The Tax Code and the Very Rich

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TAX CODE HITS THE RICH, BUT NOT THE VERY RICH: “While the affluent will pay more in taxes this year, that is probably not the case for the very wealthiest — those worth hundreds of millions or more. They may still be paying a lower tax rate than Warren Buffett’s secretary. Many millionaires are certainly paying at least 30% of their income in taxes, a goal President Obama set out in last year’s State of the Union address. But they’re more likely to be doctors, lawyers and people working in the financial services industry who get the bulk of their earnings in the form of paychecks. Partners in private equity firms and hedge fund managers, on the other hand, earn much of their money as a share of their funds’ earnings. And that income gets preferential tax treatment as so-called carried interest. A similar special tax treatment still holds true for Mr. Buffett as long as the bulk of his income comes from his investments and not a paycheck.”

http://taxprof.typepad.com/taxprof_blog/2013/01/ny-times--4.html#comments

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REMEMBER WHEN OBAMA WAS GOING TO SAVE US FROM THE EVIL BANKERS WHO WRECKED THE ECONOMY? NOW HE WANTS TO HAND OVER THE TREASURY TO ONE: WaPo: Jack Lew had major role at Citigroup when it nearly imploded. “In early 2008, he became a top executive in the Citigroup unit that housed many of the bank’s riskiest operations, including its hedge funds and private equity investments. Massive losses in that unit helped drive Citigroup into the arms of the federal government, which bailed out the bank with $45 billion in taxpayer money that year.”
http://www.washingtonpost.com/business/economy/jack-lew-had-major-role-at-citigroup-when-it-nearly-imploded/2013/01/10/a913431e-5b6b-11e2-9fa9-5fbdc9530eb9_story.html
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if we keep killing future taxpayers...

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Washington Eye $1 Trillion Tax Hike

Democrats say they want to raise as much as $1 trillion in new revenues through tax reform later this year to balance Republican demands to slash mandatory spending.

Democratic leaders have had little time to craft a new position for their party since passing a tax deal Tuesday that will raise $620 billion in revenue over the next 10 years.  

The emerging consensus, however, is that the next installment of deficit reduction should reach $2 trillion and about half of it should come from higher taxes.

This sets up tax reform as one of the biggest fights of the 113th Congress, which began on Thursday.

http://thehill.com/homenews/senate/275815-democrats-looking-for-up-to-1t-in-new-tax-revenues-this-year

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Planned Parenthood Reports Record-High Taxpayer Funding, Abortions

In its latest annual report for fiscal year 2011 to 2012, Planned Parenthood reveals that it performed 333,964 abortions in 2011 – a record year for the organization.

According to annual reports, the organization performed 332,278 abortions in 2009, 329,445 in 2010, making the total number of abortions in three years to 995,687.Planned Parenthood reported receiving a record $542 million in taxpayer funding, according to a Susan B. Anthony List analysis of the report, in the form of government grants, contracts, and Medicaid reimbursements. The amount is 45 percent of Planned Parenthood’s annual revenue.Contraceptive services at Planned Parenthood have dropped by 12 percent since 2009, and cancer screening & prevention services have dropped by 29 percent.
http://washingtonexaminer.com/planned-parenthood-reports-record-year-for-abortions/article/2517801#.UOs_nG_hobx
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For you created my inmost being;

    you knit me together in my mother’s womb.

 

I praise you because I am fearfully and wonderfully made;

    your works are wonderful,

    I know that full well.

 

My frame was not hidden from you

    when I was made in the secret place,

    when I was woven together in the depths of the earth.

 

Your eyes saw my unformed body;

    all the days ordained for me were written in your book

    before one of them came to be.

Psalm 139:13-16

(NIV)

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Sketchy Ice Creams

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Bird Box Studio

http://www.youtube.com/user/Birdboxstudio?feature=watch

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The state is her Shepherd

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⁶ When the woman saw that the tree was good for food, and that it was a delight to the eyes, and that the tree was desirable to make one wise, she took from its fruit and ate; and she gave also to her husband with her, and he ate.

Genesis 3:6

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¹⁰ Lot lifted up his eyes and saw all the valley of the Jordan, that it was well watered everywhere—this was before the Lord destroyed Sodom and Gomorrah—like the garden of the Lord, like the land of Egypt as you go to Zoar. ¹¹ So Lot chose for himself all the valley of the Jordan, and Lot journeyed eastward. Thus they separated from each other.¹² Abram settled in the land of Canaan, while Lot settled in the cities of the valley, and moved his tents as far as Sodom. ¹³ Now the men of Sodom were wicked exceedingly and sinners against the Lord.

Genesis 13:10-13

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³¹ But Jacob said, First sell me your birthright.”

Genesis 25:31

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⁴ “Is it time for you yourselves to dwell in your paneled houses while this house lies desolate?” ⁵ Now therefore, thus says the Lord of hosts, “Consider your ways! ⁶ You have sown much, but harvest little; you eat, but there is not enough to be satisfied; you drink, but there is not enough to become drunk; you put on clothing, but no one is warm enough; and he who earns, earns wages to put into a purse with holes.”

⁷ Thus says the Lord of hosts, “Consider your ways! ⁸ Go up to the mountains, bring wood and rebuild the temple, that I may be pleased with it and be glorified,” says the Lord. ⁹ “You look for much, but behold, it comes to little; when you bring it home, I blow it away. Why?” declares the Lord of hosts, “Because of My house which lies desolate, while each of you runs to his own house.

Haggai 1:4-9

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http://www.biblegateway.com/

http://thepeoplescube.com/

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Taking us down the same path

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