Obama goes trolling again!
President Obama it seems is just trolling for responses from those on the right when he announces a plan to stick the rich with another big tax hike. It is as predictable as Pavlov’s dog drooling at the dinner bell. Yell taxes and Republicans have heart palpitations and shortness of breath. If the T word is repeated and used in relation to political gain blood pressure will spike and uncontrolled anger is likely to follow. Makes you wonder if the President just issues these statements and then sits back with a little grin on his face waiting. He may light up a Lucky Strike and crack a beer too just to savor the moment.
I mean his premise is absurd to begin with when it comes to raising taxes on millionaires for example. What is that anyway?
Having a million dollars in assets is a very weak indication of any wealth- I'll keep it simple for you but to say passive income is some how less important than earning a paycheck by working 9 to 5. Lets take for example the money you invest in retirement (an assumption that you are saving for the future) first you have to earn the dollar- then pay taxes on the dollar and then give the money to someone else to invest- now keep in mind if they lose the whole thing you get nothing in return- no tax break or write off- nope you just get to lose your money.
But if you have the courage to invest your hard earned dollar in other people and their businesses I hardly call that passive. It is in fact nerve wracking and many of us have seen our investments go up in smoke a couple different times. And yes investment income is taxed at a lower rate than ordinary income and I believe that's ok. There has to be an incentive to invest in companies to make the gamble worthwhile. Make no mistake for every Apple there are 1,000’s that don't go anywhere. Anyway I’m a millionaire based on this silly simpleton description- but I live in an old farmhouse, have only bought two new cars in my life and do my best to live within my means. I take care of my family and make sure those around me are taken care of. I could have gone to school longer and worked harder and may have made a lot more money. But I AM NOT entitled to the fruits of others labor. That is not to say the field shouldn’t be fair but lets be honest that's never gonna happen- not to the satisfaction of liberals, so I'll just keep busting my ass voting for conservatives and trusting myself and my family to look out for the things I need. I DO NOT need the government to hold my hand. The Government can provide for the common defense and build the roads- after that please leave me and mine alone. Thank you.