Don't sour American dream

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As year-end approaches, the fiscal cliff looms large ahead. Failure to resolve this economic dilemma may inflict financial hardship on many Americans. With this in mind, President Obama has announced his intention to raise the tax rates of the so-called “wealthy” citizens.

Rather than being a strategy, this is an unvarnished partisan salvo at a relatively small group of Americans who foot more than one-third of the country’s total tax bill. Objectively analyzed, such a tax hike would have little impact on the national debt but would remove billions of dollars from the private sector. There would be clear consequences for tax-targeted individuals.

First, they would have less to spend on durable goods and personal services, possibly resulting in fewer new hires and more layoffs. Second, they would have less after-tax income available for the capital investment essential for business growth. Third, they might make fewer or smaller donations to the philanthropic organizations that help the needy, affecting many for whom other forms of aid are insufficient or unavailable.

More critically, such a selective tax increase would cast a pall over the time-honored American dream. The essence of this dream is that, through diligence and perseverance, you can achieve financial success. This dream has become a reality for countless Americans of all races, creeds and national origins; its realization has helped the United States vault to the top of the world’s economic leaderboard.

If the politically motivated actions of our elected officials now cause the sweet smell of hard-earned financial success to turn sour, who will even want to dream the American dream in the future?

Lawrence Devoe

Augusta

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shrimp for breakfast
5456
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shrimp for breakfast 12/14/12 - 01:42 am
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Good letter Lawrence

I totally agree with you. i've been saying the samwe thing for a long time now.

specsta
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specsta 12/14/12 - 02:18 am
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Stop Picking On The Rich

Okay, let me get this straight - so if the rich are required to pay their fair share of taxes, they will spend less money on goods and services, less money to grow their businesses, and less money to donate to charities - well, we can't have that, can we???

I shudder to think of those tax-squeezed rich folks having to make do with a Mercedes instead of a Bentley, having to improve the products and services of their businesses in order to attract new customers, and having no extra funds to donate to $1000/plate "fundraisers" for some bogus charity.

What will the rich do? We can't have them eating regular meals like the common folk, nor can we have them spending a mere $500 on golf clubs, when a $6000 set of Majesty Prestigio's would be so much better. The rich have such a hard life. There's always food in the cupboard, gas in the tank, money in the checking account. If we increase their taxes, and make them pay their fair share, might they go into depression? What a cold, cruel world...

burninater
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burninater 12/14/12 - 04:32 am
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The repeated insistence that

The repeated insistence that a less-than-5 percentage point increase on non-exempt income in excess of $250,000 per year would discourage striving for success in America is hands down, I'm sorry, one of the least sensical claims I have ever heard an intelligent adult make.

"Fiscal cliff"? Nonsense. The economy is made by everyday Americans going about their business, not by the nepotists suckling at the teat of their purchased Congressmen. The wealthy creating this "fiscal cliff" messaging want to portray it as a pending calamity, because they know full well that the supermajority of American tax dollars goes into THEIR pockets. THEY don't want spending cut, because THEY'LL get hit.

The wealthy have been screaming at the top of their media empire lungs for years now. Guess what? They've made the majority of us deaf to their BS. Not blind though, mind you. We can see the historic record increase in wealth disparity that has occurred. We can see the blatant lie in all of the histrionics.

nofanofobama
6825
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nofanofobama 12/14/12 - 07:28 am
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the obumler uses the

the obumler uses the arguement that by cutting spending ie..govt spending it will hurt the economy because it will reduce jobs by taking monney out of the economy..but its ok to take money out of the economy thru higher taxes..what is the difference...the difference is that 80 percent of tax revenue goes to running the govt ..100 percent of extra spending by the rich goes straight into the economy..its straight pure envy and coveting of other peoples possesions that fuel the left..so those middle class jobs making mercedes are not important ..but making bentleys is noble..really????????????????

Fundamental_Arminian
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Fundamental_Arminian 12/14/12 - 07:49 am
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Specsta, what's unfair

about a flat income tax? The tithe in the Mosaic Law required 10 percent from everyone. What's unfair about that?

By the way, have you looked at Russia's uniform tax rates? They're much more attractive to entrepreneurs and businesses than our rates are. http://www.worldwide-tax.com/russia/russia_tax.asp

Yeah, Russia is open for business while we're closing up shop.

nofanofobama
6825
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nofanofobama 12/14/12 - 07:59 am
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the wealthy did not come up

the wealthy did not come up the name or cause the fiscal cliff...it was done by vote buying politicians on both sides of the aisle.but was magnified and mutiplied by obumleer and his cronies..it takes discretionary dollars by the rich to fund a growing economy..the middle class is needed to fund the economy but it will be static without the spending of 250 k class and above who create the real growth. ..i'm sorry if a poster here call us non sensical because we have a better understanding about the economy than his sources which probably includes msnbc, mother earth or whatever...

Jane18
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Jane18 12/14/12 - 08:39 am
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Mr.Devoe's Question

Who will dream the American Dream? I would say mostly illegals, undesirable people that do not love America--only what she has to offer, people wanting to commit illegal activites, I think you get the picture. Not much of a dream left for us...only nightmares! I know that it is going to be worse than it is now, for America, but, I also know it will not be forever..................

Humble Angela
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Humble Angela 12/14/12 - 09:10 am
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I keep seeing "fair share"
Unpublished

I keep seeing "fair share" and people saying that those who shoulder the highest amount of the taxes are somehow not paying their fair share, while those who receive EIC are. Where's the logic in this?

Techfan
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Techfan 12/14/12 - 09:11 am
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Some of the lowest tax rates

Some of the lowest tax rates since before WWll yet the "job creators" aren't creating jobs. Why? The lions share of monetary gains have gone to the top few percent. A declining middle class has killled demand. those at the top make millions by moving money around, not creating jobs, and in many cases (see Romney.Willard) more money is made by killing jobs, robbing pension, and closing factories instead of building them. We've about hit the wealth inequality of the 1920's and already had a great crash. The problem, then people saw that the problem was caused by those at the top. Social insurance programs were instituted, tax rates were adjusted so those who actually had money were the ones paying the taxes. Now we have some sap working for $25k a year supporting the wealthy instead of standing his ground. The good Old Confederacy, always vote against your best interests because you think those at the top actually give a darn about you. They don't, they'll happily ship your job overseas, dump poison in your water supply and in the air because it saves them a few bucks. Corporate profits at records, CEO pay at records, and the workers are struggling if they have a job at all. Yeah, they care about you a lot, just keep voting the same way they do and they'll help you out, really, they promise, they'll never lie to you. They'll wave to you from their yacht while they talking to their bankers in the Caymans. If you work hard, you won't get ahead, they'll just raise the production numbers.

Humble Angela
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Humble Angela 12/14/12 - 09:15 am
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Techfan....everything you
Unpublished

Techfan....everything you posted has NOTHING to do with what is fair. It has everything to do with "getting even" for what you deep injust. The top wealth earners are just that....EARNERS. Their money wansn't forcibly taken from the middle class and given to them, but your solution is to forcibly take it from them and give it to the middle class......and you talk about fair. Wealth envy is an ugly thing.

Humble Angela
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Humble Angela 12/14/12 - 09:20 am
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"The good Old Confederacy,
Unpublished

"The good Old Confederacy, always vote against your best interests because you think those at the top actually give a darn about you. "

I'm pretty sure the wealfare leeches don't care about me either....unless I stop paying taxes and supporting them. To them, voting their best interests means voting for the guy who promises to take money from successful people and giving it to them. The last election proved that definitivly.

Humble Angela
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Humble Angela 12/14/12 - 09:22 am
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I see term "wealth
Unpublished

I see term "wealth inequality" used often as well by many of the socialists. I never see it tied to "productivity inequality." I wonder why?

Fiat_Lux
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Fiat_Lux 12/14/12 - 10:52 am
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Some of you, and you know whom you are...

are completely missing the point, as usual.

Your indignation over other people's having wealth is a sure sign of your pitiful blindness about how things actually work economically.

What you don't appear to realize is that the whole purpose of Obamessiah's actions is to disable the United States economy so badly that the government ends up in control of everything, and therefore everybody. If he ruins everyone, then just like all the people who have grown up sucking at the taxpayers wallets, everyone will (supposedly) be forced into dependence on the government.

Then it will be a fairly simple matter to control those pesky people who continually point out the importance of the individual, and his inherent dignity and rights to live as he chooses. As an object lesson, look at what China is doing right now: it has told the Vatican it no longer recognizes a particular bishop as legitimate because he is not upholding the Chinese government philosophy (imagine that!) as they demand. Therefore, he is under house arrest and the Vatican is expected to appoint someone more to their (!) liking.

That kind of thing--and it won't just be persecution of Christians and Jews by any means--absolutely is coming if something doesn't intervene to stop this horrible traitor to our nation and his minions in what they are trying to foist upon us via the weenies who represent us.

We truly are in danger, and Dr. Devoe's letter is just scraping the surface of it.

Fiat_Lux
15424
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Fiat_Lux 12/14/12 - 10:50 am
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@Humble Angela

What did you have with your Cheerios this morning?

I want some of it.

dichotomy
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dichotomy 12/14/12 - 11:02 am
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Disappearing on purpose.

The "declining" middle class is declining because so many have decided to take the welfare "I don't have to work" path to permanent government subsidy. The wealthy did not TAKE people's money. The lazy, worthless welfare folks abdicated their position in the middle class and took the easy government money. There is finite wealth in the economy, regardless of how much money the FED prints. But if you want some wealth, you actually have to go out and compete for it. Unfortunately, the number of people who choose to NOT compete and take the welfare ARE the declining middle class.

The problem is not that the wealthy do not pay their fair share. They pay WAY more than their fair share. The problem is that the welfare folks want to LIVE like they are wealthy without hitting a lick at a snake when it comes to working for what they get. THEY are the ones who have brought this country to it's knees. They would love to blame the wealthy but the wealthy are not the problem. If you are looking for the reason for the disappearing middle class you should look at the ones who have chosen to disappear into the welfare mist because they are too lazy to work.

I imagine the "rate" of people disappearing from the middle class would closely match the "rate" of people who are getting on welfare and food stamps because the government keeps RAISING the income levels of what is considered poor in country. The wealthy are not pushing anyone out of the middle class. The government is cultivating the "poor" for political reasons. The disappearing middle class are gleefully making that leap to grab on to a government teat and screaming for the Democrats to turn on the pumps.

ultrarnr
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ultrarnr 12/14/12 - 11:43 am
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Living Large
Unpublished

Oh yeah, the middle class definitely wants to quit working and exist on welfare. It is so much fun trying to support a family on welfare benefits I take a 5:15 AM bus to work every morning and it is packed with people going to close to minimum wage jobs. Sure looks like they want to stay home and live the welfare dream. If I pay a little more in taxes and children don't go hungry and they get a shot at early childhood education, I say money well spent. The last election clearly stated that the majority of the country wants to maintain the safety net and invest in people so that our children all might enjoy a better country.

InChristLove
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InChristLove 12/14/12 - 12:23 pm
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2
The real issue is even if we

The real issue is even if we pay a little more in taxes, children will still go hungry, and still not get their early childhood education. For some reason people believe that if we gather a little more taxes, everything will be okay and that in some way gathering more will make our government responsible with the spending of it. We collect enough taxes already, government just don't know how to manage it responsibly.

allhans
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allhans 12/14/12 - 12:31 pm
3
3
Strange comments by some. I

Strange comments by some. I was reading comments on another forum that has some of these same liberals defending ultra-rich old white union bosses who prosper off the sweat of others - Yes... By force if necessary.

burninater
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burninater 12/14/12 - 02:41 pm
1
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the middle class is needed to

the middle class is needed to fund the economy but it will be static without the spending of 250 k class and above who create the real growth. ..i'm sorry if a poster here call us non sensical because we have a better understanding about the economy
------
The idea that a less than 5 point increase on taxation of non-exempt income over $250,000 will stifle or stop spending and investment of income above $250,000 is complete and utter non-sense. I'm sorry, but it literally makes no sense. It is entirely divorced from reality. No offense, but it really doesn't demonstrate a better understanding about the economy.

burninater
9583
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burninater 12/14/12 - 03:15 pm
2
2
What you don't appear to

What you don't appear to realize is that the whole purpose of Obamessiah's actions is to disable the United States economy so badly that the government ends up in control of everything, and therefore everybody. If he ruins everyone, then just like all the people who have grown up sucking at the taxpayers wallets, everyone will (supposedly) be forced into dependence on the government.
---------
Interesting way to try to flip the reality here. The Conservative movement has been obsessed with trying to dismantle the social safety net for decades. They would like to "starve the beast" -- their words, not the Left's -- to precipitate a funding crisis forcing the dismantling of social security and medicare. W played their hand with his attempts at social security privatization after the 2004 victory and surprise surprise, voters weren't on board.

The apparent alternative to starving the beast is the socialist control of all Americans as proposed by Fiat? That's an ... interesting way to view reality. Luckily the majority of Americans are interested in resolving our difficulties rather than engaging in the AM radio mass freakout.

justthefacts
21867
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justthefacts 12/14/12 - 03:16 pm
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Burn

Come on. GWB wanted to allow people to invest 2-4% of their payroll tax in private investment. Hardly evidence of his wanting to dismantle the entire program.

justthefacts
21867
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justthefacts 12/14/12 - 03:14 pm
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5% increase on <250K

That's only the beginning...

burninater
9583
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burninater 12/14/12 - 03:22 pm
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Is it "only the beginning",

Is it "only the beginning", JTF? Here's a thought: let's consider the ramifications of the specific reforms being considered rather than behaving as though passage of this reform necessitates an inevitable socialist apocalypse ala the Fiat Lux scenario.

This pushback against ANY reform, because there is an irrational fear that it will trigger some magical landslide of legislation and gov't takeover unlike any that preceded it, has gone beyond rational behavior.

justthefacts
21867
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justthefacts 12/14/12 - 03:33 pm
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Funny

"This pushback against ANY reform, because there is an irrational fear that it will trigger some magical landslide of legislation and gov't takeover unlike any that preceded it, has gone beyond rational behavior" You mean such as SS reform? Look at your previous comment regarding that. Reform means dismantle???

burninater
9583
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burninater 12/14/12 - 03:34 pm
1
2
Come on. GWB wanted to allow

Come on. GWB wanted to allow people to invest 2-4% of their payroll tax in private investment. Hardly evidence of his wanting to dismantle the entire program.
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Yes, you are absolutely correct. I've done the same thing the socialist apocalypsers and the just the beginningers do, and I didn't realize it. My apologies, and thanks for the wake-up on that one.

justthefacts
21867
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justthefacts 12/14/12 - 03:36 pm
4
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Only the beginning

I wonder if the Greeks ever thought their tax "reform" would reach 42% for anyone making the equvilent of $55K per year. I doubt it. They probably thought taxing the greedy ole rich folks instead of cutting gov't spending was a good idea too.

soitgoes
786
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soitgoes 12/14/12 - 06:33 pm
2
0
Amen!

Amen, amen. Again, I say, Amen!!

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