October 27th at 12:57PM EST (link)

Okay, I can understand the opposition to tax “refunds” that are greater than the tax liability. (Though I think Nixon was the last president to propose that, right?)

I guess I was confused because it doesn’t sound like that specific issue is the one being opposed. Or maybe it is, but that isn’t clear from any of the statements by McCain or the ads (which I see plenty of here in Virginia). Just saying.

(In response to another poster: I would define “progressive” tax rates as being any where the percent liability increases with income.)

Thanks.

well,

dogooder Monday, October 27th at 4:20PM EST (link)

The average person (95% of working families) will see a tax cut under Obama’s plan. So it’s only the rich kids (like Obama himself) that would’ve paid more.

The average person

TexasLiz Monday, October 27th at 7:58PM EST (link)

doesn’t make more than 250k.

The average person

TexasLiz Monday, October 27th at 8:00PM EST (link)

doesn’t make more than 250k.

The average person

TexasLiz Monday, October 27th at 8:00PM EST (link)

doesn’t make more than 250k.

 
 
 
 
 
 

this is always the case... Might get some Independents to open their eyes

JLenardDetroit (Diary) Monday, October 27th at 10:46PM EST (link)

Democrats whine and complain about the Tax cuts but then are more than happy to file their taxes and keep their savings.

Every time new Tax cuts are implemented it should be REQUIRED that both new and old forms be filled out and sent in – the taxpayer can then CHOOSE which one to use. They will (of course) choose the one that saves them money. This is the ONLY way to get the average moronic Demagogue (er.. Democrat) to actually see (and have to admit to themselves, at least at Tax time, before purposefully choosing denial). There might be some of those “Independents” that would then actually WAKE THE __ UP!

Regards from NoMoTown (the MOTORlessCITY)
“Liberals, looking to do for? America what they’ve done for? Detroit! which is DESTROY IT!”
“I think, therefore I am Conservative”
“Conservative by choice, Republican by necessity”
“You can lead a Liberal to the Truth/Facts, but you cannot make them THINK!”
“Romney [No, not my first choice] does NOT have a MORMON problem. He has a, far too many Americans; these days; are MORONS problem!”


(RS:Help) (JLD) (Hollyweird) (Brain-deads) (SPIN-cycle) (Obamaocare) (Party of kNOw) (Conservatism) (TEApeats) (respectful) (message) (Warning: Children Will Die!!)
Heil “O” Hell No Obamao is NOT MY PRESIDENT! “No U won’t”
I want “O” to FAIL (here, here, & whole Diary (Ofail) here, is why)
The first Liberal was Satan” – a Rush caller (other Quotes)

That's *exactly* the problem

itrytobenice (Diary) Tuesday, October 28th at 12:29AM EST (link)

We don’t like really steep progression. I, personally, want all Americans to have skin in the game when it comes to the efficient operation of the gov’t. I want them to all care because it is their money being spent. Even if it is only $10/month, they should have something in it.

But the idea that people should get a bonus check from other people (not charity, but obtained under threat of confinement) just because they don’t make as much money as some politician wants them to, makes my skin crawl and my blood pressure rise.

Proper grammar saves lives.

Let’s eat Grandma.
Let’s eat, Grandma.


Activists Taking Action: Unified Patriots

 
 

The Issue Is Not Progressive Tax Rates

ConservativeDC Tuesday, October 28th at 9:43AM EST (link)

The issue is whether Obama is willing to put his money where his mouth is. Consider:

  1. He says that the marginal tax rates on the top two brackets should never have come down. All this time, they should have remained 39.6% and 36%.

  2. If he’s saying that the rate cuts were wrong, then how can he justify keeping the money? Shouldn’t he have applied his “spread the wealth” principles and given the money to someone lower down the income ladder? Heck, I’ll take it.

Let’s keep our eye on the ball. Just like Democrats send their kids to private school while opposing vouchers for poor people, this is a case of rank, rank hypocrisy.

 

Obama's Fuzzy Math calculator, numbers that spin more like a roulette wheel and just as big a gamble

JLenardDetroit (Diary) Tuesday, October 28th at 6:33PM EST (link)

Obama’s campaign site now is trying to imply (read:spin) a new link/site TaxCutFacts.org as some impartial comparison of the two candidates differing Tax policies that they will enact if elected.

Go to the site to try the full calculator, but here is a limited function one:

What, of course, IT DOESN’T TELL YOU is how IT DISTORTS THE FACTS. In order for Obama’s Tax Cuts to “appear” better than McCain’s Tax plans it first takes into account the CANCELLATION OF THE BUSH CUTS and THEN REINSTITUTES THEM AS PART OF THE OBAMA PLAN (except, of course, those pesky breaks for the Rick folks, the top rate will be left back at 39%). McCain will KEEP the Bush cuts AND BUILDS UPON THEM! So when you do the calculation, you get McCains “additional” (ON TOP OF THE CURRENT BUSH TAX CUT SAVINGS) to compare to the distorted/phony Obama number. It compares Apples to prunes (and designed to give you the …. that the prunes would).

So, let me say it again straight-up without chance of misunderstanding. In the Obama calculator it shows any McCain Tax savings incorrectly because you will have the benefit of the additional amount you already currently enjoy with the Bush Cuts (Marriage penalty eliminated, personal exemptions increased, additional tax credits, etc…) You can and should add another $1,000 to the (displayed) McCain amount MINIMUM!

FIGHT THE DISTORTIONS of the ObamaBinBiden ticket, you must let your friends know of the manner in which they are attempting to deceive them in regard to the Tax Cut plans!

Regards from NoMoTown (the MOTORlessCITY)
“Liberals, looking to do for? America what they’ve done for? Detroit! which is DESTROY IT!”
“I think, therefore I am Conservative”
“Conservative by choice, Republican by necessity”
“You can lead a Liberal to the Truth/Facts, but you cannot make them THINK!”
“Romney [No, not my first choice] does NOT have a MORMON problem. He has a, far too many Americans; these days; are MORONS problem!”


(RS:Help) (JLD) (Hollyweird) (Brain-deads) (SPIN-cycle) (Obamaocare) (Party of kNOw) (Conservatism) (TEApeats) (respectful) (message) (Warning: Children Will Die!!)
Heil “O” Hell No Obamao is NOT MY PRESIDENT! “No U won’t”
I want “O” to FAIL (here, here, & whole Diary (Ofail) here, is why)
The first Liberal was Satan” – a Rush caller (other Quotes)