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Keyword: wealthy

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  • The Wealth Taxation Myth

    12/17/2010 7:06:26 AM PST · by bsaunders · 29 replies · 1+ views
    Beyond the Cusp ^ | December 17. 2010 | B. Saunders
    We keep hearing the argument that we have to tax the rich. We hear how the rich have all this wealth and that because of their great amounts of wealth; they can afford to pay more taxes. But here is the problem; we tax income, not wealth. Here is an example that will hopefully clarify the situation. We have two families. The first family has five million dollars in savings accounts in numerous banks earning two per cent interest and no other income. This gives them an income of one hundred thousand dollars a year. Living on their family estate...
  • New Efforts to Bring Iran’s ‘Wealthy Jewish Hostages’ to Israel

    12/14/2010 9:18:34 PM PST · by Nachum · 2 replies · 1+ views
    inn ^ | 12/14/10 | Tzvi Ben Gedalyahu
    Nearly 76,000 Iranian Jews moved to Israel since 1948 and Immigration Ministry officials and the Knesset committee for immigration are trying to find ways to encourage the remaining 25,000 to move to the Jewish State. One major obstacle is the comfortable position of many Iranian Jews, despite their children starting school every day with the chant “Death to Israel, Death to America.” Marking International Human Rights Day, the Knesset Committee on Immigration discussed the situation with Israelis from the Turkish and Iranian Jewish communities in Israel. “I ask Jews in Iran why they stay there, and they tell me they...
  • Income Taxes, Millionaires, and Billionaires (Chuck Schumer wants to play class warfare)

    12/14/2010 7:57:55 AM PST · by SeekAndFind · 8 replies
    American Thinker ^ | 12/14/2010 | Christopher Chantrill
    Senator Chuck Schumer (D-NY) is reported to be "irked" that President Obama didn't take his advice and use the tax bill to "corner Republicans into defending millionaires and billionaires."  In fact, Schumer's not just irked -- he's "deeply disappointed and convinced Obama had missed a major opportunity."  You'll remember that Schumer's plan was to continue the Bush tax cuts for everyone except those earning more than $1 million a year. Presumably, Chuck is upset about income trends showing the income share of the very richest rising in recent years.  Here is data from the IRS showing that the top...
  • Arson suspected in 2 Cape Cod incidents (graffiti left behind condemns wealthy people)

    12/13/2010 10:04:04 AM PST · by Libloather · 11 replies ^ | 12/13/10 | Stewart Bishop
    Arson suspected in 2 Cape Cod incidentsBy Stewart Bishop Globe Correspondent / December 13, 2010 State fire officials are investigating a connection between two separate incidents of arson in two Cape Cod towns, authorities said yesterday. In both instances, someone apparently left messages at the scene condemning wealthy people, officials said. State Fire Marshal Stephen D. Coan said evidence found at both locations has led investigators to believe they might be connected. “There is some commonality to both incidents,’’ Coan said. “There was offensive graffiti that was written and very visibly displayed at both sites.’’
  • Effort for Liberal Balance to GOP Groups Begins (Brock, Townsend - American Bridge)

    11/23/2010 5:58:49 AM PST · by Libloather · 17 replies
    NY Times ^ | 11/23/10 | MICHAEL LUO
    Effort for Liberal Balance to G.O.P. Groups BeginsBy MICHAEL LUO Published: November 23, 2010 In what may prove a significant development for the 2012 elections, David Brock, a prominent Democratic political operative, says he has amassed $4 million in pledges over the last few weeks and is moving quickly to hire a staff to set up what he hopes will become a permanent liberal counterweight over the airwaves to the Republican-leaning outside groups that spent so heavily on this year’s midterm elections. Kathleen Kennedy Townsend, a former Maryland lieutenant governor and the eldest of Robert F. Kennedy’s 11 children, has...
  • Obama offers compromise on top-tier tax rates (GOP says no to “decoupling.”)

    11/09/2010 10:13:26 AM PST · by WebFocus · 29 replies
    Hotair ^ | 11/09/2010 | Ed Morrissey
    Stung by massive electoral losses in last week’s midterms, Barack Obama has attempted to shift to the center on one major issue facing Congress in its lame-duck session opening later this month — tax increases scheduled to hit at the first of the year. Republicans, however, pushed back almost immediately to the strategy Obama floated this weekend in attempting to “decouple” the higher bracket tax rates from the rest of the tax rates. Obama favors a permanent repeal of the tax hikes for middle- and working-class workers, but only wants a temporary extension of the top rates: President Obama said...
  • Tax Breaks For The Wealthy Do Boost Economy (Congress bites the hand that feeds economic growth)

    10/28/2010 7:49:17 AM PDT · by SeekAndFind · 3 replies
    Forbes ^ | 10/28/2010 | Alex Brill and Chad Hill
    Once again, tax policy is playing a central role in the election campaigns across the country. While almost all politicians appear to favor the extension of tax cuts for low- and middle-income households, a political fight has erupted over the fate of the top income tax bracket rate and the tax rate on dividends and capital gains. A host of arguments has been heard--some sensible and some less so. One particularly troubling idea that has emerged is summed up by a recent statement by President Obama, who argued, "These [high-income taxpayers] are folks who are less likely to spend the...
  • The War Against Capitalism

    10/20/2010 8:51:57 AM PDT · by Stoutcat · 2 replies · 1+ views
    Grand Rants ^ | 10-20-10 | Stoutcat
    It’s a very subtle ploy, that statement, ”already making more money than most will earn in a lifetime.” Does it make you feel good? Glad for those billionaires, and proud of their enterprenurial spirit? Or does it make you feel slightly envious that these young kids will make more than you’ll ever see in your life? Yeah, me too. The ongoing repetition (only slightly unpalatable in single instances) permeates society these days. It’s in the press, on television, online… all the time. Captialism is evil; tax the rich; make the rich pay their fair share; they’ll make more than you’ll...
  • White House Stands by Call for Tax Hike on Wealthy

    10/18/2010 3:37:26 AM PDT · by Son House · 41 replies ^ | October 17, 2010 |
    The White House continued to push Sunday for Congress to let the Bush tax cuts expire for the wealthiest Americans, teeing up a lame-duck standoff over the issue in Washington once lawmakers return from the campaign trail. David Axelrod, the president's senior adviser, said Sunday that the Obama administration still wants the tax cuts extended for middle-class families making up to $250,000. "That would be stimulative, because people who need money in their pocket to spend and pay for the things that they need to live would have more money in their pocket," Axelrod said in an interview. But he...
  • Blanche Lincoln may support extending tax cuts for the wealthy in light of 'circumstances'

    10/10/2010 8:13:25 AM PDT · by Libloather · 23 replies
    The Hill ^ | 10/09/10 | Darren Goode
    Lincoln may support extending tax cuts for the wealthy in light of 'circumstances'By Darren Goode - 10/09/10 10:32 AM ET Sen. Blanche Lincoln (D-Ark.) Friday signaled she is open to extending Bush administration tax cuts beyond the middle-class incentives President Obama and congressional Democratic leaders are seeking. Lincoln – one of the most endangered Democratic incumbents in the Nov. 2 midterm election – said she may support extending tax cuts set to expire at the end of the year for those making as much as $1 million annually. "I don't think we should have to say that we're either going...
  • Boehner to the rich: don’t blame me. If you like your money, stop funding the Democrats!

    09/13/2010 7:59:14 AM PDT · by Big Bureaucracy · 52 replies
    Big Bureaucracy ^ | September 13th, 2010 | Ellie Velinska
    Here comes the Boehner’s genius: rich democrats talk class warfare only because they believe the Republicans are there to protect their success. If the Republicans give up and let the radical left President run wild without a check – all those rich democrats will have to walk the walk to IRS, not only talk the talk. House Republicans Leader (and soon to be Speaker) John Boehner called President Obama’s bluff and stated he will vote for extending only part of the Bush tax-cuts if the Democrats have no will to give tax-cuts for the wealthy. That sent shock-waves through the...
  • The Wealthy Left Needs to Buy Our Debt – NOW!!!

    08/13/2010 12:03:30 AM PDT · by ExxonPatrolUs · 12 replies ^ | Today | Voice at Poser Index
    The Wealthy Left Needs to Buy Our Debt – NOW!!! If the Obama administration insists on promising exponential growth in entitlements, AND, If wealthy lefties are pledging to give their life savings to charity, The time is now – Buy our debt!!! Buy it from Obama and Buy it from China. Put your money where your mouth is. Do it for world peace! This means you... Bill Gates, Warren Buffett, Larry Ellison, ...
  • As spending by wealthy weakens, so does economy (Most feel the squeeze when Rich don't spend)

    08/02/2010 7:13:21 AM PDT · by SeekAndFind · 15 replies · 1+ views
    Real Clear Markets ^ | 08/02/2010 | Jeanine Aversa
    Wealthy Americans aren't spending so freely anymore. And the rest of us are feeling the squeeze. The question is whether the rich will cut back so much as to tip the economy back into recession — or if they will spend at least enough to sustain the recovery. The answer may not be clear for months. But their cutbacks help explain why the rebound could be stalling. The economy grew at just a 2.4 percent rate in the April-June quarter, the government said Friday, much slower than the 3.7 percent rate for the first quarter. Economists say overall consumer spending...
  • Don't hold your breath for a bounce in home prices (Wealthiest Counties in America Now Outside DC)

    07/28/2010 3:24:12 AM PDT · by Libloather · 10 replies
    Google ^ | ALAN ZIBEL
    Don't hold your breath for a bounce in home pricesBy ALAN ZIBEL (AP) – 1 day ago WASHINGTON — Thought the housing crisis was over? Not quite. Despite four years of falling prices and recent signs that they were finally bottoming out, homes are expected to lose still more value in many metro areas over the next year. Parts of the country already pummeled by the housing crisis, like Las Vegas, Phoenix and Miami, will be hit hardest. But even some places that have rebounded or held up relatively well — including New York, Los Angeles and Washington, D.C. —...
  • A Man Who Took Life's Business Lemons and Made His Own Business Lemonade

    07/16/2010 11:40:03 AM PDT · by Niuhuru · 4 replies
    Associated Content ^ | Published July 16, 2010 by: | Alice Winters
    After getting frustrated out of the lemons his problems gave him, David Miller made his own corporate lemonade. Due to the frustration of always having to call technical support to solve his own frequent hardware problems, he started taking the initiative to educate himself.
  • Wall Street Bails Out on Obama

    07/09/2010 12:25:12 PM PDT · by Kaslin · 23 replies ^ | July 9, 2010 | Donald Lambro
    WASHINGTON -- After a year of being pilloried and persecuted in Congress, many of Wall Street's donors have ended their rocky, odd-couple relationship with the Democrats and closed their checkbooks. The news that a growing number of Wall Street fat cats are no longer giving money to the Democratic House and Senate campaign committees is the latest in a lengthening saga of bad news for the Democrats who face what could be catastrophic losses in the midterm elections. Since the 2008 election, Wall Street tycoons who helped elect Barack Obama and bankrolled the Democrats' gains in Congress have become the...
  • Minn. Senate approves tax increase for wealthy

    05/10/2010 6:16:48 PM PDT · by ButThreeLeftsDo · 15 replies · 548+ views ^ | 5/10/10 | MARTIGA LOHN, Associated Press
    The Democratic-controlled Legislature pushed Monday to send new income taxes for the highest-paid Minnesotans to a tax-averse Gov. Tim Pawlenty as part of their plan to wipe away a $2.9 billion deficit. The proposal barely cleared the Senate on a 34-33 vote before heading to the House. Pawlenty, a potential Republican presidential candidate, eliminated any suspense by promising to veto it. Lawmakers and the governor are hard-pressed to balance the budget before the state constitution requires the legislature to adjourn in a week. The state Supreme Court made the crisis more acute last week when it said Pawlenty exceeded his...
  • Fleecing the Rich (The Rich Will Just Move.)

    03/31/2010 11:59:35 AM PDT · by Andrea19 · 9 replies · 677+ views
    ATR ^ | 3/31/10 | Tim Andrews
    We've said again and again that hiking taxes on the "rich" won't increase revenue - instead, all it will do will be to retard economic growth, and hurt working families through job losses...
  • I fought for my right to have a career....

    03/01/2010 2:50:14 PM PST · by Niuhuru · 23 replies · 693+ views
    What is it with women? One minute they say they want to forge their way in the world, use their education, make their own money. The next, they want to be back at home raising children, living a life of cupcake-making domesticity. Then they ask, couldn't we have both? And when that happens, they want a lie down and their old traditional life back. Even that renowned analyser of human desires and motivation, Sigmund Freud, was stumped by the fairer sex. 'The great question that has never been answered', he said, 'and which I have not yet been able to...
  • $8 million in assets - and can't get a mortgage

    01/20/2010 3:22:32 AM PST · by TigerLikesRooster · 6 replies · 536+ views
    CNN Money ^ | 01/20/10 | Les Christie
    $8 million in assets - and can't get a mortgage By Les Christie, staff writer January 20, 2010: 3:41 AM ET NEW YORK ( -- The wealthy have money problems, too -- yeah they do. Even refinancing a mortgage for their fancy digs or getting a new loan can be near impossible these days thanks to skittish lenders. And the higher the loan value, the more they worry. Still, that people with high six-figure incomes, stellar credit histories and gobs of assets get mortgage requests turned down seems weird. "It's amazing really," said Susan Bruno, a financial planner with Beacon...