Obama: Payroll Tax on Incomes Above $250,000

[wingnut4427]

Perhaps We should all declare our homes a church & avoid taxes all together. lol After all The Bible states "Where two or more are gathered in my name, there will I (God) be also. SOOOOoooo ... wouldn't that By it's very definition be a church ??

[Cronaldo77100]

how am i a idiot, my dad got a md from harvard and he happens to making a salary in the top 3% of the U.S. People in this income bracket worked to earn what they have, it usually was not just inherited wealth. Also I am definetly not a idiot, i attend a top 20 university and don't pick fights online to get over the fact that i work as a barista at starbucks, blaming rich people for my problems and writing a memoir that nobody will read.

[Cronaldo77100]

CLARUSVISUM, the wealthiest 3% do have to pay social security, this just means that they will have to pay more money out of their bank accounts to subsidise poor people. What is weird about this video's comments is that everyone is so against people being successful. Someone who makes 250,000 makes that because they work hard, I'm not saying a factory worker does not work hard, but a doctor went through a whole lot more to get to where he is today.

[mrblob20]

@Cronaldo77100 the people who make the most money don't do any work at all, you stupid idiot.

[coolbji]

fuck you obama, that 3% is us and im pissed cuz my hard working dad, who has worked his whole life to get where he is, is now paying for a mexican immigrant to get healthcare..... i dont give a fuck if they get sick, there always will be poor people and thats the way it should stay

[RPGonline2]

@coolbji Aren't you a cool little white kid? If your dad is hardworking, chances are he doesn't make $250,000+ a year....and if you are, you pay more taxes honorably, because YOU ARE INCREDIBLY RICH. You probably live in some mansion you don't need either. Spoiled ass....

[mrblob20]

@coolbji Your dad got rich because of the country you live in. Poor and middle class people are a part of that country. Before your dad was rich, he might of relied on safety nets: public education and EI...

[jeffm8440]

Government spending is filled with pork earmarks like this: The National Institutes of Health will pay $2.6 million in U.S. tax dollars to train Chinese prostitutes to drink responsibly on the job.

[djar63]

Tax freedom day is the end of June. You work 1/2 a year just to pay taxes. WE don't need a 13 dollar a week cut. We need a new tax system and less government spending. If the government didn't spend so much money we would be able to afford our healthcare and a have a lot left over. But for them to keep power they have to keep you broke.

[JPM0TU]

AND, AND, AND. Our taxes will go up further because you, Mr. NObama, will let the Bush tax cuts expire in 2010.

Guess what folks, our taxes are going up!!!

[TheNation123]

only if your making over $250,000

[JPM0TU]

He recently signed into law H.R.2., which is a tax on cigarette. Guess what, those individuals who smoke just saw the cost of cigarettes increase 25%. Ummm. Most of the lower income people smoke. They make less than $250K.

Can we say tax increase??? You Betcha!

[KripDrip]

rich people smoke too! 

[mrblob20]

@JPM0TU Nah, smokers aren't people.

[tippership]

XYZ Plumbing Income $ 51,000

Employee #1 $ 50,000

Employee #2 $ 50,000

Joe the Plumber $249,000

Since no one, or company is making over $250,000 No one gets a tax increase.

Simple Business economics 101

[Death18s]

no no no it is not after pay it is your raw income before taxes, before pay day and before buying equipment

[tippership]

tax would be for Net income over $250,000, So lets see. Joe buys the business. Say it earns $450,000 Gross. Then Joe takes the Salary of his employees out, say he has 2 at $50,000, that drops the income to $350,000, then you take out expenses. Say another $50,000 Gas, Advertising, equipment, etc..., Next, Joe pays himself $249,000. Leaving a Company profit of $51,000. Now if Joe has half a brain, he incorporates. separating the corporate income from his own...So lets see

[dave576m]

He said it was "what was attempted and failed under GW. Bush"...duh...the democrats stoped him. The economist at the CATO institue point out that his would have saved social security if it had passed. His plan involves dramatically increasing taxes on people making 250000, which will end up causing unemployement to shoot up to jimmy carter levels. Which will also cause less people paying into social security, which will cause social security in the long run to be worse off.

[01Rae2U]

obama is an idiot. He plans on taxing the long term tax payers who hire long term tax payers. privatizing our benefits would be a better investment, HE IS LYING TO YOU!!!!!!

the dow goes up and down, our benefits are LONG term. He thinks you are stupid.

are you?

NO Obama

VOTE McCain/Palin 08'

Because we cant afford obama

[tippership]

this is wrong ,because it will only be buisunesses that make WAY OVER that amount that will actually pay under him..... and the proof is in my comments on this vid

btw, im a student taking economics classes, i kno what im talking about..

anyway, look at my comments...

[TonyaTko]

Nice Video!

I did one too about this whole debacle. I will send it to you. Tell me what you think.

-TonyaTko

[hgarbow]

This jerk has no idea of the tax code or anything else financial. He has never put together a budget. If you raise tax on business you raise tax on everyone. Business passes on that tax to you in the form of a price. so everyone gets taxed. And this fool is trying to scare the social security group. Does he think we are stupid.... This man hasn't done anything substantial, he is a part of the chicago dirty political machine.

[guitarfreakstyle2]

$250,000 is not a lot of money these days whats Obama thinking? I live in Southern California and theres no way you can afford a mortgage, the cost of raising a family, groceries, utilities, and other necessities with an annual income of what Obama considers Middle class. Obama will annihilate the middle class with his tax plan and get Americans dependent on government assistance programs if anything. Plus more jobs being outsourced.

[mark99501]

Sorry god may have blessed america,but allah blessed the arabs with all their oil,now who is really blessed.

[waslookat1me]

we are because God is real allah is not

[tomscaters]

so that must be why in the U.S. have an estimated 1.5 trillion barrels of oil in the green river formation, which will give us enough breathing time in order to find alternative means of energy. Oh totally forgot, we also have Northern Alaska if that bitch pelosi will allow our congressmen to vote on a bill to start drilling. Your politicians fucking you over :)

[CrowdPleeza]

Since social security is a system where you get what you put in then wouldn't lifting that cap cause the rich to benefit the most from social security in comparison to lower income people who need it more?

[duque501]

this guy is repeating all the time that if Bush did it, it is bad because it was done by him, with no other explanation, I am not that dumb, give me a complete explenation senator Obama, I studied really hard and I feel you are trying to fool me with those inconsistent arguments.

Thats ridiculous and insulting.

You seems to be a 360 degree change.

[duque501]

This guy has no idea of economy, he is just saying what divisive polititians (Chavez)like to say to win elections, less for the rich and more for the poor people. Life and the economy is more than that. You got to give incentives to the economy, to the small and medium size business.

He is trying to divide the country with his allegations, poor against riches, it is for everybody, we all have to give something. And increasing the size of the government is the worst idea ever.

[ProudAmer08]

Maybe Obama should hire you as an advisor.

May God bless Americans Only!

[iampaulstephanus]

yeah mbvtx77, I really think he would be taxing the actual income and not the gross income. there are enough people in America actually making over 250,000 to cover the money needed for the social security debt. He is obviously not an idiot and wouldn't be taxing small business owners. Come on. Where did you even get that information?

[mbvtx77]

does obama have any idea about the trillions of dollars that the government has stolen out of social security???? hell no he doesn't want to privatize it. if that happened then where are the big spending liberals going to be able to steal money from? there are basically 500,000 i.o.u.'s with a democrats name signed at the bottom scattered all over washington d.c. so basically obama is telling us that we're to stupid to handle our own retirement so the gov. needs to do it for us. give me a break.

[CBERASTUS]

I'm sorry folks, but all of the negative rhetoric must stop! You are forgetting that Affirmative Action is the 'law of the land' now...and has been for nearly forty years. Mr. Obama is black, so therefore we should lower the bar for him. As a matter of fact, we should also give him free tuition, subsidize his family, and most importantly...GIVE HIM AN UNDESERVED JOB!!!

[jakesunrider01]

I cannot vote for Obama.

I cannot vote for a LIAR. He lied abut his mother, father and an uncle who does not exist.

I cannot vote for a delusional person. He went on and on about an uncle freeing jews at a Nazi death camp. He has no uncle.

I cannot vote for a RACIST. Just listen to his good friends Rev Wright, Rev Farrakhan.

I cannot vote for a MURDERER. He stopped legislation that would protect babies who survived abortion. Now they r thrown in a med bin to die alone.

Jake

[mbvtx77]

obama is such a dumbass! my God he can't be our next president. mccain isn't much better, but he's the lesser of the two evils.

[mbvtx77]

small business is the backbone of america. most small business owners making around 250,000 a year are already struggling. so go ahead obama. put the little man out of business you son of a bitch. break the backbone of america. tax, tax, and tax some more!

[theimpossible15]

The little man is making 250 grand? Are you out to lunch?

[mbvtx77]

i'm talking about the gross income of a small business dumbass. not the net income of a single individual. i own a small business that i just started about a year and a half ago. the business grossed about 310,000 last year. i brought home around 35,000. i can't afford to go out to lunch.

[jarjarbinx79]

then you are in the 35 000 bracket and not in the 250 000!

[mbvtx77]

obviously you people don't get it. he's talking about small business owners that have a business that gross 250,000 a year. what the business owner nets is irrelevant. it's the gross income of the business. that's what will be taxed, which makes the owners profit margin even less. and most small business are already struggling to make it. all you people like jarjarbinx79 and theimpossible15 are the people that are voting for obama. you are the people that just don't get it.

[mbvtx77]

so even though i'm only making about 35,000 personally my business is grossing 250,000. so yes i am in the 250,000 bracket. understand what the candidate that you are supporting is talking about before you start defending him. this is the problem with the obama supporters. i'm not going to call any of you stupid, but you're not real informed on his policies.

[jarjarbinx79]

its only payroll tax, where did you find out that he will tax the gross income?

[powertworeach]

Check out this youtube (Remember when the Clintons was in office) real talk

[USVeterans]

Yea, tax my boss so he has to lay me off. Thanks buddy!

[doverbenjamin]

That's a very narrow view friend. The money has to come from somewhere.

You have two basic choices.

(1) Direct from taxation.

(2) From private investment/superannuation.

The problem with private superannuation is this. It's not direct. Fundamentally, there is another layer of people (a whole industry in fact) expecting a competitive return on their shareholdings.

The money to provide that return ALSO has to come from somewhere. Which do you think is a bigger drain on the economy?

[doverbenjamin]

And before someone says it... I'm not a "tax the rich" guy. There should be one tax rate for all.

Taxation would cost the country much less if it was simpler.

[ClarusVisum]

Why should the wealthiest 3% not have to pay for Social Security like everyone else?

[TBucker]

@ClarusVisum THEY DO!!! You have no idea what you're talking about!

[TBucker]

@ClarusVisum In 2008, the top 5% was burdened with 58.72% of total federal income tax revenue. In 2007, the top 1% payed MORE than the bottom 95%!!! GET A CLUE!

[ANPRED]

@ClarusVisum Why should people who have worked hard for their money have to give their money to the lazy drunk homeless man under the bridge?

Also I see you commented on this video 2 years ago.. So how is Obama going for you?

[bestwayusa1]

Mountaintop removal, check it out!!! Keep up the information.Are the mountains on Americas National land. If so shouldnt the America people be able to vote on this.

[DigiLusionist]

What is it about the Left that they are determined to levy punitive taxes on everyone? Especially on the successful.

They have mismanaged our money for eighty years. Why the heck should we give them even more!?

Obama is a kook.

Lucky for gungagin, he isn't proposing a tax on the stupid.

[gungagin]

Tax the rich and tax the CHURCHES

[deluxchixbone]

God no , please Obama no more taxes!

Ged rid o S.S. and let me invest my own money!

It is my money RIGHT?

Let me keep it !

No more socialism, and no more speculation present the facts sir!

[SugarMonkey528]

What is so wrong with "Privatized Social Security"? I mean, isn't it, wasn't it, our money to begin with? The gubment steals our money, then says we can't be trusted with it. I think it's the other way around. The gubment can't be trusted with MY money. It's mine. Let me spend/save/give it the way I want to.

[markakapops]

Really , its my understanding that federal employees do not have to pay SS, is that right. If it is , why not allow us the choice to put our hard earned money into other legitimate 401 k . I support the senator, but I do hope he realizes that "long term" the stock market has shown a positive return on your investment and to mention the current trend as a reason why not to invest in money markets , is misleading and not financially sound advice.

[vigilance77]

Obama, what about "the one percent" living here in America? What about the tax cuts for the huge corporations? Don't tax people even more than they already are!! I resent the hell out of paying the taxes we pay when you look at what they are paying for!!