First Hard Numbers on Obama Tax Plan Show Dramatic Tax Redistribution

Tax Foundation ^ | June.26, 2008

[Reagan Man]

"Under the Obama plan for 2009," explains Hodge, "more than $131 billion would be redistributed from the top 1 percent of taxpayers to all other taxpayers."

[griswold3]

“Anyone may arrange his affairs so that his taxes shall be as low as possible; he is not
bound to choose that pattern which best pays the treasury. There is not even a patriotic
duty to increase one’s taxes. Over and over again the Courts have said that there is
nothing sinister in
so arranging affairs as to keep taxes as low as possible. Everyone does it,
rich and poor alike and all do right, for nobody owes any public duty to pay
more than the law demands.”
(US Appeals Court Justice the Honourable Learned Hand)

“The avoidance of taxes is the only intellectual pursuit that carries any reward.”
(John Maynard Keynes)

[Mogollon]

Sounds like the “bourgeousie capitalist pigs” are in for a fleecing if obambi gets in.

[ex-Texan]

Big O says, ‘I’m just like Robin Hood. Take from the rich and give to we’ . . . LOL, LOL ! Sounds like a plan to me . . . LOL, LOL !

[Reagan Man]

We must not let our rulers load us with perpetual debt. We must make our election between economy and liberty or profusion and servitude. If we run into such debt, as that we must be taxed in our meat and in our drink, in our necessaries and our comforts, in our labors and our amusements, for our calling and our creeds . . . we [will] have no time to think, no means of calling our miss-managers to account but be glad to obtain subsistence by hiring ourselves to rivet their chains on the necks of our fellow-sufferers. And this is the tendency of all human governments. A departure from principle in one instance becomes a precedent . . . till the bulk of society is reduced to be mere automatons of misery. And the fore-horse of this frightful team is public debt. taxation follows that, and in its train wretchedness and oppression.

~~~ Thomas Jefferson On Taxes and Debt

[businessprofessor]

What is the long-term effect on the economy if so few households shoulder such a large share of the tax burden? When a majority of Americans are paying so little for government, will that majority then demand even more services than they would have otherwise? Can a tax system so focused on redistribution be compatible with economic growth?

Forget arguing the economic consequences. The economic consequences will be devasting in the long term. However the long term will take years to happen. By the time the actual consequences of these policies occurs, it will be too late to change the policies.

The argument against these policies is tyranny and mob rule. The rats want to steal the income and wealth of successful citizens. This situation is just a modern form of the tyranny of the French Revolution.

[Always Independent]

Well you know BHO is for change you can believe in! Because when he and the DEMONS get control over the gov’t and raise our taxes, thats all we’ll have left! CHANGE!!

“SAY NO TO BO IN 08”

[<1/1,000,000th%]

The Arab-American Obama is in the top 1% of American taxpayers.

[ex-Texan]

Big O plans to try and push slavery reparations through Congress. That means he will try to correct 200 years of history with a single stroke of the pen. I can imagine the scene now in my head. I can even see his smile . . .

[Kolokotronis]

“Forget arguing the economic consequences. The economic consequences will be devasting in the long term.”

Will they be anything like the devastation caused by the collapse of our manufacturing economy so those rich folk could make more money using semi-slaves out in dog vomit third world hell holes or places like Red China?

“This situation is just a modern form of the tyranny of the French Revolution.”

You may be right. When it starts, where will you be and who will you blame, assuming you blame anyone? Do you anticipate the working class will flock to the banner of a group of internationalist capitalists?

[A_Former_Democrat]

Learned Hand. One of the great names of all time.

[Uncle Miltie]

Who is John Galt?

[djsherin]

Communism! Because Capitalism and the American Constitution are annoying and immoral formalties!

[Reagan Man]

Ayn Rand’s male counterpart.

[djsherin]

oh my gawd, ur obviously just another backwards conservative white guy who hates blacks and stuff y don’t u get over urself and start being nice 2 black people cuz ur obviously a racist and stuff JEEZ!

I love the left... and by love, you know, I mean loathe.

[Jeff Head]

I'm shocked! [/dripping sarcasm]

In reality...just what would we expect. The man is an abject marxist.

THE AUDACITY OF TRUTH ABOUT BARACK HUSSEIN OBAMA

[Reagan Man]

>>>>>The man is an abject marxist.

Thanks for your continued posts exposing Obama --- hardcore leftist.

[Jeff Head]

You are welcome, it will take all of us, doing all we can in our spheres of influence, to educate and awaken others to this man’s reality and what he represents, to defeat him and keep him from gaining the reigns of power.

[businessprofessor]

It sounds like you are ready to join the Obama mob. Viva la revolution!

[SERKIT]

Senator Obama's tax plan is a dramatic redistribution of wealth the nation's tax burden...

THERE, fixed it!