Tag: Millionaires

Nov 20 2010

How many Billionaires can dance on a Pinnacle?

The GOP often dangles this dream, before its far too loyal followers:

You too, could one day be a Millionaire, or perhaps even a Billionaire, so don’t ruin it for everyone, by raising Taxes on the Wealthy. Afterall, someday it could be you.  In their America, anything’s possible.

Most everyone, wants to be rich someday.  It’s part of the American Dream — or at least it used to be.  But the way things have been going lately it seems the Dream has been downsized to:

I just hope I can find/keep my Job.

Despite the somber work-a-day reality most people face, far too many still take the Republican dream, at face value.  By following their lead, they hope to strike it rich someday, too.

Perhaps we Dems, should address this rouse, and dare to ask:

What would really happen if we ALL struck it rich?

Because obviously there is only SO much room “at the top” …

Sep 25 2010

Olbermann Removes the SMALL {Attention Spans} from “Small Business”

The main GOTP argument for keeping the Bush Tax Cuts in place for the Top 2% — pivots on how it will “hurt Small Businesses” if we don’t.

This simple slogan, fails to take into account one VERY SMALL stat.

[Mitch McConnell] says President Barack Obama’s plan to limit future tax breaks to couples earning less than $250,000 would subject 50 percent of small business income to a tax increase, stalling the job creation engine.

[…]

McConnell’s 50-%-of-income figure is based on a July 12 finding by the Joint Committee on Taxation, … that 1/2 of about $1 trillion of business income in 2011 will be reported on some 750,000 personal tax returns filed by people who pay the top marginal rates.

He calls those small businesses. Yet the report says the data “do not imply that all of the income is from entities that might be considered ‘small.’ ” Almost 20,000 of those businesses, for example, had receipts of more than $50 million, it says.

Would Ending Bush’s Tax Cuts Hurt Small Business?

Ryan J Donmoyer, BusinessWeek – 09/23/10

Behold the GOTP — Defenders of the $50 Million-aires!