The war on the wealthy, is just a full of shit as the people spewing it. Slate writer Daniel Gross lays it out in typical factual form
Obama’s proposals don’t mean the government would steal every penny you make above the $250,000 threshold, or that making more than $250,000 would somehow subject all of your income to higher taxes. Rather, you’d pay 36 cents to the government in income taxes on every dollar over the threshold, rather than 33 cents.
well, lookie, lookie…on a thousand dollars that’s….$30.
OH
MY
GOD!
COMMUNISM!
Distributing weatlh. Sound the Dive Bell…Battlestations! Batten the Hatches!
Do you know how much stuff you’d have to buy at a charity auction to offset that kind of income? Boy, those silent auctions where you can buy cases of wine, trips to the beach, gift certificates to dinner would become so much more wildly popular!
Second, this return to 2001’s tax rates was actually part of the Bush tax plan. The Republicans who controlled the White House and the Republicans who controlled the Congress earlier this decade decreed that all the tax cuts they passed would sunset in 2010. They put in this sunset provision to hide the long-term fiscal costs of the cuts. The Bush team and congressional supporters had seven years to manage fiscal affairs in such a way that they would be able to extend the tax cuts in 2010. But they screwed it up. Instead of controlling spending and aligning tax revenues with outlays, the Bush administration and its congressional allies ramped up spending massively—on two wars, on a prescription drug benefit for Medicare, on earmarks, etc.
WAIT! WTF!????? These were going to expire anyway? Hu? Wha? You mean? But that would mean? And? If? But? How?
But Obama ruined the stock market in 40 days!