Bizarrely, CBS’s O’Donnell Cites ‘Cost to Taxpayers’ of Maintaining Current Income Tax Rates
$150 billion. That’s “the cost to taxpayers” for President Barack Obama’s proposal to not increase the income tax rate for those earning less than $250,000, White House correspondent Norah O’Donnell bizarrely asserted on Monday’s CBS Evening News. As for Republican nominee Mitt Romney’s desire to keep rates the same for all permanently, O’Donnell fretted: “The cost to taxpayers? An additional $850 billion over the next ten years.”
So, not increasing the amount a person pays in federal income tax is a “cost” to them? That’s just surreal, but reflects the media’s conflation of taxpayers and the government.
Isn’t it more a “cost” to the government? Or, I guess you could consider it a “cost” to the nearly half the population who are income tax freeloaders for whom liberals in government would have less to spend to buy their votes.
Audio: MP3 clip
From the Monday, July 9 CBS Evening News:
NORAH O’DONNELL: ...President Obama is calling on Congress to pass a one-year extension of the Bush-era tax cuts for households earning less than $250,000 a year and individuals earning less than $200,000. Those tax cuts expire at the end of December and the cost to taxpayers for the year: $150 billion.
PRESIDENT BARACK OBAMA: So I’m not proposing anything radical. I just believe that anybody making over $250,000 a year should go back to the income tax rates we were paying under Bill Clinton. Back when our economy created nearly 23 million new jobs, the biggest budget surplus in history, and plenty of millionaires to boot.
O’DONNELL: But Republicans -- including Mitt Romney -- want to make permanent all of the Bush-era tax cuts, including those for households earning over $250,000. The cost to taxpayers? An additional $850 billion over the next ten years....
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Comments
Paying less money costs you
Submitted by tcm14 on Mon, 07/09/2012 - 10:24pm.
Paying less money costs you more money. George Orwell is alive and well and writing for the CBS Evening News.
Eggs-akley
Submitted by almostacowboy on Tue, 07/10/2012 - 8:38am.
.
These people do believe they are entitled...
Submitted by paratisi on Mon, 07/09/2012 - 10:32pm.
to our money.
The sickness instilled and indoctrinated into this concept is just another reason to fix the educational system. Just scrap it and start over. The worst part is the amount of brain dead followers of these ideas. When you try to explain the concept through a simple example, like what was done on a few college campus' this year(grade trading), they just look at you like you were speaking Chinese.
Not the Govt's Money
Submitted by Free Thinker on Mon, 07/09/2012 - 10:36pm.
Someone needs to remind Nora that it is not the governments money to begin with. Allowing me to keep more of what I earn costs me nothing and contributes more to the economy than the government ever can by confiscating MY money.
Can I get an "AMEN" on what
Submitted by Scuba Dude on Mon, 07/09/2012 - 11:44pm.
Can I get an "AMEN" on what Free Thinker said?
AMEN to that!!!!
Amen...
Submitted by almostacowboy on Tue, 07/10/2012 - 8:40am.
Scube!
Logic does not deserve
Submitted by amlaml on Mon, 07/09/2012 - 10:42pm.
this kind of torture. Only in leftist land can the idea of allowing taxpayers to keep more of their money a "cost to taxpayers" exist.
I'm So Lucky...
Submitted by bigdaddy on Mon, 07/09/2012 - 11:03pm.
...to get to keep some of the $$$ that I bust my a$$ for all year long. I'm amazed that there's any left after the IRS gets done auditing and a$$ raping us. After Obamatax/penalty puts my employer provided health plan out of business and I get to figure out where that's going to come from I should be able to get food stamps or welfare. Oh that's right, I have a JOB and I wouldn't qualify.
How the Left sees the economy
Submitted by Unsane on Mon, 07/09/2012 - 11:05pm.
This is because, according to Miss O'Donnell and others of her ilk on the Left, the government owns and controls every imaginable aspect of the economy. To them, "net pay" is what the government is kind enough to allow us peasants to have, but the government CAN, WILL, and MUST take that back from us at any moment, as they see fit.
"CONSUMED DEMOCRACY RETURNS A SOCIALIST REGIME" - Slayer, "Fictional Reality", from Divine Intervention (1994)
Norah needs to thanks CBS for
Submitted by LAM SON 719 on Mon, 07/09/2012 - 11:54pm.
Norah needs to thanks CBS for showing that retards can function in an environment other than an institutuion.
The real Bush Tax Cuts...
Submitted by Stan T on Tue, 07/10/2012 - 1:46am.
Okay, first, saying the "Bush Tax Cuts" is really an inaccurate description. here's what the Bus tax cuts really were...yes, the rich got a tax cut...but the middle-class and the poor didn't get a tax cut, the got a "tax credit"...what's the difference? a tax cut means you pay less in taxes than you were paying...but a tax credit is like the "earned income credit". you fill out your tax return, and determine your taxes owed, then you deduct the tax credits from the taxes you owe, if any, and you get a check for that amount...
So, the Bush Tax Cuts means the Rich get to keep more of their own money, and the tax credits to everyone else means they all get a HAND OUT...keeping in mind that of the Bush Tax Cuts, roughly 1/3 of the "cost" is the rich keeping more of thier OWN money. the other 2/3 is taxpayer money being handed out. Even if you take away the actual tax cuts, you're still going to spending the other 1/3...but then, since the government never seems to cut spending, that means the government will simply take the tax cut to the rich and spend it, meaning the other 2/3, being the tax credits will still be owed...
This is a big tax increase...period...not as big as the taxes in Obamacare, but still significant...why doesn't Obama just go for closing loopholes in the tax laws? because over the years, the democrats have controlled the congress much more than the republicans, so they've made changes that benefit democrats more than republicans...maybe that's why rich democrats tend to make 9% more than their republican counterparts...or maybe it's just democrats cheating on thier taxes that makes up the difference.
The biggest lie in this fantasy ...
Submitted by Fredy on Tue, 07/10/2012 - 2:12am.
Is lumping Mitt Romney into the current Republican plan in the House and Senate.
Romney wants to return to the Reagan tax rates of the early 80's. This would have a top level of 28% with capital gains and dividends taxed at 15%.
You would at least think this idiot of a propagandist could get the simplest of facts strait!
Norah O'Donnell shows that
Submitted by ant on Tue, 07/10/2012 - 4:24am.
Norah O'Donnell shows that one can never be too dumb to be a traitor to The People.
We need to wake up and stop
Submitted by Dan The Man 2 on Tue, 07/10/2012 - 5:21am.
We need to wake up and stop spending more than we take in as revenue. Until we start doing this, the arguments are all fluff. They have no meaning.
Someone tell New York's
Submitted by ant on Tue, 07/10/2012 - 7:00am.
Someone tell New York's Bloomberg, I just decided that drinking less than 32 ozs. of soda makes one fatter.
Unfortunately, . . . .l
Submitted by Bourbeau on Tue, 07/10/2012 - 7:16am.
Nora is lacking a bit of brain matter between the ears.
It's the liberal marketing team..
Submitted by c5then on Tue, 07/10/2012 - 7:50am.
After all that is the central theme of the liberal ideology: The government supports the "average" person and gives you "stuff".
If the government has less money then there is less "stuff" to re-distribute. Since most of the "taxpayers" that they are talking to don't actually pay federal income tax, it has to be seen as a code word for tax refund recipients.
What they are saying is that if the tax rates stay the same, there will be approximately $85 billion less every year that the government has to redistribute as it sees fit.
They are speaking to the almost 50% of the electorate that don't actually pay any federal income tax, that the GOP wants to take away any pay increase that you might see in the next couple of years.
They don't care if people on blogs call them illogical or "retards" or whatever. They are focused on the serious goal of reelecting Obama and furthering socialism in this country. And just a heads up....they are pretty much succeeeding.
Madison and Jefferson and Franklin built a Republic - Roberts killed it!
Left-wing Fairy Tales
Submitted by minky on Tue, 07/10/2012 - 8:28am.
The Big 0 says: "...anybody making over $250,000 a year should go back to the income tax rates we were paying under Bill Clinton. Back when our economy created nearly 23 million new jobs, the biggest budget surplus in history, and plenty of millionaires to boot."
What a tired old talking point. The economy flourished under Bill Clinton for a whole variety of reasons. It was one of those times when all the various factors that can affect the economy were running smoothly enough to offer us a brief glimpse of the good times. Things would probably have gone much better with lower tax rates, but the left clings to the idea that it was all due to the magical tax rates of the Clinton years. If we would just duplicate those tax rates today, everything will be wonderful again.
Try as we might, we can't put the world right back in the same condition it was in "once upon a time".
Agree, completley, . .
Submitted by rickbren on Tue, 07/10/2012 - 8:36am.
. . . Barry says "Let's go back to Bubba's tax rates." Fine. Let's also go back to Bubba's spending levels. . .
Nora is horrified that
Submitted by billb on Tue, 07/10/2012 - 8:28am.
Nora is horrified that despite all the rhetoric from Wasserman Schultz about George Bush, "We are returning to the failed policies of the past"
I don't understand...
Submitted by almostacowboy on Tue, 07/10/2012 - 8:45am.
..all the hubbub about the London Olympics. Everyone should tune in to CBS and watch these mental gymnastics and logic contortionists.
Pleazzzzzzzzzzze
Submitted by donabernathy on Tue, 07/10/2012 - 10:06am.
Government work is hard work. Extorting Money from one group to give to another group ain't that easy. If Al Capone were alive today he'd explain just how hard it is.
roflmao
Pleazzzzzzzzzzze
Submitted by donabernathy on Tue, 07/10/2012 - 10:08am.
Government work is hard work. Extorting Money from one group to give to another group ain't that easy. If Al Capone were alive today he'd explain just how hard it is.
roflmao
A Proposed Romney Response
Submitted by libBuster on Tue, 07/10/2012 - 11:05am.
Romney has a simple response to all this:
More class warfare from the Divider in Chief of America. Never before has the Republic seen a leader who took such glee in setting Americans against each other for his own personal political power. The nature of the tax cut extension need not be discussed or even considered while Mr. Obama is in power. Within the first week of the Romney administration, the Bush Tax Cuts will be extended for four years. No further comment on Mr. Obama's ploy to set Americans against each other is needed. Instead we should focus on Mr. Obama's Four Years of Failure.
why...
Submitted by almostacowboy on Tue, 07/10/2012 - 11:11am.
..do they have to be "extended"? Why aren't they just "the tax rates"?
Good Point
Submitted by libBuster on Tue, 07/10/2012 - 11:24am.
Good point. Romney should choose the best wording. Romney and his people need to make the point that people need not worry -- a responsible adult is on the way who will make sure Americans are protected from governmental uncertainty.
I would also call Obama's veto threat today is a "childish temper tantrum".
Well, then, the solution is obvious
Submitted by CobraMan on Tue, 07/10/2012 - 11:22am.
If extending the tax cut will "cost" us, then the solution is obvious: raise all taxes to 100 percent and "save" the taxpayers trillions!
The Citizens of each State shall be entitled to all Privileges and Immunities of Citizens in the several States. The US Constitution
Unless you're a fetus. The US Supreme Court
Or Anwar al-Awlaki.
Exactly
Submitted by ant on Tue, 07/10/2012 - 4:59pm.
And since Nancy Pelousy thinks Un-employment Checks are the best economic stimulus you can get, we should ALL be on 'em. 100% of the people collecting unemployment but also paying 100% tax on same...for the Dims it's a win-win, for everyone else it's misery, not to mention a complete mindf____ so amazingly illogical that the Universe would probably implode.