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The president has no understanding of the unique role wealth plays in American life.


With less than 19 months left before the next presidential election, Barack Obama has kicked off his campaign, doing coast-to-coast "town hall" meetings last week. At the top of President Obama's re-election strategy is what appears to be a personal jihad against America's "millionaires and billionaires," many of whom, he seems to think, are—there's no other word for it—un-American. So naturally the place he picked to pitch an assault on the wealthy was the Silicon Valley headquarters of Facebook, a place filled with millionaires and billionaires.

As has become his habit, Mr. Obama pulled his audience into his narrative by personalizing public policy. And so it was with his Facebook host, Mark Zuckerberg.

The president: "And then what we've said is let's take another trillion [dollars] of that that we raise through a reform in the tax system that allows people like me—and, frankly, you, Mark—for paying a little more in taxes." (Laughter.)

Mr. Zuckerberg: "I'm cool with that."

Well, what's a 26-year-old billionaire supposed to say?

What Mr. Obama said later in the Facebook meet-up wasn't so funny. Here it is, in toto:

"But I think that what he [Rep. Paul Ryan] and the other Republicans in the House of Representatives also want to do is change our social compact in a pretty fundamental way. Their basic view is that no matter how successful I am, no matter how much I've taken from this country—I wasn't born wealthy; I was raised by a single mom and my grandparents; I went to college on scholarships. There was a time when my mom was trying to get her Ph.D, where for a short time she had to take food stamps. My grandparents relied on Medicare and Social Security to help supplement their income when they got old. So their notion is, despite the fact that I've benefited from all these investments—my grandfather benefited from the GI Bill after he fought in World War II—that somehow I now have no obligation to people who are less fortunate than me and I have no real obligation to future generations to make investments so that they have a better [future]."

One may assume there are more than a handful of liberals who would cringe at such a gross caricature. Mr. Obama has gone to this "millionaires" well so many times since the first days of his presidency that one would have to be obtuse not to recognize a visceral animosity beneath these sentiments.

It suggests that Mr. Obama has not much more understanding beyond an undergraduate seminar on "Class in America" of the complex and unique role wealth has played in American life. Since the Pilgrims, no nation has seen more wealth flow back from those who earned it into the welfare of the nation they inhabit.

Andrew Carnegie alone built more than 1,600 libraries in the U.S. Today, according to Internal Revenue Service data, there are some 110,000 grant-making private foundations in the U.S. Beyond the foundations bearing the names of famously undertaxed plutocrats such as Warren Buffet and Bill Gates there are another hundred thousand or so, often run by modestly wealthy families whose foundations support a vast array of needs—scholarships, schools, hospitals, cultural institutions and even causes across the political spectrum, no doubt including windmills.

The Center on Wealth and Philanthropy at Boston College reports that giving by individuals hit an astounding $243 billion in 2007. As to the millionaires, the report says, "In that year, households with $1 million or more in net worth gave 52%, or $126.15 billion." During the 2008 recession, their giving dropped 4% "because there were 27% fewer millionaire households at that time." But by the end of 2009, giving by millionaire households returned to 52% of the national total.

It is an eternal question whether the deductibility of such spending means the charitable activity by these people is bogus and driven only by self-regard. One man's answer: Eliminate the charitable deduction, drop—or flatten—the top tax rate and total giving will rise, not fall. Giving is what Americans do, at all income levels.

It becomes clearer by the day that Barack Obama's worldview is that if money isn't spent by the federal government, it's somehow irrelevant. What began with the $800 billion stimulus in 2009 has turned into a personal compulsion to fund his galaxy of public "investments," such as high-speed rail and biofuels research.

His trivial-sounding suggestion that people, like him, should be willing to pay "a little more" is almost surely a downpayment on future requests for tax-like transfers from a much broader swath of incomes to his own foundation, the federal budget.

Medicare, Social Security and Medicaid (and now ObamaCare) are federal entitlement programs that sit at the center of a historic and complex problem of public finance. To speak out about that problem should in no sense expose anyone to moral denunciation by the president of the United States.

http://online.wsj.com/article/SB10001424052748704187604576289150413609560.html
 

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The president has no understanding of the unique role wealth plays in American life.


With less than 19 months left before the next presidential election, Barack Obama has kicked off his campaign, doing coast-to-coast "town hall" meetings last week. At the top of President Obama's re-election strategy is what appears to be a personal jihad against America's "millionaires and billionaires," many of whom, he seems to think, are—there's no other word for it—un-American. So naturally the place he picked to pitch an assault on the wealthy was the Silicon Valley headquarters of Facebook, a place filled with millionaires and billionaires.

As has become his habit, Mr. Obama pulled his audience into his narrative by personalizing public policy. And so it was with his Facebook host, Mark Zuckerberg.

The president: "And then what we've said is let's take another trillion [dollars] of that that we raise through a reform in the tax system that allows people like me—and, frankly, you, Mark—for paying a little more in taxes." (Laughter.)

Mr. Zuckerberg: "I'm cool with that."

Well, what's a 26-year-old billionaire supposed to say?
...

It suggests that Mr. Obama has not much more understanding beyond an undergraduate seminar on "Class in America" of the complex and unique role wealth has played in American life. Since the Pilgrims, no nation has seen more wealth flow back from those who earned it into the welfare of the nation they inhabit.

...
What this writer seems to ignore or not understand is that Obama doesn't care one bit about this stuff. It's popular with his 'fan base', it's what got him elected, and that's how he plans on getting re-elected.

If he thought he could get re-elected by mandating circumcisions for all white males, he'd propose it.
 

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Excellent article. This country definitely benefits in many ways from having a few rich and super rich people. Knock those people down, and this won't be a fun place to live. The left talks a lot about the "responsibility" of the rich to share their wealth, but what about the responsibility of the masses to start early preparing for a life of taking care of themselves instead of doing drugs, dropping out of school, having non-stop sex and millions of babies they don't want and can't support - while being happy to live off of the hard work of others? Why don't we ask them to "give a little bit more" of their energy to becoming self sufficient?
 

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Excellent article. This country definitely benefits in many ways from having a few rich and super rich people. Knock those people down, and this won't be a fun place to live. The left talks a lot about the "responsibility" of the rich to share their wealth, but what about the responsibility of the masses to start early preparing for a life of taking care of themselves instead of doing drugs, dropping out of school, having non-stop sex and millions of babies they don't want and can't support - while being happy to live off of the hard work of others? Why don't we ask them to "give a little bit more" of their energy to becoming self sufficient?
Because none of that will get you, or keep you, elected. :laughing:
 

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Excellent article. This country definitely benefits in many ways from having a few rich and super rich people. Knock those people down, and this won't be a fun place to live. The left talks a lot about the "responsibility" of the rich to share their wealth, but what about the responsibility of the masses to start early preparing for a life of taking care of themselves instead of doing drugs, dropping out of school, having non-stop sex and millions of babies they don't want and can't support - while being happy to live off of the hard work of others? Why don't we ask them to "give a little bit more" of their energy to becoming self sufficient?
While this sounds great in theory...how will we pay off our national debt??? We could do away with all spending and start putting all our revenue into paying down the debt and it would take 100s of years.

Will you give up your social security, medicair and medicaid???

The solutions to our debt problems lie in only one place. We have to cut a lot of spending everywhere, and we have to raise taxes alot on everybody but especialy on those that can afford to pay alot without starving. The only alternative is to raise taxes on the middle class to the point that they die, and even then there won't be enough to solve our debt problems.

We did something realy stupid...we cut taxes and started two wars. We spent like there was no tommorow while we let taxes go to the lowest rate since the 1950s. When the recession hit things got even worse as people who were losing millions stopped paying any taxes so our hole got even deeper.

You can not say that the taxing the rich is a bad thing and then say that the debt is a bad thing with out sounding stupid. Every republican that says we can cut taxes to get us out of this debt is lieing to you. You cannot cut taxes to raise income. It's time to grow up and look at things realisticaly.:crazy:
 

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Discussion Starter · #6 ·
If only we had some sort of "money for nothing" that we could drive taxes from... like the tech boom. Then... we could tax the **** out of it. High taxes never spurs growth.
 

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While this sounds great in theory...how will we pay off our national debt??? We could do away with all spending and start putting all our revenue into paying down the debt and it would take 100s of years.

Will you give up your social security, medicair and medicaid???

The solutions to our debt problems lie in only one place. We have to cut a lot of spending everywhere, and we have to raise taxes alot on everybody but especialy on those that can afford to pay alot without starving. The only alternative is to raise taxes on the middle class to the point that they die, and even then there won't be enough to solve our debt problems.

We did something realy stupid...we cut taxes and started two wars. We spent like there was no tommorow while we let taxes go to the lowest rate since the 1950s. When the recession hit things got even worse as people who were losing millions stopped paying any taxes so our hole got even deeper.

You can not say that the taxing the rich is a bad thing and then say that the debt is a bad thing with out sounding stupid. Every republican that says we can cut taxes to get us out of this debt is lieing to you. You cannot cut taxes to raise income. It's time to grow up and look at things realisticaly.:crazy:
First of all, assuming you are talking about the top marginal rate, your facts are wrong. The lowest in modern times was the late 80's with Reagan's tax cuts (28%). They went to 39.6% in '93, then went to 35% in '05. The last time they were lower than those figures was 1931 when the rate was 25%. If you think the intervening years of 1932-1981 were about right, I hope they come to you asking for the 70-91% they were during that period.
Link: http://www.truthandpolitics.org/top-rates.php
Conservatives are not trying to solve the problem with tax cuts as you state. They are standing their ground against tax increases, because one won't be enough for the libs. The more we tax, the more weight we are putting around the neck of the economy in general. We must find ways of cutting spending, we must get the economy booming again - this is by far the best way to increase revenue - and if we must raise taxes, it should touch everyone but those below the poverty line. There are not enough rich people or enough money in their hands to solve our debt problem.
 

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So you guys think we will grow our way out of our debt problems?? Do you know how much our economy would have to grow to pay our debt??? You better wake up guys...if taxes don't go up and I mean way up our deficts and our debt will never let our economy grow by any decent amount.
 

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So you guys think we will grow our way out of our debt problems?? Do you know how much our economy would have to grow to pay our debt??? You better wake up guys...if taxes don't go up and I mean way up our deficts and our debt will never let our economy grow by any decent amount.
I don't think there are any believable numbers that show we can tax our way out of this. There isn't enough money anywhere to tax us out of it. And if we go way up as you say, much of the revenue gain will be lost in economic slowdown. Taxes are not the answer. Spending cuts are not the answer, Growth is not the answer. There may not be an answer, but if there is there are two things for damn sure:
1. Adding mammoth new programs at this time is insane
2. All of the above methods will have to be part of the solution. As I've said many times, raise taxes on essentially everyone, and I'm in. Raise taxes on 2% of the population, and you are not serious about raising revenue through taxes. You're only interested in soaking the rich.
 

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while this sounds great in theory...how will we pay off our national debt???
Stop spending money we don't ****ing have!!! That's how!!!
 

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So you guys think we will grow our way out of our debt problems?? Do you know how much our economy would have to grow to pay our debt??? You better wake up guys...if taxes don't go up and I mean way up our deficts and our debt will never let our economy grow by any decent amount.
Feel free to send extra money to the government rich guy:thumbsup:
 

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Discussion Starter · #12 ·
I'm curious as to why some would believe that the government would use the money from a tax increase to pay down the debt ? -especially when it could not be anywhere near the amount needed to simply dent the debt.

We need to lower our corp tax rates to 25% or below. We are the only country that is doing the opposite of this... and then complaining that the jobs are leaving and the Corps are using loopholes to get out of paying their fair share.

Same goes for personal taxes employment and capital gains... lower them permanently. A tax cut does nothing but give a short term loan to the government to expand upon the extra receipts that come in... only to turn around and raise taxes to pay for what they have expanded and created. That is what happened over the last 10 years under both parties. Permanently lower them. They will more then pay for themselves as they have every single time in history without fail. This includes everybody that makes an income.

The 45% of Americans that do not pay any taxes... even at the lowest income levels... must be made to pay in. THEY contribute the least and are the greatest draw on our tax receipts.

Now, this just deals with taxes. You also have to deal spending and entitlements. We as a society have become too dependent upon government and not enough on the tried and true ways of family. Everything must be cut across the board... including grannies meals on wheels and church tax exempt status. Everything and everybody ... pays a little more.

There will be those that are hurt by this. Some may even die because there meals were not delivered. But... the hope is that the people in most generous and noble nation under Gods green earth will return to the ways prior to dependents upon big government and will feed those that need to be fed and take care of our own the way we used to. It will not be there if we continue the way we are now. Better that it is in our control for the most part... then in mayhem's control.

This is the way I see things. This is the way thing would go in my world.
 

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I dont see them raising taxes enough to even coming close to offsetting the debt. It will kill thier numbers in the polls. I dont see them cutting spending any time soon. We are in major debt right now and these ass hats want to wage war in Lybia. Implosion, that is how it is going to happen. They are going to pull our dollar oil status. Then the dollar aint going to be worth jack **** and much less then it currently is. Inflation is going to sky rocket, gas prices are going to go through the roof. Everything accross the board is going to go way up. Why do I think this is going to happen, THEY ARE NOT DOING ANYTHING TO CONTROL THE NATIONAL DEBT. Everyday that something is not done, the hole gets deeper and deeper. Am I crying "The Sky is Falling?" Could be, but I could see the housing issue before the excrament hit the fan, and now I am seeing this. If I am wrong then tell me so I can have some false hope.:huh:
 

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Excellent article. This country definitely benefits in many ways from having a few rich and super rich people. Knock those people down, and this won't be a fun place to live. The left talks a lot about the "responsibility" of the rich to share their wealth, but what about the responsibility of the masses to start early preparing for a life of taking care of themselves instead of doing drugs, dropping out of school, having non-stop sex and millions of babies they don't want and can't support - while being happy to live off of the hard work of others? Why don't we ask them to "give a little bit more" of their energy to becoming self sufficient?
The pride of running a profitable company while supporting families, and perpetuating America is no longer in existence.
In the bull market 90's with heavy profits, we have repeatedly seen companies farm out work overseas and sell off capital to foreign companies.
Under Bush tax cuts, it only increased the pace of the same while increasing corp wealth, the number of multi millionaires, while the middle class began to get assaulted on bennies and wages, and corps flush with cash and profits, fraud in trading, fraud in accounting, pyramid schemes, breached contracts with retirees just like Caterpillar did. All providing a steady economic gap increase and decline of the middle class.

It's very clear what happens when the wealthy get bailouts and tlc.
 

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......................




Born.............a preachers son.



Died a crook that looted employees, investors, banks and customers.

Maybe he just needed a bigger tax cut to stay clean? :huh:
More loopholes to play fair....? :huh:



Taxation made him do it? :huh:



ahhhhhhhhhhh...
Another fine Colonial American. :thumbsup:
 

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While this sounds great in theory...how will we pay off our national debt??? We could do away with all spending and start putting all our revenue into paying down the debt and it would take 100s of years.

Will you give up your social security, medicair and medicaid???

The solutions to our debt problems lie in only one place. We have to cut a lot of spending everywhere, and we have to raise taxes alot on everybody but especialy on those that can afford to pay alot without starving. The only alternative is to raise taxes on the middle class to the point that they die, and even then there won't be enough to solve our debt problems.

We did something realy stupid...we cut taxes and started two wars. We spent like there was no tommorow while we let taxes go to the lowest rate since the 1950s. When the recession hit things got even worse as people who were losing millions stopped paying any taxes so our hole got even deeper.

You can not say that the taxing the rich is a bad thing and then say that the debt is a bad thing with out sounding stupid. Every republican that says we can cut taxes to get us out of this debt is lieing to you. You cannot cut taxes to raise income. It's time to grow up and look at things realisticaly.:crazy:

The government cant solve the budget crisis

Because they Produce NOTHING ! :nuts:

Its all the good Blue Blooded Americans Like myself:nuts:

that Fabricate and Manufacture that will bring the country out of Depression

But we have many problems

1. The communist have invaded this place and are stripping this country of all its jobs and industry without restriction ( see Trump)
2. Mexico has been invading the USA for 2 decades now,

Somebody Please reach over and Slap one of these Fat ass blow hards in the head to wake them from their stupor

These people Despite never having served in our armed forces or ever even paid a cent in state or federal tax, are Stealing this country Blind and shipping the profits back to their familys in Mexico

They also Steal Jobs from Americans who are now sitting at home on Unemployment:nuts:

Our government needs to address these problems NOW !

They also need to focus on rebuilding the infastructure of our manufacturing industries so people can get back to work,

They in turn will Pay Taxes, Buy houses, cars, boats, Motor homes Etc: and our economy will then begin to thrive again


As of right now our Government and even industry is too top heavy

You have too many Ass holes that produce Absolutely NOTHING

Grabbing anything and everything they can get their hands on

Or the share holders buying Shares in the Oil corps who throw

50G out there and expect to reap huge profits all the while sitting at home on their Ass, scratching their balls at the computer aka: Cock Sk'ker's

Meanwhile what they are really doing is causing Mass inflation and preventing economic recovery here in America :nuts:
 
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