Wall Street Journal - Taxing Wealthy Won't Work

This report indicates that even if those who make over $250K per year were taxed at 100% there won't be enough revenue to cover the costs of the Obama plan:

http://online.wsj.com/article/SB123561551065378405.html?mod=djemEditorialPage

Gee,who would have thought that the Wall St Journal would be against it? Couldn't be that it's just a wee bit partisan considering it's owned by Rupert Murdoch,could it?

Do you dispute the numbers they present?

Correct me if I'm wrong but those numbers that the WSJ is dazzling us with are for only ONE year, yes?

Who said that it's all going to be solved on ONE fricken' year?

I know Barry didn't say that.

The article, if you read it, is about covering the annual budget, not the deficit.

Say what?

I see it's about his "expensive domestic agenda"

Where does it say it's about his "annual budget"?

"the more than $4 trillion Congress will spend in fiscal 2010. Even taking every taxable "dime" of everyone earning more than $75,000 in 2006 would have barely yielded enough to cover that $4 trillion"

Robin Banks wrote:

Do you dispute the numbers they present?

I noticed there was no mention of the 2 trillion in savings that Obama mentioned.

Even the OMB office stateds that his projections are ona best case scenario, and are based ona very optimistic view of the economy.

Take real life into Obama's fantasy, and guess what, taxes will end up going up for more than the supposed top earners. I say the thresh hold for tax hikes should be right around $169,000/yr.

Why that amount? Thats what a Senator makes, make them pay more in taxes as well, instead of always avoiding the tax increases


Also, since Congress and the Senate are telling people the big spending days are over, when are they going to volunteer to take a paycut to help the country recover?

mike3775 wrote:

Even the OMB office stateds that his projections are ona best case scenario, and are based ona very optimistic view of the economy.

Take real life into Obama's fantasy, and guess what, taxes will end up going up for more than the supposed top earners. I say the thresh hold for tax hikes should be right around $169,000/yr.

Why that amount? Thats what a Senator makes, make them pay more in taxes as well, instead of always avoiding the tax increases


Also, since Congress and the Senate are telling people the big spending days are over, when are they going to volunteer to take a paycut to help the country recover?

Or how about just pay their taxes like they are supposed to??? Strange concept, yes I know...

All this talk of raising taxes really makes me wonder why the hell I am going back to school, busting my azz to better my family's life? I could just sit at home watching Jerry Springer and court tv all day eating bon-bons and wait for Barry to take money from the other working schmucks and hand it to me. I might just have to rethink all this...