A BROTHER’S SUFFERINGS CLAIM A BROTHER’S PITY
“A central premise of my campaign for President was to change the tax code that was too skewed towards the wealthy at the expense of working middle class Americans. The deficit needs to be reduced in a way that’s balanced. Everyone pays their fair share”—OBAMA
Even though the republican think they jettison a core principle they raised taxes on the richest of the rich, but the deal left Obama’s favored rich alone.
There two types of wealthy in this country—“income wealthy” hit hard by this tax and the “asset wealthy” who where barely touched in this deal.
The income wealthy highly paid by someone else got hammered, to the extent that they’ll never be able to amass asset wealth. Asset wealth emerged basically unscathed (Buffet).
Buffet will not see much of a tax increase on his assets nor will Immelt.
The asset wealthy will be paying half the rate of the income wealthy pay. The Buffets, Gates, will not be touched and the hedge fund people not touched. Wall street not touched, and fundraisers. They all got off scot- free.
The newly enacted tax hikes on the wealthiest Americans actually affect them? Hardly at all.. they don’t get their income form wages and salaries. In 2006 the bottom four-fifths of US tax filers got 82% of their income form wages and salaries, a congressional research office study found.
Obama—I’m not in any way trying to target anyone, I don’t resent anyone, ever, for their wealth. Resentment and jealousy are the twin poisons of the liberal mind. I don’t ever want government used to “get even” with anybody except those who break the law. I don’t want government involved in punitive taxation.
According to the Tax Policy Center Obama’s deal means higher income taxes for 70% of Americans. Prosperity, people doing well, that’s been the root cause of all our ills.
Young people have always sought success, but it’s impossible to begin to acquire wealth without income. Obama is protection those who already have their wealth, the asset rich, his donors.
OBAMA’S RICHEST DONORS: TOP 20
NEW YORK AREA 87.1 MILLION
CALIFORNIA 16.1 MILLION
DC AREA 24.3 MILLION
MARYLAND AREA 16 MILLION
ILLINOIS 21.5 MILLION
VIRGINIA 7.4 MILLION
CONNECTICUT 12.8 MILLION