Yahoo Answers is shutting down on May 4th, 2021 (Eastern Time) and beginning April 20th, 2021 (Eastern Time) the Yahoo Answers website will be in read-only mode. There will be no changes to other Yahoo properties or services, or your Yahoo account. You can find more information about the Yahoo Answers shutdown and how to download your data on this help page.

Obama to take from the rich and give to the poor?

Do you think Obama's tax plan is good?With his plan the poor will not pay social security tax but raise the tax on people who make more then $250,000.Now I don't make that much money but I will still pay a lot of ss tax(around $7000 per year the last couple of years) and feel this isn't right.Social security was never meant to be a welfare program but a program that you pay into,with Obama's plan social security will soon be broke.

Update:

I can't believe how many people think this is a good thing.Come on people wake up this is a form of welfare and isn't what SSI is meant for.

22 Answers

Relevance
  • EDWIN
    Lv 7
    1 decade ago
    Favorite Answer

    The Socialist Party... oops, Democrat Party has always been the party of "income redistribution". The truth is, income is not "distributed" like newspapers or milk or anything else, excepting Social Security and welfare checks. Income is EARNED.

    Nobama has promised to let the so-called "Bush tax cuts" expire. An intelligent person will immediately go to the IRS web site and look at the income tax tables from 2000 to the present. You will see that the lowest rate was 15% BEFORE Bush and 10% AFTER. Let them expire as Nobama has stated and the lowest income earners effectively get a 50% tax INCREASE.

    Additionally, don't be mislead by moronic statements such as "Household income has A) stagnated or B) fallen over the past 5, 10, 20 years." Why is such a statement misleading? Simple. A "household" can be 1 person, 2 people, 5 people - however many people happen to share a common address at a point in time. So comparing "household income" is as relevant as comparing apples and oranges.

    Also, ignore the banality of the tired saying "The rich get richer and the poor get poorer." That might be true if you were talking about static figurines but people are not static. People are dynamic and over time the majority will occupy several plateaus along the income earning curve. Today's minimum wage earning student should, in 5 to 10 years, be earning considerably more. Today's high-paid executive will retire and statistically see a marked decrease in income. People are fluid and move between income levels throughout their lives.

    Another favored "statistic" of the income redistributionists is the apparent "income disparity" between the bottom 20% and top 20% of income earners. Here again, the comparison is between apples and oranges. Why? How? Simply because their are more income earners in the top 20% than in the bottom 20%. The fallacy is to think of each 20th. percentile as representing an equal number of wage earners when the reality is quite different. In addition to having numerically more wage earners in the top 20%, those in the top 20% also tend to work more hours than those in the bottom 20%. Its as though you and I worked for a company that paid us each $20 an hour, no overtime and let us set our own hours. You might decide to work 60 hours a week and I might decide that 40 hours was plenty. Who makes the most? Is there anything "unfair" about it? Of course not.

    Educate yourself and you won't be a victim of the Socialist Democrat babble. Read these books:

    "Basic Economics: A Citizen's Guide to the Economy" and "Economic Facts & Fallacies" both by Thomas Sowell. Sowell has a PhD in Economics yet has written 2 economics books without all the jargon and charts and graphs. Just a plain English explanation of a subject of vital importance. I believe that if those 2 books were used in our high schools we'd be a better country.

    McCain/Palin 2008

    Socialism/Obama NEVER!

    Source(s): 61 years of living and studying and learning.
  • Anonymous
    1 decade ago

    Once again, the lazy human mind so many have fails to realize that not ALL people on Welfare and Social Security are lazy.

    Yes, there are very many people out there who just live off the system, I personally know some and am disqusted by them.

    However, remember that there ARE those who legitimately need help, who worked very hard prior to their misfortune that led them to having to have government aid.

    But need I remind you that Capitalism has a major part that virtually everyone misses?

    The goal is not to make money so you can live in a fancy house and have six cars-but to live prosperously and give back to the community to help others who have not been as fortunate so they can have enough to stand back up on their feet.

    Will you discard all government aid and leave the honest in the streets with the dishonest? That would be cold.

    Do you not give to charity? Or do you never do so because of the chance that that money will be misused?

    Possibility 1-

    You pay extra to help with government aid. The just and the unjust both benefit from this.

    Possibility 2-

    You pay less to help with government aid. Both the just and unjust suffer as a result.

    Is it worse to risk giving something to someone undeserving?

    Or to cut off giving someone something who deserves it?

    When you look at it in that light, you see that you should be obligated to help, even if there is a possibility that that help will be misused.

    It's called having humanity-you should try it sometime.

    And besides, how many of you make $250K+ a year anyway? That's what I thought.

    Source(s): Having a soul and a mind.
  • 1 decade ago

    Any government has always been taking from the rich and giving to themselves with little leftover for the poors. If you do not believe it, just look at how much has been spent on Iraq and Afghan wars and those legistors' own pet projects everywhere.

  • Anonymous
    1 decade ago

    35% of Americans pay no Federal Income tax now. What Obama wants to do is to give you income tax credits to apply against you income when you do your taxes. If you have any tax credits left after reducing your taxes to zero Obama will give you a check for the left over credits. In other words not only will these people pay no taxes, the tax system is going to pay them!

    It is an entirely new form of welfare hidden as part of his tax plan.

    So when he raises taxes on Joe the Plumber he is not going to use that money to pay for his new programs he is taking it from Joe the Plumber and giving it to Bob the Bum!

    Obama is not just asking the succesfull to pay what he thinks is their fair share he is using the tax code to redistribute the wealth!

    That's Socialism,

  • How do you think about the answers? You can sign in to vote the answer.
  • 1 decade ago

    His tax plan is just "eye wash" and will never happen the way he is trying to hoodwink people into believing.

    Social security was originally designed to assist widows, surviving children, the disabled. and elderly. Now it is hard to figure out who gets it.

    Social security will be broke so if it is to continue the money will have to come from somewhere (that will be taxes).

    I know elderly people who should get social security, but don't because of cute little restrictions that have been placed on the program by dems so they could go into the fund for their welfare programs.

  • ?
    Lv 7
    1 decade ago

    His plan is bad. It will make anyone with money and sense put their money and business out of our borders. The "rich" didn't get that way by being stupid. They are not simply going to give away all their money just because Obama says so.We will ALL pay any tax he comes up with. Mostly in higher prices we will have to pay for goods and services.The profit margin of the rich will stay the same.

  • 1 decade ago

    Obama will take from the struggling middle classes and give to the rich (his Italian suit wearing buddies) and the poor and to Africa and to anyone who kisses up to him. He does not like or understand the hard working Middle Class America but sees it as a cow to be milked to death to shore up his self esteem and to enrich his buddies like his campaign finance chief Penny "Sub Prime" Pritzker for one--maybe he will even give her back the US$485 million her company got fined for mortgage fraud!

    Source(s): WSJ
  • 1 decade ago

    Obama's plan is not the cause of the breaking of the Social Security program. It has been in shambles for some time. The plans set out do not adequatley cover the cost of living.

    By providing preventive care and treatment, and making green jobs in the states, Obama secures a higher income for everyone. More income=more input for the system.

    The poor need some boot straps to pull themselves up by. Thats the tax break right there.

  • 1 decade ago

    The Obama plan will never be. The words( Take from the rich, and those making over 200k per year) all get him votes from the great unwashed. He's talking words man just talking words

  • 1 decade ago

    its because he will give more to welfare folks..middle class will still have to pay for lazy *** people now when Osama gets in we will have to pay higher tax's so the lazy *** people can get a income tax check.what about this is so hard for you people you working class people cant see threw..Osama is a liar .biden has already said something bad will happen when Osama gets in office .what is wrong with you people.you rather lose your life than to vote for someone else who will keep america safe ..what is having money if you lose your life are your children's life .I will not put my life in Osama hands .people you don't know nothing about Osama.he has you blind by his smooth talk he is very slick.wake up america.don't let this man destroy our country

Still have questions? Get your answers by asking now.