Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

White House: Millionaire tax isn’t enough
Yahoo ^

Posted on 10/07/2011 12:25:45 PM PDT by Sub-Driver

White House: Millionaire tax isn’t enough Neil Munro -- The Daily Caller 39 mins ago

President Obama wants tax increases on the wealthy, regardless of whether the Democrats’ proposed millionaire tax becomes law, White House spokesman Jay Carney said Friday.

“The president’s position has not changed” since he called for increased tax rates on individuals earning more than $250,000 per year, and for adoption of the “Buffett Rule,” Carney said during his midday press conference.

Under the still-vague “Buffett Rule,” named for multi-billionaire investor Warren Buffett, the government would ensure wealthy people could not use current features of the tax code — such as the relatively low rate on capital gains income — to pay a lower tax rate than ordinary wage earners.

The Senate’s newly proposed 5.6 percent levy on taxpayers earning more than $1 million annually is “apples and oranges” to the president’s tax proposals, Carney said.

“Everyone [should] pay their fair share … it is simply a matter of making sensible choices,” he said.

Carney’s comments came a day after Obama said he was “comfortable” with the Democrats’ millionaire tax.

Democratic Senators from wealthy states have discarded Obama’s $250,000-cutoff proposal, instead pushing for a surtax on millionaires. This approach helpfully positions the White House to run a populist campaign against Wall Street while shielding most of president Obama’s upper-income supporters and donors in the professional and business sectors.

On Thursday, for example, New York Democratic Sen. Chuck Schumer described families who earned $250,000 as “firmly” in the middle class. “They are not rich, and in large parts of the country, that kind of income does not get you a big home or lots of vacations or anything else that’s associated with wealth in America,” he said, according to the New York Post.

(Excerpt) Read more at old.news.yahoo.com ...


TOPICS: Breaking News; News/Current Events; Politics/Elections
KEYWORDS: 0cola4unionteachers; 0colas4congress; 0colas4fedemployees; 0colas4obama; bhofascism; bhosocialism; bloodoftyrants; buffettrule; corruption; democrats; donttreadonme; fairshare; fedzilla; fraud; govtabuse; liberalfascism; makesorospay; marxism; obama; obamatruthfile; socialism; socialistdemocrats; spreadthewealth; starvethebeast; stealthewealth; taxcheatparty; taxes; taxtherich; tyranny
Navigation: use the links below to view more comments.
first previous 1-2021-4041-6061-78 next last
To: sten
CUT GOVERNMENT SPENDING NOW!
it must not exceed 90% of the previous years tax revenues.

Very similar to something I suggested here a while back. Stop basing expenditures on what you hope to get in, base it on the recent track record. Given the length of the budget cycle, skip last year and use a trend encompassing 3 years before that.

Oh stupid me... our government doesn't even do budgets anymore. They just wing it. /slapping head for being foolish

21 posted on 10/07/2011 12:47:59 PM PDT by ken in texas
[ Post Reply | Private Reply | To 9 | View Replies]

To: Sub-Driver
What Obama fails to realize is that many people who report incomes of over $250,000 are owners of small businesses who report business earnings on their personal income tax. This is a whole lot different than someone with a $250,000 salary. Upping taxes on these so called "rich" will penalize small businesses who are the largest source of employment in the country. With the inevitable inflation that will result from Obama's economic policies a lot of two income households may well hit this $250,000 mark as well.

Why Obama has declared a jihad on anyone who makes in his belief too much money can only be explained by him being a Marxist.

22 posted on 10/07/2011 12:50:10 PM PDT by The Great RJ ("The problem with socialism is that pretty soon you run out of other people's money" M. Thatcher)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Jim Robinson

An idiot voted by American idol idiots.

Jim check your mail when you get a chance please.


23 posted on 10/07/2011 12:51:35 PM PDT by manc (Beckett08 an anti war Answer troll who had to re-register. don't feed the troll, they'll send PM's)
[ Post Reply | Private Reply | To 10 | View Replies]

To: broken_arrow1

George Bernard Shaw once said “A government that robs Peter to pay Paul can always depend on the support of Paul”.


24 posted on 10/07/2011 12:51:57 PM PDT by broken_arrow1 (I regret that I have but one life to give for my country - Nathan Hale "Patriot")
[ Post Reply | Private Reply | To 19 | View Replies]

To: Drill Thrawl
The 16th amendment was sold to the public on the grounds that only the top 1 or 2 percent would ever pay a federal income tax.

Everyone else was to be exempt.

Let's return to the fundamentals ~ and if we can't do that Admit that the federal income tax FAILED. Just pull the plug on the 16th amendment and come up with something else.

Now that's fair.

Your idea is not fair. It betrays the founding arguments for the 16th amendment. In fact, it's a total betrayal of all that's right and holy.

25 posted on 10/07/2011 12:51:57 PM PDT by muawiyah
[ Post Reply | Private Reply | To 4 | View Replies]

To: The Great RJ
What Obama fails to realize

Do you believe that he REALLY fail to realize this?

I think he fully realizes it. He and his fellow travelers HATE small businesses. In their ideal world you can't earn a living if you aren't working for "the party".

26 posted on 10/07/2011 12:53:05 PM PDT by MrB (The difference between a Humanist and a Satanist - the latter knows whom he's working for)
[ Post Reply | Private Reply | To 22 | View Replies]

To: The Great RJ
How about something as simple as him being STUPID and INNUMERATE.

I now suspect of him of being functionally illiterate as well,

27 posted on 10/07/2011 12:53:40 PM PDT by muawiyah
[ Post Reply | Private Reply | To 22 | View Replies]

To: Sub-Driver
Everyone [should] pay their fair share … it is simply a matter of making sensible choices,” he said. I see a sensible choice in 2012. Obama destroying this country on a hourly basis.
28 posted on 10/07/2011 12:55:32 PM PDT by ColdOne (I miss my poochie... Tasha 2000~3/14/11)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Sub-Driver

What happens when big ole nasty RATS get backed into a corner?


29 posted on 10/07/2011 1:00:27 PM PDT by marty60
[ Post Reply | Private Reply | To 1 | View Replies]

To: Sub-Driver

Nowhere Man...


30 posted on 10/07/2011 1:03:40 PM PDT by Eric in the Ozarks
[ Post Reply | Private Reply | To 1 | View Replies]

To: marty60

Rush says that a prominent person (who shall remain nameless) said that Obama is planning the riots (foot soldiers) to help him get re-elected. His platform will be ‘anti-Wall Street’. It’s all coming out.


31 posted on 10/07/2011 1:04:22 PM PDT by RushIsMyTeddyBear
[ Post Reply | Private Reply | To 29 | View Replies]

To: Sub-Driver

It’s a hallmark of Marxian philosophy that it attempts to foment class warfare by setting one bloc of society against another.

As Obama’s ratings continue to go through the basement, this Marxian slimeball seeks to boost his ratings by attacking one segment of society as being somehow “responsible” for the ills of another.

Thr consequences of the current vogue in social philosophy - according to which everyone goes after successful White males - will result in the downfall of America, inasmuch as White males remain responsible for the vast majority of society’s successes.

But, then, the downfall of America is precisely what Obama wants, and always has wanted.


32 posted on 10/07/2011 1:09:17 PM PDT by Jack Hammer
[ Post Reply | Private Reply | To 1 | View Replies]

To: ColdOne
http://video.foxbusiness.com/v/1192505402001/buffett-top-400-earners-arent-paying-enough-taxes

Buffett Tax explained by Buffett isn't the same as Obama.

33 posted on 10/07/2011 1:19:03 PM PDT by scooby321
[ Post Reply | Private Reply | To 28 | View Replies]




Click the Pic               Thank you, JoeProBono

Follow the Exciting Adventures of Gary the Snail!

Abolish FReepathons
Go Monthly

Planning to donate $10 or more? You can sponsor
one or more New Monthly Donors for no additional cost
FReepmail TheOldLady

34 posted on 10/07/2011 1:19:34 PM PDT by TheOldLady (FReepmail me to get ON or OFF the ZOT LIGHTNING ping list)
[ Post Reply | Private Reply | View Replies]

To: RushIsMyTeddyBear

Yes indeed, this is ALL political posturing. NO TAXES whatsoever will pass the house between now and November. Any new taxes proposed out of zer0 or the Senate (by Harry “the” Redd) is just a setup to get the 50% that pay none to vote for ‘rats.

This is why the poor, even if you add all the pluses and minuses the Govt does to their incomes and its still a net payout to them, MUST pay some income tax. They must be made to understand they can have more income if they made more money, instead of the opposite.


35 posted on 10/07/2011 1:21:16 PM PDT by C210N
[ Post Reply | Private Reply | To 31 | View Replies]

To: Sub-Driver

They are not proposing a tax on millionaires. They are proposing a tax on people working to become millionaires. If they really wanted a millionaire tax, they would propose confiscating 5% of the total assets of anyone with a net worth in excess of $1 million. But you never hear them supporting that. Go figure.


36 posted on 10/07/2011 1:22:33 PM PDT by Hoodat (Because they do not change, Therefore they do not fear God. -Psalm 55:19-)
[ Post Reply | Private Reply | To 1 | View Replies]

To: All

Who is John Galt?


37 posted on 10/07/2011 1:25:37 PM PDT by Hoodat (Because they do not change, Therefore they do not fear God. -Psalm 55:19-)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Sub-Driver
Well since half of the "ordinary wage earners" do not pay federal taxes, I would think Buffet would have nothing to worry about.


38 posted on 10/07/2011 1:31:56 PM PDT by American in Israel (A wise man's heart directs him to the right, but the foolish mans heart directs him toward the left.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Sub-Driver

Marxist Moron.


39 posted on 10/07/2011 1:32:03 PM PDT by luvie (Now what?)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Sub-Driver

Why hasn’t Obama paid his fair share?

Why is question not being asked?


40 posted on 10/07/2011 1:33:47 PM PDT by School of Rational Thought (Fun for women ages 21 - 35)
[ Post Reply | Private Reply | To 1 | View Replies]


Navigation: use the links below to view more comments.
first previous 1-2021-4041-6061-78 next last

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.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson