Skip to comments.Republicans accuse Obama of waging class warfare with millionaire tax plan
Posted on 09/18/2011 9:46:21 AM PDT by americanophile
A top House Republican accused President Obama of appealing to Americans' "fear, envy and anxiety" by pushing a new tax rate on people making more than $1 million annually, saying the "class warfare path" will only hurt the economy.
"Class warfare ... may make for really good politics, but it makes for rotten economics," Rep. Paul Ryan, R-Wis., chairman of the House Budget Committee, told "Fox News Sunday."
The president is planning on proposing the new and higher rate as part of a broader long-term deficit-reduction plan he's unveiling Monday. It will likely include a mix of entitlement reform and new revenue, and will be aimed at the bipartisan "super committee" trying to find about $1.5 trillion in deficit reduction over the next decade.
But Ryan said the millionaire tax provision will undermine economic growth.
"If you tax something more, you get less of it," Ryan said. "If you tax job creators more, you get less job creation. If you tax their investment more, you get less investment."
(Excerpt) Read more at foxnews.com ...
Paul Ryan Ping List! Freepmail me if you want on or off this list.
Always ahead of the curve those insightful GOP'rs, ahead of the curve... /s
“Raise taxes on Millionaires” always translates into raising taxes on the middle class.
If Paul can keep from his dad’s more nutty ideas, he might be an up and comer...
If paying taxes to feed the BIG Government beast is so patriotic and so much fun, why don’t the DemocRATS make paying taxes VOLUNTARY! The ‘RATS and their toadies in the state run “media” keep telling us that people are frustrated and disappointed that they can’t pay more taxes. Let’s do it! Let people VOLUTARILY pay whatever they want to pay! Let their patriotism be their guide. LOL! Yeah. Right.
What’s worse is Obama’s ‘jobs’ bill is seeking put a tax on the non-taxable Municipal Bonds (over 250k), these are State issued. How does that help anything? How bout he reign in his ugly wife’s ugly wardrobe.
Hey ... his union cronies and the Solyndra's of the world need our money (puke)
We can’t fund all the gov’t spending. It is so huge that taxing millionaires at 100% on their income would only pay for half the deficit!
This is Paul Ryan, not Rand Paul.
>>This is Paul Ryan, not Rand Paul.<<
That is what I meant. My fingers got ahead my thinking ahead of.
I think we should push for a plank in the GOP platform to have anyone with “Paul” anywhere in their name to change to something not so frequently encountered... ;)
This new round of spending, using an un collectible tax, will be a new burden the middle class has to pay.
Obama and buffet dont even pay the Bush rates!
He wants to use the un collectible income to buy more votes.
The middle class has to cover the un collectible rich tax gap in revenues.
Buffet owes taxes from each year beginning in 2002.
When he pays he only pays 17%.
The gap in revenue is made up by those of us that dont have the ability to defer,delay hide , or have teams of tax lawyers.
Taxing the rich is like trying to pick up mercury with your fingers - a fun thing I tried as a kid - I am rather old!
I heard Paul Harvey say one time that if all income over 50,000 bucks was taxed at 100 percent it would run the gov’t just a few days. This was in the 70’s. Chances are pretty good that these millionaires have come up with a way to skirt this new tax, even as we speak. And make a few more million as they do.