Obama: People who earn more are merely "Society's lottery winners"

[Ravi]

He was referring to the hedge fund loophole. That's it. You know an Acorn thread will have some sort of lie in the OP.

Nothing new here.

Yep.

"The top rate for wage earners is 43.4 percent. Many investment managers pay taxes at a 23.8 percent top rate, because their gains are counted differently in the tax code."

Obama Attacks Carried Interest Again to Shrugs in Congress - Bloomberg Politics

But the nutters on this thread think it is A OK to charge different people different tax rates.

I think carried interest should not be taxed as capital gains. Because, well, it's NOT capital gains and shouldn't be taxed as such.

But Obama reinforces the perception that Democrats think that success comes from luck, not hard work.

Sure, if you take his remarks out of context. There is a lot of luck in the fact that hedge funds are taxed at a lower rate.

 

[RKMBrown]

I think carried interest should not be taxed as capital gains. Because, well, it's NOT capital gains and shouldn't be taxed as such.

But Obama reinforces the perception that Democrats think that success comes from luck, not hard work.

All income should be taxed the same

If anything, income earned from hard work should be taxed at a lower rate

What if I have no income... and just live off billions in accumulated assets.

Then you get to be in the group deemed lottery winners.

But lottery winners pay the highest tax rate of all groups.

Not really. They get taxed at the same rate as working people. The analogy was more that lottery winners get something through dumb luck.

But you are correct, if you are simply living off of your assets and not earning income, you won't have to pay taxes.

Odd. Why should people that don't need income get away with not paying their fair share of the load each year for all these great things we are buying at the federal level?

 

[rightwinger]

He was referring to the hedge fund loophole. That's it. You know an Acorn thread will have some sort of lie in the OP.

Nothing new here.

Yep.

"The top rate for wage earners is 43.4 percent. Many investment managers pay taxes at a 23.8 percent top rate, because their gains are counted differently in the tax code."

Obama Attacks Carried Interest Again to Shrugs in Congress - Bloomberg Politics

But the nutters on this thread think it is A OK to charge different people different tax rates.

I think carried interest should not be taxed as capital gains. Because, well, it's NOT capital gains and shouldn't be taxed as such.

But Obama reinforces the perception that Democrats think that success comes from luck, not hard work.

All income should be taxed the same

If anything, income earned from hard work should be taxed at a lower rate

What if I have no income... and just live off billions in accumulated assets.

It's great being wealthy isn't it

 

[RKMBrown]

He was referring to the hedge fund loophole. That's it. You know an Acorn thread will have some sort of lie in the OP.

Nothing new here.

Yep.

"The top rate for wage earners is 43.4 percent. Many investment managers pay taxes at a 23.8 percent top rate, because their gains are counted differently in the tax code."

Obama Attacks Carried Interest Again to Shrugs in Congress - Bloomberg Politics

But the nutters on this thread think it is A OK to charge different people different tax rates.

I think carried interest should not be taxed as capital gains. Because, well, it's NOT capital gains and shouldn't be taxed as such.

But Obama reinforces the perception that Democrats think that success comes from luck, not hard work.

All income should be taxed the same

If anything, income earned from hard work should be taxed at a lower rate

What if I have no income... and just live off billions in accumulated assets.

It's great being wealthy isn't it

It is when being wealthy is one of the "protected" classes. The States with sales and property taxes seem to have figured out a way to make taxes fair. Just saying...

 

[Sallow]

President Obama referred yesterday to the wealthy as "society's lottery winners", as though the only reason they were wealthy is because they got lucky one time. No mention of years of training, hard work, risks, 20-hour workdays, failure, recovery, and eventual success.

It's just more of the same attempt to pretend there's nothing wrong with taking they money and resources from those who earned them.

Private people who do this are called "thieves", and are prosecuted and jailed as they deserve.

Public people who do the same are called "liberals", and are immune from the prosecution and jail terms they deserve.

--------------------------------------------------

Keying on poverty Obama suggests high earners hit lottery

Keying on poverty, Obama suggests high earners hit 'lottery'

By Angela Greiling Keane BLOOMBERG NEWS
Updated today at 4:03 a.m.

WASHINGTON -- Unless Democrats and Republicans can agree to raise taxes on the earnings of hedge-fund and private-equity managers, there is little chance the nation can make a meaningful dent in poverty, President Barack Obama said Tuesday.

Obama, whose long-standing proposal to raise taxes on what is known as carried interest has gained little traction in Congress, said fairness demands that the nation's wealthiest pitch in as more and more Americans are falling behind.

"If I were able to close that loophole, I'd be able to invest in early-childhood education," Obama said Tuesday. "If we can't ask from society's lottery winners to make that modest investment, then really this conversation is for show."

The president has often said the wealthiest Americans must make sacrifices to better life for poorer people. In addition to urging higher taxes for investment managers, he questioned whether the pay of some corporate chief executives is justified.

How does inheriting vast wealth qualify as "earning" something?

 

[Sallow]

Yep, anyone who has succeeded didn't earn that.

They were just walking along one day and BAM, they had all kinds o' money.

.

Not exactly.

It's more like they were born and bam..they are rich.

You know, like the Koch Brothers. Never "earned" a dime in their lives.

 

[Ravi]

All income should be taxed the same

If anything, income earned from hard work should be taxed at a lower rate

What if I have no income... and just live off billions in accumulated assets.

Then you get to be in the group deemed lottery winners.

But lottery winners pay the highest tax rate of all groups.

Not really. They get taxed at the same rate as working people. The analogy was more that lottery winners get something through dumb luck.

But you are correct, if you are simply living off of your assets and not earning income, you won't have to pay taxes.

Odd. Why should people that don't need income get away with not paying their fair share of the load each year for all these great things we are buying at the federal level?

They don't call them income taxes for nothing. Not sure how you propose to charge taxes on no income.

 

[Flash]

[

Maybe they want to eat. Have you noticed the price of food? As a multimillionaire, I have no problem affording food. As a matter of fact, I'm on the Rush Limbaugh diet plan (without the illegal drugs)......Private Chefs.

The best way for anybody to stay out of poverty is to not elect Left Wingers that have no idea how to produce an economy with jobs.

Instead the shitheads elect idiots like Obama that promises to give them free stuff (paaid for by other people) and then they wonder why the poverty rate is increasing and family income is decreasing.

Middle class workers making less is a Republican/corporate America accomplishment.

Every ill that effects/affects the middle class today can be directly shown as a Republican fail.

More people on welfare, more people at the poverty level and declining family income is an accomplishment of Obama's failed Left Wing economic policy of redistributing income rather than stimulating capitalism. You don't create prosperity by taking money away from the people that earned it and giving to the ones that didn't earn it, do you? Especially when it is given away to special interest groups of the Democrat Party like the filthy unions and the welfare queens.

Of course Obama wasn't hesitant to give taxpayer's money to failing corporations like GM, Chrysler and Solyndra, was he?

In general corporations provide millions of jobs in the country, provide tremendous goods and services, contribute significantly to the communities, pay almost a trillion a year in Federal corporate taxes and more in state and local but yet you Moon Bats declare that they are evil.

 

[rightwinger]

Yep.

"The top rate for wage earners is 43.4 percent. Many investment managers pay taxes at a 23.8 percent top rate, because their gains are counted differently in the tax code."

Obama Attacks Carried Interest Again to Shrugs in Congress - Bloomberg Politics

But the nutters on this thread think it is A OK to charge different people different tax rates.

I think carried interest should not be taxed as capital gains. Because, well, it's NOT capital gains and shouldn't be taxed as such.

But Obama reinforces the perception that Democrats think that success comes from luck, not hard work.

All income should be taxed the same

If anything, income earned from hard work should be taxed at a lower rate

What if I have no income... and just live off billions in accumulated assets.

It's great being wealthy isn't it

It is when being wealthy is one of the "protected" classes. The States with sales and property taxes seem to have figured out a way to make taxes fair. Just saying...

There is always "The Golden Rule"
He who has the gold, makes the rules

The wealthy have the political power and economic flexibility to minimize their tax burden regardless of what we do

 

[Redfish]

He was referring to the hedge fund loophole. That's it. You know an Acorn thread will have some sort of lie in the OP.

Nothing new here.

Yep.

"The top rate for wage earners is 43.4 percent. Many investment managers pay taxes at a 23.8 percent top rate, because their gains are counted differently in the tax code."

Obama Attacks Carried Interest Again to Shrugs in Congress - Bloomberg Politics

But the nutters on this thread think it is A OK to charge different people different tax rates.

I think carried interest should not be taxed as capital gains. Because, well, it's NOT capital gains and shouldn't be taxed as such.

But Obama reinforces the perception that Democrats think that success comes from luck, not hard work.

All income should be taxed the same

If anything, income earned from hard work should be taxed at a lower rate

What if I have no income... and just live off billions in accumulated assets.

It's great being wealthy isn't it

always has been, always will be. Its life, deal with it.

 

[Redfish]

I think carried interest should not be taxed as capital gains. Because, well, it's NOT capital gains and shouldn't be taxed as such.

But Obama reinforces the perception that Democrats think that success comes from luck, not hard work.

All income should be taxed the same

If anything, income earned from hard work should be taxed at a lower rate

What if I have no income... and just live off billions in accumulated assets.

It's great being wealthy isn't it

It is when being wealthy is one of the "protected" classes. The States with sales and property taxes seem to have figured out a way to make taxes fair. Just saying...

There is always "The Golden Rule"
He who has the gold, makes the rules

The wealthy have the political power and economic flexibility to minimize their tax burden regardless of what we do

people like Soros and the Clintons? Are you so stupid that you don't realize that there are more rich democrats and liberals than republicans and conservatives? Are you that stupid, RW?

 

[RKMBrown]

What if I have no income... and just live off billions in accumulated assets.

Then you get to be in the group deemed lottery winners.

But lottery winners pay the highest tax rate of all groups.

Not really. They get taxed at the same rate as working people. The analogy was more that lottery winners get something through dumb luck.

But you are correct, if you are simply living off of your assets and not earning income, you won't have to pay taxes.

Odd. Why should people that don't need income get away with not paying their fair share of the load each year for all these great things we are buying at the federal level?

They don't call them income taxes for nothing. Not sure how you propose to charge taxes on no income.

That's my point.. 1% for the most part are just accumulating assets, and they do that without much if any income by comparison. Thus, attacking the upper middle class by pointing at the wealth of the 1% ... yeah all that does is make it harder on the income bound upper middle class. You could tax income at 95% and all you will do is further separate the middle class from the upper class.

 

[RKMBrown]

I think carried interest should not be taxed as capital gains. Because, well, it's NOT capital gains and shouldn't be taxed as such.

But Obama reinforces the perception that Democrats think that success comes from luck, not hard work.

All income should be taxed the same

If anything, income earned from hard work should be taxed at a lower rate

What if I have no income... and just live off billions in accumulated assets.

It's great being wealthy isn't it

It is when being wealthy is one of the "protected" classes. The States with sales and property taxes seem to have figured out a way to make taxes fair. Just saying...

There is always "The Golden Rule"
He who has the gold, makes the rules

The wealthy have the political power and economic flexibility to minimize their tax burden regardless of what we do

Regardless? Nonsense.

 

[Mac1958]

Amazing how many millions of hard working people have to be ignored when tossing out the "life's lottery" bullshit.

Yeah, some lucked into it. The rest busted their ass, and they're being insulted by this ignorant crap.

.

 

[Sallow]

[

Maybe they want to eat. Have you noticed the price of food? As a multimillionaire, I have no problem affording food. As a matter of fact, I'm on the Rush Limbaugh diet plan (without the illegal drugs)......Private Chefs.

The best way for anybody to stay out of poverty is to not elect Left Wingers that have no idea how to produce an economy with jobs.

Instead the shitheads elect idiots like Obama that promises to give them free stuff (paaid for by other people) and then they wonder why the poverty rate is increasing and family income is decreasing.

Middle class workers making less is a Republican/corporate America accomplishment.

Every ill that effects/affects the middle class today can be directly shown as a Republican fail.

More people on welfare, more people at the poverty level and declining family income is an accomplishment of Obama's failed Left Wing economic policy of redistributing income rather than stimulating capitalism. You don't create prosperity by taking money away from the people that earned it and giving to the ones that didn't earn it, do you? Especially when it is given away to special interest groups of the Democrat Party like the filthy unions and the welfare queens.

Of course Obama wasn't hesitant to give taxpayer's money to failing corporations like GM, Chrysler and Solyndra, was he?

In general corporations provide millions of jobs in the country, provide tremendous goods and services, contribute significantly to the communities, pay almost a trillion a year in Federal corporate taxes and more in state and local but yet you Moon Bats declare that they are evil.

It's amazing that in just one post you contradict your own points multiple times.

 

[Flash]

Amazing how many millions of hard working people have to be ignored when tossing out the "life's lottery" bullshit.

Yeah, some lucked into it. The rest busted their ass, and they're being insulted by this ignorant crap.

.

Crap like that from the Libtards is nothing more than class warfare.

It is justification for stealing money from the people that make it and giving it to the people that didn't earn it. That is the foundation for socialism. Everybody is entitled to the same amount regardless of productivity. That mindset has bankrupted countries by the way. The Libtards are pushing for it to bankrupt this country.

 

[Ravi]

Then you get to be in the group deemed lottery winners.

But lottery winners pay the highest tax rate of all groups.

Not really. They get taxed at the same rate as working people. The analogy was more that lottery winners get something through dumb luck.

But you are correct, if you are simply living off of your assets and not earning income, you won't have to pay taxes.

Odd. Why should people that don't need income get away with not paying their fair share of the load each year for all these great things we are buying at the federal level?

They don't call them income taxes for nothing. Not sure how you propose to charge taxes on no income.

That's my point.. 1% for the most part are just accumulating assets, and they do that without much if any income by comparison. Thus, attacking the upper middle class by pointing at the wealth of the 1% ... yeah all that does is make it harder on the income bound upper middle class. You could tax income at 95% and all you will do is further separate the middle class from the upper class.

But that isn't what this thread is about. It is about taxing hedge fund revenues at a lower rate than everyone else gets taxed at.

 

[Flash]

[

Maybe they want to eat. Have you noticed the price of food? As a multimillionaire, I have no problem affording food. As a matter of fact, I'm on the Rush Limbaugh diet plan (without the illegal drugs)......Private Chefs.

The best way for anybody to stay out of poverty is to not elect Left Wingers that have no idea how to produce an economy with jobs.

Instead the shitheads elect idiots like Obama that promises to give them free stuff (paaid for by other people) and then they wonder why the poverty rate is increasing and family income is decreasing.

Middle class workers making less is a Republican/corporate America accomplishment.

Every ill that effects/affects the middle class today can be directly shown as a Republican fail.

More people on welfare, more people at the poverty level and declining family income is an accomplishment of Obama's failed Left Wing economic policy of redistributing income rather than stimulating capitalism. You don't create prosperity by taking money away from the people that earned it and giving to the ones that didn't earn it, do you? Especially when it is given away to special interest groups of the Democrat Party like the filthy unions and the welfare queens.

Of course Obama wasn't hesitant to give taxpayer's money to failing corporations like GM, Chrysler and Solyndra, was he?

In general corporations provide millions of jobs in the country, provide tremendous goods and services, contribute significantly to the communities, pay almost a trillion a year in Federal corporate taxes and more in state and local but yet you Moon Bats declare that they are evil.

It's amazing that in just one post you contradict your own points multiple times.

Absolutely no contradictions.

Obama has screwed up the economy of this country.

Libtards hate corporations unless they can get something out of them.

Welfare, subsides and bailout are always bad things.

Corporations are good for this country but should never be subsidized by the government.

Your inability to understand the points is not my problem. Most Moon Bats have a difficult time understanding most things. They are very confused.

 

[Ravi]

Amazing how many millions of hard working people have to be ignored when tossing out the "life's lottery" bullshit.

Yeah, some lucked into it. The rest busted their ass, and they're being insulted by this ignorant crap.

.

They must be overly sensitive, then. Maybe we need a new PC law!

 

[RKMBrown]

But lottery winners pay the highest tax rate of all groups.

Not really. They get taxed at the same rate as working people. The analogy was more that lottery winners get something through dumb luck.

But you are correct, if you are simply living off of your assets and not earning income, you won't have to pay taxes.

Odd. Why should people that don't need income get away with not paying their fair share of the load each year for all these great things we are buying at the federal level?

They don't call them income taxes for nothing. Not sure how you propose to charge taxes on no income.

That's my point.. 1% for the most part are just accumulating assets, and they do that without much if any income by comparison. Thus, attacking the upper middle class by pointing at the wealth of the 1% ... yeah all that does is make it harder on the income bound upper middle class. You could tax income at 95% and all you will do is further separate the middle class from the upper class.

But that isn't what this thread is about. It is about taxing hedge fund revenues at a lower rate than everyone else gets taxed at.

lol heh.. You know the tax cuts on the filthy rich ended right?