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Obama's Most Dangerous Tax Hike: Savings and Investments

coveyrise Wrote: Dec 01, 2012 6:53 PM
If Republicans cave on this the next thing you will hear coming out of Obama's mouth after another $1.5 Trillion Deficit in 2013 is that we need to start taxing Wealth Itself. That means that anything you own will then be subject to Government confiscation. Today's Millionaires are the people who make $200,000 per year or more. When that isn't enough it will be $150,000 per year and so on until we get down to Private Property then you will have witnessed the Fundamental Transformation of America folks.
Jay Wye Wrote: Dec 01, 2012 7:23 PM
the useful idiots FELL for Comrade Obama's bait and switch;
Comrade Obama talked about taxing millionaires and billionaires,but now it's down to taxing the $250K and up brackets.
And they further fail to see that the real tax burden is going to fall on the brackets UNDER that $250K level.
coveyrise Wrote: Dec 01, 2012 6:59 PM
Most of you always thought that a Million Bucks was a $1 with 6 zeros after it didn't you. Well not anymore. Now it's a $2 with 5 zeros after it as in $200,000. Aren't you glad to know you are now a Millionaire or Bilionaire? And here's the best part. If you happen to own a business that has a good year and you make over $200,000 that year don't count on being able to use it to grow your business. Oh no. Now Barack is going to invest it for you in Education, Green Energy and Union Government Infrastructure Projects that we don't need. This is how we're going to "Grow Our Economy From the Middle Class Out."
traitorbill Wrote: Dec 01, 2012 7:21 PM
And you know that, in the end, everyone who pays taxes will be footing the bill. If they were serious about the debt, wouldn't they be telling us that every dime raised from these taxes would go towards the debt? Turns out the debt is just another crisis to exploit for the democrats to raise our taxes.
President Obama proposed tax hike contains a lot to dislike, but what hasn't gotten much attention is the tax hike on savings and investments. While the marginal income tax rate will rise from 35% to 39.6% for top income-earners and small business owners, the proposed tax hike on capital gains and dividends could cause the most long-term economic damage.

That's not to downplay the rise in marginal rates. It could cost hundreds of thousands of jobs over the next few years. More universally acknowledged by economists, however, is the economic harm that savings and investment taxes do. In the...

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