Happy daze are here again have been here all along!
Comment by SondraK, Queen of my domain — November 12, 2012 @ 7:43 am
The addiction is real.
Not all businessmen are free-market capitalists, most are opportunists.
If money comes via gov’t, then that’s where they’ll go to get it.
(see also: Willie Sutton’s “Because that’s where the money is.”)
Comment by DougM (Well, thaaat sucked!) — November 12, 2012 @ 7:58 am
Tax the wealthy, my arse. People are not wealthy because of wages and Obama wants to tax wages. Businesses pay high wages because they think that those employees will make even more money for them – we are not talking cronies here. So Obama’s plan is to tax the most productive people and small business owners.
That is just so crazy that it just might will not work.
You want to go after the wealthy paying 15% taxes like Warren Buffet, John Kerry or John Edwards? Tax dividends as ordinary income and make dividends deductibles to companies. Under the 2012 rates, a married couple would have to make $70k taxable income ( about $90k gross ) before paying more than 15% on dividends. I am guessing companies would pay higher dividend rates if they were tax deductible and might even distribute some of the money parked overseas to their shareholders.
Comment by Freddie Sykes — November 12, 2012 @ 9:07 am
“There has already been talk about how to go about grabbing the money from private 401k funds”
Yep. Replace the funds with government-backed IOUs. I heard some European countries have already done this. That’s where they got the idea.
So, if Wall street is going gangbusters, how come my savings account gets only 0.85% interest?
Comment by Fat Baxter — November 12, 2012 @ 10:09 am
Fat (9), Argentina did it a few years ago but now all that money is gone. The value of one current peso is 10,000,000,000,000 pesos of 1969.
Socialism would work if we only had more money it could loot.
Comment by Freddie Sykes — November 12, 2012 @ 10:52 am
I am expecting obama to pull an FDR and ban the ownership of gold, maybe silver. That way no one would be saved from the tsunami of inflation ahead.
Comment by TomR, armed in Texas — November 12, 2012 @ 10:59 am
It doesn’t pay to play — monopoly with the government– they pass go buy up everything and you go to jail.
Comment by geezerette — November 12, 2012 @ 11:23 am
It’s not just that they think there’s a lot of tax money available from the wealthy for the legitimate cost of government, they are envious of wealth. They truly believe that the wealthy get rich at the expense of the poor, and they want wealth confiscated. They don’t even care if any poor folks get any of it, as long as the rich don’t have it. Pure theft. Envy. Looting.
(What? Yeah … also suicide.)
Comment by DougM (Well, thaaat sucked!) — November 12, 2012 @ 2:44 pm