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Keyword: taxtherich

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  • The Obama Economy Stinks and It's Going to Get a Lot Worse

    03/29/2014 6:01:46 AM PDT · by Kaslin · 65 replies
    Townhall.com ^ | March 29, 2014 | Donald Lambro
    WASHINGTON - The news media was ecstatic when the government said in January that the economy grew by 3.2 percent in the last three months of 2013. It was convincing proof, they said on the nightly news, that the economy had finally recovered from its chronic lethargy. But according to a revised estimate released Thursday by the U.S. Commerce Department's Bureau of Economic Analysis, that 3.2 percent figure was a wild exaggeration. The U.S. gross domestic product (GDP), the broadest measure of our country's entire economic output, grew no more than 2.6 percent in the fourth quarter -- a pitifully...
  • EU nations agree on rules to fight tax evasion (tax avoidance actually)

    03/20/2014 5:43:47 PM PDT · by Olog-hai · 4 replies
    Associated Press ^ | Mar 20, 2014 8:31 PM EDT | Raf Casert
    European Union nations on Thursday agreed on a sweeping policy to fight tax evasion after tiny Luxembourg dropped its reservations to new rules which render its secretive banking culture more transparent. Luxembourg Prime Minister Xavier Bettel confirmed at Thursday’s summit of EU leaders “the willingness of the government to take that road,” a key step to scrap the banking secrecy for foreigners. […] The legislation proposes an EU-wide automatic exchange of data on bank deposits to allow governments to identify and pursue tax evaders with foreign accounts on home soil. Van Rompuy said it would “close down loopholes, promote automatic...
  • Obama seeks deal, proposes cuts to Social Security

    04/06/2013 1:10:26 AM PDT · by Olog-hai · 46 replies
    Associated Press ^ | Apr. 5, 2013 5:40 PM EDT | Jim Kuhnhenn and Andrew Taylor
    Seeking an elusive middle ground, President Barack Obama is proposing a 2014 budget that embraces tax increases abhorred by Republicans as well as reductions, loathed by liberals, in the growth of Social Security and other benefit programs. The plan, if ever enacted, could touch almost all Americans. The rich would see tax increases, the poor and the elderly would get smaller annual increases in their benefits, and middle income taxpayers would slip into higher tax brackets despite Obama’s repeated vows not to add to the tax burden of the middle class. His proposed changes, once phased in, would mean a...
  • Another Tax-the-Rich Plan Introduced in Congress

    03/08/2013 9:59:55 AM PST · by Olog-hai · 24 replies
    Cybercast News Service ^ | March 8, 2013 | Susan Jones
    Congressional liberals aren’t done taxing wealthy Americans. On Thursday, Sens. Bernie Sanders (I-Vt.) and Rep. Peter DeFazio (D-Ore.) introduced the Keeping Social Security Promises Act, which asks the wealthiest Americans to “pay their fair share into the fund.” “The people on top are doing phenomenally well,” Sanders told a news conference on Thursday. “It is time to ask them to help us, in this case with making sure Social Security is there for our kids and grandchildren.” The bill would require those with yearly incomes of $250,000 or more to pay the same 6.2 percent payroll tax that is currently...
  • Ben Carson: US Like Ancient Rome; Obama Not My Target

    02/09/2013 6:20:36 AM PST · by KeyLargo · 58 replies
    Newsmax ^ | Feb 8, 2013
    Newsmax Ben Carson: US Like Ancient Rome; Obama Not My Target Friday, February 8, 2013 10:05 PM World-renown pediatric neurosurgeon Dr. Ben Carson told conservative radio and television host Armstrong Williams on Friday that his attacks on the nation’s ills in his speech at the National Prayer Breakfast this week were not directed at President Barack Obama. In his first interview since upstaging the president at the event on Thursday, Carson, director of pediatric neurosurgery at Johns Hopkins University in Baltimore said his comments were “directed at the situation that is going on in our nation and how we can...
  • High Taxes Cripple Hawaii’s Economic Growth

    01/28/2013 7:23:25 PM PST · by Olog-hai · 9 replies
    Hawaii Reporter ^ | Monday, January 28th, 2013 | Lowell Kalapa
    In kicking the proverbial can down the road, Congressional leaders acquiesced to the demand that wealthier Americans pay higher taxes. The higher taxes came in the form of a higher maximum tax rate on those individuals making more than $400,000 and the loss of the favorable tax treatment accorded dividend and capital gains income. Such a strategy pandered to the majority of Americans who don’t believe they are “rich,” but fall into the great “middle class” which the politicians claimed they were protecting. In the meantime, those very politicians have deferred dealing with the real issue that is out of...
  • Pelosi suggests top earners pay even more in taxes

    01/06/2013 8:04:42 AM PST · by Olog-hai · 16 replies
    Associated Press ^ | Jan 6, 2013 9:01 AM EST
    House Democratic leader Nancy Pelosi isn’t ruling out pushing for upper-income earners to pay more even after the “fiscal cliff” deal that raised their taxes. … The former House speaker also says the current Republican Party isn’t the “Grand Old Party that did so many things for America that commanded so much respect.” …
  • Clifftastrophe: How the GOP Raised Taxes and Fed Obama’s Spending Addiction

    01/04/2013 3:46:45 PM PST · by Kaslin · 18 replies
    Townhall.com ^ | January 4, 2013 | Crystal Wright
    Republicans in Congress screwed up big time in voting for President Barack Obama’s tax hike on Americans. All in the name of letting Obama “have his way” in sticking it to the rich, the deal to avert the country’s cliff dive doesn’t do anything but stall the country’s fall for another two months. Republicans, yes, REPUBLICANS, voted for the first time since 1991 to raise taxes on Americans, a lot of taxes and postponed dealing with the $1.2 trillion sequester, cuts to government spending, until February 2013. There are no government cuts in this bill, making it nothing more than...
  • Obama's Thug America

    01/02/2013 7:04:08 AM PST · by Kaslin · 14 replies
    Townhall.com ^ | January 2, 2013 | Ben Shapiro
    Progressivism in America has always been a thuggish ideology. It rests on the notion that laws require no evidence to support their implementation, that intentions are all that matter and that those who oppose "change" of the sort progressives like are morally deficient. Progressivism requires Americans to separate off certain groups in American life as evil -- the rich ("greedy!"), gun owners ("hooligans!"), traditionally religious people ("sexists!"), Constitutional government advocates ("bigots!"). It requires that certain Americans be cast as good -- racial and ethnic minorities, low income earners and women ("victimized!"), irreligious people ("rationalists!") and big government advocates ("experts!"). Progressivism...
  • Obama's Tax Evaders of the Year

    01/02/2013 4:04:40 AM PST · by Kaslin · 3 replies
    Townhall.com ^ | January 2, 2013 | Michelle Malkin
    President Obama will kick off the new year the same way that he kicked off the old year: by demanding that the wealthy pay their "fair share" in taxes. But while millions of small-business owners, struggling entrepreneurs, inventors and investors brace for a double whammy of fiscal cliff tax hikes and new Obamacare taxes, the class-warrior in chief's richest pals are getting a pass. It's a Golden Pass for liberal millionaires and billionaires who support higher Obama taxes for everyone but themselves. Meet the Democratic tax evaders of the year. -- Google. The left-wing Internet giant provided Silicon Valley's biggest...
  • Tax Deal Finalized

    12/31/2012 12:36:48 PM PST · by Ron C. · 79 replies
    NRO ^ | December 31, 2012 | Robert Costa
    Senior Senate Republican aides tell NRO that the tax side of the fiscal-cliff deal has been finalized. Here’s a sketch of the framework: — Current tax rates would be permanently extended for singles making $400,000 or below, and permanently extended for couples making $450,000 or below — For singles, capital gains and dividends of $400,000 or below would be permanently taxed at 15 percent; capital gains and dividends above $400,000 would be permanently taxed at 20 percent
  • Rep. Van Hollen: Boehner Has Given “Veto Power” to “Extreme” Tea Party

    12/28/2012 10:42:14 PM PST · by Olog-hai · 34 replies
    Cybercast News Service ^ | December 28, 2012 | Eric Scheiner
    Rep. Chris Van Hollen (D-Md.) told a crowd gathered outside the U.S. Capitol on Friday that House Speaker John Boehner (R-Ohio) has given “veto power to the most extreme members of the Tea Party caucus.” Van Hollen called on the House to vote on a Senate measure that would raise taxes on individuals making more than $200,000 in order to avoid the fiscal cliff. The Democrat claimed that the Republican Boehner will not call for the vote because of the Tea Party caucus …
  • They Never Say "Tax the Successful"

    12/17/2012 3:55:50 AM PST · by Kaslin · 12 replies
    Townhall.com ^ | December 17, 2012 | Kevin Glass
    Comedian Adam Carolla has never been one to censor what comes out of his mouth. The gift of gab took him from humble beginnings in economically destitute North Hollywood to dizzying heights inthe entertainment industry, where he could afford to move a few miles away. It's a story of hard work and success that comes through in his recent book Not Taco Bell Material, a chaotic tour that takes readers from Carolla's early years to how he finally found his calling - and his success. Carolla's disdain for the politically-correct culture of sensitivity has made him an unlikely but powerful...
  • Taxman to Middle Class: 'Bend Over'

    12/13/2012 4:56:27 AM PST · by Kaslin · 22 replies
    Townhall.com ^ | December 13, 2012 | Larry Elder
    President Barack Obama in 2008, and again during the 2012 election, promised absolutely, positively no tax hikes on the middle class. The rich, however, must pay more: "It's not me being stubborn, it's not me being partisan -- it's just a matter of math." How does Obama intend to pay for our cradle-to-grave welfare state? Why, by charging the dastardly "millionaires and billionaires" who "can afford to pay a little bit more." No more extending the Bush-era tax rates for the rich. To do so, Obama tells us, would "cost" $700 billion -- over 10 years. So this "break" for...
  • Tax Rich Liberals

    12/13/2012 4:08:23 AM PST · by Kaslin · 19 replies
    Townhall.com ^ | December 12, 2012 | Ann Coulter
    Republicans have been forced into a Hobson's choice of either letting the Bush tax cuts expire for everyone or agreeing to a tax hike on the top 2 percent of income earners (not to be confused with "the rich," who have already made, inherited or married their money). If Republicans object to the Democrats' hitting job creators with a tax hike, three things will happen: Taxes will go up for everyone; Republicans will be seen as the "party of the rich"; and the inevitable economic collapse will be blamed on Republicans. If Democrats were merely trying to raise taxes on...
  • Obama's Cronies Shield Themselves From His Higher 2013 Tax on Dividends

    12/12/2012 7:00:40 AM PST · by Kaslin · 20 replies
    Townhall.com ^ | December 12, 2012 | Donald Lambro
    WASHINGTON - Did you see the story about Costco borrowing $3.5 billion to pay a special $7 a share dividend to its stockholders before year's end to avoid being hit by President Obama's higher tax on investors? What makes this story especially juicy is that it reveals how Obama's fat cat supporters, who bankrolled his bid for a second term and embraced his proposed tax increases, have taken steps to shield themselves from the president's "tax the rich" fiscal folly. The tax avoidance maneuver, which Forbes magazine calls "a six-year advance on the company's current annual dividend of $1.10 per...
  • Welcome to the Thugocracy

    12/12/2012 6:29:53 AM PST · by Kaslin · 9 replies
    Townhall.com ^ | December 12, 2012 | Ben Shapiro
    "I'm in the top two percent," said Peter Schiff, CEO of Euro Pacific Capital, this week on CNBC. "Right now, I'm paying 45 percent of my total income in income taxes ... You tell me, what's fair about that when medieval serfs pay 25 percent, I'm paying half? I don't care what the majority voted to do, they don't have a right to steal my money just because they vote for it." But according to most Americans, they do. And that's the problem. As America racks up more debt than God has ever seen on this earth, Barack Obama prepares...
  • Google saves $2B in taxes by sheltering $10B in revenue in Bermuda

    12/10/2012 9:18:06 AM PST · by Obadiah · 16 replies
    CNET ^ | 12/10/2012 | Shara Tibken
    Google avoided about $2 billion in global income taxes last year by shifting $9.8 billion in revenue into a Bermuda shell company, Bloomberg reported. That level is almost double the total from three years ago, Bloomberg said, citing a Nov. 21 regulatory filing by a Google subsidiary in the Netherlands. And it allowed Google to cut its overall tax rate almost in half. Google's action -- moving about 80 percent of its total pretax profit from 2011 to tax-free Bermuda -- isn't illegal. On the contrary, many companies have taken similar steps in recent years to avoid paying steep taxes....
  • Hey, Fat Cat Unions: Pay Your "Fair Share"

    12/07/2012 4:27:04 AM PST · by Kaslin · 4 replies
    Townhall.com ^ | December 7, 2012 | Michelle Malkin
    Message for wealth-bashing millionaire actor Ed Asner: Man up and take responsibility for lying to America's schoolchildren. Confronted by a producer for Fox News Channel's "The Sean Hannity Show" this week, the left-wing celebrity claimed he couldn't remember "a thing (he) said" on a vile propaganda video produced and published by the California Federation of Teachers. Asner narrated the unforgettable eight-minute anti-capitalist screed geared toward children. Think Occupy Wall Street meets Sesame Street. "Things go downhill in a happy and prosperous land after the rich decide they don't want to pay taxes anymore," Asner warbles in a folksy grandpa voice....
  • Rich Lefties and Their Taxes

    12/06/2012 5:55:33 AM PST · by Kaslin · 12 replies
    Townhall.com ^ | December 6, 2012 | Larry Elder
    Ah, the hypocrisy of tax-hikers who do everything they can to avoid the taxes they wish to impose on others. Sen. John Kerry, D-Mass.: He tried to avoid $500K in his home state's sales and excise taxes by docking his newly purchased $7 million 76-foot yacht in Rhode Island. Massachusetts lowered its state income tax in 2001. Given the presumably large number of rich people who pine to pay more taxes, the state allowed tax filers to check a box and voluntarily pay the old, higher rate. In a liberal state of over 3 million tax filers, how many volunteered...
  • Residents Alerted to Obamas' Hawaiian Holiday Plans (Drudge:Obamas-20-day, $4 million)

    11/29/2012 1:23:48 PM PST · by STARWISE · 37 replies
    Hawaii Reporter ^ | 11-29-12 | Malia Zimmerman
    Residents living near the beachfront homes where President Barack Obama and First Family vacation with their friends every year since 2008 were alerted on Monday to some specifics of the Obamas' holiday vacation plans. The report delivered to residents living along the ocean and canal that surrounds the multi-million dollar homes at Kailuana Place where the President stays, informed them of restrictions that will be implemented for 20 days beginning December 17 and running through January 6. In a matter of weeks, Kailua residents will see the familiar street barricades fronted by U.S. Secret Service agents and Navy Seals and...
  • Stick-it-to-rich tax plan may backfire on France

    10/18/2012 5:33:51 AM PDT · by COBOL2Java · 18 replies
    The Washington Times ^ | 19 October 2012 | Maya Vidon-White - Special to The Washington Times
    PARIS — France’s Socialist government is proposing a slew of taxes — on art, on businesses, on the rich — that are drawing criticism for stifling entrepreneurship and scaring off the wealthy. “Unfortunately, I think the politics we are leading in France will turn out to be catastrophic for the economy, which is already in bad shape,” said French economist Marc Touati, author of “When the Eurozone Explodes.” “This is a serious mistake, something you learn in [Economy 101] — it will aggravate the recession and therefore shrink the tax base.” Led by President Francois Hollande, the French government proposed...
  • Austrian chancellor calls for tax on rich in poll campaign

    10/13/2012 2:15:26 PM PDT · by Olog-hai · 6 replies
    EU Business News ^ | 13 October 2012, 23:06 CET | (Via AFP)
    Austria's center-left Chancellor Werner Faymann kicked off Saturday his campaign for re-election next year with a call for higher taxes and a commitment to the crisis-hit European Union. Speaking at a party conference of his Social Democrats (SPOe), Faymann said he wanted to raise taxes on the wealthy and bring back an inheritance tax in order to improve "social justice" and curb the "excesses of capitalism.""In order to increase the number of all-day school places… to 100 percent, we need €500 million ($650 million) per year," he said. "This is exactly the amount that an inheritance tax… would generate." …
  • Obama meets Hollywood mega-donors during secret “thank-you event” in L.A.

    10/08/2012 5:43:57 AM PDT · by markomalley · 12 replies
    Washington Examiner ^ | 10/8/2012 | Charlie Spiering
    During his fundraising trip to Los Angeles this weekend, President Obama began by privately meeting a dozen liberal donors at the home of DreamWorks Animation Chief Jeffery Katzenberg. Obama’s “defender-in-chief,” former President Bill Clinton also attended. When asked by reporters about the nature of the event, White House Traveling Press Secretary Jen Psaki would only say that it was a “thank-you event” “We have actually done meetings or events with high-dollar donors who have maxed out or contributed a high amount to the campaign around other events before, Psaki explained. “So this is one of those events; it’s a thank-you...
  • France adopts 'combat budget' for 2013

    09/29/2012 3:15:47 PM PDT · by Olog-hai · 6 replies
    EU Observer ^ | 28.09.12 @ 17:36 | Valentina Pop
    France's Socialist government on Friday (28 September) unveiled €30 billion ($38.6 billion) worth of tax hikes and spending cuts in a bid to bring the public deficit in line with EU rules next year. Dubbed a "combat budget" by Prime Minister Jean-Marc Ayrault, the fiscal plan is based on sharp tax increases for the rich (75% on millionaires) and for companies expected to bring in €20 billion ($25.7 billion).The budget is based on the assumption the economy will grow by 0.8 percent.This may prove difficult, as France's growth was zero this year and the continuing eurozone crisis is worsening the...
  • France taxes rich and business to slash deficit

    09/28/2012 7:22:20 AM PDT · by Beave Meister · 15 replies
    Reuters ^ | 9/28/2012 | Daniel Flynn and Leigh Thomas
    President Francois Hollande's Socialist government unveiled sharp tax hikes on business and the rich on Friday in a 2013 budget aimed at showing France has the fiscal rigor to remain at the core of the euro zone. The package will recoup 30 billion euros ($39 billion) for the public purse with a goal of narrowing the deficit to 3.0 percent of national output next year from 4.5 percent this year - France's toughest single belt-tightening in 30 years. But with record unemployment and a barrage of data pointing to economic stagnation, there are fears the deficit target will slip as...
  • Hillary Clinton Pushes for Global Tax on Elites

    09/25/2012 5:23:41 AM PDT · by SeekAndFind · 57 replies
    Weekly Standard ^ | 09/25/2012 | BY DANIEL HALPER
    In remarks this morning to the Clinton Global Initiative, Secretary of State Hillary Clinton proposed a radical idea: a global tax on elites around the world. "One of the issues that I have been preaching about around the world is collecting taxes in an equitable manner, especially from the elites in every country," Clinton said to laughter from the audience. "You know I’m out of American politics, but – (applause) – it is a fact that around the world, the elites of every country are making money." Clinton continued her rift on the rich. "There are rich people everywhere. And...
  • The Rich Don't Pay Enough?

    08/29/2012 10:56:14 AM PDT · by Kaslin · 20 replies
    Townhall.com ^ | August 29, 2012 | Walter E. Williams
    If you listen to America's political hacks, mainstream media talking heads and their socialist allies, you can't help but reach the conclusion that the nation's tax burden is borne by the poor and middleclass while the rich get off scot-free. Stephen Moore, senior economics writer for The Wall Street Journal, and I'm proud to say former GMU economics student, wrote "The U.S. Tax System: Who Really Pays?" in the Manhattan Institute's Issue 2012 (8/12). Let's see whether the rich are paying their "fair" share. According to IRS 2007 data, the richest 1 percent of Americans earned 22 percent of national...
  • The Rich Pay Their Fair Share in Taxes — And Then Some

    08/09/2012 7:04:08 AM PDT · by Kaslin · 4 replies
    Townhall.com ^ | August 8, 2012 | Jeff Jacoby
    ARE AMERICANS EAGER for higher taxes on the affluent? Barack Obama and his allies clearly think so. The president who came to office vowing to "spread the wealth around" by raising taxes on individuals with incomes above $200,000 is doubling down, making a tax hike on the rich the centerpiece of his campaign for reelection. "We should ask the wealthiest Americans to pay a little more," he urged a White House audience last week. "We're talking about folks like me going back to the tax rates that existed under Bill Clinton.… And here's the thing -- there are a lot...
  • German economists: make the rich buy bonds

    07/12/2012 3:26:00 PM PDT · by dynachrome · 21 replies
    thelocal.de ^ | 7-12-12 | unattributed
    The German Institute for Economic Research (DIW) suggested that those with a substantial private fortune be forced to hand over 10 percent of what they have over €250,000. This would hit the richest eight percent of the population and would not lead to the feared reduction of consumer demand, it said. The tactic could be adopted to raise money in crisis-hit countries across Europe, the DIW said in a statement.
  • Wealthy Socialite/Top Democratic Donor Denise Rich Renounces Her U.S. citizenship

    07/09/2012 10:45:50 PM PDT · by tcrlaf · 50 replies
    UK DAILY MAIL ^ | 9 July 2012 | Daily Mail.Reuters
    -Songwriter also has Austrian citizenship through her late father -Former husband Marc Rich fled the country when indicted on charges of tax evasion - but was pardoned by President Clinton in 2001 -House of Representatives committee later found Denise Rich had swayed the decision through donations to Clinton campaign -Comes as the latest wealthy American to denounce citizenship Denise Rich, the wealthy socialite and former wife of pardoned billionaire trader Marc Rich, has given up her U.S. citizenship - and, with it, much of her U.S. tax bill. Rich, 68, a Grammy-nominated songwriter, top Democratic donor and glamorous figure in...
  • Obama Orders IRS to refund 'Illegal Aliens' $4.2 billion, While Asking the Rich....

    05/07/2012 7:56:55 AM PDT · by yoe · 31 replies
    (Loophole.)(4 Billion a year)(video)(Illegal Aliens Getting Bigger Tax Refund Checks?)
  • Democrats tax the rich -- and help some get richer

    04/29/2012 7:35:12 AM PDT · by SmithL · 10 replies
    Sacramento Bee ^ | 4/29/12 | Dan Walters
    One hears a lot of noise these days in and out of the Capitol about "the 1 percent" – those at the top of the income pecking order – and the moral imperative to levy higher taxes on them to support public services. The narrative from left-wing activists and their political allies is that those at the top have rapaciously gathered more wealth while the poor get poorer and those in the middle class struggle to keep afloat. We'll hear a lot more in the coming months because Gov. Jerry Brown and his fellow Democrats in the Legislature are beating...
  • Why Are the Rich Still Enamored of Obama?

    04/22/2012 5:52:49 AM PDT · by Kaslin · 45 replies
    Townhall.com ^ | April 22, 2012 | Austin Hill
    A question for the rich: if President Obama successfully breaks the backs of the working middle class, is that really good for you? And how about this: if over half of your fellow Americans pay no income taxes and are quite happy to have you foot the bill for our wasteful bloated government, will that be good for your portfolios– or anybody else’s? We’re less than seven months away from selecting either four more years of Barack Obama, or a new President named Mitt. At this point President Obama isn’t running on his track record, so much as he is...
  • George Washington Would Be Too Rich To Be President Re: Obama

    04/17/2012 6:12:11 AM PDT · by joeclarke · 14 replies
    JoeClarke.Net ^ | 04/17/2012 | JoeClarke.Net
    I cannot think of a better community organizer than our founding President George Washington. His charge to organize thousands of non professional soldiers to fight a war against the well trained and well equipped Brit Redcoats had to be at least as difficult as President Obama's tireless efforts to round up fellow travelers on the south side of Chicago to harass banks for not lending to people who could not repay loans. Although, we know nothing about Obama's early financing, except that it probably was gifted to him by a sheik, or two, George Washington married into money through his...
  • Jerry Brown changes his tax plan to address concerns of liberal allies

    03/15/2012 1:49:44 PM PDT · by SmithL · 6 replies
    Sacramento Bee ^ | 3/15/12 | Kevin Yamamura
    After a months-long feud with his most liberal allies, Gov. Jerry Brown compromised Wednesday to eliminate a rival tax initiative for the November ballot. The new proposal Brown forged with the California Federation of Teachers and left-leaning activists would rely more on taxing the rich to raise an estimated $9 billion for California's budget. The Democratic governor tried with little success to knock CFT's rival tax on millionaires off the November ballot. With a negotiating window closing fast because of the election calendar, state leaders and the teachers group struck an eleventh-hour deal to put their unified plan before voters....
  • French (Socialist) Candidate Calls for Top Tax of 75 Percent

    02/29/2012 7:33:58 PM PST · by Olog-hai · 26 replies
    Der Spiegel ^ | 02/28/2012
    François Hollande, the Socialist Party frontrunner for the French presidency, announced a tax plan Monday that would see taxes on the wealthy rise dramatically if he is elected this spring. Speaking on TF1 television, Hollande proposed a 75 percent tax on income over €1 million ($1.34 million), a huge jump from the current top rate of 40 percent. "I can announce here that above €1 million (per year), the tax rate should be 75 percent, because it's not possible to have that level of income," said Hollande, who added that he did not accept "excessive wealth." Hollande has consistently held...
  • Geithner: 'Privilege of Being an American' Is Why Rich Need Higher Taxes

    02/25/2012 6:26:21 AM PST · by bestintxas · 46 replies · 2+ views
    Weekly Standard ^ | 11:00 AM, Feb 24, 2012 | By DANIEL HALPER
    "That’s the kind of balance you need," said Geithner. "Why is that the case? Because if you don't try to generate more revenues through tax reform, if you don't ask, you know, the most fortunate Americans to bear a slightly larger burden of the privilege of being an American, then you have to -- the only way to achieve fiscal sustainability is through unacceptably deep cuts in benefits for middle class seniors, or unacceptably deep cuts in national security."
  • 'Soak the rich' a false formula

    02/20/2012 10:53:14 AM PST · by Graybeard58 · 7 replies
    Waterbury Republican-American ^ | February 20, 2012 | Editorial
    It's February, so President Obama has unveiled his budget proposal for fiscal year 2013, which begins Oct. 1. Mr. Obama, who has presided over the first trillion-dollar budget deficits in American history and proposes to spend $3.8 trillion in his new budget, let it be known — again — that increasing taxes on "the rich" is his method of choice for raising revenue. The president may think this will get the nation out of the fiscal crisis he worsened, but in reality, he is setting the stage for more budget shortfalls — in the unlikely event this budget, unlike the...
  • Obama Heads West for 8 Star-Studded Fundraisers, $8 Million Haul

    02/15/2012 12:15:43 PM PST · by Oldeconomybuyer · 5 replies
    ABC News ^ | February 15, 2012 | By Devin Dwyer
    President Obama heads west today for a three-day, three-state swing aimed largely at filling the coffers of his re-election campaign and honing his message to supporters in key states. Obama will headline eight fundraisers across California and Washington through Friday night. The events are expected to net at least $8.6 million for the Obama Victory Fund. Much of Obama’s focus will be on mingling with some of his wealthiest – and most famous – supporters in Los Angeles and San Francisco, who will play a key role in underwriting his bid for a second term. Later he’ll dine with 80...
  • Obama's Phony War on the Rich

    01/21/2012 6:06:51 AM PST · by Kaslin · 19 replies
    Townhall.com ^ | January 21, 2012 | John C. Goodman
    Ever since the First Couple entered the White House, their social life has swirled around the very rich. Hollywood actors, pop star singers, Wall Street hedge fund managers, billionaire investors — these are the fabled "top 1 percent" in terms of income and wealth. The Obamas invite them to White House dinners. They vacation with them on Martha’s Vineyard. They party with them. They sup with them at $35,000-a-plate fundraisers. (Have these affairs ever included an auto worker? A mine worker? How about someone who is unemployed and looking for a job? What about someone who has lost his home?...
  • Obama to Draw an Economic Line in State of Union (activist role for gov, more taxes and spending)

    01/21/2012 11:34:23 AM PST · by Innovative · 35 replies
    NY Times ^ | Jan 21, 2012 | JACKIE CALMES
    President Obama will use his election-year State of the Union address on Tuesday to define an activist role for government in promoting a prosperous and equitable society, hoping to draw a stark contrast between the parties in a time of deep economic uncertainty. ...Mr. Obama will call for changing the corporate and individual income-tax codes so the wealthy pay more, both to finance government investments and to alleviate the rise in income inequality in recent years. Republican presidential candidates have countered that government should get out of the way.
  • New political ad pitch to Kim Kardashian: Come on, girl, pay more taxes!

    12/19/2011 5:25:20 PM PST · by SmithL · 9 replies
    SFGate: Politics Blog ^ | 12/19/11 | Carla Marinucci, Chronicle Political Writer
    Reality TV star Kim Kardashian – she of the Jimmy Choo shoes and Dolce & Gabbana lifestyle — is getting pitched this week to reach into her very, very deep designer pockets and come up with more money for California’s education and social services. No joke. The new ad campaign from the Courage Campaign has a light and playful touch but pointedly notes that Kimmie made $12 million last year, a far cry from the $47,000 average income for Joe Californian. It’s a high profile effort for the Courage Campaign’s latest campaign: www.MillionairesTaxCA.com, which officially asks “the wealthiest Californians —...
  • Obama's Rx for the Middle Class

    12/08/2011 8:42:51 AM PST · by Kaslin · 10 replies
    Townhall.com ^ | December 8, 2011 | Debra J. Saunders
    In his big economics speech in Osawatomie, Kan., Tuesday, President Barack Obama asserted, "This is a make-or-break moment for the middle class." That's not good news for the middle class. What's the big problem facing Americans today? A lack of good jobs or the fact that rich people make more now than rich people used to make? The president seems to believe the latter. He seems to think that if Democrats raise tax rates on the wealthy, jobs will become fruitful and multiply. Or if they don't, at least he can blame Republicans for not agreeing to his economic package....
  • Gov. Brown “going directly to voters” for tax raise on “high-income earners”

    12/05/2011 3:59:27 PM PST · by SmithL · 67 replies
    San Francisco Chronicle ^ | 12/5/11 | Andrew S. Ross
    From “An Open Letter to the People of California”: I am filing today an initiative with the Attorney General’s office that would generate nearly $7 billion in dedicated funding to protect education and public safety. I am going directly to the voters because I don’t want to get bogged down in partisan gridlock as happened this year. The stakes are too high.
  • Are high-income taxpayers the enemy?

    11/29/2011 7:19:23 AM PST · by SmithL · 5 replies
    Sacramento Bee ^ | 11/29/11 | Dan Walters
    It's difficult to divine exactly what the Occupy demonstrators in California cities and on university campuses are protesting. ... We needn't weep for the wealthy; they can take care of themselves. But their incomes are much more volatile than those of us who earn paychecks because they are much more dependent on capital gains from stocks and other investments, and when recession hits, their income streams decline sharply. That's where the effect on college fees comes into the equation. California has a particularly progressive personal income tax system, which means that it's extraordinarily dependent on high-income taxpayers. In fact, the...
  • ‘Patriotic millionaires’ demand higher taxes, but unwilling to pay up [VIDEO]

    11/18/2011 11:35:42 AM PST · by Eagle of Liberty · 20 replies
    The Daily Caller ^ | 11/17/2011 | Michelle Fields
    Washington — Two dozen “patriotic millionaires” traveled to the Capitol on Wednesday to demand that Congress raise taxes on wealthy Americans. The Daily Caller attended their press conference with an iPad, which displayed the Treasury Department’s donation page, to find out if any of the “patriotic millionaires” were willing to put their money where their mouth is.
  • The Rich Are Richer And The Poor Will Stay Poorer . .

    10/12/2011 9:53:37 AM PDT · by joeclarke · 7 replies
    JoeClarke.Nert ^ | 10/12/2011 | JoeClarke.Net
    . . . Due To Liberal "Generosity." 50 million Americans are recorded as living below the poverty line, and nearly 50 million citizens are receiving Food Stamps, compliments of the rest of the tax paying populace. Lyndon Baines Johnson originally alloted a little over 1% of U.S. Gross Domestic Product to fight the War on Poverty, which we are miserably losing. Now, over 14% of America's GDP is spent on poverty programs. Dividing the estimated GDP of $14,000,000,000,000 by 50,000,000 "poor" Americans equates to each poor American receiving some sort of welfare in the amount of $280,000 per person. Don't...
  • The Rising Backlash Against the Rich (Woe to the rich today. You are now considered "undeserving")

    10/10/2011 7:58:30 AM PDT · by SeekAndFind · 41 replies
    Real Clear Markets ^ | 10/10/2011 | Robert Samuelson
    The context for Occupy Wall Street and proposals to tax the rich - "rich" being constantly redefined - is the broader issue of economic inequality. For years, liberal politicians, academics and pundits have complained about growing inequality, but their protests barely resonated with the public. When most people are doing okay, the fact that some people are doing better does not arouse much anger. No more. When many people do worse, or fear they might, the rich inspire resentment and envy. Glaring inequalities that once seemed tolerable become offensive. By and large, Americans regard the rich the way they do...
  • White House: Millionaire tax isn’t enough

    10/07/2011 12:25:45 PM PDT · by Sub-Driver · 77 replies · 1+ views
    White House: Millionaire tax isn’t enough Neil Munro -- The Daily Caller 39 mins ago President Obama wants tax increases on the wealthy, regardless of whether the Democrats’ proposed millionaire tax becomes law, White House spokesman Jay Carney said Friday. “The president’s position has not changed” since he called for increased tax rates on individuals earning more than $250,000 per year, and for adoption of the “Buffett Rule,” Carney said during his midday press conference. Under the still-vague “Buffett Rule,” named for multi-billionaire investor Warren Buffett, the government would ensure wealthy people could not use current features of the tax...