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Originally Posted by Snake Doctor
I don't want to get in the mud with you on this, but if we're talking facts, then let's talk facts.
Those 13% don't pay federal income taxes, they do pay payroll taxes (FICA). Obama is proposing a tax credit for those people to offset some of their payroll tax.
The 95% number is a little pie in the sky, the actual statement should be "95% of families", and even then you have to look at the numbers in the best possible light...but to call it a lie is a bit much.
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FICA is social security. I'm glad you're ok with giving people a completely free ride and then pay for their retirement and give free healthcare to the children they can't afford to have but I'm not.
please don't confuse income tax with FICA, FICA is where the poor pay a small token to receive many times that in return during "retirement"
Quote:
Originally Posted by Snake Doctor
28% was the capital gains rate Bill Clinton inherited from George HW Bush, which he inherited from your hero Ronald Reagan.
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silly kid. the democratic controlled congress blocked Reagan from lowering taxes:
http://query.nytimes.com/gst/fullpag...pagewanted=all
"""Prospects are considered slim that President Reagan's call for lower capital gains taxes will go anywhere in the Democratic-controlled Congress in the forseeable future.
President Reagan, who is expected to propose such a reduction in his State of the Union Message Monday night, has pressed the idea before - in his first and second terms. But his only success with Congress came in his first year in office.
In the past two years, Congress has soundly rejected various proposals to cut capital gains taxes in considering major tax legislation.""
Quote:
Originally Posted by Snake Doctor
Clinton cut that rate twice, once to 23%, and again to 20%.
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no, again you're wrong. The republican controlled congress lowered the rate. Not Clinton
Quote:
Originally Posted by Snake Doctor
The 20% rate that was in place when Clinton left office is what Obama is proposing to go back to.
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I alreaded quoted obama on this and he did not say 20%.
I won't call you a liar if you can come up with a quote of his saying 20%
Quote:
Originally Posted by Snake Doctor
All of Obama's tax proposals will have you paying less taxes than you did under Ronald Reagan, so while tomorrow's taxes might be higher than today's taxes, these are hardly onerous proposals that would hurt the economy.
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incorrect as well as irrelevant.