President Obama has been waging a "class war" since he was elected: "The 'rich' need to pay their fair share". Well, he won a battle in the war last night. For most Americans (including me), raising taxes on the so-called rich does not affect us and Obama has brilliantly cast rich people as the enemy. So why not stick it to them, it doesn't affect us...or does it?
You will note that the democrats never use the word "successful" when talking about people with money...rich has a much more negative connotation. "They need to pay their fair share" is an ironic statement since the top 10% of earners pay more than 60% of taxes. But they can afford it right? For now, Obama has sold a majority on that idea.
Why should it matter to me (or most of you) that people making over $400,000 are now paying higher taxes. It doesn't affect me - but once it would have. I started my own business in the late 70's and struggled for years, going almost two years without a salary, but thanks to many 6-7 day work weeks during the 80's I became one of the "2%" Obama is now attacking. But I was lucky, Ronald Reagan was president and the maximum federal tax rate was 28%. We sold our successful business in the 90's and then I just became "one of the folks" in retirement.
But even though this new tax rate should have no effect on me...it does, and makes me angry. How many young entrepreneurs are out there wondering why should I bust my butt and if successful, end up paying a major portion of my earnings to the government? For those of you who could care less about Obama sticking it to the so-called rich - have you ever thought that maybe a successful person could offer you a good job opportunity in the future, and that maybe that opportunity may now be gone?
Obama in his speech last night "spiked the ball" and said that this wasn't the end: "More revenue from the rich is needed". This whole exercise was pathetic, between Obama and his complicit media the issue was framed as "taxes on the rich" when the real problem is the national debt and Obama and the Congress did NOTHING about that.
Most job creators are the so-called rich that Obama refers to - he is afraid to use the word "successful" because for the millions that pay no attention, it would not fit into his class warfare narrative. He is the most pitiful leader this country has ever had and I believe he is determined to make the USA a socialist/debtor country.
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3 comments:
What's much worse than Obama's class warfare is the complete political polarization in Washington, and in America as a whole. The "successful" will see their max tax rate go from 35% to 39.4% -- big deal. It's not like it's going from 35% to 55% or something radical like that. If you want to look at the glass half-full instead of half-empty, Congress got to make the threshold at $400K instead of Obama's desired $250K. So be thankful that this divided Congress was actually able to find common ground on at least something.
What's really bad is that they did nothing until the end of the year -- and even then, did next to nothing. The whole lot of them should be thrown out, but the sheeple in this country will never get it. The whole structure needs to come toppling down. There's no repairing this broken house; it's a tear-down project.
Well a 5% increase in taxes on someone making $400K may not seem like much, but it's $20K out of the private economy and down the government toilet.
Even if you have a going business, why work to grow it, if you just pay more taxes? May be better to keep it small with part time people an avoid goverment as much as possible.
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