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 ...
"From each according to his ability, to each according to his need."
Where have we heard that before my friends? That's right, that fun-loving guy Karl Marx. Is there anyone on the planet that doesn't think Obama is a socialist? Obama is a serious threat to America as a free society, he is bent on turning us into a socialist state.
I guess technically its Marxism - from those based on ability, to those based on need.
“doesn’t he realize that the new hospital built on Camp Pendleton will be built by illegals”
They check legal status of contractors employees on Pendleton.
You bet. I ditched San Diego, CA for Pocatello, ID. The cost of living is much lower. My house is nicer. I work from my home office. I work for exactly the same employer, but with Idaho state taxes and cost of living. It's actually less expensive for my employer too.
I was being sarcastic!
There is a key difference. Those will ability may chose not to exercise the full range of that ability when the rewards are confiscated. They may chose a much less capable profile. They might even transform into slothful, "needy" types to give the virtual "finger" to the tyrannical government.
This is laughable. As far as I can tell, he's never worked a day in his life.
I think he's implying a 100% TAX on everything over a certain amount!!
So if 0Bama is planning a 100% tax of anyone earing over $250k then every penny over the $250K goes into 0Bama's cluthes.
Also if your invested a million dollars in the stock market and you earned $800k gross then you can kiss the $550k good bye, after all 0Bama has to support all those millions of faithful Acorn workers and other bums.
Yesterday being St. Patrick Day there were 2 parties held there.
I could see that writing on the wall when I graduated from UCSD at age 19 in 1976. I decided against medical school. I have no regrets at all. I see many MDs leaving the profession and finding alternative ways to make a living. One of my colleagues in 2003 was an ER/OB/GYN doc who ceased practicing and opted to do Oracle database contracting and teach Oracle database admin at a community college. His standard of living was lowered to living in an apartment. The medical school debt continued to consume a substantial portion of his income. It was an adjustment.
This is the most thoughtful position I've seen anyone take in the last two years in response to Obama's tax plan. Thnaks "S".
That tax was sold as only affecting those who made over a million/year, and it resulted in thousands of its wealthy packing up and leaving the state. Since they no longer live in California, they not only pay no Millionaire Tax, they pay no California tax at all, and the state lost some of its best people to boot. Now a once proud state that was an economic powerhouse on its own is becoming an economic basket case.
If we are to become prosperous, we need to attract wealth and capital, not tax them away.
I've been keeping a running tally of the proposed impact on my taxes. If it all happens as proposed, I'll be paying another $20,000 in federal taxes. Unfortunately, I have no employees to fire. It just comes out of my disposable income. It will have an impact on the local community. That's $20,000 that won't get spent in the local economy for any reason.
If I were guaranteed a pension of $191,300.00 per year (adjusted for inflation) until I am 80, I wouldn't give a r@t's ass about higher taxes either.
A President's pension currently is $191,300.00 per year, until he is 80 years old.
Obama doesn't have to save a single dollar for his retirement. The rest of us do.
Yes, I believe the “rich” can afford to pay higher taxes THIS year. And, instead of investing in the economy, their dollars will go to the feds.
Next year is a different story. Obama is slowly choking the golden goose, who will lay fewer eggs next year. Since the “rich” have been paying taxes instead of investing in growing the economy, the pie will start to shrink. We will all suffer.
As the philosopher said, “I never got a job from a poor man.” Basic understanding of economics is missing from the majority of the voters.
massive barf alert
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