Here’s a prime example of why this country is suffering from a crisis of confidence. The people --- even the ObamaBots --- are learning that you simply can’t believe a durn thing that comes out of Dear Ruler’s mouth .. or should I say, that a speech writer enters into Dear Ruler’s teleprompter.
Just a few days ago, Barack Obama gave a speech announcing his grand plan to reduce our deficit. He spent much of the time demonizing the wealthy, harping on the millionaires and billionaires and corporations, and telling people to pay their fair share. Throughout it all he insisted, "This is not class warfare.” He said, “I reject the idea that asking a hedge fund manager to pay the same tax rate as a plumber or a teacher is class warfare. I think it’s just the right the thing to do.” Hate to tell you this Obama but even if you think it is right, doesn’t mean that you aren’t waging war against the achievers in our nation. But he insists, “This is not class warfare. It’s math.”
However, just two days later during a speech in New York, Barack “this is not class warfare” Obama declares himself to be a warrior for the middle class.
“Now, you’re already hearing the Republicans in Congress dusting off the old talking points. You can write their press releases. “Class warfare,” they say. You know what, if asking a billionaire to pay the same rate as a plumber or a teacher makes me a warrior for the middle class, I wear that charge as a badge of honor.”
Folks, there are only so many ways I can say this. Barack Obama is full of shit. He is a warrior for the middle class because he is championing the idea that the government needs to use its police power of government to take stuff away from wealthy people and give it to people more likely to vote for him. Even if Obama succeeded in doing that, it would hardly make a difference to our spending/debt/deficit crisis … though it would certainly affect (negatively) jobs and investment, seeing as these evil rich people are the ones who invest in companies and create the jobs. The Tax Foundation has some more enlightening statistics for you using IRS statistics:
Taking half of the yearly income from every person making between one and ten million dollars would only decrease the nation's debt by 1%. Even taking every last penny from every individual making more than $10 million per year would only reduce the nation's deficit by 12 percent and the debt by 2 percent.
Not enough? Here’s another way to look at it!
If the highest rate of 35% were raised by a factor of 20% to 42%, then the additional tax revenue would be $43.5 Billion, not much of a dent in our $1.665 trillion deficit. So, let's raise the rate by a factor of 50% to 52.5%; the additional revenue would be $108.9 billion. Still nowhere near enough, so let's just tax it at a rate of 100%, bringing in an additional $404.8 Billion. Unfortunately the country is still $1.26 trillion in the hole for the year.
Despite the conventional wisdom in Libtardia, revenue is not the problem in this country. The problem with our system is not that we are allowing rich people to keep too much of their money … that’s lib logic, by the way … the problem is that we simply are spending too much. How can people forget that Obama increased government spending by more than 25% in his first two and one-half years? Just how does he get away with this? He increases spending by that amount and doubles our debt ... then he says that our problem is that the rich simply are not paying their “fair share” in taxes.
And by the way, the “fair share” term is all you need to understand that this is a class warfare campaign. It’s all he has --- he has no record of accomplishment to run on in next year’s election. Stirring hatred and resentment for high-achievers is his preferred method. Not that Obama cares, but America simply cannot afford a European welfare state without sacrificing our freedoms to pay for it.