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Clinton Meets with Obama on Tax Plan

Posted: Dec 10, 2010

Not much on it yet - this was posted 11 minutes ago by Reuters:

"Former U.S. President Bill Clinton endorsed President Barack Obama's deal with Republicans to extend Bush-era tax cuts after the two men met at the White House on Friday.

"In my opinion this is a good bill, and I hope that my fellow Democrats will support it," Clinton said during a joint appearance with Obama in the White House press room.

;

It wa de ja vue (sp). Clinton held a press conference - Backwards Typist

[ In Reply To ..]
President Obama spoke first and then said he had to leave and meet his wife and left Clinton at the podium to speak and take questions. Clinton spoke for almost a half hour on a variety of items and took questions.

Really, really weird to see him behind the podium again.

Also, Sanders was speaking for 6 hours when I posted my question, and he's still speaking. Why is he wasting his time? There is no business in the Senate today and I don't think anyone is really there.

My first impression - RLee

[ In Reply To ..]
I was asking myself WHO was the president (Obama or Clinton). Then I realized it was 2010 - nuff said. What I found strange is Obama had to leave to attend a Christmas party, which left me asking myself another question - what are his priorities and it was obvious as he left Clinton to take questions. Then I asked myself again WHO was the president. Hmmm...

You are kidding, right? - sm

[ In Reply To ..]
"When the meeting between the two men ended just after 4:15 p.m. on Friday, virtually everyone in the West Wing was in the White House residence at the annual holiday party for the buildingâ��s overworked staff."

As much as I cannot stand Clinton..... - see message

[ In Reply To ..]
I have absolute zero tolerance for his policies. I was literally broke all the time. My taxes went up so high close to 40% was going out. Lived in a 1 bedroom mold-infested apartment. The day he left office was a day I rejoiced and felt hope for the first time in 8 years. No more living in poverty. Anyway....with that said, the funny thing is I feel better with him in charge. Especially after I heard that PO left him there to take care of things while he left to go party.

I remember it much - differently

[ In Reply To ..]
I don't remember income tax being the difference between whether I would be living in a moldy apartment, or a nonmoldy apartment, or on the street, or not at all. I do remember being a divorced mother with two young children, one of whom was disabled. I divorced my ex because he would not keep a job (among other things) and I was working as an MT in a hospital. My disabled child (who never got any government assistance of any kind)required many trips to the hospital and evaluations that took two summers, etc. I scheduled these things the best I could but was still on the verge of losing my job when out of heaven came the FMLA. I filled out some papers and was able to keep my job. I will never ever forget that day and how it saved me and my children from total ruin.

As for the tax rates, like I said, I don't remember thinking they were keeping me from having anything more than I did. Below is a table.

Doesn't look like much of a difference to me.

Taxes under CLINTON 1999 Taxes under BUSH 2008
Single making 30K - tax $3,157.50 Single making 30K - tax $2,756.25
Single making 50K - tax $7,262.50 Single making 50K - tax $6,606.25
Single making 75K - tax $14,262.50 Single making 75K - tax $12,856.25
Married making 60K - tax $6,585.00 Married making 60K - tax $5,512.50
Married making 75K - tax $9,426.50 Married making 75K - tax $7,762.50
Married making 125K - tax $23,426.50 Married making 125K - tax $19,462.50

Maybe it was because we lived in different areas? - see message

[ In Reply To ..]
I'm not sure where you live/lived. I lived in CA during both his 2 terms and the Bush terms. I voted for Clinton the first term. Not the second (learned my lesson). He imposed the largest tax increase I want to say in history but as I'm searching I cannot find anything that shows whether that is true or not. All I know is our taxes went up. We were in the 60K range and we paid around 43% in taxes, and on top of that, every time we filed taxes we ended up owing between 2000-3000 each year. Some years I worked directly with IRS and actually despite what most people think about them they were always very helpful to me. So after 8 years of this I was ready for a change. After Bush took office our taxes when down and for the first time since Reagan was president we actually started getting a refund. It was a huge difference for us. We were able to finally start saving some money and we took our first vacation in 10 years. Maybe we had to pay more because we didn't own a house, no kids, had an old used vehicle, no investments, no nothing. All I know is for 8 years I felt like we would never get out of the hole. On top of that cost of living was so high that all we could afford was a 1 bedroom apartment in a sleezy part of the town. It had mold growing in the corners and up the walls and we fighting off insect infestations. We could not afford anything else. 1 bedrooms during those days cost around $950. After Bush won we were able to move to a house and finally felt like human beings and not just a number.

I really could not stand Clinton while he was in office. It literally would make me nauseous to even look at him and Hillary. I actually thought the whole Monica incident was pretty funny, especially after I heard what Hillary was like. I didn't care about that. I was just fed up with being taxed so much we were almost out in the streets cos we couldn't hardly afford anything.

I've actually been trying to find out the good things of his presidency, but remembering what life was like for us during those years, I just don't know if I ever will find anything good. If anyone can list some good things I'd like to know them. I'm just not finding or can think of anything...besides your FMLA that is.

Perhaps different points in life - Clinton years were good

[ In Reply To ..]
During Clinton years, I had a small business and was able to write-off just about all my income, had money in savings, and paid off my house. Bush years, my business became unprofitable due to "vertical integration" of industry, my 401k savings were stolen due to the lack of Wall Street regulation, and when we moved to find different work, I had to remortgage my house, which has now lost value. Nostalgic for the good ol' Clinton days, for sure.

Yes, that could be. Also - I read

[ In Reply To ..]
that married couples earning over 41,000 got the highest percentage of the tax cuts, so that is probably part of it too.

I was single for part of the time and income was around 32,000, also two children. Living in Kentucky at the time also, I'm thinking state taxes were nowhere near California. Kentucky does have a lot of property tax, but I'm sure the cost of living was/is a lot less.

But, I still see that the difference in income tax for a married couple making 60,000 in 1999 and 2008 is roughly $1,000.00 (higher in 1999).

I don't know. I certainly believe what you are saying, I've just never heard anyone say anything near that before and am kind of shocked that anyone found there to be such a difference from Clinton to Bush.

I'm glad it worked out for you though, and I hope it continues.

Take care and Happy Holidays!

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