Posted on 02/28/2009 8:02:01 AM PST by MAD-AS-HELL
NEW YORK (Fortune) -- During the presidential campaign, Barack Obama tempered his pledge to substantially raise taxes for high earners with an important proviso: He'd simply restore rates to their levels during the Clinton Administration. The implication was that families in the upper brackets would see their total tax bite go back to the levels of the 1990s, but no higher.
Now, it sure looks like Obama is reneging on that promise. The burden will indeed go far higher than in the Clinton years via a technicality -- one that will come as a rude shock even to the taxpayers already braced for a soaking.
(Excerpt) Read more at money.cnn.com ...
You can’t steal money from those that create the jobs in the first place and then expect the economy to recover.
Obama knows this.
His plan is to make as many people dependent on government as possible. This is necessary to maintain control FOREVER!
It’s the death knell for charities. The higher tax rates take a bigger bite from disposable income. Then, the elimination of the deductability of charitable contributions takes another bite, a big bite. Next, people will swant to save more given their nervousness about their own jobs. Finally, the coming rampant inflation will crimp spending power.
If we are going to have a AMT, it should be worded so that everyone, regardless of tax bracket, pays a minimum amount say 8%.
Which is all fine except the economy is in the toilet now. DUH~
Oh hellll no. I'm definitely sending that quote around to my friends.
Nah, they count figures on both sides of the decimal point.
Yep, the rich wanted this Jackaroo, and now they got him.
As for me, I can Anne Rand it for a few years. I may have to invest a lot of capital into my farm, look for grants etc.
I’m not a regular Rush Limbaugh listener, but it has been very interesting to listen in recently.
I always appreceate Rush’s postive and upbeat demeanor.
There have been some amazing phone calls coming into his program of really decent hardworking folk who just sound like they have been beaten down. It’s a shame.
I’m not quite near this 250k, but I have a few friends and family that are there and I feel for them. My brother is a technical pilot, who has worked incredibly hard his entire life to get ahead, send his kids to the best schools, have a really nice home and vehicles. I don’t really consider him to be “rich” though and I know the tremendous sacrifices that he has made to get where he is.
One caller to Rush’s show stated that there was really no reason to save money anymore. She felt that if she put forth the extra effort and saved for retirement that it would simply be taken from her and her family, if not now, then at some point in the future.
My wife and I put a good bit of savings into 401Ks. We also have a very large piece of undeveloped property, which is really all that I believe I may have left by the time I hit SS age.
I’ve always considered real estate to be a great long term investment,but I am begininning to feel as though this property will not be safe from the Federal confiscators. Heck, it may not even be safe within my own state?
When the voting booth was taken away from us (by ACORN, et al) what did Americans do??
Only CNN could be surprised by this.
0bama’s only doing what he said he’d do during his two-year-long campaign.
CNN was fixated on his blackness.
I have a retired farm, but am worried that it may not be safe from the government.
I’ve read a few really horrible stories out of New Jersey about the government simply condemning property that they want fro public schools (which the government had not planned for or commercial development).
I feel as though our property no longer belongs to us.
Thinking 'outside the box'....There is a non-zero possibility that there is a 'suicide-bomber' in the Whitehouse...so that would mean . " necessary to lose control FOREVER!"...or at least until Soros can close out his 'shorts'.
what did Lucas say?
In china they called it the cultural revolution, in cambodia the killing fields and in america hope and change.
Here’s the *big* problem: Most of the country is still asleep and has no friggin’ idea that a train wreck is coming. Furthermore, many of O’s policies won’t fully go into effect until after the ‘10 election. We’re going to loose that one, too.
By the time people wake up, they’ll have already voted in the next election. We have two years until the nation goes to hell, then we’ll have a very difficult time getting it back.
“You have to be a few bricks shy of having a full load to believe anything that black POS says.”
Tell me I’m reading this wrong. Black POS?
I don’t think most Americans are aware of voter fraud? Seems like a lot of them voted for Obama and were happy to.
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