Didn't Mr. Obama promise to assemble "the most ethical Administration of
all time"? If that's the case, why must he resort to chicanery and
guile on a daily basis?
Mr. Obama was elected partly because of his often-repeated promise not to raise taxes
on anyone making less than $250,000 per year. Anyone who had investigated Mr. Obama's
background would have known immediately that his promise wouldn't last long after his
Wealth and Income Statistics. Tendentious statistics are constantly put forth by various neo-Marxists trying to
prove that American society is unjust and that confiscatory taxes should therefore be imposed on the wealthy. The
advocates of a wealth tax don't seem to be aware that we already have a 40% wealth tax imposed upon death — the
estate tax. The neo-Marxists often contrast the maximum 37% tax on earned income with the maximum 24% (technically
23.8%) tax on long-term capital gains. But capital gains taxes are often a tax on inflation.
Warren's cruelty. Warren's method is to tell voters that someone else will bear the costs. She
denies the obvious truth that our problems are inherently tough to solve and instead declares that they persist only because
other politicians are bought and paid for. The real problem with Warren's tale isn't that this is class warfare,
although it certainly is that. The real problem is, rather, that it is a lie. Warren has championed "Medicare for
all" as a way to cater to her party's left-wing base, but she's also trying to sell it to ordinary people. She offers
freedom from the injustice of insurance companies and the fear of being uninsured. She tells us we'll never have to
worry about another medical bill again.
Biden: Warren's A Liar.
Democratic presidential candidate Joe Biden on Friday [11/1/2019] accused Sen. Elizabeth Warren (D., Mass.) of making up the numbers
for her recent Medicare for All cost estimate. Biden went on the attack after PBS host Judy Woodruff repeated the Warren campaign's
estimate that government run health care would only cost about $20 trillion. "She's making it up," Biden said. "She's
making it up. Look, nobody thinks it's $20 trillion. It's between $30 and 40 trillion dollars. Every
major independent study that's gone out there — that's taken a look at this, there's no way — even Bernie, who
talks about the need to raise middle class taxes — he can't even meet the cost of it."
Middle-Class Taxes Won't Go Up 'One Penny' for $52 Trillion Health Care Plan. In a long-awaited plan released
Friday [11/1/2019], Sen. Elizabeth Warren (D., Mass.) pledged to not raise middle-class taxes to pay for her proposed
single-payer health care system. After months of dodging questions about whether she would hike middle-class taxes to
pay for Medicare for All, the 2020 candidate made a firm promise to voters about a $52 trillion system involving
$20.5 trillion in new federal spending over the next 10 years. "We don't need to raise taxes on the middle
class by one penny to finance Medicare for All," Warren wrote in a post detailing her proposal.
Debate: 10 Questions Left on the Cutting Room Floor. [#1] About the Trump tax cuts, Democrats like
Rep. David Cicilline, D-R.I., claim that 83% of the benefits would go to "the top 1%, richest people in this country,
and the most powerful corporations." But the Washington Post fact-checker said: "The nonpartisan Tax Policy Center
found that initially more than 80 percent of taxpayers would get a tax cut, with less than 5 percent getting a tax
increase." Why, then, do you keep restating what The Washington Post said isn't true?
Party presidential candidate are unqualified... and weird. [Scroll down] Elizabeth Warren, AKA
Pocahontas, says she will fund Medicare for all by taxing the "wealthy and big corporations." Even Joe Biden found this
ludicrous and unbelievable. She refused to answer the question whether she will raise taxes on the middle class to fund
Medicare for all. We all know that tax rates have to be raised on all taxpayers to fund Medicare for all. All the
candidates have proposals to "fix health care." Nobody asked the candidates why we need to "fix health care," since
Obama supposedly fixed it with his Obamacare. We were told by Obama, Biden, and Pelosi that Obamacare would reduce
premiums and insure the uninsured and that we could keep our doctors. Evidently, Obama, Biden, Pelosi, and the rest of
the gang lied to us. Shocking.
Warren's stubborn dishonesty on raising middle-class taxes. Sen. Elizabeth Warren deservedly drew heat
from several rivals over her stubborn refusal to acknowledge that implementing a $32 trillion plan to provide free health
insurance to everybody would require increasing middle-class taxes. But since she keeps trying to make the same bad
argument, it's worth reviewing what's so dishonest about it. Warren, whenever she's asked about whether middle-class
taxes would go up, argues that costs would only go up for corporations and the wealthy, but "costs would go down for the
middle class." Essentially, she's trying to make the case that because middle-class Americans would be getting free
healthcare, their costs would go down overall.
Don't 'Invest'; They Spend Other People's Money. Sen. Bernie Sanders of Vermont, a self-avowed socialist,
sometimes sounds like a multibillionaire entrepreneur when promoting his political agenda. He intends, you see, to
"invest" a great deal of money. Of course, unlike a billionaire entrepreneur, Sanders won't be investing his own
money. He will be "investing" yours. Nor does Sanders intend to be a mere retailer. He is promising to make
"massive investments" in a "Green New Deal" that will result in "a wholesale transformation of our society."
'A Lot of People in the Country Would Be Delighted to Pay More in Taxes'. Democrat presidential candidate
Sen. Bernie Sanders (I-VT) said on Wednesday night [6/12/2019] during a CNN interview that "a lot of people" would love
to pay more in taxes if it meant that they got government-run health care.
Tax Cuts Aren't Causing the Latest Deficit Spike. The Treasury Department reported a $208 billion deficit for
the month of May — which is $61 billion higher than May 2018. To put that in perspective, the deficit for the
entire year of 2007 was $161 billion. In the first eight months of the current fiscal year, red ink has already reached
$738 billion. Even adjusting for inflation, the total annual federal deficit has exceeded that only six times in the
nation's history (five of them under President Obama). Not surprisingly, the Republican tax cuts are taking the blame
for this year's extraordinary deficits.
$10,000 to Dems, $650 to GOP: Just How 'Non-Partisan' Is The Congressional Research Service? Late last month,
the Congressional Research Service released a report entitled "The Economic Effects of the 2017 Tax Revision:
Preliminary Observations." "On the whole, the growth effects tend to show a relatively small (if any) first-year effect
on the economy," the CRS found, adding that "Although examining the growth rates cannot indicate the effects of the tax cut
on GDP, it does tend to rule out very large effects in the near term." A number of media outlets, as could be expected,
went apoplectic, declaring that the Trump tax cuts have nothing to do with the booming economy, and thus also won't make up
any of the revenue lost. With the supply-side tax cuts of Calvin Coolidge, John F. Kennedy, Ronald Reagan and George W.
Bush all followed by economic booms, you would think the doubters' faith in the religion of coincidence would be shaken.
Post Gives Biden 4 Pinocchios for Claiming Only the Rich Got Trump Tax Cuts. One of the misperceptions of the
tax cut is that because tax refunds have been relatively flat when compared to last year that most people didn't get a tax
cut without taking into consideration the adjustment in the tax withholding tables which added roughly $25 per week to the
average paycheck. A point the media rarely mentions. The Post contacted the Biden campaign and received the
standard line about the tax cuts being a giveaway for the wealthy and big corporations and gave Biden the maximum four
Pinocchios for misstating the facts.
The Latest Liberal Economic Fantasy. The new economics is called Modern Monetary Theory or MMT for short.
MMT is gaining traction among high-profile Democrats and other liberals that are looking for ways to finance social and
ecological programs that they hope to implement in the future. [...] Critics say that MMT is neither monetary nor a
theory. It more closely resembles a political opportunity, since it puts everything in the hands of enlightened
politicians. Its promoters keep the theory sufficiently vague to avoid close scrutiny. They tend to stay outside
of the mainstream economic journals and inside social media.
Democrats misled the nation about Trump's tax cuts. As even The New York Times (yes, the anti-Trump Times)
noted, Tax Policy Center figures show 65 percent of taxpayers got tax cuts last year, thanks to the 2017 Trump tax reforms;
just 6 percent had to pay more. Yet in early April, SurveyMonkey found only 40 percent of Americans believed they
saw savings, and only 20 percent felt sure they had. An NBC/Wall Street Journal poll last month found even fewer, just
17 percent, thought their families would pay less. Why are so many people under the wrong impression about their own taxes?
Apocalyptic Lies Fed To Americans About The Republican Tax Bill. Monday [4/15/2019] is the first Tax Day under the new
Republican tax bill passed in December 2017, and the results are not what Democrats and their media apparatus predicted. Many
Americans are discovering that they are not only alive and well, but indeed paying less taxes. As Ben Casselman and Jim
Tankersley pointed out in The New York Times, there is a disparity between what Americans thought they would be paying the IRS
this year, and what they actually paid. This myth, "appears to flow from a sustained — and misleading —
effort by liberal opponents of the law to brand it as a broad middle-class tax increase."
Writer Praises Progressives for Misleading Americans on Tax Cuts. Vox writer Matthew Yglesias praised
progressive groups for misleading Americans about their taxes Monday [4/8/2019]. In a tweet, Yglesias praised the
"messaging success" over President Donald Trump's Tax Cuts and Jobs Act. The president signed the bill into law in
December 2017. At the time, then-Speaker of the House Paul Ryan (R., Wis.) said the bill would save families making
$73,000 per year more than $2,000. "[P]rogressive groups did a really good job of convincing people that Trump raised
their taxes," Yglesias said.
that rushed to report tax refunds were smaller this year go silent on IRS data showing refunds have increased.
Tax refunds are up from where they were this time last year by 1.3 percent following the fourth week of the 2019 filing
season, according to new Internal Revenue Service data. To be more specific, the average tax refund has increased to
$3,143 from $3,103 last February, according to cumulative statistics comparing the 2018 and 2019 filing seasons. Oddly
enough, certain newsrooms have responded to this development with total silence. I say "odd," because it was just a few
weeks ago that these same newsrooms rushed to report that tax refunds were smaller this year, suggesting either implicitly or
explicitly that the decrease was tied to the Republican Party's tax reform bill.
Are Misleading Americans About Their Tax Refund. Democrats looking to score points against President Donald
Trump this week focused attention on data from the government that showed refund checks going out to early filers were
smaller than they were a year ago. Sen. Kamala Harris (D-CA) falsely claimed that smaller refunds indicated that
the tax cuts amounted to a "middle-class tax hike." The smaller refund checks, however, were not indicators that taxes
have gone up. In fact, two-thirds of American households got a tax cut this year. For middle-class families with
children, over 80 percent got tax cuts.
blames federal tax law for $2.3 billion New York budget deficit. New York State is facing a $2.3 billion budget
deficit, and Gov. Andrew Cuomo believes it's largely due to the Trump administration's tax reforms which, on the "flip
side," have taxed the rich and may be encouraging wealthy residents to leave. President Trump's Tax Cuts and Jobs Act,
which takes effect for the 2018 tax year, places a cap on the state and local tax deduction (known as SALT) that Americans
can take. Residents of largely blue states with relatively high state and local taxes are adversely affected, Cuomo says,
by the new cap of a $10,000 deduction. New York state's average SALT deduction was around $22,000 before the law changed.
Cut 'Scam' Created 1.3 Million New Jobs, New CBO Data Show. During the tax cut debate in 2017, Republicans
argued that the cuts would at least partially pay for themselves by spurring economic growth. Democrats said they were
nothing more than a giveaway to the rich. The latest data from the Congressional Budget Office makes it clear that the
GOP had it right.
Importance of Getting History Right. [Scroll down] Another lie, born of ignorance, is that the American
revolution was merely a tax revolt. The idea is to minimize our history down to financial considerations: dialectical
materialism. But anyone familiar with the Currency Act and the Intolerable Acts knows full well that more was at
stake. Many of the colonials were descended from people whose ancestors had suffered under British law and how it had
reduced large sections of Ireland and some parts of Scotland to abject poverty. They were determined not to become New
World vassals. But if one wants to minimize the treasure that is our Constitution, then reduce American history to tax law.
Deficit Isn't 'Soaring,' And Yes, Tax Revenues Are At Record Highs. In the first two months of the new fiscal
year, tax revenues are up. But so is the deficit. Why? Because spending continues to outpace revenues.
So why do tax cuts keep getting blamed?
Skin In The
Game. The argument that tax cuts reduce federal revenues can be disposed of quite easily. According to
the Congressional Budget Office, revenues from federal income taxes were $76 billion higher in the first half of this
year than they were in the first half of 2017. The Treasury Department says it expects that federal revenues will
continue to exceed last year's for the rest of 2018. Despite record federal revenues, 2018 will see a massive deficit,
perhaps topping $1 trillion. Our massive deficit is a result not of tax cuts but of profligate congressional
spending that outruns rising tax revenues. Grossly false statements about tax cuts' reducing revenue should be put to
rest in the wake of federal revenue increases seen with tax cuts during the Kennedy, Reagan and Trump administrations.
tax cuts work. They are actually working extremely well here in the U.S., and the additional growth from a new
one will obviously give the government higher revenue in the long run. It is too bad that both parties spend too much
on government, but revenue is not the problem. Their overspending can be seen in the deficit, which has increased
because of the massive debt run-up under President Obama and previous presidents. Then there's the Federal Reserve:
instead of doing anything to check Obama's overspending, it held rates at zero and allowed Obama's pathetic economy to go
on. But as economist Herbert Stein has noted, anything that can't go on will stop. So now they are raising rates
to get inflation under control, this after years of allowing Obama to print money.
Tax Cuts Are Not Driving Deficits — It's The Spending. Are President Trump's massive tax cuts what's
driving federal deficits upward. Everyone says so. But, it's not true. It's just a way for lawmakers to
distract the public while they crank up the spending machine. Just like the Senate did this week.
Borders Are Not Libertarian So Long As America Is A Welfare State. On social media, libertarians tend to argue
that immigrants, even illegals, pay taxes too, through their rent to their property-tax-paying landlords. The average
annual per child expenditure of an American public school is $12,000, and as high as $29,000 in Washington, D.C. and other
jurisdictions. The idea that many immigrants, living crowded into low tax assessment properties, pay anything like
$12,000 annually in property taxes per child they commit to the local school is prima facie ridiculous.
Warren stands by call to overturn income tax cuts. Despite the recent boost in the economy, U.S. Sen. Elizabeth
Warren isn't budging on her position to increase taxes. "Let's be clear, the Republicans just gave away a trillion and a half
dollars in tax cuts to billionaires and giant corporations," Warren told the Herald yesterday [7/28/2018]. "Those tax decisions, they're
not about numbers, they're about values. They're about who you believe the government should work for."
Fed Up in Seattle.
Don't believe the hype that "Amazon killed the Seattle head tax," the new levy that the city recently passed on businesses to
fund an affordable-housing initiative. The truth behind the city council's stunning reversal — repealing the
tax by a 7-2 vote, just four weeks after passing it 9-0 — is that Seattle citizens have erupted in frustration
against the city's tax-and-spend political class that has failed to address the homelessness crisis, despite record new
revenues. As recently as a few years ago, it seemed as if Seattle voters largely viewed our hyper-progressive city
council as a harmless oddity in an otherwise tolerant, thriving, liberal city. But times have changed. Now,
according to recent public polling, 83 percent of Seattle voters are dissatisfied with how the council has addressed
homelessness, 65 percent believe that the local government hasn't used new tax revenues effectively, and 63 percent
believe that the city has enough money to solve the problem but isn't pursuing the right policies.
Pelosi: 'Democrats believe you must pay as you go'. Democrats will lower the federal debt if they retake control of the
government, House Minority Leader Nancy Pelosi said Thursday [5/10/2018], even as they seek to enact major infrastructure spending and
other new programs while undoing the GOP tax law. "Democrats believe you must pay as you go," the California Democrat said at an
event hosted by the fiscally conservative Peter G. Peterson Foundation. New government investments must be offset in the
budget, she said. Pelosi steered clear of saying how Democratic initiatives, such as a new federal education and housing funding,
would be paid for.
The Editor says...
If the "Democrats believe you must pay as you go," why is
the national debt over $21 trillion?
No, The U.S.
Isn't 'Undertaxed'. One of the talking points Democrats and the left often drag out to justify reversing the
Trump tax cuts is that the U.S. is "undertaxed" compared with other nations. A new study shows that's false.
Keeping My Earnings Is Not
a 'Subsidy'. One might argue about the efficacy of our state's and nation's tax code and how its myriad tax
deductions are arranged, but that doesn't mean that keeping our own money is the equivalent of a subsidy. I've heard
reasonable arguments for reducing tax deductions for home ownership in exchange for reducing other taxes. [...] Hammering
people with a massive tax bill upon a home's sale will only reduce mobility and limit the number of resale houses that become
available, but tax hikers don't often worry about the Law of Unintended Consequences. But this mischaracterization of
"subsidy" is widespread. If we're all subsidized, then no one is subsidized. It's all moral equivalence,
at that point.
a Crumby Thing for Cory Booker to Say. Never mind the eight years during which President Obama accumulated more debt than
all prior presidents combined. [Senator] Booker insists that keeping too much of our paychecks and not the government spending
too much is what drives up the national debt. If Booker has any plans for cutting spending outside the military, they are
the only thing in Washington that has not been leaked. Letting people keep more of what they earn is not "spending," and companies
giving more of what they earn to their employees is not spending, either. Booker is typical of those who believe that all money
belongs to a government that decides how much of it we will be allowed to keep in exchange for our votes.
the Truth on Tariffs! While totally free trade is an ideal and a goal, it is impossible to accomplish without
becoming wholly interdependent on other nations. There will always be another country capable of driving your domestic
industry into the dirt on some product or another, as no one nation can be the most efficient and best producer of everything
that nation requires. Because some industries cannot be outsourcedwithout risk to national security — even
to friendly nations — trade representatives have always balanced imports and exports of these products through the
use of taxation (tariffs) to both protect the viability of their domestic industries and to ensure a place for their own
exports in the economies of other nations. While a simplistic explanation, it covers the basic function of tariffs.
Throughout history, administrations and regimes have misused tariffs, sparking "trade wars." And it is true that these
disruptions have proven costly to both sides, but to say "no one wins in a trade war" is patently false.
York Times issues embarrassing correction after botching story attacking Trump's tax plan. The New York Times
issued an embarrassing correction after a report that attacked President Donald Trump's recently passed tax plan got the
numbers about as wrong as could be. The lengthy Feb. 23 feature, headlined, "Get to Know the New Tax Code While Filling
Out This Year's 1040," sought to detail how Trump's tax plan would hurt middle-class families. A hypothetical couple —
christened Sam and Felicity Taxpayer — would see their tax bill rise by nearly $4,000, according to the story. Then
came the correction saying the family would actually see taxes go down.
cuts and more money in your pocket is nothing but a 'dark cloud' for Democrats. Last week President Trump's tax
cuts started to get personal as people across the country logged into their bank accounts and began to find increases in
their paychecks. The doom and gloom tax cut scenario the Democrats tried to sell the American people started to become
exposed as nothing more than highly charged rhetoric. This from a party desperate to justify why not a single one of
them voted in favor of letting people keep more of their money. As people's wallets began expanding this week it just
got real. More money back in the hands of people of every income level — brought to you by President Trump
and the Republicans in Congress.
A thousand dollars is mere chicken feed to a limousine liberal.
Schultz joins Pelosi in mocking size of $1K cash bonuses linked to tax cuts. Florida congresswoman and former
DNC chief Debbie Wasserman Schultz joined House Minority Leader Nancy Pelosi on Thursday to ridicule the economic
repercussions of recent tax reform legislation. An audience at Florida Atlantic University witnessed Ms. Pelosi
double down this morning on her recent "crumb" criticism of cash bonuses given out by companies like Apple, AT&T, Boeing,
Comcast, Disney, Home Depot, Fiat Chrysler, Southwest Airlines, Verizon, Wal-Mart and Well Fargo. The event, which was
sponsored by the group Not One Penny, included Ms. Wasserman Schultz's assertion that $1,000 doesn't go "very far for
Is Destroying the Welfare State. Recall how the Democrats supported President Obama's Trans-Pacific Partnership, a "free trade"
deal that would have gutted American industries. And it is Democrats who oppose President Trump's attempts to stop illegal immigration,
which hurts America's poor. The Democrats don't care about American workers. They care about winning elections. At this point,
the chorus of "progressive" rhetoric reaches a fever pitch. "But we need immigrants to support the welfare state! We need
immigrants to pay for Social Security!" Saying it does not make it so. In truth, immigration is destroying the welfare state, in
America and throughout the West. This is happening because immigrants receive more in benefits than they pay in taxes. Of course,
this is not true for every immigrant — some never collect government handouts — but it is true for the overall immigrant
population. Studies from across the Western world prove this point.
Released Arizona Crime Data Just Shattered a Key Liberal Narrative on Immigration. If you're going to do a study attempting to
prove the general law-abidingness of illegal immigrants, wouldn't you want data that compiles actual illegal immigrant crime rates?
Considering the fact that legal immigrant crime is indeed low, any study using data that lumps legal and illegal immigrants together is
bound to be skewed.
Shows Public Waking Up to Media Lies About GOP Tax Plan. Now that a little thing called economic reality has
overtaken months of dishonest media reporting about the Republican tax bill signed into law by President Trump last month, a
plurality of 47 percent support the bill, while only 34 percent remain opposed. This is a huge (and predicable)
turnaround when compared to those polls released in the heart of the media campaign to kill the tax bill.
Through the Media's Falsehoods About 'Dreamers'. When members of Congress battled over the budget, some
threatened to block funding unless Congress provided amnesty to illegal alien Dreamers who benefited from President Barack
Obama's Deferred Action for Childhood Arrivals program, which President Donald Trump announced he is ending.
Conscientious members of Congress should not give in to this threat. Amnesty will encourage even more illegal
immigration — just as the 1986 Immigration Reform and Control Act did. That bill provided citizenship to
2.7 million illegal aliens. Yet by 1995, another 5.7 million illegal aliens were residing in the U.S.
Many of them crossed the border to join their newly legalized friends and family. Others, no doubt, believed that
since the U.S. provided amnesty once, it would do so again. However Congress decides to deal with Dreamers, it should
be based on the real demographics of the DACA populace, not the glamorized image typically presented by the media.
Looking for Tax Disaster, Democrats Are in for a Surprise. The Democrats and their media allies did everything
they could to defeat Trump's tax cuts and reforms. They continually lied to the public in a bid to make them believe
that less than half of the taxpayers would actually get cuts and that the bill was meant to benefit only big, rich
corporations. Therefore, we got all sorts of articles, obviously fed to journalists by left-wing think-tanks and
Democratic politicos, claiming that the tax cuts aren't good or aren't performing as promised. So, two weeks into a
ten-year program, we are now hearing whining that all the promises of the broad-based reform haven't been fulfilled yet.
7 reasons pope
is wrong about immigration. I don't know about you, but I'm getting tired of being lectured by Pope Francis
about migrants and refugees. In his latest message on the subject, he suggested national laws strictly controlling the
influx of migrants and refugees is akin to "hostility" and "sin." [...] Has the pope welcomed refugees and migrants into
Vatican City, which he controls? If so, how many? And, if he has, why is he limiting the number? Vatican
City is considered a sovereign nation-state. It is a wealthy one that considers its own security seriously. Why
would the pope lecture other nation-states about immigration policy without first setting an example with his own?
Francisco plutocrat Nancy Pelosi sniffs disdain at Americans' tax bonuses, calling them 'crumbs'. The only
thing worse than Senator Elizabeth Warren having to pretend she likes the tax cuts she vehemently opposed in Congress is
wealthy House minority leader Nancy Pelosi looking down her nose in disdain at the millions of Americans celebrating their
tax bonuses. She actually called the spectacle "pathetic" and the bonuses "crumbs."
Pelosi's elitist Democrats — America, this is the party of the rich, sneering at the poor. Here in
my home state of California, in response to President Trump signing the GOP tax reform bill into law, state Senate Democratic
leader Kevin de Leon has taken up a new cause: fighting for the right of the richest Californians to evade their taxes.
It's almost unbelievable — but true. De Leon (who is also the leading challenger to Sen. Dianne
Feinstein in her primary battle as she seeks re-election this year) has proposed setting up a new so-called charity that
would enable the Silicon Valley and Hollywood elite to claw back their losses from the Trump administration's new tax reform
law. [...] Another prominent California Democrat also revealed her true colors this past week over taxes: our old friend,
House Minority Leader Nancy Pelosi. She dismissed $1,000 worker bonuses given in response to the GOP tax cuts as "crumbs."
Takes on Pelosi for Saying Companies Just Giving Out 'Crumbs' After Tax Cuts. Laura Ingraham took on House
Minority Leader Nancy Pelosi for saying companies' bonuses to workers following the passage of the Republican tax cuts are
mere "crumbs." "Maybe it's a crumb if you live in Pacific Heights or the Sea Cliff neighborhood of San Francisco and
you're married to Paul Pelosi, maybe then it's a crumb. But for most people it's real money," she said.
Management CEO reacts to Nancy Pelosi 'crumbs' comments on bonuses. Waste Management CEO James Fish responded
to Rep. Nancy Pelosi's (D-Calif.) criticism of bonuses given to employees following the passing of the Republican-backed
tax reform bill. In an exclusive interview with FOX Business' Liz Claman, Fish said the bonuses will be go to drivers,
landfill workers and customer service agents. "We are giving it to those folks not just because not only are they hard
working, but they don't participate in our annual bonus which typically are for salary employees," Fish said during an
interview on "Countdown to the Closing Bell" Friday [1/12/2018]. The House Minority Leader on Thursday called the
recent wave of corporate bonus given to workers as a result of the Republican tax bill as "crumbs."
Treasury secretary: Tax cuts 'leaving us broke'. Former Treasury Secretary Jack Lew expressed concerns
about the new GOP tax law's impact on the debt, arguing that it is "leaving us broke" and could lead to cuts in social safety
net programs. "I fear that the next shoe to drop is going to be an attack on the most vulnerable in our society," Lew
said in a Bloomberg interview. "How are we going to pay for the deficit caused by the tax cut? You're going to
see proposals to cut health insurance from poor people, to take basic food support away from poor people, to attack Medicare
and Social Security."
The Editor says...
Memo to the former Treasury Secretary: Deficits are not caused by tax cuts. Deficits are caused by spending borrowed
money, mostly on stuff we don't really need. Call me if you need further advice.
Dem: GOP Government 'Dangerous to All Living Creatures,' Especially Federal Workers. Rep. Gerry
Connolly (D-Va.) urged Congress before the holiday break to protect federal workers in the event of a government shutdown,
adding that a "united" federal government under Republican leadership is "dangerous to all living creatures." "They've
already been asked to sacrifice in a way no other group in America has been asked to sacrifice, contributing well over
$200 billion to deficit reduction," he said on a conference call Dec. 20 with American Federation of Government
Employees (AFGE) National President David Cox Sr.
Attacking Trump Tax Cuts as 'Theft,' Democrats Prove They Don't Believe in Private Property. When Republicans
in the U.S. House and Senate passed historic tax reform that will decrease taxes for more than 80 percent of Americans,
Democrats branded the tax cut a "heist." Terms such as "looting," "theft," and "heist" suggested that Republicans weren't
giving Americans back more of their hard-earned money, but rather stealing from the poor to give to the rich. This
rhetoric is revealing — it shows that Democrats no longer believe in private property, a cornerstone of American
values and the basis on which President Abraham Lincoln argued against slavery. "Shamefully, Republicans were cheering
against the children as they rob from their future and ransack the middle class to reward the rich," House Minority Leader
Nancy Pelosi (D-Calif.) tweeted, adding the hashtag #GOPTaxScam. She was far from alone in adopting such rhetoric.
Nancy Pelosi! CBS News finds families who WON'T be killed by the tax bill. You know it's bad for the Dems
when even the mainstream media can't give an assist. Here's a CBS News story that did NOT cooperate with the Democrat
narrative of "Armageddon" and mass misery.
Danger in 2018 for
the Party of the Rich (Democrats). [Scroll down] According to the the Center for Responsive Politics, she
[Nancy Pelosi] has a net worth of $196 million. And that was in May 2017. Since then there's been another 10+%
run-up in the stock market, so that would conservatively push her well over the $200 million mark thanks, ironically, to the
policies of Donald Trump. (Okay, not entirely, but unquestionably to some extent.) Over the last decade or so, American
politics has had something of a role reversal. The Democrats have increasingly become the Party of the Rich —
Silicon Valley, Hollywood, media, a good swath of Wall Street — making Pelosi's statement and similar remarks made
by Schumer particularly absurd. Moreover, it is well known — but not well known enough yet — that
what Pelosi said was a straight-out lie.
Democrats Stink of Weakness and Defeat. Armageddon, she called it. That was Nancy Pelosi, the insane woman who
is somehow in charge of the Democrats' House caucus, speaking about the just-passed Tax Cuts and Jobs Act. The bill would later
pass in the House, largely on the same party lines it's passed throughout the legislative process, due to procedural necessities,
Wednesday [12/20/2017]. [...] We wouldn't take Pelosi seriously, because it's impossible to truly do so. After all,
she's completely crazy and it's obvious to anyone who bothers to observe both the gibberish emanating from her lips and the
unstable body language surrounding it. Except that the unhinged sentiments she offered as a reaction to the passage of
a bill which will provide a tax cut to 80 percent of the American public aren't just hers. They belong to the entire
tax bill causes Nancy Pelosi to lose remaining fragment of her mind. The GOP tax bill is now very close to
passage, and as that became clear last night, Nancy Pelosi put on her spelunking gear for another deep descent into insanity
and self-unawareness: [...] A warning about plutocracy from a super-wealthy member of Congress who's been in power for
decades? Pelosi might be trying to convince people the tax bill will cost them their lives, but it clearly has yet to
even take away her unintentional sense of humor.
entitlements — not the tax bill — for blowing up the deficit. Writing in The
Washington Post, Fareed Zakaria recently called the GOP tax bill the worst piece of legislation in modern history.
Why? Because, he claims, it will starve the federal government of the resources it needs for public investments in
infrastructure and research. But Zakaria's assessment is misleading. He is right that a budget crunch is now
underway and will intensify in the years ahead, but the primary cause is not tax cuts. Left out of Zakaria's account is
the role that runaway entitlement spending is playing — and will continue to play — in squeezing other
government programs. If his main concern is inadequate public investment in annually appropriated domestic accounts
(sometimes called "domestic discretionary spending"), he should focus his ire on President Obama and the many other
Democratic and Republican politicians who have favored consumption-oriented entitlements at the expense of all other public
priorities. Left unchecked, entitlement spending will overwhelm the federal government in coming years —
with or without the GOP's relatively small tax cut.
Pelosi Claims Tax Bill 'Does Violence' To Vision Of Founding Fathers. House Minority Leader Nancy Pelosi spewed
utter nonsense on the House floor on Tuesday, hysterically claiming that the Republican's tax plan "does violence to the
vision of our Founders." Pelosi railed against Republican lawmakers in her speech, decrying the bill as a morally obscene
"scam" designed to "install a permanent plutocracy." "This GOP tax scam is simply theft, monumental, brazen theft from
the American middle class and from every person who aspires to reach it," Pelosi said. "
Dems have set themselves up for tax cut blowback. The unquestioning media support that Democrats receive for
their narratives — regardless of their truth or falsity — has led congressional Democrats out on a limb
that President Trump is about to saw off, when he signs the tax reform bill. Unlike foreign policy or regulatory
reform, people pay much more attention to their personal experience than to political rhetoric. In fact, voters care so
much about the economy that they will see that the Democrats have been blowing smoke at them. James Freeman of the Wall
Street Journal calls it "The February Surprise" — the increased paychecks that the vast majority of American
workers will experience in February, when the tax reform bill is implemented by IRS issuance of withholding guidelines in
January. The contrast between the positive personal results and the extreme rhetoric of Democrats opposing it will come
home to voters in a very personal way. Yesterday [12/19/2017], on the House floor, Nancy Pelosi, in the words of
Lifezette, went off the deep end, complete with goofy signs.
ways the media tries to convince us tax cuts are bad. To hear the media tell it, tax cuts are Bad For You and
you won't like the result. Pay no attention to the fact that the cost of living is up, the government is bigger,
incomes have stagnated, large corporations are no longer creating jobs, and the U.S. hasn't had a major tax cut since 1986.
Somehow, we are all supposed to believe tax cuts which put more of our own money in our pockets, will make us
miserable. It's the most fallacious collection of up-is-down arguments ever assembled.
GOP Congress 'Robbing from Future by Increasing Debt;' She Upped Debt $5T in 4 Years. House Minority Leader
Nancy Pelosi, during whose four-year speakership the debt increased by more than $5 trillion, said at her press briefing
today that the Republican-controlled Congress is "robbing from the future by increasing the debt." Pelosi made the remark
as part of her criticism of the Republican tax-reform plan. "This is who they are," Pelosi said. "This is what they
came here to do: tax cuts for the rich at the expense of the middle class, at the expense of the health and well-being of
the American people. Robbing from the future by increasing the debt."
Democratic rhetoric about taxing the rich? It's a con. Democrats have asserted for years that the rich
aren't paying enough in taxes. In her Democratic National Convention speech in 2016, Hillary Clinton put it in the
party's characteristically way, saying "Wall Street, corporations, and the super-rich are going to start paying their fair
share of taxes." Never mind that, according to the most recent data, the "1 percent" pay more than 25 percent
of all federal tax revenue, more than the bottom 60 percent of income earners combined. Democrats are usually loathe
to give a specific number, but whatever the rich are paying, it isn't enough.
GOP tax plan is not the apocalypse liberals think it is. Liberals have some reservations about this tax bill
that just passed Congress. And when I say reservations, I mean reservations for a heavy-duty rubber room at the nearest
lunatic asylum. For tinkering around with some details of the tax code and decreasing the bill many Americans pay to
Washington each year, "The GOP is monstrous; their policies kill, starve & maim," wrote actor-comedian Rob Delaney.
Josh Gad, that cuddly snowman from "Frozen" turned tax wonk, tweeted, "If you are not a billionaire, today should very well
be marked as one of the most disgraceful acts in modern political history. Madness won." Madness certainly won
over Delaney, who is now urging people to join the "Democratic socialists."
GOP tax proposal 'the worst bill in the history' of Congress. House Minority Leader Nancy Pelosi (D-Calif.)
declared unequivocally on Monday that the GOP tax overhaul is the worst legislation ever considered by Congress. "I
have said that this was stiff competition by some of the other things they have put forth, is the worst bill in the history
of the United States Congress," Pelosi said during House floor debate on the tax proposal. Pelosi cited the rushed
process and impact on the deficit to justify her assertion. [Video clip]
Democrats Corrupt English To Create Hysteria. [Scroll down] Liberal columnists, for example, will
earnestly argue that Republicans, who at this moment control the Senate, the House of Representatives, and White House thanks
to our free and fair elections, are acting undemocratically when passing bills. As you know, democracy means
raising taxes on the rich. Just ask all the folks who told us democracy died over the weekend. But the most
obvious and ubiquitous of the Left's contorted contentions about the tax bill deliberately muddles the concept of giving and
the concept of not taking enough. This distortion is so embedded in contemporary rhetoric that I'm not sure most of the
foot soldiers even think it's odd to say anymore. "You really shouldn't lower everyone's taxes because it creates
deficits and makes harder to expand important programs like Medicaid" doesn't have quite the same kick as "You're killing the
poor!" Whatever you make of the separate tax bills the House and Senate have passed, though, the authors do not take one
penny from anyone. In fact, no spending is being cut (unfortunately). Not one welfare program is being
block-granted. Not one person is losing a subsidy. It's just a wide-ranging tax cut without any concurrent
and Tired of Schumer and Others Continually Lying about Tax Cuts and Debt. What makes me sicker is that almost
all reporters just repeat Schumer's talking points as if they are factual. They repeat the outright lies over and over
again, and then after indoctrinating the readers with pure garbage, they take a poll of fewer than 1,000 people, skewed
with more Democrats than Republicans, to show that the people aren't in favor of reform. Then they run the poll results
as if they are somehow factual news. Reporters should be truly ashamed of themselves for pushing an agenda instead of
ever even considering reporting actual results of previous tax cuts.
Senate Bill Kills
Obamacare's Taxes on the Poor. It was as inevitable as, well, death and taxes that the Democrats would react to
the Senate tax reform bill with public lamentation, rending of garments, and portentous declarations about the death of the
Republic. It was no surprise, then, that Senator Elizabeth Warren (D-MA) charged the Republicans with "tearing down our
democracy" or that Senator Richard Blumenthal (D-CT) also accused them of "undermining democracy." In reality, the Tax
Cuts and Jobs Act is among the best pieces of legislation produced by either house of Congress in decades, not least because
it eliminates the individual mandate and medical expense taxes
Latest Tax Cut Lie: The Senate Bill Will Hurt The Poor. "Senate GOP tax bill hurts the poor more than
originally thought, CBO finds." That's the headline in the Washington Post describing a Congressional Budget Office report
released on Sunday [11/26/2017]. The story claims that the "Republican tax plan gives substantial tax cuts and benefits to
Americans earning more than $100,000 a year, while the nation's poorest would be worse off." Later, the Post story talks
about the bill's "harsh impact on the poor." This conveniently fits with the Democrats' evergreen talking point on tax
cuts — that they benefit the rich at the expense of the poor. But is it true? [No.] First of all,
the CBO doesn't describe the Senate bill as being "harsh" to the poor. That's the spin put on by the reporter.
Tired Canard of 'Tax Cuts for the Rich'. Behold a tax plan, or more precisely, two tax bills, one of the House
signature, the other of the Senate. I'm told that there are all kinds of juicy (or disastrous, depending on whom you
ask) bits in it, but what stands out to the casual observer is the top line. The House version defines four income tax
brackets, topping out at a rate of 39.6%, while the Senate proposes seven, with a top rate of 38.5. Apparently, this is the
best we can expect from a federal government supposedly dominated by small-government Republicans. Yet the Democrats weep,
gnash their teeth, rend their garments and exhibit other well-rehearsed expressions of impending Armageddon. [...] Democrats
shed nary a crocodile tear for the Deficit when it was their guy blowing it up for eight years.
Don't Let Facts Get In The Way Of Criticizing Tax Reform. When trying to condemn the House GOP tax relief plan,
Democrats "spread far and wide the false claim that families making less than $86,100 on average will face a hefty tax hike;"
a claim The Washington Post gave four Pinocchios. [...] According to The Washington Post, Democrats have
"falsely claimed" that the House tax relief bill would raise taxes on a significant portion of middle-class families. [...]
Governor Andrew Cuomo (D-NY) claimed that he had spoken to "all the [New York] Republicans" and they told him Republican
leadership was "forcing" them to vote for the House bill. [...] A number of Senate Democrats, including Senate Minority
Leader Chuck Schumer (D-NY), Senator Dick Durbin (D-IL), and Senator Sherrod Brown (D-OH), claimed that the Senate tax relief
bill was "kicking 13 million people off health insurance."
Check: Everything About This Sally Kohn Tweet About Tax Reform is Incorrect. Liberal activist Sally
Kohn — who is delightful in person, but wrong about almost everything — tweeted an attack on the GOP
tax plan yesterday, urging her followers to [denounce] Republican defenses of their proposal. Basically everything
in her tweet was wrong.
Fundraising Letter Tied Tax Cuts To Neo-Nazis. Democrats certainly don't appear to have an issue with using
fear to fundraise. A Senate Majority PAC mailer with an enclosed letter from Senate Minority Leader Chuck Schumer tied
together the Kremlin and neo-Nazis with corporate tax cuts. "This Must Stop," the mailer says above the words,
"Corporate Tax Cuts. Discrimination. Kremlin. Medicaid Cuts. Bribes. Repealing Health
Democrats falsely claim GOP tax plan will raise taxes for most working-class families. [Scroll down] But notice
the funny thing about this calculation: Only a small percentage (6.5 percent) of the nearly 122 million households in the
bottom three quintiles will actually face a tax increase. Meanwhile, more than 97 million (80 percent) will receive a tax
cut. Doing the math the same way the JEC staff did, we come up with an average tax cut of about $450 for those 97 million
households. Indeed, at the far end of the chart, you will see that every quintile on average receives a tax cut — not
a tax increase.
Tears Apart Dem Talking Point That Tax Cuts Only Benefit Wealthy. The Washington Post soundly debunked the
claim, made by numerous Democratic lawmakers, that the GOP tax reform bill will result in a tax increase for middle class
households in a fact check published Thursday. A number of prominent Democratic lawmakers have publicly claimed the tax
reform bill, scheduled to be released Thursday, will result in an average tax increase of $794 for households making up to
$86,100 annually. WaPo fact checkers traced the claim back to a report produced by Democrats on the Joint Economic
Committee, that predicts that some 8 million households making less than 86,100 per year will see their taxes
increased. "If enacted, the Republican tax reform proposal would saddle 8 million households that earn up to
$86,100 with an average tax increase of $794 — a substantial expense for working families," the report reads.
Press Says: Don't Cut Taxes! The Associated Press is one of many "news" outlets that has gone into overt
opposition, now that we have a Republican rather than a Democrat in the White House. Today's AP "Top News" feature is
headlined: Doubts arise on whether corporate tax cut would boost growth. The passive voice is generally a
giveaway. Where, exactly, are doubts "arising"?
Big 3 Tax Cut Lies That Democrats Keep Telling. With President Trump turning his attention to tax reform, Democrats are
busy dusting off their shopworn claims about federal income taxes. Almost nothing they say about taxes is true.
Obamacare bailout in NH. It's not a tax. It's not a fee. It's an "assessment." The New Hampshire
Department of Insurance wants to charge health insurance companies a $36.8 million assessment to fund a reinsurance pool in
order to prop up the state's failing health care exchange. "To call it a tax is misstating what it really is," argues
Insurance Commissioner Roger Sevigny.
Tax Lies for the
Gullible. One of the key arguments of those who oppose what they call "tax cuts for the rich" is that the Reagan administration
tax cuts led to huge federal government decits, contrary to "supply side economics" which said that lower tax rates would lead to higher tax
revenues. This reduces the whole issue to a question about facts — and the hard facts are available in many places, including a local
public library or on the internet. The hardest of these hard facts is that the revenues collected from federal income taxes during every year
of the Reagan administration were higher than the revenues collected from federal income taxes during any year of any previous administration.
Money for Border Wall Could Be Used to 'Give Just About Every American Broadband'. "The money is better used
elsewhere," Schumer said. "If the wall is $50 billion dollars, you could use that money to give just about every
The Editor says...
Maybe the Senator's assertion (about what can be purchased with $50 billion dollars) is true, but generally [#1] just because you have money on hand,
that doesn't mean it has to be spent, and [#2] one prioritizes budget items and spends money on the things one needs the most. The border wall is a
matter of national defense which is needed a lot more than "broadband" service for every American. (Or a lot of other things — like close-up
pictures of other planets.) Illegal aliens can be deterred with low-tech physical obstacles that are only a little more daunting than the Rio Grande.
Razor wire, for example. And [#3] broadband service is really overrated: Most Americans watch too much television already.
The Obamacare Financing
Flimflam. Now we know why the Obama administration unilaterally changed rules on Fannie Mae funds in 2012. They basically screwed
private-sector bondholders and shareholders to create a slush fund for left-wing groups allied with the administration. These funds do not
go through Congress. They are treated as off-balance sheet entities, where the amount that comes to the government is treated as a net reduction
in expenses instead of an increase in revenue. In other words, it allows Congress and the president to pretend they are controlling spending.
biggest whoppers. [For example,] "We signed into law the biggest middle-class tax cut in history." This 2011
claim was not based on a dollar figure but on dubious math — that supposedly 95 percent of working families received some kind
of tax cut under the Making Work Pay provision in Obama's stimulus bill. John F. Kennedy actually wins the prize for
biggest tax cut, at least in the last half-century. By the same measure, the income tax provisions of George W. Bush
tax cuts were more than twice as large as Obama's tax cut over the same three-year time span.
and After Obama: 10 Signs of a Diminished America. The national debt was $10.6 trillion when Obama took office, while complaining
that George W. Bush's deficits were not only too high, they were downright unpatriotic. [...] Obama would go on to add more debt than
Bush in just three years of his spendthrift presidency. He leaves office with a national debt of $19.7 trillion, coming just
shy of doubling the debt all by himself, and all we got for it was a mediocre economy, dwindling workforce, and sky-high welfare dependency.
Pelosi blames Bush for $9 trillion
in debt added under Obama. House Minority Leader Nancy Pelosi blamed former President George W. Bush and the
Republicans on Friday [1/13/2017] for the more than $9 trillion that has been added to the national debt under President Obama's
watch. Pelosi argued that under Obama, the annual budget deficit, which contributes to the national debt, has been reduced
dramatically, and said that without Obama's work, the national debt would be even higher. She also mostly blamed Bush for
not paying for the wars in Afghanistan and Iraq.
Reaction to the article above:
Nancy Pelosi and the
Big Lie. Every word Nancy Pelosi utters is a lie, all conjunctions and articles included. President Bush
submitted a budget for fiscal year 2009, which included a projected deficit of a way-too-high $407.4 billion. However, the
Congress, then under control of the Democrats, with Mrs Pelosi serving as the Speaker of the House, declined to pass President Bush's
budget. Rather, after the end of FY 2008 on September 30, 2008, Congress funded the federal government through the
mechanisms of continuing resolutions, rather than normal budgeting and appropriations.
Pats Himself On The Back: 'Every Country On Earth Sees America As Stronger' Than Before I Took Office. Obama
opened the press conference by touting his economic and policy achievements before heaping praise on his own shoulders.
"Almost every country on Earth sees America as stronger and more respected today than they did eight years ago." "In other
words, by so many measures, our country is stronger and more prosperous than when we started," he continued.
The Editor says...
These statements are coming from a man who operated the government without a budget for eight years and more than doubled the national debt.
Obama Opening Up the Federal Spending Floodgates to Get Hillary Elected? During the last year of his reign of
error, our beloved Nobel Peace Prize winner, Obama ran out of government accounting gimmicks to falsely proclaim Federal
deficits have been falling. His legacy of debt accumulation will go down in history as the last dying gasps of a
crumbling empire built upon Keynesian delusions, political corruption, and a Deep State establishment hellbent upon retaining
power at the cost of global war and financial collapse. The entirely fabricated government propaganda data point known
as the Federal deficit skyrocketed by 34% in fiscal 2016 (Federal year is Oct. 1 to Sept. 30). The reported deficit in FY15
was a mere $438 billion. Obama and his brain dead minions had boasted about such a small deficit. The country has
been in existence for 227 years and Obama had the balls to boast about "achieving" the 8th highest deficit in our
history. Just for some context, the savior also led the country to the 1st, 2nd, 3rd, 4th, 5th, and 6th highest deficits
in the country's history. Bumbling Bush achieved the 7th highest in the glorious year of 2008.
6 Months Since Budget Deal: Debt Up More Than $1 Trillion. In the six months that have passed since
then-retiring House Speaker John Boehner and Senate Majority Leader Mitch McConnell cut a budget deal with President Barack
Obama that suspended the legal limit on the federal debt until March 15, 2017, the federal debt has increased by more than
$1 trillion. The Senate passed "The Bipartisan Budget Act of 2015" with a vote held in the early morning hours of
Friday, Oct. 30. Obama signed it on Monday, Nov. 2.
Myths. The value-added tax is a very dangerous levy for the simple reason that giving a big new source of
revenue to Washington almost certainly would result in a larger burden of government spending. That's certainly what
happened in Europe, and there's even more reason to think it would happen in America because we have a looming,
baked-in-the-cake entitlement crisis and many politicians don't want to reform programs such as Medicare, Medicaid, and
Obamacare. They would much rather find additional tax revenues to enable this expansion of the welfare state. And
their target is the middle class, which is why they very much want a VAT. The most frustrating part of this debate is that
there are some normally rational people who are sympathetic to the VAT because they focus on theoretical issues and somehow
convince themselves that this new levy would be good for the private sector.
Debt Will Soon Eclipse GDP, Says Comptroller General. U.S. Comptroller General Gene Dodaro, the man responsible
for assessing the federal government's fiscal condition, told a Senate panel Wednesday [4/6/2016] that the government will
soon owe more than the entire economy produces. During a Senate Budget Committee hearing on the Government
Accountability Office's (GAO) audit of the federal government's fiscal year 2015 financial statements, Dodaro said that
despite a modest reduction in the annual budget deficit, the national debt remains a serious and growing problem.
Will Owe More Money Than Entire Economy Produces. An auditor for the Government Accountability Office told
lawmakers Wednesday [4/6/2016] that in the next few years the federal government will owe more than our entire economy
produces. Gene Dodaro, the comptroller general for the Government Accountability Office, testified at the Senate Budget
Committee to provide the results of its audit on the government's financial books. "We're very heavily leveraged in debt,"
Dodaro said. "The historical average post-World War II of how much debt we held as a percent of gross domestic product was
43 percent on average; right now we're at 74 percent." Dodaro says that under current law, debt held by the
public will hit a historic high.
Dem: National debt is not 'a threat to our country'. Senate Democrats on Wednesday couldn't agree that federal
debt is a national security problem, in a hearing aimed at assessing the long-term strategic implications of the government's
$19 trillion debt. "A realistic discussion about it, and accepting expert opinion that this debt that we have is not
actually right now a threat to our country, is I think a more realistic and honorable way of talking to the American people
about it," Sen. Ed Markey, D-Mass., said during a Senate Foreign Relations Committee hearing on Wednesday [4/6/2016].
Top 10 Lies in Obama's
State of the Union. [#1] "[W]e've done all this while cutting our deficits by almost three-quarters." This is pure
fiction. Obama has doubled the national debt, and it's not because he cut the deficit. Rather, he spent staggering amounts of money
in his first months in office — which he assigns, dishonestly, to the previous fiscal year, under George W. Bush. He
"cut" (i.e. spent more gradually) from that spending, but only under protest, after Republicans took the House in 2010. It is true that
Obama's 2015 budget deficit was about 25% of his 2010 deficit. But he referred to "deficits," plural. Until last year, all of
Obama's deficits were worse than all of Bush's deficits except for the last two.
'We Will Close Gitmo Because It is Bad for Our National Security and Because It's Too Costly'. Congress has
expressly forbidden President Obama from transferring prisoners from Guantanamo Bay, Cuba to the United States, but White
House Chief of Staff Denis McDonough shrugged it off on Sunday [1/10/2016]. "What the president just said is, he's going
to work with Congress, present them a plan to close (the prison), and then he'll make some final determinations," McDonough
told Fox News Sunday [1/10/2016].
The Editor says...
Guantanamo costs about half
as much as Obama's annual Hawaii vacation.
Déjà vu all over again. Janet Yellen increased interest rates for the first time in nine years
this week. She isn't raising them because the economy is strengthening. The economy just happens to be weakening rapidly,
as global recession takes hold. The stock market is 3% lower than it was in December 2014, and has basically done nothing since
the end of QE3. Wall Street is throwing a hissy fit to try and stop Janet from boosting rates by an inconsequential .25%.
Janet would prefer not to raise rates, but the credibility and reputation of her bubble blowing machine is at stake. The Fed
has enriched their Wall Street benefactors over the last six years, while destroying the real economy and the middle class.
Clinton panders to middle-class voters with unrealistic tax promises. If there is a social or economic need,
Democratic presidential front-runner Hillary Clinton has a tax credit to match. She's proposed one for businesses that
institute profit-sharing plans (cost: $20 billion over 10 years); another for hiring disabled veterans; and,
as of last week, a tax credit worth up to $1,200 to help families defray the cost of caring for their elderly members at
home (a $10 billion, 10-year item). Coming soon: changes to Social Security to benefit workers who take time off
to care for the elderly. When it comes to paying for these "targeted" benefits, plus her other promises such as universal preschool,
however, the former secretary of state has a clear principle: none of the 97 percent of U.S. households that earn
$250,000 or less per year will be asked to contribute higher taxes.
The writer at the Washington Post seems to think that taxes are contributions, which the government asks for,
as opposed to demanding they be paid under threat of imprisonment.
Debt Ceiling A Signal For Spending Spree To Begin. $18,532,338,091,711.00: That was the national debt late
Thursday [11/5/2015]. The feds couldn't wait to start bingeing once Congress lifted the debt ceiling and canceled spending
caps. A week earlier, the debt stood at roughly $18.1 trillion. What happened? Economist David Malpass of
Encima Global was the first to alert us to the sudden surge in borrowing. On Tuesday [11/3/2015], the national debt
skyrocketed by $339.1 billion. In one day! It's the most borrowing in one day for all of American history,
according to USA Today.
Debt Is Three Times More Than You Think" Warns Former Chief U.S. Accountant. In a shocking admission for most
of mainstream America, the former U.S. comptroller general says the real U.S. debt is closer to about $65 trillion than the
oft-cited figure of $18 trillion, thanks to unfunded liabilities which simply cannot be ignored. As The Hill
reports, unless economic growth accelerates, he warns, "you're not going to be able to provide the kind of social safety net
that we need in this country," adding unequivocially that Americans have "lost touch with reality" when it comes to spending.
Most Devious Liars in the Room. A critical thinking person might wonder why the National Debt went up by 26%
more than the deficit officially reported by our trustworthy leaders. This is where the hocus pocus of government accounting
enters the picture. You just don't count things that would make the deficit bigger. You pretend the SSI and SSDI
entitlement programs aren't running deficits. You pretend you are being paid back by Fannie and Freddie, when it is just
meaningless accounting entries. And this doesn't even scratch the surface of the true annual deficits.
Ceiling Lifted, and the Same Day, Debt Jumps $339B. The U.S. national debt jumped $339 billion on Monday
[11/2/2015], the same day President Obama signed into law legislation suspending the debt ceiling. That legislation
allowed the government to borrow as much as it wants above the $18.1 trillion debt ceiling that had been in place.
Podcast: Liberal Lies About
Taxes. The core topic of today's show is the troubling misinformation campaign by the media and the far-left on the topic
of tax rates. They simply refuse to tell the truth about the results of past U.S. income tax rate cuts because the data runs counter
to their class-warfare narrative. [Audio clip]
'Charity' of Liberals. Liberals often attack conservatives for not being charitable and caring. But studies show
that conservatives give more of their own money to charities and that people who go to church give more than people who don't.
By the traditional definition, it's liberals who are lacking in charity. The disconnect can be explained by this quote from a
liberal on FaceBook: ["]There is precious little difference between me giving charity directly, and the government
taxing me a little more and using that.["] Apparently liberals don't realize that increasing tax rates impact everyone,
not just them.
Inequality: Totally Irrelevant In A Country Like America. The fundamental issue behind income inequality could be boiled down to a single
question: Are poor Americans better or worse off because Bill Gates ($79 billion net worth), Oprah Winfrey ($3 billion net worth), Michael
Jordan ($1 billion net worth) and Mark Zuckerberg ($40 billion net worth) are living in the United States?
Fed Just "Discovered" Another $2.7 Trillion In Debt. The people of the United States, misled by its politicians, and plundered
by its financial institutions, are swimming in so much debt that no one will probably ever grasp the truly staggering amount —
if indeed it can ever be fully calculated. Forget paying it all back; the Federal Reserve isn't even apparently aware of how deep the
crisis goes. Officially, the U.S. was already $59 trillion in debt in 2015, but now the number is significantly higher. When
the Fed is changed its method of tracking and reporting debt numbers, and replaced a single Credit Market Instruments chart with two separate
charts for "debt securities" and "loans," it suddenly reported an additional $2.7 trillion.
Nation's Budget Outlook Is Worse Than You Think. The CBO's latest "Budget and Economic Outlook Report" projects
that after dropping this year and next, annual deficits will start to climb and will top $1 trillion in 2025. That's a
slight improvement over the forecast that the budget office made in March. But it still means that the country is on an
unsustainable path. The truth is that given the vast array of revenue, spending and economic variables, nobody can reliably
predict what will happen that far out — a fact that the CBO itself admitted when it started making 10-year budget
forecasts in the mid-1990s. The problem is that these 10-year forecasts have been consistently wrong in one
direction — they've been way too optimistic.
Days: Treasury Says Debt Has Been Frozen at $18,112,975,000,000. The portion of the federal debt that is
subject to a legal limit set by Congress closed Monday, August 10, at $18,112,975,000,000, according to the latest Daily
Treasury Statement, which was published at 4:00 p.m. on Tuesday [8/11/2015]. That, according to the Treasury's
statements, makes 150 straight days the debt subject to the limit has been frozen at $18,112,975,000,000.
$18,112,975,000,000 is about $25 million below the current legal debt limit of $18,113,000,080,959.35.
The Editor says...
As long as you're cooking the books, why not just freeze the national debt at a thousand dollars?
'Real' IRS Scandal Is That It's 'Poorly Funded'. During an interview on the Daily
Show, President Obama insisted that the IRS scandal isn't real. He blames Republicans for not
providing enough money to the federal agency to allow it to do its job. Obama explained that
accusations that they were specifically targeting conservative organizations was false and that IRS
employees were simply implementing laws passed by Congress "poorly and stupidly."
One of the ways of fighting poverty, [President Obama] proposed, was to "ask from society's lottery
winners" that they make a "modest investment" in government programs to help the poor. Since free
speech is guaranteed to everyone by the First Amendment to the Constitution, there is nothing to
prevent anybody from asking anything from anybody else. But the federal government does not just
"ask" for money. It takes the money it wants in taxes, usually before the people who have earned it
see their paychecks. Despite pious rhetoric on the left about "asking" the more fortunate for
more money, the government does not "ask" anything. It seizes what it wants by force. If
you don't pay up, it can take not only your paycheck, it can seize your bank account, put a lien
on your home and/or put you in federal prison. So please don't insult our intelligence by talking
piously about "asking."
claim that illegal immigrants pay more in taxes than some corporations. "In New York,
which I know a little bit about because I represented it for eight years and I live there now, our
undocumented workers in New York pay more in taxes than some of the biggest corporations in New
York." — Hillary Clinton, roundtable in North Las Vegas, May 5, 2015.
I'm not a 'tax-and-spend' liberal. President Obama expressed amazement Wednesday [4/15/2015]
that his opponents portray him as a tax-and-spend liberal, and he also gave a plug for the fiscal responsibility
of the Clinton administration. "If you listen to some of my political critics, they always want to paint
me or the Democratic Party as this tax-and-spend, you know, irresponsible," Mr. Obama said at a town-hall meeting
in Charlotte, North Carolina. "Since I came into office, the federal deficit's come down by two-thirds."
Decries Austerity As Federal Spending Climbs 8.3%. When President Obama announced his
budget plan, he said it was time to end the "mindless austerity" in Washington. While he was saying
this, federal spending was shooting up 8.3%. [...] What's more, Treasury expects outlays for the
entire year to run close to $3.9 trillion, which is higher than either the CBO or the White House
forecasts. If Treasury is right, that will mean a 10% increase in federal spending without anyone
lifting a finger. This, mind you, comes at a time when inflation is running at about 1%.
Chart Is All It Takes: The Ludicrous Claims of Obama as a "Deficit-Cutter". Oh, and
did I mention the chart itself comes from the Obama Federal Reserve?
Claim of $1.8 Trillion Deficit Cuts Open to Question. President Barack Obama's budget
is relying on a series of familiar accounting tricks to show $1.8 trillion in deficit reduction over
a decade, an amount that would shrink by almost half if they were excluded.
House Unaware That 6 Million Americans Will Pay Obamacare Tax This Year. White House
Press Secretary Josh Earnest described reports that millions of Americans would be getting tax bill
because of Obamacare as "inaccurate" just days after the Treasury Department estimated that 6 million
Americans will pay about $2 billion in individual mandate taxes this year. "I don't think
it is accurate to suggest that millions of people are going to get a tax bill as a result of this,"
Earnest said in response to a question Tuesday [2/3/2015] about the millions of Americans who will
pay a tax penalty for not having health insurance in 2014.
analysis finds Obama's 'middle-class' tax cuts won't help three-quarters of the middle class or two-thirds of the
poor. President Barack Obama calls his tax and spending plan 'middle-class economics,' but most
middle-income families would see little change in their tax bills.
Complains About 'Mindless Austerity' While Bankrupting The Country. President Obama says it's time to
end the "mindless austerity" and start spending again. This from the man who's alone added $6.7 trillion
to the nation's debt. 'I want to work with Congress," Obama said in releasing his fiscal 2016 budget, "to
replace mindless austerity with smart investments." Mindless austerity?
'We can afford' $74B spending increase. In his weekly address, Mr. Obama made the case that the federal
government has the money to invest in infrastructure, education and other priorities because of shrinking deficits,
though he also is calling for tax hikes on the wealthy to fund his desired $74 billion increase in spending.
His budget also would undo the automatic cuts known as sequestration, paving the way for even higher spending down the road.
says his $4 trillion budget is 'smarter' than sequestration. President Obama trumpeted
his proposed federal budget for next fiscal year on Monday, calling his combination of tax hikes and
spending increases a "smarter" blueprint for boosting the middle class. "It helps working
families' paychecks go further," Obama said of his $4 trillion budget. "It gives Americans of every
age a chance to succeed." Obama's budget released Monday [2/2/2015] offered few concessions to a
Republican-controlled Congress, proposing hundreds of billions of dollars in tax increases to pay
for his progressive economic proposals.
My budget is a 'blueprint for success'. President Obama Thursday [1/29/2015] touted the looming
release of his federal budget, urging Republicans to support a slate of tax increases to pay for his
economic blueprint for the middle class. "We have to choose what we want that future to look
like," Obama said in an op-ed published by the Huffington Post. [...] The president is calling for a
7 percent spending hike in fiscal 2016, the elimination of across-the-board budget cuts, the
so-called sequester, and an increase of $320 billion in taxes over the next decade.
hikes won't improve the state of our union. President Barack Obama revisited a number
of familiar — and failed — themes in his State of the Union address. Once
again, the president is asking for higher taxes on the wealthy and more government entitlement programs
for the poor and middle class. [...] What is notable is that despite six years of sluggish economic
growth and repudiation of his economic policies in last fall's elections, the president is sticking
to his class warfare guns, choosing to grow government rather than the economy.
IRS Data Expose Dems' Phony Tax-the-Rich Mantra. Democrats unveiled a plan Monday
that — surprise — would boost taxes on the rich. But new IRS data
show these soak-the-rich campaigns are based on total falsehoods.
CBO Report Explodes Tax Fairness Myths. The CBO looks at the distribution of household
income and federal taxes up through 2011, the last year for which it has data. It found, for
example, that: While the top 1% of households accounted for 15% of all income, they paid 35% of
all federal income taxes. The bottom 20% accounted for 5.3% of income, but they got more in
refundable tax credits, on average, than they paid in income taxes. Even when you include payroll
and other federal taxes, the bottom 20% carried just 0.6% of the total tax burden.
Or Hate Speech? [R]ecall 2012 — not exactly ancient history —
when Harry Reid repeatedly claimed that Mitt Romney had gone for a decade without paying any taxes.
And was, therefore, presumably a felon, since no one says that Romney has gone without income. This
was not just a lie, but an insane lie. The idea that a person can earn millions of dollars and just
choose not to pay taxes on his income — as though the tax system were entirely optional, and we
get to select our own tax bracket — is absurd. It is, nevertheless, commonly implied when
Democrats talk about taxes.
Things Barack Obama Has Done Wrong: [#10] When he was running for office in 2008, Obama claimed that,
"Under my plan, no family making less than $250,000 a year will see any form of tax increase. Not your income tax,
not your payroll tax, not your capital gains taxes, not any of your taxes." He lied.
Obamas. Does President Barack Obama know how much he is spending? Critics of the
president asked that question after he asserted, "Since I've been president, federal spending has
risen at the lowest pace in nearly 60 years." (This figure comes from an online article that
has been widely debunked because, among other sleights of hand, it interprets modest rates of increase
in annual spending as a reduction in the spending, even though the total actual spending under Obama's
watch has been gargantuan.)
Fuel Efficient Cars Causing Highway Trust Fund to Go Broke. The problem, you see, is
that the Highway Trust Fund is "going broke," by the Beltway's curious definition of the phrase.
It is sort of the way that after a round of painful "cuts," spending somehow still goes up.
The Highway Trust Fund takes in more than 18 cents on every gallon of gasoline sold in this country,
so there is plenty of revenue. Just not enough to meet Washington's needs and desires. People
are driving more fuel efficient cars and with gas already around $4 a gallon, not taking the trips they
might otherwise take. So instead of having the $50 billion that Congress budgeted, the trust
fund is looking at $34 billion.
The Editor says...
Fuel efficient cars are not the problem. The problem, as you can read below, is that the
government spends money from the Highway Trust Fund on projects that have nothing to do with
Highway Trust Fund Pays for Bike Paths in Wisconsin. A looming shortfall in the
federal highway trust fund threatens to dramatically cut the amount of money states get from the
federal government for road and highway maintenance. But even as some policymakers examine the
possibility of raising taxes to boost revenues, a review of federally-funded transportation projects
in Wisconsin finds that federal money has been spent on things like bicycle paths, archeological
research, and beautification projects, among other things.
Why is the HTF out of money?
The current law governing the federal highway and transit programs, set in effect by the last
highway bill, is called MAP-21: Moving Ahead for Progress in the 21st Century. MAP-21 authorizes
annual spending well above the revenue the HTF will collect and funds a host of parochial projects
that have no business being handled at the federal level. This practice has allowed HTF expenditures
to far eclipse the amount of revenue collected from fuel taxes.
Trust Fund Nearly Out of Money. Chris Edwards, director of tax policy studies at the
Cato Institute, raised similar concerns in testimony in May to the Senate Finance Committee.
"There is no reason to raise the federal gas tax," Edwards said. "You send the money to Washington,
a lot of it gets lost in paper work and bureaucracy and pork-barrel politics." In his testimony,
Edwards noted, since the 1970s, "fuel taxes have been siphoned off for non-highway purposes,
particularly with the creation of the transit program in 1982. About one-quarter of HTF spending
today is for non-highway purposes."
Obama's Plan: Taxes, Spending And Debt. When Obama released
his budget this March, he said it included "smart spending cuts" and closed "tax loopholes" that benefit only "the
wealthiest Americans." Obama added that his budget would put "our debt on a downward path as a share of our
total economy, which independent experts have set as a critical target for fiscal responsibility." As with
just about everything Obama says, none of these claims turns out be true. When the Congressional Budget Office
scrubbed Obama's budget, it didn't find a balanced or responsible plan at all.
Economy-Killing Tax-Hike Frenzy Knows No End. In his first campaign, President Obama pledged to cut taxes
for all but the very rich. Now that another tax day has come and gone, it should be very clear that his pledge
was just another in a long line of falsehoods. [...] A new report from Americans for Tax Reform (ATR), a group that
advocates tax cuts to restore economic growth, says that President Obama has so far pushed for 442 tax
hikes — many of them aimed squarely at the struggling middle class whom Obama has vowed repeatedly
to protect. If Obama were to get his way, he'd be the most prolific tax hiker in history.
casts GOP's balanced-budget plan as 'massive tax cuts' for millionaires. President
Obama on Saturday continued his election-year assault on the House GOP's latest budget proposal,
telling Americans the plan would "raise taxes on middle-class families with kids" and cut crucial
programs while giving more handouts to the rich. In his weekly address, Mr. Obama made his
case — without explicitly saying so — why voters should elect more Democrats
in this November's midterm elections and contrasted the GOP plan with his party's priorities.
Exposes Another ObamaCare Lie, Pays 'Liberty Tax'. Despite White House claims no one has to pay
ObamaCare's individual mandate tax until next year, a Web heavyweight points out that self-employed individuals
file their estimated taxes this year for 2014. In what could be the tweet heard around the world, Internet
icon Matt Drudge tweeted at 11:09 a.m. Friday: "Just paid the ObamaCare penalty for not 'getting
covered' ... I'M CALLING IT A LIBERTY TAX!" A mere 22 minutes later, White House spokesman Jesse Lee
tweeted: "Flat lie, no fee for previous year." Lee's tweet shows just how little the White House
knows about business, particularly small business, [...]
Profound Arrogance and Stupidity of Liberals in Charge. The recent Twitter kerfuffle between Matt
Drudge and the Obama/media/academic complex over the ObamaCare tax demonstrates in plain view and without question
something many of us have known for years: while the organized left insist that they are the only ones smart
enough to run the world, they remain astonishingly ignorant of how it works. [...] In none of these attacks on Drudge
did it occur to these media maestros how self-employed people are impacted by the tax ramifications of ObamaCare.
Not an Obamacare Tax: It's an "Individual Shared Responsibility Payment". Here's your Orwellian Phrase for the
Week: Individual shared responsibility payment. Yeah... Go ahead and try to wrap your brain around that
amalgamation of contradictory concepts. The phrase is not gleamed from some glossy DNC spin-office, or a Harvard professor's
latest psychobabble posing as an academic paper. Apparently the phrase is the IRS's fancy (new) term for the Obamacare
Mandate tax that individuals will have to pay if they fail to get health insurance this year.
White House report says $763 billion stimulus
was free. President Obama's $763 billion stimulus was basically free, according to a White House report that said the American Recovery and
Reinvestment Act was so successful that it paid for itself.
IRS Targeting: Round Two. President
Obama keeps claiming that he had no knowledge of the Internal Revenue Service's abusive muzzling of conservative groups. That line is hard to
swallow given that his Treasury and IRS are back at it — this time in broad daylight. In the media blackout of Thanksgiving week,
the Treasury Department dumped a new proposal to govern the political activity of 501(c)(4) groups. The administration claims this rule is
needed to clarify confusing tax laws. Hardly. The rule is the IRS's new targeting program — only this time systematic, more
effective, and with the force of law.
Much Redistribution Is Enough? To deflect attention from ObamaCare's failures, the president this month trotted out his income
inequality chestnut. "A dangerous and growing inequality," he intoned, "has jeopardized middle-class America's basic bargain." He
argued, "as a trickle-down ideology became more prominent, taxes were slashed for the wealthiest, while investments in things that make us all
richer, like schools and infrastructure, were allowed to wither." Apparently, nobody bothered to brief the president before he delivered
this speech. Fact is, federal transportation spending has climbed 39% in real terms since 1980, and spending on education has more than
doubled. And while Obama claims taxes were "slashed for the wealthiest," the average tax rate among the top 1% was higher in 2010 than
in the early 1980s.
laid bare. [Scroll down] Obamacare is the largest transfer of wealth in recent American history. But you can't say that openly lest you lose
elections. So you do it by subterfuge: hidden taxes, penalties, mandates and coverage requirements that yield a surplus of overpayments.
So that your president can promise to cover 30 million uninsured without costing the government a dime. Which from the beginning was the
biggest falsehood of them all. And yet the free lunch is the essence of modern liberalism. Free mammograms, free preventative care, free
contraceptives for Sandra Fluke. Come and get it.
Banging the Drum for Default. Actually, default is
not paying the interest/principle on what one has borrowed. Current federal revenue is way more than enough to easily pay what we owe on federal
notes, bills, and bonds. If the feds do indeed have enough revenue pouring in to meet their obligations, then actual default would be an act of
volition, a decision by the president. The president would have to decide to squander the full faith and credit of the nation. Such an action
would be an impeachable offense. The president tells us that the deficit has been cut in half. He's right, but that's only because it's come
down from astronomical levels.
Obama: Not Allowing Gov't to Borrow
More 'Would Amount to a New Tax'. Obama said once the debt ceiling is raised and the shutdown is over, "there's a lot we can accomplish
together." He called for more job creation at a time when Obamacare is prompting some employers to cut jobs or move workers to part-time.
And he called for additional deficit reduction in a "smarter, balanced way," which is code for tax hikes.
Obama: 'Raising the Debt
Ceiling ...Does Not Increase Our Debt,' Though It Has 'Over 100 Times'. Raising the debt ceiling doesn't increase the nation's debt, Pres. Obama
declared in a speech today [9/18/2013]. In a speech at the Business Roundtable headquarters in Washington, D.C., Obama dismissed concerns about raising
the debt ceiling by noting that it'd been done so many times in the past.
The Editor says...
This is the kind of double-talking flim-flam that one would expect to hear from a used car salesman out in the sticks — not from someone
holding a respectable public office.
New Obamacare rule
uses terms 'shared responsibility payment' and 'penalty' instead of 'tax'. The Internal Revenue Service's (IRS) final rule on Obamacare's
individual mandate, released this week, uses the term "Shared Responsibility Payment" more than 50 times to describe the mandate's non-compliance
penalty, which the Supreme Court in 2012 defined as a tax. The IRS also used the term "shared responsibility penalty" in the rule, which does not
identify the individual mandate as a tax.
Bam's phone-y tax. Take note of the Obama
administration's latest "for the children" initiative: expanding high-speed Internet for schools across the country. [...] Team Obama recognizes there's
little appetite in Congress for another program. So it's not even going to try for legislation. Instead the plan is to stick AT&T with the bill.
And Verizon, Sprint, T-Mobile, etc. [...] To the extent Americans notice the new fee, they are likely to direct their anger at the private carriers rather than
Reporters Laugh When Obama's Spokesman
Denies Another 'End Run' Around Congress. The White House press corps laughed when President Obama's spokesman on Wednesday [8/14/2013] said
the president, in directing the Federal Communications Commission to raise cell phone taxes to pay for broadband Internet access in schools, would not be
going around Congress.
Lust For Spending Continues. All the talk of massive deficits and the need to cut spending apparently hasn't sunk
in on Capitol Hill, at least not among Democratic lawmakers who continue to push massive amounts of new spending.
The Spending Cuts that Never Were.
Do Washington politicians think we are stupid? There are no cuts in Federal spending. Yet big-government politicians and advocates
continually beat the drum about (nonexistent) budget cuts. Are big-spenders playing a "long con?" [...] President Barack Obama tried to
blackmail Americans into accepting tax increases by holding air travel hostage. Let's call Obama's tactic what it is: extortion.
Obama tried to convince Americans and Congress that unless Congress surrendered to Obama's agenda for higher taxes and higher debt limits,
businessmen and vacation travelers would face long delays at airports.
Tax Breaks Don't Unfairly
Benefit The Wealthy. A new Congressional Budget Office report shows that the rich get most of the benefit from various deductions and
credits in the tax code, music to the ears of the soak-the-rich crowd. But since the wealthy pay nearly all the nation's income taxes, this is
hardly a sign of unfairness. According to the CBO report, the government "spends" about $900 billion through deductions, exclusions, special
tax rates and tax credits, with more than half going to the wealthiest 20% of households, while just 8% goes to the bottom fifth. Democrats, who
ordered the report, celebrated the news, since it appears to provide ammunition for their campaign to impose another tax hike on the rich in the name of
The Bully Pulpit. We have truly entered the world of "Alice in
Wonderland" when the CEO of a company that pays $16 million a day in taxes is hauled up before a congressional subcommittee and denounced on
nationwide television for not paying more. Apple CEO Tim Cook was denounced for contributing to "a worrisome federal deficit," according to
Senator Carl Levin (D., Mich.) — one of the big-spending liberals in Congress who has had a lot more to do with creating that deficit
than any private citizen has.
The Apple Tax Diversion.
You almost have to admire Carl Levin's timing. Amid a furor over politicized IRS tax enforcement, the Michigan Democrat on
Tuesday tried to change the subject to a hardy Washington perennial — corporate tax loopholes. Too bad his designated
business pinata, Apple, demonstrates instead the insanity of the tax code that Mr. Levin has done so much to write.
Outgoing IRS Chief: Taxes [are] Voluntary.
On Friday, former acting IRS Commissioner Steve Miller, testifying before the House Ways and Means Committee, said that America's tax system is
"voluntary." During the hearing, Rep. Devin Nunes (D-CA) said in passing that the U.S. tax code is a "voluntary system." Miller simply
responded, "Agreed." This line has been used before by none other than Senate Majority Leader Harry Reid.
There Was No Surge
in IRS Tax-Exempt Applications in 2010. Fewer groups sought recognition as 501(c)(4) social welfare organizations that year than in 2009,
according to the Treasury Department.
CBO: Obama Vastly Exaggerated
Deficit Cuts In Budget. When Obama put out his budget in mid-April he said that it "will reduce our deficits by nearly
another $2 trillion," and "does so in a balanced and responsible way, a way that most Americans prefer." But the CBO report
finds that Obama's budget will cut 10-year deficits by just $1.1 trillion, with annual deficits starting to rise again after 2017.
And far from being balanced, the CBO found that his plan's tax hikes would outweigh spending cuts by nearly 6 to 1.
The 'Independent' Revenue Service.
One notable aspect of the Internal Revenue Service scandal is President Obama's strange view of accountability within the executive branch.
In his Monday [5/13/2013] remarks addressing the targeting of conservative groups for tax-exempt scrutiny, Mr. Obama declared that the IRS is "an independent
agency." [...] The IRS is many things, but "independent" isn't one of them. It is formally part of the Treasury Department and is headed
by the Commissioner of Internal Revenue, who is appointed by the President. The Commissioner is accountable to the President reporting
through the Treasury Secretary.
about the use of the IRS as a weapon.
Obama: $1 trillion in
Obamacare spending is historic 'tax cut'. As part of a Mothers' Day weekend defense of his signature legislative accomplishment,
President Obama claimed that the law represented the "largest health care tax cut for working families and small businesses in our history."
His argument was a Hail-Mary effort to redesignate subsidies for individuals to purchase health insurance on government-run exchanges as a "tax
cut." But according to the Congressional Budget Office, these subsidies actually qualify as more than $1 trillion in "Exchange
Subsidies and Related Spending."
Obama Budget Shows
Middle-Class Tax Pledge Was Fraud. A new study shows President Obama's budget would significantly boost taxes on the middle
class. Funny, we seem to recall him promising voters that only the rich would pay for his grandiose spending plans.
The Decline of Obama. In the 2014 budget he announced last week, Obama
proposed a more accurate way of calculating the inflation rate for annual cost-of-living increases in Social Security. It's a technical change in pursuit of
honesty and good government. And if adopted, it would cause benefits to grow more slowly, though almost imperceptibly so. [...] Then came the catch. The
president's price for adopting this gentle reform was hundreds of billions in new tax increases. It was a price Republicans were certain to reject, as Obama
Senate Democrats Want
Unnecessary $1.5 Trillion Tax Increase. It has been nearly four years since the last time the Senate passed a budget.
In that time, it hasn't as much as proposed a budget. That at long last changed yesterday when Senate Budget chairwoman Patty Murray
(D-WA) released a budget plan for next year. Now that the Democrats in control of the Senate have at least proposed a budget,
passing it through the senior chamber will be the next challenge. Doing so will be no small order. It could be difficult
because, to no one's surprise, Murray's budget includes a massive tax increase. She wants to raise taxes by $1.5 trillion
over the next 10 years. She would do so by "closing loopholes."
Obama: Our Out-of-Control Debt Is 'Sustainable' for the Next
Decade. In an interview with former Bill Clinton apparatchik George Stephanopoulos aired on ABC Wednesday morning [3/13/2013],
President Barack Obama shared his beliefs about where the nation stands financially. The takeaway quotes from that sit-down concern
Obama's unserious take on the size and grave nature of the federal government's annual deficits, which have exceeded $1 trillion
during each of the past four fiscal years, and the national debt, which, at $16.71 trillion as of Tuesday, has increased by over
$6 trillion since he took office less than 50 months ago.
Pelosi: 'Tax Cuts Are Spending'.
House Minority Leader Nancy Pelosi (D.-Calif.) said today that the government must cut spending, and then explained that:
"Tax cuts are spending." "Our whole budget is what $3.5 trillion," Pelosi said at a Capitol Hill press conference.
"So, when we talk about reducing spending, we certainly must, and we certainly have — $1.6 trillion in the
previous Congress, $1.2 [sic] of it in the Budget Control Act.
Won 'Whopper Of The Week' For $2.5 Trillion Deficit Reduction Claim. During a speech on the Senate floor last week, Senate Majority
Leader Harry Reid falsely claimed that the Democrats have reduced the budget deficit by $2.5 trillion. It's such a gross lie it's
almost laughable, and earned Reid the "Whopper of the Week" award from The Washington Guardian.
Harry Reid falsely claims the government has cut the deficit
by $2.5 trillion. It's politically fashionable now to say you've helped reduce the nation's debt. And at nearly $1 trillion
annually, there's a lot of debt to be reduced. But during a speech this week on the Senate floor, Majority Leader Harry Reid claimed
that over the past two years the government has reduced the deficit by $2.5 trillion — almost double the amount the deficit is
right now. "In the last two years we have reduced the deficit by $2.5 trillion," he said.
The Editor says...
This shows how comfortable the Democrats have become with the word trillion.
Conyers: 'The Debt Is Not Endangering Us a Bit ... We Don't Think There's a Problem'. Rep. John Conyers (D-Mich.), the
ranking member of the House Judiciary Committee, said on Thursday [3/14/2013] that the nation's current debt of $16.7 trillion
is "not endangering" the country, adding that "some debt is not a bad idea" and that he and other congressional Democrats "don't
think there's a problem." Conyers and other liberal Democrats spoke at a Capitol Hill press conference about their initiative
to compel Congress to cancel the across-the-board budget cuts (sequester) of $1.2 trillion over 10 years, which
actually are reductions in the rate of increase in federal spending and amount to $44 billion for this year.
The Logic of Liberalism.
[Scroll down] In sum, the liberal solution almost always involves more governmental intervention, more governmental
interaction, and particularly more taxation. Moreover, the liberal wants to be involved in everything; no issue is too
unimportant for their watchful eyes. [...] One could justifiably argue that every proposed tax dollar increase is earmarked
to be spent on three or more distinct venues. This small, though paradoxically large, detail is never explained by anyone.
Obama's Colossal Media Blunder. Eschewing talks with Congress or any pretense of leadership, he is instead flying
around the country burning $180,000 an hour on Air Force One laying out a parade of horribles that will descend upon us if the
growth of federal spending were reduced by one iota. Why is he doing this? Because the mainstream media are lapping
it up. Poisoned meat coming to grocery shelves near you! Air traffic grinds to a screeching halt! Fires, murder,
and mayhem in the streets as first responders are laid off!
Simpson-Bowles Exposes Obama's
Phony Deficit Claims. Liberals are howling about the latest Simpson-Bowles deficit plan because, they say, it's too right wing. It's
hardly that. But the plan does expose how fatuous President Obama's claims about the deficit have been.
Obama uses cops and firemen as props:
Republicans Would Rather
Protect the Wealthy Than First Responders, Obama Says. Speaking at the White House on Tuesday [2/19/2013], President Obama said Republicans
have a choice: "Do you want to see a bunch of first responders lose their jobs because you want to protect some special interest tax loophole?"
He was surrounded by emergency responders as he spoke.
The Editor says...
I wasn't aware that firemen and cops received their paychecks from the federal government.
Without Serious Spending
Cuts, the Conservative Base Will Walk Away. What the Fiscal Cliff deal also illustrates is the utter mendacity of Democrats who for years
droned on and on about the Bush tax rates as "tax cuts for the wealthy." The vast majority of Democrats (49 in the Senate and 172 in the House) voted
to make the evil Bush tax rates permanent. The lapdog media, however, contends that the president won big in the Fiscal Cliff deal.
The Sequester Was
Always About Raising Taxes. President Obama's proposal to delay the $1 trillion sequester with a "balanced" package
of spending cuts and tax increases should come as no surprise. Since its initial conception back in August 2011 (it was Obama's
idea), the sequester has always been viewed by Democrats as a mechanism with which to exact higher taxes from Republicans.
Democrats offer only one solution to any problem: More
spending and higher taxes.
Harkin: 'Is It a Spending
Problem? No ... It's a Misallocation of Wealth'. Sen. Tom Harkin (D-Iowa) said on Thursday that U.S. government
does not have a spending problem, but America suffers from "a misallocation of wealth." "I look at it this way," Harkin
said at a Senate Appropriations Committee hearing on the Budget Control Act of 2011 (the law that includes the automatic spending
cuts referred to as "sequestration"). "We're the richest nation in the history of the world. That kind of begs the
question doesn't it? If we're so rich, why are we so broke?"
The Editor says...
There are so many lies and half-truths in Senator Harkin's outburst that it is difficult to catalog them all. First, the United
States is not necessarily the richest nation on earth, if the country's assets are weighed against its $16 trillion debt. Second,
the private individuals' wealth cannot be counted toward the "nation's" wealth. Third, the top 1% of American taxpayers pay most of
the taxes already. Fourth, the reasons for this country's financial ailments are no mystery: the government employs far too
many bureaucrats, gives money to people who are too lazy to work, rewards promiscuous women for repeatedly giving birth to illegitimate
children, and wastes billions of taxpayer dollars on extravagant pork barrel projects that benefit no one.
NY Times Notices Obama Tax Hikes Are
Crushing Americans, Fails to Mention Obama. This should be the first in a series. Wait until these poor [people] start have to paying $20,000 a
family to start for their free ObamaCare. Still, curiously missing from this story is the name of the man responsible for this massive tax hike.
Obama's tax hikes on the rich to pay debt? He's already spent every penny. For weeks Obama traveled the country telling
anyone who would listen and some who'd rather not that he's so absolutely positively determined to cut America's $16.4 trillion
national debt that he did so much to grow. And he was insistent on milking money from the rich to do just that. Well, guess
what? That $50.4 billion spending bill for, among other things Hurricane Sandy aid, just ate up every single penny of
that tax hike for this year, plus another $10 billion.
The bankruptcy of the Obama-Pelosi
'progressive' agenda. Government spending is up over a trillion dollars, the federal deficit is spinning out of control
and the country faces a credit downgrade by Moody's. Former speaker Pelosi vilifies Republicans for not embracing the President's
"balanced" approach, but he shows no interest in cutting spending and only passion for raising taxes on success.
Sandy relief bill eats up taxes on
the rich. Congress is poised to clear the final $50 billion chunk of emergency aid for Superstorm Sandy relief Monday
[1/28/2013] — and in one vote, it will have used up all the new tax money President Obama won by raising rates on the wealthy in
the "fiscal cliff" deal.
Now They Tell Us:
Obama's Tax Promises Were Bogus. Remember all those mainstream news reports before the election about how President Obama's
expansive spending plans would require massive tax hikes on everyone, not just millionaires and billionaires? Neither do we.
But somehow after the election, reporters are finally admitting that Obama's budget numbers simply don't add up and that new taxes on the
middle class — including a European-style value added tax — are "inevitable."
Obama's Zero-Sum Game and
the Coming Redistribution Bubble. Obama has used redistribution rhetoric to spend so much money that a deficit of over
5 trillion dollars has been created in just his first term. What does Obama expect will happen when this debt needs to be paid?
If all of the Obama debt is paid by only the rich, then the zero-sum solution would predict that less money is then available to redistribute to
the poor. If Obama expects all taxpayers, both rich and poor, to pay this debt, everyone will be left with less disposable income.
Through time, then, more income taxes will be used to service the debt payment, not to support income redistribution. The president and his
army of academic supporters refuse to address this issue.
The truth about Obama's tax fake out.
Further out, this agreement will do almost nothing to slow the dangerous erosion of our nation's financial strength; projected ten-year
deficits of $7.9 trillion will be whittled down by $650 billion as the wealthy, by the way, pay not "a little more," but quite a
lot more. On top of a hike in rates from 35% to 39.6%, the wealthy will also see deductions phased out, will be paying new surtaxes
on investment income to fund ObamaCare and Medicare as well as higher rates on investment income. In addition, several states,
including California, have passed new taxes on those in the top income brackets.
Let's Retire These
Tired Straw Men in 2013. The notion that somehow the budget is going to be balanced "on the backs of" a sacred-cow
contingency (usually teachers, policemen, and firefighters) is quite difficult to respond to, simply because it doesn't make any
sense coming from Obama and his party. The Democrats extended the Bush tax cuts in December 2010 when they had total control
of the federal government. In January 2011, the Republicans gained control of only the House and couldn't push changes to tax
policy. Moreover, the Bush tax cuts helped the middle class and working class tremendously.
Obama: 'I Cut Spending by Over a Trillion Dollars in
2011'. Appearing on NBCs "Meet the Press" on Sunday, President Barack Obama said that he cut spending by more than $1 trillion in
2011. However, the White House Office of Management and Budget says that federal spending increased by $147 billion from fiscal 2010 to
The Fiscal Cliff Diversion. [Scroll down] Yet
maybe the most telling informational deficiency is the shortage of reporting on the economic stimulative effects of previous income tax and capital gain
tax reductions. Reductions that then resulted in growing tax revenues and appreciable increases in prosperity for the American people. In
fact MSM stories have tried to debunk the realities of the Coolidge, JFK, Reagan, Clinton and Bush 43 tax reductions that kick started past sagging
economies. The media's reluctance to discuss tax cutting or the subsequent economic surges that followed their execution has largely removed these
strategies from public debate.
The truth is that politicians are
telling lies. If a tax rise is modest enough to be politically acceptable to much of the electorate, it will not produce anything like
enough to finance the universal American entitlement programmes, social security and Medicare, into a future with an ageing population. There is
no way that "taxing the rich" — that irresistibly glib Left-wing solution to everything — can make present and projected levels
of government spending affordable.
With Election Over, Americans
Find They Were Duped By Democrats And Obama. Remember how Obama and his Democratic surrogates taunted Republicans repeatedly, saying they
wanted to raise taxes only on "millionaires and billionaires" while cutting taxes for the middle class? When Republicans tried to do just that,
Obama said no thanks.
American Politics as a Confidence
Game: One of the most incredible and successful confidence games recently has centered on claims that the rich don't pay
their "fair share," with the implication that the rest of us are shouldering a disproportionate burden of federal income tax payments.
Now, the target in this case consists of half the population that pays no federal income taxes at all, along with their
"shills" — supporters — in the media and elsewhere.
Priebus: Obama's Fiscal Cliff Talks 'Dishonest Conversation'.
"It's ridiculous that we're having conversations about raising taxes in order to avoid a fiscal cliff, which is something that will, obviously, raise taxes on every
American no matter what you make — and that the president is willing to do in order to try to raise taxes on people no matter what their income is," [RNC
chairman Reince] Priebus tells Newsmax in an exclusive interview.
Boehner's Plan B Exposes Obama's Grade-A Tax Lie.
For years, President Obama said he just wanted to raise taxes a little bit on millionaires and billionaires. So guess how he responded when House Speaker John Boehner proposed
to do just that.
Obama Peddles Massive Myth About The Fiscal
Cliff. Practically every time he opens his mouth these days, President Obama warns that middle-class taxes will automatically go up on Jan. 1 if
Congress fails to act on the fiscal cliff before year's end. [...] But Obama is creating a false sense of urgency — and needlessly scaring millions of
middle-class families — simply to gain additional political leverage over Republicans.
Strategy Is Doomed to Fail. In an interview with Fox News host Bill O'Reilly last year, President Obama claimed he "didn't raise taxes
once." O'Reilly didn't challenge the claim, and other reporters repeated it as fact. But it was completely false.
House's spending cuts? Critics call it creative Washington accounting. "Over the past several years and as a part of the debt
limit negotiations, they pretended to cut spending using the Washington definition, meaning that spending doesn't rise as fast as it was
going to," Dan Mitchell of the Cato Institute said. The "Washington definition" Mitchell refers to is baseline budgeting, a technique
put in place in 1974 as a part of post-Watergate reforms that allows spending increases every year by factoring in inflation and population
increases. Under baseline budgeting, legislators frequently use the term "cuts" to describe what is, in reality, a slowing of projected
What happens if we confiscate 100% of
all the income for people who make more than $200K? The IRS received 3,924,490 tax returns showing an income over $200K.
These returns represent a total income of $1.964 trillion! That's a huge amount of money. But it's still not enough.
The federal government is spending about double that this year. Confiscating 100% of the income from those who made more than $200K
funds the federal government for only about six months.
Italics in original.
Obama Fairy Tale Won't Magically Restore Public Services. The Obama administration and its allies are so desperate to portray tax
hikes on the rich as the solution to all our problems that they're trying to persuade the public that tax cuts for the rich caused all
Spender in Chief. Obama's plan for a fiscal cliff
compromise reflects his hostility to spending cuts. Instead, he wants to raise taxes by $1.6 trillion. That's a nonstarter.
He wants another stimulus of $50 billion. It's already DOA on Capitol Hill. Worse, he's back with the most fraudulent spending cut
of all, $800 billion in reduced funding for wars in Iraq and Afghanistan a few years from now when they're no longer being fought.
Obama Wants to Spend More, More, More. President
Barack Obama is demanding more than $1 trillion in new spending as part of a deal to avert the so-called fiscal cliff, according to a top
Republican Senator. Sen. Jeff Sessions (R., Ala.), ranking member on the Senate Budget Committee, is taking the White House to task for
its "disappointing" effort to mislead the American people on the issues of spending and taxes.
Mantra Raves. It's not hard if you have a show on
MSNBC. There's a mantra and all you do is repeat it, like a fourth grade math teacher going over the same fractions year after
year until she starts to develop a dislike for 10-year-olds. I get home from work and click on the TV and MSNBC's Chris Matthews
is saying "the rich" aren't paying their "fair share."
Fiscal Cliff Notes: Part II. It sounds
very plausible, and constant repetition without a challenge may well be enough to convince the voting public that, if the
Republican-controlled House of Representatives does not go along with Barack Obama's demands for more spending and higher tax rates on the
top 2 percent, it just shows that they care more for "the rich" than for the other 98 percent. What is remarkable is how
easy it is to show how completely false Obama's argument is. That also makes it completely inexplicable why the Republicans have
not done so.
Costly Words. I have several pet
peeves, and one of them is the idea that when Americans get to keep their own money, it somehow "costs" the government.
believes 'balanced' means more spending, higher taxes. President Obama has made clear that he will not accept a deal to
avoid the "fiscal cliff" that does not include tax rate increases for families making more than $250,000 annually. But just how much
will this tax increase accomplish in terms of reducing deficits and putting the nation on the right fiscal track? As it turns out,
Full List of Obamacare Tax Hikes. Obamacare law contains
20 new or higher taxes on American families and small businesses.
Spending, Not Bush Tax Cuts, Drives Deficits. President Obama often talks about the need for a "balanced"
approach to deficit reduction, by which he means tax hikes in addition to spending cuts. At the recent presidential
debate, for example, he said, "We've got to reduce our deficit, but we've got to do it in a balanced way —
asking the wealthy to pay a little bit more along with cuts." The only problem with this approach is that the
massive projected deficits over the next 10 years aren't the result of too few taxes. They are entirely the
result of too much spending.
Obama's Big Tax Increases on Small Business.
It is quite a stretch for President Obama to argue that he wants to cut taxes for small businesses. In reality, he is proposing to increase taxes
on small businesses by around $49 billion.
No More Excuses. Interestingly, Obama and the Democrats have had
their own stock response line to every problem — it's George W. Bush's fault. Blaming the current economic mess on tax cuts, as Obama
and his warm up act, Bill Clinton did, is a bit bizarre, but the Democrats don't have a whole lot to work with. Tax cuts had nothing to do
with the financial panic of 2008 or the real estate bubble that preceded it. At no time in American history can a tax cut be shown to have
caused a recession.
Schumer Cites 'Impartial' Tax Report Authored by Obama
Donor. [Scroll down] The Washington Free Beacon reported last month that the report's author, Thomas L. Hungerford, has donated
at least $3,400 to Obama and at least $2,450 to Democratic candidates and committees since 2008.
Obama's childlike belief in the money tree.
There is something at once fascinating and frightening in the Obama campaign meme that the rich should be forced to "pay a little bit more." [...] He
told an audience at George Washington University that "the rich can afford to give back a little bit more." Notice that the wording
is give back not give, as though tax revenues are monies that belong to the government in the first place.
It Won't Cost Gov't a Penny to Help More Homeowners If GOP Would 'Just Get Out of the Way'. Vice President Joe Biden,
speaking at a high school in Detroit Wednesday [8/22/2012], said "it won't cost the government a penny" to help more homeowners stay in
their homes, "if the Republicans would just get out of the way." Biden took credit for cutting taxes for the middle class "every year
we've been in office," adding that federal taxes for the middle class are "nearly at their lowest levels since the Eisenhower administration."
Obama Lies, Claims Romney-Ryan Will Raise Your
Taxes. Suddenly the greatest tax-hiker in American presidential history, Barack Obama, is posing as a tax-cutter, and trying to position
tax-cutters Mitt Romney and Paul Ryan as tax-hikers.
The shocking truth that
Harry Reid can't deny. [Scroll down] Reid didn't have time apparently to mention an accurate report that 36 Obama
White House aides are $833,000 behind in their taxes, according to the Internal Revenue Service. Nor did Reid explain how the IRS has
somehow overlooked a decade of missing tax returns from a multi-millionaire who's this administration's main political opponent.
The Obama Campaign:
Like Demagoguery, Only Dumber. Didn't the Democratic House of Representatives pass a two-year extension of the Bush-era
tax rates in 2010? And didn't the Democratic Senate likewise pass a two-year extension of the same rates? And what
president signed that extension of the Bush era tax rates — just like the one the House passed today — into law? Wasn't that
Barack Obama? So, when the Democrats extended the same rates in 2010, was it "reckless tax cuts for the wealthy?"
Was it "putting millionaires and billionaires ahead of the middle class" when the Democrats did it? Back then, Barack Obama
said it was a bad idea to raise taxes in a recession. What's changed? Is Obama now willing to raise taxes because he thinks
"the private sector is doing fine?" Or is this whole thing nothing but craven political posturing for November's election?
Dems Leave Reid Out to Dry on
Tax Accusations. Senate Majority Leader Harry Reid continues to accuse Mitt Romney of ducking taxes for 10 years
without a hint of evidence. [...] If Reid thought his accusations would result in another media outcry for Romney's tax returns, he
made the wrong bet. Instead the media seems to be primarily interested in chronicling Reid's bizarre outbursts.
Obama's Calculated Deception. The
Obama campaign is trailblazing new realms of dishonesty in the history of American politics, bringing to America for the first time
Soviet-style propaganda that flies in the direct face of reality, buttressed by dishonest, party-controlled media operations.
Moreover, it is a classically abusive Saul Alinsky trick to accuse your opponent of planning to do exactly what you have done, as
Obama does in continually accusing Romney of proposing to raise taxes on the middle class. Only an idiot can fail to see that
the entire Democrat party's spending plans require sweeping tax increases on the middle class.
In Obama's World,
The Government Owns Your Paycheck. Speaking last Wednesday in New Orleans at a campaign event, Obama talked about "another
trillion-dollar giveaway for millionaires" in reference to an extension of the Bush-era tax cuts. A day later, White House spokesman
Jay Carney did the same thing. He called the extension "another $1 trillion giveaway to the wealthiest Americans." What they
are talking about is the House Republicans' opposition to legislation approved in the Senate that would raise taxes on those earning more than
$250,000 a year, a sum less than the president makes yet is somehow considered to be the mark of wealth.
Promised He Wouldn't Raise Taxes On the Middle Class. He Lied. When he was asking for our vote in 2008, then candidate
Barack Obama famously promised the American people, "I can make a firm pledge. Under my plan no family making less than $250,000 a
year will see any form of tax increase. Not your income tax, not your payroll tax, not your capital gains taxes, not any of your
taxes." But as the Supreme Court has now authoritatively ruled, the Obamacare individual mandate, requiring workers to purchase
the health insurance the government specifies each family must buy, is a tax. And that tax applies to the middle class and working
people. CBO estimates that health insurance will cost $15,000 per year on average for families soon after Obamacare is fully
implemented, rising rapidly from there. That is the individual mandate tax on the middle class and working people.
A Primer on Obamanomics.
For some four years now, Barack Obama has been telling us that the dramatic tax cuts that George W. Bush got passed in order
to encourage investment, rev up the economy, create jobs, and generally let Americans keep more of their own money were
really a disaster. According to the Book of Obama, those tax cuts led to the Great Recession that it took his administration
to end. But if so, why does he want to extend those same tax cuts? If they were such a bad idea then, why are they
such a good idea now? Because a different president is pushing them?
The Invincible Lie. Anyone
who wants to study the tricks of propaganda rhetoric has a rich source of examples in the statements of President Barack Obama.
On Monday, July 9th, for example, he said that Republicans "believe that prosperity comes from the top down, so that if we
spend trillions more on tax cuts for the wealthiest Americans, that that will somehow unleash jobs and economic growth."
Let us begin with the word "spend." Is the government "spending" money on people whenever it does not tax them as
much as it can? Such convoluted reasoning would never pass muster if the mainstream media were not so determined to see no
evil, hear no evil and speak no evil when it comes to Barack Obama.
Hasn't Cut Small Business Taxes 18 Times. President Obama has been running around lately claiming he's cut small
business taxes more than a dozen times. That no doubt would be news to the nation's small business owners.
People Who Watch Fox News Are "Stubborn". "So, just in case some of your friends or neighbors or, ya know, Uncle
Jim who's a little stubborn and been watching Fox News and, ya know, he thinks that somehow I raised taxes. Let's just be
clear. We've lowered taxes for middle class families since I came in office," President Obama said at a campaign event in
Virginia Beach, VA today [7/13/2012].
The Invincible Lie: Part
II. The point here is that Obama knew then that tax rates and tax revenues do not automatically move in the
same direction. In other words, he is lying when he talks as if tax rates and tax revenues move together. Ms.
Borger and others in the media may or may not know that. So they are not necessarily lying. But they are failing
to inform their audiences about the facts — and that allows Obama's lies to stand.
Biden 'considers $379,000 income middle class'. Joe Biden considers himself to be part of America's middle
class, despite his $379,000 income. Speaking to the National Council of La Raza in Las Vegas about home ownership,
the vice president said that the upper class 'doesn't get it — for middle class folks like me and you, owning a
home is the single most consequential element to our existence.' President Obama has been heavily campaigning his
$250,000 threshold that would cause income taxes to rise for the wealthy.
"If You've Got Health Insurance, You're Not Getting Hit By A Tax". At his third campaign event of the day,
President Obama told supporters in Roanoke, Virginia those with health insurance, under ObamaCare, won't get "hit by a tax."
Of course, this implies if you do not abide by the individual mandate then you will be facing a tax.
We don't 'pay' for tax cuts, Mr. President, we pay for
spending. "This isn't about taxing job creators; this is about helping job creators" — Barack Obama. Is there a
"fairness" factory out there somewhere producing jobs? If not, many questions remain about Barack Obama's obsession with ending Bush-era tax
cuts. Namely, how it would do anything to help propel economic growth? (It won't.)
Obama silent while
spokesman denies mandate is a tax. In an interview on CNN Thursday morning [7/5/2012], Obama campaign spokesman Ben LaBolt
said that President Obama disagrees with the Supreme Court's ruling that the individual mandate in Obamacare is a tax. Anchor
Soledad O'Brien asked LaBolt: "His spokesman... said it's a penalty. The Supreme Court has said it's a tax. What does
he believe?" "That it's a penalty," LaBolt answered. "You saw our arguments before the Supreme Court..." "So then he
disagrees with the Supreme Court decision that says it's now a tax?" O'Brien asked. "That's right," said LaBolt.
Spokesman: Obamacare Is Unconstitutional, MSM Ignores. Thursday [7/5/2012], on CNN's morning show "Starting Point,"
Obama campaign spokesperson Ben LaBolt first said President Barack Obama thought the individual mandate was a "penalty" even
though the Supreme Court said it was a tax. When asked if Obama disagreed with the Supreme Court's ruling on Obamacare, LaBolt
then said, "that's right. He's said that it's a penalty." Then, LaBolt lied and said the Obama administration never
even argued the individual mandate could be a tax during oral arguments...
White House Memo Urges Allies to Mislead on Obamacare
Tax. A memo published by White House Senior Adviser David Plouffe advises allies to mislead when they discuss the recent Supreme
Court decision on the individual mandate, saying they should call it a penalty when it is in fact a tax.
Delusional Thinking on the Left. What is
going on here is that liberal reporters and columnists are trying to convince us that the fact that the Supreme Court upheld Obamacare's mandate only
as a tax, and that Obama's lawyers argued vociferously that the penalty is a tax, at the same time that Barack Obama denied it is a tax, is somehow
Mitt Romney's problem rather than Obama's. This is a typical liberal tactic: if we say something over and over — in
unison! — we can make people believe it.
ObamaCare's 7 Tax Hikes On
Under $250,000-A-Year Earners. Obama's pledge against any form of tax increase on Americans making less than $250,000 a year "was thrown
out the window" when he signed the healthcare law, says John Kartch, communications director with Americans For Tax Reform (founded by anti-tax crusader
Chair: It's easiest for the IRS to administer the health care mandate, but it's not a tax. Just remember, guys: The Internal
Revenue Service might be the best-equipped entity to administer the "penalty," and the "penalty" might be assessed on your tax return, but the
requirement to pay a "penalty" if you don't buy health insurance is most definitively not a tax.
Obamacare's Hideous History, Recounted. [Scroll
down slowly] Twelfth, as has been well documented, the administration and Democrats had to argue first that the individual mandate's penalty was
not a tax (in order to round up congressional votes), then had to argue in some courts that it was a tax (for some purposes) and in other courts that
it wasn't a tax (for other purposes), and then have to use the "it's a tax" argument as a Hail-Mary afterthought in its Supreme Court argument even
while knowing full well that if they somehow won the case on that basis, they would immediately disavow in public the very argument they used to win
Obama, Roberts, and the Left
Juristocracy. It was widely expected that Roberts would oppose using the Commerce Clause to allow Congress to do whatever it wanted, but
entirely unexpected that Roberts would give the same effective power to Congress through its taxing power, when the Obamacare legislation never
invoked that power or even the word "tax."
Lew's Law. Yesterday John wrote about the appearance of Obama chief
of staff Jacob Lew on Fox News Sunday [7/1/2012]. Lew did not simply deny that that the Supreme Court upheld Obamacare on the ground that the
individual mandate is a tax. He would't even concede that the Supreme Court so held (wrongly, in my opinion) because the lawyer representing the
government in the case asserted that it was. When Chris Wallace plays the clip from Solicitor General Donald Verrilli making the relevant point
during the oral argument before the Court, you can see the gorge rising in Lew's face. He is angry at being shown up as a liar, yet it does not
deter him in the least.
the Supreme Court decision on Obamacare.
Now Available: Free "Obama" Phones.
If you are already receiving any public service, you are probably entitled to a Volksphone. There are upwards of 20 million people
enjoying what they are told are "free Obama phones". The rest of us are forced to subsidize the Volksphone through hidden taxes assessed
by the Obama Federal Communications Commission (FCC), through the universal service fund. [...] Obama's emissaries created the program, mandate
the assessments on the telecommunications companies, who then pass the cost to us. Then candidate Obama can enjoy the fruits of the
giveaway, while Chief Executive Obama can deny responsibility for levying the taxes.
Obama Lies About Reagan Endorsing
Buffett Rule. The president's narcissistic self-insertion into official presidential biographies would have us believe the Great
Communicator would agree with the Great Teleprompter Reader on taxes. Well, there he goes again.
Look What Obama's Bragging About Now.
President Obama boasts on Twitter that spending, taxes and deficits are all below where they were when he took office. The truth is, he inherited a bad
situation and made it worse.
President's Math Doesn't Add Up. [Scroll down] And what about the
president's hallmark proposal to tax all millionaires a minimum of 30 percent? As it turns out, most already are paying
that amount, so despite all of the president's bluster, it would only bring in about $4 billion per year — enough
to fund Social Security and Medicare for about a day. Apparently, in the president's world, numbers no longer need to
Obama's Buffett rule push 'an embarrassment,' 'so shameless,' 'deceptive'. "It's literally incredible,"
Krauthammer said. "It's almost an embarrassment. It's so shameless. If you were to collect the Buffett tax
for the next 250 years, that's longer than the life of this republic, you will not have covered the deficit —
Obama's deficit — for 2011.
Obama's Springtime of Discontent.
A centerpiece of Obama's re-election strategy is class warfare personified by the promotion of the Buffett Rule -- legislation
to compel Americans earning $1 million or more annually to pay a minimum 30% in income taxes regardless of the income source.
Last September the president claimed that this tax was needed to "stabilize our debt and deficits for the next decade." However, it
turned out that the total amount of revenue raised by this tax over the next ten years was a mere $46 billion, while the projected
deficits in the Obama ten year budget would amount to more than $9,600 billion.
The case of President Obama's missing oil tax.
Candidate Barack Obama pushed it hard in 2008: a tax on Big Oil company profits that would flow back to families in
$1,000 rebate checks. President Barack Obama acts as if the idea never existed.
Clueless About Job Creation.
When the president begins a speech these days with praise for free markets, look out! What comes next are proposals for more
government intervention in the economy and higher taxes. That's the recipe, Obama says, to "encourage our long-term economic
growth and stabilize our budget." He said so in his Republicans-are-Social-Darwinists speech in Washington two weeks ago to newspaper
editors. Near the outset, Obama declared: "I know that the true engine of job creation in this country is the private sector, not
Washington, which is why I've cut taxes for small-business owners 17 times over the last three years." Those cuts have had
minimal effect, and not surprisingly. They were tiny and temporary, and few small-business owners bothered to claim them, if indeed
they were eligible to do so. Meanwhile, the president has persistently sought to raise their income taxes.
I'm not trying to 'redistribute wealth'. President Obama, who famously called for tax increases on the wealthy to
"spread the wealth around," denied today [4/10/2012] that his tax increases on the rich are an attempt to "redistribute wealth."
"So these investments — in things like education and research and health care — they haven't been made
as some grand scheme to redistribute wealth from one group to another," the president said today at Florida Atlantic
University. "This is not some socialist dream," Obama added, as he called for tax increases on millionaires today
to pay for those investments. When he advocated the same plan in 2008, though, Obama described this "spread the
wealth around" policy.
The Buffett Rule shows...
The President's Intellectual Exhaustion.
The Obama presidency has reached the point where a policy that virtually everyone (including the president) concedes is a gimmick is now a
centerpiece of Obama's campaign. There are many ways to measure the intellectual exhaustion of the Obama presidency. This isn't
a bad place to start.
Obama's Fuzzy Math. One passage from the president's
April 3 speech at the Associated Press luncheon in Washington, D.C., which he has repeated several times this week,
contains some dubious assertions but has yet to receive any public scrutiny. Obama contends that the GOP budget,
authored by Rep. Paul Ryan (R., Wis.), would provide "an average tax cut of at least $150,000 for every millionaire
in America." It is unclear how the president arrived at that figure.
considered a $170 billion soda tax to pay for Obamacare. In the view of the Obama White House, a $170 billion
excise tax on soda doesn't raise taxes on the middle class. Nor does a new $20 billion labor tax raise taxes on the
middle class. Unless the tax is specifically an income tax, it doesn't really count against Obama's pledge in their view.
This is why Obama doesn't consider various Obamacare taxes, such as new limits on health savings accounts or taxes on medical
device manufacturers, as middle-class tax hikes, although they surely will come out of middle-class pocketbooks.
California Tax Revenue Plunges by 22%. California politicians seem delusional in their continued
delusion that high taxes have not savaged the State's economy. Each month's disappointment is written off
as due to some one-time event.
Not One Penny More For America's Welfare
State. [Scroll down] When Democrats do talk about taxes, they are often equally disingenuous.
In 2004, John Kerry ran for president promising to raise taxes on families with incomes above $200,000 per year
and to cut taxes for the other 98% of the population. Four years later, Barack Obama ran for president
promising that the government could meet all its existing obligations and take on many new ones, while confining
tax increases to individuals making more than $200,000 and families making more than $250,000. Do these
vows hold water?
ScoffCare. Where there's a
trillion dollars or more in new spending, there are going to be new taxes paid for by millions of middle-class
Americans — even if the taxes are called something else.
Ruse Conference. The
president on Friday revealed the narrative for the Obama re-election campaign of 2012, and it shamelessly
rewrites history. The story goes like this: Bush hurled the global economy on a path toward
depression by cutting the taxes of millionaires. Obama then came to the rescue with his policies —
but the Republicans dug us into such a hole that it's taking even longer to dig out. The trouble with
this myth is that even Democrats running for re-election are shunning it.
commentary about President Obama's news conference on September 10, 2010.
President's Loophole Lie. That jet-tax loophole derided by the president is one he himself
proposed as part of the stimulus approved by a Democratic Congress. Does the left teleprompter know
what the right teleprompter is saying?
President Obama's war on facts.
President Obama's "corporate jet" line from his press conference Wednesday [6/29/2011] is crashing along with
a host of other claims that fact-checkers dismissed in the hours after his speech. Obama referred to
private jets six times in his remarks, essentially describing the Republican position on how to decrease
rampant deficits as being "willing to compromise their kids' safety so that some corporate jet owner
continues to get a tax break."
Obama Presser, 36 Obama Lies and Deceptions. Obama held a press conference last Friday, July 15
which turned out to be a purely partisan effort to increase taxes and increase the American debt. His
speech and the answers he gave to cherry picked questions from the press was fundamentally dishonest:
in all I counted three dozen lies, deceptions and misleading statements.
Middle-Class Tax Cut Fabrication. Since this is the first time we've heard about Obama's
"biggest middle-class tax cut in history," which he supposedly signed nearly three years ago, [Glenn]
Kessler decided to follow up with the White House.
'honest' is the Obama administration? Obama frequently tells blatant falsehoods about important
matters, and then in a Clintonian fashion explains how some interpretation of his words could be made to correspond
to the truth. [For example:]
• "We have excluded lobbyists from policymaking jobs." He hasn't of course. He's
hired at least 50. But the WH's explanation: "we have turned away lobbyists for many, many positions."
• "I haven't raised taxes once." But he had already slashed middle-class tax deductions
for health-care, raised the tobacco tax, created a tanning tax, and done other tax hikes.
"Since I've Taken Office, I've Cut Your Taxes". President Obama explains why he's "going to give"
Congress "another chance" to pass measures in his jobs bill. Obama also claims that he is the tax-cutter
in the race.
The Editor says...
Any claim of reduced taxes across the board is dubious at best. Regardless of that, if the president spends
money like there's no tomorrow, that will inevitably result in future taxes, rampant inflation, or the collapse of
the currency. That appears to be Obama's plan.
Destroying Jobs in Order to Save Them.
President Barack Obama is very insistent on the need to "save American jobs." ... But instead of saving
American jobs, Obama's new corporate tax is apt to worsen what is already the highest unemployment since 1983
and make America's companies even less competitive in the global marketplace.
Obama At the Plate.
It's been clear for some time that Barack Obama knows every technique in the debater's handbook, and he must have used most
of them during the course of that first White House press conference: There was the dubious revisionist history rolled
out ever so casually, as if it were accepted fact (tax cuts don't work); the assumption that any fault lies not in us but
elsewhere ... The man can say the most unbelievable things in the most matter-of-fact way, for example, his claim that
there's "not a single pet project" in his stimulus bill.
Stimulus Is a Ruse Absent Fed Pixie Dust. It's a jobs-creation program. No, it's
investment in our future. It's a tax-relief plan. Wait, it provides assistance to consumers
hardest hit by the economic recession. It's legislation to jump-start the economy. No, it's a
recovery program. It's a life raft for state and local governments. It's a spending bill.
Which is it? Fiscal stimulus is all things to all people. In other words, it represents the
triumph of faith over reason.
The Magic of Barack
Obama. [Scroll down] Obama shamelessly says his trillion-dollar "stimulus" plan from
which taxpayers will be enslaved for generations, will cut the taxes of the 95%. "That's insane," you
might exclaim. Well, yes, if words retain their customary meaning. When Obama said in 2004 that
people don't want their tax money wasted, the meaning of the word "wasted" is the key to understanding
The One. Obama believes that "reinvesting" tax money into the welfare system is a responsible use
of government-forced contributions from the "wealthy." When Obama speaks of tax cuts, often he is
actually speaking of redistributing tax money. In Obama's world, government spending can actually
mean cutting taxes. Words take on new meaning when Obama the Great performs his magic.
Not the Economy, Stupid — It's Limbaugh. As the tax-and-spend policies of the Obama
administration extend and deepen the recession, the new administration's strategy to deal with the fallout
becomes clearer and clearer. Blame Rush Limbaugh.
The Obama Double Tax
Whammy: President Obama's proposal to provide only a 28 percent benefit for charitable
contributions by top-bracket taxpayers is part of a double whammy, since he proposes at the same time to
raise the top bracket from 35 to 39.6 percent. The double-barreled increase/decrease reflects
a two-part strategy that is much more than a simple tax increase. Less civil society and more government
power is the result.
Obama, Charity, and
Fairness. Leave it to Barack Obama to justify a tax proposal that would significantly reduce
the amounts going to charity — on grounds the proposal is necessary for "fairness."
Will Obama Seize the Radio Stations
Next? Obama started his Administration repeating the mantra that he only cares about what works, not about
ideology. That was meant to draw attention away from the fact that Obama is all about extremist ideology, not
pragmatism. That is why he is so intent on sharply raising tax rates on savings and capital and top income
earners. Nothing practical about that in promoting the economy. Just the opposite. Obama's proposed
severe global warming regulation serves extremist environmental ideology, not practical economics. Misdirection
rhetoric is another trick Obama learned from Saul Alinsky.
Obama's Tax Evasion.
[Scroll down] In the liberal imagination, the money is the government's by default, and the president and
Congress determine through the tax code how much to give back to the people. Last week Obama told an audience
in Virginia that an extension would be "giving them $100,000 for people making a million dollars or more."
But this is backwards. Low taxes don't give away the government's money. Low taxes allow individuals
to keep the money they've earned through hard work, sound investment, and good fortune.
Taxes All Wrong. Speaking to potential donors in liberal, high-tech Mountain View, Calif.,
President Obama said that low taxes are a recipe for backwardness. "Right now, we've got the lowest
tax rates we've had since the 1950s," Obama told the well-heeled crowd. "And some of the Republican
proposals would take it back — as a percentage of GDP — back to where we were back
in the 1920s. You can't have a modern industrial economy like that." These comments, while
few in number, encapsulate so many fallacies about taxes and economic growth that it's hard to know
where to begin.
Misinformation About Taxation. Warren Buffett and President Obama claim that the rich do not
pay enough taxes. They both accuse the American tax code of being unfair and coddling the rich.
Both have been pushing the same class warfare narrative for years, using current U.S. capital gains and
dividends taxation rates as evidence for their big-government progressive agenda. Both are spreading
misinformation about all the taxes corporations and individuals actually pay.
Media Myth Debunked:
Don't Pay Less Tax as Percent of Income Than Lower Earners. As President Obama trots out his new
"Buffett Rule" to raise taxes on millionaires, the media are predictably assisting his efforts by spreading
misinformation about the wealthy paying less taxes than lower wage earners as a percent of income. 2009
tax figures recently released by the Internal Revenue Service thoroughly refute this assertion.
Obama figures he can just lie.
A polite word for what President Obama is being with his claims about millionaires and taxes is "disingenuous."
A more straightforward term would be lying. Neither the Associated Press nor the Wall Street Journal called
him that yesterday, but both reported the facts that the President is grossly and willfully distorting.
lie!' Yes, he does. Last year, Obama pledged not to raise taxes of any kind on anyone earning
less than $200,000 a year. He also opposed mandating that everyone buy health insurance. Wednesday
night [9/9/2009], he demanded that mandate, which will effectively tax all who don't qualify for a subsidy.
Yes, President Obama lies. But it's for a good cause, so it's OK, right?
Who taught you to lie, call people
names, and accuse people of racism? Obama said at a health care town hall in New Hampshire that he never
claimed to be an advocate of single-payer health care. In stark contrast, during the Presidential campaign Obama
touted a single-payer health care system and in a speech to the SEIU in 2003 he supported single-payer health care.
Obama pledged during his campaign not to raise taxes on anyone earning less than $250,000 per year. However, Obama
signed into law the single largest federal excise tax increase on tobacco products. The tax on a pack of cigarettes
was raised from 39 cents a pack to 101 cents per pack, or a 159% increase. Two simple examples of the
Obama Says Health Insurance Mandate Is Not A Tax Increase.
President Barack Obama says requiring people to get health insurance and fining them if they don't would not amount to a
backhanded tax increase.
Death, Taxes and
Two Trillion Lies. President Obama promised not to raise taxes on people earning less than
$200,000 per year and vowed not to increase the national debt "by one nickel." He promised that his
nearly-trillion-dollar stimulus plan would keep the unemployment rate below 8%. (Last month, our
unemployment rate was 9.8%, the highest it's been in 26 years.) In January 2008, then-candidate
Obama promised not to negotiate behind closed doors with health care lobbyists. ... After his election,
President Obama said, "Transparency and the rule of law will be the touchstones of this presidency."
What Obama and the Media Aren't Telling You about Taxes.
Even if Barack Obama does adhere to his income tax plan, his promise that he won't raise taxes on the common man
is still a lie. A continual theme of the Barack Obama campaign has been his vow that no one making less
than $250,000 a year would get a tax increase. Now he has provided more details, pointing out that to
qualify for a tax cut you must earn less than $200,000. Then, on Tuesday, Joe Biden said during an
interview that tax breaks should go to "people who make $150,000 a year." My, my, when Obama said he
was the candidate of change, he never mentioned that it applied to figures and campaign promises.
Like a Dime Store Cowboy.
[Scroll down] The new federal tax of 62 cents per pack, to $1.01, is the largest jump since
cigarette taxes were implemented in 1951. For a couple smoking a pack a day each, that's a tax hike of
$452.60 a year. If they're overly anxious about their economic situation and puffing two packs a day
each, that's $905.20 in additional taxes per year.
Obama's Biggest Lies. President
Obama loves to make up things that are patently untrue, like every economist agrees his $800 billion
economic stimulus "has done its job," the economy "is moving in the right direction," and the Bush tax cuts
caused the trillion dollar deficits. The facts say otherwise, but he is never challenged by the news
media for his repeatedly dishonest myth-making. Here are some of his worst offenses.
Lies And Distortions Just Keep Coming. This most recent statement from the community organizer
in the White House is just typical of the stream of lies and distortions that have been flowing from this
Marxist president: "What I've got is the Republicans holding middle-class tax relief hostage because
they're insisting we've got to give tax relief to millionaires and billionaires..." He also consistently
refers to excessive government spending as "investments" and blames the $1.3 trillion Bush deficit —
created by his own Democrat Congress — for his continued increasing debt and deficit.
Big Lie On Taxes. A large and ongoing problem with our public discourse is the dishonesty and
disinformation foisted on an unsuspecting public. That's certainly the case when it comes to taxes.
President's Low-Tax Lie. In the left's endless attempt to push tax hikes on our beleaguered
economy, it's now peddling the bogus claim that tax rates are the lowest they've been in 60 years.
Deficit Plan is All Tax Hikes, No Cuts. Today [9/19/2011] President Obama's released a
deficit-reduction proposal that was actually written down on paper, the first time he has done so since
introducing his laughable 2012 budget back in February (the Senate voted it down 97 to 0). The
White House claims that the president's plan represents a "balanced approach" that, relative to its current
policy baseline, will increase the federal deficit initially by $300 billion in fiscal year 2012 (to pay
for his "jobs plan"), but will reduce deficits by $3.2 trillion over the next decade. The claim is
Obama figures he can just lie.
A polite word for what President Obama is being with his claims about millionaires and taxes is "disingenuous."
A more straightforward term would be lying. Neither the Associated Press nor the Wall Street Journal called
him that yesterday, but both reported the facts that the President is grossly and willfully distorting.
Presidential prevarication. Not that there was ever any
doubt, but the Associated Press ran the numbers on President Obama's soak-the-rich tax scheme, and guess what?
The president's a fibber. The news agency culled figures from a number of key authorities — like
the IRS and the nonpartisan Tax Policy Center -- and demonstrated conclusively that top US earners pay far
higher rates than other folks. And foot a wildly outsized portion of the federal tax tab.
says Obama's speech was class warfare. "Middle-class families shouldn't pay higher taxes than
millionaires and billionaires. That's pretty straightforward." That's what President Obama said
in his White House speech Monday on deficit reduction. It was even more straightforward than he seemed to
think. Not only should middle-class families pay less than millionaires and billionaires, but in fact
they already do pay less than millionaires and billionaires. Much less.
Obama's Biggest Lies.
So if "the rich" are not paying their fair share, Mr. President, what would that fair share be? Based on
these official facts, for you to run around the country telling America that we could have jobs and balance
the budget and solve the debt crisis you are creating if the rich would just pay their fair share of taxes
only demonstrates that you are not qualified to be President.
Obama's 2% Illusion.
President Obama has laid out the most ambitious and expensive domestic agenda since LBJ, and now all he has to
do is figure out how to pay for it. On Tuesday, he left the impression that we need merely end "tax
breaks for the wealthiest 2% of Americans," and he promised that households earning less than $250,000 won't
see their taxes increased by "one single dime." This is going to be some trick. Even the most
basic inspection of the IRS income tax statistics shows that raising taxes on the salaries, dividends and
capital gains of those making more than $250,000 can't possibly raise enough revenue to fund Mr. Obama's new
How Democrats Make Millionaires.
Even in these hard economic times, Democrats across the nation are working on plans that will turn some of you into
instant millionaires. There's only one catch. You're not actually going to be bringing in a million-dollar
income. ... To pay this ["millionaires'"] tax, you won't have to make anywhere near a million dollars. If
you make even $300,000 a year, the cash-strapped Empire State will consider you a millionaire.