Obama has proposed tax hikes in every State of the Union

[luckytxn 2,263]

Socialists usually do.

Proposed tax hikes on capital gains and banks will be included in President Obama’s State of the Union address Tuesday, according to a White House announcement Saturday. The announcement continues Obama’s tradition of proposing tax hikes in his six previous State of the Union addresses dating back to 2009. Here’s a list detailing Obama’s proposed tax hikes:

2015

Obama will call for a capital gains tax hike on high-earners from 23.8 percent to 28 percent, nearly double the 15.35 percent rate when he took office. He also wants to change the treatment of inherited capital gains so that inheritors end up paying more to the government. Banks with assets over $50 billion would also be hit with a new 0.07 percent tax on their liabilities, raising $100 billion over 10 years. These changes combine for a $300 billion tax increase over 10 years.

link: http://www.washingtonexaminer.com/obama-has-proposed-tax-hikes-in-every-state-of-the-union/article/2558879

[lostinblue 1,989]

Every state of the union he has asked for tax hikes on the rich . This one involves taxing small business owners estates and destroying what chance they had of passing down that business to their family...

[decocker 7,198]

it's all about hurting the little guy to make the big guy even bigger.

[LibCampFireClub 635]

Down with the rich!!!!

Wait minute. Rich folks are the ones who created my job and write my paycheck. What happens if I do an 0booma Paycheck chorus on them? No worries, the emperor has our backs!

[decocker 7,198]

What happens if I do an 0booma Paycheck chorus on them?

what's an obooma paycheck chorus?

[LibCampFireClub 635]

what's an obooma paycheck chorus?

It's the screw the damned rich song, originated by none other than Johnny Paycheck. It's a catchy tune you should add to your repertoire. You can sing it when you stand in the socialist breadline.

[decocker 7,198]

It's the screw the damned rich song, originated by none other than Johnny Paycheck. It's a catchy tune you should add to your repertoire. You can sing it when you stand in the socialist breadline.

johnny paycheck died before obama took office. i don't follow.

you have me confused with someone else, exexpat. i don't stand in a bread line, i work. always have. yep, working girl smart enough to know that the rich will keep getting richer and i'll be working till i die.

[Mr. Big Dog 10,747]

Oh yes, the rich are really screwed. By next year, 1% of the world's population will control more than half of the world's total wealth. There will be 80 individuals that together will own more than the bottom half of the world's population - that's some 3.5 billion people - combined. You gotta really let that sink in. And then you ought to ask yourself just how these rich folk are screwed. The fact is, the rich screw everyone else to get ever richer.

[I AM NOT THAT GUY 5,715]

The one tax that should worry folks most, especially those of retirement age, or getting close to retirement age, is the proposed tax on accumulated wealth. I guess that means everybody will be required to fill out a statement of net worth each year, and based on that, pay a tax surcharge for being a paper millionaire.

[JohnR! 5,495]

How can that be? Wasn't the wealth supposed to trickle down at some point?

Oh yes, the rich are really screwed. By next year, 1% of the world's population will control more than half of the world's total wealth. There will be 80 individuals that together will own more than the bottom half of the world's population - that's some 3.5 billion people - combined. You gotta really let that sink in. And then you ought to ask yourself just how these rich folk are screwed. The fact is, the rich screw everyone else to get ever richer.

[decocker 7,198]

The one tax that should worry folks most, especially those of retirement age, or getting close to retirement age, is the proposed tax on accumulated wealth. I guess that means everybody will be required to fill out a statement of net worth each year, and based on that, pay a tax surcharge for being a paper millionaire.

there will be very few even paper millionaires if we keep on this route.

i don't think retirement is going to be very attainable for my generation. not unless they were born into money to begin with.

[Mr. Big Dog 10,747]

How can that be? Wasn't the wealth supposed to trickle down at some point?

I can't fathom that there are imbeciles out there that really still fall for that trickle down nonsense.

Those must be the people that you can pee on and they'll believe you when you tell them that it rains.

[JohnR! 5,495]

And yet, there is this thread...

I can't fathom that there are imbeciles out there that really still fall for that trickle down nonsense.

Those must be the people that you can pee on and they'll believe you when you tell them that it rains.

[I AM NOT THAT GUY 5,715]

there will be very few even paper millionaires if we keep on this route.

i don't think retirement is going to be very attainable for my generation. not unless they were born into money to begin with.

Do you own your own home and the land it sits on? If so, for most people, that is your retirement. It is fairly easy over a lifetime to acquire enough assets to put one into or close to millionaire status, yet still be cash poor.

[decocker 7,198]

Do you own your own home and the land it sits on? If so, for most people, that is your retirement. It is fairly easy over a lifetime to acquire enough assets to put one into or close to millionaire status, yet still be cash poor.

nope. i've been renting since 1997.