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Obama's Plan: 58% Tax Rates
Townhall.com ^ | 07.19.2009 | Kevin McCullough

Posted on 07/19/2009 5:31:11 AM PDT by jodiluvshoes

I was asked this past Thursday morning on Fox News about the impact of President Obama spending the day in New Jersey campaigning for the immensely unpopular sitting governor Jon Corzine. I was asked if it was a good use of the President's time. I was asked if there were bigger things he should be focused on. I was asked if it might not even backfire against Corzine or other candidates in the immediate electoral future. Obama dedicated not just a speech, but the entire day to the Corzine cause.

My response is simple, "It's what he has to do."

President Obama now finds himself facing a political divorce on his policies while most Americans still find him a likable guy.

"But job performance counts, words mean things, and elections have consequences," I proffered.

And when the most read New York daily newspaper plasters its front page with the new startling fact that the marginal tax rates for small businesses will be jumping from 35% to 58%, we can understand one other important truth. President Obama is hurting working class people.

(Excerpt) Read more at townhall.com ...


TOPICS: Business/Economy; Editorial; Extended News; Government
KEYWORDS: barackobama; economy; incometax; marginaltaxrates; smallbusinesses; taxes; taxincreases
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1 posted on 07/19/2009 5:31:11 AM PDT by jodiluvshoes
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To: jodiluvshoes

Big Old Bump


2 posted on 07/19/2009 5:37:47 AM PDT by GeronL (UnitedCitizen.Blogspot.Com --------- United Citizens Nation! ------------- Join Today!)
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To: jodiluvshoes

The marginal rate here in Pennsylvania for average income individuals already approached that.

If you figure someone in the 25% tax bracket, add in 15.3% FICA, 3.07% state, 3% city and school- totals out to 46.37%.

Sky high taxes are already a big problem.


3 posted on 07/19/2009 5:39:27 AM PDT by I_Like_Spam
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To: jodiluvshoes

THIS is the change I have come to expect from theOne.

so how many out there would still vote for this guy?


4 posted on 07/19/2009 5:39:56 AM PDT by tioga
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To: jodiluvshoes

bambi was bought and paid for by the Goldman Sachs mafia, and Corzine is a member.

voila


5 posted on 07/19/2009 5:42:02 AM PDT by silverleaf (If you can't be a good example, at least don't be a horrible lesson)
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To: jodiluvshoes

Obama will be more toxic than the worst of the toxic assets that the govt took over earlier this year.

It will be a very lonely remaining three years for Zer0 as his political friends say goodbye.

The politicians in DC will dump him to preserve their own careers.


6 posted on 07/19/2009 5:46:59 AM PDT by bestintxas
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To: bestintxas

I don’t many people view Obeyme as a “likable guy”,either


7 posted on 07/19/2009 5:48:36 AM PDT by MissDairyGoodnessVT (Mac Conchradha - "Skeagh mac en chroe"- Skaghvicencrowe)
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To: tioga

Those who pay no/little taxes would still vote for him. When the number of people who are dependent on the government for their next meal exceeds 50% those of us who have income are doomed to support them. I think that we’ve crossed that line...


8 posted on 07/19/2009 5:50:24 AM PDT by NCjim ("Lies have to be covered up, truth can run around naked." - Johnny Cash)
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To: jodiluvshoes
If a small business owner has revenue of $250,000 for a year of business and is forced to cough up the current top tax rate of 35%, said business owner is left with $162,000.

It may be a nit, but one of my pet-peeves is an "expert" that confuses revenue with profit. A small business does not get taxed on revenue-- it gets taxed on profit. Just had to get that off my chest... hh
9 posted on 07/19/2009 5:50:34 AM PDT by hoosier hick (Note to RINOs: We need a choice, not an echo....Barry Goldwater)
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To: jodiluvshoes

No, the American people, a disappoint lot of souls, do think he is likable: that was one of the reasons for his nomination and election. They also really seem to believe that he is “on their side” and that “he cares”.


10 posted on 07/19/2009 5:50:43 AM PDT by Theodore R.
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To: jodiluvshoes

We need to deal with the fact that the Wall St fantasy world crowd now expects the average working Joe to sacrifice for the consequence of their indiscretion


11 posted on 07/19/2009 5:54:12 AM PDT by mo
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To: NCjim

On that note, see my tagline.


12 posted on 07/19/2009 6:01:09 AM PDT by FreedomPoster (No Representation without Taxation!)
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To: FreedomPoster

I’d vote for that!


13 posted on 07/19/2009 6:05:35 AM PDT by NCjim ("Lies have to be covered up, truth can run around naked." - Johnny Cash)
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To: tioga
so how many out there would still vote for this guy?

Untold MILLIONS, I am afraid.

14 posted on 07/19/2009 6:06:39 AM PDT by Puppage (You may disagree with what I have to say, but I shall defend to your death my right to say it)
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To: Theodore R.

What’s so likeable?


15 posted on 07/19/2009 6:08:31 AM PDT by LALALAW (one of the asses whose sick of our "ruling" classes)
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To: tioga
"so how many out there would still vote for this guy?"

Given that most of the people who voted for him don't pay taxes or don't even exist I'd say enough of them to get him re-elected. He still has to fall some to become unelectable.

16 posted on 07/19/2009 6:09:18 AM PDT by hometoroost (Torture? Would you rather do 5 years at Gitmo or 5 hours with the Muslims?)
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To: jodiluvshoes
Image Hosted by ImageShack.us
17 posted on 07/19/2009 6:27:56 AM PDT by cripplecreek (Seniors, the new shovel ready project under socialized medicine.)
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To: bestintxas
No one will leave him. Pelosi will be easily reelected and Reid will win by 2%. They will keep on whipping the reluctant Dems and blackmailing the Reps.
18 posted on 07/19/2009 6:32:22 AM PDT by mad_as_he$$ (Nemo me impune lacessit)
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To: jodiluvshoes

I don’t know about that. I hear Dems reminding us periodically that during WWII, the tax rate was in the 90% range. I suspect that is their goal. Afterall, if you can get away with that, why would you want people to be able to keep more?


19 posted on 07/19/2009 6:51:56 AM PDT by Brilliant
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To: mo

We need to deal with the fact that the Wall St fantasy world crowd now expects the average working Joe to sacrifice for the consequence of their indiscretion


It’s crazy isn’t it? The Rich and the poor are feeding off of the middle class.


20 posted on 07/19/2009 6:55:41 AM PDT by CommieCutter (http://www.pbs.org/wgbh/nova/programs/ht/qt/3013_08.html)
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