Did you get a load of the David Leeper column in today’s El Paso Times business section?
He is outraged, OUTRAGED, that Obamacare will take from the rich and give to the poor. Or to put it more in his terms, take from the hard-working businessman and give to you lazy roustabouts.
He, without any self-awareness with how ridiculous he sounds, breaks down this alarming new tax destroying our republic.
For those households bringing in more than $250,000 a year (or $125,000 a year if you’re single) you will have to pay a whopping 3.8 percent tax on investment gains after that first $250,000. So not only does the new tax not affect you if you are making less than $250,000 a year, even if you are, it’s 3.8 percent more only on that part above the $250,000 threshold.
To put that 3.8 percent rate that Leeper finds so outrageous in perspective, the sales tax rate in El Paso is 8.25 percent. So you are paying a tax rate of more than twice that level every time you buy some gum.
But Leeper sees this 3.8 percent in Ayn Rand terms: “It is an attempt to redistribute income from those who were fortunate to save money during their lives and are now living partly on investment income.”
“Now living partly on investment income?” Must be tough, barely getting by on income of $250,000 a year, then having to give up 3.8 percent of investment income over that amount. It’s breaking my heart. And how terrible to “redistribute income” when it would be so much more fun to let the poor die in the street.
Leeper ends his anti-Obamacare screed with “it is yet another step in government redistributing our hard-earned income.”
Investment money is hard-earned? Try paving a road sometime, or working in the service industry.
But, fine, if Leeper would rather let people go without health care (they are probably just too lazy to be rich, anyway, right?), then by all means, he is entitled to his opinion. But why is the El Paso Times running his Ayn Rand love letters in the business section under the guise of a column offering tax advice?
Until he starts actually offering tax advice, put him in the Opinion page, where he belongs.
You know what would be extra nice? Maybe a little tax advice for the 99 percent of El Pasoans who are getting by on a little less than $250,000 a year.