Posted on 09/13/2011 5:26:57 PM PDT by Kaslin
Obamanomics: Government spending failed on jobs, so the president has shifted to Plan T: taxes, including limiting mortgage interest and other deductions — plus still more spending. His unlikely-to-pass plan is 100% politics.
When an angry Barack Obama repeatedly demanded at a joint session of Congress last week that lawmakers "pass this jobs bill," he knew their answer would be no. But at the time, no one outside the White House knew the game the president was playing.
In one of the most deceitful ploys ever attempted against the American people, President Obama kept it to himself that he was planning a full-frontal assault on tax deductions to "pay for" nearly $450 billion in new stimulus.
Individuals earning more than $200,000 annually and married couples taking in more than $250,000 would see restrictions on itemized deductions for mortgage interest, charitable giving, and state and local taxes. Coming out of the blue as a high-unemployment economy threatens a double-dip recession, these tax increases define the term "nonstarter."
Obama also wants to tax "carried interest" at the rate of ordinary income instead of at the lower capital gains rate — a class warfare attack on the profits of venture capitalists, private equity specialists and other investors that raises just $18 billion, a fraction of the cost of the bill. The president obviously attributes no value to such investors in the private jobs sector.
Club for Growth executive director David Keating tells IBD of "some remarkable conference calls in recent months with CEOs" he's listened in on. "They see job creators being viewed as just targets, sources of government revenues," Keating relates. "And so, their money is frozen on the sidelines."
(Excerpt) Read more at investors.com ...
Of course we know that because the real issue, as has been repeated here at FR, is not job creation but WEALTH creation, something we do best WITHOUT GOVERNMENT. That's why the leftists are not into free market creation of wealth.
Sean Hannity spoke with a Congresscritter on his show and the Congressman went through a list of items in this “bill” that have absolutely nothing to do with improving the employment situation.
Class warfare.
PUT PEOPLE BACK TO WORK - BUILD THE FENCE ON OUR SOUTHERN BORDER!
He will probably mention it on his shoe on FOX, when it comes on in about 30 minutes
shoe =show. I could not stop it in time
Well, after all, they are not unionized.
The hypocrite in chief is a real class act as always. Says no politics, just pass the bill. Then says if Congress doesn’t pass the bill, kids will get sick because schools won’t have proper ventilation! There is no low to which he will not stoop.
Look for months - like his barnstorming for ‘bummerCrap - non-stop for months.
He should be paying for this out of his own campaign funds.(Also, denying this is campaign time, the other side dosen't get 'equal time' - clever by too far.
I (tried) to read the full PDF of the Jobs Act, and there is no understanding it without referring to hundreds of other laws, mostly tax codes. It’s a nightmare. So I went on the white house website to read a few summaries, and there doesn’t seem to be any job opportunities for those who are not teachers, veterans or construction workers. Pretty much leaves my husband out, who is without work or opportunities for nearly 10 months now. But I did find this interesting “tool” that shows where your tax money is spent. Check it out:
http://www.whitehouse.gov/issues/taxes/tax-receipt. I guess the good news is that we’re not paying any income taxes this year because—surprise—no income, and the $800 I have paid in on my puny income I’ll get back as soon as I can file. What a joke. I would rather be paying taxes!
Obama’s plan is to give more of our money to his supporters. The Obama Administration is corrupt.
How do you starve an Obama supporter ??
It’s really very simple, just hide their food stamps under their work shoes.
The best position for Republicans is not to play.
And the brilliant Obama, just by putting this on the table is further increasing future uncertainty for higher income people which will only cause them to further hunker down and hold off spending and expansion. These are the very people the country needs to create jobs.
Obama is a certifiable moron.
Channeling Ed Sullivan? As in "Really big"?
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