What Are Rich People Thinking? (Rich Obama supporters love paying higher taxes)

Newsweek ^ | 11/10/2008 | Daniel Gross

[Myrddin]

I'm not getting a tax cut. Obama is a damn liar. When the Bush tax cuts expire, my income tax refund will be nil. In 2005, I managed a $9,100 refund from state and federal taxes because of the Bush tax cut. That became the down payment on my 2nd house. The following year, the mortgage interest and property taxes on that house pushed me into AMT territory. Now I have to do my taxes twice. Once with property tax and interest deducted and again without the deduction. Sometimes it's less expensive to let the "deduction" go down the toilet.

In 2000, my company stock options pushed the household income to $247K. I paid $70,000 in federal income tax and $19,500 in CA state income tax. I also paid max social security...as I have for most of 30 years. That was life under Clinton.

[Myrddin]

You are still playing the class envy game. Would you be happy if the government confiscated 10% of your net worth every year? You would be living under a bridge in short order.

[Trajan88]

No I would not... I know the folks with mega wealth would not either.

[Republic of Texas]

That’s why Included that info. Right now he has an income stream, but no profits. Write-offs, doncha’ know. Still, we will ALL get a tax increase when the Bush tax-cuts expire, regardless of what Congress does next.

[oldbill]

Rich people don’t pay taxes, meaning taxes on income.

They find ways to shelter the income, or they get their money outside of the regular income stream, like dividends, options, expenses.

You could raise their rate to 100% and it won’t affect them.

[Irene Adler]

"Obama wants to enlarge the middle class..."

No leftie wants to enlarge the middle class, ever. Leftists HATE the middle class. The middle class is too independent, too productive, too able, and too smart for leftists. The middle class will be destroyed under Obama if he can do it. Then we will have a third world country: with elites that get whatever they want whenever they want it and a resentful, helpless, dependent, weak and stupid lower class that is SO controllable just as long as the bread and circuses are tossed its way by the elites. This is what Obama wants and will create if he possibly can.

[Arizona Carolyn]

beats the @#$% out of me... what WERE they thinking? they are in for a very rude awakening.

[wac3rd]

Your assessment is correct, it thwarts upward mobility from the lower or middle classes as the tax burden “up the ladder” from a successful enterprise becomes mathematically less and less possible.

Like the USSR, the Party leaders will control the money and power and the rest will be told to “share”.

It is merely a mask for Marxism.

[wac3rd]

If Mill Valley burned like the Oakland Hills fire (take Berkeley and the Castro, too) I would not shed a tear.

[green iguana]

People don’t pay taxes on their Wealth.

Not yet.

But certainly, anyone with a net worth of more than $10,000,000 can afford to pay a paltry 2-3% per year on that... We have lots of new programs to fund, you know.

[JPJones]

THe only logical answer is:
Rich people work for the government and get their higher paychecks from higher taxes.

[MrB]

I asked an 0bama supporter if they were going to pay more than required of them on April 15, 2009,

because that’s what they voted for the rest of us to do in later years.

Indignance and refusal to answer were all that I got back.

[Betis70]

Lots of discussion about Fairfield County voters in the main article.

[calenel]

But how many of US are they going to take with them?

[Betis70]

Read the article. He is not talking exit polls, he is talking about *actual* results from some of the richest cities/towns in the entire country.

[Betis70]

Someone told me if I was happy to get a free coffee at Charbucks just for sporting an ‘I voted’ sticker, I didn’t need to worry about tax increases from Zero.

Yeah right.

[MrB]

I've got something that will shut up anyone that says that you aren't going to have your taxes raised.

Shut up a lib alert

Tell them that, for the duration of 0bama's "rule", you'll pay them any difference if your tax liability is LESS under 0bama's tax structure than under 2007/08 tax law if they'll agree to pay the difference if it's MORE.

[Myrddin]

You missed the sarcastic streak in my post. The usual intent to increase the middle class comes from helping the lower class succeed and move up. Obama is working the other direction. Pushing people out of the upper class into the middle class. It's a general downward push on the affluence of the entire society. Standard socialist objective.

[adorno]

People don’t pay taxes on their Wealth. People pay taxes on their income. It is not those who are already rich that have to worry about these taxes, it is the people who want to become rich.

Under socialism, everything is taxed, including income and assets. In fact, we currently have a sort of socialism when it comes to property taxes. No matter how much you owe on your property, whether 100% or 0% or anywhere in between, if you fail to pay your property taxes, your house can be confiscated and sold to recoup those unpaid taxes.

As with property, any other asset can be classified as perpetually taxable. Property can be anything of value, including cash or hard assets or businesses or income.

In a communist state, which is where Obama will lead us, you don't have the right to own anything. Everything is shareable or redistributable, and in that sense, you don't really own anything. It's all community property and all that you have is temporarily for your use, and when you die, the government will take and re-distribute anything which you may have viewed as "yours".

So, in essence, those rich voters who voted for Obama and democrats in the election, are not really aware that they're committing financial suicide.

[Dionysius]

Sheesh! All those rich Obama supporters are moving their booty offshore so fast the lines are burning!