Webb’s GI Bill Taxes Rich

Jim Webb’s new GI Bill gets more brilliant each time I read about it. Yesterday, the House moved this bill forward by approving a tax on the super-wealthy to pay for the plan to expand veterans education benefits to cover the full four years of college. From Carl Hulse’s story in the New York Times:

“Individuals earning $500,000 or more would pay a surtax of 0.47 percent on income above $500,000 and the tax would apply to couples on incomes above $1 million.

Democratic officials said one analysis estimated that about 440,000 people would fall under the new tax and would pay an average of nearly $9,000 a year.

‘We are talking about people who are making over $1 million to make a small sacrifice to pay for this war when our military families are making a huge sacrifice,’ said Representative Jan Schakowsky, Democrat of Illinois.”

Bush is threatening to veto the bill and McCain, suicidally, supports him. You want to save money of the backs of our veterans? A “tax is a tax?” The genius of this bill is that it does two great things. One, it provides a well-deserved benefit to our troops. Two, it demonstrates, in sharp terms, Republican hypocrisy on the military.

If the top half million wealthiest people in the country can’t take a $9000 hit to put a young veteran through college, than this country is doomed. You have no right sending anyone off to war, if you can’t support this bill.

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12 Responses to Webb’s GI Bill Taxes Rich

  1. asd says:

    Let’s put it this way:
    All corporations that are being taxed on a personal level are going to be affected even if the owner doesn’t take out the full amount.

    Couples earning >1,000,000 will pay 5,000 on top of the 450,000 they are already paying in Federal, state and local taxes.
    + Pushing up the Cap Gains tax
    + Pushing up the income tax rates
    + Varies new taxes, tolls/fee increases etc. currently being proposed by many local governments
    + Windfall tax on companies that make too much money… (Millions of Americans own stock in oil companies)
    + Farm Subsidy increases for wealthy farmers
    + This tax will never go away even after the cause is gone (look at the ATM tax…?)
    + The list goes on and on and on…
    = Responsible way of encouraging Business & Investment in the US.

  2. Steve says:

    ASD, right to the point. Just 5k hear, just 10k there. No wonder companies are putting their money elsewhere.

  3. Douglas Annlot, M.S. says:

    Dear Sirs:
    Why don’t e-mail this article to the
    JOHN McCAIN campaign; and by CERTIFIED US MAIL
    also, directly to John McCain in ARIZONA, so that
    his staffers DO NOT throw it away and he does not
    ever see it!!!!!!!!!

  4. just saying says:

    Sounds fair to me. The wealthiest half a million people probably benefit more from the government than the middle class, and I can’t believe they would deny supporting our veterans. If they do, they should move out of the U.S.. My family has one active person in the Army, and have had one give his life in Iraq. None of us makes a million dollars a year, but we have sacrificed much more.

  5. foutsc says:

    This is a typical class warfare tactic disguised as helping the troops. Why not tax the rich another 1/2 % to give the troops a big pay boost or a million dollar death bonus? Or eliminate poverty, or lower gas prices. Why not tax them more to pay for health care for those who need it, crumbling infrastructure, education costs?
    What if government decides they’re not getting enough money? They’ll just define “rich” down and take money from more people.
    Another question. What happens if one year the .47% tax doesn’t cover the program? Do you take more from the rich or do you define rich down or do you take the money from the general funds?
    You see? Every program starts like this. They say they’ve found a way to pay for it, but we eventually end up deeper in debt.
    You want a better GI bill? Then propose it like any other government program. Not enough money coming in? Cut spending somewhere else or raise taxes. Don’t resort to cheap gimmickry. James Webb is a good man, but he’s a populist hothead that makes McCain’s temperament look saintly in comparison.
    The super rich know how to avoid taxes like this anyway. Then end result will be less capital in the US and less employment due to them investing their money somewhere like Ireland or Eastern Europe where this type of crap doesn’t go on. Cuss the super rich, but they’re the ones who provide jobs in this country. I’m not rich and I’m not defending the rich. I’m just asking you to consider some basic economic common sense before you jump on Webb’s feel-good, eat the rich bandwagon.

  6. Occam says:

    Buzzzzzz. Wrong answer genius. It points out the deceitful divisiveness of the typical pandering Democrat. That being, when you can’t make logical argument, or don’t want to cut wasteful spending to make room for required spending, blame and/or sack the rich, after all it’s their fault, they don’t deserve what they have earned; they must have somehow cheated us. This is pure demagoguery typical of the morally corrupt liberal Democrat. Those so called rich Americans are usually the same Americans that provide millions of non-government jobs ,…, you know, real jobs. Only thing more pathetic than a deceitful pandering tax and spend liberal democrat, is the gullible government dependent consistency they have cultivated and depend on for votes.

    BTW. I’m not one of the evil rich Americans, but if I was, I’d be looking for legal ways to protect my assets from the ravenous liberal majority, rather than investing it in the American economy.

  7. USMC GI Bill Veteran. says:

    Shucks, why stop with taxing just a few thousand dollars from the extremely wealthy? Obviously, the Democrats think the wealthy are bad people (except for the liberal ones), so sock-it to them. Take almost all their money away and give it to veterans. When veterans become too wealthy, take it away from them and give it to not-veterans. After a while, government will get to be even better at taking money away from people.

  8. foutsc says:

    We need more veterans standing up and saying this is BS. “It’s for the children” has lost its appeal, so now liberals use “it’s for the veterans” as if we were children. We’re not. This is an exploitive sales appeal to shame people out of their money. There are veterans issues that need more attention and money, but let’s attack them in a straightforward, adult manner.

    Another thing to consider: If they can do it to the rich they can (and eventually will) do it to you.

    One of our greatest presidents, Ronald Wilson Reagan once said that a government big enough to give you everything is also big enough to take it all away.

  9. […] is that it is too expensive ($52 billion over 10 years) and that the Dems will pay for it by taxing the rich. McCain proposes to pay for his bill through a reduction in discretionary […]

  10. […] is that it is too expensive ($52 billion over 10 years) and that the Dems will pay for it by taxing the rich. McCain proposes to pay for his bill through a reduction in discretionary […]

  11. redsoxx11 says:

    please stop crying about taxing the rich, none of you care becasue you don’t have to send your kids of to war. To bad for you if your taxes go up, I bet you wouldn’t complain if they raised them just to pay for the war in it’s self. Now they want to help kids who put there lives on the line for you to make your millions. You’re all sorry and I can gaurentee not 1 of you would last 2 minutes over there.

  12. Linda says:

    I’d really like to read this blog but the light gray type is driving my eyes crazy. Can anyone over 25 read this?

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