Skip to comments.I'm Already Sick of the Wealth Envy Crowd
Posted on 04/12/2012 8:00:54 AM PDT by Marathoner
Not only is Barack Obama a liar but he is a coward. Yes, I will continue to call the Oval Occupier a liar so long as he insists on this asinine concept that the rich arent paying their fair share. And I will also throw in the word coward because his focus on the evil rich and the Buffett Rule is two-fold: It is a distraction from the true failures of his presidency and it demonstrates his unwillingness to reform our broken tax code. His own administration admits that it is broken. So their solution is the call for taxes on millionaires? If that was the fix to our behemoth tax code, then people wouldnt be spending millions of dollars trying to come up with ideas on how to fix it.
If Barack Obama was truly concerned about Americas future he would cut this crap about fairness and the Buffett Rule and tackle entitlement reform and tax reform. But those arent sexy subjects when you have a re-election campaign to win.
Yes, Dear Rulers speech in Florida yesterday was every bit as absurd as you would expect.
Obama says, "Do we want to keep giving tax breaks to folks like me who don't need them? .... Or do we want to keep investing in those things that keep our economy growing and keep us secure?" Theres that secure word again. Obama believes that government is the only source of security for Americans. Investing is just a fancy way of saying spend more to grow the size of government.
And dont forget that magic word need. Obama really loves to talk about all of these evil people trying to keep money they dont need. Just remember who first popularized this little saying. It was a guy named Karl Marx. No .. not from The Communist Manifesto (though Obama borrows from that as well), its from a Marx writing titled Critique of the Gotha Program. Heres the full quote; notice how it starts out:
In a higher phase of communist society, after the enslaving subordination of the individual to the division of labor, and therewith also the antithesis between mental and physical labor, has vanished; after labor has become not only a means of life but life's prime want; after the productive forces have also increased with the all-around development of the individual, and all the springs of co-operative wealth flow more abundantlyonly then can the narrow horizon of bourgeois right be crossed in its entirety and society inscribe on its banners: From each according to his ability, to each according to his needs!
This is Obamas governing principle. If you need something the government will provide it to you. If you have more than you need it is the governments purpose to take it from you and give it to the people who do need it. Obamas philosophy is stated in the opening seven words of Marx quote.
Obama also says, "What drags down our entire economy is the growing gap between the ultra-rich and everyone else. Yeah .. those successful, innovative, hard working entrepreneurs are really dragging down our economy. The fact is, when you divide our economy into five segments, with the rich on one end, the poor on the other, and the middle class in the center, the numbers show that the people in the lower brackets are actually moving up. The higher income brackets are getting larger, the lower income brackets shrinking. Hmmmmm.
What drags down our economy, Dear Ruler? Parasites. Its the parasites, leaches and moochers that are dragging down our economy with their incessant demands for more and more of someone elses money. Our economy is also being dragged down by your penchant for hyper-regulation. The costs of just the regulations thrown at our economy during your junta is in the billions of dollars. Gas prices? Now theres something with a negative affect on our economy and your solution? Well, somehow you think that if you raise taxes on the evil oil companies gas prices will come down. Thats economic demagoguery, and its dragging down our economy as well.
The achievers are dragging down nothing.
The fact is that raising taxes on the rich is also a tax increase on job creators who pay taxes through individual tax returns. The money that Obama so emphatically insists on taking is money that could otherwise be spent on investing in news businesses or expanding existing ones with equipment or employees. This will do nothing but slow job growth. A recent study from Obamas own Treasury Department shows that 90% of businesses that pay taxes through the individual income tax code and employ workers would pay the higher taxes under Obamas plan.
In the grand scheme of government spending, how much money are we talking about from this Buffett Rule? In terms of debt reduction, it would reduce the debt in Obamas budget by about 1 ½%. Or another way to think about it asking every federal agency and department to get by with 99% of what it received last year would generate six times the savings of the Buffett Rule.
Obama is trying to define this race in November. He wants the Buffett Rule to act as a sort of Litmus Test, distinguishing those who buy into his horsesqueeze from those who refuse to step in it. Dont let Obama define the parameters of this election. The election needs to be about his failures and the future of freedom in this country
not about fairness and the evil rich.
Agreed. Also, taxing the rich is mostly an illusion, since those how have the means to control prices, wages, and/or choose where or whether to operate a business can ultimately shift those taxes onto the non-rich, as mentioned in my post “Let’s Face It - You Can’t Tax The Rich:
I am so sick of Obama and his administration saying that we all need to pay our “fair share” What about the 46% of the American population that pay no income taxes??? when are they going to pay their fair share??? I would like to hear someone ask Obama this just once!!!
Funny. I’ve been sick of them for over forty years, since my younger sister was jealous of my larger allowance...
Well, obviously, that's racist code language. I don't have the "decoder ring" that the race baiters have, but I can recognize it when I see it.
What do individual taxes on the rich have to do with job creation?????
Well... it means more IRS agents have to be hired.
And while they envy those they call greedy, they ARE the greedy. See my tagline.
Many small business owners file their business taxes under their individual filings, not as corporations. Tax their income and you are taking money away from their businesses, hence taking away from their capital that could be used to create a job.
I am becoming more convinced that the Wealth Envy Crowd are the upper middle class that confuse activity with productivity and can’t figure out how the neighbors who appear to have more and less worries “get ahead.” They also don’t realize that a lot of people who have outwardly material goods are deeply in debt or broke (see retired athletes for the most extreme examples).
The most vocal class warfare poster of the FB friends lives in a neighborhood where the least expensive home listed today is 589K. She drives a Mercedes. She sends one of her children to a private high school that costs 22K this year for full tuition. The vacation pictures (2 a year!) are to very nice places. In her world she is struggling.
In PrincessB world, that’s a really nice life. Am I jealous? Not really. I am happy with what I have materially and don’t mind the big vacay happening once every 2-3 years. I have “more” than a lot of people out there.
Why does a business have employees in the first place?
Answer: business have employees to increase profits.
So you're saying a business that loses some profit to higher taxes, will lay-off employees and thereby lower its profits even more?
Absolutely. Higher taxes also steal money from the pockets of customers. Less business requires fewer employees. There is also a matter of losing profit margin. Higher taxes may make you unprofitable until you dump labor costs and have the remaining employees work extra hours to keep the business afloat. That is very common. Sometimes you have nothing left to cut. You just go out of business. Have a look around. It has been happening frequently in the last 3 years.
Higher taxes on the rich only steals money from pockets of a very few rich customers, most of whom have so much money already they don't know what to do with it.
Higher taxes may make you unprofitable until you dump labor costs
How many times do I have to say it?
Businesses have employees because employees make money for the business.
Saying if the business owner has to pay more income tax he will lay off employees to save money, is like saying the owner of three goldmines will save money by closing one of the mines.
Class warfare and lack of practical experience running a small business.