Posted on 03/18/2009 8:52:55 PM PDT by Lorianne
President Obama told Californians during a campaign-style town hall meeting on Wednesday that rich people can afford to pay higher taxes in selling his budget plan as an investment in the nation's future.
Mr. Obama pushed back on people who say he is overtaxing the nation, saying his tax increases on families earning $250,000 or more a year are reverting to the tax system under former President Bill Clinton. The president added he will pay higher taxes himself as a result.
"These folks can afford it. They were rich back in the '90s," he said. "It's not like suddenly they're going to have to go to the poorhouse. But what that does is it allows us to pay for health care reform for a lot of people."
Going after a line of attack Republicans have used against him, Mr. Obama insisted, "I don't think that's unreasonable. I don't think that's socialism.
"If the middle class is working well, if working people are doing well, then everybody does well," he said. "That's the philosophy that we are pursuing in this budget; that's why I need your support."
On Thursday, Mr. Obama is scheduled to join Gov. Arnold Schwarzenegger - a Republican who supported the stimulus plan - for a second town hall meeting after a tour of an electric-vehicle plant in Pomona.
The president highlighted California's high unemployment and foreclosure rates but noted, thanks to the stimulus plan, a new hospital will be built at Camp Pendleton.
Mr. Obama portrayed himself as someone who understands hard work, sympathizing with an ex-convict who was laid off from his Toyota job and telling the crowd he knows they don't have the luxury of ignoring their own economic problems.
(Excerpt) Read more at washingtontimes.com ...
He doesn’t think it’s socialism. uh huh
But can the country “afford” Obama?
But can the country “afford” Obama?
Interesting theory. This explains why it’s poor and middle-class people who are constantly on the lookout for tax deductions and credits, invest in tax shelters, and hire the best tax accountants.
Why doesn’t he sell his Chicago mansion then. He can afford it. He’s a dope.
Ah, socialism is the hallmark of the obozo admin.
not when they’ve lost half their net worth due to Bambi’s negligent management of the economy they can’t. however, I was amazed this election, driving down the main boulevard of my town, seeing the number of wealthy idiots, many of whom have inherited wealth, with Democrat signs in front of their 100 year old piles of brick and stone and wondered..whether they really thought Bambi would let them keep that stuff and what they were smoking
ROFL.
As if the rich are just going to sit there and take it. They'll find all sorts of ways to avoid this new tax hike, causing the government to not get as much as it hoped, if anything at all.
The tax rates are going to be a LOT higher than the 90s, Barry. For one, he lied again about “nobody making under $250,000 will see a tax increase”. His cap and trade energy tax raises $2 trillion in taxes, mostly on lower & middle class people. Second, he is going to repeal a lot of deductions (specifically on charities and non-profits) that will raise the rate another 2% or so, and on top of that, he wants to eliminate the cap on Social Security taxes which will be a HUGE tax increase.
Another day, another lie for Barry.
Obammy neglects to mention that he intends to increase taxes on tobacco, gasoline, any and all carbon products such as coal, electricity, and every other thing he can possibly come up with which all add an additional tax burden on the incremental taxes heaped on “rich” people. The net effect will be make a lot of formerly “rich” people no longer “rich.” Then, he’ll have to increase tax rates for everyone to maintain his lavish style.
THE AUDACITY OF TRUTH ABOUT BARACK HUSSEIN OBAMA
BARACK HUSSEIN OBAMA IN HIS OWN WORDS
NOW WE KNOW WHAT A COMMUNITY ORGANIZER DOES
OBAMA, THE STOCK MARKET, AND ENERGY
THE AUDACITY OF TRUTH ABOUT BARACK HUSSEIN OBAMA'S UPBRINGING
They just lost 40% of their investments, and yet they can afford a tax hike.
How many of these "rich" have to continue to work because their retirement investments are no longer enough to allow them to retire?
OK, this is what Wiki thinks socialism is, in part - Oboe’s deal sounds like socialism to me:
Socialists mainly share the belief that capitalism unfairly concentrates power and wealth among a small segment of society that controls capital, creates an unequal society, and does not provide equal opportunities for everyone in society. Therefore socialists advocate the creation of a society in which wealth and power are distributed more evenly based on the amount of work expended in production, although there is considerable disagreement among socialists over how, and to what extent this could be achieved.
I am one of the evil rich, and I cannot afford it. I’m too busy sending my kids to private school to avoid the disaster the public schools have turned into. Then I will send them to college with no scholarship money (I’m rich, I can afford it) and be asked to send a couple of other kids to college as well through my taxes. I’m just into the “rich” category, and I have a newsflash for zero - I’m paying all I can afford and more. To pay my taxes this year, I will be working more, which will put me into an even higher bracket with less deductions, so I will have to work more to pay my taxes, etc. At some point atlas will shrug, because I physically cannot work enough to pay my tax burden.
Obama is breathing through his rear mouth again!
The “rich” don’t pay taxes, because their money is kept out of the reach of the tax man.
The poor pay all the taxes in the end, since every penny they make is spent on necessities.
And tax employer provided health insurance benefits
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