Home Forums Hunting & Shooting Hunter's Campfire Obama tells University of Michigan,.. rich should pay more

Man this just makes me furious. Class warfare instigating bastard..! Read some of this, it will make your blood boil.



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President Barack Obama Friday told an enthusiastic crowd of students at the University of Michigan that extra taxes on millionaires should help subsidize their futures.

Without mentioning Gov. Mitt Romney by name, Obama used his campaign-style event to urge higher taxes on the nation�s most prosperous to reduce student loan-payments, increase student grants, fund universities and pay for high-tech research.

[b]�You�re the ones who need help,� the president told students gathered at the University of Michigan�s Al Glick Field House.

�A quarter of all millionaire [earners] pay lower taxes than millions of middle-class households� [audience boos] Is that fair? � does it make sense to you? � do we want to invest in things like� student loans and grants?�

He called on Congress to cut the interest rate on government loans to students, and said he had already limited graduates� monthly payments on government loans to 10 percent of their after-tax income.

When he announced the student-loan rollback proposals last year, education and financial experts said they would inflate the education sector bubble, and would leave millions of graduates with growing debts even before they try to marry or buy houses.

In the housing sector, a similar easy-credit policy gradually created a housing bubble in the mid-1980s. That bubble burst in 2008 and brought down the likes of Bear Stearns, Lehman Brothers, and American International Group.

However, Obama Friday used the continuing economic pain of the housing bubble as a reason for students to support his policies.

He did not mention the $4 trillion that he�s added to the national debt, nor the high unemployment rate, nor the slow economic growth rate.

Instead, he repeatedly cited the tough economy as a reason why students would need to rely on government aid and not on free-market solutions.

�We�ve got a different idea of America, a more generous America� than the one offered by his political rivals, he said, without stopping just short of naming GOP presidential candidates who champion the free-market, and who oppose Obama�s emphasis on economic direction by progressive university graduates.

�We�re not successful just by ourselves� Everybody here is only here because somebody [else], somewhere down the road, decided we�re going to think not about ourselves, but about the future,� he declared.

But, he declared, �we can�t do everything� we�ve got to choose� between extra taxes or government programs for students.

�Either the deficit will go up and you guys are going to have to pay for it� or some seniors, [or a] veteran has to pay the bill, or students have to pay higher interests charges,� the president said.

One quarter of millionaires pay a lower tax rate than their secretaries, he said. �Asking a billionaire to pay at least as much as a secretary in taxes is just common sense,� Obama said, citing quasi agreements from billionaires Warren Buffett and Bill Gates.

Obama�s one-quarter claim comes from research showing that roughly 95,000 millionaires earn much of their money via investments. Passive income earned from investments enjoys a 15 percent federal tax rate, whereas individual federal income tax rates range from zero to 35 percent.

Overall, the top 1 percent of earners paid 37 percent of all federal taxes in 2009, according to the National Taxpayers Union. The top 5 percent of earners pay 59 percent of federal income taxes, and the lowest-earning half of the nation�s taxpayers paid only 2.25 percent of income taxes, according to NTU�s study.

The number of millionaires in the country has also declined sharply since 2008 and critics caution boosting the tax rate on investment income would slow investment, lower tax receipts, widen the federal deficit, and increase unemployment among new graduates.

It seems like he's doing his darnedest to stir up civil unrest - one class against the other - so as to achieve a 'boil-over'...

He's makin' Jimmah Cahtah look better than ever..

"He's makin' Jimmah Cahtah look better than ever"

And that my friend, is scary!

My response to all that stuff is that the rich CAN pay more, if they feel it is needed - and this includes Obama. If they feel so strongly that the federal government needs their money more than they do, they are free to give it to them.

Just read yesterday that Obama had something like $1.7 million in income for 2011 (not bad for a $400,000/year job ), yet he only paid 26% himself, still WELL shy of the 35% figure that he likes to toss around when saying the others (i.e. Romney) aren't paying their fair share.

He's pandering to the "poor" college kids right now, but just wait a few years, until they actually put those educations to work and start landing some well paying jobs. I wonder how many will realize what they did, to themselves, if they vote for this dude again, and then wonder how to start sheltering and deferring....

Take away from me to pay them.


I'm sure they are gonna love it.

Not to mention what I have pointed out before when they start tossing around percentages, and brackets, and "fair share".

Let's just use round numbers to make it real easy...

A guy makes $50,000/year, and "should pay" 10% of it in taxes.

The other guy makes $500,000/year, and "should pay" say 20%, to be "fair".

Do the math, and see who pays more, bottom line, even if the second guy pulls all the strings, "abuses the system", and gets it down to 5% (half of the lower earning guy).

Then let's start talking again who "isn't paying their fair share"....

When you compare bottom lines, and the amount actually taken out in the end, the guy making more will always be paying more, regardless of percentages and brackets.

Boy, he's definitely doing some major sucking up for the naive college student vote. Unfortunately it will work on a large majority of them.

college students won't vote en masse. They're always viewed as a bloc, but they don't show up.

Hope you'er right.

Imagine how many kids could go to school and have their parents pay for it if he quit running the economy like the titanic.

He is right. College students have a very low voter turnout record.

They don't have to Doc. This is a strategy. Most of us are not the so-called 1%ers. If the POtuS says they are the bad guys enough, it becomes believable.

Barry has no interest, politically (and probably not personally) to get citizens to strive to improve their lot, but rather take it from someone else, because it is "deserved".

it's all about vote-getting.

Obama's 8====D

uh-huh

I was just getting started when the peanut farmer took the helm. I NEVER thought I would be alive to see a worse example of a president. I could see after the first two days of bambam's reign that I was wrong . . . Does that mean I'm living the American dream, or the American nightmare???

Get ready for a wealth tax. I.E. after they've taxed you on your income and capital gains, that still won't be enough to support the welfare state so, they'll look at all of your bank accounts, stocks, bonds, IRAs, and 401Ks and "assess" an amount that you "owe" for committing the crime of wealth accumulation in the first place.

This has to be one of the least shocking thread titles of all times.

Couldn't care less. I ain't paying their tuition. You guys can if you want. I think the class warfare strategy the dims are using is a good way to get things straightened out and I mean sooner the better. The college kids need another lesson like Kent State from the Fire guys kids in uniforms. Let it start with the younger ones first and let it grow into what it will.