White House Proposes "Wealthy Tax"

President Obama is proposing a new tax rate for people making over $1m a year. The new rate is part of a larger plan which seeks to bring in $1.5 trillion in new tax revenue and is sure to meet opposition in congress. From the article: "The core of the president's plan totals just more than $2 trillion in deficit reduction over 10 years. It combines the new taxes with $580 billion in cuts to mandatory benefit programs, including $248 billion from Medicare." GOP Rep. Paul Ryan of Wisconsin said, "Class warfare may make for really good politics but it makes for rotten economics."

Comments

Anti-Rich People Rhetoric

[The O Rly Factor]

This whole "fuck rich people" movement is really starting to get on my nerves. Rich people are not the problem, it's all of the tax loopholes companies take advantage of that is the problem, why not do something about them?

Oh wait, that's right. Tax loopholes and corporate tax law are far too complicated for the average American to understand, so they need a common enemy to crowd against...cue the rich person destroyin our 'conomy...somehow.

Re:Tax planning and rich people

[DesScorp]

"Yeah, and the middle class is losing the war. We should start fighting back."

Fight back against what? People keeping their own money, instead of seeing a government bureaucrat take it from them and hand it to you, just because they made more than you?