Obama's Policies Would Redistribute Nearly $1 Trillion in Wealth Every Year

Freedom4all

Veteran
Apr 18, 2009
767
0
By 2012, nearly $1 trillion from the top 30 percent of American families will be redistributed among the bottom 70 percent if Obama’s proposals on taxes, health care, and climate change become law, according to the Tax Foundation.

“Even if none of Obama’s policies becomes law, the extent of income redistribution is remarkable,†Scott Hodge, president of the nonpartisan, nonprofit organization, said. “The top-earning 40 percent of families will transfer $826 billion to the bottom 60 percent in 2012.â€

and

Obama Will Spend More on Welfare in the Next Year Than Bush Spent on Entire Iraq War, Study Reveals

President Obama’s welfare spending will reach $888 billion in a single fiscal year--2010--more than the Bush administration spent on war in Iraq from the first “shock and awe†attack in 2003 until Bush left office in January.
 
“Even if none of Obama’s policies becomes law, the extent of income redistribution is remarkable,â€￾ Scott Hodge, president of the nonpartisan, nonprofit organization, said. “The top-earning 40 percent of families will transfer $826 billion to the bottom 60 percent in 2012.â€￾


According to this, if NONE of Obama's policies become law, there is still major income redistribution. Essentially, that means that much of this redistribution has been in the works for a while. In fact, according to the source you posted, currently families making $280,000 receive 61 cents on the dollar, while those earning over $700,000 receive about 40 cents for every tax dollar spent. Redistibution has been part of our tax system for decades. Of course, I am the first to admit that Obama obviously wants even more "federal benefits" to be "distributed" to lower-income families. According to your source, as much as 7 cents more per tax dollar can be "redistributed" from high earners to low earners under Obama's policies. That is a HUGE jump.
 
Funny how when Bush trippled the size of the government and awarded all kinds of no bid contracts (a form of corporate welfare), tore the constitution through the so called patriot act (which Obama supported),the neo-cons and other Bush supporters were all for it.
The sick lame and lazy always get the spotlight when it comes to welfare abuse. Of course this light is held by the main stream media which is corporately owned. The light is never shined on the biggest welfare leach and parasite: corporate America. Of course the dumbed down american people side with their corporate enslavers and parrot their disdain for the "welfare mother."
Two hundred and fifty thousand to a million dollars a year will get get you status, expensive cars, mansions, trophy wives and super model girl friends. You may even get to sit with Jerry Jones in the owners box while he picks his nose on national TV in his brand new Cowboys Stadium; but when the Titanic goes down, there's only so many life boats.
The truely wealthy hide their wealth through foundations and other tax shelters. Even Warren Buffet admitted that he made all his income on dividends which are taxed at 15%.
Barry Obama is just another coporate puppet in a long line of corporate puppets that have occupied the White House. The last real president the American people had left half his brain scattered on Commerce Street in Dallas, TX.
Barry is continuing Bush's foreign policy. The neo-cons should love him! Barry promissed to close down Guantamo. Last I checked it was still open. Barry was going to pull out of Iraq. All that has been done was pull the troops out of the cities. Some were put in bases, the rest sent to Afghanistan. Speaking of Afghanistan; Barry wants to send 500,000 troops to try to do what the the Arabs, Mongols, Russia, the British Empire and the U.S.S.R. have failed to do: tame Afghanistan.

...When you're wounded and left on Afghanistan's plains,
And the women come out to cut up what remains,
Jest roll to your rifle and blow out your brains
an' go to your gawd like a soldier...

Rudyard Kippling, The Young British Soldier.


Now Barry wants to give us government sponsored health care, Socialized, as the corporate media calls it. The kind of health care he wants is made to apeace some of the down trodden, will burden the middle class and will further enrichen his corporate masters (no racial tone intended). No change here.

With all the wealth, knowledge and technological advancement in this country, there is no doubt in my mind that every man woman and child in this nation could receive free top of the line medical attention from cradle to grave. That will never happen. We only have wealth, knowledge and technology for the military indutrial complex which feeds our wars of empire.
 
If I spend $2,000 on education and attend one seminar, I could make $40,000 a year more than I do now. I chose not to do so, because so much of the increase would go to taxes (and child support as well). Why bother!
 
If I spend $2,000 on education and attend one seminar, I could make $40,000 a year more than I do now. I chose not to do so, because so much of the increase would go to taxes (and child support as well). Why bother!

How much more tax? How much more work? Even at 25% you are still taking home an extra $30k Unless the extra work is not worth $30k it seems like a no brainer to me.

My wife is going for her RN and then a BSN at the very least. I have a few things I am working on as well. What tax bracket I am in is not even a concern. I am always going to end up with more money in my pocket and that's my goal.
 
How much more tax? How much more work? Even at 25% you are still taking home an extra $30k Unless the extra work is not worth $30k it seems like a no brainer to me.

My wife is going for her RN and then a BSN at the very least. I have a few things I am working on as well. What tax bracket I am in is not even a concern. I am always going to end up with more money in my pocket and that's my goal.

25% federal income tax, 7.65% payroll tax and 30% child support tax ==> more than half my increase would go to other people. Yeah, I would be netting more for myself, but I do have standards. I do not work for other people the majority of the time, period.
 
25% federal income tax, 7.65% payroll tax and 30% child support tax ==> more than half my increase would go to other people. Yeah, I would be netting more for myself, but I do have standards. I do not work for other people the majority of the time, period.


Well what tax bracket are you in now? Based upon your numbers above, if you take $40,000 off the minimum taxable income required for a 25% tax bracket and use the applicable tax bracket, it seems you are already working "for other people the majority of the time" when you include your "child support tax".
 
Funny how when Bush trippled the size of the government and awarded all kinds of no bid contracts (a form of corporate welfare), tore the constitution through the so called patriot act (which Obama supported),the neo-cons and other Bush supporters were all for it.

Last time I checked it took participation from both houses of congress Eddie..................

And speaking of corporate welfare.......you must love the people running the fed and treasury from the Obamanation................ :lol:
 
Last time I checked it took participation from both houses of congress Eddie..................

And speaking of corporate welfare.......you must love the people running the fed and treasury from the Obamanation................ :lol:


And for 6 of the 8 years Congress was controlled by the same party that the WH was controlled by.
 
Well what tax bracket are you in now? Based upon your numbers above, if you take $40,000 off the minimum taxable income required for a 25% tax bracket and use the applicable tax bracket, it seems you are already working "for other people the majority of the time" when you include your "child support tax".

It's 45% today. If I make $40,000 more a year, it goes up to 49%. The second $40,000 gets taxed at 55%. Thanks but no thanks. Even if the tax rate stayed at 45%, why should I spend $2,000 of my own money and a lot of time and a switch from non-exempt to exempt status and an increase in work expectations and resposibility to spend 8 AM to 11:30 AM working for someone else?
 
Bleeding hearts always want to confiscate the income from those who work for their money so they can buy votes with giving it to the slackers in society who are too lazy to get up and do something for it.

Why should they work, they can get it for free. And we think we are the smart ones...sarcasm if it was missed.

I know Garfield will have a fit with this next comment, but Jesus said, "give a man a fish and he'll eat for a day, teach him to fish and he'll have food for a lifetime." In today's English...get off your lazy backside and earn your own money to live on.

I have yet to see a poor person in this nation. They have cars, televisions, cable or dish tv services, etc.

What really eerks me is when they get money back from the IRS because of "earned income credits." First, they haven't earned it, its public aid. Second, how can you get back more then you paid in? Once you hit zero, the gravy train should stop.

But I know, I'm an extremist right wing radical who doesn't care for people.

Reality is...I believe in people and believe that it is better for a person to be a productive member of society then a complete drain on it.
 
I know Garfield will have a fit with this next comment, but Jesus said, "give a man a fish and he'll eat for a day, teach him to fish and he'll have food for a lifetime." In today's English...get off your lazy backside and earn your own money to live on.


Which Bible do you read? And where does Jesus state what you quoted above???

Here is a real Bible story about Jesus and fish: More than 5000 people followed Jesus to an isolated area. Jesus' disciples wanted Jesus to command the crowds to leave and buy their own food. But Jesus had compassion on the crowds and told the disciples to feed the crowds. The disciples replied that they only had 5 loves of bread and 2 fish. Jesus took those loaves and fish and made enough for all to eat and be satisfied. Matthew 14.
 
Which Bible do you read? And where does Jesus state what you quoted above???

Here is a real Bible story about Jesus and fish: More than 5000 people followed Jesus to an isolated area. Jesus' disciples wanted Jesus to command the crowds to leave and buy their own food. But Jesus had compassion on the crowds and told the disciples to feed the crowds. The disciples replied that they only had 5 loves of bread and 2 fish. Jesus took those loaves and fish and made enough for all to eat and be satisfied. Matthew 14.
Sounds like Jesus was a Socialist! :up:
 
By 2012, nearly $1 trillion from the top 30 percent of American families will be redistributed among the bottom 70 percent if Obama’s proposals on taxes, health care, and climate change become law, according to the Tax Foundation.

“Even if none of Obama’s policies becomes law, the extent of income redistribution is remarkable,â€￾ Scott Hodge, president of the nonpartisan, nonprofit organization, said. “The top-earning 40 percent of families will transfer $826 billion to the bottom 60 percent in 2012.â€￾

and

Obama Will Spend More on Welfare in the Next Year Than Bush Spent on Entire Iraq War, Study Reveals

I've got news for ya champ,most of those billions didn't magically appear they came from the 60 percentors. Or are you forgetting the techno boom and bust of the nineties.The top of the economic food chain made theirs off of the money we Americans invested in Wall Street. Options baby. Puts and calls. We put the money in they took it out. This is the biggest shell-game in American history. Major wealth transfer with a shift to marxism.
Just because they hold it now does'nt mean it belongs to them. Perhaps you need to think a little further. For instance what's the difference between a free nation and a marxist dictatorship. The economic independence of the people for one.

This is not an endorsement of Obama's policies,and you should'nt assume that. What I'm saying is that; the theft of our independence has been a joint-non-partisan effort by D.C.
The republicans and democrats are stealing our jobs, ripping off our retirements through Wall Street, implementing dangerously marxist "anti-terrorism" policing authority, and all the while Americans are arguing party politics.