Filed under: Capitalism, Democrat Corruption, Economy, History, Politics, Taxes | Tags: Compulsive Spending, Economic Incomprehension, Income Mobility
Will Obama’s wrongheaded policies destroy American Income Mobility? You cannot take enough money from the rich to make the poor not poor. There simply aren’t enough people in the top 1%, and they don’t have to sit around and pay those increased taxes. They can rearrange their finances. They can pack up and move. Sounds like it would work, you demonize the rich, claim that they are not paying their fair share. But don’t stop to ask what their fair share is, for the top 1% of taxpayers already pay almost as much in federal taxes as the entire bottom 95%, and half of that group paid no taxes at all in 2010.
Have you noticed that the Democrats keep talking about “tax cuts for the rich” when there are no tax cuts for anyone even under discussion. If the Bush tax cuts are allowed to expire (the fiscal cliff) then everybody’s taxes go up. Republicans would like to see tax cuts for everyone, for that would help the economy to grow and more jobs to be created, but that is not on the table, because Barack Obama will not cut back on his spending. He doesn’t think he has to, and he wants to do a lot more spending.
Filed under: Capitalism, Democrat Corruption, Economy, Politics, Progressivism, Statism | Tags: Andrew Klavan, Compulsive Spending, Crony Capitalism
President Obama has been trying for four years to promote the claim that the financial crisis was caused by the hated Bush tax cuts for “the rich.” Democrats always hate tax cuts, because they believe in BIG government, and you can’t have BIG government without lots of tax revenue.
Democrats also believe in “fairness” which means that income should be redistributed from those who earned income to those who didn’t earn any or enough. It just isn’t fair that some people should work harder or have more expertise or be luckier than others who don’t work hard or have any expertise and just aren’t lucky. Although “luck” isn’t always as lucky as people think. Statistically, the people who win lotteries usually turn out to be less lucky than they were in the first place.
Bill Clinton left a recession for George W. Bush. The “booming” Clinton economy was booming largely because of the “dot-com bubble” when everybody with a computer thought they were going to make their fortunes online. President Obama wants to go back to the Clinton tax rates because the rich paid more then, but he wants to pretend that Bill Clinton’s much lower spending didn’t exist, didn’t happen, spending is good, don’t even suggest that I should cut back on spending. Did you know we have 54 Christmas trees in the White House? Although we’ll be in Hawaii for most of the Christmas season. Out of touch.