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After Tax Hike, Obama Still Thinks Rich Need to Pay More

jwillis Wrote: Jan 03, 2013 8:49 AM
Wonder why Obama used the number $200,000 as the point when you’ve made enough money? Currently the Federal Budget deficit is $901,000,000,000. That is amount the Federal government borrowed this year. Point nine trillion. 95% of individuals filing Federal income tax returns report income of less than $200,000. Only 5% report income of $200,00 or more. If the Federal government takes all personal income over $208,660 (100% tax on income greater than $208,660) then the Federal government would have zero deficit. Perfect solution. After all, at some point you’ve made enough money. Source: www cbo gov
Joseph64 Wrote: Jan 03, 2013 9:01 AM
THIEF! There is no such thing as making enough money. The whole point of the founding of this country was so that the people could rise as far as their talent and determination allowed them to without being constrained by government. If someone has the talent and determination to make a billion a year, then the government has no right to punish them for that. You are misinformed about the government's ability to pay it's debts. When the government borrows money, only the principle is created not the interest. The debt can NEVER be paid down no matter how high taxes are because the interest owed on the debt does not exist.

It apparently wasn't enough to raise taxes on 77 percent of Americans with the fiscal cliff deal signed into law by auto-pen late last night by President Obama. In a video put out by the White House, President Obama dishonestly explained what the fiscal cliff means and then proceeded to say some Americans still need to "pay their fair share." Obama said there is more he wants to do to reduce our debt in a "balanced way," because after all, the $41 in tax hikes per $1 in spending cuts apparently wasn't enough irresponsibility for him. He gloated over the...