Obama to announce increase in taxes for businesses and wealthy

[QQQBALL]

Quote from Mvic:

I agree, definitely the lesser of several evils as far as taxes go. Makes far more sense to tax unproductive assets than productive work. The transfer of wealth also creates economic activity. Philosophically it sucks but practically it is less objectionable than taxing the product of ongoing work be it by an individual or a corporation.

There are many ways of reducing the impact of such a tax anyway so unless lot of loopholes are closed this will not end great inheritances.

I wonder if this isn't in part why Rogers moved out of the US, he probably sees this as a likely eventuality

unproductive assets

which are unproductive? the estate or my children?

 

[QQQBALL]

Quote from traderdragon2:

Enough said

ahh there are the unproductive assets - double the tax rate for govt workers? sure!

 

[smilingsynic]

Quote from skylr33:

Quote from smilingsynic:

Parents should pay their children if they expect them to work on the family business. If they don't, then they are exploiting their own children.

Why do the children "deserve" it? Because they share the same DNA as their parents?

I worked in my parents home growing up doing chores and stuff, so that makes me "deserving" of their property when they die? How absurd.

Anyone who wants or needs their parents' property, in my view, is a failure. There are few things more pathetic in life than a rich kid who sponges off their parents and lacks the cahones to go out there in the real world and stake their own claim.

I am amazed that a self-made trader could ever support abolishing the estate tax. I know this site is full of paper traders who have never made a dime trading, but, come on already.



As I said, I support higher estate taxes and LOWER INCOME TAXES because I value hard work, not handouts; and because taxing labor penalizes those who work and work hard.



How incredibly stupid you truly are!!!! Me and my parents have worked hard all our lives, and have built up a rather significant estate. I'll be damned if a bunch of liberal douche bag politicians will try taxing me in order to fulfill their communist agenda.
Actually, my parents are pretty smart, and know the bullshit games these asshole Demo"craps" will play with taxing everyone to death. So what they are doing is giving me small chunks of the estate right now, all in little increments at a time, so I won't get taxed on any of it!!! So here's one Obama hater that won't be contributing to his socialism spending spree. ~~~~ In fact, I'll be adding to my gun, and ammunition collection!!!

Gee, a right-wing terrorist in the making AND a tax cheat. Welcome to ET--this place is full of them. What'ya doing do--take out the president you hate?

You are a disgrace to this country.

I am embarrassed for you that you are so weak that you need your parents' wealth. I have already told my parents thanks but no thanks--I do not need it.

I am a man--I do not need an allowance from mommy and daddy. What are you?

 

[patchie]

Quote from traderdragon2:

Enough said

It would be nice to see an inflation line added in here to compare the cost of Goverment against a rise in inflation. The manufacturing line is similarly distorted as it does not factor in outsourcing labor or factory automation. As a nation we have moved away from manufacturing and into services like financials.

 

[jficquette]

Tried and true Democratic methods. Soak the "rich", gut the military and give money away to the "poor" to buy their votes.

 

[TGregg]

Quote from jficquette:

Tried and true Democratic methods. Soak the "rich", gut the military and give money away to the "poor" to buy their votes.

It got them in power, didn't it? It's a proven approach with a long history of gaining power. Heck, even the republicans tried it to some extent. The end game's not so hot and future generations will be hard pressed to rebuild liberty, but screw them (we are).

 

[fearless9]

Quote from TGregg:

It got them in power, didn't it? It's a proven approach with a long history of gaining power.

Quite right TG.
Elections are lost as much as won.
Take the case of 2008 US election.

The Republicans had lost the race with their strong desire for war at any price, with their inability to track down OBL despite governing the world's mightiest military and with their inability to grow the economy.

And so the election was really between the nation's first Woman and the nation's first non-white.

And now, the race for the White House 2012 has already been underway for one month.

regards
f9

 

[Landis82]

Quote from jficquette:

Tried and true Democratic methods. Soak the "rich", gut the military and give money away to the "poor" to buy their votes.

Once again your political bias BLINDS you to what is actually going on . . . and you show that you have NO IDEA what you are talking about.

Obama is requesting $82.8 Billion to fund operations in Iraq and Afghanistan through the fiscal year ending in September - - - a request that if fully funded will bring the total cost of the two campaigns in fiscal year 2009 to $148.7 billion, according to Pentagon officials.

The new figure is $13.1 billion higher than the $69.7 billion estimate for remaining FY-09 war costs that Defense Secretary Robert Gates sent lawmakers on Dec. 31, and would effectively allocate the full amount the Pentagon requested last fall before the Office of Management and Budget in December pared back the request.

 

[Mnphats]

Quote from smilingsynic:



I am embarrassed for you that you are so weak that you need your parents' wealth. I have already told my parents thanks but no thanks--I do not need it.

I am a man--I do not need an allowance from mommy and daddy. What are you?

While I most certainly agree with your premise. To each their own. I prefer to stay out of other peoples business, as should the government for the most part.

 

[traderswild]

exciting