Democrats Opt for Millionaires Tax - Instablogs
Democrats Opt for Millionaires Tax
Marco Villa , Connecticut: Jul 22 2009
Made Popular Jul 22 2009
United States :

Democrats Opt for Millionaires TaxThe Democratic can no longer claim to be the party of the common man against the party of the rich Republicans.

Not only did Obama win 52% of the vote of those earning at least $250,000; 14 of the 25 richest districts in the country are represented by Democratic Congressperson. The Democratic is increasingly taxing its own base if it intends to raise taxes on the rich.

Not surprising, even liberal hearts are not keen on paying too much taxes. And several Democratic Congressmen and women representing wealthy districts made it clear to President Obama and and their Congressional leaders that they will have a hard time going along with such high tax increases targeting solely the upper-class.

President Obama and liberal Democrats intend to pay for the president’s domestic agenda through taxing the rich. The initial plan for health care reform was that all household incomes from $350,000 to $500,000 will be face a 1% surtax that would incrementally raise to 5.4% to incomes +$1 million.

Such a proposed tax increase when combined with other increases would push the top American marginal tax rate to +50%; higher than all but three European nations. Needless to say, not even most Democrats are content to see the government take away 50% of their income and two Democrats voted against the health care bill in committee.

Fearing a intra-party rebellion after several Democrats wrote to President Obama expression their reservations about tax increases, Speaker Pelosi has offered a compromise: only those making +$500,000 will face a surtax.

This, of course, is not much of a compromise since the marginal tax rate will still be too high but will just encompass less people. Nonetheless, the moral and practical implications of such a high tax burden placed on so few a people is still present.

Maybe the Democrats will restrain themselves recognizing that their progressive tax gone to extreme is too much even for most party members, or better still maybe this dispute over funding will kill the entire health care reform package which will only ration care, reduce quality care and add trillions to nation debt.

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1 Stars
Jason
Columbus, United States
Public health care plan is nothing more than a power play by Obama and the top democrats.
1 Stars
Kent
Portland, United States
What kind of country is America that allows an African Islamic Muslim dictator of the Luo Tribe to come to the country with Indonesia passport and changing the country from successful free enterprise country with liberty for all to socialistic KGB style welfare country for the parasites of the organized labor mafia unions and the illegal immigrants while pushing America to bankruptcy and self destruction?
1 Stars
Marco Villa benaliwatch.blogspot..
Connecticut, United States
This commentator is an idiot with his ”Obama is a Muslim” comment.
1 Stars
Kent
Portland, United States
Don't you think Obama is a Muslim? All his pro Muslim acts reveal this. He is "Barack
Hussain
Obama".
1 Stars
Andy
Arlington, United States
Marco
I believe we have the responsibility to take care of the basic needs for every human and Obama's public health care plan is a step in this direction for providing cheap and good health care for all Americans. Nothing is bad in taxing the rich people for this cause.
1 Stars
Marco Villa benaliwatch.blogspot..
Connecticut, United States
There is something bad in taxing the rich, because it is not your money to take and then redistribute in accordance with your beliefs.

Yeah, you may believe in taking care of the basic needs for everyone but you have no right to demand that other people forfeit their incomes for your ideals. If you want to take care of someone, do so voluntarily and donate to charity.

Do not use the coercive power of the state to achieve your goals whatever the merits. That is immoral.

Your declaration is akin to me pointing a gun to your head and demand 1/3 of your income because I believe every neighborhood is entitled to a park and, well, you need money for that.

You have to realize that someone’s hard earned income belongs to them and is not up-for-grads every time someone has a nice idea they think will better society. Where do you draw the line until we reach the point where the state is taxing away 70% of your income? And it doesn’t matter if a person has a lot of money, one’s income is still one’s income.

Besides paying such public goods like roads, national defense, police and the courts; any further taxation is antithetical to liberty and freedom for which this nation was founded.
1 Stars
Andy
Arlington, United States
Rich shouldn't be taxed! What do you think is the way to become rich? They have earned that money from common men. What is bad if they pay little part of it for the welfare of that common men.
1 Stars
Jerome
Denver, United States
Marco
I think there are political motives behind the opposition to tax the rich for public health care plan.
1 Stars
Marco Villa benaliwatch.blogspot..
Connecticut, United States
of course, they do not want to tax the middle class because that would ensure electoral defeat.
1 Stars
Jerome
Denver, United States
Why to tax middle class at all? Obama is right in taxing the rich. They should share some part of their money to ensure the well being of their fellow country men.
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