tag:blogger.com,1999:blog-8605446101764994079.post8960202680216676848..comments2022-04-04T21:48:22.765-07:00Comments on The Fundamental Option: TAXATION WITHOUT REPRESENTATIONMaria Hsia changhttp://www.blogger.com/profile/10980283972780822712noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-8605446101764994079.post-35839434659764323852008-12-03T07:11:00.000-08:002008-12-03T07:11:00.000-08:00Glenn Neal responds to "Johnny Smoke":Your point a...Glenn Neal responds to "Johnny Smoke":<BR/><BR/>Your point about my Obama comment muddying the water in this essay is<BR/>useful and I will keep it in mind for future posts. However, I believe that the statement about Obama raising taxes is true. <BR/> <BR/>I won't presume to know what he intends to do--presidents often do not follow their campaign promises once in office. However, with the cost of the bailout, his promise to remove the cap on payroll taxes for Social Security on high income people, increase taxes on the "rich" (which includes small businesses that employ people) and will taxes is inevitable. <BR/> <BR/>The point of the essay is we will may get to see too soon whether John Marshall was right when he said the power to tax is the power to destroy.<BR/> <BR/>GlennMaria Hsia changhttps://www.blogger.com/profile/10980283972780822712noreply@blogger.comtag:blogger.com,1999:blog-8605446101764994079.post-31208208288692848992008-12-02T20:33:00.000-08:002008-12-02T20:33:00.000-08:00I think I know where you're going with this but......I think I know where you're going with this but... I guess we'll have to wait and see?<BR/><BR/>The first sentence of this article was unnecessary and muddies the water of your argument. You subtly implicate there's a connection between Obama and the highest taxes in history. <BR/><BR/>I know your point is regarding hidden taxes but I think it's also important to point out the fact that the American taxpayer is about to get hit with the largest tax burden in history has nothing to do with the new democratic prez. Thanks to Wall Street and prior administrations we're going to get hit with a $10 trillion dollar tax bill when this is all over. <BR/><BR/>Where do I come up with this number? NYT recently said that to make up for the drop in consumer spending the govt. will have to pump $1 trillion per year to prop up the GDP. As we know with most of this we're being low-balled and from what I hear the number is more like $2.2 trillion. Many prognostics are saying it will be 5 years before we're out of this business cycle and there you have it.Johnny Smokehttps://www.blogger.com/profile/04639849348164762557noreply@blogger.com