False: Although Obama said, "I think when you spread the wealth around, it's good for everybody," that is not the focus of his tax plan.
Barack Obama's tax plan will spread the income around, and has very little affect on wealth.
Reviewing his plan, the only provision I found affecting wealth was the reinstitution of the estate tax, which does not impact the truly wealthy. Although the estate tax will be paid by people like Joe the Plumber, Todd the Fisherman, and Charlie the Talk Show Host; folks like Bill the Software Magnate, Warren the Investment Tycoon, and Oprah the Media Conglomerate will shield their wealth from the estate tax by creation of trusts.
Barack Obama will shelter his wealthy friends from wealth redistribution, but will seize the ordinary income, interest and dividends, and capital gains of working Americans. That seized income will be given to Barry the Community Organizer, Bernadette the Bomb Builder and other slackers with a huge senses of entitlement.
Consider this myth to be busted. The truth is even worse.
Arizona Frybread
12 years ago
2 comments:
Bill the Software Magnate, Warren the Investment Tycoon, and Oprah the Media Conglomerate will shield their wealth from the estate tax by creation of trusts
...copying word-for-word the language in the Kennedy & Heinz/Kerry trust documents.
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Recently an insurance company nearly wind up....
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A bank is nearly bankrupt......filing chapter 11 protection.
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How it affect you? Did you buy insurance? Did you buy mini note or bonds?
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Who fault?
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They bailout trouble finance company, but they will not bail out your credit card bills…….Should they have use the bail out $$ to pump into all different industries instead ……You got no choice, and no point pointing finger but you can prevent similar things from happen again……
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Are you a partisan?
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Since the bailout already done, the question now is besides letting the economic back on track, what regulation should be done to prevent similar things from happen again…..
Eg.
The top management of the Public listed company ( belong to "public" ) monthly salary should be tied a portion of it to the shares price ( IPO or ave 5 years ).... so when the shares price drop, it don't just penalise the investors, but those who don't take well care of the company.....If this rule is pass on, without any need of further regulation, all industries ( as long as it is public listed ) will be self regulated......because the top management will be concern about their own pay check…… Instead of spending big money on hotel stay and luxury function……..Top management get monthly salary and director fee, while shareholders & investor get dividends….So those shareholder cum management get…..
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Whenever anywhere, anytime, there is election campaign.....We can use this to question your candidate there….. if you agree on my point, please share with many people as possible.... Finance and Media are the two only industries can shaken politics ( Maybe Hackers can ), please help to highlight also...
Also recently some comments say that Respectable Mr Buffet had start buying, yes, he started buying with guarantee return of 10% annually….. Do we individual investor had the same offer…. If yes, I will definitely join in and buy……and the institution will definitely wouldn't short of money if they offer the same terms to the individual investors..... When ever in the history previously did Mr Buffet claimed that he bought shares.....
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Blog
http://remindmyselfinstock.blogspot.com/
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Facebook, come and join as a friend and share with your friends…..
Remind.myself@yahoo.com
Eg:
Just image, Institution lent out the shares already, in their hand, they don't have any stock or shares already, but Institution know that in the market, there are those individual investor who borrow the share going to sell the stock, so Institution naked short also, because there is no restriction on those Institution that those stock or shares that lend out, cannot be trade by the institution at that moment.
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