Obama wants to drive them out of business.
The big-government/big-corporate criminal complex doesn't like competition.
Tom is misusing the term millionaire here, but then so is Obama.
It originally meant someone whose net worth was more than $1M, not someone whose gross income was was more than $1M.
The second person would presumably have a net worth considerably more than $1M.
According to Wiki, there are about 10M US dollar millionaires in the entire world. Most of them obviously towards the low end of the threshold amount.
The world is not going to get out of its debt crisis by taxing the millionaires. There just aren’t enough of them.
No shi!. These are the business people of America and all tax increase will be passed on to the poor, middle class, and even to other rich. PRODUCT AND SERVICE INCREASES. Damn, how stupid Americans are.
Same notion as “cutting” a trillion dollars over 10 years. A taxpayer is a “millionaire” if he could earn $1M over an extended period.
Oh, BTW: IIRC, the $250,000 line is really at $224,000.
Funny, the numeric value of “rich” keeps getting defined down while, given inflation, it should be going up.
This is also how Democrats get away with opposing tax cuts; by claiming they are only 'for the rich' because, obviously, someone like Mitt Romney paying 4 million a year in taxes will see a bigger numerical benefit from even a tiny tax reduction on his 22 million dollar income than a guy paying a few thousand per year in income taxes. Yet, year after year, the left and it's media water carriers promote 'tax the rich' as a panaeca for economic woes and oppose 'tax cuts for the rich' that might actually help the middle class the left purports to love so much.
Thank God for sensible economists such as Dr. Thomas Sowell who explain these simple facts on an almost daily basis. Yes, few actually pay attention but the facts are there and folks like Dr. Sowell give conservatives factual ammunition to use against leftist loons mindlessly yelling 'tax the rich!'
I wish Romney and Ryan would present this to the American people. So far, they haven’t.
Page ONE in The DemonRat Playbook:”CLSS WARFARE”!”RACISM”is next!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
This is the one time I think Dr. Sowell may be mistaken. Obama knows very well what he is doing. Prior to the 2008 election he was being interviewed. The talking head pointed out that raising taxes reduces revenues to the government. Obama’s response was pure evil. He agreed, but stated the tax increase would be “fair” even if revenues were reduced.
” According to the Internal Revenue Service, there are more than 2,700,000 people who earn $250,000 a year or more “
Yeah, and if you taxed all of these people at 100% of incomes over 250,000, it wouldn’t run the government for one day. It is always the middle, and upper middle class who pay, and pay, and pay.