Bwahahaha...we're going to take your money...

[TheSarge]

What we need to watch out for...especially the small busines owner...of whom Barakstar! is claiming he doesn't want to hurt...is all of the increases in their Medicare/Medicaid tax payment increases...their payroll tax increase and all of the other employer taxes even small businesses have to pay that will go up behind the scenes...while Brock is out front trumpeting his giving 95% of the people tax cuts.

[franksolich]

Too many of them are too young or too stupid to remember what happened the last time this was tried.

Correction, sir, remember the demographics of Skins's island.

Somewhere between 60-67-75% of the primitives are old hippies, putting them perilously close, if not already into, their 7th decade of life.

[Chris_]

Precisely, that is one of the key fallacies of the Obama tax plan.  It relies on taking money from the top two brackets of individual taxpayers, and corporations, to fund his giveaways.  With the individuals, there are various ways for them to avoid realizing gain or just plain hiding it.  For the corporations, it is simply a cost issue that will either be passes along, cause receipts to be allocated differently to avoid realizing profits, or they will just off-shore or out-source to off-shore companies.  Obama's plan relies on the pool from which he takes remaining the same size or growing larger, which is simply not going to happen, and he will either have to abandon it entirely or have a much broader tax increase than he is advertising to fund it. 

If the cost of sheltering becomes less than the tax cost (opportunity cost) then sheltered it shall be and tax revenue will go down. 

You can't stop the invisible hand of capitalism.

[Chris_]

Correction, sir, remember the demographics of Skins's island.

Somewhere between 60-67-75% of the primitives are old hippies, putting them perilously close, if not already into, their 7th decade of life.

So that leaves "too stupid" -- which pretty much hits the mark.

[ScubaGuy]

Precisely, that is one of the key fallacies of the Obama tax plan.  It relies on taking money from the top two brackets of individual taxpayers, and corporations, to fund his giveaways.  With the individuals, there are various ways for them to avoid realizing gain or just plain hiding it.  For the corporations, it is simply a cost issue that will either be passes along, cause receipts to be allocated differently to avoid realizing profits, or they will just off-shore or out-source to off-shore companies.  Obama's plan relies on the pool from which he takes remaining the same size or growing larger, which is simply not going to happen, and he will either have to abandon it entirely or have a much broader tax increase than he is advertising to fund it. 

That's the part that they just don't understand.  

I happen to be a small business that will probably go bust under the Obama plan.  100% of my income is a result of someone with enough cash to invest in smaller companies which then utilize my services.

Yeah,  I'll get the tax cut since I net less than 250K but I'll be paying taxes on zero income.

[Toastedturningtidelegs]

I wonder what these idiots would think of me?

The project I spent the better part of three years on went belly up.  I was informed Friday that I'm out of a job starting mid-November until some new projects come in.  Oh, and they aren't sure when that is.  I took this weekend, got myself in order dusted off my resume and hit the ground running. 

My main problem today?  There were so many oppurtunities available that I had trouble finding a starting place.  In fact, one company has already said they are preparing an offer sheet for me. 

I guess I just don't have it in me to whine like a DUmmie.

Hey! What the hell are you doing running around with a marketable skill! You will not fit in well with The Messiahs New America!

[DumbAss Tanker]

That's the part that they just don't understand.  

I happen to be a small business that will probably go bust under the Obama plan.  100% of my income is a result of someone with enough cash to invest in smaller companies which then utilize my services.

Yeah,  I'll get the tax cut since I net less than 250K but I'll be paying taxes on zero income.

There is a perfectly clear example of what will happen under this so-called plan, which the Press has been studiously ignoring, from the early Clinton years - BJ's 10% 'Luxury Tax' on yachts.  It didn't raise ANY new revenue, all it did was encourage everyone who might have bought such a vessel to put it off or buy other big ticket items, and bankrupted or laid off lots of boatbuilders and allied trades in the Southeast, which resulted in a net DECREASE in tax revenue since it put a bunch of income tax payers out of work.

[franksolich]

There is a perfectly clear example of what will happen under this so-called plan, which the Press has been studiously ignoring, from the early Clinton years - BJ's 10% 'Luxury Tax' on yachts.  It didn't raise ANY new revenue, all it did was encourage everyone who might have bought such a vessel to put it off or buy other big ticket items, and bankrupted or laid off lots of boatbuilders and allied trades in the Southeast, which resulted in a net DECREASE in tax revenue since it put a bunch of income tax payers out of work.

If I recall correctly, the yacht tax was imposed, forcibly, upon George Bush in 1991 or 1992, Vast Teddy leading the charge for taxes on the "rich" (other than himself, of course).

And then some time after the Impeached One took office, the tax was repealed because it affected lots and lots of jobs in Massachusetts--Vast Teddy again leading the charge.

This was, like, about 15 years ago, but I still remember it as one of the most cynical things the bloated beached whale ever did.

[DumbAss Tanker]

If I recall correctly, the yacht tax was imposed, forcibly, upon George Bush in 1991 or 1992, Vast Teddy leading the charge for taxes on the "rich" (other than himself, of course).

And then some time after the Impeached One took office, the tax was repealed because it affected lots and lots of jobs in Massachusetts--Vast Teddy again leading the charge.

This was, like, about 15 years ago, but I still remember it as one of the most cynical things the bloated beached whale ever did.

Frank, you're probably right, I remember it was from the early 90s so perhaps it was foisted on the too-accommodating Bush I by the Democrat-controlled Congress; the economic point about the unintended consequences of "Kill the rich" taxation schemes still is completely on point, however.

[Peter3_1]

With the Yacht tax what happened is that the custom Yacht Builders in New England and Maine went out of business. Yes, a nice industry that paid taxes and employed a few thousand vanished, leaving unemployment (after 300+years of shipbuilding)  and poverty in its' place.

Oh,the  ultra rich still bought the big multimillion dollar yachts, made in Hong Kong, Japan , and other nations less hostile to the profit motive.

It is called "capital flight" and it leads to "brain drain" , refer to post war Britian to reaD WHAT HAPPENS WHEN the Obama model government is in charge. Remember that the old CCCP's employes/workers had a sayine "We pretend to work, they pretend to pay us."

Let's not let it get there.