Feeds:
Posts
Comments

Posts Tagged ‘Wealthy’


Wonder what you would find if you frisked the Democrats’ claim that they can solve the country’s fiscal problems by raising taxes on the so-called “rich”?

Answer: There’s not enough of those “rich people” to raise taxes on. 

Props to the Wall Street Journal and Power Line for reporting this story:

This chart from the Wall Street Journal tells you pretty much all you need to know about the credibility of the Democrats’ claim that they can solve the country’s fiscal problems by raising taxes on “the rich.” The chart, based on 2008 IRS data, shows how much total income was reported by Americans in each income range.

Click to enlarge.

Notice where all the money comes from.

The problem with rich people (or, more properly high income earners) is that there aren’t enough of them. Upper-income taxpayers are already paying around double their fair (pro rata) share of federal income taxes on the average, and there simply aren’t enough dollars at the high end to pay for the Democrats’ spending spree, even if the Dems try to steal them all. The only way to balance the budget through tax increases is by going where most of the money is–the $50,000 to $500,000 adjusted gross income range.

In the end, if President Obama wants to solve our fiscal problems by increasing taxes, he would have to go after the middle-class. Good luck proposing that plan to the American people.

Click to become of a fan of Frisk A Liberal on Facebook!

Read Full Post »

Wonder what you would find if you frisked one of the “evil” companies that falls within the top tax brackets that President Obama and the Democrats are trying desperately to raise taxes on?

Answer: A company who is not overwhelmed with wealthy executives smoking cigars, sipping on cocktails, feet resting on their desks, and laughing at the rest of middle-class America.

As you can tell, I was definitely exaggerating the descriptions of the employees who work hard at Leland (the company in the video). However, President Obama and his loyal Democrats are trying desperately to portray that image of the so-called “wealthy” Americans who make more than $250,000 a year. Unfortunately, the Democrats do not understand (or chose not to understand) that a majority of small businesses make more than $250,000 a year and don’t earn enough for it to make financial sense to file their taxes in the corporate bracket. With that said, this is where Steven Crowder’s latest video comes in to help make sense of the issue.

After watching the video, you will notice that if a company ends up entering the top tax brackets with an income of more than $250,000 a year they still have to pay their employees from those earnings before taking home their own cut. Therefore, if the federal government decides not to extend the Bush tax cuts for ALL  tax brackets, it is likely that employers and entrepreneurs would be hit extremely hard.

Overall, Steven Crowder’s latest video was informative and entertaining. I sense the attacks from the Left will include the rhetoric such as “This is only one company! Therefore, it proves absolutely nothing.” Yeah, if you are an individual thinking that, I recommend you pull your head out of that dark place where the sun does not shine because the GOP tidal wave is coming in less than two weeks! …Hold on tight!

Click to become of a fan of Frisk A Liberal on Facebook!

Read Full Post »