October 18, 2008

Soak the rich!

Whopaystaxes.jpg

These are the latest figures from the IRS according to the National Taxpayers Union.

Obama says he's only going to raise taxes on people who make $250,000 or more. But he also says he'll roll back the Bush tax cuts on the top 5 percent. Notice that to be in the top 5% you need an Adjusted Gross Income of $153,542. Now a taxpayer that has an AGI of $150k is doing quite well, but is this person rich? Well that depends. That money goes a lot further in Wyoming than Manhattan. Do you know someone who you suspect has an AGI in the $150k range? Would you say they are "rich"? Or do you think that besides having a few more toys they basically live the same way you do, trying to make ends meet? Do you think they keep a pot of gold in their closets or do you think that less money in their pockets means less money they can put in the pockets of waiters, dry cleaners, car washers, etc.?

Also notice that if you have an AGI of $108k or more that you are part of the the 10% of the taxpaying population that pays 71% of the federal income taxes.

Posted by Henry Louis Gomez at October 18, 2008 02:31 AM

Comments

I'll never understand how stupid someone has to be to want to give more of their earned income to an entity that, with minor exceptions, has doen such a piss-poor job of spending it. This is mainly directed at the millionaires and billionaires who are willingly supporting Obama. Incredible.

Posted by: George L. Moneo [TypeKey Profile Page] at October 18, 2008 07:51 AM

I'm convinced the Obama crowd are a bunch of lazy putas who want a hand out from the Gov't...I refuse to support crack heads and any other bullshit program Obama and pigs come up with.

Posted by: readytoshoot [TypeKey Profile Page] at October 18, 2008 08:44 AM

For the Barak Hussein androids this here says it all:
http://www.ibdeditorials.com/CartoonPopUp.aspx?id=254432863424008

Posted by: Doorgunner [TypeKey Profile Page] at October 18, 2008 11:00 AM

Cooked goose ... But then what is the illegal going to do when he can't get ajob, or the the or the ...

Communism doesn't fail, it just runs out of pother people's money to give away. Ask FDR why the 'new deal didn't work, for details.

Me I am headed over to be first in the free pies line.

Posted by: bill-tb [TypeKey Profile Page] at October 18, 2008 12:08 PM

A two-income family of professionals making $75,000 each, with two kids and a mortgage living in a major metropolitan area is far from "rich". By any other definition, they would be considered middle class (if in the upper end of it). Precisely the position most people can reasonably strive to be in if they work hard. Not only that, they obviously pay more than their fair share of taxes as shown by the table.

These are the people Obama is targeting. Amazing.

Posted by: Robert [TypeKey Profile Page] at October 18, 2008 01:27 PM

Obama says he wants to give 95% of Americans a tax cut. About 1/3 pay no income tax now but file for credit. Under the Obama plan that would rise to about 40% and all the people paying nothing would get a "tax cut". Obama's plan isn't tax reform, it's welfare using the tax code. You can be assured that enough loopholes will be added or retained that Ted Kennedy, John Kerry, Warren Buffet, George Soros etc. will game the code for themselves and their friends.

When the budget crunch comes, Obama will claim that a national emergency makes his tax plan unworkable and that he will have to reluctantly ask the middle class to do their part. none of the below zero "tax cuts" will be rescinded but if you make above minimum wage for a full time job, watch out.

Obama has proposed about a trillion dollars of new spending, carefully divided up so that the total can be avoided. He has a tax plan that his friends in Congress will implement after carefully protecting their campaign contributers, thus making it essentially revenue neutral. Even if the entire Defense Department and Homeland Security Dept. were abolished Obama's plans raise the deficit.

I remain totally unconvinced that John McCain will be any more loyal to the Republican Party and to conservatism than he has ever been. And I live in California, where my Presidential vote is meaningless, but Obama has just about convinced me that I cannot afford the luxury of a protest vote. If "none of the above" had a chance of winning, I'd be at campaign headquarters working right now. But it doesn't, so I'll either vote McCain or leave it blank. Both are bad choices, but they're all I've got.

Posted by: Ken Hahn [TypeKey Profile Page] at October 18, 2008 04:34 PM


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