President Obama
Obama budget targets tax revenuesPosted by RJ and Makay on Feb 13, 2012 |
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President Obama proposed today that the Alternative Minimum Tax (AMT) category be replaced by the so-called Buffett Rule, which targets wealthy Americans. The AMT, which was adopted in 1969 to target wealthy Americans that paid little or no taxes, was never indexed for inflation, so it eventually impacted more and more middle-class taxpayers.
Obama support may be dwindling on Wall StreetPosted by RJ and Makay on Jan 12, 2012 |
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President Obama’s $35,800-a-plate fundraising dinner last week on the Upper East Side of New York was conspicuous--not for who was there, but for who did not attend. No-shows included Jamie Dimon, Lloyd Blankfein and Richard Parsons. Some observers believe that Wall Street has spurned Obama for his anti-business rhetoric and “fat cat” references about bankers.
Democrats propose 5.6% surtax on millionairesPosted by RJ and Makay on Oct 07, 2011 |
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Senate democratic leaders yesterday proposed a new 5.6% tax on people that earn more than $1 million a year to fund the cost of President Obama’s $447 billion jobs bill. The millionaire tax would replace an earlier Obama tax proposal to offset the jobs bill cost, and drew fire from both Democrats and Republicans. The earlier tax package had also included limits on upper-income deductions for mortgage interest and charitable contributions.
Henry David Thoreau (American Essayist, Poet and Philosopher, 1817-1862)
