Quote:
Originally Posted by VRM
Bill,
I'm not a big fan of Obama or McCain. However, Obamas tax plan will be better for most families that make under $250K. That is more than 95% of the US.
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What are you smoking?
Hope and change ain’t cheap, especially if you let a Marxist set the price. I cannot even imagine what his capital gain/dividend tax increases, which are even more draconian, will do to the stock market. Hopefully enough high-income professionals will realize that this is not all fun and games, but it will hit them like a ton of bricks. They can’t all be like Warren Buffett who after a lifetime of structuring everything around paying low taxes complains he is taxed at a lower rate than his secretary. Obama is a clever and dangerous character, he's structuring his definition of “rich” so that enough of the “poor” can salivate at the thought of stealing from them and vote Obama in - you are probably one of the salivators.
Some BO quotes......
"We're going to reshape America in a way that is less mean-spirited and more generous."
"That’s just how white folks will do you."
"We've got to make sure that people who have more money help the people who have less money."
"You go into some of these small towns in Pennsylvania, and like a lot of small towns in the Midwest, the jobs have been gone now for 25 years and nothing's replaced them. And they fell through the Clinton administration, and the Bush administration, and each successive administration has said that somehow these communities are gonna regenerate and they have not. And it's not surprising then they get bitter, they cling to guns or religion or antipathy to people who aren't like them or anti-immigrant sentiment or anti-trade sentiment as a way to explain their frustrations."
"I am absolutely certain that generations from now, we will be able to look back and tell our children that this was the moment when we began to provide care for the sick and good jobs to the jobless;
this was the moment when the rise of the oceans began to slow and our planet began to heal."
"The truth is, in order to get things like universal health care and a revamped education system, then someone is going to have to give up a piece of their pie so that someone else can have more."
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There is simply not sufficient people or families making $250K and up to pay for all of BO's programs - you had better hold onto your wallet....according to moneycentral - 75% of the households in the U.S. do not make $57,343 a year.
Given your thought procss, wouldn't you be happier is Venezula?
Also, some input from Larry Kudlow.....
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The Obama spend-o-meter is now up around $800 billion. And tax hikes on the rich won’t pay for it. It’s the middle class that will ultimately shoulder this fiscal burden in terms of higher taxes and lower growth.
This isn’t free enterprise. It’s old-fashioned-liberal tax, spend, and regulate. It’s plain ol’ big government. The only people who will benefit are the central planners in Washington.
Obama would like voters to believe that he’s the second coming of JFK. But with his unbelievable spending and new-government-agency proposals he’s looking more and more like Jimmy Carter. His is a “Grow the Government Bureaucracy Plan,” and it’s totally at odds with investment and business.
Obama says he wants U.S. corporations to stop “shipping jobs overseas” and bring their cash back home. But if he really wanted U.S. companies to keep more of their profits in the states he’d be calling for a reduction in the corporate tax rate. Why isn’t he demanding an end to the double-taxation of corporate earnings? It’s simple: He wants higher taxes, too.
The Wall Street Journal’s Steve Moore has done the math on Obama’s tax plan. He says it will add up to a 39.6 percent personal income tax, a 52.2 percent combined income and payroll tax, a 28 percent capital-gains tax, a 39.6 percent dividends tax, and a 55 percent estate tax.
Not only is Obama the big-spending candidate, he’s also the very-high-tax candidate. And what he wants to tax is capital."