Skip to comments.Learn from Reagan's lessons of recovery
Posted on 01/28/2012 8:14:24 PM PST by SmithL
In his State of the Union address, President Barack Obama ratcheted up his class warfare rhetoric, calling for an America "where everyone gets a fair shot" and "everyone does their fair share" his latest attempt to blame upper-income Americans for our economic problems and hike their taxes.
In his State of the State address, Gov. Jerry Brown called for closing state budget deficits by increasing income taxes on the "wealthy" and hiking the sales tax. It's only "fair," he said.
"Fairness" code for income redistribution will be the theme of the 2012 elections. All year we will hear about "income inequality," "the gap between rich and poor" and that the only way we can solve our economic problems is to make the rich pay their "fair share" of taxes.
But the true inequality is that government spending is skyrocketing while middle-class income has shrunk. In the past four years, median household income fell nearly 10 percent, according to the Census Bureau, but the federal budget has ballooned 32 percent from $2.7 trillion in 2007 to $3.6 trillion in 2011.
The true inequality is that the top 1 percent of taxpayers paid 37 percent of all federal individual income taxes in 2009, with the top 10 percent paying 70 percent, according to the Tax Foundation, while nearly half of U.S. households pay no federal income tax at all, reports the Tax Policy Center.
The true inequality is that the top 1 percent of earners in California pays 40 percent of the state's income taxes while nearly half of California households pay no state income tax.
(Excerpt) Read more at sacbee.com ...
California's experience proves the fallacy of tax-the-rich schemes. California has among the steepest progressive income taxes in the nation, and we have raised taxes on upper-income residents many times. Yet we are running chronic budget deficits.Gov. Moonbeam and the Rats are convinced that they can tax the Golden State back into prosperity!
This lady ought to hear from a whole bunch of FReepers!!! Almost every comment following this article in the BEE was flaming her and trying to destroy the legacy of Reagan in any possible way!!!
We FReep pushy polls. Maybe we ought to push back at creepy commentators to conservative op-ed essays, as well... By writing a letter to the BEE editor!!! What else are ya going to do on a dull Saturday night with no good TV??? Do something for the cause of sanity where it's needed the most... In CA!!!
As goes California, so goes the nation has been a truism for some time. So, it would be a good thing if we could re-find our Reagan and get government under control or this spreads to other states.
Cutting taxes, spending, and regulations would go far in returning this state to its once productive former self. Going from the fifth to eighth place in world economic ranking is no small feat. Liberals, statists, and Utopians of all stripes have succeeded in bankrupting the Golden State. Good for them. Now, who's next?
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