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Reader comment on:
Obama Would Shift Tax Burden to Wealthy
in response to reader comment: Taxes on the Wealthy

Submitted by Steve S, Jan 27, 2008 16:15

Just wait to see how the stock market falls when it's apparent he gets the nomination. Many times more than $80B in stock equity will be erased. Look at what happened in Canada in Oct06 when they changed the laws on Income Trust dividends. The idiots wiped out $35B in equity in 3days to save less than$1B in taxes. Now the companies are being bought out by sovereign wealth funds at bargain prices, so they will lose most of the revenue anyway. I wonder how retired folks and the savers in the struggling middle class will enjoy that? Redistrubution never works in the end. Today's socialists don't understand that the most productive are globally based, well networked, and they will ALWAYS outflank wealth confiscation schemes. You have to be damn smart to become wealthy in our current semi-socialist system, which is how some have managed to build up capital in the first place. How smart do you have to be to take someone else's property and give it to your constituents. (just look at Chavez; now there's a nobel prize contender in economics, or Mugabe,champion of price controls, outlawed inflation and just started printing 10 mil. dollar bills worth $4.)

In the end, the ever-increasing class of non-tax paying workers will end up poorer and more dependent on gov. handouts. And there's one thing you can bank on, the handouts will keep shrinking, along with your dollars.

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Other reader comments on this article

Comment	By	Date
My concern is that many seniors after retirement count on their dividends and interest toward their income. I do hope... [MORE]	evelyn	Aug 29, 2008 14:19
What income does senator Obama consider rich? Taking into consideration whats happening to the American Dollar and the increase in... [MORE]	American tax payer.	Feb 23, 2008 16:48
I have recently read Mr. Obama's tax plan and I am scared to death. Who does he think is "rich"?... [MORE]	Dr Dave	Mar 4, 2008 10:10
I only make 60k a year, but its due to the fact that Ispent 5 years all day every day... [MORE]	Mark	Mar 4, 2008 19:13
"Shift" the tax burden to the wealthy? Are you kidding? Does Barack actually believe that the wealthy don't already shoulder... [MORE]	Greg	Feb 7, 2008 00:02
do any of you democrats know that anyone who inherits any piece of property will be considered rich by your... [MORE]	dev rios	Jan 26, 2008 10:42
Huey P Long would be proud. Don't remember Huey. He thought all income over a million should go to government.... [MORE]	bighat	Nov 15, 2007 10:31
I agree with Obama to a certain extent, that taxes should be cut for the elderly not making at least... [MORE]	terrgill	Sep 26, 2007 19:51
The rich would pay more tax? No they won't. So when Obama, or any politician, says (s)he is going to... [MORE]	A Grant	Sep 19, 2007 17:34
Obama's tax scheme is nothing new. We had something similar during the economic malaise of the late 70's. If he... [MORE]	dave esser	Sep 19, 2007 16:40
How many times will the demagogue liberals play the class warfare card before they learn that if you say "screw... [MORE]	Voldemort82	Sep 19, 2007 16:06
It appears that Barack comes from the Pelosi school of economics. Only really rich people have stocks, bonds, 401k's, etc.... [MORE]	gunfighter 67	Sep 19, 2007 16:02
Hey folks, your comment says that the "right" condemns the plan, it's plain and simple, JFK even knew that cutting... [MORE]	Carl H	Sep 19, 2007 10:21
I would be more in favor of our Congress being more watchful of the spending practices of the government and... [MORE]	Terry	Sep 19, 2007 09:45
Higher taxes mean larger government and more people becoming dependant on the government for support. More people in today's society... [MORE]	Scott	Sep 19, 2007 05:11
He knows that taking away the tax credits of the oil and gas companies will increase our gas bill at... [MORE]	Conservative Monk	Sep 19, 2007 02:48
Obama may be a smart candidate but is in left field about taxes and federal tax reform! Completely replace our... [MORE]	Robert J. Ransom, Jr. - ChFC	Sep 19, 2007 21:21
I think he needs to understand and define the concept of wealthy. What's "wealthy" today? A lot of people who... [MORE]	Julian	Nov 22, 2007 12:28
Just wait to see how the stock market falls when it's apparent he gets the nomination. Many times more...	Steve S	Jan 27, 2008 16:15
Obama's goal is to encourage non-rich people to become more prosperous, not to tear down the rich. He does this... [MORE]	greg	Mar 12, 2008 15:50

Reader comment on:Obama Would Shift Tax Burden to Wealthyin response to reader comment: Taxes on the Wealthy

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Reader comment on:
Obama Would Shift Tax Burden to Wealthy
in response to reader comment: Taxes on the Wealthy