Raise Taxes On Top 2%... What's Wrong With This Picture?

1. Odumbo wants to raise taxes on the top 2% of earners... the ones who pay the MAJORITY of the income tax.

2. The projected "tax haul from the rich" is $82B. And because of their small number, effectively have NO VOTE!

3. Odumbo's 2013 deficit spending plan is $1.04T.

4. The tax hike is only 8% of the projected deficit. IOW, does not accomplish a damned thing.. other than to harm those who pay the most tax!

Anybody else see "what's wrong with this picture"?

 

Yes. How long before he asks for another tax increase?

 

One of the MAJOR things America NEEDS.. a tax and investment policy which encourages business to hire employees. That be... BROADLY BASED, LOW AND FLAT TAX RATES... maybe a consumption tax, too.

None of those will occur on Odombo's watch. I can't see it happening any time in the next 10 years or so... we'll have to give up on this "progressive tax is fair" BULLSHIT first.... ain't gonna happen any time soon.

Shoot! Even RUSSIA has flat tax. (And they say, "AMERICA IS STUPID TO FOLLOW THE SOCIALIST/MARXIST/COMMUNIST ECONOMIC MODEL WHICH COLLAPSED THE SOVIET UNION"!)

 

What time is it now?

 

Yet... Odumbo is orchestrating it! And like the brain-dead sheeple we are, half of us are cheering it.

 

A little over half actually, most of whom pay little or no federal income tax themselves.

 

Once the republicans cave in, they will cave all the way for the next 4 years... Much much higher taxes of every conceivable nature is coming.

 

Yes. Half of the voters vote, "the other half pay more tax so that I can get more freebies from the government"...

It's what the Founders warned us against... "Tyrannical rule of the majority"... and the "end of the democracy". (Though in our case, "end of the Republic". If I'd have known it was going to end up like this, I would have said FUCK NO to "military service for my country"!)

 

I posted another thread about possibly converting one's Regular IRA to a Roth IRA... for this exact reason.

 

The main reason I didn't convert to a Roth is that I think they will eventually have a "wealth tax".....nothing will be spared, including Roth's.

The biggest pot of money is in retirement accnts and non-tax deffered accounts/assets of the middle class. There is no way they can balance the budget or pay off our debt by taxing "the rich" and they know it. Its simple math.....you have to go where the money is. The real reason they want to raise taxes on the top 2% is because it will make it easier to raise taxes on everyone else.

The wealth tax is coming. It will probably start out as a small tax on your net worth, including your house and retirement accnts. Of course, they will start by only taxing "the rich" so everyone will go along.