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No hate here, just disbelief in what the President says. Oh, yeah, it was beyond his control to raise taxes on the wealthy...maybe this time he means it? Empty words...
I will raise CEO taxes, no doubt about it
Q: McCain is going to say you’re going to raise taxes. A: I will raise CEO taxes. There is no doubt about it. Q: What about the average American? A: If you are a CEO in this country, you will probably pay more taxes. They won’t be prohibitively high. You’re going to be paying roughly what you paid in the ‘90s, when CEOs were doing just fine. Q: So, you want to just eliminate the Bush tax cuts? A: I want to eliminate the Bush tax cuts. And what I have said is, I will institute a middle-class tax cut. So, if you’re making $75,000, if you’re making $50,000 a year, you will see an extra $1,000 a year offsetting on your payroll tax. Q: Define middle class. A: Well, look, I think that the definitions are always a little bit rough, but if you’re making $100,000 a year or less, then you’re pretty solidly middle class, and you deserve relief right now, as opposed to paying higher taxes. But people who are making over $200,000 or $250,000 have benefited the most from economic growth. Source: CNN Late Edition: 2008 presidential series with Wolf Blitzer May 11, 2008
Obama also seeks to increase tax collections, mainly by making good on his promise to eliminate some of the temporary tax cuts enacted in 2001 and 2003. While the budget would keep the breaks that benefit middle-income families, it would eliminate them for wealthy taxpayers, defined as families earning more than $250,000 a year. Those tax breaks would be permitted to expire on schedule in 2011. That means the top tax rate would rise from 35 percent to 39.6 percent, the tax on capital gains would jump to 20 percent from 15 percent for wealthy filers and the tax on estates worth more than $3.5 million would be maintained at the current rate of 45 percent. Washington Post Staff Writers Sunday, February 22, 2009
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