Obama Declares War on Investors, Entrepreneurs, Businesses, And More

[manning]

Just an FYI:

The Panic of 1907 did not resolve itself.
JP Morgan working together with the Secretary of the Treasury organized some bank executives and the U.S. Treasury to transfer money to troubled banks and buy stocks.



Link to article:

http://www.freerepublic.com/focus/f-bloggers/2152266/posts

If you notice it was with Mogan's funds.

 

[manning]

[QUOTE="Got Disney";30559717]DH sells tools and equipment all over the US and Canada...he is an independent contractor and also sells mostly to the military. He has decided that anything over $250,000 is no longer worth his time due to the increase he will have to pay. There for he will reach a limit and stop. We payed just shy of $70,000 in Tax's this year. Under Obama we are looking at a lot more.

[/QUOTE]

That was my dad's attitude. He could have worked more overtime than he did to make a lot more money saying "why should I be working for the government"

That was back in the early '50s.

 

[manning]

a projected surplus.

Let's quit borrowing from Social Security and see what the deficit really is.

 

[minnie61650]

If you notice it was with Mogan's funds.

Does anyone have a trillion dollars to back the banks up?
Anyone?
The govenment could use it right about now.

Gee where is JP Morgan now?

Oh yeah...I almost forgot it was the JP Morgan company that thought up the "evil" idea of the Credit Default Swaps back in 1997 that started this economic mess we are in now!

Oh well, I guess we can't count on JP Morgan this time around.

 

[HakunaMatata2]

The 'rich' will not be bailing out Obama's spending plans. No matter what happens, Obama's bills will be paid for out of the pockets of the 'little guy'. People in the $250,000 and over group often have more flexiblility and control of their income. Some will cut back income to fall under the tax guidelines and other will simply pass on the extra costs to those consumers on the bottom end. Just the additional taxes on heating oil, gasoline, natural gas and electricity with eat away more money from lower income folks than Obama will be 'giving' them.

 

[TLSnell1981]

The 'rich' will not be bailing out Obama's spending plans. No matter what happens, Obama's bills will be paid for out of the pockets of the 'little guy'. People in the $250,000 and over group often have more flexiblility and control of their income. Some will cut back income to fall under the tax guidelines and other will simply pass on the extra costs to those consumers on the bottom end. Just the additional taxes on heating oil, gasoline, natural gas and electricity with eat away more money from lower income folks than Obama will be 'giving' them.

Do you think, the Obama administration realizes this? Will they blame the "rich" when things continue to go badly? Is this why they compare all business owners to the greedy irresponsible ones? It's good for class warfare? Does this mean we'll get more "stimulus"?

 

[HakunaMatata2]

Do you think, the Obama administration realizes this? Will they blame the "rich" when things continue to go badly? Is this why they compare all business owners to the greedy irresponsible ones? It's good for class warfare? Does this mean we'll get more "stimulus"?

It means that once the golden goose is killed, there are no more golden eggs.

 

[Davey48]

It means that once the golden goose is killed, there are no more golden eggs.

The Golden Goose( Capitalism) is Dead!!

Obama hacked off his head and took all the eggs out of the hen house.

 

[TLSnell1981]

It means that once the golden goose is killed, there are no more golden eggs.

The Golden Goose( Capitalism) is Dead!!

Obama hacked off his head and took all the eggs out of the hen house.

So, this explains Hillary's trip to China.

 

[sbell111]

[QUOTE="Got Disney";30559717]DH sells tools and equipment all over the US and Canada...he is an independent contractor and also sells mostly to the military. He has decided that anything over $250,000 is no longer worth his time due to the increase he will have to pay.[/QUOTE]Personally, I could care less whether your husband sits on the couch or goes out and makes money, but I have to believe that no one who read your post found it to be mathematically sound. Imagine giving up that extra dollar because three additional cents are taken out in taxes.

This logic also fails the business test, since if he isn't selling his widgits to someone, they will be bought elsewhere, thereby endangering his future business.

Still, you guys do whatever you want.

 

[TLSnell1981]

Personally, I could care less whether your husband sits on the couch or goes out and makes money, but I have to believe that no one who read your post found it to be mathematically sound. Imagine giving up that extra dollar because three additional cents are taken out in taxes.

This logic also fails the business test, since if he isn't selling his widgits to someone, they will be bought elsewhere, thereby endangering his future business.

Still, you guys do whatever you want.

Did you consider the loss of deductions? If one looses, for example, $40k in deductions? The increase, on that alone, would be around $16k. The tax rates increase from 33% to 36%. The level will then change at $250K. The increase will be from 35% to 39.6%. A bit more that 3%....

 

[Laugh O. Grams]

Personally, I could care less whether your husband sits on the couch or goes out and makes money, but I have to believe that no one who read your post found it to be mathematically sound. Imagine giving up that extra dollar because three additional cents are taken out in taxes.

This logic also fails the business test, since if he isn't selling his widgits to someone, they will be bought elsewhere, thereby endangering his future business.

Still, you guys do whatever you want.

Can you imagine a vendor telling his #1 client to find another supplier because he doesn't want to pay a 3-4% increase on all income over $250K? Good luck doing business with that customer again. Plain and simple, some people just don't have what it takes to become truly wealthy...

 

[TLSnell1981]

Can you imagine a vendor telling his #1 client to find another supplier because he doesn't want to pay a 3-4% increase on all income over $250K? Good luck doing business with that customer again. Plain and simple, some people just don't have what it takes to become truly wealthy...

His suppliers have already informed him that when Obamas tax hikes take effect there prices will be going up in order to make up for the difference so they can keep on there employees...and to make up for the hikes in prices from the companies they buy from....and so on and so on and so on...

His military accounts...and he has many many have told him that there budget has been cut from Obama so they will not have the budget that they usually have to order.

Did anyone read the entire post? There was more than one factor in making their decision. Does anyone really believe the concern is over a little 3-4% ? That's really oversimplifying the situation .

 

[soupy11]

Can you imagine a vendor telling his #1 client to find another supplier because he doesn't want to pay a 3-4% increase on all income over $250K? Good luck doing business with that customer again. Plain and simple, some people just don't have what it takes to become truly wealthy...

It seems really odd to me as well. Even if it is 10%.

 

[Laugh O. Grams]

Did anyone read the entire post? There was more than one factor in making their decision. Does anyone really believe the concern is over a little 3-4% ? That's really oversimplifying the situation .

Oversimplification? Ummm...read it again. Neither of your examples have a thing to do with closing up shop at $250K because of an increase on taxable income.

 

[Laugh O. Grams]

It seems really odd to me as well. Even if it is 10%.

Some people want to believe anything simply because it somehow validates their opinions. It's odd only because the idea defies common sense.

 

[Charade]

Did you consider the loss of deductions? If one looses, for example, $40k in deductions? The increase, on that alone, would be around $16k. The tax rates increase from 33% to 36%. The level will then change at $250K. The increase will be from 35% to 39.6%. A bit more that 3%....

Worth repeating. Just in case some of the "poo poo"ers missed it.

 

[soupy11]

Worth repeating. Just in case some of the "poo poo"ers missed it.

whats a poo pooer? LOL.

 

[TLSnell1981]

Oversimplification? Ummm...read it again. Neither of your examples have a thing to do with closing up shop at $250K because of an increase on taxable income .

This was ONE factor in their decision. You don't understand? Their costs are going up, their biggest client won't be buying.....throw in the tax increase..Is it worth the time, capital risked, etc.?

Many companies will be eliminating jobs, reducing benefits, raising prices, etc. They have to make the money up somewhere.

And, the charities... who do not rely on government funding? Many good programs will be gone...bye bye.

 

[Chuck S]

And, the charities... who do not rely on government funding? Many good programs will be gone...bye bye.

Don't most charities get some form of government grants and private foundation funding/grants. While that certainly doesn't negate the need for private cash donations, it doesn't mean that this loss of write-off donations will spell certain doom.