House Dems want to tax the rich for health care

Democrats want to tax the rich,what is that group any one making over $33,000

brilliant idea. this should force major earners out of the US. the rest of us control our income using trusts and tax shelters. i can see a surge in "ghost employees" too. give it your best shot uncle sam; we know all the tricks.

One in ten people in this country are unemployed. Eighteen percent of US citizens under age 65 had no health insurance (2007). Our fellow citizens are living in tents, motels and under bridges. This includes families with children. Unemployment insurance is running out for millions who just cannot find jobs.

And my heart is supposed to bleed for someone blessed enough to be living in the United States and making $350k a year? Really?

You might if they pull up stake and leave.

What we need is a balanced approach. But the current witch hunt for anyone "rich" is blinding us.

Great idea! I am tired of working for a small business owner anyway! They incorporporate this tax and they will put one more burden on employers. Now they are considered "rich" because a couple of dump trucks, a front end loader, a couple of skid steers, a small piece of property with a buildingon it, and bango, they are rich!

Small business owners have to claim the value of the company on their taxes, they may be only bringing in a small salary but he value of their company puts them into a much higher tax bracket. That higher tax bracket will raise their taxes and those higher taxes will have to come out of their pocket, added to the overhead. These higher taxes will drive up their costs and their ability to compete with larger companies that can absorb the costs and spread the addition expenses over a larger number of jobs will be gone. They will be unable to hire new people because the burden will be too great, so much for creating new jobs. If they opt to not provide health insurance, because remember, the govt is not going to a single payer program, they have said that they simply plan on offering competition, then they will not be able to compete for the quality employees because they will not be able to offer the premium benefits.

Here is a thought, how about make the rich pay the same percentage as the rest of us? Close the loopholes? Go to a flat tax? Oh that is right, that will take away the whole class envy angle and what will they have left as leverage to pit one against another?

Excellent idea! Maybe they miscalculated this one also?

You do know that some of these people have worked the ass off for their income while others feel intitled and stick their hands out right? Why is it the people who have busted butt's responsibilty to support those who choose to keep popping out babies and sit around or even have babies to collect more monies? You know I have worked for everything I have and payed back student loans to get somewhere. I could not get grants. I was a single mom who was offered assistance but declined because my ass believes in good honest hard work. I pulled tobacco and worked fast food. The people who feel that they can sit back for a free ride HAVE NO SHAME! You are worthless!

Why tax the rich? Willie Sutton, the bank robber, would have said "because that is where the money is". The upper 2% own almost everything. No one else has any money in this country. We are all working or consuming for them.

Considering that the rich have lived off of the coffers of the middle class for the last 30 years, why is this a problem?

Grow up, people.

We are adults.

Let's practice the fairness that we impress upon our preschool children.

no KATHLEEN54; 10% are receiving unemployment benefits. unemployment rates don't count those who have expired benefits; the disabled; the elderly; the young; the lazy; the drug dealers who don't pay taxes; the sick; those who haven't worked long enough to qualify for unemployment benefits; those who don't qualify because they were terminated for attendence, etc; illegal aliens; and my favorite; those who've had their hours cut making them part time employees and not elligible for full time benefits. and we can't forget those who've never worked and therefore don't qualify for benefits. i'm sure i forgot to list many more but you get the idea.

Play Nice,

You do realizet that 1% is only $3,500 and they will be taxed on profit, not revenue or their buisness net worth like you were talking about. I highly doubt that someone who is making $350,000 in profit losing $3,500 is going to make him start laying off employees, $346,500 is still a lot of money.

Thank you Brad. Some of these people are absolutely uncomprehendable. $3500 is less than their loopholes are worth. If they want to move over seas that is fine, their income generated here is taxed before it goes over to them. If they close, then someone will start a business to take their place that has a soul and morals. These heartless SOBs can leave anytime they want to.

As for this money going to deadbeats, get your facts straight. The 47 million Americans without coverage are working. The "deadbeats" as you call them are on medicare and medicaid.

House Dems want to tax the rich for health care

Of course they do! Stealing from Peter to pay Paul!

Did Mr. Rangel sorted it out his own taxes troubles?

Charity begins @ home.

One in ten people in this country are unemployed. Eighteen percent of US citizens under age 65 had no health insurance (2007). Our fellow citizens are living in tents, motels and under bridges. This includes families with children. Unemployment insurance is running out for millions who just cannot find jobs.

And my heart is supposed to bleed for someone blessed enough to be living in the United States and making $350k a year? Really?

The problem with that statement, and what these yahoos that want to pass this don't see, is that the economy is already bad, raising taxes on these people will put more people into the ranks of the unemployed because those rich people you don't give a crap about employ the not-so-rich, and the less money they have, the less money they invest in their businesses. With investment in American business alreay at a stop, and no commercial construction on the horizon, that just drains more capital out of the economy. We'll all be covered, but there won't be anyone working in the private sector to tax so we can pay for our medical bills. This is a vicious cycle.

How is losing 1% of their profit going to hurt so many jobs? Also, because of loopholes the rich pay a smaller percentage than we do which is wrong. Like I said in 1.10 $3,500 is not going to cost jobs.

There is no rich in small business. They make money and are in tune with employees to give them over half. If a small business makes $500K most likely they spend $200K in reinvesting...do the math.

The rich are in big business and that is why they are supportive of policy. They can afford a small expense like health care while the small business drowns. Your 70% employer.

TMF you are on the nose.

I was just layed off after almost 9 years with the most generous, kindest Employer I have ever had the privilige of working under. We were about 55 total internal and external. He took us umpteen times to restaraunts that the minimum per perswon would cost 50.00. He threw Holiday Parties at the nicest of Hotels and always set out a good table for the company picnics.

He provided Bagels, Fruit and Veggies at our staff meetings and every so often would treat us by ordering in some Persian Food or Baja Fresh for an office face stuff.

The raises attempted to keep up with inflation. He kept exotic birds in the building for people to enjoy. He never let a customer bully one of his employees thinking that the boss would have rather have the business then care about the employees issues and often told clients were to go for disrespecting his employees.

When things started getting bad in January he froze all future salary considerations but finally I guess he had to make a choice and my being Operations Support meant that they would have to redelegate my duties to other people.

I was let off at the beginning of June and he covered my insurance till the end of the month and gave me severance which he was legally not obliged to.

He earned everyones loyalty a hundred times over every day and we would do anything for him, and when he said his door was always open to us it was no idle statement.

He is rich alright, rich in love and care for his fellow human beings working under his roof.

Put more taxes on someone like him? Go to hell.

That 200k they reinvest is not profit then and won't get taxed.

Your boss obviously doesn't make over 350k so he would be fine.

How is losing 1% of their profit going to hurt so many jobs? Also, because of loopholes the rich pay a smaller percentage than we do which is wrong. Like I said in 1.10 $3,500 is not going to cost jobs.

This is in addition to the raise on their taxes he's already promised. Look around, check out the "for lease" signs up in all the windows. All those businesses are gone, and there are no new ones on the horizon, so sales of durable goods are plumetting. It's a vicious cycle. Tear down the existing businesses and people who've made their money. These are people who saved, worked hard and invested. Now, he's going to take the money from them, and dump it on healthcare so those who don't save, who don't necessarily work that hard, and who don't invest have a little extra spending money. It's not going to help the economy, it's going to tear it down even further. And you may applaud that those people will "finally have healthcare" but at the same time you're putting more people out of work and burdening the social services with the unemployed.

Why is it the people who have busted butt's responsibilityresponsibilty to support those who choose to keep popping out babies and sit around or even have babies to collect more monies?

Exactly, like Bristol Palin and her Baby. BTW, you remember she the daughter of Sarah Palin, the 2008 Vice President Contender for the Republican Party.

Bristol Palin will be leeching off the taxpayers of the United States and Alaska, the daughter of Ultra Right Wing Neoconservative Republicans, Sarah Palin.

BTW, Palin's family been leeching off Taxpayers too.

My guess, it Ok to make exception for them since they are Ultra Right Wing Neoconservative Republicans.

Lastly, if you go to the South. You see lots of Ultra Right Wing Neoconservative Republicans benefiting from Democrats liberal programs. I don't see them tea parties turning money down. I don't see struggling Ultra Right Wing Neoconservative Republican turning seniors or unemployed or whatever turning down government money.

My guess, you do not want those other people to to take government aide. You know, those OTHER PEOPLE. The people Ultra Right Wing Neoconservative Republicans fear so much.

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

BTW, if your wealth person or corporation. It easier to manipulated Government and it politicians to benefit them. Thus, they been manipulating Government to their benefit allow them to leech of Middle and Poverty Class for last 30+ years. They love having Republicans in power, it take less effort to pull their strings like the last 8 years.

When I here this:

the rich have lived off of the coffers of the middle class

I just have to laugh.

The Government has been living off the coffers of the middle class, and no one seems know or care.

Everytime the Rich get taxed, the middle class pay.

Fred,

The buisness owner who is having trouble keeping his buisness afloat is not going to be affected by this. People keep ignoring the fact that profits will get taxed, not revenue or net worth. And just because you don't make enough money to afford health insurance on your own does not mean you are lazy. There are a lot of labor intensive jobs out there that don't pay @!$%# and don't cover very much of the premium on health insurance. I know this because before I got out of college I had one of those jobs.

So you say this is on top of the taxes already being raised. So lets say there taxes go up a total of 3%. That is $10,500 more a year in taxes they will pay. Subtract that from $350,000 and the buisness owner still makes $339,500 in PROFIT. That means after paying all the bills, all the employees, replenishing stock, upgrading equipment, buying a new building, etc. he still has $339,500 in the bank from that year alone. Not to mention if this person was covering part of a health insurance plan they can recoupe that money by dropping company insurance and letting the employees get on the government plan and it probably won't cost the employee any more money because of the size of the insurance pool they will join.

I think it is a very sad thing when people think you only deserve healthcare if you can afford it. Otherwise just go in the corner and die quietly so you don't disturb me.

House Dems want to tax the rich for health care

That's a pretty dumb title. Who else will you tax? The poor?

Exactly Brad. This only takes from profits, not from paying payroll. So the example above from the guy who worked for the best boss ever who only had 55 workers must have actually been working for quite a greedy pig boss if he laid people off to recover the 10,500 a year in lost PROFIT (not net worth). Why would you defend someone who you imply would actually axe YOUR entire salary to make profit that doesn't even match your salary... in other words who is only getting richer by firing you? I think you are telling the wrong person to go to hell Meturaf. Anyone who tells you this scenario is the result.... that's who you should be talking to. Which must be your former boss I suppose. Although I'm sure there were other factors besides a 3% tax hike on him since he was a nice guy, right? Is he nice enough to prove it and show his books? Because I bet the "rich" hit here who are complaining would tell YOU to go to hell if you asked to see.

Do you people even read. The surtax is on individuals not businesses. The 1% would be for those earning $350k or more. Where the hell did profits come into play?

And Brad, please please please read the tax code. Based on IRS stats the top 2% pay an effective tax rate of 19.2% while the bottom 50% pay and effective tax rate of 2.9%. So I am not quite sure what loopholes you are referring to.

Most loopholes relate to busineses not individualts. The AMT curred most of that.

Also don't confuse net worth with income. Taxes are not paid on net worth. At least not until you die. And then the first $2m is exempt which eliminates all but the top 5%). The top 2% may control most of the wealth but they don't control most of the taxable income. That dubious position is held by the Middle 50%.

Which is why you could tax the top 2% at a 100% effective rate and not raise enough money to cover all of Obama's spending, oh I'm sorry, restructuring projects.

HE HAS TO TAX THE MIDDLE CLASS. He knows this and his advisors know this.

Profits came into play because a "small business owner", certainly as portrayed by posters saying it will kill small business owners at any rate, would have his profits AS his income. Which means loopholes, business or not, most certainly do matter.

Not to mention, even if you look at it like you are... that isn't going to make the "middle class" suddenly have 350,000 in income and be taxed more. If it did we should definitely enact it now! I wouldn't mind paying the new tax!

that just drains more capital out of the economy.

Wrong, Fred. This will redistribute the wealth that is siphoned away from those who own everything.

If someone's profit goes below the magic $350k number, then they don't have to pay. Those lucky enough to be making that much, will.

The health care isn't needed and stop giving our money way to other countries you wouldn't needs to tax anyone period.

We can afford our health care if the government would give everyone a tax credit this would take care of it.

Really....HOW are we and would we 'stop giving our money away to other countries' and HOW would a tax credit 'take care of health care'? Explain please.

It is the pure brain washed nonsense of the right wing on tax cuts.

Give tax cuts to the ultra wealthy and that will provide health care for the middle class and needy.

Sure...

Its not like we haven't seen the past tax cuts for the wealthy just used to further enrich themselves with no benefit to society or the economy as a whole. Plus, they use it to just push the middle class further down.

I spend 92K on charities every year. I spend 104K on health care each year for my employees...(believe me my network lowers it so I can pay to all 400, but it is expensive). I do the dinners and love to give back to my employees as much as possible. I love my employees and their families so much!! I love my company! I pay myself 100K my next down the line makes 89K.

However, my company makes over 500K. 250K goes to reinvestment I have to pay 360K to cover taxes. THAT IS WHERE AMERICA IS MISLEAD!!! I complain to myself why I have to pay 8% for social security on a piece of equipment then back it up with the employer part of 8% on top of Federal income tax, followed by state income tax, followed by my litter tax, syrup tax, and sales tax. Not to mention minimum wage will go up in a few days costing me to cut over 30 more jobs.

So now I will cut reinvestment (less manufacturing of equipment/construction) and less jobs (higher unemployment)

Where are we being lead people? I have written to my Congress People, but they do not listen.

"Rich" is ambiguous, and a moving target. Just what is rich?

Whatever I need it to be to raise the funds necessary to expand Government the way I (Obama and Congress) see fit.

Aliveinsd

The Democratic Party needs fresh blood. Thus, because among U.S. Citizens, the pickings were getting slim. So, the Dem's import underprivileged by voting down any common sense measure to dam the breach at our southern border, or disallow citizenship by simple birth on U.S. soil.

Don't look now, but yer boy, Bush, had a republican congress for over six years while he was in office and the floodgates remained open during that time. Could it be because certain labor-intensive industries with big campaign contributions ensured that the pubs would keep their 'interests' in mind?

I've heard the argument that if we pay the pickers of fruit and vegetables a livable wage, we'd be paying $4 for a head of lettuce. How about $10 for a pineapple?

There's plenty of blame to go around and plenty of unanswered questions but for anyone to say that this has happened because the democrats need more votes (since when can illegals vote, anyway) tells me that Someone Needs to Do Their Homework.

Steve: If your logic is not faulty, then I have a bridge I would like to sell to you.

Kath: Do your homework and then, I'll finish mine. Just how many Latin (via Mexico) Republicans do you know? You can count them on one hand, certainly. And voter fraud is rampant. If you don't know this, or haven't been a witness to it as I have, you aren't living in a border state...or, perhaps it's that Ivory Tower from which you observe the world.

Our voting system is an honor system, but the honor has gone missing.

And that $4 head of lettuce would be affordable if legal residents were paid the wages that they deserve. If you know of any workers that are paid less than minimum, then report it.

Steve: Sorry. I got carried away. Speed-reading kills. You are on the team. Good. A gift--one vote from me to you.

The next time our politicians should be working for free. They are millionairs already or having "connections". Again, charity begins @ home.

Rich is ambiguous even though the salary taxed is already given? Do you even know what the word means? I think the only number you can call ambiguous once defined is pi. Like if they said "the top pi percent of profit generators in America". Posts like this annoy me... complaining without even paying attention to what you are complaining about!

Not a problem aliveinsd.

supraliminal13, what are you talking about? Give me 1,000 people and you will get 1,000 different answers as to what "Rich" is.

I like pi too. Can I get mine with some ice cream too?

Did you read the headline and not the article? Seriously? I bet if you ask 1,000 people what $350,000 is... you'll get one answer. How ambiguous is that? Not very unless you are trying to convert to a different currency in your head.

I usually don't like tax increases but that's not a bad idea Pacific.

Hey PNWB! What do you think about the state income tax proposal for us here in good ol' WA State?

Administratively a nightmare. Where exactly does the sale occur and who has the right to it. Server in the UK, Seller in WY buyer in TX. Who reports the sales Tax? And how is it collected?

Or Server in Austria, Seller in Germany, Buyer in DC?

Not disagreeing with you just stating the huge problem with administering the tax. This is why States have had trouble going after Sales Tax on Internet sales.

Why not just have a national sales tax. This way consumption is taxed from ALL who visit the US. And the administrative mechanisms are already in place.

Thought this is a really big red herring. What's to stop Uncle Sam from continuing to ratchet up the sales tax rate?

I think as Congress digs into this more there are finding that the "funding" question is not so easy to come up with.

Steve

Administratively a nightmare. Where exactly does the sale occur and who has the right to it. Server in the UK, Seller in WY buyer in TX. Who reports the sales Tax? And how is it collected?

That's true, Steve.

Apart from the truth in what you say, we citizens have very little trust in our government these days when it comes to taxes. Look at California. They have every tax known to man and not one seems to have offset another. They just keep raising them. All of them. Half the people have no idea where the state is spending their money. Neither does the state, I'd wager.

Administratively a nightmare.

Agreed.

All an Internet sales tax would do is raise commodity prices to help inefficient business models compete with more efficient systems. Such a tax would fall disproportionately on the middle class.

Hey PNWB! What do you think about the state income tax proposal for us here in good ol' WA State?

Depends on percentage that goes to local county governments. That in turn leads to undoing some county government sales taxes - which would be offset in the income tax. I tend to lean towards it as it's a more progressive tax system. Yes, I would be paying more, many of my neighbors less, but if reductions in country sales tax were implemented it could mostly even out and help lower income earners a lot. I don't mind paying a few hundred more a year if it means more people have more to spend to keep local businesses solvent.

Again raise taxes on the middle and lower income families, but leave the sacred rich alone. Heaven forbid they contribute for the wealth this country made available to them.

Good idea Pacific Northwest Blogger! It's the most intelligent idea I've heard on here.

I don't know where conservative boobs get off thinking "the rich" are suffering so much from taxes. Wealthier people can take the hit because they have more, period. Conservatives love to portray rich people as the ones who "busted their butts" to get rich. Get real. Napa Valley, California is crawling with trust fund babies who have maybe heard of a job, or even read about what it's like to "but their ass." They can give away some of their daddy's money or inheritance that they didn't work for to their fellow man. The "rich" are human, and will pay taxes and die like the rest of us.

What slays me is that most of the conservative republican nuts I know who defend the rich against higher taxes, are poor as owl shyt themselves. Half the republican party are wealthy people, the other half are ignorant peasants. Not everyone who is rich has "worked hard, and used their brains" to get there, look at Bush or Paris Hilton. These two people are rich and have never done anything close to a hard day's work in their lives. Its obvious that neither of them use their brains. They're not the only ones out there. Should we feel bad if these people have to pay more taxes? I'm not losing sleep over it.

This "tax burden on small business owners" bit by the reds has got to stop too. I'm related to more than one small business owner and dated a girl who had her own cleaning business. She never once told me that she couldn't hire someone because she was paying too much in taxes. She started off cleaning houses for people, which didn't pay much but she could do it alone. When she landed her first corporate account, a small office building, she had to hire two more girls to help her. This is what is called a business need. This is why she hired two people, it had nothing to do with a tax liability.

Similarly, I work for a tax software company, who announced a slowdown in hiring, rather than lay people off during the summer offseason. When tax season comes around again, sales of our software will pick up, business will increase, and because there will be more people out their who've purchased our product, there will be more people who will need assistance getting started. This means the company will have a business need to hire more people to handle the increased business activity, regardless of how much tax they're paying at the time. Ask any business owner you know how much of a role their taxes play in their hiring decisions. Conservatives believe some dumb shyt.

Maybe because today making $250K means you are upper middle class who has worked hard to earn it and not rich. People like Gates, Hiltons, Kennedys, numerous actors and sports figures are rich yes and could afford to pay higher taxes without hurting their lifestyles.

Julian, answer me this question.

If over the years of working hard and investing wisely, say I accumulate several millions of dollars. Haven't I EARNED the right to pass that to my kids or to whomever I want and in any manner I want?

Those trust fund babies you so eloquently refer too are the recipients of what their parents worked hard for. And if you hold such a low opinion of those trust fund babies, then you shouldn't have to worry because if they are that dumn you surely can find a way to sell them something completely worthless for lots of money. Right?

Steve, no one is saying that your hard-earned millions cannot be turned over to your children when you pass on. They are saying you can't horde all the millions you've accumulated for this purpose. The kids can have some of the money, but not all of it. This is what got the Nobility in both France and Russia is so much trouble a few years back. Some of them lost their heads over it.

Kathleen, you just did in your post. I can earn it but I can only give part of it to my kids. Hypocracy at its finest.

Respectfully, what business is it of yours what another person earns? And what right do we have to "rise up and demand equality? Shouldn't we earn it?

My view is that the super rich CEOs and their top paid assistants at companies like AIG, the biggest banks, and yes, the entertainers in Hollywood, are not "earning" what they are being paid.

If you make some money doing hard work that is one thing, but the bonuses for the people whose greed got us into this mess isn't right.

But they apparently are earning what they are being paid, or they wouldn't get paid, right?

There is no legit reason to tax people for success while others rest on their laurels and wait for the handouts.

PANeil- america is a 2 way street. imagine if only the poor were taxed for healthcare. the rich don't need the government to secure healthcare. it's the underachievers with their hands out all the time. so let's just tax the poor; not those who create jobs for others. BUT WAIT; that would be discrimination wouldn't it? targeting any group is discrimination.

PAN,

My view is that the super rich CEOs and their top paid assistants at companies like AIG, the biggest banks, and yes, the entertainers in Hollywood, are not "earning" what they are being paid.

If you make some money doing hard work that is one thing, but the bonuses for the people whose greed got us into this mess isn't right.

Exactamundo.

madcow

But they apparently are earning what they are being paid, or they wouldn't get paid, right?

Wrong, theft is not earning. They have not earned it any more than the robber barons that created the trusts and monopolies or the 1800's. There incomes have been rising over the last 30 years as the real income of the middle class has been declining. This is not sustainable and will lead to the collapse of the economy, ala fall 2008. We have every right as citizens of this country to set the standards by which we all live. That includes setting caps on income bonuses or anything else we deem to be in the best interest of the country. In fact is required of the Federal government to preserve domestic tranquility. How tranquil do you think food riots and sever poverty will be so the top 5% can have 95% of the wealth.

Take a look at France circa 1789 for a clue.

PanNeal-- then look at most of your politicians-- they are already millionaires, and most of them are idiots. Look at teachers salaries, especially in New York area, where they retire at 150000 dollars a year to collect 60% of it in their retirement packages (only a masters degree in education- please, physicians dont have these packages after working 7 days a week, 24 hrs a day), look at the superintendents of school districts and their 360000 a year retirement pensions on Long Island.

How about Hollywood????? Is anyone worth 20 million a movie???????

There is waste e verywhere and there are wastes everywhere. I call all the above "human sponges" because they are people that set themselves up with jobs that give unrealistic benefits for working maybe 3/4 a year. What does a proffessor earn a year in a private college??? Or state university?? Many of them cant even teach, but they earn their tenor and eventually become the dead wood that most students despise but have to pay for.

At least the pres. of a company is creating jobs, paying insurance, overhead, etc,

unlike some of our govt employees and educators.

What are you talking about? Teachers in New York make median salaries that do not crack 45k, and that is the highest median salary in the US for teachers!!! Professors make considerably more yes... but they also research, and (the decent ones anyway) work hours comparable to a physician. They SHOULD have top tier salaries. Complaining about teacher salaries, particularly outside of higher education, is utterly deplorable while you defend CEOs. On the same page you championed high degrees no less! Just shameful!

"There is no legit reason to tax people for success"

Steve,

I'm sorry, I just don't see what was "successful" about the money the financial services sector -- AIG, the hedge funds, the biggest banks and realtors -- did to earn the huge salaries and bonuses they gave themselves. I don't see what is "successful" about Exxon and GM. I don't see what is "successful" about all the cable companies having identical products and identical fees. I don't see what is "successful" about the fees plastic surgeons charge. I don't see what is "successful" about Britney Spears and Madonna that justifies the huges royalties they accumulate practically tax free.

I don't see why teachers, waitresses, sanitation workers and people who really earn their money shouldn't get a fair shake. I don't understand how the super rich have manipulated so many people into believing their robbery is moral....

Supraliminal- I guess you didnt read the article in Long Islands' "Newsday" a few weeks ago. It showed what the starting and average salaries were for teachers in long island school districts. It also reported what some of the retired superintendents were receiving. Such a waste.

AND I am not defending all CEOs. I do think that many, however deserve higher salaries for what they do, produce, jobs they generate, etc. And I am sure you have benefited in your life from many of the things they produce.

Please.

This nation will stagnate with a population of losers and thieves.

You refer primarily to those in Congress I hope!

SECAA23-

most of us have done just that. look at the economy and what's happened since the election. unemployment rates only count those receiving unemployment benefits. many states are reporting close to 50% of their population are unemployed. businesses that used to gross millions are ghost towns so they won't be reporting high earnings. banks make money by lending money; right? have you tried to get a loan lately? so those million dollar ceo's won't be reporting that high income for a couple years. so that leaves the movie stars right? wrong. turn on the tv and what do you see? reality shows and people taping themselves at work (dog the bounty hunter; opperation repo; etc). those movie stars are doing cartoon voices to stay afloat. it looks like the dems are looking at tax returns from a republican administration and not taking the current state of the economy into consideration. but hey; the president is on yet another world tour stimulating foreign economies with our money. if he's not worried we shouldn't either.

secaa,

Your going to see capital flight start to happen. The rich don't have to live here and the U.S. is not the best game in town any longer. The rest of the smart people who can't leave will just sit on their hands. This nation will stagnate with a population of losers and thieves.

That, my friend, is a steaming load. Countries like the UK, France, Denmark, Germany, etc. haven't lost their high-earning individuals to the extend that it's destroyed those countries.

secaa,

Your right just look back at what happened in the 90's when the taxes on the wealthy and capital gains were so much higher than this increase. What an economic mess we were in then my god they were actually projecting a surplus and jobs were being created at a faster rate than in 20 years. Real incomes for everyone were increasing. What a nightmare.

<sarc>

Go vomit this right wing 'corrupt capitalist' propaganda in your bathroom and flush it where it belongs, the sewer. Even Warren Buffet, that bastian of socialism thinks this conservative propaganda is harmful to the economy and capitalism.

Thanks Tim. I've been sitting here reading all these post with a frown on my face and you made me smile. That was funny. Hey I didn't vote for this bill. I thought for sure that the only logical and intelligent solution to our health care problem was something on the lines of France's or Sweden's or the Netherlands. I'm frustrated that we have to take this long approach to what will someday be, what's best for all of us. I am beginning to understand thou.

I think of it now like this. You can't take away every ones bowl of jello. This is the desert they've all been enjoying for ever and all they know. I don't care if your putting out a chocolate cake. If it's different and out of their comfort zone they will question it. Of coarse the jello people are going to tell them that it sucks and everyone in Europe hates it. And if all their supporters, (campaign funds), who depend on jello's money tell them the same. Their going to believe it. You can't force them to eat cake.

This country has to be spoon fed cake. In time they'll all love cake and fifty million Americans that don't even get jello will enjoy cake. If Uncle Sam wants my health and welfare portion of my benefit package and he'll take taxes from, progressively, the boss, don't kill him, it's all yours Sam. I do believe that my neighbor up the street should and will in time pay his appropriate portion too. In the end will all enjoy cake.

Oh yeah, one more thing. As to all that propaganda they spread. I'm a Union drywall carpenter and I really bust my ass for my bennies. Really.

From what I gathered the surtax is on Earned Income.

Endorsement income will be exempt. Royalties would be exempt. Holly Weird will be spared. Friends properly taken care of.

The movie stars and anchors in the News will have to find another job very soon. Those millions of dollars are going to be taxed to the bones.

Hollywood backed Obama during the campaign, and now Hollywood got a 500 mil tax credit on "new equipment" they need for filming.\ What does Spielberg earn????

Please, forget the people who own companies that employ and insure people, and create jobs from the top to bottom.

We could live without Hollywood. Most movies are not worth the millions they cost, and most actors are self-important psuedo intellects who can only recite a line.

So--- why did Obama give Hollywood a 500 mil tax credit????? Isnt that unfair to the unemployed and ailing people out there?? You know how these leeches live. Mansions, jets, etc, EVERYTHING you Obama supporters hate - or is it only when an executive has that? Hollywood gets a free ride because they voted your pres. in?

C'Mon Obama supporters, with the "health care for all" and "tax the higher wage" mentality???????

Hollywood??????????????????????????????????????????

Deidre, I'm guessing that the $500 million-dollar tax credit was used to keep people employed. That industry has been hit the same as all of them. The rain makers are still being paid; maybe not as much as before all this, but they're still being paid.

Plenty of low-level people work in that business too. Keeping them employed in hard-hit LA is not a boon. Even the camera man has kids to feed.

Deidre, a very timely article was in yesterday's LA Times on this subject:

http://www.latimes.com/business/la-fi-ct-runaway12-2009jul12,0,3440084.story

What have actors and directors made over the yearss????????????????????????

How about their huge Beverly Hills Mansions??? Please.

Deidre, that's the point. Those at the top are reaping all the benefits. Those at the bottom are getting the shaft. Holly-weird is a microcosm of what is happening to the rest of society.

True. But I would point out that most politicians know a lot more about hookers and booze as opposed to healthcare.

Hey PW!

Semper Fi!

Hey guys!

I read an article the other day with a pie chart in it showing that 55 percent of our federal budget goes toward military spending, if everything is included.

Why are you more ticked off about universal health care than spending 55 cents of every dollar you give to the government on the military? Do you know how much government waste there is there?

How about a multi-million dollar facility in Afghanistan approved by the GWB Administration? A new cafeteria? It is scheduled to open just when the troops are withdrawn and won't be needed. It's NOT FINISHED YET but the money has been allocated so it will be built.

Where's the outrage over stuff like that?

Kat.

Are we really living?

I am sorry everyone hates small business. It is sad but don't worry one day we will have big business like congress likes. Please give power back to the states and small business!

And who's building it Kate? Haliburton?

BillyP,

http://www.independent.co.uk/news/world/americas/a-fraud-bigger-than-madoff-1622987.html

The article is entitled, "A Fraud Bigger Than Madoff" and it will curl your hair.

In what could turn out to be the greatest fraud in US history, American authorities have started to investigate the alleged role of senior military officers in the misuse of $125bn (£88bn) in a US -directed effort to reconstruct Iraq after the fall of Saddam Hussein. The exact sum missing may never be clear, but a report by the US Special Inspector General for Iraq Reconstruction (SIGIR) suggests it may exceed $50bn, making it an even bigger theft than Bernard Madoff's notorious Ponzi scheme.

Oh, and this, also in the article:

In 2004-05, the entire Iraq military procurement budget of $1.3bn was siphoned off from the Iraqi Defence Ministry in return for 28-year-old Soviet helicopters too obsolete to fly and armoured cars easily penetrated by rifle bullets. Iraqi officials were blamed for the theft, but US military officials were largely in control of the Defence Ministry at the time and must have been either highly negligent or participants in the fraud.

And people are worried about Obama putting us in hock to pay for our society's needs, while this thievery was going on under GWB's nose.

Is it reform if I'm going to be paying more for it?

All packaged in one ply Charmin, just finger dripping wet.

I want the same healthcare program that my President and Congress have. We are equal in this country.

If you want better healthcare, you should earn it. If not, wait in line at some clinic.

Steve,

If you want better healthcare, you should earn it. If not, wait in line at some clinic.

Yeah, but better the sick person should die, right?

Are there no prisons? Are there no work houses?

Thia M---

YOU GO!!!!!!!!!!!!!!!!!

I agree with you so much-- I feel like it doesnt pay to spend many yrs in college and work hard, because now, you are looked down upon. I thought it was an honor to lift yourself up. I guess you can only go so far now, because it just doesnt pay.

please!!

The vast majority of College grads even up to PhD don't come near $350K a year. They won't be hit by this tax. It is just sad tired propaganda the people can see through now.

Plus $350K is just the starting point. Eventually those much higher will as they should pay even more to tax.

Anyone should only be allowed to progress so far.

It is perverse that the top 5% of this country have been allowed to compile 95% of the wealth and constantly use loopholes to avoid taxes.

You could take just a small portion of their wealth and with it double the wealth of everyone else and they still would be at an obscene level.

But Real World Engineer, why should we "take a small portion of their wealth"? This socialist notion of redistribution of wealth takes away so much from a society. It takes away drive, the passion to succeed, strength, and innovation. It encourages a hand out rather than a hand up. Also, this is location dependent as well. I live right outside of Washington, D.C. in Fairfax County. It's an incredibly educated area and salaries, according to the last thing I read in the washington post, average at around $80K per PERSON, not per family.

I disagree that it's "perverse that the top 5% of this country have been allowed to compile 95% of the wealth". It's there for the taking, for those that work hard, and lift themselves up. You are not entitled to wealth or a big, fancy house. That's not the way life works.

real world engineer-- raising taxes on the top 5 percent STILL wont be enough- that is why Obama is looking at other ways to tax the middle class

Also, there are many professors in this country , including deans, that earn 250000 and above. please stop looking at the top 5 percent. there are many others who sponge off of the system.

RWE, "Anyone should only be allowed to progress so far"

You have got to be kidding, Right??? Because this is such BS. What would Einstein, Bach, Bethoven, De Vinci, Obama, etc think if they were told: Sorry but you've progressed as far as allowed before they achieved what they did.

What is this country coming to when people actually think like this.

to diedre:

1) Are you kidding?

I repeat all the economic analysis show that top 5% holds 95% of the countries wealth. They could pay many times over what the middle class can pay.

The comment is just pure propaganda meant to scare the un-informed segments of the middle class.

2) Even the "rich" category breaks into segments. Those at the bottom will pay less than those at the top.

to steve:

Obviously the statement is about progression in the accumulation of individual wealth.

Most of the wealthy in our society have gained from corruption and the immoral manipulation aloud by wealth. Rarely is it do to hard work, that's just propaganda.

But no matter the reason economically such a small segment of society should only be aloud to gather so much wealth relative to the country as a whole.

"Most of the wealthy in our society have gained from corruption and the immoral manipulation aloud by wealth."

MOST or SOME?

PROVE IT!!!

"Rarely is it do to hard work, that's just propaganda"

Again PROVE IT!!!

Thia, I read your blog and i agree with you. Obama, when you think about it, never really worked his way up from within a company. I think he only worked one summer at a law firm. Hardly got up at 5 or 6 am to get to work , then take work home. Didnt really have to produce anything or answer to anyone.

He chose to go back to his surrogate home , Chicago, to become a government employee. For him, to work harder did not mean he would get rewarded with wealth or power. Yet he wanted it!!!!!!!!!!!!

So for him, I think, it became very easy for him to believe in redistribution of wealth. Since he was never really a go-getter. If he were, he would be at the top of a law firm by now.

And I do not buy the arguement that he chose to "help" the country rather than make alot of money with his law degree. To me, it just proves how lazy he really is when it comes to hard work. In my eyes, he falls into the category of the takers.

He would rather be sitting down with other people, just bu-- shi--ing about how he is goijng to save the day.

His legal skills are almost non existent--- he's probably never worked a real day as a lawyer his entire life.

gt,

You actually buy that idle threat?

to gt353cobra

YOU GO!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! Couldnt agree with you more!!!!!!!!!!!!!!

TimS ought to just pack it in. People are beginning to wake up and realize what this government is all about. TimS and his arguement are loosing steam.

Actually, the last election showed and all the current polls show the same thing.

People are can now see through this pathetic "capitalism" argument. They can see how bad the wealthy have been abusing them and the country through a corrupt/manipulated economic system.

We haven't had captialism in this country it is just "socialism for the wealthy". Now social justice will come for everyone.

Actually, the current polls from yesterday show that Obama is rapidly losing popularity. Reality has begun to sink in.

People who want "social justice" are people who won't work for a living.

ThiaM...

<<People who want "social justice" are people who won't work for a living.>>

That just isn't true.

All the current polls show people are for the reform to health care and taxing the wealthy for it.

Depends on what polls you look at, i could find plenty of "polls" that say different. Well I guess I am just one who is against it.

taxing the public did not start till the 1900's

Now that is one of the craziest things I've ever read. Must have been from the Washington Times.

Anyone explain to me how a Universal Healthcare Program could be run properly when we bring foreigner nurses and don't have enough doctors?

Moving the United Nations out of our country will save a lot of money

Han,

There was NO INCOME TAX on individuals until 1913(16th amendment), before that the entire federal government was run from other income sources such as tariff's etc.....Back then the federal government did only what it was ALLOWED to do according to the constitution, that's only a little over a generation or 2 ago, and this country has gone down hill since then and now the fed thinks there is absolutely nothing that is not in its power to take over from the states.

This country has gone down hill only for the robber barons. Children worked in factories starting at age 7. There was no education for anyone but the rich worth talking about and ditto medical care. Adults worked fourteen-hour days.

You might want to get hold of a history book, Pal, to see just how much this country has gone 'down hill' since the advent of the Income Tax in 1913.

Hallelujah! Pass me a Gun!

The fact that the rich are paying the lowest taxes they've paid since post WWII, I say tax em. Remove the loopholes and make them pay. The rich benefit from the very same economic system that the middle class and poor do. If they don't want to support the consumption side of this economic model then they will lose more than the taxes they will fight to pay. We're all in this together, without the middle class and poor, the rich are broke.

I only ask why did Budweiser go to a country that pays 15% tax? Why are all of our businesses leaving to pay 15% tax? I am stuck with the high tax and 50% of my profit goes to pay for air conditioning to my employees or equipment to make them more productive.

I hope you are right to raise the taxes!

US Corporations pay an effective tax rate between 15 and 35%. Some of the largest, about 85 or more effectively pay zero tax. Taxes are an interesting animal and not altogether bad. If the government did not remove taxes from our economic cycle, we would have what we just saw recently; inflation, hyper-consumption, rampant greed in our financial sector and economic collapse. Taxation isn't the problem, corruption in the re-distribution of tax revenues is the problem. Weak or inept politicians and lobbyists for powerful international firms all vying to suck at the taxation revenue teat.

Time for the middle class to rise up and insist on it's proper place at the table. Universal healthcare will take away one more political football to toss around. Insist on universal health coverage for all now!

I agree some and disagree some Krankee.

When such a small segment of the population is aloud to amass such a huge portion of the countries wealth, taxation needs to be addressed. It is the most effective tool to redistribute that wealth back to the middle-class and impoverished.

That's a very good point. A very dangerous precipice to have all the money (i.e.,. Power) concentrated in such a small percentage of the population. I've read that comment from you elsewhere in this thread and agree.

Given that our economic cycle is circular and without the consumption of goods & services by the masses in this country, we'd have no economy at all if the middle class is starved. The wealthy in their greed will bring their own ship down just so they can rule the ship.

Real World Engineer-

You are scary the way you stereotype the wealthy in this country. Did it ever occur to you that most of the wealthy actually work hard for their money, and by doing so, they (example, a co. exec), ARE creating jobs within their company and by using and leasing supplies and materials.-- It goes down the chain.

'Yes there are some corrupt people out there, but they arent all the wealthiest 5 percent that you seem so bent on.

How about the people your president is surrounding himself with? Geitner (sp?) owed the feds. - I think it was 70 or 100000 dollars. Now this is a politician who is looking at many people, especially the working class for more tax revenue to pay for this wast of time stimulus package, and for the next stimulus package. If you or I owed the government as much back tax as Geitner, we would be in jail. Please. Such hypocrisy.

Also, as far as cheats and loopholes go, how about the people , mainly of the working class, who use illegal aliens to work for them, such as landscapers. THEY are screwing the government of taxes. Housemaids, landscapers etc. there are many people who are not in the top 5 percent of the wealthiest who are using such loopholes.

Real World Engineer-

What is your gripe man? Are YOU out of work, do you have a job? Why such resentment? The wealthy? How about your politicians down in Washington. They are all wealthy and THEY use many loopholes and they manipulate the truths from the public. Many of the dems. you probably support also got their hands dirty from Freddie Mac and Fannie Mae and the rest. They owe and give alot to the very same lobbyists that they "supposedly " campaign against.

What about all of the wasteful , stupid spending in the stimulus package that is not going to help you or me.

I believe in this country because you CAN make a difference in your future - from hard work, education or just plain old simple talent and common sense.

I just hope it stays this way. I also hope that the American peoples' frame of mind shifts back that way, instead of getting pissed off at the many people who do work hard and play by the rules (wealthiest or not). I hope people start thinking for themselves and stop being manipulated by Obama and his now shrinking constituency.

Real wld engineer-

Redistribute the wealth??????

Obamas redistribution of wealth is not going to help me one bit. In some ways, he will help some in need, but unfortunately, many who choose not to be productive but instead look for handouts, and learn to stereotype many of the wealthier people who DO work hard in school and work to get what they have.

I have a good job.

I resent that the wealthy have manipulated/corrupted the finanical system to enrich themselves and drive down the middle class.

Our current system is just socialism for the rich and dump on the middle-class. These people for the most are not highly productive, hard workers, or job creators. They just have learned how to use great wealth to manipulate and corrupt the system at the expense of the middle class

Obama is leading the way in a proper redistribution of the resources and wealth of this country. Most people are not looking for handouts,they just wish to ensure the wealth is PROPERLY distributed through society and not subject to such manipulations.

People can improve their situations and grow but within a healthy range. They most not be allowed to unbalance the system so very much at the cost of the majority.

As I have stated before such a small segement of the population should not be allowed to amass so much of the nation's wealth for any reason. It is unstable and unhealthy for the country and inherently wrong.

The current form of American Capitalism is a failure.

"People can improve their situations and grow but within a healthy range. They most not be allowed to unbalance the system so very much at the cost of the majority.

As I have stated before such a small segement of the population should not be allowed to amass so much of the nation's wealth for any reason. It is unstable and unhealthy for the country and inherently wrong.

The current form of American Capitalism is a failure."

Well said, RWE

rams

Kat and I are in the opposite of the aisle but she is a bright lady.

rams57, W's last budget and Obama's most recent budget are almost identical in spending. Bush/Cheney/Rove tended to use alot of fuzzy math to cut back on the amount of money he was spending and the effective amount over time.

Spent more money than all the Presidents combined? That's definitely some fuzzy math. It's funny to hear people screaming about all that nonsense. Considering that we have 14 Trillion dollar annual GDP and we're worried about a few trillion dollars? 14 Trillion dollars annually is 140 Trillion dollars in ten years. You tell me several trillion dollars in ten years is going to bankrupt the US?

Hell I have a mortgage that is 2.5 times my annual salary. In ten years, I'll have a mortgage that is at least the same as my salary if I'm looking through rose colored glasses. We haven't even begun spending as a country on that level. Wanna scream fire in a crowded theatre, make sure there is in fact a fire. Otherwise, switch from Fox News and AM Radio and get news from other sources so you'll be a bit more Fair and Balanced.

It's ridiculous that they can't even read the bills that they vote for, someone should write a 1000 page bill up and put on the 3rd to last page that whoever votes for it will be fired. Alot of people would sign their jobs away. ( I am not serious about it) just making a point. These politicians are irresponsible whack jobs who vote and don't read.

A 'Hussian obama economy'?

Are you sure you're on the right planet?

You go Rams 57-

People are beginning to wake up. They are now realizing how O bama politics will affect them.

you lost me when you quote a psychopathic, sociopathic, criminal like G. Gordon Libby. If that is your idea of a great American, you should have the same right to vote as he does.

Last time I checked, $350K a year far from includes everybody.

Plus, the first set of taxes on the wealthy started at $250K a year and now up to starting at $350K.

The facts of this progression to the extremely wealthy counters your merit-less argument that the taxes will eventually include everybody. (dirty little propaganda from the wealthy and their slaves)

2nd) Such a small group of people (5%) should never be allowed to pile up so much of the countries wealth (95%) to them selves for ANY reason.

Tim, you may not like Liddy. I have no great admiration for the man either, but you didn't refute him, You just attacked his person. Very liberal approach to an argument.

Real World, you sound like one of those "less than able to compete" people who resent anybody who makes more money than you. Another very liberal characteristic. You will be paying out the butt, buddy. But, you won't see it coming. I'll leave you with one more quote; "The obscure takes time to see, but the obvious takes longer"; Edward R. Murrow.

Try squinting; maybe the truth will reveal itself to you.

Your comments are accountable to our history...I hope you guys are right!!

Phil Barker, You go!!!!!!!!!!

Couldnt agree with you more!!!!!!!!!!! Sounds more like resentment to me., too.

Rangel is out to help some at the great expense of others. Shameful.

Yup time to punish the hard working americans in this country and reward the lazy, irresponsible people who would rather recieve a welafare check and handouts from the government than to be a productive citizen and provide for themselves and their own family.

I thought I lived in the land of the free, the land of oppurtunity, with comments like that I am not so sure. Do you want me to feel guilty if I am able to make myself alot of money?

Bah!!

Its rewarding the hard working people of the country (the middle class) and taking away from those that have cheated the country, beyond their rightful due, far too long.

Those "lazy, good for nothings who want hand-outs" already have health insurance -Medicaid. Those "old people capable of work but don't" already have health insurance -Medicare. So America provides already for elderly and the "lazy," but for heaven sake America must not help the 39 year-old cabbie/barber or the single 43 year-old secretary who can't afford private health insurance. Better perspective now?

Snyder-- You and RWEngineer are both so laughable. Many of the wealthiest work hard for what they have. Believe it.

P.s. When you two show such hate for, and stereotype the wealthy, I cant help but thing you are both just plain resentful that you are both the hateful loosers that you are. You both are so bent on downing the reps and wealthyn that you both have become so freaking blind to the corrupt government you have elected into office.

I think this is where I'm confused. Who said life was fair? Why should it come down to fairness? Where in the Constitution are you guarenteed "fair" and who determines what "fair" is? Why do you feel that you deserve some of my money or why do you feel that because someone has built a business and has done well that s/he owes anyone anything?

I understand what you're saying, however, if everyone was granted the same opportunities early on in life for education, college, entrepreneurship etc. I might agree with you. But, when the deck is stacked so significantly toward the affluent remaining affluent and the poor remaining poor, it is entirely unfair. Our country is supposed to be about being 'one nation' and the entire nation benefits when all its people have the ability to be productive. There is a misconception that people who are poor are that way because they're "lazy"....I guess some could be just like some could be lazy that have a business handed to them by their daddy. I don't see what's wrong with helping others out that haven't had the same breaks and benefits of those of us who have (I would be one of those who have had breaks and benefits come my way). I have no problems helping others out so they have the same breaks I did....that's the way it should be. What's really sad is these same individuals that supposedly are "Christians" don't believe in the "I am my brother's keeper" philosophy...it inconveniences them therefore they call it socialist.

You assume that these people that have big businesses or those who make alot of money don't help anyone out. I would disagree. But it is their choice to if they want to or not. It is just as wrong for the "poor" to feel entitled to someone else's money "Thou shalt not Covet thy neighbors house"

There is a line to where people who get too much expect too much and are enabled to keep on being lazy. I am not against helping anyone out in need, but it is far better to teach a man to fish so he can catch his own than to give a man a fish just to ask for more.

Doc,

That top 5% doesn't hold equal wealth to the other 95% put together. They hold many times the wealth of the other 95% put together.

That's whats so pathetic about our economic and tax systems in America.

Tax slapping the wealthy will only make them look for more tax shelters. What makes it favorable to move manufacturing and jobs to other countries? They don't get tax slapped or environment slapped there. Haliburton has moved out of the USA. Many more former US companies will follow.

1) The wealthy/corps will always threaten "it will cost jobs".

2) They will always threaten to move off shore.

Neither is a reason to sacrifice the middle-class or the environment.

Following the path of caving into this nonsense will just lead to poverty and perhaps slavery for everyone not counted amongst the wealthy. They will just use these threats any and every time they want something or are against something.

Losing jobs is not a threat. In NYS the govenour and legislature raised taxes and fees. A local business that had a three year plan to expand now has a three year plan to leave the state. Tom Gallisano sold most of his properties and moved from NYS to Florida because it will save him $15,000 a day in state income taxes. The same will happen on the national level.

Even if they do both of these things it is not a reason to sacrifice the middle class and environment.

Again, even if the threats happen, caving into them just moves the middle class closer to servitude. Since they use these threats, and follow through sometimes on them, for any and everything they want or hate.

In the long term caving into these threats just transform this democracy to an oligarchy.

It's not a threat. It's good business. Are we to become a nation of shopkeepers and non-profit organizations? Without manufacturing there will be no middle class.

Standing up to the wealthy and the corporations is how the middle class is saved and returned to its proper state.

I am sure their taxes will get around to everybody equally.

Just like the Republican Tax cuts did 2006? *sarcasm*

On Jan. 1 Congress allowed two tax breaks that benefit the wealthy to become effective. The cuts eliminated current provisions of the tax code that limit the amount of personal exemptions and itemized deductions that Americans with high incomes can take. Over the course of the next five years the tax cuts will cost approximately $27 billion, according to a study by the Center on Budget and Policy Priorities.

Only two weeks before the cuts took effect, Republicans in Congress voted to reduce spending on programs benefiting the poor and the middle class by $39 billion over the next five years....

The Joint Committee on Taxation has estimated that over the next 13 years these tax breaks for the wealthy will deprive the country of $197 billion in revenue. And a study by the Brookings Institution determined that 97 percent of the Pease and PEP tax breaks will go to those households with incomes above $200,000. And more than half of these breaks will benefit the 0.2 percent of families with annual incomes exceeding $1 million. Once these tax cuts are fully implemented in 2010, the average millionaire will save $19,000 annually in taxes.

No cuts for vast majority

Families with yearly incomes between $100,000 and $200,000 will receive an average tax cut of only $25. And families earning less than $100,000 — the vast majority of Americans — will not benefit at all.

Shortly before these tax cuts became effective, Republicans in Congress voted to cut $11 billion over the next five years from Medicaid, the health care system that serves America’s poor. Substantial reductions made in childcare assistance will result in 255,000 children living in poverty losing federal assistance.

Congressional Republicans cut $343 million in funding for foster care programs. These reductions will make it more difficult for grandparents who are raising their grandchildren to receive assistance.

Over $12 billion was cut from federal college loan programs, making it more difficult for poor and middle-class Americans to afford a college education.

In fact, over the next five years these tax breaks from the Pease and PEP tax cuts exceed the savings from all of the reductions in low-income assistance programs that Congress voted to cut.

Some one had to pay for the war in Iraq and the thing about it is that the wealthy are still making money with govt contracts to supply the war since it started. Is that what you call trickle down.