Sunday, September 18, 2011

Obama's Millionaire Tax - Just More Class Warfare

Socialist President Obama is desperate to win reelection.   We all know that.   Obama figures the only way he can rally his PEEP's; those that pay no income taxes at all, those on the dole, illegal aliens, union employees and companies benefiting from crony capitalism that donate to Socialist campaigns is to play the tried and true Class Warfare card.  It is getting really old.   Obama is calling it the Buffet tax because billionaire Warren Buffet is begging to be taxed more.   What a bunch of baloney.  Warren Buffet has done everything possible to avoid income taxes by donating billions to the Gates Foundation.   It is reported that Buffet only takes a small annual salary.  That is because most of Buffet's income comes in dividends and capital gains that are currently taxed at 15%, rather than the top federal income tax rate of 35%.   Finally, it was recently reported that Buffet's company is years behind in paying corporate income tax because of disputes with the IRS that remain to be settled.   All of this makes perfect sense for someone who is a billionaire. 

However,  if Warren Buffet wants to pay more in income taxes, he can either just add what ever he wants to pay to his tax return, or stop using the tax code, as written, to avoid taxes.     This whole discussion is pretty stupid.   Americans are not taxed too little,  all levels of government spend too much.   And,  entitlements like Social Security and Medicare need to be reformed to prevent their bankruptcy.   Raising taxes on anyone will not change that reality.  Our elected representatives, of both political parties, are addicted to spending like crack addicts.  Let's face it.   The federal government has grown in scope and size well beyond anything the Founders could have ever imagined.   It is time to shrink the federal government, not give politicians even more money to buy votes to stay in power not matter how "fair" it sounds.   Taking more money out of the private sector and giving it to government only compounds the problem.    Government is not the solution; it is the problem. 

We need a hiring freeze to cut 500,000 employees from the federal government over five years, through normal attrition, not lay off's, out of the 2.65 million federal civilian workforce.   This common sense approach will help bring government spending down from Obama's 25% of GDP to around 17% of GDP and save trillions of dollars.  In the process, we should eliminate redundant programs, agencies, commissions and departments.   The last thing we need to do is give the federal government one dime more to make our lives miserable by even more government intrusion and regulation.

We need to take back our country in 2012 and 2014.  While class warfare may appeal to some people in America, it is a job killer.   And, there are many studies that show that the higher the tax rates, the less the government will earn in revenues because high tax rates depress the economy and change behaviors.  When taxes are raised, the rich don't get poorer, the poor get poorer because it is their jobs that go away.   So Obama's class warfare is a job killer. 

Socialist President Obama is stuck in a time warp.   Obama is reliving the Great Depression and the New Deal.  The only problem with the New Deal is that it was a job killer.   Unemployment from 1932 - 1939 never went below 12% and was often as high as 20% as a result of Roosevelt's Socialist Schemes that killed jobs.    Albert Einstein once said that doing the same thing over and over again and expecting a different result is the definition of insanity.   Raising taxes on anyone during a Recession/Depression is fiscal lunacy.    It will just push more jobs overseas. 

We have to take back our country in 2012 and 2014 by making Obama a one term President and sweeping his Socialist pals out of government.   These characters are destroying our economy and bankrupting our country.   We have work to do.   We have to clean out the barn and send these Socialists packing 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.   A millionaire's tax sound nice; but it will do nothing to restore economic growth or create jobs.   In fact, it will be a feel good job killer. 

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