Obama blathers non-stop about how the wealthy “need to pay their fair share.” But in reality, the majority of those making over $250,000 include hundreds of thousands of small businesses that are struggling under Obama’s devastating economy.
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When I first heard BHO considered he considered a person making $250,000 as rich I knew he did not know the difference between rich and wealthy. My short definition A wealthy person signs a rich man’s check. $250,000 might term you as rich, which can be lost in a heartbeat or with proper management be increased to wealth, but $250,000 in no way makes a person wealthy.
Then I hear the argument. Wealthy people take advantage of loop holes in our system so they can keep more of their money. You can bet everyone of the wealthy in Congress do the same thing!!! It is a do as I say not as I do administration. It is one of our many perks WE deserve for being your leader. LEADER??? They are not leading they are herding.
The reason taxing the rich more would harm the economy is because the cost will just get passed onto the small-guy.
With that said, the increase would be on money over $250,000.00. Taxes on the first $250,000.00 would not go up. And anything that is used for business expenses would get filed on a schedule C with the IRS and no taxes at all would be paid on such expenses. –So really the man in the video does not make sense.
Nonetheless, it would be bad for our economy to increase taxes on anyone.
Debra J.M. Smith
Informing Christians Writer