Skip to comments.Obama Gets the Numbers Wrong In His Tax Plan! (Nothing new! Obama always gets the numbers wrong)
Posted on 09/19/2011 2:34:35 PM PDT by tobyhill
The justification for President Obama's new proposed tax on the wealthy is wrong on the numbers. Despite the president's claims, millionaires don't pay lower tax rates than middle class workers. His proposed surcharge on capital gains and dividend taxes will raise already high tax rates on high income individuals and force even more investment outside the United States. The so-called "Buffett rule" is based on Warren Buffett's claim:
"The 400 of us [here] pay a lower part of our income in taxes than our receptionists do, or our cleaning ladies, for that matter. If youre in the luckiest 1 per cent of humanity, you owe it to the rest of humanity to think about the other 99 per cent.
(Excerpt) Read more at foxnews.com ...
Dear President Obama - allow me to introduce you to the Earned Income Credit, which the receptionist and cleaning lady are probably utilizing to allow them to MAKE money from taxes rather than paying in a single penny.
Our founders rebelled against "Taxation without representation."
Today, the problem is "Representation without taxation." It's just as bad and just as potentially destructive. When less than 50% of the voters pay taxes, there is no representation for taxpayers any more. We've crossed that tipping point in the past year, mostly due to the bad economy taking even more people out of paying income taxes and into dependency on food stamps, unemployment, welfare and other "benefits."
This will not end well for this country if the elections in 2012 don't significantly change our course.
Barbie Obama says: “Math is hard.”
It’s not about math, it’s about class warfare. BTW, Warren Buffett needs just to GO AWAY, I’m tired of hearing what that old socialist has to say about everything.
Seriously, either this guy is at 3d grade math level, or he knows exactly what he is doing I think the latter is true. The change he promised is a change to Socialism. Everything he has done and said screams Socialism.
This Administration is Manson Redux.
Double down on 2012 in 2012. Route the vipers OUT!
Nah, it’s about wealth transfer from the middle class to union thugs, and then transfer to Dem pol coffers.