advertisement

The world-famous Internet site of the Nationally Syndicated Neal Boortz Show!

Search Boortz.com
Enter search terms:
Browse Boortz.com
Today's Nuze

"Every government interference in the economy consists of giving an unearned benefit, extorted by force, to some men at the expense of others."

Ayn Rand

Nobody's listening.

TAXING THE ACHIEVERS

By
Neal Boortz
@ February 27, 2009 9:15 AM
Permalink | Comments (72) | TrackBacks (0)

Barack Obama is well on his way to taxing the dog squeeze out of the achievers, the business owners, the wealthy - the people who create the jobs in this country. Starting in 2011, over the next 10 years, Obama is proposing almost $1 trillion in tax increases. And you wealth-envy types can rest your pretty little heads .. he is going to increase taxes on those evil rich people you so love to hate. Jake Tapper from ABC News has the breakdown:

1) On households making more than $250,000:

  • $338 billion from turning back the Bush tax cuts.
  • $179 billlion by reducing the limits on itemized deductions
  • $118 billion by increasing capital gains taxes

Total: $636 billion/10 years

2) On evil businesses:

  • $17 billion comes from bringing back the Superfund taxes
  • $24 billion fromtreating tax carried-interest as income
  • $5 billion by codifying "economic substance doctrine"
  • $61 billion from repeal of the LIFO accounting practice
  • $210 billion from international enforcement, reform deferral, other tax reform
  • $4 billion - information reporting for rental payments
  • $5.3 billion from excise tax increases on Gulf of Mexico oil and gas
  • $3.4 billion from repealing the expensing of tangible drilling costs
  • $62 million from repealing the deductions for tertiary injectants
  • $49 million from repealing passive loss exceptions for working interests in oil and natural gas properties
  • 13 billion by repealing manufacturing tax deductions for oil and natural gas companies
  • $1 billion by increasing to 7 years geological and geophysical amortization period for independent producers
  • $882 million through eliminating advanced earned income tax credit

Total: $353 billion/10 years

There are people who actually believe that Obama is going to succeed in his quest to return economic prosperity to our country through taxation. There are also people who believe that wet streets cause rain. These people are commonly called "idiots."

Categories:

Tags:



0 TrackBacks

Listed below are links to blogs that reference this entry: TAXING THE ACHIEVERS.

TrackBack URL for this entry: http://boortz.com/blogging/mt-tb.cgi/22870

Jamie Dupree's Blog

If you enjoy Neal's daily chat with Jamie Dupree, you'll love Jamie's Blog! Check it out for analysis of the campaigns and goings on in Washington D.C.

Take Back Our Government!

Herman Cain is putting together a movement to take back our government. Do something now! Join the Hermanator's Intelligent Thinkers Movement, HITM! , and take part in the political revolution of 2009! "When they feel the heat, they will see the light!"

Belinda Skelton, Cristina Gonzalez and Laura Nunemaker assist in the daily preparation of Nealz Nuze!


Avg. rating: N/A

What others are saying

  • forget forward, let's move Upward!
    The right is wrong, the left is stupid.
    It's more than a bumper sticker it's a fact!
  • Re:By Just stating the obvious @ 02/27/09 11:41:09 AM
    That only works for the obvious and the unprepared. Especially if someone catches them in the act and makes them pay for it.

    This isn't 19th Century Colorado, Mr Pinkerton.
  • Surely any Idiot can understand
    ...that any tax increase on a business is ultimately paid by the end consumer right?
  • So, who will really pay for my tax increase
    I'm an evil high earner (and high achiever accordingly). My ex-wife will confirm the evil part. My pay stub will confirm my earnings, which are well into the 6-figures.

    So being evil, when my taxes go up I'll just take it out on the local economy. I'll eat out less often and pay more attention to my grocery shopping (coupon clipping here I come). I'll take my kids to the movies less, Chuck-E-Cheese less, and other costly entertainment venues. I won't play golf less, but I may play cheaper courses and not upgrade my clubs as often. I'll probably buy used balls off eBay as well.

    I may also take my clothes to the dry cleaner less often. I was once an Army MP where knowing how to iron sharp creases was a critical skill. I may just get a tune-up and keep my car a few extra years. A newer one would be nice, but since my taxes are going up I'm sure I can live without it.

    I was going to hire a contractor to do some minor remodeling in my house. Just a little rework of the master bath and master closet. It would be a nice improvement that I can certainly live without for now.

    So, let's review who is actually going to pay for my higher taxes:

    - Sangria's, Shorty's, and Marlow's restaurants in Tucker
    - Regal Cinema in Chamblee
    - Movie Tavern in Tucker
    - Chuck-E-Cheese near Mall of GA
    - The putt-putt golf place near Gwinnett Mall
    - Stone Mtn park (Golf course)
    - Northcrest golf driving range
    - The dry cleaner at my office bldg
    - local BWM dealership (love the X5's, but can live without it)
    - local contractor & Lowes/Home Depot

    I'm sure I can cut a few other things if pressed. However, those above are relatively easy to cut. In fact, if I get used to cutting I may find more money to put into my 401K or some other tax shelter investments. (Clark Howard would be so proud)

    Now I'm ready to be economically punished for being successful and responsible. Tax me! Tax me to death! Then watch who will really suffer.
  • Targeted tax cuts?
    I'm so sick of this liberal ignorance. The Bush tax cuts were ACROSS THE BOARD and targeted allright, to people who actually paid taxes
  • Copyleft - Tax cuts 2
    President Bush cut taxes for all Americans with a tax liability, he did not give a tax credit or welfare to individuals that did not have a tax liability and call it a tax cut. You really need to do some research and educate yourself to the facts, of course you don't have to believe me, look it up yourself. Finally, the 2001 and 2003 tax cuts produced 20% more revenue to the federal government,but of course the RINO's and Democrats spent our funds like drunken sailors, which is all Dems do, (Change)really and Bush did not use the line item veto to curb the spending.
  • The world's smallest violin is playing a sad song.
    So taxes for people making over $250,000 dollars are going to go up a measly 3%, back to where they were before George W. Bush took office and you people from the "Government should kill foreigners, lock up criminals and do nothing else." brigade are freaking out like extras from some rubbish disaster flick from the 1970s. You need to get over yourselves because ninety-something percent of the human race would ***LOVE*** to have problems like yours.

    At any rate, I assume that most of you drive to work every day on roads that were built using taxpayer money for the common good. At the risk of pointing out the obvious, there are far more homes and businesses in places where there are roads than there are in places where there are no roads so maybe government can do a little something to help the private sector along every now and then and these McCarthy-esque histrionics are kinda silly. Are you all going to start telecommuting or are you going to start calling each other "comrade"?
  • Speaking of foolish
    To: Joyce
    "I'm not even going to try to defend Bush, but just ask yourself, does the past mistakes mean it's ok to screw up again!"

    Of course not. Which is why we're not trying targeted tax-cuts for the rich again. They didn't work before, and it would be foolish to think they'd work now.
    By Copyleft @ 02/27/09 02:39:44

    Once again, spend less as you are taxing less. One without the other does not work. Just as spending spending spending does not work.
  • Spend Spend Spend
    ...us into eternity. And how is that different from where you claim we were before? Who's money are the Politicians spending? There is only so much tax money you can squeeze from a turnip.

    And since when did the definition for middle class change? It used to mean parents who had graduated from college, making good money, in a nice house, college funds for their kids, possibly their own small business....

    HEY that's the ones that are now being called the evil rich! Tax the hell outta them.

    I guess now, middle class is the ones just getting by is that it? Maybe they need to do what others did to rise above: improve your bottom line. Easiest way to do that is cut your expenses and don't spend more than you have. Oh hey, that would be a great idea for government! But you morons are too busy whining about the past.

    We used to teach our children that hard work would get you ahead and you could live a good life. Now that is an evil proposition. So we'll just start teaching our children to be mediocre and live on what the government says is ok.
  • Let try to make this simple so Copyleft can understand
    I will make this simple so that you MIGHT beable to understand what is happening.

    Here is a FIRE in the house, not a big fire but a FIRE! Now we call the fire department, Obama to come put out the fire. Does he show up with a water truck. NO HE SHOWS UP WITH A GAS truck, Stimulus bill & the $410 Billion bill just passed. He starts pumping GAS on the fire. The fire gets BIGGER & BIGGER. He has no experiance in firefighting so he PUMPS MORE GAS, the Tax plan on the FIRE. The Fire gets Totally out of control and the homeowner LOOSES EVERYTHING.

    Now do you understand. Things were bad. I do not care WHO'S fault it is but now things are going to get worse.

    I am in the Middle class just like you and I see no good coming from any of this.
  • To: Truth
    The TRUTH is, tax revenues go up every year, regardless of incremental tax rates. Check the numbers.

    Tax cuts have a trivial effect on the economy, if any. They're overwhelmed by larger factors like infrastructure spending, externals like the war, and technological shifts like the internet bubble.

    Do some reading. Tax cuts do not drive the economy. (They also don't cure cancer.)
  • Copyleft - Tax cuts
    You say, "Which is why we're not trying targeted tax-cuts for the rich again. They didn't work before, and it would be foolish to think they'd work now."

    For the 200th time, LISTEN UP, MORON: First year Bush tax cuts went into effect, 2003 tax revenues were 1.7T. went up steady each year since. 2007 tax revenues were $2.6T. Which part of that don't you understand, you illiterate bedwetting dolt?

    The exact same thing happened under JFK and Reagan tax cuts.

    The problem is spending on all your lib garbage over the years. Now you want to increase that exponentially under President Hussein BOzo.

    Good grief! I've crapped out stools that have higher IQs than you.
  • Just hold on just a ding dang second
    On the issue of 'the last eight years under Bush / Republicans'- You gotta remember that these 'Republicans' we're RINO's, hence, liberal republicans. Now, those of you that are bitching about the Bush Years better be bitching big time this go around. You complain that Bush's presidency 'got us where we are', well guess what, Obama just picked up that fumble and is takin' down the sidlines for a great big liberal TD. You hated the last eight? You ain't seen nuthin' yet, pardner.
  • To: Joyce
    "I'm not even going to try to defend Bush, but just ask yourself, does the past mistakes mean it's ok to screw up again!"

    Of course not. Which is why we're not trying targeted tax-cuts for the rich again. They didn't work before, and it would be foolish to think they'd work now.
  • To: Shutdown
    Ahh, thanks for clearing that up.

    No, I haven't had to make any special adjustments in light of the stimulus bill or the new budget. I've had to make plenty to account for the economic downturn, of course--but that's a different subject! (Or is it?)

    As I said: I expect things for the middle class (to which I belong) to improve as a result of these changes. So do the plan's creators! After all, is anyone seriously arguing that "The Obama administration wants to destroy America"???
  • RE: John in Charleston
    Best Idea I've heard yet.
  • Thanks Jake
    Thanks Jake Tapper for breaking down the bill for those of us who are still trying to dispel the smoke and return the mirrors back their proper place after Tuesday night's Obamafest.
  • This "Change" we're suppose to believe in
    When enough Americans have lost their savings, their assets, their jobs, their morale, and their patience, I hope you remember that much of what is being forced upon us can be overturned in two years, if enough "CHANGE" in both houses of congress can occur. Maybe enough to even overturn a veto.
  • hugo's ghost
    why in the blue hell do you even post here? we dont want you here! stay home with your momma baby
  • Stan
    "Tax Cuts? Obviously the Bush tax cuts didnt do much to help the economy. Again I ask where were all these economically conscious people when Bush was flushing the USA down the toilet?"

    If I hear that one more time bullets are gonna shoot out of my eyes!!! I'm not even going to try to defend Bush, but just ask yourself, does the past mistakes mean it's ok to screw up again! Can you stick to the current times JUST ONCE!

    Hey, are you actually the other moron on this board who shall remain nameless?????
  • Do you guys want a tissue? Get used to it; complain about it all you want, but get used to it. Your Republican buddies are the ones to blame for this.

    I think I was a fairly conservative man until the past month or so when conservatives have had the gall to criticize President Obama after 8 years of allowing George W. Bush to do whatever he wanted. I voted for George W. Bush, and would not change my 2004 vote if I were given the chance. That does not mean that I am getting my pants in a wad over the Obama administration. The Republicans failed. so now it is time to give the Democrats a chance to succeed.

    I wonder what would happen, if 8 years from now, the country is in good shape economically? Will conceptual conservatives still hold that their economic libertarianism is "better" than Democrat economics, even when the empirical evidence suggests otherwise? I have a feeling the answer to that is "yes," because people like Neal Boortz do not care about empirical results or what is good for other people. So long as he can hold on to his wealth and his illusion that he earned it without the help of anyone else, he would be happy.

    Seriously, Boortz is becoming a pretty big joke. Hold onto your stale ideology guys! Libertarianism has never worked in this nation, nor will it ever. Keep telling yourself it will, though, if it helps you sleep at night.
  • Tax Increase
    Tim, PrezBOzo is no doubt lying about only taxing those over 250K. As you said, the business owner will just pass on the extra cost to the consumer.

    There's another point, which was written in the WSJ yesterday. The column was called "The 2% Illusion". Here's the link (http://online.wsj.com/article/SB123561551065378405.html?mod=djemEditorialPage)

    The column takes the IRS stats and points out that even if you taxed the "rich" at 100% rate (i.e. for you libs out there, that means if you took every single penny they earned) it wouldn't even come close to covering all that he has proposed. Remember during th campaign how he and Biden kept moving the scale on who is defined as rich.

    Bottom line: if he wants to increase taxes to cover this circus, then he will have no choice but to dip lower on the income scale to include more "rich" people (in other words, anyone with a heartbeat and a commute to work will be considered rich for tax purposes).
  • back to you Copy
    I said nothing about decreasing my productivity, but I admit my error in not being more specific. What I meant is that the work would be done, but compensation for that work would be handled in one of two ways - more than likely the second option since I'm not too crazy about working for free.

    While I'm here -
    My second course of action in the face of the stimulus bill:
    Drastic reduction in my discretionary spending so that when "they" come for the money I will have something to hand over. (can help keep from being shot in the face in some muggings, ya know?)

    OK - your turn. Are you having to change anything at all in light of this bill or this administrations misguided ideas?
  • To: The Truth
    Please quit responding to (encouraging) copyleft. If you ignore him, maybe he'll find someplace else to play.

    You can't argue with lies and stupidity.
  • Copyleft
    I am seriously getting tired of the mindless drivel that comes out of your mouth. It is wrapped up in that typical liberal elitist pseudo-intellectual condescending sort of way. That "finally we have a thinker and adults running the show" nonsense.

    You may impress your treehugging uninformed mindless drones you sip lattes with. You are a moron. My guess is you rage with envy at the achievers because you are a loser who has never accomplished anything.

    So, genius, please give me on freakin' example where Keynesian garbage has worked. Just one example, you libtard.
  • Picking up the tab
    We have to pay the tab so why not pass it along to the guys at the table who have the biggest bank accounts? Cause after all, they screwed someone to get it and they don't deserve it. That's the thinking on the Left. ( no pun intended Copy...) So we'll punish achievers and reward mediocrity( that's the liberal God of the Average ). I heard a caller on a talk show whine about how he only made 38k a year and the rich guys caused all these problems and they need to pay more taxes. The guy left out the fact that he probably gets a tax refund every year but that's an minor deatail! I thought it was a put on but the guy stayed on for 12 minutes. I hope readers like Copyleft and Hugo are smarter than that. They're here so they'd have to be. I see countless examples of successful people who worked hard,( I know, everybody works hard...)learned some skills, made smart business decisions and were willing to scarifice to get where they wanted to go in life. But the poor 'hard workin' Americans who just clocked in and did their 40 can't understand why they are still making a wage and don't have healthcare for little or next to nothing. It has to be someone else's fault! Couldn't be theirs. So by golly, those folks makin' over 250k better ante up and just get over it...the DNC is here! I picture Obama in front of a mirror trying on a top hat ala Lincoln then a cigarette holder in the style of Roosevelt. Scary.
  • Tax Increase
    The point the Obamites are missing is that Obama is lying in his claim that no one earning over 250K will see one penny of tax increase. This is foolhardy. As taxes are increased on those earning over 250K, most being small business owners, they will raise prices on all consumers to pay the taxes. Voila! tax increase on your sorry AZZ regardless of your income level.
  • 50% of nothing is nothing.
    These fools at the wheel of government are done with the ditch and are going for a cliff. Add their sky’s the limit taxation, rampant nationalization, environazi policies and carbon 'industry,' and it takes no genius to see the disaster we are heading for. Those old enough and paying attention when carter was wrecking the economy have some idea of what is to come.
    The 'smart people,' have forgotten someone has to create wealth before they can loot and spend it.

    What is greed, if not taking another's property or voting for someone who would? A system based on plunder is not sustailable
  • CopyLeft - Seriously?
    So without government intervention, trade would not exist? Call government intervention whatever you like, its still government intervention. "Its not fascism because we don't call it that."

    Your philosophy is nothing more than a Broken Windows fallacy.

    And seriously, tariffs? Have you not learned from history? Do you want to start a trade war? Do you understand that when you raise tariffs, you increase the cost of goods, further straining the wallets of Americans already struggling?

    Of course, I've read your posts before. You're just a troll, you're not interested in educating yourself.
  • Well...
    Now we KNOW he's pro abortion!

    Economy, Aborted.
  • To; shutdown
    Yes, and with your reduced productivity, your company will need to make up the difference in some way if they want to stay afloat. One way would be to hire more people.

    Another, of course, would be to shut down and move overseas where workers are unprotected and easier to exploit... but we can counter that with some good old-fashioned protectionism, such as tariffs.

    Keynes proved it decades ago, and he's still right: The market should not, and CANNOT, function properly without extensive government involvement. Which I call "oversight by the people." Not a bad thing, really.
  • Obama's New America
    Warning. Here comes a rant. What has happened to the quintessential real American? Our nation has devolved into a country of celebrity worshipping, weak, mindless, unhealthy whiners. Will anyone really care about CEOs' salaries when one of our American cities is in radioactive ruins? Who will defend us when all of the "men" are surrendering and running away? Oh, and remember when all of the liberals called Bush a dictator? Now it seems that they wanted one all along. They just wanted to pick him. Sad, sad, sad. Someone give me hope.
  • History according to Copyleft
    One word comes to mind when reading your drivel. Inept.
  • "There are also people who believe that wet streets cause rain."

    It would be better stated as "There are also people who believe that dry streets cause rain."
  • You too Copyleft
    You and Hugo are just "cage rattlers" aren't you?
    Now you state that FDR's New Deal did it and that it worked, and I'm betting you even have a source or two to back that statement up.
    You and I surely visit different websites for our information. My various sources (among which is a favorite of mine called American Thinker), in which several past articles debunk your statement, are undoubtedly just as much crap to you as yours are to me.

    I want something real from you Copy - how is all this affecting you? What do you need (or not need) to do at this point to avoid increased taxation, or some other "giving back" BS effort, and why or why not?

    I'll go first with one, all right?
    My combined household income is right at the threshold of this $250K number plucked straight outta BO's a$$. I'm paying attention here, ok, so any overtime I work will either (1) be declined, or (2) awarded as comp time. There is no way in hell I'm allowing my gross household income to break $250K this year (see LOLO's post below - he's right on!).
    What will the Imperial Thieves do when they see a preponderance of these actions taking place across the country? Exactly right Copy!!! - they are going to lower that number. Then, I am screwed. See, you are a smart guy! (I think Hugo is too, just can't figure out what your real game is here besides mischief)
  • riduclous
    This is ridculous.. how can a man who has never worked for a company let alone ran one.. make policies that dictate their success?

    This is going to cause RAMPANT unemployment and very well could send us into a depression.

    NEWS FLASH for obama.. businesses depend on other businesses and consumers to make money.. its like a stack of dominos.. if you knock enough of them over eventually NO ONE WILL BE LEFT... perhaps thats his strategy? Afterall.. in the face of adversity.. govt is the savior.. and what better way to make govt the savior than to use the messiah's tax system?

    Ya know.. my company is doing well.. I WAS looking at buying an investment home or buying a better home.. maybe a new car in 2 years..

    I guess I'll have to tell the home developers, lowes, all the small busineses I would pay to contract on my house, and automakers.. and the people who make parts for said automakers.. that they're just gonig to have to do without.. I'm paying down my debts.. and starting a garden..

    Am I the only one who is surprised that america is falling with loud applause??
  • Copyleft
    If the New Deal worked, then why was the United States still in a depression in 1939? FDR had a good five to six years to implement what he wanted so why didn't we see the largest increase in the American economy during this time?

    By the way, justice means you get what you deserve. Same thing with fairness. If you work hard, make smart business decisions, and succeed because of it then why is it the government's job to declare that that's not "just" or "fair"? Seems to me that it's completely just to reap the rewards of good decisions.
  • Hey Copyleft....
    You are a moron. Do you not realize FDR's big govt ideas are a lot of the reason we are in this mess now? He came up with nonsustainable plans that Obama wants to expand on. Why do you not credit World War 2 with helping to spur growth and change?
  • Revised History?
    CopyLeft where the heck did you get that history? The growth of the middle class did increase under FDR as a result of the massive job growth spurred by the war combined with a large segment of the male population entering military service, not the New Deal. Then the US entered into a post war recession and has had 10 recessions of varying degrees from 1946 through 2008.
  • The return of Rome....
    Well this is the kind of thing us Ron Paul supporters(read traditional conservatives) have been talking about for quite some time. Obama is trying to run an empire and not talking of downsizing. He's about to run the productive class out of the country.Imagine what will happen ONCE HE BACKS AMNESTY!! He could easily avoid all this nonsense by switching to a foreign policy of not trying to police the world to the tune of 1 trillion per year. Read up on what happened once the Romans could not afford to pay their soldiers. There's probably 2 more elections to turn this thing around. The midterm in 2010 and the presidential in 2012. But the GOP MUST severe its leftist big govt neo-conservative Hannity,Patriot Act type or it WILL lose to Obama again. We have to embrace the constitution and small government...its the only way Obama will be defeated.No 2 ways about that.Lets start looking to Jefferson,Madison and Coolidge.
  • whom to fire
    If you're not sure, stake out the parking lot and see who has the "O" bumper stickers, but make sure you don't do it on Fridays or Mondays they likely will be no-shows on those days.
  • Tax Cuts?
    Obviously the Bush tax cuts didnt do much to help the economy. Again I ask where were all these economically conscious people when Bush was flushing the USA down the toilet?
  • Actually, taxing the rich works quite well
    FDR's New Deal did it--and we had an unprecedented level of growth of the middle class, the "real Americans" who deserve our foremost focus. In fact, the very top tax rate was better than 90%! And the wealth gap narrowed.

    Does that alone ensure a prosperous society? No, but it goes a heckuva long way toward a just society. And in case you've forgotten, "justice" means more than "I get what I can for myself, and screw everybody else."
  • Businesse DONT REALLY PAY TAX's
    Anyone that has studied Businesse or has half a brain knows that Businesse do not pay taxes. TAXES are a OPERATIONAL EXPENCE and will be pasted on to the CONSUMER. That means everything these companies make or provide will COST MORE. The people will be paying these taxes. Way to go O-GREAT ONE!
  • Hugo's Ghost
    Hugo, you're a drooling retard.
  • Damn!
    Well, it looks like I will do everything to achieve success for myself and family until I hit the $250,000 threshold. Then I'll let my wife quit work. I'm sure that number will be lowered to about $150,000 in due time.

    I can't stomach our hard work paying for the all of the slugs out there.

    BTW: If you think that these "slugs" are just hard up on luck, go to your local gas station and just observe for about 5 minutes what these people spend their last few dimes and pennies on and what they talk about, like their 16-year-old daughter having her third child for example.
  • What we should tax..
    There should be an increase in taxes on Alcohol and Cigarettes. (Probably higher on Cigarettes). The reasoning? Well, we know that "the poor" tend to smoke and drink quite a bit, don't we? And "the rich" that do smoke and drink should be able to afford those extra taxes, right? Also, Smoking pollutes "The public's breathing space". Come to think of it, shouldn't there be a greenhouse tax on Cigarettes, too? Oh, wait.. Obama is a smoker, isn't he?
  • taxes
    As if I don't have enough taxes to pay. As the owner of 2 "S" Corps I have to deal with the State "Franchise Tax" ( privilege for having a business registered), State Business Income tax (Yes after all its a corporation) , County Personal (business asset, computers, trucks…) property tax, Inventory tax, Futa,Suta, Social Security & Medicare match for my employees before I make a dime.
    After that I will be allowed my PATRIOTIC DUTY by surrendering my K-1’s value under the new budget to give 8%(rounded) of the remaining income to social security & Medicare (being self employed I pay both sides hence I doubled the taxable amount) on the next 200 + K of income (3% thereafter), 39.4% to the feds, 8% to the state (ah yes we also have a progressive state income tax too to make the evil rich pay their fare share). Then I will not be allowed to DEDUCT my State income tax, my state personal property tax (car, home, boat, plane… pick one that you may own) and have my charitable deductions disappear (if I were Joe Biden this would not be an issue as after all what is $500 per year), which will gross up my income and result in additional funds being transferred from my pocket to the black hole in Washington. Combine all of this together Government entities of all stripes are relieving me in excess of 56% of my income.
    After a while one wonders why I am in business!!! I spend more hours on the job, have all of the risk (non payment for services, mistakes by employees, legal proceedings, EEOC, EPA, ect.), and the rewards are decreasing. I more than ever understand the reasoning of a plumbing sub contractor I used during the Carter years. He used to close his doors on approximately July 1st when he reached the threshold for the top tax bracket; it was going to be a cold day in hell before he would work a whole year for the same amount of money with more headaches he could make in 6 months just to keep someone else employed!
    What would all these buffoons do if all small business did the same thing????
  • Response to Hugo's ghost
    Hey ghost - Neal worked hard and earned every penny he has. Why don't you work two jobs for the first umpteenth years of your adulthood, pay your own way through law school, set a goal and work hard to achieve it - AND still give generously to charities? Then perhaps the whining that emits from comments like yours will sound more like the annoying mosquito buzzing that it is.
  • But wait, there's more...
    So, what happens to our economy when businesses and the "rich" have to pay more taxes? Can I make a prediction?
    1) Businesses will raise prices, and cut their overhead and labor (more layoffs).
    2) Rich people and businesses will hide money in overseas accounts/locations. Businesses may even choose to close locations. (more layoffs)

    In the end, everybody loses! It's not a pretty picture. Let's all hope my predictions are wrong.
  • History repeats
    History does repeat itself for those of us old enough to have seen the cyclical nature of politics. Therefore, if it took 30 years for us to come back around to another "Jimmah Cartah" who is going to run our country almost completely flat into the ground, I should have another 30 years until the next empty suit takes office after this one gets run out of Dodge.

    Even the great uninformed who voted for him might eventually learn a lesson and not elect another idiot for 3 decades. We can only hope. And by then I will be 90 years old, living in a home and eating prunes every morning. Hopefully I won't even be aware mentally of another doofus who will be once again trying this socialist crap on us!

    As Patrick Henry said, "Give me liberty or give me death"! And at that point I will probably be much closer to death that to liberty!
  • Hugo!@
    Why are you such an idiot? Do you think Neal is the only one here that makes enough money to feel the effect of all this crap??? Oh sorry didn't know you were a burger flipper....
  • Where ya gonna go?
    Obama's doing a great job de-stimulating the economy. One can foresee a lot of companies moving offshore. And why not? There will be fewer incentives to operate here. The very wealthy may also decide to pull up states and move offshore. Many up and coming individuals will see the futility of trying to get ahead, since that will only mean that the government will take more of their hard earned dollars and redistribute “their” money to those who choose not to contribute. Oh yes, the dawning of this country entering 3rd world status is upon us. One funny aspect is all of the elitist East and West Coasters who voted for this empty suit will see “change they can believe in” when their net incomes and worth diminish. Is this a great country or not? Perhaps “not.”
  • Upside?
    On the upside, just think how clean the air quality is going to be as we walk to our government soup kitchen.
  • Layoffs
    More layoff's coming....from this. If you voted for Obama I am glad you lost your job. You deserve to.
  • I guess
    I guess people(the dumb ones) forgot what happened to the economy when Clinton pulled this stunt, and I guess they forgot what pulled us out of it.
  • Boortz-a-thon
    Folks, things are looking bad-Neal might have to pay 4% more in taxes under the Obama plan. At this rate, he will probably lose his houses, his cars and his airplane. I'm thinking there's a possibility he might even have to take a second job to feed his family. So here's my idea-instead of giving money to a bunch of kids with cancer every year during the WSB Careathon, his loyal listeners should start a Boortzathon for whiny underpaid talk show hosts. I mean, who's the achiever here? Some kid whose parents don't have a good enough health care plan to take care of their sick children or your hero, Neal Boortz? Show your love, people before Neal has to start brownbagging his lunch every day!
  • Sharing the Wealth
    "You cannot legislate the poor into freedom by legislating the wealthy out of freedom. What one person receives without working for, another person must work for without receiving. The government cannot give to anybody anything that the government does not first take from somebody else. When half of the people get the idea that they do not have to work because the other half is going to take care of them, and when the other half gets the idea that it does no good to work because somebody else is going to get what they work for, that my dear friend, is about the end of any nation. You cannot multiply wealth by dividing it."

    The late Dr. Adrian Rogers , 1931 to 2005, Former Pastor of Bellevue Baptist Church in Memphis , TN
  • Cahnge You Can't Believe Would Happen
    The one silver lining in the individual income tax increases is that all of the liberal voters who have more money than brains who voted for Obama in New England and California will get soaked and deservedly so for their stupidity.

    And Galt is quite correct. As a CPA/Controller, taxes will be passed onto consumers to the extent possible.
  • Tax The Rich
    What is going to happen when the rich decide to stay home and enjoy their money? Is the truck driver going to run the trucking company? I'm retired and I think I have lived through the best time of this country, I feel sorry for my grandchildren!
  • Tax increases
    Ladies and gentlemen, I give you Jimmy Carter v 2.0. Get ready to relive the 70's fellow babies.
  • Evil Businss
    Just to remind your readers: Business's have never nor will they ever pay tax's. They pass increased tax's on to the consumers of their goods or services as part of their cost. So in the end (no pun intended) the guy on the street pays. Individuals pay tax's, entities don't.
  • You forgot me
    I make a lot less than 250K but my own taxes are going up by 3 or 4 thousand a year because the Bush tax cuts will expire. And then there will be rampant infaltion from all the money Obama is printing. And the Cap and Trade will increase the costs of everything by 2012. So, although I make a mere 65K a year my taxes will go up and the cost of living will shoot up (because of Cap And Trade). In short I am preparing to lose ten or twelve percent of my income to Obama over the next couple of years. And that is if I keep my job.
  • The need for education?
    If the government is in charge now, why is there a need for education?
  • Fun Times Ahead
    Here we go, so get ready: gasoline prices, coal prices, natural gas prices soar with electricity taking off along with these energy prices. Look for Congress spend billions more giving low income Americans energy breaks on the backs of every working American. When energy reaches a critical point, then the federal government will introduce price caps and after the power companies begin to lose money, nationalization.

    Then we can add in the inflation caused by the higher business taxes being passed on to the consumer and the declining value of the over extended dollar, we have an economic disaster which will make our current recession look mild in comparison.
  • Sad to say, we're on our way ...
    Tax the bajeebers out of them evil corporations ... who will raise their prices to compensate for the difference, and we'll all pay through the nose.

    Let's go after the oil companies' profits. Let's increase those energy costs - after all everybody needs energy: heat, light, fuel to make the car go - and the truck that brings the groceries to the grocery store (oops, there went food prices). We've no alternative but to fork it over.

    He's hosing the very folks he's claiming to help. BOHICA!
  • Stupid
    Why in the hell would any oil companies do anything to expand drilling now with these anti-incentives???? We can forget about having domestic oil to reduce our dependence on Arab oil while working on other sources of energy. Asinine.
  • Tax who?
    We all know that rich Democrats don't have to pay taxes so are these figures based only on raising taxes on rich Republicans? I want to know what the tax loop holes are for Hollywood, media, and the millionaire politicians voting for this thing.
  • Taxes on business
    Won't miss LIFO. It is a pain to keep accurate and really does violate the Revenue Matching priciple.

    Won't miss Advance Earned Income Credit either. I don't like being a party to a fraud.
  • taxes
    Neal, talk about the tea parties going on around the country to protest Chairman O's insane tax increases! This needs to be covered and only Michelle Malkin has talked about it.

    Love you long time!
  • Corporations don't pay taxes
    Obama says if you make less that $200k ($250k for a couple) you won't see a tax increase. BS. Those taxes on businesses will be passed right on to you and me. You won't see it as a tax, but you'll wonder why the cost of...everything...has gone up so much since "The One" was elected. Its because he passed a stealth tax on the American people, disguised as a "business tax".
  • End of the Financial World
    Well I guess with all the tax increases the business model in the US is going down the toilet. All these businesses can move over seas and avoid these bone crushing taxes or they can do as always and pass them on the the consumer.
send to a friend  view as printer-friendly  RSS feeds
advertisement
advertisement
advertisement