Comments of the Day:
"A tax like this is overdue. The supposed 'job creators' have had lower taxes for a while now and done a poor job of creating jobs. Tax them unless they actually start creating jobs."–pplr
"Obama is just asking the rich to pay the same amount as the middle class. That is not class warfare."–Harrassed
Obama to propose new tax rate for millionaires
Those earning more than $1 million a year would be taxed at rate matching that of middle-income earners, if President Obama's Buffet Rule is approved by Congress. The proposed tax hike is part of Obama's deficit reduction plan. Many CNN.com readers applauded the announcement.
poiuytrew said, "The rich do not create jobs! Their customers create jobs. Jobs are created when demand exceeds current capacity, and that happens when more people have money to spend. There is no such thing as a benevolent corporation. They will only hire when it's in their interest to hire, and it will only be in their interest when demand for their product skyrockets."
dphuff said, "I propose a shunning of any politician who uses the bogus term 'job creator' as a way to whitewash the word 'wealthy.' It's BS. Tax rates on the wealthy were higher during the Clinton years, and our economy was booming. It's time the rich paid their fair share, and that includes raising tax rates on unearned income as well. There's no reason that income from a pile of cash should be taxed any differently than income earned by honest labor."
EvelynWaugh said, "Obama is just raising taxes to previous levels .. and guess what, during Clinton they paid 31 percent and we had jobs. Now they pay 22 percent and we do not have jobs. Explain that?"
MtnDave said, "There need to be spending cuts but there also need to be tax increases on everyone. If Obama has a second term, this is exactly what he will do; and he certainly will not be liked for it (which is why it hasn't been done yet). For those who think this can be solved by spending cuts alone: they're part of the problem."
Harrassed said, "I am a small business owner and a former Republican. And I am absolutely delighted to hear Obama's plan. I don't have any lobbyists, and I don't get any loopholes. Obama's plan is a bipartisan plan that is fair for everybody." EvelynWaugh agreed, "I'm a small business owner as well and he has passed some pretty good stuff for small business." But Brad4 said, "I own two small businesses and Obama is killing me."
FoolKiller said, "So, the kids with the bubblegum have to bring enough for everyone, right Obama? Grow up! But since your target audience never did, this will probably keep working." pimpplaya999 replied, " 'The 'kids with the bubblegum' earned that bubblegum as a result of the lower rates they paid when the middle class saw their wages fall in the last decade. That bubblegum actually belongs to the middle class and they want it back."
Netflix renames DVD-by-mail service, adds video games
Netflix announced that it was separating its movies-by-mail service and its movie-streaming service, and renaming the mail service "Quikster." Netflex said it will also be adding video games to its Quikster catalog. Most CNN.com readers said the changes were bound to fail.
xdougx asked, "Is Netflix committing suicide? Seems like they want to get rid of customers."
MFleurs said, "When you've already angered many of your clients, make your services harder to use. Brilliant! Not! They obviously are getting ready to sell the DVD division. This is not how you strengthen a business!"
dabble53 said, "Since the streaming side of things is newer, and theoretically quicker, I find it pretty stupid for them to apply the Qwikster name to the snail-mail business, and in the process, making the long-term customers get used to a new website. So long Netflix, or whatever your name is."
wtrtwnguy said, "Has Netflix gone insane? Everything with a '-ster' name online has been a bust and this will be no different."
amused2000 said, "It seems like Netflix is desperately trying to make its streaming service relevant. You know what would have been more effective? Boosting their streaming library."
But LightSpeed1 said, "Everybody here keeps blaming Netflix. They had to raise their prices. The studios keep asking for more and more money. Blame them. For example, just recently, Starz/Disney announced they would be pulling their movies as of February, when their current contract is up. Netflix offered them a 300 percent increase on their current deal and they refused it."
suprdude said, "Movie distributors were given a fair price, but they realized they could get more and everyone jumped on the bandwagon. Now they're getting so greedy, they're killing the golden goose (Nefflix), and indirectly the consumer."
Greebo512 asked, "Do any other streaming services spare us commercials?"
A little girl's memories stir questions about good and evil
In a four-part series, (with the fourth to be published Tuesday), writer Wayne Drash travels back to a small town, where in the late 1970s, the Rev. Robert Nichols and his family were terrorized by local power player, Horry Watts. The story had some CNN.com readers talking about bullies. <a
QLorraine said, "This is an example of what happens when the 'masses' don't stand up to one tyrant. Watts was a grown-up bully. If everyone had gotten together and showed a united front against this guy, it might have turned out differently. But everyone was too afraid. That's the only way a tyrant gets power. It's given to him because he isn't afraid to use it. But, get the majority together, and things change. Sad that this couldn't happen."
thewiz71 said, "While this is an extreme case, many are unaware of the extent to which many clergy face bullying and harassing behavior, often stemming from people who feel proprietary over the congregations the clergy lead. I have had friends run out of churches, not because they weren't dutiful, competent, and faithful, but because they wouldn't let a particular person in the congregation have their unilateral way with things. Such bullies even have a title: 'Clergy killers'."
glimmertwin said, "I live in the north – and though this case is an extreme one (north or south)–I can assure you , bullies who want to protect their turf or income are everywhere."
aimeekathryn said, "Thank you, Mr. Drash, for your interesting story! I grew up in that time when small town people with money often thought they were above the law, or bought off politicians. Excellent story of forgiveness."
funtasticguy said, "This story is riveting and heart-wrenching. I can't wait until tomorrow to read how it all ends! Thanks CNN for sharing such a powerful story."
Lastholdout said, "Fifty bucks says that there's absolutely no connection between Williams and Watts, and that it was just really bad timing. I like how they say 'Mercer didn't get the evidence quickly enough.' This would hold true if it was Watts or a killer hired by Watts who conducted the final attack; however, this is obviously not the case."
Do you feel your views align with these commenters' thoughts? Post a comment below or sound off on video.
Compiled by the CNN.com moderation staff. Some comments edited for length or clarity.
The "millionaire" tax is a misnomer. It actually means investment income earners, which includes many Americans, even those who are included in the "poor" class. Investments are a major part of America's economy, without it we
would not have our current standard of living. Please think about not expecting "others" to pay for "your" stuff. A
"fair" tax across the board is what is needed to stop the "class warfare" rhetoric. In America we strive to become successful, be careful what you wish for, there may not be anywhere to strive to.
You guys don't seem to know what you are talking about. The top 1% of income earners pay 38% of all Federal income taxes, yet earn only 22% of all income. The top 50% of income earners pay 98% of all Federal income taxes collected and the bottom 50% of income earners pay only 2% of total federal income taxes. And the bottom 47% of income earners pay zero federal income taxes at all. Not to mention the AP came out with an article today showing the IRS charts of exactly who pays what percent of income in federal tax. Wake up. The facts are there for those who pull their head out of Lefty Land.
'Class Warfare' is when the bottom 98% fights back.
Class warfare is when you pit one American against another American of different income/ social class levels in an effort to cause strife and division, to make them fight against each other. Its pathetic and not what American and we as Americans are about. But the Left loves to use it so as to drum support from those who do not know any better. Sad.
AP Debunks Obama's Claim Millionaires Don't Pay Their Fair Share of Taxes
By Noel Sheppard | September 20, 2011 | 09:54
On Monday, NewsBusters debunked the media myth that millionaires pay less in taxes as a percent of income than lower earners.
Rather surprisingly, the Associated Press followed suit Tuesday with a stunning piece that began, "President Barack Obama makes it sound as if there are millionaires all over America paying taxes at lower rates than their secretaries":
The data tell a different story. On average, the wealthiest people in America pay a lot more taxes than the middle class or the poor, according to private and government data. They pay at a higher rate, and as a group, they contribute a much larger share of the overall taxes collected by the federal government.
The AP shared actual data to support its totally correct conclusion:
This year, households making more than $1 million will pay an average of 29.1 percent of their income in federal taxes, including income taxes and payroll taxes, according to the Tax Policy Center, a Washington think tank.
Households making between $50,000 and $75,000 will pay 15 percent of their income in federal taxes.
Lower-income households will pay less. For example, households making between $40,000 and $50,000 will pay an average of 12.5 percent of their income in federal taxes. Households making between $20,000 and $30,000 will pay 5.7 percent.
Indeed. The AP also confirmed the data NewsBusters reported the previous evening:
The latest IRS figures are a few years older _ and limited to federal income taxes _ but show much the same thing. In 2009, taxpayers who made $1 million or more paid on average 24.4 percent of their income in federal income taxes, according to the IRS.
Those making $100,000 to $125,000 paid on average 9.9 percent in federal income taxes. Those making $50,000 to $60,000 paid an average of 6.3 percent.
So the cat is now officially out of the bag with the largest wire service telling America the truth.
Read more: http://www.newsbusters.org/blogs/noel-sheppard/2011/09/20/ap-debunks-obamas-claim-millionaires-dont-pay-their-fair-share-taxes#ixzz1YYA730LL
Fred, I have no clue where you get those numbers,
I make $50,000 a year and uncle sam wallups me with 25% taxes – not 15%. That story is bogus. in New Jersey, this is not a living wage! we need relief and it is up to those who America
has given the greatest opportunity to give back .
This tax hire is well overdue. This country has slid into a feudal system the past thirty years, the rich amass huge amounts of profits while the middle class has fallen into serfdom. Meanwhile, the poverty rate has risen to over 15% the highest it has been in fifty years!
Why would the rich create new jobs? Everyone is so scared of losing their job right now, they are working 50-60 hours a week to hold on to their job, if a corporation can break the backs of the workers, they make more profit and no need to hire more people, SLAVEDOM!
Am I too generous in congratulating someone who has a really great year - a year that might help her rise out of debt slavery and retire the mortgage loan - rather than joining the jealous mob in tearing her down with self-righteous and misguided taxes? Look, I am more than willing to support a tax on controlling wealth, but this punitive tax on income is not and can never be the tax on millionaires with which the Demagogic Party is whipping up the crowds. If we intend to take economic control out of the "few hands", as Kefauver put it, we need to pass the Huey Long Tax on excessive stock ownership and extend it to conglomerates and the moneylenders.
As far as creating jobs, or obviating them, that requires savings. Unfortunately for the small business and their potential new hires, the Bush and Obama administrations have diverted roughly $7 trillion of savings into Treasuries. This includes the dollars sent to the Chinese for the products we import from them - thank you, Walmart! - or their other trading partners, rather than from US manufacturers employing US workers. So we get the double whammy from issuing Treasuries, no business expansion and jobs at home because of the dearth of credit or investment for domestic business and an imbalance of trade which exports our jobs rather than our products.
The solution is to end the issuance of Treasuries. We need to stop creating more federal debt. The clueless Democrats and Republicans will object that we need to balabnce the budget, but this is simply not true. The President can, under authority granted to him nearly a century and half ago, issue the People's Money: United States Notes. The Party Hysterics will then be "Inflation! Inflation!" when anyone with a half a mind and the sense and the presence to use it can plainly see that issuing currency is less inflationary over time than issuing debt, the difference being the interest on the debt.
But what of that inflation? What is that but a tax on the wealthy and a subsidy for the great mass of Americans suffering under their burdens of debt? By removing the barriers to employment from the federal debt and raising the general level of prices - thus of wages and real estate - fewer houses would be underwater and fewer home-owers would lack the income to meet their mortgage obligations. A general inflation would help bring people out of wage and debt slavery, and into independence from the money lenders and the national companies which finance the Party Politicians. Perhaps that is why our double-headed Plutocratic Party is trying its best to ignore our pleas for United States Notes.
I have never been hired by a poor person to perform work.
I am what you might call "not rich", or poor once I've paid taxes, mortgage and food.My gross income is $47k gross, and think that's okay fro my needs. I do require help sometimes for jobs I can't do myself, and hire someone who is far worse off than me, paying him $20/hr for his work. If I had more, I would hire him more often. Does one really need a tax break to create a job for someone who can use one? There I go confusing morality and economics again. I gotta get more greedy.
I believe this movement is based on false information. I don't believe the information about the rich, especially if it comes from the government.
This is like George Orwells "Animal Farm" coming to life before my very eyes.