Wednesday, July 11, 2012

Let's tax the wealthy!

My favorite subject!


Oh how I love to discuss this political hot potato…in fact, almost as much as the Liar-in-Chief, Obama loves to use it as the lever to advance his agenda.

Has anyone else noticed how Obama, when he talks of taxes, talks of taxing the wealthy. Sure, he also talks in terms of those families earning over $250k…but most of his rhetoric is about the wealthy.

Why does he do this?

I think there a couple of reasons.

Firstly, wealth is a very subjective term. To an individual living on food stamps, or homeless, wealth is a very low barrier…perhaps even having enough money to buy your next meal would be considered wealth.

To the blue collar worker struggling to pay his mortgage, wealth could be having his mortgage paid off and enough money left for a simple retirement.

An entrepreneur may measure wealth in the millions of dollars, while a successful entrepreneur may measure it in tens or hundreds of millions of dollars.

By talking in terms of wealth, this President knows that he can capture the hearts and minds of the jealous without having to define anything. He is relying on the lowest possible interpretation of wealth to ensure his constituents agree with him. After all, most people will measure wealth in terms of what they don’t have…not in terms of what they COULD have. SO wealth becomes a weapon… a weapon for turning the voter against the person who has more than them….I have another name for this…class warfare…and the warfare is aimed at anyone who has more than you do.

Of course, one could simply argue that Obama does not know the difference between income and wealth…but that argument is complete BS (and if it were true, we have a total idiot in the white house!...oh yeah…we do!)

What I will concede is that Obama knows that MOST of his followers, those who cry when he gives a speech, those who fawn over every deceitful word that emanates from his lying ass, …yes, those followers do NOT know the difference between wealth and income.

There is no wealth tax in this country (yet…I will get to that in a minute)…with the exception of the inheritance tax that say “you’re dead now…so you don’t need it…the government may as well use it to buy more votes”.

In this country you are taxed on income…so it should not matter how wealthy you are…the only method used for taxation is how much you earn.

Now, for those who still do not grasp the difference…I will explain carefully:-

Wealth is the accumulation of assets, money, stocks, artwork, jewelry, etc . If you own your own business, the value of that business is included as your wealth. If you have loans or borrowings, that is deducted from your assets to give net wealth.

On the other hand, income is what you earn a living at. It does not include your savings (but does include interest on those savings). It does not include your investments (but does include any dividends you may receive.)

Wealth can be accumulated. Income cannot.

A retired factory worker with a GED can have much greater wealth than a professional with multiple degrees. How? Perhaps he invested wisely throughout his life, lived within his means and saved his money for his now very comfortable retirement.

On the other hand, the professional lived on credit cards, enjoying the good life and has no assets to his name at the end of his career even though he was in the $250k and more family income that Obama talks about.

So now we see why Obama is talking about wealth an awful lot these days….it is more than just creating class warfare…it is setting the stage for an additional tax base.

You see, if the government instituted a wealth tax, it would be taxing the accumulated good habits of the retired factory worker…and the government could get its hands on a portion of that money. The wasteful  professional is still getting taxed on his $250k each year so the government is happy with what they are stealing from him...but as you know…when it comes to taxes the government is never happy.

I believe that Obama is preparing the way for the introduction of a wealth tax, which he will push through in his second term of office should America be so foolish as to elect him.

The signs are there. He has already even tested the waters with a repatriation wealth tax levied on folks who choose to live outside the USA and who choose to give up their citizenship. It is a tax of around 33% of their net wealth if they choose to do this. It is a final attempt to steal from Peter before he leaves for a better life. And at…how would YOU like to have 33% of everything you own taken away from you?

While I do not expect a wealth tax of 33%, I do expect we will see something in the vicinity of 3% to 5%...but remember that this will be levied EVERY year. People living on the income from their investments (wealth) will find their wealth eroding every year….being taxed on both the income and the asset.

Yep…there is definitely method in Obama’s madness….and he understands fully that if he can confuse the relationship between wealth and income, if he can divide the population into you and the wealthy, if he can talk about taxing the wealthy….he will be able to slip a wealth tax into your future.

And you will never know what hit you. The average person will not oppose this because they think it will be taxing someone else…it will never dawn on them that they are also firmly in the sights of this rabid tax and spend Liar.

The ultimate outcome of a wealth tax is that more and more people will refuse to live wisely…they will waste their money on baubles…the savings and investment levels will decrease…and the economy will eventually stall…worse than ever before seen.

This is the plan…because by then it will be too late….most people will be tied to the government teat for the daily sustenance…and that is exactly what Obama wants.

Can this happen in the next four years…possibly…particularly if the wealth tax is set at a high enough level.

We live in dangerous times, friends. Whenever a President starts changing the meaning of words, starts interchanging words, starts manipulating words…you know that his agenda is not good for you.

The Liar0in0Chief was doing that before he was elected….

How is that “hope and change” thing doing for you?



  1. And the camel's nose is his "millionaires and billionaires" phrase. Sure, the bulk of the ignorant and non-wealthy will be all for "soaking the rich", without ever realizing that they are setting the stage for the confiscation of all wealth "for the good of the country". This is full blown Communism, but just like sheep, sheeple are stupid. God help us, if he does get a second term this just might happen.

  2. Agree -- We hear about a "consensus" from the New Deal, that the government has the duty to see that everyone is provided for, so that everyone can "pursue happiness". This kind of thinking leads straight to communism, and is antithetical to the America we grew up in. What right does the government have to know how much money you make, or how much wealth you have?

  3. Thanks guys,

    the fact that you have seen what is transpiring is a good omen...I hope many more will do so too.