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ProSense

(116,464 posts)
Mon May 19, 2014, 10:45 AM May 2014

If Obama got his way...

Americans and the country would be better off. He's working on it.

BOOM: Obama signs order to raise minimum wage for federal contractors...disabled workers included!
http://www.democraticunderground.com/10024489919

The President knows this is important for workers, and good for the economy. That is why the President has already signed an executive order to raise the minimum wage and tipped minimum wage for federal contract workers and is calling on Congress to raise the national minimum wage from $7.25 to $10.10 per hour and index it to inflation thereafter, while also raising the tipped minimum wage for the first time in over 20 years. Increasing the minimum wage and the tipped minimum wage is especially important for women, who make up more than half of the workforce in jobs that pay the minimum wage and tipped occupations. Today, the White House is releasing a new report that lays out how women and the workforce would benefit if Congress passed legislation to raise the national minimum wage and tipped minimum wage for all Americans. Key findings from the report include:

NEW WHITE HOUSE REPORT: The Impact of Raising the Minimum Wage on Women and the Importance of Ensuring a Robust Tipped Minimum Wage
http://www.whitehouse.gov/the-press-office/2014/03/26/new-white-house-report-impact-raising-minimum-wage-women-and-importance-

How Obama's Reforms To Overtime Law Will Change People's Lives
http://www.democraticunderground.com/10024660707

Salt Lake City joins Phoenix in ending veteran homelessness
http://www.msnbc.com/melissa-harris-perry/mayor-declares-end-vet-homelessness

Phoenix Becomes First City To End Chronic Homelessness Among Veterans
http://www.democraticunderground.com/10024217875

ARRA and the Earned Income Tax Credit

Update May 31, 2013 — This page has been updated to reflect the fact that the EITC changes under ARRA, which were to expire at the end of 2012, were extended through December 2017 by the American Taxpayer Relief Act of 2012.

Update Oct. 31, 2011 — This page has been updated to reflect the fact that the EITC changes under ARRA, which were to expire at the end of 2010, were extended through December 2012 by the Tax Relief and Job Creation Act of 2010.


The earned income tax credit is a refundable credit intended to help people who work but earn modest incomes. The American Recovery and Reinvestment Act provides a temporary increase in the EITC for taxpayers with three or more qualifying children. In 2013, the maximum EITC for this new category is $6,044. ARRA also increased the beginning point of the phaseout range for the credit for all married couples filing a joint return, regardless of the number of children.

In 2013, the credit begins to phase out at $22,870 for married taxpayers filing a joint return with children and completely phases out at $43,210 for one child, $48,378 for two children and $51,567 for three or more children. For married taxpayers filing a joint return with no children, the credit begins to phase out at $13,310 and completely phases out at $19,680.

These changes applied to 2009 and 2010 tax returns under ARRA, and were extended by the Tax Relief and Job Creation Act of 2010 to apply to 2011 and 2012 tax returns. The American Taxpayer Relief Act of 2012 extended these temporary ARRA increases for five years through December 2017.

http://www.irs.gov/uac/ARRA-and-the-Earned-Income-Tax-Credit


Krugman: Obama and the One Percent
http://www.democraticunderground.com/10024391415

The heatlh care law also raised the payroll tax for high income earners and taxed investment income.

Net Investment Income Tax

A new Net Investment Income Tax goes into effect starting in 2013. The 3.8 percent Net Investment Income Tax applies to individuals, estates and trusts that have certain investment income above certain threshold amounts. The IRS and the Treasury Department have issued proposed regulations on the Net Investment Income Tax. Comments may be submitted electronically, by mail or hand delivered to the IRS. For additional information on the Net Investment Income Tax, see our questions and answers.

Additional Medicare Tax

A new Additional Medicare Tax goes into effect starting in 2013. The 0.9 percent Additional Medicare Tax applies to an individual’s wages, Railroad Retirement Tax Act compensation, and self-employment income that exceeds a threshold amount based on the individual’s filing status. The threshold amounts are $250,000 for married taxpayers who file jointly, $125,000 for married taxpayers who file separately, and $200,000 for all other taxpayers. An employer is responsible for withholding the Additional Medicare Tax from wages or compensation it pays to an employee in excess of $200,000 in a calendar year. The IRS and the Department of the Treasury have issued proposed regulations on the Additional Medicare Tax. Comments may be submitted electronically, by mail or hand delivered to the IRS. For additional information on the Additional Medicare Tax, see our questions and answers.

http://www.irs.gov/uac/Affordable-Care-Act-Tax-Provisions


Why Today is a Big Day for Voting Rights
https://www.aclu.org/blog/voting-rights/why-today-big-day-voting-rights

Obamacare boosting household income and spending

by Joan McCarter

It must have really killed the editorial board over at the Wall Street Journal to see this this story appear on the paper's website.

The Affordable Care Act, President Barack Barack Obama’s signature health law, is already boosting household income and spending.

The Commerce Department reported Monday that consumer spending rose a better-than-expected 0.4% and personal incomes climbed 0.3% in January. The new health-care law accounted for a big chunk of the increase on both fronts.

On the incomes side, the law’s expanded coverage boosted Medicaid benefits by an estimated $19.2 billion, according to Commerce’s Bureau of Economic Analysis. The ACA also offered several refundable tax credits, including health insurance premium subsidies, which added up to $14.7 billion.

Of course it's helping consumers. It was designed to. Which also means it will help the economy when those consumers have a little bit more personal income to spend out in the marketplace. It will help insurance companies who will have more customers, many of whom won't ever require big payouts. That's one of the reason this model of health insurance reform was proposed first by conservatives!

Kudos to the WSJ for noticing, but don't expect anyone on the right to acknowledge that this story exists.

http://www.dailykos.com/story/2014/03/04/1282095/-Obamacare-boosting-household-income-and-nbsp-spending

Presidential Proclamation -- National Foster Care Month, 2014
http://www.democraticunderground.com/10024910923

Gallup: Uninsured rate lowest since 2008
http://www.dailykos.com/story/2014/05/05/1296975/-Gallup-Uninsured-rate-lowest-since-nbsp-2008

New price transparency rules for hospitals
http://thehill.com/policy/healthcare/204868-new-price-transparency-rules-for-hospitals-under-o-care

Employers Must Notify Laid-Off Workers of Health-Care Options, New Rule Says
http://www.democraticunderground.com/10024910841

"Obamacare saved consumers billions, new report finds"
http://www.democraticunderground.com/10024968196

Obama's budget: Help for workers, taxes for the rich

By Jeanne Sahadi

President Obama on Tuesday released a nearly $4 trillion budget proposal for 2015 that includes more generous tax breaks for working families while scaling back breaks for the rich.

His budget, while not expected to be enacted by Congress, does offer the president's fiscal policy vision for the country...the White House says Obama's blueprint sticks to the topline spending limits already set by the House and Senate for 2015.

But the plan also features a $56 billion growth and investment package that includes money for universal pre-K, infrastructure and job training. Obama proposes to pay for those initiatives through additional spending restraint and increased revenue.

Impose a "Fair Share Tax": As he has called for before, Obama wants Congress to implement the so-called Buffett Rule, which would require people making over $1 million to pay at least 30% of their income, after charitable contributions, in federal taxes. <...>Cap the value of deductions for high-income households: Obama wants to limit the value of itemized deductions, as well certain tax exclusions, to 28% of the amount claimed. <...>Limit savers' combined balance across tax-preferred accounts: The president wants to prohibit contributions to tax-advantaged retirement accounts once a person's combined balance exceeds a certain level. Such accounts include IRAs and 401(k)s. <...>Raise the estate tax: The president wants restore the 2009 estate tax exemption levels and estate tax rate.

- more -

http://money.cnn.com/2014/03/04/pf/taxes/obama-budget-taxes/


Obama To Ask Congress For Cash For Roads, Bridges
http://www.democraticunderground.com/10024957061

FACT SHEET: President Obama Lays Out Vision for 21st Century Transportation Infrastructure

On February 26th, the President will speak at the historic Union Depot train station in Saint Paul, Minnesota, where he will launch a competition for $600 million in competitive transportation funding and outline his vision for investing in America’s infrastructure with a $302 billion, four year surface transportation reauthorization proposal. The President will continue to act when he can to promote job growth in the transportation sector and put more Americans back to work repairing and modernizing our roads, bridges, railways, and transit systems, and will also work with Congress to act to ensure critical transportation programs continue to be funded and do not expire later this year.

- more -

http://www.whitehouse.gov/the-press-office/2014/02/26/fact-sheet-president-obama-lays-out-vision-21st-century-transportation-i


Shortly after November’s city elections, President Obama invited 16 of the newly elected progressive mayors to a meeting at the White House. Peduto, Hodges, Murray, and de Blasio were among those who attended. Obama talked about his proposal for universal pre-K, which was languishing in Congress. At the federal level, it would obviously take some time to get such a measure enacted, Obama continued, or he could find 20 innovative mayors and get it done tomorrow. Provided they can scrape up the dollars...What’s happening in cities can be described as Obama’s agenda trickling down to the jurisdictions where it has enough political support to be enacted—but it’s also the incubation of policies and practices that will trickle up.

The Revolt of the Cities
http://www.democraticunderground.com/10024859982

Why It Matters That Home Care Workers Just Got New Labor Rights
http://thinkprogress.org/economy/2013/09/17/2634411/home-care-workers-rule-change/

NLRB Files Formal Complaint Against Walmart, Internal Anti-Union Documents Also Leaked
http://www.aflcio.org/Blog/Political-Action-Legislation/NLRB-Files-Formal-Complaint-Against-Walmart-Internal-Anti-Union-Documents-Also-Leaked

EPI: Court of Appeals Hands Victory to U.S. Workers
http://www.democraticunderground.com/10024450902

Truck Drivers Handed Labor Victory That Could Reshape The Industry (updated)
http://www.democraticunderground.com/10024705153

Elizabeth Warren:

There is no question that Dodd-Frank was a strong bill—the strongest in three generations. I didn’t have a chance to vote for it because I wasn’t yet in the Senate, but if I could have, I would have voted for it twice.

http://www.warren.senate.gov/files/documents/AFR%20Roosevelt%20Institute%20Speech%202013-11-12.pdf

The CFPB has been doing a great job, and the policies in place give regulators the tools to do their jobs.

CFPB, hard at work
http://www.democraticunderground.com/10024877283

Bank of America to pay nearly $800 million for deceptive credit card practices
http://www.washingtonpost.com/business/economy/bank-of-america-to-pay-nearly-800-million-for-deceptive-credit-card-practices/2014/04/09/982bba7e-c00d-11e3-b195-dd0c1174052c_story.html
http://www.democraticunderground.com/10024802019

Regulators Finalize Stricter Volcker Rule - Reuters/HuffPo
http://www.democraticunderground.com/10024158305

CFPB Sues ITT Tech For Allegedly Exploiting Students, Pushing Predatory Loans
http://www.democraticunderground.com/10024570346

Sen. Warren Praises New CFPB Mortgage Rules that Make Families, Economy Safer
http://www.democraticunderground.com/10024295777

Banks Ordered to Add Capital to Limit Risks
http://www.democraticunderground.com/10024798328

New York Financial Regulator Uses Dodd-Frank to Sue Auto Lender
http://dealbook.nytimes.com/2014/04/23/new-yorks-top-regulator-sues-subprime-auto-lender/

SEC Will Require Companies To Report CEO-To-Worker Pay Ratios
http://www.democraticunderground.com/10023694931

Robert Reich: The Significance of Citigroup’s Shareholder Revolt
http://www.democraticunderground.com/1002579118

Executive order on federal contracting means real action on economic mobility
http://www.democraticunderground.com/10024415803

Why isn't there more focus on shareholders' say on executive pay?
http://www.democraticunderground.com/10024877216

Obama administration starts to implement changes to NSA phone records program
http://www.democraticunderground.com/10024473684

ACLU: An Important Review of Big Data
http://www.democraticunderground.com/10024910850

Obama Administration Urges Cops To Help Save Lives By Treating Heroin Overdoses
http://www.democraticunderground.com/10024485335

U.S. Sentencing Commission Votes to Reduce Guidelines for Drug Sentences
https://www.aclu.org/criminal-law-reform/us-sentencing-commission-votes-reduce-guidelines-drug-sentences

Obama administration issue new banking rules for marijuana businesses
http://www.democraticunderground.com/10024501968

President Obama to Pardon/Commute "Hundreds, Perhaps Thousands" of Nonviolent Drug Offenders
http://www.dailykos.com/story/2014/04/21/1293503/-President-Obama-to-Pardon-Commute-Hundreds-Perhaps-Thousands-of-Nonviolent-Drug-Offenders

$1 Billion for Climate Preparedness: The White House Gets It
http://www.democraticunderground.com/10024505179

U.S. Approves Two Huge Solar Projects On Public Lands In California
http://www.democraticunderground.com/10024547836

President Obama Announces New Truck Efficiency Standards
http://www.democraticunderground.com/10024521194

EPA Hails Big Victory At Supreme Court
http://www.democraticunderground.com/10024885861





39 replies = new reply since forum marked as read
Highlight: NoneDon't highlight anything 5 newestHighlight 5 most recent replies
If Obama got his way... (Original Post) ProSense May 2014 OP
To highlight a few...yes it helps women and the middle class. sheshe2 May 2014 #1
Thanks. n/t ProSense May 2014 #4
+1 uponit7771 May 2014 #2
Kick!! nt msanthrope May 2014 #3
This is all a front! to hide his evil ways! It's a trick! Whisp May 2014 #5
His support of free trade cancels all that out ...period oneofthe99 May 2014 #6
LOL! ProSense May 2014 #7
Sorry but none of that matters when jobs are shipped and unions broken oneofthe99 May 2014 #8
Well "none of that matters" if people die. ProSense May 2014 #10
Top democrats have made statements it's bad for America oneofthe99 May 2014 #13
"Top" Democrats support increasing the minimum wage. ProSense May 2014 #14
There has to be jobs for that to matter oneofthe99 May 2014 #15
Oh, I don't ProSense May 2014 #22
Congress needs to do everything it can to block Obamas free trade deals oneofthe99 May 2014 #24
That makes no sense in relation to raising the minimum wage. n/t ProSense May 2014 #25
If good paying jobs leave then raising the minimum just means you flip a burger for 10 bucks oneofthe99 May 2014 #26
So you're saying people who "flip a burger" should only make $7.25 because...free trade? ProSense May 2014 #27
Are you now playing games with me ......that precious oneofthe99 May 2014 #31
+100 nt okaawhatever May 2014 #16
Sure, it cancels Everything out. Raine1967 May 2014 #12
+1...nt SidDithers May 2014 #30
If one is unable to discuss policy on a rational level, sure nt geek tragedy May 2014 #17
Very nice compilation! I don't think you could have done better if it were your actual, hughee99 May 2014 #9
Thanks, and ProSense May 2014 #11
. Egnever May 2014 #20
!!! Tarheel_Dem May 2014 #29
Oh and one other thing , if Obama got his way he would fast track free trade oneofthe99 May 2014 #18
Well, ProSense May 2014 #19
They should block his fast track oneofthe99 May 2014 #21
Clearly, ProSense May 2014 #23
K&R! Tarheel_Dem May 2014 #28
K&R!!! napkinz May 2014 #32
DU rec for a GD gem ucrdem May 2014 #33
Just what in the hell is wrong with you? krawhitham May 2014 #34
k&r... spanone May 2014 #35
Wow. I will have to put this in my Journal! Thanks, ProSense! freshwest May 2014 #36
Smart, fresh.. I'm adding my post on this thread to my journal too.. knowing it's chocked Full Cha May 2014 #38
Hey, ProSense May 2014 #39
Exponentially Better Off! We have an enemy within. Thank you ProSense for all info Cha May 2014 #37

sheshe2

(83,771 posts)
1. To highlight a few...yes it helps women and the middle class.
Mon May 19, 2014, 11:10 AM
May 2014

Key findings from the report include:

Raising the minimum wage is especially important for women because:

Women in the workforce are more highly concentrated in low-wage sectors such as personal care and healthcare support occupations.
Women account for more than half (55 percent) of all workers who would benefit from increasing the minimum wage to $10.10.
Women also make up the majority of workers in predominantly tipped occupation. Under Federal law, employers are allowed to pay a “tipped minimum wage” of $2.13 to employees who regularly earn tips as long as their tips plus the tipped minimum wage meet or exceed $7.25 per hour.

Women account for 72 percent of all workers in predominantly tipped occupations – such as restaurant servers, bartenders, and hairstylists.
Average hourly wages for workers in predominantly tipped occupations are nearly 40 percent lower than overall average hourly wages.

Workers in predominantly tipped occupations are twice as likely as other workers to experience poverty, and servers are almost three times as likely to be in poverty.
About half of all workers in predominantly tipped occupations would see their earnings increase as a result of the President’s proposal.

http://www.whitehouse.gov/the-press-office/2014/03/26/new-white-house-report-impact-raising-minimum-wage-women-and-importance-

Thanks ProSense, I have more reading to do.

 

Whisp

(24,096 posts)
5. This is all a front! to hide his evil ways! It's a trick!
Mon May 19, 2014, 02:05 PM
May 2014

He got ACA passed and millions of people are positively affected, but he doesn't REALLY want that, never did. He wants suffering, and he wants to give Big Corp all the money he can scrape off the flesh and bones of everyday people.

 

oneofthe99

(712 posts)
8. Sorry but none of that matters when jobs are shipped and unions broken
Mon May 19, 2014, 02:25 PM
May 2014

You can post any feel good stuff you want but reality is what it is.................

ProSense

(116,464 posts)
10. Well "none of that matters" if people die.
Mon May 19, 2014, 02:28 PM
May 2014

"You can post any feel good stuff you want but reality is what it is................."

You can't make the progress being made disappear by screaming free trade. That's simply nonsensical.

 

oneofthe99

(712 posts)
13. Top democrats have made statements it's bad for America
Mon May 19, 2014, 02:40 PM
May 2014

The only reason to support it is big corporations wanted to be able to ship jobs and close factories in the U.S with impunity.........

They got it with Obama
That's it ,that's all it is....no spinning it any other way

ProSense

(116,464 posts)
14. "Top" Democrats support increasing the minimum wage.
Mon May 19, 2014, 02:41 PM
May 2014

Why don't you let them know they're wasting their time.

 

oneofthe99

(712 posts)
15. There has to be jobs for that to matter
Mon May 19, 2014, 02:46 PM
May 2014




or do you want to see everyone flipping buggers and working in the service industry

ProSense

(116,464 posts)
22. Oh, I don't
Mon May 19, 2014, 04:33 PM
May 2014

"There has to be jobs for that to matter"

...disagree. Do you think Congress should wait until everyone has a job before raising the minimum wage?

 

oneofthe99

(712 posts)
24. Congress needs to do everything it can to block Obamas free trade deals
Mon May 19, 2014, 04:42 PM
May 2014

If the only jobs left are retail and service industry , people still won't be able to make a living wage.

How far can 10 bucks an hour go..........not very far

Lets get real okay.........................

 

oneofthe99

(712 posts)
26. If good paying jobs leave then raising the minimum just means you flip a burger for 10 bucks
Mon May 19, 2014, 04:52 PM
May 2014

So the person who lost his living wage job to free trade gets a burger flipping job for 10 bucks...yea
Still not a living wage...this is a dog and pony show

What Obama should BE doing is WORKING to keeping JOBS here not sending them over seas....................

ProSense

(116,464 posts)
27. So you're saying people who "flip a burger" should only make $7.25 because...free trade?
Mon May 19, 2014, 04:54 PM
May 2014

Are you saying the minimum wage shouldn't be raised?

What are you saying?

Raine1967

(11,589 posts)
12. Sure, it cancels Everything out.
Mon May 19, 2014, 02:34 PM
May 2014

Welcome to DU and thank you so much to help in the voter depression effort. Free trade sucks and so does Obama. (did I get that right?)
Do you really truthfully believe it cancels everything out? If so, why bother discussing this?

Discontent?

ProSense

(116,464 posts)
11. Thanks, and
Mon May 19, 2014, 02:29 PM
May 2014

"Very nice compilation! I don't think you could have done better if it were your actual, paying, job."

...can I use you as a reference?

LOL!

 

oneofthe99

(712 posts)
18. Oh and one other thing , if Obama got his way he would fast track free trade
Mon May 19, 2014, 02:56 PM
May 2014

Like your title says....................




http://www.bloomberg.com/news/2014-01-29/reid-says-he-opposes-renewing-fast-track-trade-authority.html

Reid Says He Opposes Renewing Fast-Track Trade Authority



The issue poses a political dilemma for Reid and other Democratic leaders. Many Democrats -- and the majority of them in the House -- oppose renewing the authority because they say the trade deals could hurt U.S. workers

U.S. corporations including Caterpillar Inc. (CAT) and Boeing Co. are pressing for passage of the bill before campaigns distract lawmakers running in the November elections. Obama’s mention of the matter follows months of criticism from business groups and Republicans in Congress who said he wasn’t pushing hard enough on it.


The Obama administration is seeking authority to smooth congressional passage of trade deals, including separate accords being negotiated with a group of 11 other Pacific-region governments and the 28-nation European Union. Those pacts would create the world’s largest free-trade zones, linking regions with about $44 trillion in annual economic output.

ProSense

(116,464 posts)
19. Well,
Mon May 19, 2014, 04:13 PM
May 2014

"Oh and one other thing , if Obama got his way he would fast track free trade"

...if Obama got his way:

Impose a "Fair Share Tax": As he has called for before, Obama wants Congress to implement the so-called Buffett Rule, which would require people making over $1 million to pay at least 30% of their income, after charitable contributions, in federal taxes. <...>Cap the value of deductions for high-income households: Obama wants to limit the value of itemized deductions, as well certain tax exclusions, to 28% of the amount claimed. <...>Limit savers' combined balance across tax-preferred accounts: The president wants to prohibit contributions to tax-advantaged retirement accounts once a person's combined balance exceeds a certain level. Such accounts include IRAs and 401(k)s. <...>Raise the estate tax: The president wants restore the 2009 estate tax exemption levels and estate tax rate.

Link in the OP.

I mean, Congress will no doubt play a role. I'm sure you're not implying that Congress should block every proposal from the President.

 

oneofthe99

(712 posts)
21. They should block his fast track
Mon May 19, 2014, 04:19 PM
May 2014

and if possible his free trade agreement.

I'm sure you agree ...right

ProSense

(116,464 posts)
23. Clearly,
Mon May 19, 2014, 04:41 PM
May 2014

"They should block his fast track and if possible his free trade agreement. I'm sure you agree ...right"

...fast track sucks. Congress should be involved. Still, they should decide how to proceed based on merit. If the agreement sucks, block it. If not, it should go forward. I'm not going to agree that a proposal sucks before it has been released.

krawhitham

(4,644 posts)
34. Just what in the hell is wrong with you?
Mon May 19, 2014, 08:17 PM
May 2014

You should know better than to bring facts into a debate about President Obama

freshwest

(53,661 posts)
36. Wow. I will have to put this in my Journal! Thanks, ProSense!
Mon May 19, 2014, 09:53 PM
May 2014

If Obama got his way...

Americans and the country would be better off. He's working on it.

BOOM: Obama signs order to raise minimum wage for federal contractors...disabled workers included!

http://www.democraticunderground.com/10024489919

The President knows this is important for workers, and good for the economy. That is why the President has already signed an executive order to raise the minimum wage and tipped minimum wage for federal contract workers and is calling on Congress to raise the national minimum wage from $7.25 to $10.10 per hour and index it to inflation thereafter, while also raising the tipped minimum wage for the first time in over 20 years. Increasing the minimum wage and the tipped minimum wage is especially important for women, who make up more than half of the workforce in jobs that pay the minimum wage and tipped occupations. Today, the White House is releasing a new report that lays out how women and the workforce would benefit if Congress passed legislation to raise the national minimum wage and tipped minimum wage for all Americans. Key findings from the report include:

NEW WHITE HOUSE REPORT: The Impact of Raising the Minimum Wage on Women and the Importance of Ensuring a Robust Tipped Minimum Wage

http://www.whitehouse.gov/the-press-office/2014/03/26/new-white-house-report-impact-raising-minimum-wage-women-and-importance-

How Obama's Reforms To Overtime Law Will Change People's Lives

http://www.democraticunderground.com/10024660707

Salt Lake City joins Phoenix in ending veteran homelessness

http://www.msnbc.com/melissa-harris-perry/mayor-declares-end-vet-homelessness

Phoenix Becomes First City To End Chronic Homelessness Among Veterans

http://www.democraticunderground.com/10024217875

ARRA and the Earned Income Tax Credit

Update May 31, 2013 — This page has been updated to reflect the fact that the EITC changes under ARRA, which were to expire at the end of 2012, were extended through December 2017 by the American Taxpayer Relief Act of 2012.

Update Oct. 31, 2011 — This page has been updated to reflect the fact that the EITC changes under ARRA, which were to expire at the end of 2010, were extended through December 2012 by the Tax Relief and Job Creation Act of 2010.

The earned income tax credit is a refundable credit intended to help people who work but earn modest incomes. The American Recovery and Reinvestment Act provides a temporary increase in the EITC for taxpayers with three or more qualifying children. In 2013, the maximum EITC for this new category is $6,044. ARRA also increased the beginning point of the phaseout range for the credit for all married couples filing a joint return, regardless of the number of children.

In 2013, the credit begins to phase out at $22,870 for married taxpayers filing a joint return with children and completely phases out at $43,210 for one child, $48,378 for two children and $51,567 for three or more children. For married taxpayers filing a joint return with no children, the credit begins to phase out at $13,310 and completely phases out at $19,680.

These changes applied to 2009 and 2010 tax returns under ARRA, and were extended by the Tax Relief and Job Creation Act of 2010 to apply to 2011 and 2012 tax returns. The American Taxpayer Relief Act of 2012 extended these temporary ARRA increases for five years through December 2017.

http://www.irs.gov/uac/ARRA-and-the-Earned-Income-Tax-Credit


Krugman: Obama and the One Percent

http://www.democraticunderground.com/10024391415

The heatlh care law also raised the payroll tax for high income earners and taxed investment income.

Net Investment Income Tax

A new Net Investment Income Tax goes into effect starting in 2013. The 3.8 percent Net Investment Income Tax applies to individuals, estates and trusts that have certain investment income above certain threshold amounts. The IRS and the Treasury Department have issued proposed regulations on the Net Investment Income Tax. Comments may be submitted electronically, by mail or hand delivered to the IRS. For additional information on the Net Investment Income Tax, see our questions and answers.

Additional Medicare Tax

A new Additional Medicare Tax goes into effect starting in 2013. The 0.9 percent Additional Medicare Tax applies to an individual’s wages, Railroad Retirement Tax Act compensation, and self-employment income that exceeds a threshold amount based on the individual’s filing status. The threshold amounts are $250,000 for married taxpayers who file jointly, $125,000 for married taxpayers who file separately, and $200,000 for all other taxpayers. An employer is responsible for withholding the Additional Medicare Tax from wages or compensation it pays to an employee in excess of $200,000 in a calendar year. The IRS and the Department of the Treasury have issued proposed regulations on the Additional Medicare Tax. Comments may be submitted electronically, by mail or hand delivered to the IRS. For additional information on the Additional Medicare Tax, see our questions and answers.

http://www.irs.gov/uac/Affordable-Care-Act-Tax-Provisions

Why Today is a Big Day for Voting Rights

https://www.aclu.org/blog/voting-rights/why-today-big-day-voting-rights

Obamacare boosting household income and spending

by Joan McCarter

It must have really killed the editorial board over at the Wall Street Journal to see this this story appear on the paper's website.

The Affordable Care Act, President Barack Barack Obama’s signature health law, is already boosting household income and spending.

The Commerce Department reported Monday that consumer spending rose a better-than-expected 0.4% and personal incomes climbed 0.3% in January. The new health-care law accounted for a big chunk of the increase on both fronts.

On the incomes side, the law’s expanded coverage boosted Medicaid benefits by an estimated $19.2 billion, according to Commerce’s Bureau of Economic Analysis. The ACA also offered several refundable tax credits, including health insurance premium subsidies, which added up to $14.7 billion.

Of course it's helping consumers. It was designed to. Which also means it will help the economy when those consumers have a little bit more personal income to spend out in the marketplace. It will help insurance companies who will have more customers, many of whom won't ever require big payouts. That's one of the reason this model of health insurance reform was proposed first by conservatives!

Kudos to the WSJ for noticing, but don't expect anyone on the right to acknowledge that this story exists.

http://www.dailykos.com/story/2014/03/04/1282095/-Obamacare-boosting-household-income-and-nbsp-spending

Presidential Proclamation -- National Foster Care Month, 2014

http://www.democraticunderground.com/10024910923

Gallup: Uninsured rate lowest since 2008

http://www.dailykos.com/story/2014/05/05/1296975/-Gallup-Uninsured-rate-lowest-since-nbsp-2008

New price transparency rules for hospitals

http://thehill.com/policy/healthcare/204868-new-price-transparency-rules-for-hospitals-under-o-care

Employers Must Notify Laid-Off Workers of Health-Care Options, New Rule Says

http://www.democraticunderground.com/10024910841

"Obamacare saved consumers billions, new report finds"

http://www.democraticunderground.com/10024968196

Obama's budget: Help for workers, taxes for the rich

By Jeanne Sahadi

President Obama on Tuesday released a nearly $4 trillion budget proposal for 2015 that includes more generous tax breaks for working families while scaling back breaks for the rich.

His budget, while not expected to be enacted by Congress, does offer the president's fiscal policy vision for the country...the White House says Obama's blueprint sticks to the topline spending limits already set by the House and Senate for 2015.

But the plan also features a $56 billion growth and investment package that includes money for universal pre-K, infrastructure and job training. Obama proposes to pay for those initiatives through additional spending restraint and increased revenue.

Impose a "Fair Share Tax": As he has called for before, Obama wants Congress to implement the so-called Buffett Rule, which would require people making over $1 million to pay at least 30% of their income, after charitable contributions, in federal taxes. <...>Cap the value of deductions for high-income households: Obama wants to limit the value of itemized deductions, as well certain tax exclusions, to 28% of the amount claimed. <...>Limit savers' combined balance across tax-preferred accounts: The president wants to prohibit contributions to tax-advantaged retirement accounts once a person's combined balance exceeds a certain level. Such accounts include IRAs and 401(k)s. <...>Raise the estate tax: The president wants restore the 2009 estate tax exemption levels and estate tax rate.

http://money.cnn.com/2014/03/04/pf/taxes/obama-budget-taxes/

Obama To Ask Congress For Cash For Roads, Bridges

http://www.democraticunderground.com/10024957061

FACT SHEET: President Obama Lays Out Vision for 21st Century Transportation Infrastructure

On February 26th, the President will speak at the historic Union Depot train station in Saint Paul, Minnesota, where he will launch a competition for $600 million in competitive transportation funding and outline his vision for investing in America’s infrastructure with a $302 billion, four year surface transportation reauthorization proposal. The President will continue to act when he can to promote job growth in the transportation sector and put more Americans back to work repairing and modernizing our roads, bridges, railways, and transit systems, and will also work with Congress to act to ensure critical transportation programs continue to be funded and do not expire later this year.

http://www.whitehouse.gov/the-press-office/2014/02/26/fact-sheet-president-obama-lays-out-vision-21st-century-transportation-i

Shortly after November’s city elections, President Obama invited 16 of the newly elected progressive mayors to a meeting at the White House. Peduto, Hodges, Murray, and de Blasio were among those who attended. Obama talked about his proposal for universal pre-K, which was languishing in Congress. At the federal level, it would obviously take some time to get such a measure enacted, Obama continued, or he could find 20 innovative mayors and get it done tomorrow. Provided they can scrape up the dollars...What’s happening in cities can be described as Obama’s agenda trickling down to the jurisdictions where it has enough political support to be enacted—but it’s also the incubation of policies and practices that will trickle up.

The Revolt of the Cities
http://www.democraticunderground.com/10024859982

Why It Matters That Home Care Workers Just Got New Labor Rights

http://thinkprogress.org/economy/2013/09/17/2634411/home-care-workers-rule-change/

NLRB Files Formal Complaint Against Walmart, Internal Anti-Union Documents Also Leaked

http://www.aflcio.org/Blog/Political-Action-Legislation/NLRB-Files-Formal-Complaint-Against-Walmart-Internal-Anti-Union-Documents-Also-Leaked

EPI: Court of Appeals Hands Victory to U.S. Workers

http://www.democraticunderground.com/10024450902

Truck Drivers Handed Labor Victory That Could Reshape The Industry (updated)

http://www.democraticunderground.com/10024705153

Elizabeth Warren:

There is no question that Dodd-Frank was a strong bill—the strongest in three generations. I didn’t have a chance to vote for it because I wasn’t yet in the Senate, but if I could have, I would have voted for it twice.

http://www.warren.senate.gov/files/documents/AFR%20Roosevelt%20Institute%20Speech%202013-11-12.pdf

The CFPB has been doing a great job, and the policies in place give regulators the tools to do their jobs.

CFPB, hard at work

http://www.democraticunderground.com/10024877283

Bank of America to pay nearly $800 million for deceptive credit card practices

http://www.washingtonpost.com/business/economy/bank-of-america-to-pay-nearly-800-million-for-deceptive-credit-card-practices/2014/04/09/982bba7e-c00d-11e3-b195-dd0c1174052c_story.html

http://www.democraticunderground.com/10024802019

Regulators Finalize Stricter Volcker Rule - Reuters/HuffPo

http://www.democraticunderground.com/10024158305

CFPB Sues ITT Tech For Allegedly Exploiting Students, Pushing Predatory Loans

http://www.democraticunderground.com/10024570346

Sen. Warren Praises New CFPB Mortgage Rules that Make Families, Economy Safer

http://www.democraticunderground.com/10024295777

Banks Ordered to Add Capital to Limit Risks

http://www.democraticunderground.com/10024798328

New York Financial Regulator Uses Dodd-Frank to Sue Auto Lender

http://dealbook.nytimes.com/2014/04/23/new-yorks-top-regulator-sues-subprime-auto-lender/

SEC Will Require Companies To Report CEO-To-Worker Pay Ratios

http://www.democraticunderground.com/10023694931

Robert Reich: The Significance of Citigroup’s Shareholder Revolt

http://www.democraticunderground.com/1002579118

Executive order on federal contracting means real action on economic mobility

http://www.democraticunderground.com/10024415803

Why isn't there more focus on shareholders' say on executive pay?

http://www.democraticunderground.com/10024877216

Obama administration starts to implement changes to NSA phone records program

http://www.democraticunderground.com/10024473684

ACLU: An Important Review of Big Data

http://www.democraticunderground.com/10024910850

Obama Administration Urges Cops To Help Save Lives By Treating Heroin Overdoses

http://www.democraticunderground.com/10024485335

U.S. Sentencing Commission Votes to Reduce Guidelines for Drug Sentences

https://www.aclu.org/criminal-law-reform/us-sentencing-commission-votes-reduce-guidelines-drug-sentences

Obama administration issue new banking rules for marijuana businesses

http://www.democraticunderground.com/10024501968

President Obama to Pardon/Commute "Hundreds, Perhaps Thousands" of Nonviolent Drug Offenders

http://www.dailykos.com/story/2014/04/21/1293503/-President-Obama-to-Pardon-Commute-Hundreds-Perhaps-Thousands-of-Nonviolent-Drug-Offenders

$1 Billion for Climate Preparedness: The White House Gets It

http://www.democraticunderground.com/10024505179

U.S. Approves Two Huge Solar Projects On Public Lands In California

http://www.democraticunderground.com/10024547836

President Obama Announces New Truck Efficiency Standards

http://www.democraticunderground.com/10024521194

EPA Hails Big Victory At Supreme Court

http://www.democraticunderground.com/10024885861

to ProSense:

http://www.democraticunderground.com/10024972225

Cha

(297,242 posts)
38. Smart, fresh.. I'm adding my post on this thread to my journal too.. knowing it's chocked Full
Mon May 19, 2014, 10:31 PM
May 2014

of great stuff by PS.

Cha

(297,242 posts)
37. Exponentially Better Off! We have an enemy within. Thank you ProSense for all info
Mon May 19, 2014, 10:29 PM
May 2014

regarding what progress the President is doing in spite of Obstruction from hell.

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