Skip to content
Catholic Online Logo

By Catholic Online (NEWS CONSORTIUM)

10/12/2012 (2 years ago)

Catholic Online (www.catholic.org)

America's wealthy are worried about Obama who is scapegoating them.

The wealthy are worried and they're buying ad time to make their case to the American people as to why they are not the villains Obama is making them out to be. One billionaire, Thomas Peterffy, has already spent $5 million for ads that inform voters about the risks of socialism.

Peterffy is a living embodiment of the American dream, but now Obama says he's not paying his fair share.

Peterffy is a living embodiment of the American dream, but now Obama says he's not paying his fair share.

Highlights

By Catholic Online (NEWS CONSORTIUM)

Catholic Online (www.catholic.org)

10/12/2012 (2 years ago)

Published in Politics & Policy

Keywords: Peterffy, taxes, Obama fair share, American dream


LOS ANGELES, CA (Catholic Online) - At some point, it became unpopular to be successful. Particularly if that success came with wealth. The Obama campaign has capitalized on this, accusing the wealthy, who pay billions in taxes each year, of not paying their fair share. 
For some, it's a slap in the face after they have contributed millions in revenues to the government. 

The great concern is that the government with its creeping tax hikes on the wealthy is essentially sneaking socialism in via the back door. After all, politicians gain easy votes by pledging to take from the rich to give to the poor. 

What must be understood is that America was a nation founded by businessmen who wanted economic freedom among others. Most of the founding fathers were businessmen of one sort or another. Weary of what they saw as excessive taxation and regulation, they combined with other frustrated colonists to cast off British rule. 

Their success allowed them and their descendants, right down to us, the world's wealthiest nation. It is also a land of unbridled opportunity, permitting anyone with a good idea and a willingness to work to build a fortune for themselves. 

This is what Thoman Peterffy did. He was born in Hungary in 1944, as the Red Army attacked that country's capitol. He grew up impoverished in the subsequently established socialist state. In 1965, he managed to emigrate to the US, where he became a computer programmer on Wall Street. 

Peterffy learned English, and eventually created a program that allowed brokers to make trades online. He built his business, "Interactive Brokers" and eventually paid nearly $2 billion in taxes on it. 

He has created jobs, and donated to causes. 

Yet, he is being told that he's not doing enough by the rhetoric of the Obama administration. 

Peterffy is worried that anti-capitalist rhetoric of the administration could dissuade millionaires and billionaires from creating jobs and take their money elsewhere. This has happened in France, where overtaxed elites have already begun a mass exodus in the face of ever-increasing tax rates. 

Paterffy crated a commercial that does not mention political parties, but shares his concerns with viewers. He hopes that people watch and carefully consider their decision this November. There is more at stake than many people realize. 


---


Pope Francis: end world hunger through 'Prayer and Action'


Copywriter 2015 - Distributed by THE NEWS CONSORTIUM

Pope Francis Prayer Intentions for March 2015
Universal:
Scientists: That those involved in scientific research may serve the well-being of the whole human person.
Evangelization: Contribution of women: That the unique contribution of women to the life of the Church may be recognized always.


Rosaries, Crosses, Prayer Cards and more... by Catholic Shopping .com


Comments


More Politics & Policy

Social Security numbers issued to more than half a million illegal immigrants in U.S. Watch

Image of

By Catholic Online (NEWS CONSORTIUM)

The cornerstone to lawful employment to labor in the United States, it has been recently revealed that more than half a million illegal immigrants - or 541,000 illegal aliens. This disheartening statistic has been revealed by Carolyn Colvin, acting commissioner ... continue reading


Hillary Clinton caught in shameful lie on family's history Watch

Image of

By Abigail James (NEWS CONSORTIUM)

As Hillary Clinton continues to shape her platform for presidency, she is reported as boasting her family's immigration history. During one of her first speeches as an official candidate, Clinton said that "all her grandparents had immigrated to the United States," ... continue reading


Federal government sets all-time record for tax revenue Watch

Image of We will not know how much additional tax revenue the Treasury pulled in until it releases its next daily statement tomorrow afternoon. Every dollar of it will add to the new record.

By Catholic Online (NEWS CONSORTIUM)

Tax day has arrived - and with the close of business on April 14, the Treasury brought in a record $1,477,901,000,000 since fiscal 2015. Began on October 1, 2014, these figures are courtesy of the Daily Treasury Statement. Despite this record tax revenue, the ... continue reading


INSANE: U.S. federal tax code is 74,608 pages long! Watch

Image of If the tax code continues to grow at the same pace it did over the last century, it will pass 100,000 pages in 2050.

By Catholic Online (NEWS CONSORTIUM)

If you had your taxes professionally prepared this year, you may now fully appreciate what your accountant or cleric did for you this year. The U.S. federal tax code is a whopping 74,608 pages long! Try to imagine trying to digest all the nuances that go along ... continue reading


'We're in uncharted territory here' U.S. official admits ISIS' reign of terror is crushing Watch

Image of

By Abigail James (NEWS CONSORTIUM)

The U.S.-led coalition against ISIS continues, now with 62 countries working to put an end to ISIS. Canada has become the latest country to shoot airstrikes against ISIS. The fight against ISIS is being described as "off the charts historically." LOS ANGELES, CA ... continue reading


Who are Hillary Clinton's supporters? Well not women, and not young Americans: A look into Clinton's shocking Facebook following Watch

Image of Hillary Clinton is the favored Democratic candidate for the presidency in 2016, but Facebook demographics show she may have a long way to go.

By Matt Waterson (NEWS CONSORTIUM)

Hillary Clinton is the de facto face of the Democrat party's aspirations for the presidency in 2016, but you wouldn't know that by looking at her Facebook pages. LOS ANGELES, CA (Catholic Online) - The single largest percentage of Clinton's fans aren't even from ... continue reading


Lois Lerner emails expose secretive IRS warnings Watch

Image of The lower-level employees

By Abigail James (NEWS CONSORTIUM)

Former director of Exempt Organizations Unit at the Internal Revenue Service (IRS), Lois Lerner is reported as warning other IRS officials to manage the lower-level employees written conversations in 2013. LOS ANGELES, CA (Catholic Online) - Lerner resigned from the ... continue reading


Rubio steps into spotlight for 2016 run Watch

Image of Florida Senator Marco Rubio will officially announce his intent to seek the Republican nomination for the president today, following months of speculation.

By Matt Waterson (NEWS CONSORTIUM)

The question over which Republican will be the next to announce their intent to run for the nomination in 2016 has been answered, as Marco Rubio joins Senator Ted Cruz and Rand Paul in the race which will soon be flooded with even more competitors. LOS ANGELES, ... continue reading


COLD WAR NO MORE? U.S. President Barack Obama and Cuban President Raul Castro meet Watch

Image of Obama and Castro greeted each other courteously amid an explosion of camera flashes Friday night. The two sat at the same table but not directly next to one another.

By Catholic Online (NEWS CONSORTIUM)

The United States and Cuba may not be the best of friends, but the meeting between U.S. President Barack Obama and Cuban President Raul Castro this past weekend marks a turning point in international relations. It was the first time that leaders from both ... continue reading


Putting the big bite on the top 20 percent: Unlucky few pay 84 percent of all U.S. income taxes Watch

Image of The U.S. federal income tax system is very progressive - higher income groups pay increasingly higher tax rates, and therefore disproportionately higher and higher shares of the total income taxes collected.

By Catholic Online (NEWS CONSORTIUM)

Who pays what in income taxes? According to a study in the Wall Street Journal, only 20 percent of all U.S. taxpayers pay 84 percent of all taxes owed. How does every day, ordinary taxpayer fit into this schema? LOS ANGELES, CA (Catholic Online) - Individual ... continue reading


All Politics & Policy News

Newsletters

Newsletter Sign Up icon

Stay up to date with the latest news, information, and special offers

Daily Readings

Reading 1, Acts 6:8-15
8 Stephen was filled with grace and power and began ... Read More

Psalm, Psalms 119:23-24, 26-27, 29-30
23 Though princes sit plotting against me, your ... Read More

Gospel, John 6:22-29
22 Next day, the crowd that had stayed on the other ... Read More

Saint of the Day

Saint of the Day for April 20th, 2015 Image

St. Marian
April 20: When St. Mamertinus was Abbot of the monastery which St. ... Read More

Inform, Inspire & Ignite Logo

Find Catholic Online on Facebook and get updates right in your live feed.

Become a fan of Catholic Online on Facebook


Follow Catholic Online on Twitter and get News and Product updates.

Follow us on Twitter