Obama’s taxes also have a way of adding up. He has called for raising the top marginal tax rate on individuals and small businesses from 35 percent to 39.6 percent. Added to that will be a tax of 12.4 percent on Social Security, which is now capped at $102,000. This will create a top tax rate of 54.9 percent. (Self-employment profits also will face a 2.9 percent Medicare tax.) Adding in the average state income-tax rate, Obama’s top tax rate on small businesses and individuals climbs to about 60 percent. Compare that with Russia’s top tax rate of 13 percent, Hong Kong’s of 15 percent, France’s of 49.8 percent, and Sweden’s of 56.5 percent.***Cavuto vs. Obama spinner NJ Sen. Menendez. Watch:Meanwhile Obama is still voting...(how many times?)TV cameras all trained on The One.
P.S. Smirky Chris Matthews admits Obama tax plan is welfare. And we are all the poorer.
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