In his resent campaign speech whereby he admonished congress no less than 30 times to “Pass this Bill” Obama again demonstrated his excellent ability to spew forth an unrelenting torrent of lies. He repeatedly said we must all pay our fair share and that the rich were not meeting that obligation. Class warfare is a waste of everyone’s time! Obama’s proposal is for a $ 1.5 trillion dollar tax increase primarily directed at those who employ people and those who create jobs; is a stupid thing to propose in the middle of a depression. Any tax increase in a depression is the exact wrong solution to the problem. So lets from the get-go understand our tax structure. People who earn more than one million pay 29.1% of their income in taxes, 50,000 to 75,000 pay 15%, 40,000 to $50,000 pay 12.5% and 20,000 to $30,000 pay 5.7% finally 47% of all American (mostly Obama supporters) pay not taxes at all. This process is called progressive taxation and is the second tenant of the communist manifesto. People in great numbers all understand this and express it in a presidential approval rating of below 40% while 77% of Americans do not believe that Obama’s offered solution will make things better, they think it will make things worse. All of us understand that if you rob Peter and give the proceeds to Paul it will only work until Peter is broke and then we all share in the same misery.
He then goes on to repeatedly say “we must all pay our fair share” never once advising what he thinks a fair share is. This is no different than his presidential campaign in which he repeatedly used the words Hope and Change but never once told us what to hope for or what the change was to be. Now that we know we are universally rejecting the entire load of BS.
Being a true socialist ideologue Obama is either incapable of understanding economic reality or is purposely planning the destruction of America so that he and his communist friends can rebuild it in the image of their mentor Karl Marx.
The economic reality being, to increase employment two things are required, profit and capital. Public sector jobs, teachers, firemen, police officers, lawyers and bureaucrats do not produce economic wealth. Profit is when a business sells a product at more than it cost them to make it, and capital is the product of profit and allows expansion in employment, R& D, and economic growth. Taxing savings accounts is counter productive and capital gains taxes are taxes on investments that have already been taxed at least twice and in reality is a tax on inflation, which is produced solely by government, it does not produce wealth or jobs but the exact contrary. .
Not only does our president not even have a rudimentary understanding of economics he does not understand management or business. His advisors if they ran any business would bankrupt it in less than a month. He listens to people like Paul Klugman the economist from hell at the Gray Lady who would bankrupt a 5 and dime store in a day if he ran it.
All this is far beyond a scandal it is destroying our nation and its time to put an end to it!