Posted on 07/10/2012 7:09:09 AM PDT by SeekAndFind
In his remarks at the White House yesterday President Obama Called for extending Bush tax breaks for another year -- at least for certain taxpayers, those earning less than $250,000 per year. Apart from the continued exacerbation of class warfare in pitting "the middle class" against "the wealthy," a more deadly nuance lurked in his words.
Twice in his brief speech he pointed out that we need to enact this cutoff because "we cannot afford to spend on tax breaks for the wealthy." Those words should frighten and arouse anyone who has an income. They are not ill-chosen words; they are a look into the very political and economic heart of the current president and his regime.
Allowing income earners to keep a portion of their money is considered by them to be spending by the government. In other words, all of your money is theirs to spend.
They spend it on their special programs, their cronies, their allies and their adoring lapdogs. They spend some of it on the producers in order to keep the well flowing. Government has no money to spend except what it confiscates from those whose labor and intelligence produce wealth. A tax reduction is not government spending except in the convoluted sense of socialist elitists who believe they own everything and they alone know what and in what quantity is best for the masses.
Government is necessary and valuable. Its primary functions are to restrain evil, maintain internal peace and order, and keep its citizens secure. It needs to encourage individual liberty and personal responsibility. The details of how these are accomplished are matters of legitimate debate. One thing not subject debate is what government owns. It owns nothing.
(Excerpt) Read more at americanthinker.com ...
I believe in 2013 FICA goes back up 2%, effectively wiping out much of the ‘middle/lower class’ tax extension break....
Have you checked for spotted owls nesting on your property? Any lynx fur? How about Sand Dune lizards? Any pools of water that might be controlled as navigable waterways? Is a big box store looking for land that would yield some good property tax revenue...think Kelo.
“And the administration will blame this on the Repubs. And they will get away with it.”
But it wouldn’t have to be that way IF Republicans/Conservatives would shout the truth about all this to everyone, over and over.
Of course, someone on FR recently pointed out to me that most MSM networks won’t even sell them commercial time to get their points out. I’d believe it and that’s a huge problem.
So, what to do to educate people?
Only the top marginal rate. However, there will also be increases in dividend and capital gains taxes.
Looking back at 2003, you can see how the tax cuts affected the average tax rate for everyone:
But, it didn't really affect the share of income taxes paid by the various income groups. In fact, the higher income taxpayer ultimately paid a higher share of income taxes, at least until 2008:
...then you proceeded to make my point. They don't want to raise money for governmental use, they want to change the power structure.
I don’t need to smell crap to know that it stinks.
As far as the actual value in revenue of allowing the Bush tax cuts to expire, a favorite saying of my late mother would seem to apply, “It won’t be enough to last til the water gits hot.” That ain’t a lot longer than a New York minute.
I think I heard the figure the tax on the “wealthy” will raise enough for 11 days of spending.
“I learned better economic theory in the 8th grade.”
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I learned better economic theory than that walking behind a mule before I was old enough for the 8th grade.
“Big tax bite, but now it cannot be taken as easily.”
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Spend much time in Fantasyland?
I don’t think the GOP ever used the Kelo decision as effectively as it could have when making the case against liberal Sup Court justices.
It ain’t about the “taxes” folks....it about your BODY/BRAIN belonging to them..the FEDS.
King George III held similar delusions.
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