For anyone listening to the president recently, he seems to like to repeat that lie that his plan “to tax the rich” is not class warfare. I guess the assumption with him is that if he repeats this lie enough times it makes it true and perhaps he is a hero in his own eyes from the novel 1984 where double-speak is normal and where everything done is good by the Government. Really odd that supposedly a well-educated person could think like this.
What are we supposed to do with a president who is so far from reality that he has no clue what normal Americans deal with? While the president is giving away barrels of money to solar companies and other cronies, the rest of us have to have a balanced budget that is not in the trillions of dollars. He will not balance a budget or pay down what is owed like American’s are forced to. So what do we do? Well the solution like in 1984 is to put the truth out for the world to see.
The increase in taxes is said to be purely so that the poor people of this country do not have to foot the bill for stupid stimulus packages which ended up making the economy worse and by far just ended up wasting more money that we never had in the first place. So basically the president makes a mistake and his first thought is to make the “rich pay their fair share since the president is such a moron.”
Nothing new under the sun with the president who just does not get it and as I have discussed has no clue on the economy and thinks his platitudes of robbing from the rich and giving to the poor mean anything.
But let’s look at another rich person’s tax return and see what we find out:
If we look at the own man’s tax return, we see that he paid just 23% in taxes for the year 2010. This was with an income of just a little over 1.7 million. Normal people do not make that kind of money in the first place and the issues are not that we need to increase taxes on the rich, the issues are that we need to fix the tax system. The Obama’s were able to claim exceptions for over 300k of this income. (361k) Normal people like me and you only get deductions of say 11k for married couples. By using these deductions, the president was actually able to save over 100k in taxes (127k)
Other places that they “saved on their tax return”:
17k saved due to maximum placed in self-employed 401k
22k saved through “the foreign tax credit”
1k saved through capital losses declaration.
This seems rather at odds with the new taxes that would increase his taxes by a total of 69k (the Bush tax cuts). So by gaming the system he saved over twice as much in actual taxes paid then the tax increases he talks about will really accomplish. Wouldn’t the better method be to just find a way that these deductions do not exist and that everyone truly pays their fair share versus our president who pays 23% of his income when his marginal tax rate is 35%?
None of Obama’s plans will make anyone pay their fair share so to speak and the loopholes and tax shelters remain. They will not be closed at all. The loopholes are going to still be there so perhaps instead of taxing based on “how good your accountant is” we should be taxing on a flat rate with no deductions. Tax every penny made equally and maybe then everyone will pay their fair share, otherwise when you discuss raising taxes and using platitudes such as “the rich need to pay their fair share.”….well you are just lying when you also turn around and tell people it is not class warfare.
What we need instead of platitudes and double-speak is some truth and some actual fairness injected into politics. As the tax system stands today, lots of people give up hard-earned raises and other perks because the tax system is so convuluted that people who make more sometimes actually make less money. Now there is another 1984 like comment…to earn more means to earn less. Where does this nonsense end?