Posted on 03/18/2009 8:52:55 PM PDT by Lorianne
President Obama told Californians during a campaign-style town hall meeting on Wednesday that rich people can afford to pay higher taxes in selling his budget plan as an investment in the nation's future.
Mr. Obama pushed back on people who say he is overtaxing the nation, saying his tax increases on families earning $250,000 or more a year are reverting to the tax system under former President Bill Clinton. The president added he will pay higher taxes himself as a result.
"These folks can afford it. They were rich back in the '90s," he said. "It's not like suddenly they're going to have to go to the poorhouse. But what that does is it allows us to pay for health care reform for a lot of people."
Going after a line of attack Republicans have used against him, Mr. Obama insisted, "I don't think that's unreasonable. I don't think that's socialism.
"If the middle class is working well, if working people are doing well, then everybody does well," he said. "That's the philosophy that we are pursuing in this budget; that's why I need your support."
On Thursday, Mr. Obama is scheduled to join Gov. Arnold Schwarzenegger - a Republican who supported the stimulus plan - for a second town hall meeting after a tour of an electric-vehicle plant in Pomona.
The president highlighted California's high unemployment and foreclosure rates but noted, thanks to the stimulus plan, a new hospital will be built at Camp Pendleton.
Mr. Obama portrayed himself as someone who understands hard work, sympathizing with an ex-convict who was laid off from his Toyota job and telling the crowd he knows they don't have the luxury of ignoring their own economic problems.
(Excerpt) Read more at washingtontimes.com ...
He doesn’t think it’s socialism. uh huh
But can the country “afford” Obama?
But can the country “afford” Obama?
Interesting theory. This explains why it’s poor and middle-class people who are constantly on the lookout for tax deductions and credits, invest in tax shelters, and hire the best tax accountants.
Why doesn’t he sell his Chicago mansion then. He can afford it. He’s a dope.
Ah, socialism is the hallmark of the obozo admin.
not when they’ve lost half their net worth due to Bambi’s negligent management of the economy they can’t. however, I was amazed this election, driving down the main boulevard of my town, seeing the number of wealthy idiots, many of whom have inherited wealth, with Democrat signs in front of their 100 year old piles of brick and stone and wondered..whether they really thought Bambi would let them keep that stuff and what they were smoking
ROFL.
As if the rich are just going to sit there and take it. They'll find all sorts of ways to avoid this new tax hike, causing the government to not get as much as it hoped, if anything at all.
The tax rates are going to be a LOT higher than the 90s, Barry. For one, he lied again about “nobody making under $250,000 will see a tax increase”. His cap and trade energy tax raises $2 trillion in taxes, mostly on lower & middle class people. Second, he is going to repeal a lot of deductions (specifically on charities and non-profits) that will raise the rate another 2% or so, and on top of that, he wants to eliminate the cap on Social Security taxes which will be a HUGE tax increase.
Another day, another lie for Barry.
Obammy neglects to mention that he intends to increase taxes on tobacco, gasoline, any and all carbon products such as coal, electricity, and every other thing he can possibly come up with which all add an additional tax burden on the incremental taxes heaped on “rich” people. The net effect will be make a lot of formerly “rich” people no longer “rich.” Then, he’ll have to increase tax rates for everyone to maintain his lavish style.
THE AUDACITY OF TRUTH ABOUT BARACK HUSSEIN OBAMA
BARACK HUSSEIN OBAMA IN HIS OWN WORDS
NOW WE KNOW WHAT A COMMUNITY ORGANIZER DOES
OBAMA, THE STOCK MARKET, AND ENERGY
THE AUDACITY OF TRUTH ABOUT BARACK HUSSEIN OBAMA'S UPBRINGING
They just lost 40% of their investments, and yet they can afford a tax hike.
How many of these "rich" have to continue to work because their retirement investments are no longer enough to allow them to retire?
OK, this is what Wiki thinks socialism is, in part - Oboe’s deal sounds like socialism to me:
Socialists mainly share the belief that capitalism unfairly concentrates power and wealth among a small segment of society that controls capital, creates an unequal society, and does not provide equal opportunities for everyone in society. Therefore socialists advocate the creation of a society in which wealth and power are distributed more evenly based on the amount of work expended in production, although there is considerable disagreement among socialists over how, and to what extent this could be achieved.
I am one of the evil rich, and I cannot afford it. I’m too busy sending my kids to private school to avoid the disaster the public schools have turned into. Then I will send them to college with no scholarship money (I’m rich, I can afford it) and be asked to send a couple of other kids to college as well through my taxes. I’m just into the “rich” category, and I have a newsflash for zero - I’m paying all I can afford and more. To pay my taxes this year, I will be working more, which will put me into an even higher bracket with less deductions, so I will have to work more to pay my taxes, etc. At some point atlas will shrug, because I physically cannot work enough to pay my tax burden.
Obama is breathing through his rear mouth again!
The “rich” don’t pay taxes, because their money is kept out of the reach of the tax man.
The poor pay all the taxes in the end, since every penny they make is spent on necessities.
And tax employer provided health insurance benefits
You’ve got to understand, “rich” to Obama means anybody who has more money than anybody else.
Every single wage earner is a target. Initially some more than most. But he will not stop until there is economic parity achieved by robbing from those who have achieved and giving it to those who haven’t.
This course will in turn, and very shortly, end our country’s role as a world leader. We will be on equal footing with other mediocre European countries. And this will make Lord Obama very, very happy.
Like all Communist-type leaders, Obama himself and his cronies will live in style. Because they deserve it for making the world a better place, and anyway, their rules don’t apply to them.
The ability to "afford" something cannot be a valid basis for determining whether an action is moral or rightful. If it were, most burglars and robbers should be released without charge. For the government to claim the right to steal on that basis, but to continue to prosecute burglars and robbers, is the vilest, most unconscionable hypocrisy imaginable!
Will he start with the Hollywood rich first? Hussein needs the gold in Sean Penns Oscar.
Well, I feel for you. I’m not in your bracket, but we make too much to get any financial aid for our two children who have already graduated college, as will be the case for our next two kids.
I work for a lot of Doctors and for the time you folks put in your hourly wage is not what most people think it is
Obama is just playing his class envy game. Its easy to get his followers to hate us because “it isn’t fair,” and we are “privileged,” and “profit unfairly.”
In the end, Obama may be doing us a favor, by giving us a much better focus, and motivation.
The guy’s a complete and utter narcissist. He “doesn’t think it’s socialism” like that’s the last word! Well, Zero, it IS!!!
Also, doesn’t he realize that the new hospital built on Camp Pendleton will be built by illegals and employ military doctors and nurses when it’s complete?
What a fool!
I think conservatives just need to maintain that confiscating 40% of ANYBODY’s income is highly IMMORAL. Accuse the dems of IMMORAL behavior. It basically turns our government into a huge thief.
We can’t any longer abide this notion that somehow it is immoral for anyone to want to keep hold of what they have worked for.
So just who will be creating all those jobs Bambi syas he’s gonna create?!!
Some one should ask him if he will make sure that everyone in his administration will be paying this greater tax burden. Several of them haven’t in the past...
not to mention working nights, holidays, weekends, kids soccer games and dance recitals. I’m at work when most of those I am supporting by my taxes are at home enjoying their families. I wouldn’t mind so much if I got to keep what I make. I don’t know what is going to happen, but if Obama has his way, the country may find itself with a lot of the top producers on permanent vacation. I have always wanted to open that little quilt shop, and when my kids are educated, or if we get socialized medicine, I just may. Of course the drop in income will take me out of the “rich” category, but I’m OK with that. I wonder what the government will do to replace us.
And bleeding heart dibs called President Bush "king George."
America... was nice knowing you... you had one hell of a run... maybe in a little less than 4 years "O" will be made to take early retirement.
And of course he'll make sure that at least 33% of the workers are non-americans so as not to 'discriminate' against anyone seeking a job.
While reading the comments, I was just about to post why it’s being called socialism and not Marxism when I came to your post.
I guess to whomever, socialism is more P.C. and we don’t want to offend. (/sarc)
And malpractice insurance is crazy and record keeping This surgeon i know is gone from 5 in the morning till almost 10 at night 6 days a week and he is no kid
hmmm... let’s see.
the top 5% of earners are about 2.5% of the population... or about 7m people. if you jacked up their taxes to grab an additional $10,000 per taxpayer.. that’d only be an additional $70b (what’s that supposed to pay? how high are these taxes going to go??)
instead, if you tax EVERY American, regardless of their income level, an additional 5%... that would be about an extra $2,000 per person on average for all 140m tax payers...
which would result in an additional $280 billion per year
(don’t worry, that evil rich guy making $10m/yr would pay an extra $500k... and the guy making $25k/yr would pay an extra $1250/yr)
I recently met a man who had been extremely successful in the business world. He sold his company for a princely sum and made reasonable investments. He counted himself wealthy enough to retire. That was before everything crashed hard last year. Now, he's selling insurance to keep food on his table. The investments are mostly wiped out. He's rejoined the rest of us as a worker bee trying to make ends meet.
You need to define those terms better. The "rich" you speak about are those with sufficient wealth that they have no need to work and their passive income is carefully managed to minimize the tax consequences.
The "poor" are really those who must EARN income and are subject to income and payroll taxes. The income tax is designed to steal so much that most people can never graduate into the truly "wealthy" asset range that allows them to option to no longer have to earn a living.
I hope everyone that gets hit with the added tax fires 10 employees for every $1000 in additional taxes!
They can also afford to relocate. And they can take their businesses with them. Easily.
"From each according to his ability, to each according to his need."
Where have we heard that before my friends? That's right, that fun-loving guy Karl Marx. Is there anyone on the planet that doesn't think Obama is a socialist? Obama is a serious threat to America as a free society, he is bent on turning us into a socialist state.
I guess technically its Marxism - from those based on ability, to those based on need.
“doesn’t he realize that the new hospital built on Camp Pendleton will be built by illegals”
They check legal status of contractors employees on Pendleton.
You bet. I ditched San Diego, CA for Pocatello, ID. The cost of living is much lower. My house is nicer. I work from my home office. I work for exactly the same employer, but with Idaho state taxes and cost of living. It's actually less expensive for my employer too.
I was being sarcastic!
There is a key difference. Those will ability may chose not to exercise the full range of that ability when the rewards are confiscated. They may chose a much less capable profile. They might even transform into slothful, "needy" types to give the virtual "finger" to the tyrannical government.
This is laughable. As far as I can tell, he's never worked a day in his life.
I think he's implying a 100% TAX on everything over a certain amount!!
So if 0Bama is planning a 100% tax of anyone earing over $250k then every penny over the $250K goes into 0Bama's cluthes.
Also if your invested a million dollars in the stock market and you earned $800k gross then you can kiss the $550k good bye, after all 0Bama has to support all those millions of faithful Acorn workers and other bums.
Yesterday being St. Patrick Day there were 2 parties held there.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.