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If You Have an Income, Listen Very Carefully to Barack Obama
American Thinker ^ | 07/10/2012 | Gary Burk

Posted on 07/10/2012 7:09:09 AM PDT by SeekAndFind

In his remarks at the White House yesterday President Obama Called for extending Bush tax breaks for another year -- at least for certain taxpayers, those earning less than $250,000 per year. Apart from the continued exacerbation of class warfare in pitting "the middle class" against "the wealthy," a more deadly nuance lurked in his words.

Twice in his brief speech he pointed out that we need to enact this cutoff because "we cannot afford to spend on tax breaks for the wealthy." Those words should frighten and arouse anyone who has an income. They are not ill-chosen words; they are a look into the very political and economic heart of the current president and his regime.

Allowing income earners to keep a portion of their money is considered by them to be spending by the government. In other words, all of your money is theirs to spend.

They spend it on their special programs, their cronies, their allies and their adoring lapdogs. They spend some of it on the producers in order to keep the well flowing. Government has no money to spend except what it confiscates from those whose labor and intelligence produce wealth. A tax reduction is not government spending except in the convoluted sense of socialist elitists who believe they own everything and they alone know what and in what quantity is best for the masses.

Government is necessary and valuable. Its primary functions are to restrain evil, maintain internal peace and order, and keep its citizens secure. It needs to encourage individual liberty and personal responsibility. The details of how these are accomplished are matters of legitimate debate. One thing not subject debate is what government owns. It owns nothing.

(Excerpt) Read more at americanthinker.com ...


TOPICS: Editorial
KEYWORDS: 2012; bhofascism; bushtaxcuts; classwarfare; democrats; middleclasstaxes; obama; smbusinesstaxes; tax; taxes

1 posted on 07/10/2012 7:09:22 AM PDT by SeekAndFind
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To: SeekAndFind

Question concerning the $250,000 figure. Is this before taxes and all expenses?


2 posted on 07/10/2012 7:14:13 AM PDT by RC2 (Buy American and support the Wounded Warrior Project whenever possible.)
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To: RC2

For those earning >= $250,000 Essentially your taxes REVERT back to the Clinton era tax rates ( from 36% to 39.5% ).


3 posted on 07/10/2012 7:16:46 AM PDT by SeekAndFind (bOTRT)
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To: SeekAndFind

Nobody discusses how much “ending Bush tax cuts for the rich” will raise.
It’s not much, nowhere near what’s implied.
It’s not about revenue, it’s about social engineering.


4 posted on 07/10/2012 7:17:26 AM PDT by ctdonath2 ($1 meals: http://abuckaplate.blogspot.com)
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To: SeekAndFind

“Allowing income earners to keep a portion of their money is considered by them to be spending by the government. In other words, all of your money is theirs to spend.”


This statement is a perfect summation of income redistribution. Liberals view everything as if it all belongs to the government.

All your money are belong to us! LOL


5 posted on 07/10/2012 7:23:02 AM PDT by Starboard
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To: ctdonath2
Nobody discusses how much “ending Bush tax cuts for the rich” will raise.

If the Bush tax cuts for the rich sunset the lowest tax bracket will jump 50%. Their rate will go from 10% to 15%. And the administration will blame this on the Repubs. And they will get away with it.

6 posted on 07/10/2012 7:25:07 AM PDT by 17th Miss Regt
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To: SeekAndFind

1040 Xtra EZ To Do Tax Form
US Government. Form Scru-u-R

Page I.

1. How much money did you make this year? $________

2. SEND IT IN. $________

Page II

1. Take out a loan for more.

2. Send it all to us. $________


7 posted on 07/10/2012 7:28:25 AM PDT by New Jersey Realist (America: home of the free because of the brave)
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To: ctdonath2
Nobody discusses how much “ending Bush tax cuts for the rich” will raise.

I can't find the reference on their web site, but this morning on Fox&Friends there was some discussion. As I recall, the net was that the amount raised annually would be enough to fund the government for about 3 days.

But it will take the seed money out of the economy. Growth? Hardly. These social engineers want the American economy to die, thinking that if the American economy lies fallow for a while, it will stimulate the rest of the world. I learned better economic theory in the 8th grade.

8 posted on 07/10/2012 7:30:41 AM PDT by newheart (At what point does policy become treason?)
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To: ctdonath2

I think Bill O’Reilly talked about this last night. This tax increase will just cover a week or two of federal spending.

This tax hike would generate 85 billion dollars which would cover federal spending for 8 days..

http://www.thegatewaypundit.com/2012/07/bill-oreillys-brilliant-rant-ghost-of-ronald-reagan-haunts-obama-video/


9 posted on 07/10/2012 7:37:08 AM PDT by MustKnowHistory
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To: ctdonath2
" it’s about social engineering."

Not sure if I totally agree. Libs/Progressives/Dems are all about ENVY, POWER and CONTROL. The more of your money that they confiscate, the less power and influence you have, and the more they have. They simply HATE you having money (= power in their mindset). They have chosen their lifestyle and they will do everything in their power to make sure that you do the same (but without any power of your own of course).

10 posted on 07/10/2012 7:37:22 AM PDT by I am Richard Brandon
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To: newheart

One thing glossed over by His Excellency and the press is how will the AMT be handled.


11 posted on 07/10/2012 7:37:55 AM PDT by Mouton (Voting is an opiate of the electorate. Nothing changes no matter who wins..)
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To: ctdonath2

Nobody discusses how much “ending Bush tax cuts for the rich” will raise. As I was getting ready for work this AM, on FOX news they said something about the amount it would raise would cover government spending for about 6 days. I believe that is the number but you can check on Fox & Friends for exact figures. Actually, ridiculous - and a certain number of people buy all the cr@p the Obamaites come up with. Pitiful idiots.


12 posted on 07/10/2012 7:38:03 AM PDT by Bitsy
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To: SeekAndFind

Links to column do not work.


13 posted on 07/10/2012 7:40:42 AM PDT by John W (Viva Cristo Rey!)
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To: All


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14 posted on 07/10/2012 7:41:25 AM PDT by musicman (Until I see the REAL Long Form Vault BC, he's just "PRES__ENT" Obama = Without "ID")
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To: SeekAndFind
Of course that is just federal income tax. If you add state income taxes, local property taxes, etc., someone taxed at a rate of 39.5% is paying over 50% of his income in taxes.

On F&F they said Schumer had suggested limiting the tax increase to those making over $1 million, but they indicated he might switch to Obama's position. For a family living in New York City, $250,000 doesn't put you in the ranks of the super-rich or afford the lifestyle it might in the South or Midwest.

15 posted on 07/10/2012 7:44:33 AM PDT by Verginius Rufus
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To: SeekAndFind

It’s not just income but wealth.

IRAs and 401ks fit the bill nicely here as the govt thinks that since taxes are unpaid on these earnings, they are the govt’s money.

Look for the huge wealth within these two groups to be “taken” by a greedy govt which is strapped for money.

You will have money taken from your account and exchanged for “credits” to SS to use.

Last year I withdrew a substantial portion from my 401k and purchased land. Big tax bite, but now it cannot be taken as easily.


16 posted on 07/10/2012 7:45:14 AM PDT by bestintxas (Somewhere in Kenya, a Village is missing its Idiot, thankfully.)
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To: RC2

You are onto something. They like to brand about the Under/over $250,000 without making a distinction as to what is involved. I know of several business owners who have over a million in “income” (gross before taxes and deductions), yet have a net personal income of under $50,000. Then you have the smart ones with teams of accountants who have all their expenses paid for by the business and written off as expenses.

“Income” and “earnings” are flexible terms of art in our corrupt bloated complex tax code ...


17 posted on 07/10/2012 7:50:34 AM PDT by Mechanicos (When did we amend the Constitution for a 2nd Federal Prohibition?)
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To: SeekAndFind

Doesn’t a family of four or more qualify for medicaid at the 90,000 level? “Wealthy” is simply a term used to designate anyone who has a liveable income and is not on full-time governenment benefits.


18 posted on 07/10/2012 7:50:51 AM PDT by freeangel ( (free speech is only good until someone else doesn't like it)
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To: SeekAndFind

So, if gubmint owns everything that makes it the ultimate evil 1% doesn’t it?


19 posted on 07/10/2012 7:55:59 AM PDT by vanilla swirl (searching for something meaningfull to say)
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To: vanilla swirl

According to IRS statistics, individuals in the 35% bracket paid about 170 billion in taxes. In theory, bumping that to 39.6% (a 13% increase) should raise in the range of 22 billion.

Those of us who know that the deficit run rate is 1.3 trillion (1300 billion) find that funny. It won’t make a dent.


20 posted on 07/10/2012 8:24:14 AM PDT by mmparker
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To: 17th Miss Regt

I believe in 2013 FICA goes back up 2%, effectively wiping out much of the ‘middle/lower class’ tax extension break....


21 posted on 07/10/2012 8:32:45 AM PDT by yadent
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To: bestintxas
Last year I withdrew a substantial portion from my 401k and purchased land. Big tax bite, but now it cannot be taken as easily.

Have you checked for spotted owls nesting on your property? Any lynx fur? How about Sand Dune lizards? Any pools of water that might be controlled as navigable waterways? Is a big box store looking for land that would yield some good property tax revenue...think Kelo.

22 posted on 07/10/2012 8:52:02 AM PDT by Myrddin
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To: 17th Miss Regt

“And the administration will blame this on the Repubs. And they will get away with it.”

But it wouldn’t have to be that way IF Republicans/Conservatives would shout the truth about all this to everyone, over and over.

Of course, someone on FR recently pointed out to me that most MSM networks won’t even sell them commercial time to get their points out. I’d believe it and that’s a huge problem.

So, what to do to educate people?


23 posted on 07/10/2012 9:03:54 AM PDT by llandres (Forget the "New America" - restore the original one!!!)
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To: SeekAndFind
For those earning >= $250,000 Essentially your taxes REVERT back to the Clinton era tax rates ( from 36% to 39.5% ).

Only the top marginal rate. However, there will also be increases in dividend and capital gains taxes.

Looking back at 2003, you can see how the tax cuts affected the average tax rate for everyone:

But, it didn't really affect the share of income taxes paid by the various income groups. In fact, the higher income taxpayer ultimately paid a higher share of income taxes, at least until 2008:


24 posted on 07/10/2012 10:16:55 AM PDT by justlurking (The only remedy for a bad guy with a gun is a good WOMAN (Sgt. Kimberly Munley) with a gun)
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To: I am Richard Brandon
Not sure if I totally agree.

...then you proceeded to make my point. They don't want to raise money for governmental use, they want to change the power structure.

25 posted on 07/10/2012 2:34:02 PM PDT by ctdonath2 ($1 meals: http://abuckaplate.blogspot.com)
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To: SeekAndFind

I don’t need to smell crap to know that it stinks.


26 posted on 07/10/2012 2:35:17 PM PDT by dfwgator (FUJR (not you, Jim))
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To: ctdonath2

As far as the actual value in revenue of allowing the Bush tax cuts to expire, a favorite saying of my late mother would seem to apply, “It won’t be enough to last til the water gits hot.” That ain’t a lot longer than a New York minute.


27 posted on 07/10/2012 5:41:12 PM PDT by RipSawyer (Free healthcare is worth FAR LESS than it costs.)
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To: ctdonath2

I think I heard the figure the tax on the “wealthy” will raise enough for 11 days of spending.


28 posted on 07/10/2012 5:42:52 PM PDT by Terry Mross ( To all my kin: Do not attempt to contact me as long as you love obama.)
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To: newheart

“I learned better economic theory in the 8th grade.”
//////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////

I learned better economic theory than that walking behind a mule before I was old enough for the 8th grade.


29 posted on 07/10/2012 5:44:50 PM PDT by RipSawyer (Free healthcare is worth FAR LESS than it costs.)
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To: bestintxas

“Big tax bite, but now it cannot be taken as easily.”
//////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////

Spend much time in Fantasyland?


30 posted on 07/10/2012 5:48:49 PM PDT by RipSawyer (Free healthcare is worth FAR LESS than it costs.)
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To: Myrddin

I don’t think the GOP ever used the Kelo decision as effectively as it could have when making the case against liberal Sup Court justices.


31 posted on 07/10/2012 6:23:26 PM PDT by Aetius
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To: SeekAndFind

It ain’t about the “taxes” folks....it about your BODY/BRAIN belonging to them..the FEDS.

King George III held similar delusions.


32 posted on 07/10/2012 7:22:02 PM PDT by mo (If you understand, no explanation is needed. If you don't understand, no explanation is possible.)
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