Posted on 09/17/2011 10:20:35 PM PDT by Nachum
In his increasingly desperate attempts to pander to a population that has by now entirely given up on the hope, and barely has any change left, Obama is going for broke (or technically the reverse) by setting the class warfare bar just that little bit higher. This time around, his targets are millionaires, who according to the NYT are about to see their taxes soar. Or not: nobody really knows if the proposed "Buffett Rule", affectionately known for crony communist #1, will impact just millionaires income tax, which incidentally is the same as what everyone else is paying, or, far more importantly, their Investment Income, which is where the bulk of America's wealthy income comes from. Which incidentally makes all the sense in the world: two and a half years after Bernanke has been desperately doing everything in his power to raise the "wealth effect" if only for the richest 1% of the US population, it is, from the government's perspective, time for the taxman to come knocking and demand his share of the capital gains. Yet what is lost in this ridiculous proposal are the unintended consequences, which always follow idiotic decisions arising out of central planning, number one of which would be a market crash as those who have paper gains since the market lows of 2009, scramble to lock in the old capital gains tax rate of 15% instead of holding on to paper profits that could end up being as high as 35% (or more): an event that would cut actual income by over 25% should one wait to cash out! And since 25% is substantially more than anything that Twist and QE3 and 4 could hope to achieve, it is all too conceivable that those holding on to profitable positions will have had enough, and
(Excerpt) Read more at zerohedge.com ...
I guess the good news is that he will finally cause a stake to be driven into the heart of socialism and intrusive central planning for at least a generation.
Until our society turns itself around and abandons the concept of college degrees make intelligence we will periodically be devastated by the idiocy of our “best and brightest”. The only question will be the duration of the respite between the periods of suicidal idiocy displayed by the American electorate.
Warren is pretty shrewd. $5 billion into BAC and now waiting for the Marxist to bail BAC and he doubles his investment. But he is for paying the fair share though, yeah, right.
Why? If it’s such an easy lifestyle, why don’t you give it a shot? It easy money, right?
I make my living taking pictures. Now just about everyone has a camera, right? How hard can that be?
Everyone thinks they arecthe hardest worker in show biz.
And hardly anyone is.
-——but fell short of conquering us.-——
I like the Risk thought. The reams and reams of regulations might be considered the armies of occupied territory. That is true if the regulating is followed. If the regulating is ignored and the enforcing lawyers are crippled and disabled, the effort will fail. If the sheeple follow the regulating, he has succeeded.
The people need to follow his precedent. If you don’t like the law, disregard it
We must become a nation of men rather than one of laws
“In my entire life I have never hated someone, I have loathed a few but I can tell you barry is about to drive me to hate.”
Forget hate, get to my despise level.
Hey Barry, here is a little question for you and Mr. Barf...I work for a large company...one with many shares of stock outstanding and therefore in theory a bunch of individual owners. I have contributed to my 401 for many years. Now, when one of the “owners” like Mr. Barf decides to sell their shares, they pay a 15% tax on their gains. Meanwhile, when I begin drawing down my 401, money that has been invested in my retirement for many years, I have to pay the wage rates on those withdrawals which far exceed the rate of 15% that Mr. Barf pays. Splain that to me Barry and also explain why you are not proposing to make us even on our rate of taxes for investments. Come on Barry, you can do it or have Mr. Barf blow an answer into your ear.
Despise doesn’t even do it! What word is next? I’m so far beyond hate and despise, I’m at a loss for words.
Revile maybe. Frankly my vocabulary ran out of words for how I feel about this malicious being.
Who defines “unfair”?
Buffett To Receive First Waiver From Buffett Rule
Not one more red cent for this bloated, unconstitutional socialist government!
Republicans will hold the line on taxes until they get back in power.
Warren is a ROBBER!
I like your analogy as well! I grew up thinking of the US as a free country; especially compared to the Soviet-dominated world, the Red Chinese dominated sphere of influence, and the 3rd world dictatorships.
Now, it seems we (red states USA) have perhaps more personal freedoms in common with lawless 3rd world countries. Most of Europe, and even Australia and Canada have considerably less desireable gun laws, etc.
We’re the last bastion that isn’t quite yet a lawless region. Weird, how fast it all happened!
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.