OT – Inside Obama’s “Tax Cut” Can you say Redistribution!

[kev374]

Obama will:
– Tax small businesses threatening their viability
– Increase payroll taxes
– When he says top 5% what he actually means is middle class folks like me who make over $75,000/yr.

[Coronita]

[quote=TheBreeze]This a near-heroic tax plan being proposed by Obama. Instead of kowtowing to the top 5% and their campaign contributions, he is going right at them — head on with a tax increase.

Given that it is the top 5% who have benefited most over the last 8 years of Chimpyism, and given that the top 5% have raped this country over the last 8 years and have caused an economic crisis, actually making them pay their fair share of taxes is the right thing to do.

God bless Obama. He is finally going to give the super-rich like Angelo Mozilla some payback after all the damage they have done.

Hopefully Obama can push through some type of wealth tax after he gets his initial income tax provisions passed. Maybe something like 5% a year on the assets of the wealthiest 5% of Americans. It’s the right thing to do.
[/quote]

Except the bulk of the taxes come from W-2 earnings. How many CEO’s have $0 salaries but are compensated with equities and deferred compensation? For example, do you pay social security taxes on capital gains? Also, if we were to remove the cap on social security taxes on income, who is this really hurting? I can see this already. Across the nation, CEO’s are going to (for the interest of the company) starting taking a $0 salary…(Of course the equity will be doubled, and especially at these market prices, that’s even more reward for the future).

Think about it.

Also, while there are a lot of CEO’s that are crooks, not all of them don’t deserve what they have.

Would you be looking at your iphone, or macbooks if it were not for steve jobs? You think anyone else can really do his job (no pun intended)?

[Coronita]

[quote=TheBreeze]This a near-heroic tax plan being proposed by Obama. Instead of kowtowing to the top 5% and their campaign contributions, he is going right at them — head on with a tax increase.

Given that it is the top 5% who have benefited most over the last 8 years of Chimpyism, and given that the top 5% have raped this country over the last 8 years and have caused an economic crisis, actually making them pay their fair share of taxes is the right thing to do.

God bless Obama. He is finally going to give the super-rich like Angelo Mozilla some payback after all the damage they have done.

Hopefully Obama can push through some type of wealth tax after he gets his initial income tax provisions passed. Maybe something like 5% a year on the assets of the wealthiest 5% of Americans. It’s the right thing to do.
[/quote]

Except the bulk of the taxes come from W-2 earnings. How many CEO’s have $0 salaries but are compensated with equities and deferred compensation? For example, do you pay social security taxes on capital gains? Also, if we were to remove the cap on social security taxes on income, who is this really hurting? I can see this already. Across the nation, CEO’s are going to (for the interest of the company) starting taking a $0 salary…(Of course the equity will be doubled, and especially at these market prices, that’s even more reward for the future).

Think about it.

Also, while there are a lot of CEO’s that are crooks, not all of them don’t deserve what they have.

Would you be looking at your iphone, or macbooks if it were not for steve jobs? You think anyone else can really do his job (no pun intended)?

[Coronita]

[quote=TheBreeze]This a near-heroic tax plan being proposed by Obama. Instead of kowtowing to the top 5% and their campaign contributions, he is going right at them — head on with a tax increase.

Given that it is the top 5% who have benefited most over the last 8 years of Chimpyism, and given that the top 5% have raped this country over the last 8 years and have caused an economic crisis, actually making them pay their fair share of taxes is the right thing to do.

God bless Obama. He is finally going to give the super-rich like Angelo Mozilla some payback after all the damage they have done.

Hopefully Obama can push through some type of wealth tax after he gets his initial income tax provisions passed. Maybe something like 5% a year on the assets of the wealthiest 5% of Americans. It’s the right thing to do.
[/quote]

Except the bulk of the taxes come from W-2 earnings. How many CEO’s have $0 salaries but are compensated with equities and deferred compensation? For example, do you pay social security taxes on capital gains? Also, if we were to remove the cap on social security taxes on income, who is this really hurting? I can see this already. Across the nation, CEO’s are going to (for the interest of the company) starting taking a $0 salary…(Of course the equity will be doubled, and especially at these market prices, that’s even more reward for the future).

Think about it.

Also, while there are a lot of CEO’s that are crooks, not all of them don’t deserve what they have.

Would you be looking at your iphone, or macbooks if it were not for steve jobs? You think anyone else can really do his job (no pun intended)?

[Coronita]

[quote=TheBreeze]This a near-heroic tax plan being proposed by Obama. Instead of kowtowing to the top 5% and their campaign contributions, he is going right at them — head on with a tax increase.

Given that it is the top 5% who have benefited most over the last 8 years of Chimpyism, and given that the top 5% have raped this country over the last 8 years and have caused an economic crisis, actually making them pay their fair share of taxes is the right thing to do.

God bless Obama. He is finally going to give the super-rich like Angelo Mozilla some payback after all the damage they have done.

Hopefully Obama can push through some type of wealth tax after he gets his initial income tax provisions passed. Maybe something like 5% a year on the assets of the wealthiest 5% of Americans. It’s the right thing to do.
[/quote]

Except the bulk of the taxes come from W-2 earnings. How many CEO’s have $0 salaries but are compensated with equities and deferred compensation? For example, do you pay social security taxes on capital gains? Also, if we were to remove the cap on social security taxes on income, who is this really hurting? I can see this already. Across the nation, CEO’s are going to (for the interest of the company) starting taking a $0 salary…(Of course the equity will be doubled, and especially at these market prices, that’s even more reward for the future).

Think about it.

Also, while there are a lot of CEO’s that are crooks, not all of them don’t deserve what they have.

Would you be looking at your iphone, or macbooks if it were not for steve jobs? You think anyone else can really do his job (no pun intended)?

[Coronita]

[quote=TheBreeze]This a near-heroic tax plan being proposed by Obama. Instead of kowtowing to the top 5% and their campaign contributions, he is going right at them — head on with a tax increase.

Given that it is the top 5% who have benefited most over the last 8 years of Chimpyism, and given that the top 5% have raped this country over the last 8 years and have caused an economic crisis, actually making them pay their fair share of taxes is the right thing to do.

God bless Obama. He is finally going to give the super-rich like Angelo Mozilla some payback after all the damage they have done.

Hopefully Obama can push through some type of wealth tax after he gets his initial income tax provisions passed. Maybe something like 5% a year on the assets of the wealthiest 5% of Americans. It’s the right thing to do.
[/quote]

Except the bulk of the taxes come from W-2 earnings. How many CEO’s have $0 salaries but are compensated with equities and deferred compensation? For example, do you pay social security taxes on capital gains? Also, if we were to remove the cap on social security taxes on income, who is this really hurting? I can see this already. Across the nation, CEO’s are going to (for the interest of the company) starting taking a $0 salary…(Of course the equity will be doubled, and especially at these market prices, that’s even more reward for the future).

Think about it.

Also, while there are a lot of CEO’s that are crooks, not all of them don’t deserve what they have.

Would you be looking at your iphone, or macbooks if it were not for steve jobs? You think anyone else can really do his job (no pun intended)?

[EconProf]

A statistical quirk gives all of us who follow income distribution patterns a misleading picture of “the rich”. Obama and other politicians artfully take advantage of it.
Think of the life cycle of many small businesses (btw, this also applies to long-term real estate investments): The entrepreneur builds the business over several decades, struggling at first (often earning less than his workers), but eventually learning, growing, building a valuable and saleable asset. The struggle is worth it because the goal all along is to sell the business before retirement & reap a big capital gain.
Assuming it works and the business did not fail during the lean years, a big capital gain is the real reward for all that effort. What do the government’s statitics say about this individual in the year he sells out? He’s rich! Maybe makes a million, maybe makes Obama’s threshold quarter-million, and is taxed accordingly. His lifetime income may be quite modest. But government figures, every year, portray these entrepreneurs & RE investors as fat cats because of an accident of the calendar. Gullible voters fall for a populist message as a result.

[EconProf]

A statistical quirk gives all of us who follow income distribution patterns a misleading picture of “the rich”. Obama and other politicians artfully take advantage of it.
Think of the life cycle of many small businesses (btw, this also applies to long-term real estate investments): The entrepreneur builds the business over several decades, struggling at first (often earning less than his workers), but eventually learning, growing, building a valuable and saleable asset. The struggle is worth it because the goal all along is to sell the business before retirement & reap a big capital gain.
Assuming it works and the business did not fail during the lean years, a big capital gain is the real reward for all that effort. What do the government’s statitics say about this individual in the year he sells out? He’s rich! Maybe makes a million, maybe makes Obama’s threshold quarter-million, and is taxed accordingly. His lifetime income may be quite modest. But government figures, every year, portray these entrepreneurs & RE investors as fat cats because of an accident of the calendar. Gullible voters fall for a populist message as a result.

[EconProf]

A statistical quirk gives all of us who follow income distribution patterns a misleading picture of “the rich”. Obama and other politicians artfully take advantage of it.
Think of the life cycle of many small businesses (btw, this also applies to long-term real estate investments): The entrepreneur builds the business over several decades, struggling at first (often earning less than his workers), but eventually learning, growing, building a valuable and saleable asset. The struggle is worth it because the goal all along is to sell the business before retirement & reap a big capital gain.
Assuming it works and the business did not fail during the lean years, a big capital gain is the real reward for all that effort. What do the government’s statitics say about this individual in the year he sells out? He’s rich! Maybe makes a million, maybe makes Obama’s threshold quarter-million, and is taxed accordingly. His lifetime income may be quite modest. But government figures, every year, portray these entrepreneurs & RE investors as fat cats because of an accident of the calendar. Gullible voters fall for a populist message as a result.

[EconProf]

A statistical quirk gives all of us who follow income distribution patterns a misleading picture of “the rich”. Obama and other politicians artfully take advantage of it.
Think of the life cycle of many small businesses (btw, this also applies to long-term real estate investments): The entrepreneur builds the business over several decades, struggling at first (often earning less than his workers), but eventually learning, growing, building a valuable and saleable asset. The struggle is worth it because the goal all along is to sell the business before retirement & reap a big capital gain.
Assuming it works and the business did not fail during the lean years, a big capital gain is the real reward for all that effort. What do the government’s statitics say about this individual in the year he sells out? He’s rich! Maybe makes a million, maybe makes Obama’s threshold quarter-million, and is taxed accordingly. His lifetime income may be quite modest. But government figures, every year, portray these entrepreneurs & RE investors as fat cats because of an accident of the calendar. Gullible voters fall for a populist message as a result.

[EconProf]

A statistical quirk gives all of us who follow income distribution patterns a misleading picture of “the rich”. Obama and other politicians artfully take advantage of it.
Think of the life cycle of many small businesses (btw, this also applies to long-term real estate investments): The entrepreneur builds the business over several decades, struggling at first (often earning less than his workers), but eventually learning, growing, building a valuable and saleable asset. The struggle is worth it because the goal all along is to sell the business before retirement & reap a big capital gain.
Assuming it works and the business did not fail during the lean years, a big capital gain is the real reward for all that effort. What do the government’s statitics say about this individual in the year he sells out? He’s rich! Maybe makes a million, maybe makes Obama’s threshold quarter-million, and is taxed accordingly. His lifetime income may be quite modest. But government figures, every year, portray these entrepreneurs & RE investors as fat cats because of an accident of the calendar. Gullible voters fall for a populist message as a result.

[meadandale]

http://elections.foxnews.com/2008/10/13/obama-plumber-plan-spread-wealth/

Wealth redistribution at its finest…

[meadandale]

http://elections.foxnews.com/2008/10/13/obama-plumber-plan-spread-wealth/

Wealth redistribution at its finest…

[meadandale]

http://elections.foxnews.com/2008/10/13/obama-plumber-plan-spread-wealth/

Wealth redistribution at its finest…

[meadandale]

http://elections.foxnews.com/2008/10/13/obama-plumber-plan-spread-wealth/

Wealth redistribution at its finest…

[Author]

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