Quote of the day from the TaxProf Blog:
Only once since 1917 has there been a tax-rate increase equal to or greater than the two twin tax proposals being made by Obama. That tax increase, the Revenue Act of 1932, was proposed by Herbert Hoover. The result was an even greater budget deficit, plummeting tax revenue and a lengthier Great Depression.
I have some otherwise seemingly smart friends that are supporting Barry Obama — to whom I’ve gotta ask: is this really what you support? Do you really think this type of wealth redistribution is fair? If so, then why haven’t you been writing an extra check out to Uncle Sam every year (you’ve always had that option to pay more. So why haven’t you?)?
Doesn’t this article say that this will only impact the self-employed that make over $250,000 per year?
That doesn’t apply to me, but I’m still not voting for that guy.
Um- George Bush is the architect of the greatest tax increase in US history: the tax cut was designed to expire in 1o years. Obama will obey that law- McCain would change it.