Should Obama be taxed as the "rich class" he attacks or did he give himself immunity?
Topic: Should Obama be taxed as the "rich class" he attacks or did he give himself immunity?
June 16, 2019 / By Britta Question:
Obama received nearly $2.5 million in book royalties last year for his two best-selling works — "Dreams From My Father," which was written before he was elected to the Senate from Illinois, and "The Audacity of Hope."
Obama filed a financial disclosure report this week covering January through Nov. 16, 2008, when he left the Senate. It shows that he and his wife, Michelle, have $1.3 million to $5.7 million in assets, which does not include their Chicago home. In addition, they have up to $550,000 in college savings plans for their two daughters.
The Obamas' holdings include $1 million to $5 million in Treasury bills purchased in October. They sold $500,000 to $1 million in Treasury notes last April, according to the report.
Wow so Obama should re-distribute HIS wealth instead of whining about others making so much money.
Best Answers: Should Obama be taxed as the "rich class" he attacks or did he give himself immunity?
Alis | 3 days ago
Obama will probably pay his taxes, but he's sent a clear message to the other politicians that they don't have to pay theirs, because of his appointment of Geithner the tax-dodger and others to his administration.
Obama's really a piece of work; look at his promises to end pork and earmarks, and then the hypocrite turns around and signs the biggest pork-laden bills to ever come out of Congress.
Obama's just another politician who will say anything to get elected, and then it's business as usual.
The cronies and special interests of the politicians are raking the loot, more than ever.
OBAMA: Change we can grieve in.
👍 214 | 👎 3
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Originally Answered: Will Democrats be smart enough to recognize they are being taxed when Obama's Cap & Trade scheme starts?
The educated already know, they just don't care, best I can figure is that they are ok with doing charity work thru the gov't or that they will find ways around having to pay...
The uneducated, poor and/or minorities won't get it until it happens...
They'll get it when all the prices of EVERYTHING goes up.
Yep, they'll pass tax hikes directly to the rest of us, through higher prices...they're not charities, they won't eat them alone...that goes for all small and big business who will have their taxes hiked...they will all raise their prices, we will ALL pay.
Ummm.... So let me get this straight... It's wrong to earn money? Excuse me, this is still America and capitalism regins...
Let's get this straight... If you wrote a book and earned 2.5 million in royalties, you would share your wealth as you are suggesting Mr. Obama should? I don't think so...
Mr. Obama has stated repeatedly that people earning over 200,000 annually should bear a greater tax burder. That includes him. So, where are you getting the idea that Mr. Obama is making rules to affect others and not himself? Seems you've been under that other guys administration for too long...
Time to open the window, and get some fresh air... breathe!
👍 90 | 👎 -4
The president's assets go into a blind trust when he takes office. He doesn't even know what his investments are at this point. And, yes, he is subject to the standard tax policies.
👍 88 | 👎 -11
The fact that he has so much money and in listening to his speeches about distribution of wealth you have to almost laugh at the obnoxious noise of it all. Obama and especially Michelle pointed fingers all during the campaign practically snarling - like being wealthy was a mortal sin. However, not one word was ever asked of him as to why he doesn't consider himself to be one of them. Personally, I think he and his wife have deluded themselves into believing that they are different and they don't have to include themselves in the same categories. He will have ways limiting the amount of taxes he pays. I have no doubt. After finding out about a few of his appointees - he obviously doesn't seem to think tax evasion is a big deal.
👍 86 | 👎 -18
Obama is paying his taxes on the income just like anyone else with the same income. What makes you think he's not?
It almost seems like you resent him merely for having the wealth in the first place. That's a pretty strange attitude for a fiscal conservative and defender of capitalism.
👍 84 | 👎 -25
Originally Answered: Do only rich people (or near rich people) complain about Obama's tax plan?
No would be the short answer. It'll take me a minute to type the long one.
For one, Obama's tax plan isn't feasible; meaning it doesn't actually work, and I don't think he ever intended it to. He's just saying whatever he thinks needs to be said to get elected.
You see Obama's annual budget proposal is about $220 Billion dollars MORE than what Bush is currently spending. By contrast, McCain's is about 7 Billion more. Now in my mind we should be cutting spending significantly so we can balance our budget, but at least McCain is not spending significantly more.
If Obama wants to spend more than 200 Billion more, AND cut taxes on most Americans AND not go bankrupt, that simply doesn't add up.
Even if Obama did manage a small tax cut on the middle class, if everyone else's taxes go up, and business taxes go up, the end result will still be less money in your pocket. Business ALWAYS passes the cost of doing business along to the consumer; always have, always will. If they are paying through the nose to get you a small cut, you in turn will pay more to buy what they are selling. Plus, if the taxes are too high, many companies will just opt to move overseas, which will just raise unemployment.
Just for the record, I am very middle class, grew up poor, and probably will never be rich. I just don't like Socialism, nor do I like politicians like Obama who are either clueless or are obviously just lying to the public.
To my woefully ignorant friends "Obama's Girl" and "bittermeds" (at least your name is probably accurate) who answered above and made the statement about people paying their fair share. I guess you don't actually research before you speak. If you did, you would realize that:
1. The top 1 percent of taxpayers paid 33.9 percent of all individual income taxes
2. Taxpayers who rank in the top 50 percent of taxpayers by income pay virtually all individual income taxes.
3. Bush's tax cuts have shifted a larger share of the individual income taxes paid to higher income taxpayers.
4. The share of taxes paid by the bottom 50 percent of taxpayers is less than 5%
To my woefully misinformed friend Jim, who answered on page two. You too should do your homework before you speak (or type). Taxes for middle class were actually slightly higher under Clinton than Bush, and under Bush the wealthy actually paid a bit more than they did under Clinton.