A CEO's Powerful Warning
White tells workers "should understand the personal consequences to them of having our tax rates increase dramatically if President Obama is re-elected, forcing taxpayers to fund President Obama's future deficits and social programs (including Obamacare), which require bigger government."
"The tax rate we pay is not 17%, as Warren Buffett would have you believe; with state taxes it is roughly 45%. President Obama has announced that our planned tax rate would increase to roughly 65%, reducing our after tax income by 36% and dramatically reducing, if not eliminating, your and my RSP contributions."..
"the money will be sent into the abyss that is Washington, D.C. So, on top of the burden of having your personal taxes increase dramatically, which they will, your RSP contributions and healthy retirement are also at risk, all for the sake of maintaining an over-sized government that borrows 42% of every dollar it spends."