It's going to require "entitlement reform"?

[originalpckelly]

I think I agree, Mr. President.

We need to do something about those who feel entitled to low effective tax rates, lower than the general population, namely those people who are millionaires and billionaires who make their money off of capital gains.

As we all know, income from capital gains, isn't like payroll income. Dollars from capital gains actually are equal to less in the economy. :sarcasm:

[tekisui]

1. Ah, that is why such an effort to 'reclaim' the word entitlement.

Of course, it was transparent. Using the RW frame naturally leads to defending cuts to such.

[kratos00]

2. I voted for Obama

I donated to Obama.

But his insistence on accepting the right wing memes of "government is too big" and "we must cut "entitlements" are doing more to advance the right wing's long term goals than Bush in some ways.

[Lorien]

4. Sadly so, and as he said himself; we need to hold his feet to the fire

those who demand that we support his every move are supporting GOP positions on the issues and advancing the right wing war on the middle and working classes. If they want Obama to be remembered in a positive light, then they need to stop spinning and distorting and join us in demanding that President Obama keep the promises of Candidate Obama.

Oh, and welcome to DU!

[kratos00]

7. Thanks

I'm becoming increasingly frustrated with him. I used to point him out on TV to my 7 year old and say "there is a great man, remember him" but I stopped.

I have yet to figure out what Obama's end game is, what his plan for lifting the middle class and poor up is. I see only a continuation of the elites consolidation of power and wealth.

[Autumn]

3. I've seen his "reform". I would rather he

not "reform" anything else.

[badtoworse]

5. I must be missing something...

A dollar of income is worth the same to me whether I got it from salary or from my investments. Please explain the difference.

While you're at it, please explain what's wrong with capital gains - anyone who has a 401K, an IRA or has invested in stocks or mutual funds hopefully realizes capital gains. They're not just for millionaires.

[originalpckelly]

6. Of course the dollar is the same whether it comes from payroll or capital gains.

It was sarcasm.

That's the whole point of what I said.

However, there are people out there, NOT YOU with your 401K, who are making a killing off of the difference in tax burden between capital gains and payroll income.

The dollars don't equal anymore or less, but you'd expect that to be true from the massive difference in taxation between the two sources of income.

This difference is the reason why Warren Buffett pays less a percentage of his income in taxes than does his assistant.