Obama says he will cut taxes, however people are saying he will raise them?

Question

I heard a obama speech and he said he will "cut taxes", however, many people are saying that he wont, he will actually raise them..

This is a speech of obama's that I really liked http://www.youtube.com/watch?v=kv8eiDvrHJ4 where he mentions he will cut taxes..

Answer 1

balancing act

Answer 2

He's pretty clear on his position.  If you make less than $250k per year, your taxes will likely be lower if he manages to push through his proposals.  If you earn more than $250k per year your taxes will likely rise.

Of course, that assumes that he can push through his entire tax proposal once he's elected.  Congress writes the laws, not the President.  It's pretty common to have a "honeymoon period" once a new President takes office and the new Congressional session starts, especially if the party in White House also has a majority in Congress.  However once the first 100 days of a new administration have passed, it will probably be back to "business as usual" regardless of who is in the White House.

Answer 3

He's proposing a lot of new spending - the money has to come from someplace, and ending Iraq spending isn't enough to cover all the new spending.

Don't take too seriously the promised made during a campaign - on either side.  And as for the tax increase only if you make over $250K, don't take that seriously at all.  Politicians regularly make campaign promises, and would have no chance of getting elected if they said "but it'll cost you" - it's always the other guy, the rich one, who will pay for it all.

Answer 4

Presidential candidates say things that they have no power to deliver. Sometimes (GASP) they say things just to get elected, and have no intention of delivering. They usually blame congress, who actually has the power.

Obama has no power to cut taxes. Congress only has that power.

It is the Republicans that traditionally want to cut taxes, and the Democrats that traditionally want to increase social programs. This isn't always ACTUALLY the case, it is usually candidate by candidate.

So, a traditional criticism of any Democrat is they want to raise taxes. And a traditional response to any tax lowering proposal is it will benefit the rich. This is politics.

Taxes are a hodgepodge of laws that have to raise money, but also have to satisfy the voters that put the congress in office. It is a compromise. Taxes can't be cut somewhere without raising them somewhere else, or cutting the budget somewhere. A popular rhetoric is to tax the "rich," without defining too closely what the "rich" are (one doesn't want to lose votes!). The really "rich" don't need to recognize income, and it is an income tax that funds most of the government, so if the tax rate gets too high for the "rich," the funds dry up. So the most effective way of gaining money is to tax the "middle class," those that have to work. But promise them a tax cut, they have short memories.

Answer 5

Mr. Obama or at least his campaign has promised only to raise taxes on the "rich".  Now my $100 a week would be "rich" when compared to the $1 a month that his brother in Kenya makes.  They also want to raise taxes on the companies. Now that may sound good.  However if you happen to buy something from that company, like milk, bread or gas, who do you think will pay the added tax.  Don't think that raising "someone else's" taxes won't effect you.  Higher taxes are only good for the politicians who will have more money to buy votes with.  

Answer 6

Don't all want-to-be politicians say they'll cut taxes?

Then when they get into power, they either forget about that "promise" or, if they actually do cut them, raise them in another area?

  Believing any "political promises" is a little on the gullible side.

Once they're elected, why do they need to worry about what you expect of them until the next time they're up for re-election?

Answer 7

Just remember one thing when you hear either presidential candidate promise things:  congress passes bills that the president can either sign into law or can veto.  That is all a president can do regarding laws - taxes or otherwise.

When Obama promises to cut taxes, he is making a promise that he can not and never will have the power to do, even if elected.  He is telling you what you want to hear - raise taxes for people that make more money than me so you can lower my taxes.  What politician has not promised that?  Even though no president will ever have the authority to do it!

I saw every one of Obama's speeches before, during and after the democratic convention so I have heard every one of his promises.  It is interesting that only one promise - to bring the troops home from the middle east - does the president even have control over.  The rest of his promises have to be enacted by congress.

What you understand how laws are made, you tend to see these politicians and their promises a lot differently.

Answer 8

YouTube is NOT a reliable source.

Obama has repeatedly stated that he will raise taxes "on the rich".

Now, consider just _who_ the rich are:

They own the large corporations in the U.S.

Those corporations are in the business of supplying the goods and services that we use on a daily basis.

Now, consider this:

1. Everything has a cost of production, whether it is some manufactured product or a service to be rendered.

2. That cost is included in the purchase price

3. Taxes are a part of the cost of production

4. If the cost of production increases, the retail price increases

5. Corporations do not pay taxes

6. Consumers pay taxes.