Article

2015-01-18 Government

Champ's State of the Union speech to include $320B tax hike proposal

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Posted by Besoeker 2015-01-18 03:44|| || Front Page|| [7 views ] Top

#1 Cause it worked so well at the state level and in France. Pathetic regurgitation of class warfare card, over used like the race card. Orthodoxy over reality, works so well in Venezuela these days. Maybe if you proposed, say, a three tier flat tax with the only deduction for (future tax payers) children, maybe you can get the same effect of the 'rich' paying. Where's the graft and political theater in that?

Posted by Procopius2k 2015-01-18 10:00|| 2015-01-18 10:00|| Front Page Top

#2 ...mostly by raising the rate on capital gains

Which he's done already; this is the Dem. Pavlov reaction to raising taxes.

...and closing tax loopholes for wealthier families.

"Loopholes" = tax laws passed by Congress. He doesn't even have to do that. Just keep the AMT where it is, lower the threshhold for the NIIT and a few other such tweaks, and there you go.

Six years of the deadest economy I can recall since the early '70's, and he's proposing more. Why not just add in ARRA II and just go completely over the top?

Posted by Raj 2015-01-18 10:27|| 2015-01-18 10:27|| Front Page Top

#3 Ditto Raj. I can remember the day when banks actually COMPETED for your deposits and accounts. No longer, they're getting all the cheap money they need pushed to them by the giverment.

Giverment now owns the banks, the hospitals, the doctors, the trains, Chrysler, GM, and the schools.

Posted by Besoeker 2015-01-18 11:39|| 2015-01-18 11:39|| Front Page Top

#4 The 30 Year U.S. Treasury bond yield hitting 2.35% means no-one's convinced the economy's going anywhere.

Posted by Bright Pebbles 2015-01-18 12:07|| 2015-01-18 12:07|| Front Page Top

#5 Even if the proposal goes through, every time taxes are raised on the "Wealthy", enough loopholes are put in to keep congress and their holders from paying too much (since they are all wealthy) and the lion's share of the taxes hit the upper middle class and medium-small businesses.

Exactly according to progressive plans.

Posted by DarthVader 2015-01-18 13:33|| 2015-01-18 13:33|| Front Page Top

#6 Remember when the Clinton Administration proposed a tax the rich scheme. Then when the details were known it turned out that a taxable income of $150,000 made you rich and oh by the way, if you have a mortgage, you were expected to pay a tax on the estimated rental value of the home.

Posted by Bill Clinton 2015-01-18 14:16|| 2015-01-18 14:16|| Front Page Top

#7 First abolish the Dept. of Education and fire the bunny inspectors - no pensions for them either. After that we can talk about taxes.

Posted by Anguper Hupomosing9418 2015-01-18 16:25|| 2015-01-18 16:25|| Front Page Top

Posted by Blinky Shert3914 2015-01-18 16:58|| 2015-01-18 16:58|| Front Page Top

#9 Raj knows too much, I'd watch him.

Posted by Shipman 2015-01-18 17:06|| 2015-01-18 17:06|| Front Page Top

#10 Richard Fernandez (Belmont Club) writes about this being President Obama's "Picketty moment" here. A useful way to think about it (Mr. Fernandez properly credits the originator), especially when one remembers that France's Hollande just gave up on his version of the idea.

Posted by trailing wife 2015-01-18 20:44|| 2015-01-18 20:44|| Front Page Top

#11 I don't suppose the Trunks will deliver a standing boo when he proposes this nonsense.

It all sounds fine until he defines what rich is and every time the Dems do it, it includes a lot of the middle class.

Posted by Bill Clinton 2015-01-18 22:11|| 2015-01-18 22:11|| Front Page Top

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