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Jadex said, "Not your income tax, not your payroll tax, not your capital gains taxes,"
I wonder how many people realize that to most taxpayers payroll taxes are what is withheld from their wages and are the same thing as income taxes.
As for capital gains, how many realize what all these taxes are paid on? I think very few. I know an old man, who is certainly old since he is older than I am, whose son told him to sell all that CRP grassland to bird hunters who will give him up to $2000 per acre. The old man said do you realize how my capital gains tax would eat me up. He says he paid $150 for that land many, many years ago and a profit of $1850 would result in the federal government getting nearly all of his profit. On top of that, they would charge him income taxes on what he got.
Talk about taxation without representation and ignore the fact that Obama just never could want to get rid of capital gains. He wanted to increase them by nearly 100% to get the rate back to Clinton days.
Quote:
Originally Posted by roosevelt
Not only are increases in taxes coming, but increases in percentage of income paid to the IRS based on how much you earn. Back in the 50's I recall Joan Crawford turning down $25,000 to appear on television (that was an enormous amount of money back then), she turned it down because it would have put her into a different tax bracket and cost her far more than the $25,000. In effect, this type of taxation appeals to the poor (where the votes are?) but severely hurts the economy.
1. He would not be the first president to break a campaign promise. "Read my lips, no new taxes."
"Read my lips: no new taxes" is a now-famous phrase spoken by then presidential candidate George H. W. Bush at the 1988 Republican National Convention as he accepted the nomination on August 18. The impact of the election promise was considerable, and many believe it helped Bush win the 1988 presidential election.
Once he became president, however, Bush raised taxes as a way to reduce the national budget deficit.
2. The story about the old guy selling/no selling his land has no relevance to Obama. Plus, the old guy was probably being short-sighted. He probably still would have made money.
3. Ditto the story about Joan Crawford, who certainly had enough money.
"Read my lips: no new taxes" is a now-famous phrase spoken by then presidential candidate George H. W. Bush at the 1988 Republican National Convention as he accepted the nomination on August 18. The impact of the election promise was considerable, and many believe it helped Bush win the 1988 presidential election.
Once he became president, however, Bush raised taxes as a way to reduce the national budget deficit.
2. The story about the old guy selling/no selling his land has no relevance to Obama. Plus, the old guy was probably being short-sighted. He probably still would have made money.
3. Ditto the story about Joan Crawford, who certainly had enough money.
"Read my lips: no new taxes" is a now-famous phrase spoken by then presidential candidate George H. W. Bush at the 1988 Republican National Convention as he accepted the nomination on August 18. The impact of the election promise was considerable, and many believe it helped Bush win the 1988 presidential election.
Once he became president, however, Bush raised taxes as a way to reduce the national budget deficit.
2. The story about the old guy selling/no selling his land has no relevance to Obama. Plus, the old guy was probably being short-sighted. He probably still would have made money.
3. Ditto the story about Joan Crawford, who certainly had enough money.
I guess someone in a round-about way tried to defend Obama. To bad there is no defense for his lies and broken promises. It is comical when faced with the truth the liberals are all hiding with their heads in the sand.
I guess someone in a round-about way tried to defend Obama. To bad there is no defense for his lies and broken promises. It is comical when faced with the truth the liberals are all hiding with their heads in the sand.
It was not meant to be a defense of Obama. Actually, I think all candidates probably end up breaking some of their campaign promises.
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