Monday, September 19, 2011

It Should Also be Noted that Obama's Tax Plan... not about taxing Jamie Dimon and Lloyd Blankfein. They have accountants that will find the loopholes. They in fact will be beneficiaries of the increased taxes, since the government shovels money to them on a daily basis.

Thus, the kind of thinking, as displayed by Dan Gillmor, is absurd:
The rich have waged economic war on the middle class and poor for decades. Now it's class warfare to ask them to pay fair marginal tax rate?
Lloyd Blankfein and Jamie Dimon have waged war on the middle class, not all producers. The Obama plan proposes a 4.5 percent surtax on those with incomes over $1 million in addition to his plan to raise taxes on individual incomes over $200,000 and reduce charitable deduction rates for high earners.

This will damage producing farmers, inventors, small businessmen and overall high-income tax payers.

Obama and his crony supporters will come up on top, as usual, and he will continue to shovel money to his cronies like those at Solyndra.


  1. We need to deal with a simple fact in the US: Taxation is theft. It is the antitesis of Americana. At it's heart are two questions:

    1) Can I steal from my neighbor?
    2) Can I authorize another party to steal for me?

    Both answers are a resounding 'no', and therefore the government cannot have, and cannot legitimatly claim, the power to tax.

    The only other option is to institute a user-fee based system of public services. Those services that do not generate enough revenue to continue are either not needed, or are better provided by the priovate sector.

    Kiss the welfare/warfare state goodbye.

  2. Achtung!"The rich must pay their fair share" a message from the Ministry of Truth.
    In their ever more powerful waves of coercive thrusts the Washington apparatchiks rally the unemployed,pissed off masses on food stamps to wrestle whatever capital is left out from the hands of ingenuous and dedicated entrepreneurs,well to do farmers,inherently wealthy independent minds depriving them further of firepower against sweeping totalitarian mandates brewing in the pipes.The Balkanization of America in action.Never miss a good crises...Bye,bye New York,hello Bombay!!!

  3. Has anyone read the actual document? If you do you will see that there is a very minimal discussion on this millionaires/billionaires tax other then really re-iterating that billionaires and millionaires should pay taxes on income at a rate equivalent to a middle class person. It defines, neither what income is or what middle class rate is the minimum. Its far more detailed on the parts where he intends to stick it to the upper middle class tax slaves.

    The more you read in this document, the more you realize that it is not a serious plan to draft legislation upon, but instead a political platform for this assholes 2012 re-election. Its a plan to satisfy the mindless plebeians. I guess this is what the final days of a great empire look like.