Do you get tired of Obama discriminating against the rich?
Especially when the "rich" include small business owners across America who supply a substantial number of jobs.
How important are small businesses to the U.S. economy?
Small firms:
• Represent 99.7 percent of all employer firms.
• Employ half of all private sector employees.
• Pay 44 percent of total U.S. private payroll.
• Generated 65 percent of net new jobs over the past 17 years.
• Create more than half of the nonfarm private GDP.
• Hire 43 percent of high tech workers ( scientists, engineers, computer programmers, and others).
• Are 52 percent home-based and 2 percent franchises.
• Made up 97.5 percent of all identified exporters and produced 31 percent of export value in FY 2008.
• Produce 13 times more patents per employee than large patenting firms.
Why should these people be targeted? Taxing them more will drag down a already slow economy.
http://web.sba.gov/faqs/faqIndexAll.cfm?areaid=24
@Mike a proud liberal You have the same tax loopholes that the rich do. Republicans and Democrats gave us all the same.
If you don’t use them that is your problem. Not the rich.
It appears that many want the rich to have less. The rich don’t deserve it do they? Bill Gates? Steve Jobs? Walt Disney? Evil people. There seems to be a suggestion that the public should determine how much money they should have. Although I see zero logic to that. Should Buffet have 2 billion, 3 billion 4 billion? Lets have a poll. Again zero logic. The opposite is true .. let us determine how much the poor should have right?
Or maybe what you really want is to work for the poor? I guess that is the goal.
As for rates …rates are rates for the rich. They are high. What the media does is "modify" the rates by deducting deductions and "call it a rate". That is false. The rich pay a higher rate. Period. Heck .. get some tax instructions. Show me the lower rate. Can you do the math for yourself?
No, because he’s not. That’s just the right-wing persecution complex peeking through.
The rich should be paying their fair share, we have to so why not them. I do NOT agree with you at all. I am not part of the rich and yet I have to pay my fair share.Look at Romney he invested millions offshore instead of in America to avoid paying proper taxes. Too much of this goes on. We all know Romney is very anti american for doing this, why not in america????
If you caught Obama investing into a swiss account instead of in america you would run with it. Look at your candidates and how sneaky they are.
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No, because he’s not. That’s just the right-wing persecution complex peeking through.
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I’m just tired of politicians exploiting class warfare. Taxing the rich, even at 100%, would not bring in enough revenue to pay off the debt or fix the budget crisis. This is symbolic more than pragmatic and I have no interest in taking more money out of the economy from some of the most productive members of society just to prove a point or to hold up some kindergarten worldview of what’s "fair."
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Rewarding failure while demonizing success is a recipe for DISASTER….VOTE OBAMA OUT!!!
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Liberals want them taxed at a 100 percent rate
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The rich that Obama wants to tax are not small business owners, regardless of what Fox news tells you to think or say about it.
Obama wants to tax very wealthy people at a rate commensurate to the rest of America. Go look up commensurate before you read the rest of my post.
If Billionaires and Millionaires were taxed at the same level as families that make $60,000 a year, I think that would be very fair. But when the extremely rich are taxed at a lower level than a family barely making ends meet, that’s not fair.
So let me get this straight. Rich people will not want to make more money if they are taxed at a fair level commensurate with the rest of the country? Give me a break. Rich people got rich by wanting to make money regardless of what the tax rate is and nothing is going to change that.
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No, because the rich discriminate against the lower classes every single day. It’s about time they got a taste of their own medicine.
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Something that libs ignore – the dollars that were invested as stocks, etc were at some point in their history already taxed before as income through wages, business venture, etc. When that individual (including you, me or Romney) buys a share of stock from that initial income and then sells that share of stock that has made a gain, he is charged another 15 percent as a capital gain on that share. Romney has almost all of his income through capital gains, so he only pays the 15 percent tax (as all shareholders do), but at some point in the past those initial investment dollars were subject to a prior tax as personal income. I am not a rich guy, but I do buy stocks. If I make $100 a week I am charged a federal, state and local tax on that income. When I buy a share of stock out of that income and eventually sell it at a net gain I am taxed again at 15 percent for capital gains. The idea of keeping the capital gains tax low is to encourage investment. Over the years In every case when the capital gains tax is LOWERED by the gov, a net gain in gov income results. Conversely, when the gov INCREASES the capital gains tax, a net loss of gov income results. This phenomena effectively demonstrates the principle of the Laffer Curve (economics).
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Hisory.
I remember in 2008 Obamas campaign slogan was "Share the wealth". He told "Joe the Plumber" that all Americans will have to share the wealth by paying their "Fair Share".
I cannot see a more clear definition of socialism than that slogan.
If you use "Ram"s logic(one of your answers) like many liberals think than a flat tax without any loop holes whatsoever would accomplish everyones fair share. Whether you make $20k or $20 million a year everyone pays a flat rate. In basic math that seems to work but in practical theory it cause people to rebel, even the liberals like Ram. If the so called "Rich" who take all the risk for their reward, pay that flat rate with absolutely no loop holes then you have the so called rich paying over 90% of the tax revenue each year. How do you think they got to be successful? They will compensate the greater amount of taxes paid by either raising prices, cutting wages or re-locating to another location that rewards companies for competitive production. Even Obama admits that. He wants to reward with "TAX BREAKS" corporations that stay in America and hire American workers. And even the $20k a year person will be complaining that they have no write offs. So you see the flat tax where everyone pays the same percentage cannot possibly work in a capitalistic society.
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