Posted on 02/28/2009 8:02:01 AM PST by MAD-AS-HELL
NEW YORK (Fortune) -- During the presidential campaign, Barack Obama tempered his pledge to substantially raise taxes for high earners with an important proviso: He'd simply restore rates to their levels during the Clinton Administration. The implication was that families in the upper brackets would see their total tax bite go back to the levels of the 1990s, but no higher.
Now, it sure looks like Obama is reneging on that promise. The burden will indeed go far higher than in the Clinton years via a technicality -- one that will come as a rude shock even to the taxpayers already braced for a soaking.
(Excerpt) Read more at money.cnn.com ...
Pray for a ballot box coup in '10 against BaCock and his dimwitted dems.
To Dems, six figure income means that the victim is making more than $45,000 a year. Apparently they’re counting the comma.
$9,999.99 could be 6 figures too, depending on your definition of “Change”.
The eliminated deductions add at least 2% on to the stated tax hikes.
And my instinct and brain tell me that the $250,000 bench mark WILL be lowered.
Leftist lunacy....
Obama allows the 2003 tax cuts to expire so that the federal income tax rates go back to the year 2000 income tax rates. Low income, middle income, and high income all have their taxes raised.
Then Obama raises the taxes of those making $250K or more. Now they get their taxes raised for a second time.
Don’t you know he works for the “American people” and not the “special interests” and the “powerful lobbyists?”
That’s today’s meme/strawman, anyways.
We’re all lobbyists now!
The article is a crock.
Babmi is a disaster for EVERYONE. In 92, Clinton put a huge tax on yachts thinking the rich would have to pay more.
Well, surprise, surprsie, the rich just stopped buying yachts and all the little people that made them lost EVERYTHING.
Rats never learn, the minor recession will be more prolonged and deeper because they can not give people incentives to work and produce.
http://www.weeklystandard.com/Content/Public/Articles/000/000/016/215bpfvr.asp
When Barack Obama met with TV anchors at a White House lunch last week, he assured them he likes being president. “And it turns out I’m very good at it,” he added.
Sticking a big ol’ fork right into his biggest donors...
They won’t soon forget...
In six months you will have trouble finding anyone who actually works for a living who will admit they voted for Obama, except for blacks, those employed in the government, academia or the media, and some union people.
70% seems to be a magic number.
While I’m glad to see CNN having an inkling of “getting it”, I find it laughable that they think people with an income of $250-500K have trouble saving up a couple of million for retirement. Many Americans had been saving up for college and retirement on far, far lower incomes - at least until their savings were pummeled by the Obama market crash. We’re all going to pay through the nose if Zero’s plans for us aren’t stopped.
I think he meant...
“95% of Americans (who don’t work) will NOT see their taxes increase under my administration...”
“...The other 5% (who don’t work) are republicans so we’ll tax ya’ll anyhow!”
I'm guessing over 50%, maybe 60%??
A lot of doom and gloom here at FR and maybe that is being realistic or pragmatic, but the true measuring stick will be the 2010 election; if there will be an uprising or possibly wide scale Chicagoland style voter fraud.
If the voting booth is taken away from us what will Americans do??
I hope all the “rich” people who voted for Hussein lose their shirts. If we go down, so do they, and yes, I will be happy to watch.
It will HAVE to be lowered well into the MIDDLE CLASS as that’s where the volume of tax slaves reside.
And to all the white, guilt-riddled LIMOSINE LIBERAL IDIOTS who voted for this incipient Hitler, I’ll borrow a phrase from Gordon Ramsey: “PISS OFF.” I have NO sympathy for you. I reserve my sympathys for my kids and grandkids who are stuck with the tab for the dough he’s handing to every marxist group in the country.
I call them HEN DOPES...
High Earners Now Dumping Obama’s Plan (of) European Socialism
This was already known and losers like George Lucas are just revealing what hypocrites they are when they realize that they willl have their pocket book affected.
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