Will Obama raise taxes?
Obabba has stated that he will raise the capital gains tax by 15 %, he said he will also raise payroll taxes. You tell me, How will that help the small buisness person who employs 20 to 30 people. I have 37 employees, and my payroll taxes that I send to the government every week, are 4500,00 to 6000.00. If they go any higher my buisness will go down, so there goes 37 more jobs. I built my buisness on sweat, and yes I borrowed 130,000.00 dollars from the bank,and I paid it back within 9 years. What I am trying to say is the government didn’t help me start my buisness, but you can bet they will be the ones to take it away if Obama has anything to do with it.
,,Why does Obama want to raise the payroll tax and capital gains tax if it will significantly affect the? ,Obama promised not to raise taxes, of any kind, on people who earn below $200,000. Will Dems admit he lied? ,Why did Obama voted twice on 3/14/08 and 6/4/08 to raise taxes on people making more than just $42K a year ? ,Which of the following taxes Barack Obama wants to raise:? ,Did Obama say whether or not he would raise taxes on the middle income earners? ,Comments (7)
/ Democrats ALWAYS raise taxes.
Democrats ALWAYS spend money.
Democrats ALWAYS give away (earmark) hard-earned taxpayer’s money.
FOrget about the Bush Administration. George Bush was extremely opposite of a Republican when it came to the taxpayer’s money.
McCain is NOT Bush.
Obama WILL raise your taxes, and you will suffer more under his administration in the first 4 years, than we did in the last eight under Bush.
McCain/Palin 2008
Depends. He said that the taxes for all the people making less $250,000 would have taxes that go down. He just wants to raise the taxes for big businesses and the rich. If you only have 37 employees you would not count among big business so I suggest you not worry about it.
Democrats do not favor business. They are in the business of favoring individual irresponsibility, hence the need for so many handouts and bigger government. Proven true again and again. They cater to those that want something for nothing. Yes, Obama and the democratic Congress will raise taxes. This is already known by the democratic deadbeats in control of Congress. And for those who still believe the lie that he will only raise taxes on the rich (as if $250,000 defines rich in America) you will have so many increases in taxes on everything you buy it won’t be funny.
Oh yeah he will. It will come in all forms.
That’s right capitol gains. When your elderly parents or grandparents that don’t make much money and need to sell their home they live in for many years they will feel the pain. All will feel the pain!
Guess what? Taxes will go up no matter who is elected.
That 700 Billion isn’t going to pay for itself.
You bet he will. everyone will suffer. Only the mentally retarded would still laugh.
As an overall all answer to your broad question I think the answer is no. The vast majority of Americans will see no change or receive a tax cut.
Your might want to rephrase your question because you seem more concerned with specifically payroll taxes for social security.
Obama (that would be the correct spelling of his name) will raise your income taxes only if you earn more than $250,000 per year. In effect he is resetting the tax level to where they were under Bill Clinton. From my understanding on the payroll tax issue he is only raising the cap on payroll taxes on earners of over $97,500 per year.
So to answer your question he is raising income tax on earner of $250,000 per year and payroll taxes on earners of $97,500 per year.