I'm just wondering where that trillion dollars is going to come from because Americans can't squeeze blood from a stone. If he taxes us to death, won't that worsen the economy?
Asked by Anonymous at 11:34 PM on Dec. 23, 2009 in Politics & Current Events
Answer by LoriKeet at 6:53 AM on Dec. 24, 2009
Answer by onthegoturbo at 11:48 PM on Dec. 23, 2009
Answer by pvtjokerus at 11:54 PM on Dec. 23, 2009
Answer by waldorfmom at 12:37 AM on Dec. 24, 2009
Answer by KellyParadise at 4:27 AM on Dec. 24, 2009
Answer by Carpy at 5:32 AM on Dec. 24, 2009
Answer by SophiaofLight at 6:11 AM on Dec. 24, 2009
they are increasing taxes by 6-8% on those who earn 500K + a year.
As of 2005 the average taxpayer making over $500,000 per year earning approximately $1.7 million. This group of taxpayers in 2005, numbering 828,323—around 0.6 percent of those filing tax returns—hauled in around $1.4 trillion in income that year.
To put the above figure in perspective, the $1.4 trillion in income received by the richest 828,323 taxpayers is roughly equal to the combined reported income of the poorest 81 million taxpayers, or 60 percent of the total number of returns in 2005.
There are over 300 MILLION people living in the US. 0.6% of wealthy tax paying people CANNOT support ObamaCare with a 6-8% tax hike--unless of course they fork over their ENTIRE earnings to the IRS!
Answer by LoriKeet at 7:07 AM on Dec. 24, 2009
Taxes will be collected for the five years before this piece of shit will go into effect and actually have a chance of helping anyone. Unfortunately, as the masses of people that start retiring (baby boomers), they will get on the medicare system. All of that tax money that is supposed to be stockpiled to help the lower and lower middle classes will be soaked up by those entering the medicare system. When they see how much money is being drained, taxation of the middle class will dip to even lower incomes to cover the cost. Medicare is already going bankrupt, the only thing this does is keep it from happening in the next 5 years. After that, they can amend their bill to suit smaller incomes to pay for those that were looking forward to the benefits. And if anyone thinks this won't amount to limited care, they are dreaming. JMO.
Answer by QuinnMae at 9:36 AM on Dec. 24, 2009
Answer by NotPanicking at 10:09 AM on Dec. 24, 2009
Next question overall
How can u get a 17 mos old to go to bed on her own?