Obama- The over hyped unproven theory.
- Thread starter NeoRio1
- Start date
JonBig do you have any aspiration to make any more money than your making now and if you do then would you like to pay extra taxes because you have the ability of making more money? Here is a great idea, punish those who succeed and reward the lazy.
Obama want's to raise the capital gains tax to 39% on the top 5%. That is simply class abuse. Take almost half of a successful persons money? Does that sound right or does it sound like there is a large amount of people who have voted ignorant politicians in to spoon feed them and give them what they want. No wonder the most unedecated, lazy, stupid and ignorant people vote for the party who is willing to shove money in their mouths because it would be a horror for these people to actually get out of their adolescent mindset.
Everyone likes to live a life of content and happiness. The only problem is that socialists take that life for granted. If their idea's were implemented at this countries beginning they would still be working on a farm. Except some other country or power would soon takeover and for all we know we could be under some dictator. Socialists are called that because outside of their happy social lives they have no ability to comprehend and understand the forces at work.
There really needs to be an IQ test in order to vote.
Obama want's to raise the capital gains tax to 39% on the top 5%. That is simply class abuse. Take almost half of a successful persons money? Does that sound right or does it sound like there is a large amount of people who have voted ignorant politicians in to spoon feed them and give them what they want. No wonder the most unedecated, lazy, stupid and ignorant people vote for the party who is willing to shove money in their mouths because it would be a horror for these people to actually get out of their adolescent mindset.
Everyone likes to live a life of content and happiness. The only problem is that socialists take that life for granted. If their idea's were implemented at this countries beginning they would still be working on a farm. Except some other country or power would soon takeover and for all we know we could be under some dictator. Socialists are called that because outside of their happy social lives they have no ability to comprehend and understand the forces at work.
There really needs to be an IQ test in order to vote.
Firstly, your facts are off.
" Capital Gains Rate: It's untrue that Obama is proposing a 28 percent capital gains tax rate. He said in an interview on CNBC that he favors raising the top rate on capital gains from its present 15 percent to 20 percent or more, but no higher than 28 percent"
http://www.factcheck.org/askfactcheck/would_obama_tax_my_profits_if_i.html
You make some good points, but please check all the information you hear...you will be astounded how much of it is false or misleading. The truth is I will likely be hit by Obama's tax plan, but its ok with me. You say he is punishing the top 5%, tell me was bush punishing the bottom 95% when the tax rates are so obviously in favor of the rich? Its interesting that so many people accuse Obama of income redistribution by raising taxes on the top 5%...is it any different than have a tax code that caters to the rich? Seeing as the top 5% hold 50% of the wealth, I would say the rich-favoring tax codes have redistributed the money very efficiently.
However, I don't want to get into a "who to tax" argument. I challenge you to set aside your ideals and look at where we stand as a country. We need money. We need it for energy independence, to boost our lagging education system, but most importantly we need it to start paying off the debt that will soon stifle our economy. Whether you agree with the war or not is not the issue (remember, put aside your ideals) the fact is that we now owe the rest of the world (and some countries that maybe arent so friendly) $10 trillion. The fiscally responsible thing to do is to start paying down the debt. I would love for a booming economy that is bringing in all sorts of revenue to pay for it, but we don't have that right now. The 95% and middle class is tapped out. Wages are stagnant, costs for everything are up, their largest asset is depreciating, inflation is a factor....they have no money. The other 50% of the wealth is held by people who are feeling the rough economic times too, but lets face it these people arent worried about where their next meal is going to come from. They are the only ones who have money to give. They have reaped the benefits of a rich favoring tax code, and now we are asking them to give a little back at a time when no one else can. The tax rates for them will still be less than they were under clinton. Soon the middle class will be back on its feet and ready to generate revenue of their own. Then we can reevaluate the tax code. I realize there are some very good reasons for the rich to pay less tax and am well aware of those reasons, however there are far more important things to consider right now.
The scary thing is you actually believe this.
The premise of your entire argument is false. You basically assume that the only way to free up resources for the government is to take every last cent remaining in private hands. How about reallocating the enormous amounts of money the government already takes? How about prioritizing? Instead, obama is proposing a mammouth expansion of government.
The idea the tax code favors the rich is equally ill-founded. About half the population pays income tax at all. Hint: it's not the top half. Another 25% or so pay next to nothing. Don't even get me started on all the illegals who feel no obligation to pay anything. The tax code is designed to punish success, to punish those who create jobs and to punish those hwo live responsibly and save for their children.
The premise of your entire argument is false. You basically assume that the only way to free up resources for the government is to take every last cent remaining in private hands.
Taking every last cent? By giving 95% of Americans a tax cut, that's taking every last cent? Sure we are raising taxes on a small percentage.... but considering how much these people are worth, and the fact that the tax hike is a modest one...you can hardly say we are "taking every last cent". The taxes will still be lower than they were in the 90's...you act like its unprecedented.
How about reallocating the enormous amounts of money the government already takes? How about prioritizing? Instead, obama is proposing a mammoth expansion of government.
Agreed, cutting spending on pointless government programs is crucial as well. I never said it wasn't. You really should do just the slightest bit of research..."prioritizing" is exactly what obama wants to do. He advocates a surgical removal of as much wasteful spending as possible.
Damn right some areas DO need bigger government. Thats right, I said it. Sure regulating financial markets will cost a lot, but imagine how much money our country would have saved had regulations been in place to curb the credit crisis. This crisis has cost us probably trillions...yet why do I get the feeling that had a bill been suggested by congress 4 years ago calling for 100 million dollars to help regulate the financial markets, you would have adamantly opposed it. Be honest, you would have...and now look where are.
The idea the tax code favors the rich is equally ill-founded. About half the population pays income tax at all. Hint: it's not the top half. Another 25% or so pay next to nothing. Don't even get me started on all the illegals who feel no obligation to pay anything. The tax code is designed to punish success, to punish those who create jobs and to punish those hwo live responsibly and save for their children.
Paying taxes is not punishment. The actual number is around 30%, not half (http://www.taxfoundation.org/research/show/207.html) and you will see that the vast majority of those people hardly make anything at all coupled with the fact that they receive the tax credits based on how many kids they have, etc. The fact that you believe the tax code doesn't favor the rich tells me that you simply don't know anyone that makes a lot of money. I've seen people make close to 500k, only to pay 5k in income tax. 66% of American corporations pay zero federal income tax. Anyways, the country's foundation isnt the poverty stricken bottom 30% who pay nothing and it isn't the top 5%. Its the middle class and small business owners. These are the people I would like to see fought for. These are hte people who would see their taxes LOWERED. Lower taxes!! Why do you oppose that? Those are the people who we as a country need to bolster to see our economy grow.
What's funny is that you seem to hate all taxes and any notion of them. Ok, fine. Do you realize that Obama is significantly lowering taxes for the vast majority and mccain is only slightly lowering them for the vast majority? Do you care only about the super rich?
"The Tax Policy Center estimates that over 10 years, McCain's tax proposals could increase the national debt by as much as $4.5 trillion with interest, while Obama's could add as much as $3.3 trillion"
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I think you've framed all of this properly. Now lets' see if I can give you the nail to hang this picture on. No correction will matter for the long term if the masses don't do a better job of responsible fiscal pruning. Regardless of whether or not the political nature to add more spending is altered.
