I read an interesting post at W Revenue the other day that I thought I would share with you here. It’s titled, Obama Clueless on Taxation and Entrepreneurship, and it brings out some of the points that I’ve been a little agitated with. I usually don’t tackle politics here, but I’ll make an exception for this.

This short video clip is from a democratic debatewhere Obama is confronted with the issue of his wanting to raise the capital gains tax. In the past when the rate has been raised, overall tax revenue has gone down. And when the rate has been decreased (as it was under Bill Clinton and George Bush), overall tax revenue went up. When asked why he would want to raise it knowing this, he just stumbles around the question and tells us that he wants to raise it “for purposes of fairness”. He then mentions some article about 50 billionaires, even though the moderator pointed out to him that over 100 million people in this country own stock and would be affected by this tax increase (not just the billionaire hedge fund managers).

I’m not going to go through the whole video clip here, but I do recommend that you watch it so you know what his agenda really is and how it would affect you and your family. Also, after watching this video, I found this other short one minute video of Obama on another tax related issue. Check it out.

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