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Originally Posted by Doove
Exactly my point. A pretty unique way of paying back that debt he 'owes' to George Soros, wouldn't you say?
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Soros knows that Obama needs to play to his base in order to have a chance to get re-elected. Increasing taxes on the "wealthy" is much more popular than anything else Obama has done or tried to do.
A further point I would make is that what's important politically is not whether Obama actually manages to get tax rates on high incomes raised; it's whether he
appears to be attempting to do so with sufficient energy. If so, and if (when) Republicans block his efforts, he can use that in campaign ads next year.
And since he has all this coupled up with his "jobs bill", which can't possibly pass, it's hard to imagine that you'll see a tax rate increase on high incomes anytime soon.
But an even more key point is that Soros would be unlikely to pay much (if any) more tax even if a rate increases is pushed through. Since he's extremely wealthy, he can quite easily arrange his financial affairs in such a way that his tax burden is minimized, or even virtually eliminated.
Recall the recent discussion of Buffett's tax burden? If Buffett would end up paying any more tax at all after a rate increase, it would hardly amount to a rounding error.
Raising taxes on "millionaires" and raising taxes on Soros are two entirely different things, especially if much of the "millionaire's" income is salary or fees.
