Obama's Tax Raid on the Rich Only Impacts the Working Rich
(c) 2012 by Tom King
Did anyone notice that the only "rich" people that got a tax increase were the working wealthy - the ones that actually draw a paycheck or make a profit.
The already rich, the hereditary rich and those who have already made their pile (all of whom heavily support President Obama) didn't get any kind of meaningful tax increase because capital gains only went up 5% and manipulating and hiding capital gains earnings is really the easiest kind of income to avoid paying taxes on when you have teams of tax accountants and lawyers.
So Warren Buffet didn't get a tax increase even though he asked for one. George Soros didn't get a tax increase even though he asked for one. The Kennedys, the Rockefellers, the Chases, the Morgans and the Astors didn't get a tax increase. Most of the rich people who supported President Obama's campaign heavily didn't get a tax increase.
Oh, what a surprise!
I'm just sayin'
Tom
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