Posted on 07/26/2014 8:52:45 AM PDT by Rusty0604
Here is President Obama in a chat yesterday with CNBC’s Steve Liesman:
STEVE LIESMAN: Mr. President, ... You’ve said a bunch of times that getting the wealthy to pay a little bit more, and you’ve succeeded in raising that top tax rate to 39% or rolling back the tax cuts. Is there a limit there? Is there a limit to how much you believe the government should take from an individual in terms of a top tax rate?
PRESIDENT OBAMA: You know, I don’t have a particular number in mind, but if you look at our history we are still well below what, you know, the marginal tax rates were under Dwight Eisenhower or, you know, all the way up even through Ronald Reagan. Tax rates are still lower on average for most folks. And what that means is that we probably can make some more headway in closing loopholes that folks take advantage of. As opposed to necessarily raising marginal rates.
The president’s answer certainly suggests,... that he believes the US is nowhere close to the danger zone. If so, he is merely in sync with top left-leaning economists — such as Peter Diamond, Thomas Piketty, Emmanuel Saez — who argue for top rates in the 70% to 80% range, if not higher. Oh, and at the same time the high-tax crowd would close tax loopholes and increase tax enforcement to limit avoidance.
Interestingly, Obama wrote in The Audacity of Hope that the real problem with the 70% tax rate that existed when Ronald Reagan was president was not that it “curbed incentives to work or invest” but that it led “to a wasteful industry of setting up tax shelters.” So maybe Obama thinks a 70% rate with little to avoid it would be just fine.
(Excerpt) Read more at aei-ideas.org ...
Are the EXEMPT even taxed?
They are not under Obama/DeathCARE.
They are not under SEC rules for others.
How many tax breaks do THEY, their staff and families
get unlike their hated voters?
Or would a little higher be better?
His hedge fund / crony capitalist supporters all pay their tax on “carried interest” at cap gain rates.
I’d love to ask them on natl tv how many would like to contribute to make their rates equal to Baraq’s desired number for the rest of us....
I can’t believe Americans have to put up with two more years of this Marxist maggot.
He’s thinking in his head “black, too much. brown, too much. White, not enough.” That’s what he’s thinking.
bump that, bro
Damnable lie. As usual.
First, 47% don't pay squat, so of course their taxes are lower.
As for the rest, the rates were higher in the past, but so were the brackets. Way higher, so much so that very few paid them. And those that did had dozens of legal ways to avoid paying them, ways that are no longer available.
The only meaningful way to measure today against the past is what percentage of income does each household pay in taxes, adjusting of course for those who currently pay nothing.
THAT, I strongly suspect, is WAY up.
“”closing loopholes that folks take advantage of.””
Like he and his wealthy friends, you know! Why do people, you know, bother to, you know, ask him, you know, questions when it’s clear, you know, that he doesn’t, you know, have a clue about anything! He, you know, wings it all day, you know, long!!!! What did we ever do to deserve this creep in our lives and in our country?????
Zero has said many times in the past that taxation is not about revenue, but about making things "fair," meaning not that people should rise to the highest level of their talents, but that they should all be smashed down to the same level of misery.
It's never fair that some people have more than others, unless you are feral government apparatchik.
Well apparently Obama has an exact number in mind.
Just another Obama lie. He has made it clear in his mind the Government should get ALL of it.
As long as it bankrupts Americans. that might be high enough.
The dictator has spoken. All hail the King!!!!!!!
“What did we ever do to deserve this creep in our lives and in our country?????”
The regime that came to power after we lost the Cold War got tired of the liberty and probity of your country. So they elected a new people and are allowing you to live in their country.
“Loophole” = Congressional way of buying votes in which they now want to renege on their end of the deal.
Lois Lerner approved tax exempt status for foundation
operated by Obama's half-brother on a Sunday
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Actually INFLATION the cruelest tax is on all of us. Its going to be a beeotch when this excessive printing of money takes its toll.
make headway? That indicates his objective is to take more and more of your money.
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