Obama to announce increase in taxes for businesses and wealthy
- Thread starter MrDODGE
- Start date
I don't like taxes, but it's time for reality to set in for Democrats AND Republicans. Even under Reagan, the top tax bracket was 50% for the majority of his time in office, and that's nothing compared to the 91% from '51 to '63, most of which with a Republican president.
From 1917 to 2002, the top tax rate was at least 39% (the same rate the current administration proposes) for 74 years (86%), with the years preceding the Great Depression the most notable exception.
Given our current climate, even with a Republican in office, taxes would need to be raised at some point.
From 1917 to 2002, the top tax rate was at least 39% (the same rate the current administration proposes) for 74 years (86%), with the years preceding the Great Depression the most notable exception.
Given our current climate, even with a Republican in office, taxes would need to be raised at some point.
Well....This certainly solidifies the fact that ¨the US just has another lawyer with the podium¨....
The 10% consumption tax collected locally ....could account for low income individuals very easily....via local rebates on essentials....
.....................................................................
The bottom line is that a 10% consumption tax will raise far more revenue....even if they went to a 70% progressive rate....
A progressive rate on a diminishing base is a losing proposition....
.......................................................................
At some point when the pain threshold gets high enough....it would seem as if somebody would realize this....
Intelligence before the fact is far better than buying a fire truck after the building has burned to the ground....
Right now the building is on fire....and the lawyers inside are not aware of it....
The 10% consumption tax collected locally ....could account for low income individuals very easily....via local rebates on essentials....
.....................................................................
The bottom line is that a 10% consumption tax will raise far more revenue....even if they went to a 70% progressive rate....
A progressive rate on a diminishing base is a losing proposition....
.......................................................................
At some point when the pain threshold gets high enough....it would seem as if somebody would realize this....
Intelligence before the fact is far better than buying a fire truck after the building has burned to the ground....
Right now the building is on fire....and the lawyers inside are not aware of it....
I have come to the realization that 85% of wall street and this board want Obama to fail. I think for the most of you that you would rather see the country collapse as opposed to the end of trickle down economics. You all are entitled to your opinions, maybe we should bring Bush back. 1 month in and conservatives are already gunning for this guy it is insane.
I think the Gummint has EXACTLY WHAT IT WANTS!
The "new plan"...
1. Overtax [further] and PUNISH the wealthy, most productive, most successful, most ambitious.
2. Undertax further, the least successful, least productive, least ambitious and most abusive of the social system.
That way, there will be fewer to overtax and fewer of them to vote for "change". And there will be more to undertax who can vote against change.
All the current plan amounts to is taking from one group and giving to another... unitil the "haves" are tapped out and nobody has anything... except the Gummint, of course.
If NObama cared a CRAP about America, he'd be (1) incentivising everyone to produce as much as possible... by letting everyone keep a bigger portion of their earnings, and (2) adopting policies which would encourage GROWTH in America, not just Socialistic wealth redistribution.
How to do that? (1) Make America "business and tax friendly" by lowering taxes so foreign companies would come to America to build their goods... and thereby employing Americans who are out of work. And (2) Broadening the tax base as widely as possible.... like a national sales tax on most items with few exemptions. (Years ago I read that a sales tax would collect approximately $200B per year from the "underground"... those who operate in cash, don't file tax returns, etc. But if they had to pay the sales tax to buy things, they wouldn't be able to escape taxation to the degree they do today.)
Bottom Line... Gummint is pursuing DESTRUCTIVE policies rather than growth policies... At some point, the "haves" are going to say "SCREW IT".. "Why should I work and produce if the Gummint is going to tax it away".. "Why bother with going to medical school or law school if the Gummint is just going to impose punitive taxes on my earnings".... "Why should I bother to start and build a business, the Gummint is just goint to tax it all away"
AMERICA CANNOT AFFORD SOCIALISM!
The "new plan"...
1. Overtax [further] and PUNISH the wealthy, most productive, most successful, most ambitious.
2. Undertax further, the least successful, least productive, least ambitious and most abusive of the social system.
That way, there will be fewer to overtax and fewer of them to vote for "change". And there will be more to undertax who can vote against change.
All the current plan amounts to is taking from one group and giving to another... unitil the "haves" are tapped out and nobody has anything... except the Gummint, of course.
If NObama cared a CRAP about America, he'd be (1) incentivising everyone to produce as much as possible... by letting everyone keep a bigger portion of their earnings, and (2) adopting policies which would encourage GROWTH in America, not just Socialistic wealth redistribution.
How to do that? (1) Make America "business and tax friendly" by lowering taxes so foreign companies would come to America to build their goods... and thereby employing Americans who are out of work. And (2) Broadening the tax base as widely as possible.... like a national sales tax on most items with few exemptions. (Years ago I read that a sales tax would collect approximately $200B per year from the "underground"... those who operate in cash, don't file tax returns, etc. But if they had to pay the sales tax to buy things, they wouldn't be able to escape taxation to the degree they do today.)
Bottom Line... Gummint is pursuing DESTRUCTIVE policies rather than growth policies... At some point, the "haves" are going to say "SCREW IT".. "Why should I work and produce if the Gummint is going to tax it away".. "Why bother with going to medical school or law school if the Gummint is just going to impose punitive taxes on my earnings".... "Why should I bother to start and build a business, the Gummint is just goint to tax it all away"
AMERICA CANNOT AFFORD SOCIALISM!
Gnome.....
I think the Gummint has EXACTLY WHAT IT WANTS!
The "new plan"...
1. Overtax [further] and PUNISH the wealthy, most productive, most successful, most ambitious.
2. Undertax further, the least successful, least productive, least ambitious and most abusive of the social system.
That way, there will be fewer to tax and fewer of them to vote for "change". And there will be more to undertax who can vote against change.
All the current plan amounts to is taking from one group and giving to another... unitil the "haves" are tapped out and nobody has anything... except the Gummint, of course.
If NObama cared a CRAP about America, he'd be (1) incentivising everyone to produce as much as possible... by letting everyone keep a bigger portion of their earnings, and (2) adopting policies which would encourage GROWTH in America, not just Socialistic wealth redistribution.
How to do that? (1) Make America "business and tax friendly" by lowering taxes so foreign companies would come to America to build their goods... and thereby employing Americans who are out of work. And (2) Broadening the tax base as widely as possible.... like a national sales tax on most items with few exemptions. (Years ago I read that a sales tax would collect approximately $200B per year from the "underground"... those who operate in cash, don't file tax returns, etc. But if they had to pay the sales tax to buy things, they wouldn't be able to escape taxation to the degree they do today.)
Bottom Line... Gummint is persuing DESTRUCTIVE policies rather than growth policies... At some point, the "haves" are going to say "SCREW IT".. "Why should I work and produce if the Gummint is going to tax it away".. "Why bother with going to medical school or law school if the Gummint is just going to impose punitive taxes on my earnings".... "Why should I bother to start and build a business, the Gummint is just goint to tax it all away"
AMERICA CANNOT AFFORD SOCIALISM!
.........................................................................
Perfectly stated .....
I think the Gummint has EXACTLY WHAT IT WANTS!
The "new plan"...
1. Overtax [further] and PUNISH the wealthy, most productive, most successful, most ambitious.
2. Undertax further, the least successful, least productive, least ambitious and most abusive of the social system.
That way, there will be fewer to tax and fewer of them to vote for "change". And there will be more to undertax who can vote against change.
All the current plan amounts to is taking from one group and giving to another... unitil the "haves" are tapped out and nobody has anything... except the Gummint, of course.
If NObama cared a CRAP about America, he'd be (1) incentivising everyone to produce as much as possible... by letting everyone keep a bigger portion of their earnings, and (2) adopting policies which would encourage GROWTH in America, not just Socialistic wealth redistribution.
How to do that? (1) Make America "business and tax friendly" by lowering taxes so foreign companies would come to America to build their goods... and thereby employing Americans who are out of work. And (2) Broadening the tax base as widely as possible.... like a national sales tax on most items with few exemptions. (Years ago I read that a sales tax would collect approximately $200B per year from the "underground"... those who operate in cash, don't file tax returns, etc. But if they had to pay the sales tax to buy things, they wouldn't be able to escape taxation to the degree they do today.)
Bottom Line... Gummint is persuing DESTRUCTIVE policies rather than growth policies... At some point, the "haves" are going to say "SCREW IT".. "Why should I work and produce if the Gummint is going to tax it away".. "Why bother with going to medical school or law school if the Gummint is just going to impose punitive taxes on my earnings".... "Why should I bother to start and build a business, the Gummint is just goint to tax it all away"
AMERICA CANNOT AFFORD SOCIALISM!
.........................................................................
Perfectly stated .....