I swear by my life and my love of it that I will never live for the sake of another man, nor ask another man to live for mine." -- John Galt
I never did understand class warfare or why people could let their jealousy of others who had more completely override their sense of survival and not understanding it was those "rich" people that paid the majority of income taxes, were responsible for the employing the masses, offering healthcare, and basically paying everyone else's way with the government.
What I understood even less is how anyone could consider "estate taxes" right or fair at all.
A person works their butt off, pays income taxes on every dollar earned, pays taxes for everything they spend that money they earned on when purchasing the basic essentials to live on or buying whatever they want with their money, just to know that when they died and left that money that has already been taxed massively to their families, it would be taxed yet again by our government.
Administration officials described the new proposals not as tax increases, but as eliminating "tax loopholes."
One element would raise an estimated $24 billion over 10 years by tightening estate-tax rules, giving taxpayers less flexibility to minimize their liability on inherited goods by claiming a different value on the same item for different transactions.
Legalized robbery and Barack Obama is about to steal more.
Now he is facing even some Democratic opposition to these plans while the "rich" that helped him obtain office are starting to get a little worried about their own money.
Wealthy Wall Street financiers and other business figures provided crucial support for Mr Obama during the election, backing him over the Republican candidate John McCain as the right leader to rescue the collapsing US economy.
But it is now dawning on many among them that Mr Obama was serious about his campaign trail promises to bring root and branch reform to corporate America - and that they were more than just election rhetoric.
[...]
Mr Obama made no secret of his plans to raise taxes on the "working rich" (individuals earning more than $200,000) by imposing a top income tax rate of almost 40 per cent, and there is little surprise that those plans remain on track, even during the worst economic crisis since the Great Depression.
But Democratic opposition is building in Congress to many of the President's proposals. A plan to reduce tax deductions for charitable gifts by richer people may have to be scrapped, because the charitable sector - which includes hospitals, museums and voluntary service groups - depends heavily on tax-deducted donations.
Charles Rangel, the New York chairman of the Ways and Means Committee, which drafts tax legislation, raised a red flag about the proposal last week. "I would never want to adversely affect anything that is charitable or good," he said.
Going after the rich, the successful to pay for everything else is a sure way to encourage the rich to leave...say enough is enough.
Don't believe me?
Well, let us see how it works in other places.
Example- Michael Caine speaking about the massive taxation in the UK:
The Government has taken tax up to 50 per cent, and if it goes to 51, I will be back in America." It's Budget Day, and the actor – who decamped to the States as a tax exile in the Seventies – is irked by the new 50 per cent income tax for the highest earners.
"I will not pay the Government more than I get. No way, ever," he says. "They've reached their limit with me, and that's what will happen to a lot of people. You know how much they made out of that high taxation all those years ago? Nothing. But they sent a mass of incredible brains to America.
"We've got three-and-a-half million layabouts laying about on benefits, and I'm 76, getting up at 6am to go to work to keep them. Let's get everybody back to work so we can save a couple of billion and cut tax, not keep sticking it on."
He is right, it will happen to more people but my advice to him would be to choose somewhere else, because America is heading straight in the same direction the UK has gone and will start losing those same brains because of the unfairness being shown them.
Mr Obama made no secret of his plans to raise taxes on the "working rich" (individuals earning more than $200,000) by imposing a top income tax rate of almost 40 per cent, and there is little surprise that those plans remain on track, even during the worst economic crisis since the Great Depression.
Why should people that work to make more money be punished by paying 40 percent of what THEY earned to the government?
We can rant, we can rave all we want but it falls to those making the money and having it stolen from them to say ENOUGH is enough because those getting a free ride from that stolen money, certainly aren't going to stand up for them and it is obvious their President doesn't give a damn about them.
We need out own Michael Caine here in America, in fact, we need hundreds of them.
I end this as I started it, asking one question.
Who is John Galt?
I swear by my life and my love of it that I will never live for the sake of another man, nor ask another man to live for mine." -- John Galt
