Green Room

Obama’s plan to raise taxes on the other 98% PLUS egg on my face

posted at 12:21 pm on July 27, 2012 by

Whether you call it class warfare or use the Democrats’ preferred term, economic fairness, the president’s attack on the wealthiest 2% of Americans polls well. The notion of the richest Americans paying their “fare share” seems to resonate with middle class voters. And if he is re-elected, Barack Obama will do his level best to make that promise (threat?) a reality at year’s end by allowing the Bush-era tax cuts to evaporate for any family earning above $250,000.

He has other plans as well, about which he is far less vocal when addressing rank-and-file audiences on his campaign tour. One of those plans is to permit the current tax rate on dividends from investments to expire. Unless Congress takes action before the year is out, the rate, which is currently 15%, will soar to 39.6%—a jump of more than 160%.

Dan Kennedy writes at the Media Research Center’s blog:

Obama would have you think those impacted by this hike are fat cat oil barons sitting around the country club, brandy snifters and cigars in hands, sneering at the economic suffering of the little people. According to an Ernst & Young study, the facts are much different. More than two-thirds of the households with dividend income on their tax returns have household incomes below $100,000.00. Also, over half of these investors are over age 50—including, of course, many retirees trying to live on these dividends.

Kennedy notes that a grass roots group that calls itself Defend my Dividend has set up a website that more information.

Mea Culpa

Readers who tuned in earlier and commented on a column purporting to expose tax improprieties on Obama’s 2004 return may wonder what happened to it. The answer is that it has been pulled at my behest. The source from which I drew my information at American Thinker was wrong or at least incomplete.

Several plausible explanations for the seeming discrepancy are raised here for those who care to pursue it.

My apologies to all and my promise to endeavor to do better.

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Howard Portnoy: more integrity than the big name media outlets.

cozmo on July 27, 2012 at 12:28 PM

If bho is re-elected, the citizens have NO idea what bho has planned for the total crater of our Republic! Not even the congress or courts will be able to do much, IMO! bho hasn’t let the congress or courts stop him in his almost four years and bho’s not about to let them stop him if re-elected!

I was curious what happened on the tax return thread, thanks Howard for being honest on your posts.

An O/T little fun quiz if you want to play? Sorry it is a bit long, but is fun, IMO! I know I’m not suppose to go O/T much.

DO NOT cheat and scroll down to the movies.

Do the math, THEN compare the results to the list of movies at the bottom
You will be AMAZED at how scary and true and accurate this test is.

1. Pick a number from 1-9.

2. Multiply that number by 3.

3. Add 3.

4. Multiply by 3 again.

5. Your total will be a two digit number.

Add the first and second digits together to find your favorite show
(of all time) in the list of 17 movies below:
Movie List:

1. Gone With the Wind
2. E.T.
3. Blazing Saddles
4. Star Wars
5. Forrest Gump
6. The Good, the Bad, and the Ugly
7. Jaws
8. Grease
9. The Obama Farewell Speech of 2013
10. Casablanca
11. Jurassic Park
12. Shrek
13. Pirates of the Caribbean
14. Titanic
15. Raiders of the Lost Ark
16. Home Alone
17. Mrs. Doubtfire

Now, isn’t that something?
L

letget on July 27, 2012 at 12:39 PM

Howard Portnoy: more integrity than the big name media outlets.

Thanks, cozmo, but I still say, “Feh!”

Howard Portnoy on July 27, 2012 at 12:42 PM

but I still say, “Feh!”

Howard Portnoy on July 27, 2012 at 12:42 PM

But do you still call bad guys that get hurt by good guys while the bad guys are committing crimes victims?

Way more important than “Feh!”

cozmo on July 27, 2012 at 12:52 PM

But do you still call bad guys that get hurt by good guys while the bad guys are committing crimes victims?

;-)

Howard Portnoy on July 27, 2012 at 12:53 PM

So what is Portnoy”s Complaint?

woodNfish on July 27, 2012 at 1:39 PM

@woodNfish on July 27, 2012 at 1:39 PM

Oh, har de har har. I’m sure Howard’s never heard that joke before in his whole life.

Reminds me of what my friend Mindy went through in high school: Day in and day out, our keen-witted peers would ask her, “Hey, Mindy, where’s Mork?”

Mary in LA on July 27, 2012 at 4:20 PM

Kudos, Howard! Your mea culpa was far quicker than Brian Ross’… oh wait, that’s right… he still hasn’t apologized.

gravityman on July 27, 2012 at 4:24 PM