Why Obama can't spread the weath around
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Why Obama can't spread the weath around
| Thu, 10-16-2008 - 10:36am |
The problem is Obama will take $1 from Joe the Plumber and maybe end up giving a few pennies to someone in need. Big government doesn't work. When Carter left the White House he left a double digit jobless rate and high inflation. Reagan cut taxes across the board and jobs crew and inflation fell, meanwhile federal tax revenues ONLY dropped 1%. Obama says he's going to return to the Clinton/Reagan tax rates but that's not true, he's going to significantly increase payroll taxes and this will double the impact of his increase in the top marginal tax rate.
Pennsylvania Mom
http://openlettertobarack.blogspot.com/

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It amazes me that Sen. McCain is trying to somehow get a majority of the American people (middle class) to relate to Joe 'The Plumber's' stance in terms of higher taxes. How many of you (middle class) can honestly say during the last eight years
***Reagan cut taxes across the board and jobs crew and inflation fell, meanwhile federal tax revenues ONLY dropped 1%.***
You forgot to mention that Reagan cut taxes and increased spending, something Republicans LOVE to do.
>>>The fact that anyone in a much better financial state would elect Sen. McCain due to a 3-4% tax increase is ludicrous. Don’t get me wrong I understand they earned such through hard work but somewhere down the line they were given a leg up. So if Americans like Joe cannot look at the bigger picture and make small contributions to less fortunate Americans, how on earth do we intend to realize the all glorious American dream?????? <<<<
It's not a 4% increase. He will raise the marginal rate and increase payroll taxes on this group of upper middle class citizens. It's hard to see that because when he talks about the marginal tax rate he doesn't mention the payroll tax change, and when he talks about how unfair payroll taxes are he doesn't mention they already pay the highest marginal rate.
Last year my family paid $144,000 in Federal income tax. We had no loopholes. Our standard deductions were limited (capped). It was the first time in 3 years we didn't pay more tax due to AMT. We can afford to do our share but the combined impact of Obama's tax changes would be like me taking 12 family vacations. I don't take 12 family vacations each year and don't have that kind of ability to trim my budget overnight. Go figure out what 12% of your families take home pay is, and tell me if that's a lot to you. It's a lot to me. I'm not Warren Buffet.
Obama isn't going to give that money to you anyway. He's going to take it from me and more than 1/2 will be wasted by the government trying to figure out where to put it and maybe some of it will get to you in the end, a little bit. A huge number of people in this country don't pay taxes but they will get money from the government once I am taxed more. This is welfare for the middle class. And it won't be enough to get you to the upper middle class, where you might start a business, create jobs or become fully responsible for funding your children's entire education. It's a bad plan.
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People better be able to relate to their employers in terms of the effects of higher taxes. I think that's called cutting your nose of to spite your face.
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Why do you assume that everyone who's "climbed the ladder" was given a leg up? The people I know who've made that climb did it by showing up to work everyday, doing their job well, and making smart decisions about when to change jobs and which jobs to take. No leg up.
Political Primer 101
Spending bills originate in Congress, not the Executive Branch.
One can't blame Carter entirely for the inflation back then. During Nixon's 'reign' house prices went way up. I bought a new house in '72 sold it two years later & gained 100% profit. Carter was caught-up
The Democrats controlled Congress during the Reagan years.
Republicans controlled the Senate..
dablacksox
Cynic: a blackguard whose faulty vision sees things as they are, not as they ought to be.---Ambrose Bierce, The Devil's Dictionary.
dablacksox
Cynic: a blackguard whose faulty vision sees things as they are, not as they ought to be.---Ambrose Bierce, The Devil's Dictionary.
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