Tuesday, September 20, 2011

Cards Talk And Numbers Don't Lie & GM

Cards talk and numbers don't lie; but Socialists do lie all the time.   Socialist President Obama, as usual, is saying a big whopper when he says the "rich" do not pay their "fair share" of income taxes.   That is just plain baloney.   Upon further research and information provided by the IRS, it turns out that those earning more than $1,000,000 a year, which are probably primarily Sub Chapter S small businesses, are paying about 29.1% of their income in federal income taxes.   Of course, this does not include various state and local taxes that would probably bring this up to about 40% or more.    In fact, the top 1% of income earners pay 38% of all federal income taxes even though they only represent 20% of actual income earned.   Those earning $50,000 - $75,000, the middle class, actually only pay 15% of their income in federal income taxes.   So even in the new math, the "rich" are paying twice as much.  And, of course, Obama's PEEP's include the 50% of Americans that pay no income taxes at all.  

So, when Socialist President Obama calls his proposed $1.5 trillion tax increase the Buffet rule because Warren Buffet has used every legal means possible to avoid paying federal income taxes; yet says he should pay more, as the excuse to raise taxes,  Obama is just plain lying about the facts.   As he practices Class Warfare to please his left wing PEEP's, Obama is fast becoming the Liar and Chief.   The "rich" that Obama describes as singles earning $200,000 or more and married couples earning $250,000 or more are already paying 70% of all federal income taxes paid in the US to subsidize the 50% of Americans, Obama's PEEP's, that pay no federal income taxes at all.   Besides, raising taxes on anyone will retard the growth of our economy and destroy even more jobs.   Obama's plan might even push the US from a Recession into a Depression.   Further, raising taxes will solve no problems related to entitlements; Social Security and Medicare, that will go bankrupt in the next 10 - 15 years without serious reform, with or without tax increases. 

What this Blogger wants to know is why aren't those of us that pay all these income taxes getting a personally written Thank You note from President Obama each year.   Without us,  Obama would need to stand on a street corner with a tin cup begging for money because the government would not be able to fund all the redundant boondoggle programs, agencies, commissions and departments, or the entitlements that so badly need reform and those on the dole, illegal aliens and public employee union members getting outrageous compensation and benefits.   Further, Obama would not have the billions of dollars that he doles out to companies, benefiting from crony capitalism, that contribute to Socialist campaigns. 

On another topic, GM announced that they are moving their headquarters for their Electric Car business from Michigan, with the second highest unemployment rate in the US, to Shanghai, China.  GM is just following GE's lead because GE is also moving two of their major subsidiaries to China.   GE also got Billions in bail out money.  Go figure.  This means that GM's research and development function for electric cars will be in China and that they will also manufacture electric cars in China,  presumably as well as the United States, at least for now.    This is all very interesting since US taxpayers have provided GM $60 billion in bail out money, most of which, that remains to be paid back.   Much of the billions in bail out money that went to Chrysler/Fiat was just written off entirely.  

The fact is that GM continues to cut jobs in the US because their fully loaded cost for union workers in the US is $55 an hour compared to just $7 an hour in Mexico.   Presumably,  fully loaded cost for labor in China will be even less.   And, what is of even more concern is that China usually requires Western companies to share their technology as a condition for manufacturing in China.   This means that GM could be giving China state of the art technology to build electric cars so that 10 years from now, China will be competing with GM to sell electric cars at much lower cost.   President Obama brags that he saved GM with tax payer money.   And now, we see our return on investment with both GE, GM and Chrysler.   What chutzpa!  What is wrong with this picture. 

Card talk and numbers don't lie; but Socialists like President Obama and his pals in government do lie all the time, which is the reason we must sweep them all out of office in 2012 and 2014.   We will not see economic growth and job creation again in America unless we elect pro-business Conservatives that understand how to create jobs.   Obama is a tax, spend and regulate JOB KILLER who does not understand free market capitalism because he is a big government Socialist.    We have to make Obama a one term President to prevent the destruction of our economy and the bankruptcy of our nation.   We must take back our country in 2012 and 2014.   We can do it.   We must do it to preserve our freedom, our nation and way of life for the sake of our children and grandchildren.   President Obama is a liar, plain and simple.  I am sorry to say that it is what it is. 

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