Rich people voted for Obama

Those who made over $200k - the demo whom Obama said he would tax while giving a tax cut to everyone else - voted 52% in favor of Obama.

FiveThirtyEight.com: Electoral Projections Done Right: Obama Outperforms Kerry Among Virtually All Demographics

What a shock. Those are usually the same people who are so disconnected with the reality of scratching for a dollar they can afford the luxury of lofty, stupid, and unrealistic do-gooder ideals and have the spare time to sit and worry about the crap.

Their taxes will be raised and they'll miss some caviar or a trip to Europe. The guy who makes $30k will be missing his mortgage payment.
 
What a shock. Those are usually the same people who are so disconnected with the reality of scratching for a dollar they can afford the luxury of lofty, stupid, and unrealistic do-gooder ideals and have the spare time to sit and worry about the crap.

Their taxes will be raised and they'll miss some caviar or a trip to Europe. The guy who makes $30k will be missing his mortgage payment.

You got it.

But this will not stop Democrats from calling Republicans the 'party of the rich.'
 
Folks just don't get it. There is a reason the "rich" don't give a flying poo ... they know they wont be affected because they have already moved a lot of their wealth offshore.

The same is true of corporations....google "corporate inversions" and you'll get the idea. There has been a HUGE spate of corporate inversions since just before 2002 and it continues to this day.
 
Folks just don't get it. There is a reason the "rich" don't give a flying poo ... they know they wont be affected because they have already moved a lot of their wealth offshore.

The same is true of corporations....google "corporate inversions" and you'll get the idea. There has been a HUGE spate of corporate inversions since just before 2002 and it continues to this day.

So whats the objection to a higher tax rate for the rich...and just why is it after a tax cut directed at the rich there was a "spate" of corporate inversions off-shore? It sound like the tax rate is irrelevant...
 
So whats the objection to a higher tax rate for the rich...and just why is it after a tax cut directed at the rich there was a "spate" of corporate inversions off-shore? It sound like the tax rate is irrelevant...

Tax away! I dont give a flying poo...all my money is buried in the backyard.
 
Yeah, it's $250,000, not $200,000, unless he changed it again. And the difference between people who make $200k and $250k is probably a lot.
 
There are stupid rich people too

they are not stupid. they are just doing their duty. for long 8 years the rich have gotten richer and well the poor have just gotten poorer. maybe if that wealth was spread around a bit it would even out things. under the republican's tax it's like welfare for rich people. you cannot justify lower rich people's taxes and hiking up middle class people's taxes.
 
With the right accountant they pay less than the average person in comparison.
 
Folks just don't get it. There is a reason the "rich" don't give a flying poo ... they know they won’t be affected because they have already moved a lot of their wealth offshore.

The same is true of corporations....google "corporate inversions" and you'll get the idea. There has been a HUGE spate of corporate inversions since just before 2002 and it continues to this day.

$200K per year is not “rich” it’s probably “upper middle class” and the educated professional middle class made up a huge portion of Obama’s supporters from the beginning.

My definition of “rich” would start at about $15m in net assets, for that group the Obama victory incomprehensible and I would wager that 95% of the folks in that group voted for McCain.

Lots of corporate inversions, especially since the beginning of the transitional period for 409A compliance enacted under the 2004 American Jobs Creation Act. Starting 1/1/2009 US fund transfers to offshore trusts will be subject to a 20% excise tax. That has accelerated the flow of assets out of the US, not sure how that creates jobs in America, thanks W.
 
So what’s the objection to a higher tax rate for the rich...and just why is it after a tax cut directed at the rich there was a "spate" of corporate inversions off-shore? It sound like the tax rate is irrelevant...

You bring up a good point and I was on a call this morning where a little bird told me the buzzword for the Obama transition tax team is “broaden the base”. The marginal rates are not going up that much (they are still going to be lower than those under Clinton) but the Obama team will go through the code to eliminate as many corporate deductions as possible thus making sure more corporate income is subject to tax.

In addition they will probably beef up the Alternate Minimum Tax so that more high net worth individuals are subject to the 23% marginal AMT rate (so all you rich folks should start popping out kids). Another element of broaden the base that was discussed was taxation on foreign corporations and trusts by bringing back the rules on controlled foreign corporations. The estate tax rate (that was supposed to go away next year) will probably remain at 2008 levels and the itemized deduction phase-out will probably go up to 6%.

All of these were Bush tax cuts for the wealthy that the democrats didn’t catch in 2001 and 2004 and I think the reasoning is that they will slip under the Republican radar as they are good revenue raisers but a little arcane to argue about in the public arena.
 
they are not stupid. they are just doing their duty. for long 8 years the rich have gotten richer and well the poor have just gotten poorer. maybe if that wealth was spread around a bit it would even out things. under the republican's tax it's like welfare for rich people. you cannot justify lower rich people's taxes and hiking up middle class people's taxes.

who is lowering the taxes of the rich and raising the taxes of the poor? republican tax cuts are across the board.

how fair is evening things out? i don't like the government telling me i have to do anything especially give money. the government should stay out of my wallet and allow me to chose who i give money to.
 

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