does Obama want to raise taxes on the rich except?

Question

for his buddies on wall street and bankers. they have many loop holes so that their secretary pays more taxes then they do.

Answer 1

lol, Democrats are the ones who get almost all of the support from the super wealthy, there is a reason for it. They give those who bribe them special treatment. Not just loop holes, but free pork money.



Obama wants to keep down his super wealthy supporters competition, making sure others don't make it there by taxing the crap out of small business and those who are growing but not quite big enough to pay the bill to play Obama's organized crime bribery quid pro quoe game



Obama is the biggest selective player as president we've had in my life time, he's flipping amazing the way he just takes from the legal owners group and gives to those who he wants to, and uses extortion when they complain like the bond holders on the Auto Companies for pension funds he just a year or so ago? screwed all those retired people out of in favor of the Unions.

Answer 2

confident, I certainly have often puzzled approximately that honest share corporation. i comprehend that I pay taxes as quickly as I fill out my 1040s each 3 hundred and sixty 5 days, yet I continuously look to get a small examine decrease back simply by toddler tax credit, which additionally covers a solid area of my taxes paid. we are no longer rich (blended myself, my husband, and the SS death income for my daughter which we pay taxes on comes out approximately $seventy 5,000). till now I have been given married, my daughter's SS examine did no longer even require reporting, I have been given earned income credit, and income taxes certainly paid got here out to approximately $350, and we continuously have been given over $3500 decrease back simply by EIC and overpayment refund. in case you do the mathematics, those under $50,000 do no longer pay taxes in any respect and acually get a income from the IRS, and those above pay extremely. hence, because it fairly is, theoretically the rich are already the source of income tax sales. techniques boggling, isn't it? stay to journey, journey to stay

Answer 3

If President Obama raises tax on large listed companies, the shareholders will pay the tax increased taxation. It is doubtful that many of his friends on Wall Street will pay a lot more income tax. They usually know how to organise things to minimise income tax payment.



However, given the amount that governments, and not just the government in the USA, have put into government stimuli and trying to bail out companies and protect banks from collapsing, they are going to have to pay down their respective debts some how.



Unfortunately this usually equals some form of taxation. It is better to equal increased income tax on those who can afford to pay, the well off, than a flat tax like a 10% sales tax that everyone has to pay. It means that pensioners and those on lowest incomes pay the same tax on a purchase as a billionaire. This can never be fair. Those who support it say that the wealthy buy more. Yes they do but they usually have ways of getting reimbursements through businesses on consumption taxes and they never spend as large a percentage of their income on consumer goods and services as someone on a low income. Therefore the percentage of their income paid in flat tax is always a lot lot lower.



I hope that this makes sense.



Cheers!!!



Kevin, even this morning's "The Australian" news paper has President Obama holidaying at Matha's Vinyard with his family. We also know that Presidents and Prime Ministers are on call when necessary 24/7.

http://www.theaustralian.com.au/news/world/barack-obama-facing-fury-for-choosing-exclusive-holiday-destination/story-e6frg6so-1226119075555

Fire broke out at Blue Heron retreat

http://www.dailytelegraph.com.au/news/breaking-news/fire-breaks-out-at-us-president-barack-obamas-vacation-retreat-in-marthas-vineyard/story-e6freuyi-1226112149318

http://mvgazette.com/article.php?31453

Answer 4

Why not? Last year all the tax cuts and rebates cost $1.9 trillion and all Americans got was 10% unemployment, a weak dollar, credit downgrade and high import costs.



Here is the real kicker:



Obama Jobs Plan Meets Early Resistance From Republicans

http://www.huffingtonpost.com/2011/08/21/republicans-already-balki_n_932453.html



"Rep. David Camp (R-Mich.), chairman of the Ways and Means Committee, said he also opposed the 12-month tax cut because it would cost the government about $120 billion next year if it were renewed."



This guy is bitching about $120 billion for ordinary people but defends almost 2 TRILLION for folks who deliver nothing. Republicans will fight for tax cuts for their wealthy friends and screw everyone else.

Answer 5

No, the abuses you note should be fixed. No one I know, advocating that the rich pay their fair share, argues for secretaries paying more than their bosses.



I agree, that is a problem. The President should fix that problem as well as the tax rates.

Answer 6

Unscramble your brain and put the facts in their proper places.



If the Democrats had their way now, we all would be much better off. Unfortunately they were too

bi-partisan while having most of the Power. Well. we have learned a great deal in a very short time.

and pay-back is a B x x x x. Looking forward to those days.

Answer 7

You mean their secretaries pays higher tax rate than them because they pay Capital gain tax rate and not income tax rate like their secretaries. A bit misleading there, don't you think?

Answer 8

You can count on something underhanded and unfair out of Obama. That's just what the left, and particularly Obama is.



Obama is exempt from ObamaCare, his big biz friends, the unions and all of the elected that voted for it/. yet, they shackled the average person. THAT is just one example of what the left does,.



.

Answer 9

Yes. It's those very loopholes he's been addressing (and the GOP has been pushing back on).

Answer 10

Nice try, but that's what the c0ns are doing, not the dems.

Answer 11

No, I don't think he'll let them get away with their loopholes for much longer!

Answer 12

Yup, and himself.

Answer 13

Please dont talk badly about Obama. He's on vacation and doesn't what to worry about your problems.

Answer 14

it won't matter soon enough..!!!