http://link.brightcove.com/services/link/bcpid86195573/bclid212338097/bctid1414665553
Do Obama supporters realize that he is going to not only increase taxes on Dividends, cap gains, and just about everything else, but also get rid of the payroll tax cap? This means an additional 6.2% federal tax in income above $102K for employees AND employers. By the time he is done people making $250K will be paying a top marginal Federal tax rate of about 45%. Add in state tax and we are at over 50%.
If the current economic woes are not enough to push us in to a severe recession Obama's tax plan will certainly do the trick.
Takes investment out private hands and puts it in government's hands.
In essence he is the worst tax and spend liberal nightmare that fiscally conservative Americans have had to deal with in the last 40 years and yet all we hear from the media is "hope" and "yes we can". If people in the GOP understood what they were facing in Obama they would quit bickering about McCain and do whatever it took to get him elected.
Do Obama supporters realize that he is going to not only increase taxes on Dividends, cap gains, and just about everything else, but also get rid of the payroll tax cap? This means an additional 6.2% federal tax in income above $102K for employees AND employers. By the time he is done people making $250K will be paying a top marginal Federal tax rate of about 45%. Add in state tax and we are at over 50%.
If the current economic woes are not enough to push us in to a severe recession Obama's tax plan will certainly do the trick.
Takes investment out private hands and puts it in government's hands.
In essence he is the worst tax and spend liberal nightmare that fiscally conservative Americans have had to deal with in the last 40 years and yet all we hear from the media is "hope" and "yes we can". If people in the GOP understood what they were facing in Obama they would quit bickering about McCain and do whatever it took to get him elected.