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.