Anonymous
Anonymous asked in Politics & GovernmentPolitics · 1 decade ago

How come Obama has his millions in a "quasi-blind trust" -- exempt from his "tax the rich" plan?

First hard numbers on the Obama Tax Plan show a dramatic redistribution of wealth according to a new Tax Foundation analysis.

In Tax Foundation Fiscal Fact, No. 132, Tax Foundation president Scott Hodge uses revenue estimates from the Tax Policy Center to show that Obama's plan would greatly accelerate the decades-long trend toward a federal government that depends for tax revenue almost exclusively on a few high-income people.

This contrasts starkly with the McCain plan, according to Hodge, which would give every taxpayer a cut and leave the current tax burden distribution approximately where it is.

"Under the Obama plan for 2009," explains Hodge, "more than $131 billion would be redistributed from the top 1 percent of taxpayers to all other taxpayers."

Update:

Is any liberal going to actually ANSWER the question?

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  • 1 decade ago
    Favorite Answer

    notice how they attack or insult you rather than answer you,typical liberals,they just refuse to admit that they are lazy and want to get what they did earn.

    Just because someone is wealthy it is not right to punish them for it,most of the rich people in this nation have actually worked their whole lives to get where they are,and liberal want to benefit from the sweat,blood and tears of others,once agian shurking the need for personal responsibility,thye would rather just take from others.It all boils down too laziness and jealousy of someone else. And before you they try to say it no I am not wealthy,I am am of average income,but I do not expect or want someone else's money,if I did not earn it then I do not deserve it.

  • 1 decade ago

    You've asked one question and then supported it with an unrelated rant with a quote that is two years old and no longer relevant.

    If Obama has his millions stashed away for safe keeping, he's doing what every other wealthy person does so it's really a non-issue.

    As for your rant, the wealthy have always paid more because they have more. Whether or not anyone thinks that's fair is doesn't change the fact that we've have a progressive system for a very long time now.

  • sure, 130 billion would be redistributed, but that 1% has $19 Trillion in wealth. They would lose a whopping .6%

  • A Guy
    Lv 7
    1 decade ago

    A link to the "fiscal fact"

    http://www.taxfoundation.org/files/ff132.pdf

    And corporations are legally "people", the supreme court said so.

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  • Anonymous
    1 decade ago

    people still believe in the government?!! those faces you see on tv are puppets to back room deals trickled down from power blood lines that are not interested in making your life better. Its about stripping us of our freedoms so they can be less paranoid about losing power. They have been saying things are going to change for the better for 10 years and they have only gotten worse and fast! It doesn't take a genius to understand that only a world war or super natural disaster to restart all economy can fix the worldwide financial crisis. There's only so many ways to risk improving YOUR quality of life. Forget about all those numbers and faces you see on tv, only YOU can make YOU happy, not some power tripper that wants you to be overworked and underpaid with less freedoms than ever so they can indulge on getting richer while the poor get poorer.

  • 1 decade ago

    It's time we went back to the 1950s taxes of 91% for the top bracket

  • 1 decade ago

    Because 0bama wants us to pay taxes, like turbo timmy he avoids them at all costs

    Source(s): May God Bless you and keep us all safe from the progressive axis of evil,0bama,Pelosi&Reid
  • 1 decade ago

    As the Economy was falling, McCain stated that the "Economy was strong". I don't agree with any plan he may or may not have simply because he is incapable of independent thought.

  • 1 decade ago

    Your on Lost In Space.

  • Anonymous
    1 decade ago

    He talks the talk but hides his cash before the walk .He is just more of the same just a different color.

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