by TONI H - 11/15/12 4:32 AM
In Reply to: Re: stuff by Kees_B
demonizing that minority of millionaires and saying that not only taking away their deductions AND raising their tax rate (which amounts to closer to a 50% tax rate instead of the 39% BO campaigned on) will actually reduce the deficit is ok to do, even knowing that not only will it not make a dent in the deficit but it will only give the Dems more money to 'invest/spend' because every person with a brain (and not all of those people who voted has one) knows that Dems don't cut spending and only see 'new found money' as more to spend. And on top of all of that, millionaires aren't even part of the tax increase equation anymore because, again, anybody with a brain knows that people earning $250K aren't millionaires by any stretch of the imagination. So increasing tax rates and taking away deductions from anybody earning $250K to a 50% tax rate is even ok because when you don't have a lot of millionaires anymore to take from you lower the base substantially to collect even more revenue and hope people with a brain don't figure out that you aren't talking about millionaires anymore.
And then you add in the additional tax hike on capital gains (houses sold or investments like stock portfolios) and dividends (savings accounts, insurance policies, etc) you are hitting the middle class even harder than Dems will admit to. The very people who lost their shirts in 2008 are again going to take a massive hit just as they are perhaps beginning to rebuild.
And the additional tax increase for the death tax to 55% on estates that have been in families for years.......such as the family restaurant or bakery or dry cleaners, etc.......forcing the next generation to reduce their payroll by laying people off in order to pay down that new additional tax or even close their doors for good or try to find a bank that will let them take out a new mortgage on that business (good luck with that one).
And I guarantee you that not one red cent of those new revenues will find its way to the annual deficit.....it will be used by Dems as new found money and spent on new stuff and we'll never see daylight, things will stay the same as it is now......slow to no recovery at all, and higher unemployment, and more people getting foodstamps and other stuff.
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