Obama Saves the Middle Class

Discussion in 'Politics' started by LogikAndReazon, Jan 2, 2013.

  1. LogikAndReazon
    Offline

    LogikAndReazon Gold Member

    Joined:
    Feb 21, 2012
    Messages:
    4,850
    Thanks Received:
    614
    Trophy Points:
    190
    Ratings:
    +1,286
    Obama won re-election by selling the idea that he was the champion of the middle class. Now he is forcing them into poverty and driving them from their homes.


    That is the effect of new taxes going into effect on Jan. 1, regardless of how negotiations on the fiscal cliff turn out (unless, as seems unlikely, Congress decides to extend all of the Bush tax cuts to everyone). The new marginal rates on dividends and interest (43.4%) and capital gains (20%, or 23.8% including the ObamaCare surcharge for high earners) will be devastating for the middle class. Not only will it apply to those not-so-rich high earners who breach the $200,000 level, but it will harm those under the limit by undermining their desire to get ahead. Why work longer or harder with 43.4% of marginal income going straight to Washington, another 15% to 20% going to state and local taxes, and 55% of whatever's left going to death taxes when you pass on? It's easier to do what Obama wants and just stay poor.


    New tax rates are just the beginning. There's the failure to address the Alternative Minimum Tax. And with the president's unwillingness to negotiate, there's the restoration of higher tax rates on all earners. There is also a host of indirect taxes, such as an onerous tax on medical device makers and lower reimbursements to doctors and hospitals, that will be passed on to consumers one way or another.


    Altogether, Obama is "saving the middle class" with a $494-billion tax hike, three-fourths of it on the middle class.

    Articles: 'Saving' the Middle Class
     
  2. Duped
    Offline

    Duped Senior Member Supporting Member

    Joined:
    Apr 19, 2012
    Messages:
    2,256
    Thanks Received:
    671
    Trophy Points:
    48
    Ratings:
    +672
    Fundamental change :piss2::afro:
     
    • Thank You! Thank You! x 1
  3. Stephanie
    Offline

    Stephanie Diamond Member Supporting Member

    Joined:
    Jul 11, 2004
    Messages:
    70,236
    Thanks Received:
    10,818
    Trophy Points:
    2,040
    Ratings:
    +27,361
    His idea of Transforming AMERCIA well under way

    the idiot people voted for it...so be it
     
  4. WillowTree
    Offline

    WillowTree Diamond Member

    Joined:
    Sep 15, 2008
    Messages:
    68,197
    Thanks Received:
    10,175
    Trophy Points:
    2,030
    Ratings:
    +14,779
    don't waste your breath feeling sorry for the "middle class" they voted for him. be amused instead.
     
  5. Intense
    Offline

    Intense Senior Member

    Joined:
    Aug 2, 2009
    Messages:
    44,909
    Thanks Received:
    5,849
    Trophy Points:
    48
    Ratings:
    +5,863
    I don't think Anyone needs to look past Credit Card interest Rates to see who Obama is protecting. ;)
     
  6. GoneBezerk
    Offline

    GoneBezerk BANNED

    Joined:
    May 14, 2011
    Messages:
    7,603
    Thanks Received:
    492
    Trophy Points:
    0
    Ratings:
    +495
    The Obamacare tax is going to hit a lot of middle and poor class people that don't know it yet.

    The AMT was created by liberals to get back at certain taxpayers that so-called didn't pay their fair share due to loopholes, but the AMT net is catching more people each year originally not the target....which doesn't bother liberals.
     
  7. LogikAndReazon
    Offline

    LogikAndReazon Gold Member

    Joined:
    Feb 21, 2012
    Messages:
    4,850
    Thanks Received:
    614
    Trophy Points:
    190
    Ratings:
    +1,286
    Tax hikes show you care !!!!!!!!!!!!!!!!!
     

Share This Page