{"id":5437,"date":"2012-09-12T06:28:49","date_gmt":"2012-09-12T10:28:49","guid":{"rendered":"http:\/\/goldstocksforex.com\/?p=5437"},"modified":"2012-09-12T06:28:49","modified_gmt":"2012-09-12T10:28:49","slug":"sowell-obama-uses-tax-the-rich-rhetoric-to-hoodwink-voters-the-columbian","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2012\/09\/12\/sowell-obama-uses-tax-the-rich-rhetoric-to-hoodwink-voters-the-columbian\/","title":{"rendered":"Sowell: Obama uses 'tax the rich' rhetoric to hoodwink voters | The Columbian"},"content":{"rendered":"

According to the Internal Revenue Service, more than 2.7 million people earn $250,000 a year or more — and fewer than one-tenth of them earn a million dollars or more. So more than nine-tenths of the people who would be hit with the higher taxes supposedly aimed at “millionaires and billionaires” are neither. “Bait-and-switch” advertising is exactly what President Obama is doing with his proposed tax increases on “millionaires and billionaires.”<\/p>\n

It gets worse when you look at the potential economic consequences of the tax rate increases being proposed. The small proportion of the people targeted for Obama’s higher tax rates who are in fact millionaires and billionaires have the least likelihood of actually paying the higher tax rates. People with annual incomes in the millions or billions of dollars can live pretty high on the hog on a fraction of their income, leaving them with plenty of money to invest. And they can invest it in ways that keep it away from the tax collectors.<\/p>\n

via Sowell: Obama uses 'tax the rich' rhetoric to hoodwink voters | The Columbian<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

According to the Internal Revenue Service, more than 2.7 million people earn $250,000 a year or more — and fewer than one-tenth of them earn a million dollars or more. So more than nine-tenths of the people who would be hit with the higher taxes supposedly aimed at “millionaires and billionaires” are neither. “Bait-and-switch” advertising … <\/p>\n

Continue reading “Sowell: Obama uses 'tax the rich' rhetoric to hoodwink voters | The Columbian”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5,34],"tags":[1802,3437],"class_list":["post-5437","post","type-post","status-publish","format-standard","hentry","category-economy","category-us-canada-countries-regions","tag-income-tax-rates","tag-top-marginal-income-tax-rates"],"yoast_head":"\nSowell: Obama uses 'tax the rich' rhetoric to hoodwink voters | The Columbian - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sowell: Obama uses 'tax the rich' rhetoric to hoodwink voters | The Columbian - the patient investor\" \/>\n<meta property=\"og:description\" content=\"According to the Internal Revenue Service, more than 2.7 million people earn $250,000 a year or more — and fewer than one-tenth of them earn a million dollars or more. 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This is part of a wider trend with President Obama targeting the wealthy in his election campaign, promising to raise taxes on incomes in excess of $1\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":8270,"url":"https:\/\/thepatientinvestor.com\/index.php\/2013\/08\/12\/superannuation-is-inequitable-and-unsustainable-macrobusiness\/","url_meta":{"origin":5437,"position":1},"title":"Superannuation is inequitable and unsustainable | | MacroBusiness","author":"ColinTwiggs","date":"August 12, 2013","format":false,"excerpt":"I agree with Leith van Onselen that Australia's aged pension\/superannuation regime will be sorely tested over the next 30 years as the number of workers per retiree falls to below 2.5 to 1: But I don't agree with his proposed solution: ...The flat 15% tax on superannuation contributions should also\u2026","rel":"","context":"In "Australia & NZ"","block_context":{"text":"Australia & NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4092,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/04\/16\/dems-lay-trap-for-gop-with-buffett-rule\/","url_meta":{"origin":5437,"position":2},"title":"Dems Lay Trap for GOP with Buffett Rule","author":"Colin Twiggs","date":"April 16, 2012","format":false,"excerpt":"Do Top Earners Pay Too Little?Taxpayers earning more than $1 million a year pay an average U.S. income tax rate of nearly 19 percent, according to the Tax Policy Center. The top individual tax rate is 35 percent. Loopholes and other deductions help lower that rate so that most Americans\u2026","rel":"","context":"In "Financial Planning"","block_context":{"text":"Financial Planning","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/other\/financial-planning\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":5988,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/11\/01\/fiscal-cliff-two-candidates-two-approaches\/","url_meta":{"origin":5437,"position":3},"title":"Fiscal Cliff: Two Candidates, Two Approaches","author":"Colin Twiggs","date":"November 1, 2012","format":false,"excerpt":"By ERIC PIANIN and MERRILL GOOZNER, The Fiscal Times [Romney and Obama] agree that a stopgap measure is needed before January 1 to temporarily extend the raft of Bush era tax cuts and other measures set to expire. However, Obama has signaled his intent to veto even a few months\u2019\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":6842,"url":"https:\/\/thepatientinvestor.com\/index.php\/2013\/03\/02\/something-has-to-be-done-about-income-taxes\/","url_meta":{"origin":5437,"position":4},"title":"Something has to be done about income taxes","author":"Colin Twiggs","date":"March 2, 2013","format":false,"excerpt":"Years ago I worked in structured finance for an investment bank, creating tax-efficient structures for large corporations. That left me with the lasting impression that income taxes are inefficient \u2014 both in terms of equity and collection \u2014 and should be levied at low flat rates if they cannot be\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":12973,"url":"https:\/\/thepatientinvestor.com\/index.php\/2016\/03\/13\/axe-negative-gearing-for-a-healthier-property-market-saul-eslake\/","url_meta":{"origin":5437,"position":5},"title":"Axe negative gearing for a healthier property market | Saul Eslake","author":"ColinTwiggs","date":"March 13, 2016","format":false,"excerpt":"Thanks to Ody for posting this on IC forum. I feel it is worth repeating here because of the current debate around negative gearing. Axe negative gearing for a healthier property market Apr 25, 2011: Saul Eslake The property market would look a lot healthier without it, writes Saul Eslake.\u2026","rel":"","context":"In "Australia & NZ"","block_context":{"text":"Australia & NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/5437","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=5437"}],"version-history":[{"count":0,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/5437\/revisions"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=5437"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=5437"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=5437"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}