Comments on: Dear Barack Obama: Your Real Marginal Tax Rate for Joe’s Dreams = 93%

By: Joshua Rosett

Joshua Rosett — Thu, 16 Jul 2009 07:27:04 +0000

In retrospect, 8 and 1/2 months later, my estimates were far too conservative. As for J. Williams above, it is evident that all of his income will soon be sucked up by the vacuum he references.

By: J. Williams

J. Williams — Thu, 06 Nov 2008 12:43:51 +0000

Simple.

“So what marginal top tax rate would allow you to pay for this transfer? Assuming that those earning over $250,000 are happy to continue working as hard as they do even if you greatly increase the taxes on their earnings over $250,000, the top rate would have to be approximately 58% higher than the 35% rate to pay for the $80 billion transfer to the lower 95% of the distribution.”

Your argument rests on the premise that he will have to raise the marginal rate higher than promised, to make up for the 80 billion dollars he would like to “transfer.”

You’re forgetting that he can always cut programs and rewrite/eliminate entitlements as he pleases (assuming Congress approves *any* of this.)

You’re also forgetting he plans on having us out of Iraq in some 16 months after entering office. The war costs over $100 BILLION a year. Even if he takes two years to get us out of Iraq, and or whatever reason he still needs to spend HALF of that over the last two years of his term, thats still $100 billion, with $20 billion in change.

Talk about making an argument in a vacuum.

By: Steynian 279 « Free Canuckistan!

Steynian 279 « Free Canuckistan! — Wed, 05 Nov 2008 00:35:26 +0000

[...] ROSETT: God-Damn-America Radicalism for the Whole Family!; and “Dear Barack Obama: Your Real Marginal Tax Rate for Joe’s Dreams = 93%” …. [...]

By: Homebrew

Homebrew — Tue, 04 Nov 2008 17:21:35 +0000

Yes, well, this is just as it relates to households. The caveat is that he will bring business to it’s knees with a revised corporate tax structure that will surely be used to make up any shortfall that you and I can’t pay. That and cutting spending for the military which he abhors. Then business will pass on cost increases to us till we can’t take any more and finally move out of the country. He will try and prevent that since they will control everything, including the judicial system, and our economy will go down the tubes. China and everyone else will just love that. And we thought times under Jimmy Carter were bad? A piker compared to Obama.

By: Charles R. Williams

Charles R. Williams — Mon, 03 Nov 2008 13:25:54 +0000

The other piece of the equation is the impact that Obama’s policy proposals would have on the cost of living. These are potentially huge and include 1) taxing payrolls to fund medical care, 2) increases in the minimum wage and 3) cap and trade on greenhouse emissions. Furthermore, taxing the inputs of high income people into the economy will not only reduce those inputs, it will also raise their cost, costs which we all pay. We can expect that the American standard of living will decline to the level of Western Europe.

In reality, the only way America will be able to pay for the Obama welfare state is the way the Europeans do it, a large VAT which will drive up the cost of living for everyone. The VAT seems to be the only way to fund a welfare state without killing the economy through confiscatory marginal tax rates.

By: steve

steve — Mon, 03 Nov 2008 09:53:38 +0000

Look at the bright side all you puveyors of doom and gloom. This will create an niche industry boom of people heading to low cost countries to retire. Countries like Mexico, Costa Rica, Philippines and the like will boom as Gringos move there to take advantage of low cost and high quality standard of living. We boomers will become citizens of the world and the developing world will reap significant benefits in the process.
In two years I am off to the Philippines where I will have 2 maids, a driver, nanny for my son, membership in 3 clubs, private school for junior + a 6600 sq ft home and a smaller one on the beach………all for peanuts.
Every cloud has its silver lining. If President Obama makes living in the USA fiscally unattractive there are alternatives. He will probably lower the cost of vacationing back there to visit relatives (assuming some are left)as well.

By: dm

dm — Mon, 03 Nov 2008 01:35:30 +0000

Rosalie, exactly.

But that hill is 40% less wealthy already, thanks to Barney Franks, Franklin Raines, and ACORN/Obama.

I never thought we would see another Depression, but the idiot redistributionists are on target to create one.

All it will take now is raising taxes.

By: Rosalie

Rosalie — Mon, 03 Nov 2008 00:57:51 +0000

Obama can’t go back on his promises of programs but he can change, what a lovely word, onto whom he taxes and that will be almost all of us. He will announce to the world that the tax increases is due on the failure of Bush making such a mess out of the economy. Bush will be blame for the failures of Obama for the next four years. The American people will praise the Almighty One Obama and continue to hate Bush. The drive by media will sing Amazing grace and we the people, will smile while we slide down the hill with a lot less wealth.
R

By: dm

dm — Mon, 03 Nov 2008 00:43:38 +0000

Well, it’s clear from this well thought out letter that Obama will be printing money pretty soon.

The only problem with that is that printing money will increase inflation dramatically, which in turn effecitively reduces the value of Social Security.

Good luck to any Senior who votes for Obama.

By: cfbleachers

cfbleachers — Sun, 02 Nov 2008 23:41:49 +0000

“Not all of what these people sought was strictly religious. . . . It occurred to me that Trinity, with its African themes, its emphasis on black history, [was] a redistributor of values and circulator of ideas. Only now the redistribution didn’t run in just a single direction from the schoolteacher or the physician . . . to . . . the sharecropper or the young man fresh from the South. . . . The flow of culture now ran in reverse as well, the former gang-banger, the teenage mother, had their own forms of validation—claims of greater deprivation, and hence authenticity”

Senator Obama on the value of the Trinity method of class and racial warfare ragings. A redistribution of values is the underlying value.

“I don’t want to just end the war . . . I want to end the mindset that got us into war in the first place.”

In a 2002 speech, he said the war resulted from:

“…the cynical attempt by Richard Perle and Paul Wolfowitz and other armchair, weekend warriors . . . to shove their own ideological agendas down our throats, irrespective of the costs in lives lost and in hardships borne . . . the attempt by political hacks like Karl Rove to distract us from a rise in the uninsured, a rise in the poverty rate, a drop in the median income . . . the arms merchants in our own country . . . feeding the countless wars that rage across the globe.

So, it appears that we have two main thoughts here. We need to redistribute the military, redistribute the “Zionist influence” and and redistribute our political friendships and alliances.

By kicking three papers off the plane, refusing to engage with anyone who asked a tough question and refusing to appear with them ever again, calls to action to shout down dissent and inquiry, and by using the entrenched media as shills, we are witnessing merely the “redistribution of information”.

By bankrupting producers of coal and waging warfare against nuclear and drilling advancements, we are witnessing merely the redistribution of energy to the country.

Redistribution is always patient and kind
it is never jealous
redistribution is never boastful nor conceited
it is never rude or selfish
it does not take offense neither it is resentful
redistribution takes no pleasure in other people’s sins

but delights in the truth
it is always ready to excuse, to trust, to hope and change
and to endure whatever comes

fair