Obama: "This is not class warfare -- It's math"

[nathanm]

I think it's hilarious that so many people think that the one engaging in class warfare is the one advocating that we ensure high income earners pay tax rates as similar as reasonably possible to those the middle class pays. No, it surely can't be the folks insisting they pay a lower percentage of their income in tax engaging in class warfare. That wouldn't make logical sense!

[Breadburner]

[Teatownclown]

Unfortunately, Obama isn't proposing such a simplification of the tax code where a billionaire's rate would go to 25% and your's would drop to 25%.  The earlier point I was trying to make is I don't find the tax increase to be meaningful.  Using GK as an example, how much does he really need to pay himself in dividends?  He can just avoid taxes by funneling income through his charitable foundation (not a bad use of it until it winds up in bad investments like Solyndra), so therefore the government collects about the same net amount in tax revenue from GK.

-or-

He could make capital investments in his business empire rather than taking dividends.  That's where you could argue that higher tax rates amongst the rich could help the economy if instead of letting the government tax more of their dividend income, they simply decide to be paid less dividends from their business and plow that money back into the business which might create more jobs either there or elsewhere in the economy.

I know TTC mentioned some time back that when the marginal rate was astronomical, there were many loopholes which encouraged the wealthy to ease their tax burden by hiring and re-investing in the business...am I right TTC or did I take something out of context?

I think you might have me confused with FOTD....

I agree with Sparticus Cannon Fodder. Raising the rates is no burden on those who have gains which can be offset with loss carry forwards.

The politicization of the Nation is ruining us....Peyton Manning went to Europe last week for stem cell treatment for his back. We're falling behind in so many fields due to the right wing freak outs...

[Teatownclown]

I don't think President Obama is engaging in "Class Warfare."   That would mean he's pitting one class against another in order to benefit from the fog of war.

He's waging a very direct battle though. . .against:

Production of wealth
Production of energy
Private production of goods & services
Innovation as a means of production of wealth
Investment as a means of production of wealth


Basically, when you boil it down, production of any kind is the target.  He is operating on the false premise that there is a finite amount of wealth that can simply be shifted around without loss or gain. He thinks that if you deplete the millionaire, you fortify the poor.  Unfortunatly wealth is only created by those willing to innovate and take risks.  Destroy those people, or their incentive to innovate, and you deplete the quality of life for everyone.  The ship builder will not benefit from the destruction of the ship owner.

Freak out example or channeling Greedoh...

[heironymouspasparagus]

He could make capital investments in his business empire rather than taking dividends.  That's where you could argue that higher tax rates amongst the rich could help the economy if instead of letting the government tax more of their dividend income, they simply decide to be paid less dividends from their business and plow that money back into the business which might create more jobs either there or elsewhere in the economy.

That would lead to things like people investing in the future of their companies, leading to increased jobs and economic activity.  Wow!  You finally came around to my side!!

It means some of that $2 trillion in cash the banks are sitting on RIGHT NOW would actually get moved around the economy, creating activity as it does.  That is the whole point exactly.

And no, the same people did not "shut down" and quit working their systems when the capital gains was 20% either.  Would you be so foolish??  (I know the answer...it is no.)

And that whole BS thing about class warfare...well, this would be one very small step in reducing the real class warfare in this country.  The class warfare that has been waged for decades against the lower 99% of income.  Which, with possible exception of guido, likely applies to 99% of us here.

[Conan71]

I think you might have me confused with FOTD....

I dunno.  Multiple personality disorders isn't my primary interest in life, dude.

[Teatownclown]

I dunno.  Multiple personality disorders isn't my primary interest in life, dude.

The Republicans have no class. Class Warfare? In a classless society? Surely you jest.
Here Conman:It's Not 'Class Warfare' When the Rich Do It
http://www.thenation.com/blog/163471/its-not-class-warfare-when-rich-do-it

"As a whole, the Republican Party has enthusiastically endorsed plans to slash social and anti-poverty spending to the bone, cut taxes on rich people and corporations, and crush organized workers. And this is to say nothing of right-wing attacks on the poor and working-class as "moochers" who don't deserve the (paltry) benefits they receive. Given the extent to which they have monopolized attacks on the non-rich, Paul Ryan – and every other Republican – should be laughed off of the stage whenever they accuse Democrats of "class warfare"

http://www.flickr.com/photos/davedonohue/132443565/

Multiple monikers? Perhaps...but the same libtard progressive personality. 

[Teatownclown]

http://www.scholarsandrogues.com/2011/09/23/the-tragic-toll-of-obamas-class-warfare/

[Ed W]

Given the latest crisis over funding government operations, an ad hoc coalition may form in order to enact legislation that's palatable to both the House and Senate.  Speaker Boehner doesn't have the votes to ram the Republican agenda through the House, and with the Tea Party ideologues opposing him, his only tactic is to find common cause with the Democrats.  That means he'll have to produce bills they'll vote for, and presumably, the Senate will OK also.