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Bottom 70 Percent of Families Will Receive More Benefits Than They Pay in Taxes Under Obama Plan
Tax Foundation ^
| September 21, 2009
Posted on 09/25/2009 10:11:32 AM PDT by reaganaut1
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Many Democrats will still try to pay for new spending by taxing the "rich", and many of the "rich" will still vote Democratic. I don't get it.
To: reaganaut1
And to think a few years ago, folks on this board were downplaying the risk of deficits.
2
posted on
09/25/2009 10:12:35 AM PDT
by
DonaldC
(A nation cannot stand in the absence of religious principle.)
To: reaganaut1
Obama will raise so many taxes, you will not be able to keep up with them.
3
posted on
09/25/2009 10:13:06 AM PDT
by
stephenjohnbanker
(Pray for, and support our troops(heroes) !! And vote out the RINO's!!)
To: reaganaut1
4
posted on
09/25/2009 10:15:09 AM PDT
by
boomop1
To: reaganaut1
Even if none of Obama's policies becomes law, the extent of current income redistribution is remarkable: The top-earning 40 percent of families will transfer $826 billion to the bottom 60 percent in 2012. If Obama's policies become law, the federal government will redistribute nearly $1 trillion from the top-earning 30 percent of families to the bottom 70 percent (those earning up to $109,000). Which will have the result that anybody attempting to reduce government will have that 70% being told that doing so will result in their benefits being cut. This is the plan for Dem long-term dominance.
5
posted on
09/25/2009 10:15:23 AM PDT
by
PapaBear3625
(Public healthcare looks like it will work as well as public housing did.)
To: reaganaut1
Benefits! Benefits for Everybody!
6
posted on
09/25/2009 10:16:23 AM PDT
by
uncitizen
To: reaganaut1
When the people find that they can vote themselves money, that will herald the end of the republic. — Benjamin Franklin
To: FreedomProtector
8
posted on
09/25/2009 10:18:21 AM PDT
by
B.O. Plenty
(Give war a chance...)
To: PapaBear3625
Don’t forget the now famous saying by Obama....”Our time has come!” Who do people think he was talking about?
9
posted on
09/25/2009 10:21:12 AM PDT
by
RC2
To: reaganaut1
Liberalism is organized crime, robbing Peter to bribe Paul.
10
posted on
09/25/2009 10:23:16 AM PDT
by
TexasRepublic
(Obama = Jim Jones coercing us into suicide on a national scale)
To: reaganaut1
Many Democrats will still try to pay for new spending by taxing the "rich", and many of the "rich" will still vote Democratic. I don't get it. The rich have tax-exempt, "charitable" foundations from which to buy influence in the Congress and the courts.
This is an example of how the Great Game really works.
11
posted on
09/25/2009 10:24:17 AM PDT
by
Carry_Okie
(Islam offers three choices: surrender, fight, or die.)
To: reaganaut1; CSM
Note to self:
*No overtime pay next spring; you’re not gaining anything compared to what you’re losing in confiscatory taxes from the local, state and federal b@stards.
*Barter and trade for what you need. No spending beyond the very basics for the next 1,213 days.
*Earn as much cash under the table as possible.
*All money out of the market except the small 401K from work that is acting solely as a hedge for now. (See below.) Keep on track with gold and silver purchase/sale plan.
*Increase tax exemptions on W-4 form.
*Increase payments into 401K, medical slush fund, etc. through employer. Make as much of my earnings pre-tax as possible while I meet my few financial obligations.
*CCs are paid off and no car payment, so throw extra on the mortgage each month.
*Buy more ammo.
*Pray.
12
posted on
09/25/2009 10:24:18 AM PDT
by
Diana in Wisconsin
(Save The Earth. It's The Only Planet With Chocolate.)
To: PapaBear3625
It happened under Bush as well. Not defending it, but I blame them all....
13
posted on
09/25/2009 10:24:49 AM PDT
by
Patriotic1
(Dic mihi solum facta, domina - Just the facts, ma'am)
To: reaganaut1
Only problem is this argument is based on a complete mis-understanding of how taxes work.
Everyone pays much more in taxes then they realize. The Govt just collects it from the businesses that make the products. We pay those taxes by paying higher prices for every single good and service we purchase
Also, everyone who works pays payroll and medicare taxes. So the notion that “70%” don't pay taxes” is highly misleading at best.
14
posted on
09/25/2009 10:26:19 AM PDT
by
MNJohnnie
(The 0 regime: harmless as an enemy and treacherous as a friend.)
To: reaganaut1; Jet Jaguar; NorwegianViking; ExTexasRedhead; HollyB; FromLori; ...
15
posted on
09/25/2009 10:27:35 AM PDT
by
Nachum
(The complete Obama list at www.nachumlist.com)
To: Patriotic1
It happened under Bush as well. Not defending it, but I blame them all.... No it did not. Bush did not raise taxes. He cut everyones taxes.
16
posted on
09/25/2009 10:27:35 AM PDT
by
MNJohnnie
(The 0 regime: harmless as an enemy and treacherous as a friend.)
To: Diana in Wisconsin
17
posted on
09/25/2009 10:30:08 AM PDT
by
CSM
(Business is too big too fail... Government is too big to succeed... I am too small to matter...)
To: MNJohnnie
Also, everyone who works pays payroll and medicare taxes. So the notion that 70% don't pay taxes is highly misleading at best. That's not the notion, though. If you pay me $12 for every $100 you make, but I give you back $20 in services, food, and direct cash payments, are you better off for it?
18
posted on
09/25/2009 10:36:33 AM PDT
by
PugetSoundSoldier
(Indignation over the Sting of Truth is the Defense of the Indefensible)
To: reaganaut1
This trend really started rolling when Reagan expanded the EITC against all advice that this very thing would happen. The Gipper blew very few calls in his time, but this was certainly one of them. (Withdrawl of Marines from Lebanon and Sandra Day O’Connor the only others that come to mind)
To: reaganaut1
20
posted on
09/25/2009 10:37:59 AM PDT
by
The Comedian
(Evil can only succeed if good men don't point at it and laugh.)
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