NY Post
“It’s that much higher?”
“It’s that much higher?” asked IT worker Vikas Kataria, 34, who discovered that his combined household income of about $250,000 per year will cost him nearly $10,000 more in taxes.
“I thought it was a couple thousand — but that’s a lot,” said Kataria, who works at Merrill Lynch in Manhattan and is married to a systems analyst for a brokerage firm. “That’s huge!”
With higher taxes, the couple would have to cut out on traveling and family vacations.
Clothing designer Peter Opie, of Canary Wharf Clothier, made about $2 million this year — and would see his tax bill spike by a staggering $100,000.
“The system is nuts here — it’s madness personified!” he said
Blowback
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Depression awaits the land.
Schadenfreude on December 28, 2012 at 1:06 PM
No, you’re not. Let me enlighten you. “Capitalism” is what happens when people are free … when liberty is abundant. It is not a “system” or idea, it’s just free people engaging in commerce and living their lives free of government intrusion and coercion.
Fascism and socialism are systems and ideas and what you see happening today is a direct result of socialist ideas and policies. Capitalism has nothing to do with it.
darwin on December 28, 2012 at 1:07 PM
Higher GDP = Higher revenue. That’s a fact. Is it easier for you to deny facts if you label them nutty?
blink on December 28, 2012 at 1:08 PM
Obama will scroom you and the land until you bleed.
In the meanwhile he/her will live like billonnaires, based on absolutely nothing.
How the world and the land deserve the charlatanic thugs.
Sheep deserve to be consumed by wolves and foxes, always.
Schadenfreude on December 28, 2012 at 1:08 PM
relax. it will barely make an impact.
sesquipedalian on December 28, 2012 at 1:09 PM
It always amazes me that supporters of socialism have no idea what socialism is or what it eventually leads to.
darwin on December 28, 2012 at 1:09 PM
It’s only Dec. 28, 2012. You ain’t seen nada, yet.
sesqui is right in one regard, upping the taxes on the super wealthy won’t make one iota of a diff….why it’s such a charlatanic argument and lie on the part of Obama.
Schadenfreude on December 28, 2012 at 1:11 PM
Amen.
From the article:
Boo-fxxking-hoo. While I have sympathy for the small business owners who will have to lay people off, these other examples make the speakers just sound like whiners.
Hey, New Yorkers, welcome to the world the rest of us live in, where we can only afford vacations once every 5 years, where we skip the golfing because we can’t afford the country club membership, and where we do our own g-dd-mned bathroom renovations.
JimLennon on December 28, 2012 at 1:12 PM
This is funny. Everyone knows that Owen Zidar attempted to claim that certain dependent economic variables are independent. The paper has been thoroughly debunked.
Did you even read it before linking to it?
blink on December 28, 2012 at 1:12 PM
Oh boy! A paper from an “economist” at Cal Berkeley aka communist fantasyland.
Stu Gotts on December 28, 2012 at 1:12 PM
We prefer to use logic instead of tortured fantasy. When you take hundreds of thousands of dollars out of someone’s pocket there will be a negative economic result. That is undeniable.
darwin on December 28, 2012 at 1:12 PM
Without so many weasels there would never be dictators. It’s why the weasels get shot first. See Stalin and all his followers.
Schadenfreude on December 28, 2012 at 1:12 PM
yeah, but lower taxes on the top 2 percent do not lead higher gdp.
sesquipedalian on December 28, 2012 at 1:13 PM
Whistling past the graveyard.
True to form, you are completely ignoring the other overwhelming tax increases that are coming in just four days. The 0bamacare mandate, capital gains, the death tax….. all are going to go through the roof. And you don’t think it’s going to have an impact?
Even if we kept the tax rates where they are, these other tax increases are going to have a profoundly negative impact on human activity. Which is economic activity.
UltimateBob on December 28, 2012 at 1:14 PM
The rich will increase the prices of their goods/services, find other loopholes or move their accounts, or altogether. They will never be impacted.
The fools will pay and dance…why they are fools.
Starve the Looters, always. Obama is the biggest Looter in the world.
Schadenfreude on December 28, 2012 at 1:14 PM
i’m sure it was debunked in wing nut daily, along with obama’s phony birth certificate.
sesquipedalian on December 28, 2012 at 1:16 PM
Circle logis…here is the most illogical of all such statements…take a class sometimes “ask not what your country can do for you…ask what you can do for your country”. Still, Kennedy was a leader/mensch compared to the inept charlatan of today. That falacious statement didnt mooch the land into depression. It also never assumed that banks print money and milk flows from the grocery store.
Schadenfreude on December 28, 2012 at 1:17 PM
logis = logic
Schadenfreude on December 28, 2012 at 1:17 PM
A completely debunked paper from UC Berkeley? Do try harder next time.
Besides, you said on page 2 that the destruction of disposable income and higher unemployment were the prices we had to pay, since this isn’t a bottomless jug of creme fraiche.
Now, on page 3, you’re saying it won’t make an impact.
Which is it?
Washington Nearsider on December 28, 2012 at 1:17 PM
didn’t mooch
Schadenfreude on December 28, 2012 at 1:18 PM
You don’t get anything near enough to get the deficit under control.
Obama is borrowing over a trillion a year. That’s over 1000 billion a year. At most he’ll get 80 billion the first year, and probably decreasing amounts after that.
The problem is not taxes.
darwin on December 28, 2012 at 1:18 PM
Not at all. Did you even read it? Can you defend him attempting to claim that certain economic variables are independent?
Or did you simply copy and paste this from a libtard talk point website?
Serious question, sesquipedalian. Why do liberals hate math and science?
blink on December 28, 2012 at 1:18 PM
Fine. Then we’ll start by taking all of your money.
GWB on December 28, 2012 at 1:18 PM
If removing millions of dollars of disposable income doesn’t affect the economy, driving an SUV doesn’t affect the environment.
Washington Nearsider on December 28, 2012 at 1:19 PM
She is right – it won’t make an impact on the rich, nor on the land. It’s why Obama is so wrong to use such a divisive argument, all for nothing.
Schadenfreude on December 28, 2012 at 1:19 PM
Except for what the Looters give her she has none.
Schadenfreude on December 28, 2012 at 1:19 PM
It’s absolutely part of it. But obviously, much more of Obama’s fiscal and regulatory insanity would need to be reversed in order to get the economy rocking again.
blink on December 28, 2012 at 1:20 PM
Not to sesqui. Words do not equal logic there.
GWB on December 28, 2012 at 1:20 PM
Gnats and plankton have no brains.
Schadenfreude on December 28, 2012 at 1:23 PM
Why be amazed by that? Socialists are stupid, and its in the nature of low-IQed people to not think much about the future.
Anti-Control on December 28, 2012 at 1:24 PM
Why the future is lost. The masses are more stupid than rocks. So-called ‘civilization’ and ‘humanity’, and the stolen term “progress” are in a drastic regression.
Schadenfreude on December 28, 2012 at 1:27 PM
It seems sesquipedalian has given up … again. The threads usually end with sesquip being reduced to simple sentences of defiance then disappearing.
darwin on December 28, 2012 at 1:33 PM
The paid propaganda shift ended.
Schadenfreude on December 28, 2012 at 1:35 PM
darwin on December 28, 2012 at 1:33 PM
I’ve seen this before. Their heads always get shot first.
Schadenfreude on December 28, 2012 at 1:35 PM
I really don’t understand why someone would choose to come get ass pounded for a few hours.
Washington Nearsider on December 28, 2012 at 1:37 PM
You guys should stop feeding the troll. He isn’t here to debate and is responding to everything with zingers, one liners, talking points and other communist-style slogans. You can explain all you want, but he’s not going to seriously debate you. Debate actually weakens his position.
Doomberg on December 28, 2012 at 1:40 PM
Propaganda dough, from your taxes.
Starve the Looters.
Schadenfreude on December 28, 2012 at 1:45 PM
I want the Troll to have his own little country with all of his buddies. I want it to be separate from my country. When he creates his own little socialist hell-on-earth I want him to own it without excuses.
trigon on December 28, 2012 at 1:45 PM
Those places already exist and are called North Korea and Cuba.
Stu Gotts on December 28, 2012 at 1:51 PM
they usually end when sesquip has to focus on his work while you indolents spend your entire day kvetching about the lazy moochers.
sesquipedalian on December 28, 2012 at 1:56 PM
Wow … you sound angry that you have to earn a living. Have you tried disability or welfare? Word is you can get a free phone too. Give it a shot, that’s what Obama would want.
darwin on December 28, 2012 at 2:17 PM
Are you as clueless about your work as you are economics?
blink on December 28, 2012 at 3:42 PM
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