Obama's Tax Hike Would Make All of U.S. Suffer Like Michigan, Rep. McCotter Says

Tech Ticker ^ | Oct. 21, 2008 | Aaron Task

[madison10]

..."First and foremost they raised people's taxes - they cared more about the state budget than about people's family budgets." McCotter says. "When you suck the life blood of people's hard-earned savings, you tend to drive the economy down further than it already was."

McCotter's concern is that Michigan's plight could be a harbinger for the nation if Barack Obama is elected president and raises taxes on those making over $250,000, as planned.

"We've seen in Michigan -- you start off taxing people who are disliked, that has a negative affect on the economy and then you come back and tax everyone else because their first concern is the government's coffers," Rep. McCotter says. "The worst thing you can do in time of economic recession is start raising taxes and further drive economy down into a potential depression."

Before raising taxes, McCotter suggests Obama (or whoever's in charge) trying the following first:

* Stop government spending. (A minority view these days amid discussion of a second stimulus package.) * Allow people to keep their money. * Go for "intelligent, proactive regulation." * Pursue sound dollar and monetary policies....

[madison10]

McCotter for Governor of Michigan!

[SMCC1]

I love McCotter. His videos on youtube are awesome. He’s a great speaker and it’s hilarious when he sarcastically deadpans.

If Obama, Reid Pelosi take over, this guy needs to be minority leader.

[henkster]

Not Michigan.

Zimbabwe.

[p. henry]

This $250,000 number is really starting to irritate me. It's COUPLES making more than $250,000 and individuals making more than $200,000. But the real killer is Obama's proposal to uncap income subject to the Social Security tax. That will be a direct or indirect tax increase on every person with earned income in excess of $102,000.

Also, his proposal to increase capital gains taxes probably has already had an impact on the stock market.

You combine all three of those proposals with the reported comments by Democrats in Congress that they are considering eliminating the deductibility of contributions to 401(k) accounts and by Obama's principal environmental advisor that they intend to amend the regulations under the Clean Air Act to treat carbon dioxide as a pollutant and the general aversion of Democrats to produce and use pretty much any hydrocarbon and we may not have an economy worth saving in four years.

I meant what I said in a previous post: Lyndon Johnson's War on Poverty has become Barak Obama's War on Prosperity.

[puroresu]

It's funny how we're told that liberalism is so great, yet people flee from it. When a state gets taken over by liberals, people start trying to move out. Massachusetts didn't fill up with New Hampshirites, fleeing their conservative state for more liberal pastures. Colorado ranchers didn't sell the farm and move to Los Angeles. It's always the other way around.

People in the fifties and sixties and even into the seventies talked about moving to California or maybe retiring there. That was when it was a mostly Republican state. Now, those same people can't wait to get out of the leftist stronghold it has become.

Does anyone in the other 49 states seek to move to Michigan to enjoy Granholm's policies? It's hard to imagine it.

One of the reasons the left wants world government is to create a regime no one can escape from.

[absolootezer0]

Obama's Tax Hike Would Make All of U.S. Suffer Like Michigan, Rep. McCotter Says

mi PING!

this is what i've been saying for a couple years now. if you want to know what will happen to the country if a dem gets in the white house.. look at MI.

[defal33]

The Levin Brothers and Stabinow are the elected destroyers of my district. Michigan: Stuck on Stupid!

[ScottinVA]

Yep. An vibrant economy like Michigan’s; a clean, smooth-running political system like Chicago’s; and traditional, moral culture like that of San Francisco. The change we need.

Puke

[Niuhuru]

One thing I’ve noticed lately about Hollywood vermin is that they seem determined to live just like the royals and aristocrats they are supposedly supposed to be ideologically against. They go to a posh, traditional area, and then start turning it into a PC, party central area, pestering politicians into making the same laws that they ruined California with.

[Ouderkirk]

The argument goes that anyone who makes less than $106K pays FICA taxes on 100% of their earnings. And to be fair that those above 106 should pay on all of their earnings as well.

And while there are families, like mine, who make $180K and we pay taxes on 100% of our salaries since neither one of us are above $106K threshold, that it is "fair" to tax those above the threshold the same way.

Maybe it is fair to tax them the same way. I am not one of those who believes that. Since the progressive tax system levies a higher tax at higher income levels, those folks who are over the $106K threshold pay substantially more in standard income taxes than what would be paid in FICA taxes. And this also would fall to their employers to cover the other 8.2 percent of the FICA tax increase.

This is a profoundly bad idea to prop up this disaster.

[Ouderkirk]

Does anyone in the other 49 states seek to move to Michigan to enjoy Granholm's policies?

My dopey democRAT in-laws just moved from Charlotte, Michigan to Delaware to escape the taxes.

[mrmargaritaville]

bingo! I can’t figure out why the R’s aren’t beating the D’s bloody with this.

[p. henry]

I agree with you. The effect of an uncapping would be to make an already steeply progressive system even more progressive; and since FICA is also a tax on employers, uncapping would retard job creation and reduce pay increases. I guess in that sense, it would have a positive effect on inflation. Anytime you reduce the number of jobs and the wages paid for the jobs that do exist, inflation tends to be lower because there is not as much demand for goods and services. That last sentence was a bit of black humor. I’ve been eligible to vote since 72, and I’ve never been more concerned for our country.

[pgyanke]

Welcome back, McCotter!

[grellis]

If you would like to be added or dropped from the Michigan ping list, please freepmail me.

[henkster]

All of your points are very well taken. In fact, they should be self-evident to any thinking voter. I see this election as a referendum on the stupidity of the American public.

And why I see 0bama’s plan wrecking the economy not like Michigan, but like Zimbabwe.

[sergeantdave]

“Does anyone in the other 49 states seek to move to Michigan to enjoy Granholm’s policies? It’s hard to imagine it.”

As a matter of fact, I’m seeing a number of Californian bums moving here to take advantage of our generous welfare - free food, free housing, cheap beer and all the oprah you can watch all day long.

[SunkenCiv]

Thanks grellis.

[CSM]

I am so sick and tired of discussing this with SE MI liberal dooofuses. They are sick of how bad things are here, and they understand that we are the worst in the nation, yet they consider it a good thing to expand socialist, anti-business policies to a federal level.

The MEA has done a great job of indoctrinating folks to the marxist thought process.

[CSM]

Dave Ramsey mad a great point in yesterday’s show. Paraphrasing, he told his listeners that “some of you out there want to punish the evil corporation, well take a look at your 401K’s and you can see the punishment that you wished for them.” Or something to that effect. In essence, he was trying to tell the ignorant that they are only punishing themselves when they wish to punish business.