I thought the rate was lower than 250k... i thought at one point it was around 120k.

Taxing the rich is not gonna help growth at all. In fact its these rich people that create jobs.

Is it that hard to balance a budget? I mean really most americans with a brain do it on a weekly basis...

But dont worry BO has pretty much thrown out the idea of balancing the budget... yet another thing he promised along with the "change" to DC... hes 2 for 2 at fail already cant wait to see what else is in store.

Right now we need JOBS and not more spending... take more money form people is not the answer.

It would be ridiculous for a new president to allow himself to be intimidated by...  common sense or sound economics.

A non-sequitor.  He's still right - taxing the rich is not going to foster job growth (except in the government sector).

Yep and how much do we really trust politicans to actually spend the money wisely? I cant think of to many times its happend. All its going to do is line yet more pockets of the already rich so your not really solving any problems just moving wealth from one rich person to anoter

Sure tax the rich, have them move their businesses out of the country so there are more lost jobs, great Idea!!!!

An interesting ancillary point.

Given that Obama has made it apparent he will let the tax cuts enacted by Congress expire; thereby increasing taxes for everyone (well I suppose those not paying taxes won't see an increase), can one assume he will simultaneously or perhaps pre-emptively lower tax rates on all but the 'rich' to not only offset the increased tax burden as a result of expired cuts but to also lower those rates even further in order to follow through on his campaign promise to lower taxes for all but those making over $250K, $200K, or $150K, whichever may be the actual figure?

its going to be down to the "40ishK mark" telling you all this stuff about lowering taxes on middle to poor and increase for the richer people is not going to happen. I dont see how else hes going to get half the stuff done by lowering taxes or raising the taxes on the small % of people..... Eihter there is gonna be a huge tax burden on the rich to pay for this stuff he wants to do or hes just lied AGAIN and will screw all of us. Pick your posion... The people that usually support the Tax increases on the rich are usually the people not so well off anyways so to them its more free goodies from the gov...

Let me say , I am not a rich person and make 25-35k a year. You would think I would want free handouts... not the case. I want these rich people to create jobs for me and other people in my boat so we can all stay working and be productive. Right now I am on my second layoff this YEAR already.... and one was due to flooding and the last one is due to me being a temp because there is no jobs out there to begin with... so yeah keep taxing the rich... they will just move overseas and screw the rest of us.

Some folks aren't going to be happy until they get their next depression. But I totally agree with your plan as that would get the Democrats out of office very quickly, please hurry up Obama!

That said I think the author is just stirring the pot and doesn't believe what he wrote himself. Are you lonely this weekend and need some attention? Come on now there are better ways than this.

I dont get it... you for or agenst the higher taxes?

No he just failed basic economics, assuming he bothered to study it at all. Only a total moron could actually believe that higher taxes is good for the economy. When you raise taxes on businesses they cut jobs, slow or stop growth, and more often than not move their production to countries with lower labor and tax rates. It's a great plan for reducing the US to a third world nation.

Ireland finally figured this out. When they slashed taxes on the wealthy and especially businesses their economy experienced a boom unlike anything they'd seen in a very long time and the government saw tax revenues skyrocket.

Yeah.

I got my first job after high school in 1998 Ireland.

As in since the potato famine.

Or history. FDR turned a recession into a depression.  Will BHO do the same?  I thought he was only a carter.  Lord help us if he is going to drive us down this path.  But his rhetoric sure has the markets thinking that.  2k drop in only 3 weeks.

Of course I'm against higher taxes, my point was that some folks see that as the answer (taxing the rich or killing the golden goose, same thing). The sooner they get schooled in how disastrous that would be, maybe we can stop hearing about it. So I want them to commit political suicide. The only flaw is I don't think Obama is that stupid (at least not his advisor's) because he wants to be around for a while. So the choice is simple, abandon his campaign promises (and show his supporters that "change" was a BS election stunt) or destroy the economy by taxing the job creators out of existence, or somewhere in the middle politics as usual (so much for hope).

Higher or lower taxes, I'll weather the storm. I would like to see the folks that had little idea why they voted get what they asked for. It's just a pity those that that knew what to expect will suffer with the rest. The big question is can Obama pull it off far enough before the next election so that the persons of short memory will forget their suffering or will he convince them that the job isn't finished and he needs four more years? I can see many of his hope and change ads coming back to haunt him, just like Bush Sr.'s "Read my lips" statement.