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The 2% Illusion - Obama's Expensive Domestic Agenda Will Cost America's Middle Class
WSJ ^ | 2/26/2009 | rxsid

Posted on 02/26/2009 12:48:44 PM PST by rxsid

Barack Obama's Expensive Domestic Agenda Will Cost America's Middle Class - WSJ.com

The 2% Illusion

http://online.wsj.com/article/SB123561551065378405.html?mod=djemEditorialPage

"Obama has laid out the most ambitious and expensive domestic agenda since LBJ, and now all he has to do is figure out how to pay for it. On Tuesday, he left the impression that we need merely end "tax breaks for the wealthiest 2% of Americans," and he promised that households earning less than $250,000 won't see their taxes increased by "one single dime. This is going to be some trick. Even the most basic inspection of the IRS income tax statistics shows that raising taxes on the salaries, dividends and capital gains of those making more than $250,000 can't possibly raise enough revenue to fund Mr. Obama's new spending ambitions." [snip]

and it goes on to explain:

"But let's not stop at a 42% top rate; as a thought experiment, let's go all the way. A tax policy that confiscated 100% of the taxable income of everyone in America earning over $500,000 in 2006 would only have given Congress an extra $1.3 trillion in revenue. That's less than half the 2006 federal budget of $2.7 trillion and looks tiny compared to the more than $4 trillion Congress will spend in fiscal 2010. Even taking every taxable "dime" of everyone earning more than $75,000 in 2006 would have barely yielded enough to cover that $4 trillion." [snip]

(Excerpt) Read more at online.wsj.com ...


TOPICS: Business/Economy; Front Page News; Government; News/Current Events; Politics/Elections
KEYWORDS: 111th; agenda; bho2009; bho44; bhoeconomy; budget; democrats; economy; federalspending; fundedbysoros; lbj; middleclass; obama; obamataxplan; socialism; sorocrats; soros; spending; tax; taxandspend; taxes

1 posted on 02/26/2009 12:48:44 PM PST by rxsid
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To: rxsid

A pox on the rats house, hollywood and all the liberals and independents who voted for change. This guy is doing irreparable harm to our country.


2 posted on 02/26/2009 12:51:10 PM PST by jersey117
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To: rxsid

It may COST the Middle Class ... or will it DESTROY the Middle Class??


3 posted on 02/26/2009 12:51:27 PM PST by gwilhelm56 (WE THE PEOPLE Demand TALK RADIO to be our 1st Amendment MEDIA WATCHDOG!!!)
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To: rxsid

I apologize for repeating this constantly, but math is NOT a friend of liberals.

Even simple math.

Such as addition.

That’s why they’re liberals, and why they are in congress - where qualification for office does not include ability to do anything.


4 posted on 02/26/2009 12:51:28 PM PST by Da Coyote
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To: rxsid

Hell his plan will cost everyone in this country. The rich get soak. They start cutting back. Charities start getting dried up. The middle class loses jobs. They get soaked. They start getting on lines for financial help. The lower income start losing jobs because the rich are cutting back. They are on the financial help lines. The medical people, doctors, nurses, etc. all cut back including working hours. Medical help goes down in quality. All this is happening as we speak.

All because we have a half blackman who is on a power trip and wants full CONTROL!


5 posted on 02/26/2009 12:53:10 PM PST by classified
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To: gwilhelm56
"It may COST the Middle Class ... or will it DESTROY the Middle Class??"

Excellent question. I would say it will destroy the middle class....intentionally!

6 posted on 02/26/2009 12:53:50 PM PST by rxsid
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To: rxsid

7 posted on 02/26/2009 12:55:25 PM PST by Bobalu (McCain has been proven to be the rino flop I always thought he was.)
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To: rxsid

The Democrats want the economy to get worse.

It’s much easier to enslave a frightened, cynical and uncertain population.

You would think that this would beg the question: “If we have to scare the people to get our agenda implemented then what’s wrong with our agenda?”

The hard-left is asking no such question.

All great leftist leaders had to first break the will of the masses before they could take power.

It’s happening to Americans right now.

They scare you then they rape you.

But Americans aren’t doing much about it so, have at it Dems! Your sheep are ready for the slaughter house.

Don’t worry about a thing, Kenyan, they won’t resist you, far too passive, far too flimsy these modern-day Americans.

Do whatever you want to them.

Americans, just go about your day like nothing is happening to you and your family.

Just pretend someone will save you.

Just pretend the money and the freedom was never really yours in the first place—this makes it much easier.

You might have your doctor prescribe some Xanax, Zoloft or Prozac to help you adjust to your new life.

It’s much safer for you to do nothing.

Other people will suffer along with you—at least you won’t be alone.

After all, there nothing you can do about it.

Listen to the Kenyan’s soothing voice and just let it go.

Be at peace in your new environment.

Everything is beautiful.

Slavery is not so bad.


8 posted on 02/26/2009 12:55:34 PM PST by Boucheau
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To: rxsid

9 posted on 02/26/2009 12:57:41 PM PST by Caleb1411 ("These are the days when the Christian is expected to praise every creed except his own." G. K. C)
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To: rxsid

Well, this should be interesting.

“The 2% Solution,” by Barack Obama-Jama.

What a tool.

He’s talking about raising taxes in a severe recession.

That’s like drilling a hole in the bottom of boat to let the water out quicker.

What a putz.


10 posted on 02/26/2009 12:57:51 PM PST by RexBeach ("Do your duty in all things." Robert E. Lee)
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To: classified
"The problem with socialism is that you eventually run out of other people's money.[to spend] " — Margaret Thatcher

http://www.goodreads.com/author/quotes/198468.Margaret_Thatcher

11 posted on 02/26/2009 12:58:34 PM PST by rxsid
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To: rxsid

12 posted on 02/26/2009 1:00:40 PM PST by PERKY2004 (Proud Military Wife -- my DH is in his 26th year of military service! PRAY 4 OUR TROOPS!)
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To: rxsid

The middle class always has the most to lose, and therefore always provides the stability for a society. An attack on the middle class is an attack on the stability of the society itself.

Mix in an influx of lower class immigrants (legal, illegal, doesn’t matter) and you’ve got a volatile situation just waiting for a spark.

The question becomes, then: What is to be gained by the Obama-Democrat attacks on the middle class?

We understand their “a crisis is a terrible thing to waste” way of thinking. There’s nothing novel about that.

So how will they exploit this destabilization? What is it they hope to accomplish?


13 posted on 02/26/2009 1:03:19 PM PST by LearsFool ("Thou shouldst not have been old, till thou hadst been wise.")
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To: gwilhelm56

His plan is to destroy the middle class and even the upper middle class.

People who think he wants to “fix” the economy are delusional.


14 posted on 02/26/2009 1:03:19 PM PST by Frantzie (Boycott GE - they own NBC, MSNBC, CNBC & Universal. Boycott Disney - they own ABC)
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To: PERKY2004

Obama is far far worse than Carter or Clinton.


15 posted on 02/26/2009 1:04:25 PM PST by Frantzie (Boycott GE - they own NBC, MSNBC, CNBC & Universal. Boycott Disney - they own ABC)
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To: LearsFool

I think he’s doing it intentionally, but thinking that somehow he will go down in the history books as someone who saved the situation. Read up on the Cloward/Pliven situation. Create a catastrophe to get people to agree to drastic change.


16 posted on 02/26/2009 1:12:46 PM PST by The Right Stuff
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To: rxsid

Obama is just flat lying to our faces. 1 +1 = 3? But not many people will hear these facts.


17 posted on 02/26/2009 1:17:25 PM PST by RobbyS (ECCE homo)
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To: rxsid

DON’T TREAD ON ME, ZERO!....


18 posted on 02/26/2009 1:22:35 PM PST by AngelesCrestHighway
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To: rxsid

Problem is...1% of the country has been paying 40% of the income tax....those folks were in the financial industry..they..and 40% of the income tax, essentially have evaporated.


19 posted on 02/26/2009 1:23:10 PM PST by mo
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To: classified
re:The medical people, doctors, nurses, etc. all cut back including working hours.)))

Of course.

20 posted on 02/26/2009 1:23:18 PM PST by Mamzelle (Boycott Peggy Swoonin')
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To: Frantzie

Obama is far far worse than Carter or Clinton....

I hope all the bozo’s who voted for this whack job are happy!....


21 posted on 02/26/2009 1:23:35 PM PST by AngelesCrestHighway
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To: Boucheau

All you have to do is look at the rise of Hitler in Germany. Exactly the same pattern.

The Military Channel has a Series titled “Hitler’s Bodyguards” that cronicles Hitler’s rise to power. Started with just 8 bodyguards and grow to 100,000’s of SS, SA and Brown Shirts.

We must stopped this insanity now! .. by whatever means it takes!


22 posted on 02/26/2009 1:24:09 PM PST by TNoldman (Conservative Values FOREVER!)
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To: mo

There you go again, confusing people with facts.


23 posted on 02/26/2009 1:28:34 PM PST by RobbyS (ECCE homo)
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To: rxsid

Having not watch the speech the One gave before Congress, I have noticed in rebroadcasts of the “not one dime” part, he, in addressing the American people, makes absolutely no eye contact with the camera in front, and, presumedly, the American people. It was more like wink, wink, nudge, nudge, to the assembled Bolshecrats, I am lying and I can’t say this to the folks without snickering.

The Great Prevaricator strikes again.


24 posted on 02/26/2009 1:32:39 PM PST by depressed in 06 (I'm becoming nostalgic for the incompetence of Carter.)
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To: classified; rxsid; Mamzelle; socialismisinsidious

I work part time for an hourly wage, covering other doctors when they’re out for vacation, etc. The local hospital pays me when I work in some of their clinics - although I actually contract with another doctor who runs their clinic system. When I was negotiating my original (sub)contract with the hospital, the executive I dealt with made a big deal out of the non-compete/no-harm clause.

He noted that doctors seemed to work much less and have a completely different attitude when the hospital was paying them than they did when they were out on their own.

Well, duh! Doctors are having our work ethic beat to death (Residents and students can’t work more than 100 hours a week), our professional judgment constantly doubted (come on — do you really think an ink pen and some post-it notes are worth more than my integrity?), and told that our consciences are getting in the way (yes, I know that “a woman’s right to choose ...... is worth more than my duty to God). If you take away the profit motive, what incentive do we have?


25 posted on 02/26/2009 1:35:42 PM PST by hocndoc (http://www.LifeEthics.org (I've got a mustard seed and I'm not afraid to use it.))
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To: hocndoc

I have always wondered why docs don’t unionize.


26 posted on 02/26/2009 1:37:38 PM PST by Mamzelle (Boycott Peggy Swoonin')
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To: gwilhelm56
It may COST the Middle Class ... or will it DESTROY the Middle Class??

Bingo! You just uncovered the actual agenda of Zero's administration.
27 posted on 02/26/2009 1:47:04 PM PST by Signalman
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To: rxsid

At least there will only be one class in America...poor.


28 posted on 02/26/2009 2:50:58 PM PST by AmusedBystander (O-bam-a-cide - noun, 1. killing of USA by idiotic policies. 2. a present-voting poser.)
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To: rxsid

and he promised that households earning less than $250,000 won’t see their taxes increased by “one single dime.
______________________
I hope the GOP will take advantage of this broken promise but somehow I doubt it.


29 posted on 02/26/2009 2:57:13 PM PST by Joan Kerrey
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To: Mamzelle

In case you missed it,his Universal Health Scam will cut payments to health insurance companies,doctors and hospitals.Wonder how they feel about voting for this pile of sewage last Nov.?


30 posted on 02/26/2009 3:32:31 PM PST by pistolpetestoys (Sarah ROCKS!!!!!)
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To: rxsid

“The Small Business Destruction Act of 2009”


31 posted on 02/26/2009 6:03:40 PM PST by headstamp 2 (Been here before)
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To: Mamzelle

Why don’t doctors unionize?

We talk about this question, all the time, on our super-secret doctor listserves.

The official and most visible reason is that we’d work for free and put our patients before our own business interests — at least enough of us to nullify any threat of a strike.

Then, there is the fact that some of us would do anything for money— even stab our colleagues in the back — and the rest of us are smart enough to know that.

The most important reason we don’t unionize is not that we don’t understand how important it is to work together. We can understand the reality that if we aren’t making enough money, we can’t keep on doing this and we’ll lose the best and brightest minds who should be going to med school.

However, it’s like working with Conservatives: trying to get docs to do anything together is like herding cats.


32 posted on 02/26/2009 11:15:54 PM PST by hocndoc (http://www.LifeEthics.org (I've got a mustard seed and I'm not afraid to use it.))
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