New Taxes, Brought to You by the ACA:

[DC Tom]

Reading an EII post is like having a cartoon character open a closet that is so full, the door is about to burst, and suddenly being buried in a pile of **** falling out of the closet.

 

It's predictable, stupid, and just a mess of ****.

 

Don't blame him. The problem isn't EII's posts. The problem is you're reading them, dumbass.

[Doc]

With respect, he hasn't. I lived with him as my governor. I was then, and still am, a fan of the guy personally. He talked about it often as being a model that would and SHOULD be used nationally. He has no ground to stand on with regards to ACA -- which is what Santorum (correctly) warned would happen.

 

Will it have a huge effect? I don't know. But to say it will have little to no effect on Romney's campaign is underselling it I think. It's a hugely divisive issue that both candidates support/supported. Obama stuck to his guns on it and made it law, Romney backpedaled away from it to shore up his base. I think he would have been better off embracing it from a purely political perspective (thus giving Obama no where to go with it). But by backing away from it, he's opened himself up to unnecessary attacks now.

Despite what Romney said about RomneyCare being the model for American (he can "evolve" and say it hasn't been shown that it reduces costs), I don't see why Barry would bring up Obamacare, when the majority of Americans didn't want, and still don't want it even after SCOTUS' ruling.

Edited July 3, 2012 by Doc

[Dante]

Santorum called it. Maybe the only thing during the whole race he was correct about.

You can certainly hope.

[TakeYouToTasker]

Now take raising taxes 300% on dividend paying stocks. Take your Policeman, Fireman, or School Teacher that make $70,000 a year. Got a wife, kids, mortgage payment, car payments, school tuition, insurance, ect. They don't have the luxury of purchasing dividend paying stocks. Do you really expect them to feel sorry for the guy making well into the 6 figure range with enough disposable income to purchase dividend paying stocks because he got a tax increase? You know what there response usually is "that's investing"

 

From the Wall Street Journal

 

IRS data show that retirees and near-retirees who depend on dividend income would be hit especially hard. Almost three of four dividend payments go to those over the age of 55, and more than half go to those older than 65, according to IRS data.

 

But all American shareholders would lose. Higher dividend and capital gains taxes make stocks less valuable. A share of stock is worth the discounted present value of the future earnings stream after taxes. Stock prices would fall over time to adjust to the new after-tax rate of return. And if investors become convinced later this year that dividend and capital gains taxes are going way up on January 1, some investors are likely to sell shares ahead of paying these higher rates.

 

The question is how this helps anyone. According to the Investment Company Institute, about 51% of adults own stock directly or through mutual funds, which is more than 100 million shareholders. Tens of millions more own stocks through pension funds. Why would the White House endorse a policy that will make these households poorer?

 

Seldom has there been a clearer example of a policy that is supposed to soak the rich but will drench almost all American families.

[CosmicBills]

Despite what Romney said about RomneyCare being the model for American (he can "evolve" and say it hasn't been shown that it reduces costs), I don't see why Barry would bring up Obamacare, when the majority of Americans didn't want, and still don't want it even after SCOTUS' ruling.

Sure he can, but it'll ring false. And again open him up to more attacks than he'll silence. If he were smart he'd actually throw his weight behind it because, as you said, Health care isn't going to win or lose the election. The economy will. And if people wanted to call him out for supporting his own plan, then at least he can take the "sticking to my principles" route and come off as less of a panderer (than both he and Obama appear to be currently) in the eyes of the swing voters.

 

You can certainly hope.

I can certainly hope what? That Santorum was only right about this one thing during the primaries? I'm pretty sure even God agrees with me on that one. The man was a clusterfu*k of a human being.

 

Actually I hope Romney does offer a fight on healthcare that goes beyond partisan rhetoric. If nothing else it would help move the conversation forward in the country rather than letting it fester. He won't do this of course because he can't ... but I'd love to see it. It'd be ballsy.

[Chef Jim]

From the Wall Street Journal

 

 

 

This was my thoughts as to why the market rose after Bush lowered the dividend rate from 20% to 15%. Dividend paying stocks became more attractive for income than bonds which were taxed as ordinary income. This is just going to be bad.

[Doc]

Sure he can, but it'll ring false. And again open him up to more attacks than he'll silence. If he were smart he'd actually throw his weight behind it because, as you said, Health care isn't going to win or lose the election. The economy will. And if people wanted to call him out for supporting his own plan, then at least he can take the "sticking to my principles" route and come off as less of a panderer (than both he and Obama appear to be currently) in the eyes of the swing voters.

It will ring like a death knell.

 

"I passed historic legislation with the PPACA."

 

"But Mr. President, don't most Americans oppose Obamacare? Didn't they oppose it before you railroaded it through Congress? And what about all the jobs that have been lost since SCOTUS ruled that it was Constitutional because the penalty is really a TAX?"

 

"Well, you passed Romneycare in Massachusetts. You said that it was a model for the U.S."

 

"It didn't prove to lower costs appreciably. But people in Massachusetts liked it before and still like it, unlike Obamacare."

 

"You also said the penalty under Romneycare wasn't a tax."

 

"It wasn't a tax. Is the Obamacare penalty a tax or not?"

 

"No, it's not."

 

"Then SCOTUS rendered an incorrect decision and it should have been invalidated, is that what you're saying?"

 

"No, uh, yes, uh...SCOTUS punched above their weight class..."

 

Like I said, there is no way that bringing-up Obamacare is a good move for Barry. Actually if I'm Romney, I bring it up for the reasons intimated in the above hypothetical exchange. And talk about how I scrap Obamacare and create a new bill that has the stuff people like.

[TakeYouToTasker]

This was my thoughts as to why the market rose after Bush lowered the dividend rate from 20% to 15%. Dividend paying stocks became more attractive for income than bonds which were taxed as ordinary income. This is just going to be bad.

This is true in an absolute sense: money will always go where it is best treated.

[tomato can]

This is true in an absolute sense: money will always go where it is best treated.

 

 

Yeah money sure does make its way into the hands of some bad people

Edited July 5, 2012 by tomato can

[3rdnlng]

Yeah money sure does make its way into the hands of some bad people

 

I guess you have no understanding of basic economics.

[tomato can]

I guess you have no understanding of basic economics.

 

 

I was just pulling his leg.

Edited July 5, 2012 by tomato can

[3rdnlng]

I was just pulling his leg.

 

Fair enough. We'll argue another day. Happy 4th.

[tomato can]

Fair enough. We'll argue another day. Happy 4th.

 

 

Sounds good Happy 4th to you as well!

[UConn James]

With respect, he hasn't. I lived with him as my governor. I was then, and still am, a fan of the guy personally. He talked about it often as being a model that would and SHOULD be used nationally. He has no ground to stand on with regards to ACA -- which is what Santorum (correctly) warned would happen.

 

Care to provide a link to these instances? Should be easy since they're so numerous....

 

I live in NE CT and have always watched Boston news via antenna. I never saw Romney say that the Mass plan should be used nationally. He always said it shouldn't and can't because of basic differences of demographics, infrastructure, geography, income, etc.

 

Granted that he said parts of the Mass law could be used in federal legislation. Parts is parts. Hey, my laptop and digital camera have an SD card slot; that doesn't mean my camera sh/could have a quad-core and surf the Internet. Not NEARLY the same as giving it steroids, adding in ginormous tax increases, creating another massive bureaucracy in 2,700 pages that no one read, out-and-out bribing senators, and adopting it.

 

The USAToday op-ed libs like to link to doesn't say what they want to think it says.

[Nanker]

If taxing dividend income at regular income levels is such a great idea that all governments seem to love because it'll give them more money to spend and it "will only impact the rich", then why don't they stop issuing tax free municipal bonds? What? They'd have to compete in the marketplace for evil investor money? Think they'd have a harder time selling and would need to raise their interest rates?

[Doc]

Care to provide a link to these instances? Should be easy since they're so numerous....

 

I live in NE CT and have always watched Boston news via antenna. I never saw Romney say that the Mass plan should be used nationally. He always said it shouldn't and can't because of basic differences of demographics, infrastructure, geography, income, etc.

 

Granted that he said parts of the Mass law could be used in federal legislation. Parts is parts. Hey, my laptop and digital camera have an SD card slot; that doesn't mean my camera sh/could have a quad-core and surf the Internet. Not NEARLY the same as giving it steroids, adding in ginormous tax increases, creating another massive bureaucracy in 2,700 pages that no one read, out-and-out bribing senators, and adopting it.

 

The USAToday op-ed libs like to link to doesn't say what they want to think it says.

Even if he did say it was a model for the country, that was before it was implemented. All he has to do is say it didn't prove to be as effective as he hoped it would be, but that the residents of Mass are happy with what they wanted to adopt.

 

And I love how Romney is saying that the Obamacare penalty is indeed a tax, because SCOTUS ruled it was one, otherwise it wouldn't have been ruled Constitutional. He's got Barry over a barrel on that one.

[B-Man]

I.R.S.

 

.

[fjl2nd]

Even health reform critics say: Quit repeal talk

 

NEW YORK (CNNMoney) -- The Supreme Court's decision on health reform brought a sigh of relief from small businesses. Whether they love or hate the new rules, they like certainty.

 

They could draw up business plans for next year. They could choose to hire or not.

 

Now, talk of repeal by Republicans in Congress and presidential candidate Mitt Romney is causing concern.

 

Until recently, Dan Martin had little positive to say about President Obama's health reform law. Although his tiny San Diego tech firm, IFX, already provides employees with health insurance, he worried the law would unleash burdensome regulations.

 

Then he discovered the law brings no added rules to companies with fewer than 50 employees, and gives them a new option to do comparison shopping for health insurance on state exchanges starting in 2014.

 

He's still concerned about increased government intervention. But he's more worried that the nation's leaders will keep changing the rules of the game.

 

"As a business owner, I can make decisions based on knowing what I'm dealing with -- good or bad. I can suck it up and map out my pricing strategy," Martin said. "Being in limbo is the worst thing to be in. I can't build my business strategy on the possibility the law could be rescinded."

 

Looks like talking health care is going to be a big LOSER for the Romney campaign. He's taken a hit this last week and could get worse with a better jobs report tomorrow. I think he will be picking his VP very very soon.

[Rob's House]

Even health reform critics say: Quit repeal talk

 

 

 

Looks like talking health care is going to be a big LOSER for the Romney campaign. He's taken a hit this last week and could get worse with a better jobs report tomorrow. I think he will be picking his VP very very soon.

Shhh, you're going to spoil it for your side. They've been scoffing at the idea that the uncertainty caused by Obama's Jeff Spicoli version of politics has been hamstringing the economy.

[fjl2nd]

Shhh, you're going to spoil it for your side. They've been scoffing at the idea that the uncertainty caused by Obama's Jeff Spicoli version of politics has been hamstringing the economy.

 

I would actually agree to a point that uncertainty with certain things is hurting the economy a bit. I wish congress would just sit down right now and extend the current tax rates and increase the debt ceiling so we can move on from that argument.

 

But, that would never happen with this Congress.