Posted on 11/03/2008 10:50:10 AM PST by kristinn
Barack Obama gave an interview to MTV on Saturday in Nevada that aired this morning. Host 'Sway' posed questions e-mailed by MTV viewers. One questioner asked about Obama's 'spread the wealth' tax plan. After Obama gave his usual bamboozle, Sway asked a follow-up on the matter:
Sway: Just out of curiosity, for those that are being taxed that are making more than $250,000 a year, how much difference would it be from how they are being taxed today?
Obama: Well, right now, they are getting taxed at 36 percent. Under Bill Clinton in the 1990s, they were being taxed at 39.6 percent. You are talking about a 3.6 percent difference, and for the average person who is making half a million, a million dollars, now people like you Sway, that's chump change, that's nothing. But it could make a big difference for that young person who is trying to figure out whether they can go to college or not, if we could give them more of a break or more scholarships or grants to go to college.
Sway: For the record, I don't make that kind of money, so I am going to go ahead and say that.....
College students should not approach these tax hikes from a standpoint of being in college only. Once they are in the workforce, they face the same high taxes at a time when they need as much of their earnings as possible.
If one gets a engineering or medical degree one will be starting out around $50,000 or more. If married and the spouse has the same level of education, then the couple will be at $100,000 in the first year. In a couple of years this couple will be at $150,000 a year.
The last thing young Americans need is higher taxes. At this point in their lives they have alot of debt from college. How do they save to buy a house and have a family.
College is really such a short period of time for ones life, but being in the workforce goes on for decades.
Obama dpeaking his his Millenial constituency...the most ignorant, selfish, and laziest generation in American history.
Obama: The Chump for “Change”
Yup, and $10,000-$20,000 is the legitimate cost of paying for a kid to go to College per year, after you factor out the 100% markup of paying for some other kid with no money to attend. I think half the kids at Harvard are paid for by the endowment + the other half of students paying double. I don’t think Obama paid squat for law school; blacks attend for free.
Remember, that extra 4% will only apply to the income above the higher tax threshold — the higher tax rates aren't average rates, but marginal rates.
My concern is still the marginal tax rate hike will hurt incentives, at both ends of the income scale (at the low end because of subsidy phase-outs), and therefore raise “chump change” in terms of additional revenue to pay for promises made that amount to anything but “chump change.”
I think Obama will have to break some promises here.
I told my Rat boss some time back, "Gotta hand it to you guys, you did something that I didn't think was possible: you nominated someone that makes Hillary look good."
The man is a total SOB. I'm ready to revolt - someone ping me when the revolution begins.
No way....!!
What are you saying...!!??
That can't be...!!!
I see chickens roosting.........
I worked my butt off at work to get everything completed to earn ‘100% of possible bonus’ only to have the greedy government take about half of it,...could have really used the $$ now...the kids activities are getting expensive....this is absurd.
There will be almost zero incentive to work hard with Obama-Pelosi-Reid.
Don’t forget that he also wants to extend the Social Security tax base, so that’s another 6.2% on top of the 3.6%. 10% of your marginal income going away isn’t chump change (and if you’re self-employed that’s 12.4% + 3.6% = 16%).
My kids could all do simple math like this in elementary school. And we might elect a man who thinks that to figure out the percent difference, you just SUBTRACT those numbers from each other? Or maybe he knows that's not right, but he's counting on the ignorance of his audience to help him here.
Maybe I’m nuts, but this guy is so dumb that he doesn’t realize that the middle class will wind up paying for these taxes anyway?
The cost of goods and services are going to go up (as well as unemployment) for every penny he takes in through new income taxes.
Who would have guessed that it would ever come to this?
I worked my way through graduate school as well. I had many days which I was up @ 6:00 to go to work, and wasn't in bed ‘till 2:30 in the morning, with a short nap in the afternoon to survive doing this for weeks on end.
Obama had his college paid for by Dr. Khalid Abdullah Tariq al-Mansour—another person in a long list of very un-American associations...
3.6% of $250,000 is $9,000!
0 thinks $9,000 is chump change?
Change;
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