Monday, July 9, 2012

Obama Proposes Tax Increases On The "Rich"

In the month of June, 85,000 Americans went on Disability, while only 80,000 jobs were created.   Despite a dismal economy, Socialist President Obama continues to push for tax increases on the "rich" that Obama defines as married couples earning $250,000 a year or more.   So this could include a fireman married to a teacher.  Or, an accountant married to a lawyer.  It is very likely that two married professionals could easily be "rich" by Obama's definition.  Most important, because most small businesses file as individuals, not as corporations, many small businesses, the job creators in our economy since 70% of Americans work for small businesses, fall in this category.  

So this is Joe the Pizza Man, or the neighborhood dry cleaner.  Obama want to raise the federal income tax rate from 35% to 39.5%.  Of course, this does not include additional new taxes in ObamaCare, or all local and state taxes and fees many pay.   As such, there are many Americans, in the top 10% of income earners, already paying more than 50% of their income in various taxes and fees, while about 50% of Americans pay no income taxes at all.  

Yet, Socialist Obamanistas argue that the "rich", married couples and small businesses earning more than $250,000 a year, do not pay their "fair share".   Obama continues to play the Class Warfare card dividing our nation in a desperate attempt to win reelection.  Obama went even further in a recent speech saying that only the poor and middle class have good values.  Oh really.  Many of the poor are single mom's, on Welfare, Food Stamps and Medicaid, that have had numerous children out of wedlock.  Are those the values Obama is referring to. 

And, while certainly many in the middle class have great values, there are many middle class families that are completely dysfunctional because of alcohol or drug abuse and marital, or financial problems.  The same could be said for the "rich" in equal proportions.  Obama's statement about values somehow suggesting that rich and successful people have poor values is about as dumb as it gets.  In fact, the "rich" and Republicans in particular support charities, the arts and various other worthy causes far more than wealthy Socialists and the middle class; but you will never here the facts from Obama.  

Obama claims that the "rich" should pay the higher tax rates that were in place during the last two years of the Clinton Administration.  Obama claims that higher tax rates were responsible for job creation and prosperity during the Clinton years.   The reality is that we experienced the Dot Com Boom during the Clinton years, which created an artificial bubble and then turned into the Dot Com Bust in late 2000.  And, as a result of Clinton's higher tax rates, by the time Bush II become President in 2001 and before 9/11, the United States was already in a Recession.  

Raising taxes is always a job killer and ironically produces less revenues for the government.   Further, assuming the economy will not be negatively impacted by the tax increases Obama is proposing on the "rich", which will not be the case, if these tax increases were imposed, it would bring in just 8 days worth of revenues to the federal government, based on current deficit spending.   The likelihood is that the federal government will actually bring in less revenues if tax increases are imposed because tax increases are always a job killer.  

The Congressional Budget Office has already estimated that ObamaCare will result in 800,000 - 1,000,000 jobs lost because of the $500 Billion in tax increases in ObamaCare, 75% of which will hit the middle class.   Raising taxes on the "rich", married couples earning $250,000 or more and small businesses, during a Recession, is just plain crazy.   However, Socialists like Obama are such ideologues that they argue for tax increases even though history always tells us the end result is job loss and less revenues for the federal government.  Obama actually wants to see more Americans on the dole dependent on government to buy votes.   As such, Socialists do not see job loss as detrimental because it is their ticket to power to continue feeding at the trough.  

Republicans in Congress must stand up and just say NO.  The Bush Tax cuts should be extended for a few more years, pending real tax reform.   All but charitable deductions should be eliminated as all tax rates are brought down for all Americans.   It is not that the government taxes to little.  It is that government spends to much.   Giving the federal government and Obama more of our hard earned money that they can squander on more Solydra's and paying public employees 40% more than what is common in the private sector makes no sense.  

The Labor Department just reported that $14 Billion was paid out in over payments for unemployment benefits and this is just the tip of the iceberg of waste, fraud and duplication of programs, agencies, commissions and departments that exist in the federal government.  Yet, Obama wants hard working people to give him even more of our money to waste.   Get Real!!   

Instead, we have to take back our country to prevent the bankruptcy of the United States.   In order to restore economic growth and job creation again in America, we must cut taxes and eliminate regulations, balance our budget and pay off the National Debt.   The Socialists, including President Obama, will never do these things, which is the reason we must sweep Socialists at all levels of government, including President Obama, out of office.  

We must elect Mitt Romney the next President of the United States and take control of both Houses of Congress to get our country back on track.   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.  In the mean time, when you hear President Obama on the campaign trail, always remember that Socialists will lie, cheat or steal to remain in office, feeding at the trough.   Obama's call to raise taxes on anyone during a Recession is just plain dumb.  

P.S.  To donate to Mitt Romney to make Obama a one term President, just go on and click on Donate.   Once on the page, look for the line that says I know my Referrers number.  Click on that box and type in 8544, the National Freedom Forum Referral Number to make our voices heard.  Donate as much money as you can to take back our country. 

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