Sunday, October 16, 2011

Republicans Buffett Rule - Congress Pass It Now

Socialist President Obama claims that the "rich", that he defines as Singles earning $200,000 or more and married couples earning $250,000 or more are ready, willing and able to pay higher federal income taxes.   As a result, Obama put higher taxes for the "rich" into his $447 Billion SwindleUS Plan IV Jobs Bill.   Socialists in the US Senate turned Obama's proposals into a Millionaire's Surtax of 5.6% in addition to the 35% top rate, which if enacted, which did not and will not happen, would mean that small business owners, that are mostly Sub Chapter S corporations, with net revenues of $1,000,000 or more would pay a top federal income tax rate of 40.6%.   This does include the 3.5% Medicare surcharge that is in ObamaCare, or other state taxes that would also be applicable.  

Small business owners could easily be paying more than 50% of their income if Socialist prevailed with all the tax increases they are proposing in their Class Warfare strategy.   70% of Americans work for small businesses.  Taking more money from small businesses will kill private sector jobs; plain and simple in order to keep paying government employees 20 - 40% more than is typical in the private sector.   There is something very wrong with this picture. 

Obama has referred to these tax increases as the Buffett rule, named after Warren Buffett, the billionaire who does everything possible to avoid paying income taxes and then complains that the rich are not paying their "fair share".   What a hypocrite.   So Republicans have called Obama's bluff.   They have proposed their own Buffett rule making it easier for anyone who is "rich", or presumably anyone else, to voluntarily pay higher taxes with all of the extra money paid in to the federal government going to pay off the National Debt.    What a great idea.   Most important, let's just see how many "rich" Americans, including Warren Buffett actually voluntarily pay more income taxes to the federal government.   Obama has nothing to lose by signing this legislation if it makes it through Congress; but the Socialists will not allow it to go through the Senate because it will demonstrate the folly of Obama's assertions.  

Here are the facts.   People with taxable income over a million dollars current pay 29.1% of their income in federal income taxes, plus whatever they pay in state income taxes.   People earning $50,000 - $75,000 pay about 15% of their income in federal income taxes, plus whatever they pay in state income taxes.  The top 1% of income earners; those earning more than a $1,000,000 a year pay 40% of all federal income taxes paid.   The top 10% those earning more than $200,000 pay 70% of all federal and state income taxes paid.  The bottom 50% of income earners pay no federal income taxes at all and most likely little state income taxes.   The United States already has the most "progressive" income tax system in the world. 

So when President Obama and other Socialists in government continue to say the "rich" do not pay their "fair share",  Obama is lying and practicing Class Warfare as his only hope of winning re-election.   Obama as a demagogue continues to perpetuate a "Big Lie" as propaganda because the President's Socialist Schemes have failed to restore economic growth and job creation in America.  

Years ago when this Blogger was a Social Studies teacher, I regularly taught about the evils of prejudice and scape goading.  Tyrants and Dictators and even some elected leaders always use scape goads in an attempt to stay in power when they have failed to govern.   Hitler blamed Germany's post World War I problems on the Jews and the Communists.  Dictators like Stalin, Mao, Chavez, and Castro have blamed poverty on the "rich" and educated.  When Nero, the Roman Emperor, set fire to Rome to clear a big section for a new palace he wanted to build, he blamed it on the Christians.   The end result of scape goading in many cases was the murder of millions of people.  

In Obama's case, he is attempting to follow the Franklin Roosevelt play book in an attempt to stay in power.  Both Roosevelt and Obama blame the "rich", the banks, Wall Street and big corporations like oil and coal companies for their failures.   The New Deal and Obama's Socialist Schemes have failed to bring down unemployment and in fact have actually made it worse.  Obama is playing a very dangerous game as he attempts to divide our country pitting the Takers against the Makers.   It is not the story we see with the mobs in the street.   They are not the 99% of Americans.   They are the 50% of Americans that pay no income taxes at all and are on the dole one way or another feeding at the trough.  They are disillusioned college students that have thousands of dollars in student loans that must be repaid. 

Obama is in sighting rage in these people and it will only lead to violence on our streets as is happening in Europe.   This will back fire on Obama and the other Socialists in government.  In the mean time, let's enact the Republican version of the Buffett rule and see how many "rich" people voluntarily give up more of the their income to pay of the National Debt, rather than fund more Socialist Schemes and entitlement programs.  

We have to take back our country in 2010 and 2012 by sweeping these Socialists, including President Obama out of office.   We don't need higher taxes and more regulations that are killing jobs.  The majority of the American people support free markets, limited government, lower taxes and less regulations, term limits, a balanced budget, real energy, education, health care and entitlement reform, a strong national defense, including securing our border and fighting Terrorism, the right to bear arms, the sanctity of life and family values that are the foundation of our nation.    Socialists including the President do not support these common sense concepts.  

We have to finish the job we started in 2010 by electing common sense Conservatives at all levels of government.   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.   We have to make Obama a one term President to get our nation back on track.  We have work to do.  Let's get it done.   In the mean time, Mr. Buffett, please put your money where your mouth is and start writing big checks to the federal government instead of doing everything possible to avoid income taxes.   We will take your money; no problem, to help pay off the National Debt.      

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