Bok has this 100% correct!First, the Democrats conned the GOP into voting to pass TAX HIKES on “the rich” but as Dems celebrated, Obama and Democrats in congress promised TAX HIKES to lower tiers of taxpayers!-the Democrat-passed Obamacare and other legislation is already raising taxes BIG TIME! Much of the increased cost for medical devices and treatment will TRICKLE DOWN to patients and insurance companies.-Nothing done by the US Congress is “permanent”….
FOUR LOUSY PERCENT ON THE "RICH’ isn’t hardly a back-breaking attack, get real! (And “permanent” in Congress IS a bit of a joke, agree with your there dt.)
Par for the course with Bok. The analogy itself is offensive, equating the holocaust and losing ones life with requiring the wealthiest individuals to pay a slightly higher tax rate. Are there no intelligent cartoonists on the Right?
When ObamaCare fully kicks in everyone- including those earning less than $50,000 will have to pay.
If you totally confiscated all the wealth of the upper 1%, not just the 75% tax the liberals here fantasize, it still wouldn’t pay even one year’s 3-4 Trillion dollar budget. That money must come from the middle class paid by our grandchildren. Do the math.
Let me see if I understand your math. The total US GDP was $15.8T in 2012. If we tax the upper 1% at a 50% tax rate to fund our budget you are saying that they have a net “profit” of $8Trillion. Obviously that is impossible. Many companies have a 1-3% profit margin and the GNP is gross product including corporations. You are proposing that individuals, not corporations, net $8 Trillion. Suggest you redo the above comment.
Bottom line there is no system, no way we can fund a $4T budget via income taxes. Impossible.
disgustedtaxpayer over 11 years ago
Bok has this 100% correct!First, the Democrats conned the GOP into voting to pass TAX HIKES on “the rich” but as Dems celebrated, Obama and Democrats in congress promised TAX HIKES to lower tiers of taxpayers!-the Democrat-passed Obamacare and other legislation is already raising taxes BIG TIME! Much of the increased cost for medical devices and treatment will TRICKLE DOWN to patients and insurance companies.-Nothing done by the US Congress is “permanent”….
Dtroutma over 11 years ago
FOUR LOUSY PERCENT ON THE "RICH’ isn’t hardly a back-breaking attack, get real! (And “permanent” in Congress IS a bit of a joke, agree with your there dt.)
crlinder over 11 years ago
Par for the course with Bok. The analogy itself is offensive, equating the holocaust and losing ones life with requiring the wealthiest individuals to pay a slightly higher tax rate. Are there no intelligent cartoonists on the Right?
crlinder over 11 years ago
Sorry. I didn’t mean to repeat what you’d said. I posted before reading all of the comments.
Libertarian1 over 11 years ago
When ObamaCare fully kicks in everyone- including those earning less than $50,000 will have to pay.
If you totally confiscated all the wealth of the upper 1%, not just the 75% tax the liberals here fantasize, it still wouldn’t pay even one year’s 3-4 Trillion dollar budget. That money must come from the middle class paid by our grandchildren. Do the math.
Libertarian1 over 11 years ago
Let me see if I understand your math. The total US GDP was $15.8T in 2012. If we tax the upper 1% at a 50% tax rate to fund our budget you are saying that they have a net “profit” of $8Trillion. Obviously that is impossible. Many companies have a 1-3% profit margin and the GNP is gross product including corporations. You are proposing that individuals, not corporations, net $8 Trillion. Suggest you redo the above comment.
Bottom line there is no system, no way we can fund a $4T budget via income taxes. Impossible.