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28 March 2008
Who was the last Presidential candidate to talk about how much they were going to raise taxes prior to the election? Was it Dukakis? Or was it Mondale? Or was it McGovern?
We know it’ll be Barack Obama.
The current tax rate on Capital Gains is 15%, Barack feels this is too low. In an interview with NBC’s Maria Bartiromo he expressed his desire to raise this tax, 28% would not be too Confiscatory is the phrase he used, an almost doubling on the tax.
20% or 25% might do, but 28% would not be Confiscatory.
Interesting choice of words, Confiscatory. Isn’t all taxes confiscatory?
I think this is rather arrogant. It’s not noble, it’s not being real, it’s not smart.
Does he feel so secure in his status that he can flauntingly announce how and where he is going to raise taxes? When Americans struggle to pay $3.50+ for gas and home heating oil? When Americans realize their real tax rate is 40%+.
At what point does the total amount of taxes that Federal and State Governments collect become Confiscatory?
Those Democrats lost in a landslide, partly because the electorate realized they were not strong on holding the line on taxes.
Barack will lose in a landslide.
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One Response to “Obama: A 28% Tax Would Not Be Confiscatory”
March 29th, 2008 at 5:43 pm
From your lips to God’s ear.