Barack Obama has called for the Bush tax cuts to continue. As I have pointed out, he is only doing it because it’s an election year and it is politically expedient for him. He is not doing it because he really believes it’s the right idea. In doing so, he only wants it for one class of people: those making under $250,000.
He also made the move to hit nearly a million small businesses with new taxes.
What is so ironic in all of this is that he claims the American people are with him. Obama claimed on July 9 that he believes the complete opposite of the GOP. The GOP believes that prosperity comes from the top down.
“I disagree. I think they’re wrong,” he said, calling for no more top-down economics. “The wealthy got wealthier, but most Americans struggle.”
Americans are struggling because of Obama’s failed fiscal policies. Americans are struggling because he has increased taxes. Americans are struggling because the unemployment rate is remains above eight percent. Americans are struggling because he just mandated that they all have to purchase health insurance or be taxed for not having it. Americans are struggling because Obama told them to let him disperse $800 billion of their money in a irresponsible stimulus bill of which many companies went belly up and very few jobs were created. Americans are struggling because companies are moving overseas due to ridiculous taxes and the ObamaTax healthcare law. Americans are struggling as he puts his “plan of cap and trade system” which he claimed “electricity rates would necessarily skyrocket” into place. Americans are struggling for a host of reasons, but top down economics is not one of them.
“I believe it’s time to let the tax cuts for the wealthiest Americans — folks like myself — to expire,” Obama said. “I might feel differently if we were still in surplus.”
There is no chance of that happening in the next decade without serious dismantling of the welfare system, cutting back on foreign wars and elimination of a host of federal departments.
While Obama claims that he is not proposing anything radical, but simply wanting to return to the Clinton-era rates, what he is pushing forward is what Bush implemented, at least partially.
He then claimed “The American people are with me on this,” Obama said. “Poll after poll shows that is the case.”
Actually the only ones behind him on this are the ones who are happy to have the federal government take money from people who have a lot and give it to them. I’m quite happy to receive a tax cut, but I think it should be fair across the board for all Americans. Government should not be pulling this nonsense of pitting one group of people against another, but they leave the tax code in effect in order to manipulate us. If you disagree, just look at how you get tax cuts for certain behaviors or purchases or what you earn.
The only way there would be a true, fair and honest tax, would be to have a flat tax and personally I believe even Herman Cain’s proposal of nine percent was too high. Most people don’t realize that at the time of the revolution taxes were lower than at any other point in our nation’s history. While Benjamin Franklin claimed that the figure was around twelve percent at the time, he was known to exaggerate a bit. After all only a three percent tax on tea brought about the famous Boston Tea Party.
Hard working, honest, moral Americans are for taxes that are fair, not which are put in place to divide us and that is exactly what Barack Obama is doing. He is the great divider in our land. While I am for tax cuts, I am not ‘with him” on how he is going about it, because in the end this will only cause the economy to crumble even further, not invigorate it.