To: Kaslin; ding_dong_daddy_from_dumas; stephenjohnbanker; DoughtyOne; calcowgirl; Gilbo_3; NFHale; ...
RE :”The Europeans squeeze the middle class because thats the only way to finance big government. Thats the point I made in this interview on Fox News.
To elaborate, European politicians have learned that theres a limit to the amount of revenue that can be obtained by taxing the rich. In part, this is because there arent enough rich people to finance a bloated public sector.
But its also because Laffer Curve effects are very powerful at higher income levels. Simply stated, rich taxpayers usually have much more control over the timing, level, and composition of their income...
Its quite likely that European nations maxed out on the amount of revenue they can collect from the rich, which is why they started going after the middle class.
The same is true in the United States. The New York Times already has admitted they want higher taxes on the middle class. And as you saw in the clip above, Senator Schumer views higher taxes on the rich as a start.
This is their ultimate goal of raising taxes on the rich first, to tax the rest of us more; You can see that here in Maryland where Dems raise taxes on the rich as a chaser for all the taxes they raised on the middle class.
Ironically Obama to get re-elected has consistently ran on lower taxes for most people, but wait till after the election. I expect he will (would) veto tax cut extensions.
posted on 04/14/2012 9:16:48 AM PDT
(Obama : "I will just make insurance companies give you health care for 'free, What Mandates??' ")
posted on 04/14/2012 10:59:19 AM PDT
To: sickoflibs; Cincinna; AdmSmith; AnonymousConservative; Berosus; bigheadfred; Bockscar; ColdOne; ...
posted on 04/15/2012 7:28:20 PM PDT
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