The Class Warfare Jobs Speech
Maybe I missed it, but was there any real proposal in Obummer’s speech that would actually create a job? I ask,
because the speech I heard seemed to concentrate on millionaires all over America paying taxes at lower rates than
their secretaries. (Oh, there it was: “Secretaries” have jobs, don’t they?)
“Middle-class families shouldn’t pay higher taxes than millionaires and billionaires,” Obummer said Monday. “That’s
pretty straightforward. It’s hard to argue against that.”
Except that it’s nowhere near the truth - and the government’s own information says so – telling us an entirely
different story.
On average, according to the I.R.S., the wealthiest people in America pay a lot more taxes than the middle class or
the poor. They pay at a higher rate, and as a group, they contribute a much larger share of the overall taxes collected
by the federal government.
In his White House address Monday, Obummer called on Congress to increase taxes by $1.5 trillion as part of a 10-
year deficit reduction package totaling more than $3 trillion. He proposed that Congress overhaul the tax code and
impose what he called the “Buffett rule” (named for billionaire investor Warren Buffett who wrote in a recent piece
for The New York Times that the tax rate he paid last year was lower than that paid by any of the other 20 people in
his office). “Warren Buffett‘s secretary shouldn’t pay a higher tax rate than Warren Buffett. There is no justification
for it,” Obummer said. “It is wrong that in the United States of America, a teacher or a nurse or a construction worker
who earns $50,000 should pay higher tax rates than somebody pulling in $50 million.”
(I’d submit that it’s also wrong that in the United States of America, a failing company like Solyndra should get $530
million of taxpayer money, but that’s an issue for another time.)
Obummer’s mis-information (if not outright lie) hinges on the fact that, for high-income families and individuals,
investment income is often taxed at a lower rate than wages. The top tax rate for dividends and capital gains is 15
percent. The top marginal tax rate for wages is 35 percent – and nearly half of American households won’t pay either
rate. But comparing only the Capital Gains Tax Rate to the Income Tax Rate in order to distort the facts and create a
tax inequity out of thin air is beyond the pale. Capital Gains have already been taxed once (when they were originally
earned as income.)
Warren Buffet and Obummer both know this and are intentionally misleading the ignorant masses. I know it shouldn’
t amaze me anymore, but I just can’t believe that not one member of the main stream media ever calls Obummer out
for his blatant lies.
So, once again, we had to watch Obummer play “hide the salami” with his false comparison of Income Tax rates with
Investment Income tax rates. This might come as a shock to some, but it’s safe to say that this administration
distorts and spins everything they say to their utmost ability. They’ve nearly perfected the art of making a lie into a
deeper lie on top of other lies.
No matter how many times you point out the facts, liberals like Obummer are going to continue with their “the rich
need to pay their fair share” mantra. You can’t convince them otherwise – primarily because they want to get money
from someone besides themselves for their idiotic program ideas. They feel justified by telling themselves that if
someone has more then they must’ve gotten it in a dishonorable fashion, somehow. They believe that somebody
else has to take care of them and they really don’t care how much that somebody else might be hurt doing it.
It’s nothing more than class warfare. Even if Obummer was able to tax “the wealthy” at whatever rate he desires, it
wouldn’t create a single job or significantly reduce the deficit. Confiscating the entire net worth of the 200 richest
people in America (approximately $1.1 trillion) wouldn’t pay for more than 3 or 4 months of Obummer-spending! He’s
just creating a boogeyman for the villagers to come after with pitchforks and torches.
God forbid we drug test welfare recipients, or make curfews, or take away voting rights for the nearly 50% of people
who contribute absolutely nothing to this country. So, my question for Mr. Obummer is: “What is their fair share?”
Personally, I’m sick and tired of hearing about “fair share”. When the 50% of Americans paying 0% of federal income
taxes start chipping in and paying something, then we can talk about fair share.
In the meantime, if Warren Buffet wants to pay more he can start by writing the check for the back taxes he already
owes the IRS.
By all means, pay up Mr. Buffet.