As Guy wrote about already, President Obama is proposing $50 billion in new spending on the backs of America's small business owners, otherwise known as those who make more than $250,000 per year. House Majority Whip Kevin McCarthy is out with a new video today explaining why the "rich" tax hike Obama is proposing will only make a bad situation worse for those who are barely capable of being successful in this economy. "This is Small Business America," profiles S corporation owner Jerry Gorski, who lives just 15 miles away from where Obama will kick off his campaign today...
Look people, if you make $200,000 and are single or some combination of $250,000 married then you need to start seriously increasing or maxing out your 401(k), SEP, SIMPLE, or IRAs. Not only do you save and invest, you reduce your federal income and the taxable rate and amount. You keep your money, it lowers how much tax you pay, and far less of your hard earned work is in the hands of the government to redistribute. These are the tax loop holes for the middle class, if you aren't using them to protect your labor, earnings, and future then you have no one to blame except yourself. Most people in America - according the median national income - can contribute to both a workplace 401(k) and a more accessible IRA at the same time.
- Video: Chris Matthews attempts a do-over during his live show Mary Katharine Ham 34 minutes ago
- FL-13 special election: Jolly wins! Erika Johnsen 1 hour ago
- Finally: “Frozen,” the honest trailer Allahpundit 1 hour ago
- Union leaders: Man, this Keystone XL decision just “reeks of politics” Erika Johnsen 2 hours ago
- McCain on Ted Cruz: Have these self-proclaimed Reagan Republicans forgotten that Reagan gave amnesty to three million illegals? Allahpundit 3 hours ago
- Yikes: ObamaCare signups slowed down in February Erika Johnsen 3 hours ago