Obama Seeking Tax Increases on Wealthy

Discussion in 'Politics Discussion' started by SteakTartare, Jan 18, 2015.

  1. SteakTartare

    SteakTartare Senior Investor

    Joined:
    Mar 2014
    Posts:
    857
    Likes Received:
    11
    Well, well, well. It appears BO is looking to hike up taxes on the so called wealthy. The proposal will include raising capital gains and eliminating some inheritance tax breaks. Details can be seen here.

    Just what the economy needed. :rolleyes:
     
  2. gats

    gats Senior Investor

    Joined:
    Sep 2014
    Posts:
    79
    Likes Received:
    1
    I'm sure the ultra wealthy already know to take their money out of the United States by now. Maybe they can bring those dollars over here to Panama :).
     
  3. My401K

    My401K Well-Known Member

    Joined:
    Dec 2014
    Posts:
    221
    Likes Received:
    3
    I heard this on the radio this morning. Sometimes I feel like Obama just throws things out there to test the waters on what he might actually get away with. I think what he is trying to really push is paid sick days and more family leave time. So you have an agenda for something you want, what better thing to do to get your way than say "oh yes and we should tax these people that are rich." The same rich folks that run the small businesses that don't give leave. Makes perfect sense to me that then if he makes these business owners with the money think they are off the hook for a direct tax, they will not be so concerned about the indirect costs to payroll. Payroll is controllable. One way or another Obama will either get that cash or get his own way.
     
  4. Muthoni

    Muthoni Guest

    Joined:
    Aug 2014
    Posts:
    247
    Likes Received:
    0
    This is discrimination based on being wealthy. It would be a nice thing if the wealthy people are asked if they want to pay more. I think that the government should find a way to set up money making projects to fund their several projects instead of asking citizens to pay more. Those willing can donate to the government.
     
  5. tournique

    tournique Well-Known Member

    Joined:
    Jan 2015
    Posts:
    126
    Likes Received:
    0
    I do not think this is discrimination. The economy trickle effect didn't work.
     
  6. SamClemensMT

    SamClemensMT Well-Known Member

    Joined:
    Oct 2014
    Posts:
    167
    Likes Received:
    0
    Everyone knows that with the current congress none of those changes will be implemented. However, something has to be done about the shrinking middle class, and the expanding wealth gap. It would be wise to fix the problem before it gets out of hand. The idea of using taxes to fund free community college degrees for anyone with the drive to do better is a noble one.
     
  7. SamClemensMT

    SamClemensMT Well-Known Member

    Joined:
    Oct 2014
    Posts:
    167
    Likes Received:
    0
    Truth is president Obama will be out of office by time any of this actually gets addressed. This is setting the stage for the next presidential election. These will be issues in the upcoming campaign. The most important thing we can wish for is an economy which provides opportunities for everyone who is willing to work for them. The government is not Robin Hood. There are plenty of ways that our taxes are recycled back into the economy to benefit big and small businesses. When taxes are spent to improve the lives of the people we all benefit in one way or another.
     
  8. gmckee1985

    gmckee1985 Senior Investor

    Joined:
    Sep 2014
    Posts:
    548
    Likes Received:
    2
    President Obama has proposed tax increases in each of his state of the union addresses. These tax increases are nothing more than pandering to the far left base of the Democratic Party. With a conservative Congress no in place, he knows that these tax increases are not going to go anywhere. And that's a good thing for the economy. It seems to be picking up steam, and as long as the government stays out of the way I look for that to continue.
     
  9. JR Ewing

    JR Ewing Super Moderator Staff Member

    Joined:
    Feb 2014
    Posts:
    4,950
    Likes Received:
    39
    No surprise here. :rolleyes:
     
  10. My401K

    My401K Well-Known Member

    Joined:
    Dec 2014
    Posts:
    221
    Likes Received:
    3
    Really? And how do you think this will sit with all the folks up to their eyeballs in student loan debt for their education- for jobs they can't even get? I think this is a crock if I ever heard of one. It makes the value of a degree that much less. If anything I would have preferred the president and chief to address going after some of these for profit universities that are churning out useless degrees in record amounts.

    I do not think for one moment that the government will give anyone anything like that for free. I would rather see those tax dollars go back to things like libraries and cultural programs. I was shocked today when I was told that kids in our schools are not taught basics like keyboarding and entry computer usage. Not even 6 years ago when my kid was in school this was mandatory. No wonder kids are getting dumber, no one can decide what is valuable education wise.
     

Share This Page