obama's Goal: Destroy The Rich?

[smitty]

In 2008 a moderator ask obama a question and his responce: “I would look at raising the capital gains tax for purposes of fairness.”    Fairness. Not prosperity. Fairness!

 

http://www.breitbart.com/Big-Government/2014/07/07/Why-the-White-House-Wants-Amnesty?utm_source=e_breitbart_com&utm_medium=email&utm_content=Breitbart+News+Roundup%2C+July+7%2C+2014&utm_campaign=20140707_m121235842_Breitbart+News+Roundup%2C+July+7%2C+2014&utm_term=More

[Big girl]

You do know that president obama is rich.

[Big girl]

He said fairness because billionaires were paying less of a percentage of their income for taxes when compared to common folks. Romney paid 13%, my husband and I are in the 28 % bracket. We only make around 150000/yr collectively

[stevenash]

To what extent to do we go to make things "fair".  Half of the country pays no income tax at all.  Why aren't they part of Obamas "shared sacrifice"?

[smitty]

He said fairness because billionaires were paying less of a percentage of their income for taxes when compared to common folks. Romney paid 13%, my husband and I are in the 28 % bracket. We only make around 150000/yr collectively

BigGirl -- Who decides what is fair?

[TROJANSWIN]

He said fairness because billionaires were paying less of a percentage of their income for taxes when compared to common folks. Romney paid 13%, my husband and I are in the 28 % bracket. We only make around 150000/yr collectively

So out of curiosity, do you think you are getting your money's worth out of the $42,000 you pay each year? What does your government provide you for $42,000 per year? I have a feeling you are getting ripped off!!

[stevenash]

TTT- come on big girl, you can answer this without consulting your friend with the MBA in economics who understands macroeconomics better than me.

[Big girl]

So......you guys are okay with billionaires only paying 13% of their income in taxes?

[CraigS]

So......you guys are okay with billionaires only paying 13% of their income in taxes?

 

So......you guys are okay with billionaires only paying 13% of their income in taxes?

more so than the so called poor (47% of the population) paying 0% or in some cases actually getting returns, making it a negative in that regard.

 

do the math -

13% of 1,000,000 (one million) is - $130,000

13% of 1,000,000,000 (one billion) - $13,000,000

 

they are paying plenty (in capital gains tax) their INCOME tax is taxed at the same rate as everyone else's, they also pay the same property tax (probably more since they own LARGE estates), not to mention the sales tax on any and all of the other high priced toys - cars, boats, vacation homes, etc.

[stevenash]

And a considerable amount of taxes are paid when they pass their assets to their heirs.

[CraigS]

besides, you and/or anyone else that so chooses to invest your money will pay the same amount (13%) as the big bad evil millionaires on your CAPITAL GAINS - NOT INCOME....please consult with you expert economics guy, surely he can explain the difference to you, so you can stop sounding so ignorant.

[stevenash]

Once again, Chris Christie recently stated that the top 1% of earners pay 41% of all taxes collected in the state of New Jersey.  When they decided to get "cute" with the tax code, the top 1% simply quit selling assets( thus not realizing capital gains and paying the taxes associated with said gains) and moved money from dividend paying assets ( more taxes paid on dividends when paid) to assets that either pay tax free income or are more likely to pay a gain at some point in the future.  As usual, the government, reduced total revenues rather than increasing them ( even though"fairness" sounded so good)  New Jersey had a 700 million revenue shortfall.

[TROJANSWIN]

So......you guys are okay with billionaires only paying 13% of their income in taxes?

No, I think 13% is too high! I don't think anyone should pay that much. What are we getting for our taxes? What does the federal government do for us for that amount of money?
I am still waiting for your answer of what you get for your taxes that you pay!!
We (you and I) are getting ripped off! If it wasn't the government doing it, people would be put in prison.

[Big girl]

The capital gains tax is now 20%.

[stevenash]

Yes it is and fewer people are selling assets so as not to incur the capital gains rate.  Great strategy.

[smitty]

He said fairness because billionaires were paying less of a percentage of their income for taxes when compared to common folks. Romney paid 13%, my husband and I are in the 28 % bracket. We only make around 150000/yr collectively

BigGirl -- let me ask you again:   Who decides what is fair??