Taxing the rich has nothing to do with fixing the out-of-control and irresponsible policies festering in Washington. It is a distraction; it is harmful for growth, and it is harmful for society.
Timothy Geithner said the Obama administration is "absolutely" prepared to go off the "fiscal cliff" if the evil Republicans dare to refuse to allow the Bush-era tax cuts to expire for the job creators (i.e. those making over $200K per year). The non-partisan Congressional Budget Office finds that unemployment would rise from 7.9 to 9.1 percent by the end of 2013 if the Obama Administration allowed America to go over the cliff.
If America does not go off the cliff, but only taxed the "wealthy," that is also bad for America. This "Eat-the-Rich" tax increase will hurt growth and result in a loss of 200,000 jobs, according to the CBO. Obama supporters are quick to point out that growth would only be lowered by a little bit.
So why do it at all?
CBO: raising top tax brackets would lower growth next year by one-tenth of a percent, compared to a 1.3% hit if middle-class taxes rose.
— StudentsforObama (@StudentsforO) December 6, 2012
Harry Reid tweeted a similar message.
Taxing the rich is not the solution. Those who make $200K can own the corner store or the local dry cleaners, and now they will not be expanding or hiring if they are continually battered with stifling government taxes and regulations.
Is this good for America?
Don't kid yourself. President Obama does not care about the deficit or the debt. He cares about the damaging concepts of "fairness" and "redistribution". It never occurs to some that the federal government, by taking from the producers and consistently wasting and abusing their hard-earned money, are being anything but fair.
If the Obama Administration was concerned about the debt, they would put forth a plan for spending cuts.
There is nothing "fair" about Obama's "fairness". Perhaps instead of going to Hawaii for 20 days, at a cost of $4 million taxpayer dollars; the newly re-elected president can put those funds into the deficit.
But then again, why should he bother? He won't be challenged.
Regarding his "commitment" to reform Medicare and Social Security, which he called "unsustainable" in 2009, Obama stated,
"What we have done is kicked this can down the road. We are now at the end of the road and are not in a position to kick it any further. We have to signal seriousness in this by making sure some of the hard decisions are made under my watch, not someone else's. ... You have to have a president who is willing to spend some political capital on this. And I intend to spend some." - Barack Obama, Jan. 15, 2009
What changed?
Image Source: Michael S. Wirtz, AP via USAToday
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Comments: 70
And HOW is it compassionate to steal from one group and give it to another group?
http://americanvisionnews.com/5084/obamas-rich-supporters-shield-themselves-from-his-tax-hikes
I love watching libtards trying to justify the immoral act of theft because the libtards can not control their profligate spending.
I love watching libtards bad mouthing the only source of money they have for paying for their bad habits.
Please explain you "bad habits" comment.
Bad habits like throwing money down green energy rat holes.
Bad habits like pretending to know how business works.
Bad habits like trying to control the economy thru redistribution of wealth.
ad infinitum
The list is surprisingly easy if you care to look around.
Like most people, I work, I pay my taxes and I pay my bills. I have never collected unemployment or welfare. I agree with being self sufficient. But I know people who did benefit from these programs and I know they wanted to work. I would like to think that If I had a misfortune and needed help, these programs would be there for me too.
If I ever make enough to be the top 2% of earners, I wouldn't be thrilled to pay an additonal 4.5% on my earnings over $250K, but I would hold my nose and pay.
Is someone's Obama Phone worth it?
What can we cut?
Simple 1% cut per year across the whole budget should balance it in less than 10 years. That will just balance the budget, then we will have to star to pay down this debt. But this is two extreme. Yet the alternative is that we turn that one million per tax payer into two million is that not extreme?
What can we cut?
Compared to Obama, Bush was a novice.
Agreed Bush overspent, overborrowed, and left office (according to this page anyway) with a "total public debt" of:Compare that (according to the same site) to what Obama has racked up in just 4 years. Obama's "total public debt" so far, at the time the numbers were compiled turns out to be:
Baby J. Dec 6, 2012, 8:21pm EST
Think about this Eric S; Republican policies -- tax cuts and unfunded wars -- will account for half the public debt by 2019. Now that's stealing -- any way you look at it.
Please explain you "bad habits" comment.
If we take him at his word, Obama's unpatriotic attitude is nearly double what Bush's was when O directed that comment toward Bush.
Then there's that "I'll cut the deficit by half in my first term" fairytale. Makes me want access to his college math grades even more if he actually thinks causing more debt means he has cut the debt in half.
In case he's reading this I'll give him a tip---
More debt means debt today is more than > yesterday's debt.
Cutting the debt in half is almost exactly opposite to that.
Cut in half means today's debt would be less than < yesterday's debt. +sheesh+
Renee Nal Dec 13, 2012, 11:12am EST
Well done, Lee. Thank you for that! Here is a nice flashback for you....and another....
Green energy is saving people billions of dollars across the country through energy savings. Saving money by not spending on fuel gives business the opportunity to use those dollars on other opportunities. Think about how much wealth was dumped down on the BP oil spill rat hole -- $40 billion (Solyndra was a mere $535 million). Energy independence will give us national security and keep us out of future oil wars.
I'm guessing that your business comment is about the auto bailout?
Redistribution of wealth is what government does. Had Mitt Romney and Paul Ryan won the White House, we would have seen a trillion dollar redistribution of wealth from Medicare and Medicaid recipients to millionaires and billionaires. Government takes tax dollars and redistributes it for farm subsidies, schools and building roads -- ad infinitum.
Raising the tax rates on the top 2% of earners to the same rates that were during the Clinton years is not going to cripple the wealthy and will certainly help reduce the deficit.
Hooo, so let me get this straight, government gets to choose how companies and people save money in a free economy and we all should be thankful? Wow. Any government that can tell you how to save money is powerful enough to destroy freedom. Is that what your guy meant by “Fundamental Change”? What does freedom look like after “Fundamental Change”? It looks like Socialism to me. Is that what you want? Is that who you are? A socialist? You do not like capitalism and freedom that much that you will empower your government to punish the rich. What happens when the rich are destroyed? They will come for you and your kids! Good plan!
“Raising the tax rates on the top 2% of earners to the same rates that were during the Clinton years is not going to cripple the wealthy and will certainly help reduce the deficit.” Good idea, let’s cut spending back to the level during the Clinton years too. But let’s see the cuts first this time, because the democrats make promises of cuts and they somehow never really seem to make it into the budget. So how is Obama’s Budget coming anyway? Have you seen it? Have you seen it for last year? Or the year before that? Or Ever??????? Lol…. Any law maker that can't produce a budget can't know much about business eather.
Socialists!
So far, I have not seen a single green energy plan that does not cost more money than it saves. If you know of even one, please tell me.
Not true. If he cared about fairness, he would not be targeting the rich. He would be targeting those who PRODUCE NOTHING and PAY NO TAXES. It is simply is not fair to me nor anyone supporting those leeches.
This is a society, not the jungle. It's not as simple as every man for himself; the law of the jungle does not apply. We as humans choose to live together because of the benefits we get from working together and looking out for our fellow human beings. How can you hope to make conservatives see the light when they don't get this basic concept? As soon as someone starts talking about helping out poor, old, disabled, or simply jobless folks, they cry "Socialism!" as if that's a bad word. Yes, socialism, if that's what you want to call it, because we are a SOCIETY.
Repubs, if you don't like sharing, go live by yourselves in the jungle, and then see how long you last.
Of course, no one likes having their money taken away. I don't especially enjoy seeing my paycheck shrink, even though I know it's for the larger good (and my own good, too). But if you're making, say, $5 million a year, it's certainly not going to hurt very much if you don't get to keep $2 million of it. You're still better off than almost everyone else in the world.
People in this country are hurting, some of them severely, as we go through this rough economy. It's only fair that those who have far more than they need to survive (or even to live comfortably) should contribute a little more to help everyone else, especially when they won't even really feel it.
I agree that demonizing a certain group and creating divisiveness is not good for the country. But the heartless, selfish attitude of so many Republicans makes it almost impossible for us NOT to demonize them in some way. The way I see it, they are the ones dividing the country, by setting themselves apart and expressing their lack of concern for others through their abhorrence of anything that might help those less fortunate than they are.
by the way, I'm still waiting for my free cell phone and free medical care. And all the other perks I get for being a poor, liberal democrat.
I am coming to you in deepest Sincerity. Why? Please, Tell me WHY?
I cannot understand the disingenuousness of such twisted and incongruous thinking.
I can't.
I just can't.
Her response will bear me out.
jeanne?
It is a lovely Night though, isn't it, Miss Nal?
And there is your problem. You believe this nonsense. Tattinger, don't you feel a bit silly believing that .47 of every Dollar is more helpful than $1.00???
Please, sir...
Hmmm, Daftness seems to be one of the D words, like Dumb, like Deny, like Democrat, like Deflect, and so on.
These people, and their "reasoning" and belief, are incredible. Just incredible...
Leftists.
Or, as jay has succinctly put; D.
jeanne, I'm addressing you, and I would rather appreciate a response:
What in God's name has come over you, that you believe such nonsense? What in God's name would confuse you so; that you believe that Elitist Politicians, who retire as Millionaires ON YOUR DIME, can slip half of each Dollar they STEAL from you, and can do more good with the other half than real Humanitarians can do with that DOLLAR??? Please; answer that for me. Do you understand that those fools, regardless of "party," are getting rich perpetrating such a Crime??? Are you familiar with Charities? Churches? Foundations?
Please: I Pray that your response doesn't include saying that "no-one cares, and therefore no help will be given." You sell the Decent short. Tune in with them, and have a look at what the Decent in this Country DO!!! Do you know how much Money Professional Golfers GIVE TO CHARITIES???? Are you aware of what Those Decent Men do with their FOUNDATIONS??? Tell me if you know! Do you not understand that WE ARE AMERICANS? AND THAT, AS THE MOST DECENT AND GIVING PEOPLE on the Planet, those TRULY in need would be HELPED??? Do you understand that half the reason People suffer, is because Of Leftism? Selfishness, in believing that it is the Governments "problem," so it is no longer the problem of the American Individual? If the Government wasn't blowing a stiff warm breeze up your knickers, then WHY are Blacks and the Poor worse-off than ever before? Why? Why?
Why?
Why?????
Mark-John, "Do you not understand that WE ARE AMERICANS? AND THAT, AS THE MOST DECENT AND GIVING PEOPLE on the Planet, those TRULY in need would be HELPED??? Do you understand that half the reason People suffer, is because Of Leftism?" Breaks my heart. It is so perplexing. And all because of politics.
I've just committed response to this very thing a moment ago.
Are you reading my mind, Sweetheart?
Brilliant question. I'd love to hear the answer.
And by the way, you have my permission to tax them rich folk too 'cause we all know they have 'way' too much money. And while ya'll at it pass some mo laws so all those special groups that whine, and complain will be happy, and vote. And take away that phrase on the court house that says something about "God," and then burn all the bibles! Then outlaw the words "God," and any reference to morals mentioned in the bible because we certainly don't want to offend those pesky athiests.
And while ya'll at it ya'll better build some mo prisons 'cause guys like me, and my buddies will continue to rob, and murder because we can't seem to find the door to the school for an education. And since the rich people will be taxed more they won't be investing their money to creat jobs...hell! Jobs are overrated anyhow.
And please don't legalize them drugs, cause we all gots to make a little money somehow, and selling drugs is a thriving industry thanks to the useless, and archaic drug laws.