Friday, April 18, 2014
PLACERVILLE, CALIFORNIA
99 CENTS

Taxes everywhere

By
From page A6 | November 09, 2012 | 5 Comments

Oh, please, tax us some more. That seems to be the sentiment of the voters in California and nationally. California voters by a substantial margin endorsed Gov. Jerry Brown’s tax hike on high earners and a 1/4-cent sales tax. Hey, everybody is for taxing high income earners until they become high earners themselves.

Likewise, President Obama was reelected with not much of an agenda for the next four yearts other than to raise taxes on anyone making more than $200,000 and increase capital gains taxes so those millionaires and billionaires won’t get off with only paying 15 percent. Billionaire Warren Buffet said it ought to be so and so Obama invented the Buffet rule. The Buffet rule says no other billionaire ought to pay a lower tax rate than Buffet’s secretary. Of, course he could have evened things out by giving his secretary stock options, so the rest of the taxpayers don’t have to pay more just because he’s too chintzy to share the wealth with his secretary.

It’s not just high earners who will be hurt by an increase in the capital gains tax. Retirees, counting on selling their stocks or 401k mutual funds during their retirement will pay capital gains. If the rate is raised, then the gain from the sale will be substantially reduced by the capital gains tax. Seniors will be stuck in a tax death spiral as they hit age 70 and are required to start selling a portion of their Individual Retirement Accounts each year.

And watch out for an increase in the Medicare premium, which is automatically deducted from Social Security checks.

Yes, there will be taxes everywhere. But no taxes for library services in the Placerville area. Look for hours to be reduced at the Main Library.

Mountain Democrat

LEAVE A COMMENT

Discussion | 5 comments

  • cookie65November 09, 2012 - 5:27 am

    The best we can hope for is that so many who lack any education will now get some. The hard way. In the meantime, everything that caused this country to go from non-existent to the greatest nation on the planet in less than 200 years will suffer. Just send another bill to the future generations, they aren't old enough to vote against it.

    Reply | Report abusive comment
  • Ken SteersNovember 09, 2012 - 5:33 pm

    Cookie, our educational system has been seized by the socialist idealist. Our education system here in our grand state ranks 46th nationally in a country that ranks 14th and sinking quickly out of 33 with the highest expenditure on education of any country in the world. In the state system, the emphasis is on indoctrination not education. I'm only saying that I wouldn't recommend putting a family or student into debt for the sheep skin they are getting today. 50% of graduates are currently unemployed here in California. I hope that the Great Democrat Party will come up with a solution for these poor soles. Maybe give students who graduate unemployment compensation along with their food stamps. You know, something cheery to look forward to.

    Reply | Report abusive comment
  • RecallmoonbeamNovember 10, 2012 - 8:06 am

    Moonbeam is a liar and a thief. He knows damn well he pulled an illegal move on our fire TAX. With NO REGARD for the voters, who would have voted it down as he well knows. He is this states worst enemy. He is taxing us to cover the $6 bil HE took from education. We will see our students faced with higher tuition all while he's eager to help ILLEGALS get CDL's and free education....and anything else free for them....all at OUR cost. He should be recalled at once! He's old and senile.

    Reply | Report abusive comment
  • EvelynNovember 11, 2012 - 11:56 am

    100 DAYS UNTIL TAXMAGEDDON: a) First Wave: Expiration of 2001 & 2003 Tax Relief b) Second Wave: Obamacare Tax Hikes c) Third Wave: The Alternative Minimum Tax & Employer Tax Hikes ********** For details SEE http://poorrichards-blog.blogspot.fr/2012/11/100-days-until-taxmageddon.html

    Reply | Report abusive comment
  • EvelynNovember 11, 2012 - 11:59 am

    IT’S THE INTEREST, STUPID! WHY BANKERS RULE THE WORLD @ http://www.alternet.org/economy/its-interest-stupid-why-bankers-rule-world?page=0%2C0&paging=off

    Reply | Report abusive comment
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