arty:This was bumped off the first page courtesy of Spammy the Pig, but it's must read for any sane individual who cares about the future economic health of this country...
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http://www.liberallyconservative.com/?p=2427
Obama’s Social Security On Steroids - SOCIALISM!
by Liberally Conservative @ 9:22 am. Filed under Politics, Elections, Taxes, Govt. Regulation
Social Security was a bad plan by FDR and it’s here to stay because American’s were given a form of welfare, have come to rely on it and the government can dip into its coffers for other programs that politicians wish to grow.
Barack Hussein Obama will place the Social Security system on steroids, growing it exponentially and turning it into a full-fledged welfare system.
Mr. Obama has proposed applying the Social Security tax to incomes above $250,000, in addition to the current tax on incomes up to $102,000. Obama claims it’s unfair for middle-class earners to pay Social Security tax on “every dime they make” while the very rich pay on “only a very small percentage of their income.”
We never said Barack Obama has any economics background or simple logic for that matter. Here are the facts against the illogic of Obama:
* Earners with incomes of $100,000 pay Social Security payroll tax on every dime they earn;
* Earners with incomes of $250,000 pay Social Security payroll tax on 41% of their income;
* Someone making $10,000,000 would pay on 98.5% of his or her income. Only 3% of workers make more than a quarter-million dollars.
Where’s the economic principle or theory of tax law with Obamanomonics? It doesn’t exist!
The fundamental principle of tax and benefits in the Social Security system is benefits are calculated against the income taxes. FDR and his actuaries weren’t planning on longer life spans and the reality of having to payout what was paid in. It’s back to the Liberal fuzzy math theory. FDR probably wasn’t planning on the Social Security piggy bank to be robbed and then replenished and then bankrupted by greedy politicians.
Logic was never applied to Social Security because it’s provides a meager return on taxes against earnings and is “forced” savings without a decent return. FDR called Social Security:
“A base upon which each one of our citizens may build his individual security through his own individual efforts.”
hno:
What Social Security amounts to is tax, tax, tax and more tax with no investment return because it never was an investment to begin with and was forced upon citizens until they came to rely on it for a retirement without taking personal responsibility for their own nest egg. We call that Socialism, not “Security”.
The biggest disaster of the Obama Social Security Socialism plan is the huge effect it would have on entrepreneurs, the economic engines, job producers and individuals who expand business.
An entrepreneur with a taxable profit from his business of $500,000 under current law would pay $27,148 in Social Security and Medicare taxes, plus $142,969 in personal income taxes, for a total of $170,117.
If the taxpayer did not change his behavior at all, under the Obama plan he would face a $31,000 Social Security tax hike and an $11,494 hike in his personal taxes – or a 25% tax hike.
But, if the taxpayer responds as the economic models predict, his taxable profit would drop to $444,000. His Social Security and Medicare tax bill would still soar to $51,580. But his income taxes, even with a higher tax rate, would drop to $132,882 for a total of $184,462. (Source: Lawrence Lindsey at WSJ)
Obama’s plan would virtually bankrupt the average entrepreneur by lowering the production capacity because the business person would have less to reinvest for expansion, layoff employees and possibly go out of business.
Entrepreneurs respond to incentives and the Obama plan provides the inverse, disincentives, providing no motivation to expand and taking the money away that is available to grow a business and the US economy.
Take away 10% of a high earner’s after-tax income at the margin, that person will cut their taxable income by at least 4%. At the margin, this taxpayer now takes home 62.3% of his earnings, a figure that will drop to 47% under the Obama plan. According to the economics rule of thumb, the model entrepreneur’s taxable profit would drop by 11.2%.
Barack Hussein Obama stands to the far left next to Vladimir Lenin.
Indeed!
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http://www.liberallyconservative.com/?p=2427
Obama’s Social Security On Steroids - SOCIALISM!
by Liberally Conservative @ 9:22 am. Filed under Politics, Elections, Taxes, Govt. Regulation
Social Security was a bad plan by FDR and it’s here to stay because American’s were given a form of welfare, have come to rely on it and the government can dip into its coffers for other programs that politicians wish to grow.
Barack Hussein Obama will place the Social Security system on steroids, growing it exponentially and turning it into a full-fledged welfare system.
Mr. Obama has proposed applying the Social Security tax to incomes above $250,000, in addition to the current tax on incomes up to $102,000. Obama claims it’s unfair for middle-class earners to pay Social Security tax on “every dime they make” while the very rich pay on “only a very small percentage of their income.”
We never said Barack Obama has any economics background or simple logic for that matter. Here are the facts against the illogic of Obama:
* Earners with incomes of $100,000 pay Social Security payroll tax on every dime they earn;
* Earners with incomes of $250,000 pay Social Security payroll tax on 41% of their income;
* Someone making $10,000,000 would pay on 98.5% of his or her income. Only 3% of workers make more than a quarter-million dollars.
Where’s the economic principle or theory of tax law with Obamanomonics? It doesn’t exist!
The fundamental principle of tax and benefits in the Social Security system is benefits are calculated against the income taxes. FDR and his actuaries weren’t planning on longer life spans and the reality of having to payout what was paid in. It’s back to the Liberal fuzzy math theory. FDR probably wasn’t planning on the Social Security piggy bank to be robbed and then replenished and then bankrupted by greedy politicians.
Logic was never applied to Social Security because it’s provides a meager return on taxes against earnings and is “forced” savings without a decent return. FDR called Social Security:
“A base upon which each one of our citizens may build his individual security through his own individual efforts.”
hno:What Social Security amounts to is tax, tax, tax and more tax with no investment return because it never was an investment to begin with and was forced upon citizens until they came to rely on it for a retirement without taking personal responsibility for their own nest egg. We call that Socialism, not “Security”.
The biggest disaster of the Obama Social Security Socialism plan is the huge effect it would have on entrepreneurs, the economic engines, job producers and individuals who expand business.
An entrepreneur with a taxable profit from his business of $500,000 under current law would pay $27,148 in Social Security and Medicare taxes, plus $142,969 in personal income taxes, for a total of $170,117.
If the taxpayer did not change his behavior at all, under the Obama plan he would face a $31,000 Social Security tax hike and an $11,494 hike in his personal taxes – or a 25% tax hike.
But, if the taxpayer responds as the economic models predict, his taxable profit would drop to $444,000. His Social Security and Medicare tax bill would still soar to $51,580. But his income taxes, even with a higher tax rate, would drop to $132,882 for a total of $184,462. (Source: Lawrence Lindsey at WSJ)
Obama’s plan would virtually bankrupt the average entrepreneur by lowering the production capacity because the business person would have less to reinvest for expansion, layoff employees and possibly go out of business.
Entrepreneurs respond to incentives and the Obama plan provides the inverse, disincentives, providing no motivation to expand and taking the money away that is available to grow a business and the US economy.
Take away 10% of a high earner’s after-tax income at the margin, that person will cut their taxable income by at least 4%. At the margin, this taxpayer now takes home 62.3% of his earnings, a figure that will drop to 47% under the Obama plan. According to the economics rule of thumb, the model entrepreneur’s taxable profit would drop by 11.2%.
Barack Hussein Obama stands to the far left next to Vladimir Lenin.
Indeed!
Consider this young grasshoppers...
It took a Carter to get a Reagan.
Worst case scenario...we buckle down for 4 years before another 25 year run of prosperity.
And it will be fun blaming EVERYTHING on Obama. The weather, terrorist attacks, Iraq...EVERYTHING.
It's easy to sit on the sidelines and bitch...we just forgot...the Dems have been on the sidelines forever. :lol:
It took a Carter to get a Reagan.
Worst case scenario...we buckle down for 4 years before another 25 year run of prosperity.
And it will be fun blaming EVERYTHING on Obama. The weather, terrorist attacks, Iraq...EVERYTHING.
It's easy to sit on the sidelines and bitch...we just forgot...the Dems have been on the sidelines forever. :lol:
Cool. Four years of President Obama and then we can have an aged, senile non-Christian, Republican President who steadfastly refuses to stand up to a spend-happy Congress and who leaves office with the biggest federal deficit (up to that point) in the history of the USA.
Raise a glass to Faux Conservatism!
(wondering if that new Repub President elected in 2012 will make his own scheduling decisions or if he will have his wife consult her SoCal astrologer for direction on how to plan his day)
Raise a glass to Faux Conservatism!
(wondering if that new Repub President elected in 2012 will make his own scheduling decisions or if he will have his wife consult her SoCal astrologer for direction on how to plan his day)
MJ, Husseini Obambi can fuck the courts for a generation -- that's my greatest fear. That and national security.
On the other hand, the argument many conservatives make is this:
We had the House and Senate for 12 years, 5 out of the last 7 presidents...and we STILL have 5 bloody liberal judges on the SC. Roe is still with us, government has never been bigger....what do conservatives have to show for all their blood, sweat and tears?
My priorities are simple:
Win the war.
Confirm the judges.
Cut taxes.
Cut spending.
Seal the border.
Easy.
If McCain can deliver on even 3 of those, I'll be doing cartwheels.
What I do know is Obambi will fail on every count and this makes him UNACCEPTABLE. Obambi is a quasi-Marxist and has absolutely NOTHING to offer me -- NOTHING.
It's money well spent if it keeps Obama from doing anything he wants to do.
Pile a little more on and stick it to him good. LOL...
:lol:Give him the same pile of shit Clinton left for Bush. In fact...give him a bigger pile.
Can you name a single bill proposed by any sitting Democrat that attempted to reduce the debt?
I have a 4 monitor system, with two paid assistants...and multiple proxy servers to maintain both identities...and still hide it all from wil.
It aint easy...but I'm collecting that bet from thejdog...or bust.
When Carter was destroying the nation, Reagan was waiting in the wings - many of us knew his value and were biding our time until the next election.
There's no Reagan waiting out there and there's no real Republican party with Republican values out there - there are socialist big government, big spending Democrats and capitalist big government, big spending Democrats who call themselves Republicans, but no there are no real Republicans.
All of us who believe in a market economy, and traditional American and family values are well and truely fukked! :smoking:
Go easy KB.
Instead, remind Mark that this is primarily a sports handicapping forum and refresh the boy's memory of what that entails
BASEBALL - aka The Great American Pastime. Learn more by watching the teams in your area Mark - such as the Texas Rangers and the Houston Astros
FOOTBALL - The National Game. Teams in your area include The Dallas Cowboys, Houston Texans and a bevy of college teams including the Texas Longhorns.
BASKETBALL - The sport played by mostly Real Tall Guys. Your region has the Houston Rockets, the Dallas Mavericks and four time world champion San Antonio Spurs
In a sports handicapping forum, you can use your powers of forecasting and predict the outcomes of future sporting events! But it helps to at least watch a game in between spanking it to Ann Coulter or logging time on other cyber forums posing as an avowed Liberal to counter your rabid faux conservative caricature portrayed here at the Rx.
Raise a glass to the Cyber Big Tent!
