by ilene - March 22nd, 2010 11:25 pm
Courtesy of Joshua M Brown, The Reformed Broker

Dear Evil Speculators,
As part of our ongoing program designed to render the US stock market completely dysfunctional, we have added an additional tax to be applied toward your investment income as part of the wildly popular Health Care Bill that we recently finagled through into law:
* Individuals earning more than $200,000 a year, or couples earning $250,000 or more, would be hit with a 3.8% surcharge on investment income to help pay for the bill.
You see, we are fully aware that in just the past decade, you have been slammed twice – 2000-2002 and 2007-2009 – with two of the most brutal bear markets in history – but we just don’t care. We are also well apprised of the latest retirement surveys – the ones that project that the average retirement account needs to generate 20% gains each year for the next 10 years just to catch up.
These concerns do not afflict us for two reasons:
Number one, as soon-to-be-former legislators, 6 and 7 figure jobs at law firms and corporations will be forthcoming for all of us, pretty much no matter what.
Number two, rather than have Americans foot the bill for their own retirement, we figure in about 6 years or so we’ll just ram a new Bill down your throats expanding Social Security and mandating employer-paid pensions for all retirees. Since all business owners large and small are by definition ‘Fat Cats’, what could possibly be the harm in that?
Do not think that we are unappreciative of the fact that without individual investors’ participation in markets, liquidity would slow to a trickle and the risk-taking, enterprising apparatus that built this nation would cease to be. On the contrary, we are so appreciative of investors’ market activities that we seek to grab an even larger piece of the action in the form of this and other levies to be decided in a series of closed-door meetings at our whim and leisure.
So please, as you grumble about the latest 3.8% tax-on-success that we’ll be applying to your portfolio each year, consider that it’s all for a good cause: Rahm will now be nicer to us.
Yours Presumptuously,
The House of Representatives
Fantasyland USA 20002
Tags: 3.8% tax, Business Owners
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by ilene - January 27th, 2010 10:21 am
Courtesy of Mish
On Tuesday, unions in Oregon won a charred earth victory that will drive already troubled Oregon, straight off the cliff.
Oregon voters passed Measure 66 which raises tax rates on individuals who earn more than $125,000 and couples with incomes greater than $250,000. Voters also passed Measure 67 which increases business taxes.
Please consider Oregon voters pass both tax measures.
Oregon voters on Tuesday approved tax hikes on businesses and the wealthy, allowing legislators to avert budget cuts they said would have affected schools and services for the poor and elderly.
The most recent reports had labor outspending business in one of the state’s most expensive issue campaigns. Common Cause of Oregon said Guiney’s group raised $6.85 million to the $4.55 million raised by Oregonians Against Job-Killing Taxes.
"The bottom line is the unions bought the election," said State Republican Chairman Bob Tiernan. "It’s going to be a sadder day as more businesses leave the state and more don’t want to come here."
Passage of the measures spares the Legislature a month of budget-cutting when it starts a four-week session Monday.
"I’m moving out"
Please consider an email from one business owner in response. "C.S." Writes ….
Mish:
Don’t know if you noticed but Oregon narrowly passed another tax increase today. As a business owner for 25 years in Oregon, I’m moving out, going to Washington. Many other business owners I talk to are saying the same thing. They are all getting out. One of them refused to renew his commercial lease until seeing the results of 66/67 tax measures. He’ll be moving out also.
Tektronix last year decided to get out as well, and they are moving 80% of what is left to Shanghi China. Many other companies have also left in the last couple years. Oregon will now be tied with Hawaii at 11% income tax, the highest in the US.
Moreover, they have added a tax now on gross revenue. It doesn’t make any difference if you are losing money and trying to survive. They want to skim the top. Wasn’t this the technique used by the Mafia?
If that’s not bad enough already, the City of Portland is talking about massive tax increases. If you’re a business in the city limits, the tax/business license fee has
…

Tags: Business Owners, Oregon, Taxes, unions
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