Obama Sees Benefit of not Taxing the Rich

Barack Obama is cut from the same cloth as many Democrats before him. Tax and spend, and then tax and spend some more. Democrats always talk about taxing the rich as if that would solve our problems and as if the Rich don’t pay enough in taxes as it is. Whenever tax cuts are mentioned Democrats recoil like Dracula exposed to a Cross. Tax cuts are always bad unless the have a candidate running in a conservative region. Then they talk about how wonderful tax cuts are. Of course, to a Democrat, tax cuts are always for the rich. This is partially true because the rich pay most of the taxes in this country. However, the middle class made out better under the last tax cuts than the rich did. I don’t include the poor because they pay little, if any, taxes (why they did not get a rebate when the president cut taxes).

Democrats let the cat out of the bag recently when they discussed the “rebate” checks. They all talked about how the economy would be stimulated and that is what they named the bipartisan venture; The Economic Stimulus Bill. Democrats were forced to admit that allowing Americans to keep more of their money causes them to spend more and is better for the economy. The problem is, they gave the money to people who pay little or no taxes. Notice I say gave. In some cases they returned the money to people who paid taxes but a lot of people who pay absolutely nothing in taxes received tax “rebates” from money paid in by others. The Democrats will admit that lower taxes (that is what an economic stimulus is, after all) are good for the economy when it is an election year but they never quite seem to understand that it is better to take less from people than to take it and give some back when an election is not around the corner.

Barack Obama has been talking about how he will end Bush’s tax cuts “for the rich” and how he will tax people who make more than $250,000 a year. He would also lower taxes on the middle class, a group that shoulders a smaller part of the country’s burden than those making more. Obama is full of taxes. Tax this, tax that but in all of it, he admitted that it might not be wise to tax the rich after all:

Among Obama’s other proposals: raising the tax on capital gains and qualified dividends. However, Obama has raised the possibility of deferring some of his tax hikes on the wealthy given the ailing economy. My Way News

So Barry O Bam Bam understands that taxing the wealthy is not a great idea in a difficult economy. He must understand that doing so would make the economic problems much worse because it is the money of the wealthy that provides jobs and business opportunities. It is also the wealthy spending their money that helps stimulate the economy and when they are taxed more they spend less or, like members of Congress, they look for more tax free investments. If taxing them during down times is a cause for concern then why would it be OK to tax them in up times? Higher taxes result in economic troubles and no country ever taxed its way to prosperity. The way to make things better is for Congress to eliminate wasteful spending and there is a lot of that to eliminate.

Of course, Barry O Bam Bam can’t exactly do that since he is proposing trillions in additional wasteful spending. I am willing to bet he will not defer his plans to spend because of the ailing economy.

Big Dog

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4 Responses to “Obama Sees Benefit of not Taxing the Rich”

  1. Lucinda says:

    Isn’t it true that 90% of Americans will actually have lower taxes under Obama in comparison to McCain? I believe it’s something like anyone who makes less than 120K will have lower taxes with President Obama. I think that covers most folks, don’t it? I personally don’t think rich folks are paying their fair share under the current system. I think Obama’s tax system will be more fair than Bush/McCain’s.

    Lucindas last blog post..Look Good on Your Vacation in Just 4 Weeks!

  2. Big Dog says:

    No Lucinda that is not true. Most people in the 120k level and below pay less in taxes now then when Bush took office. The rich, who you think do not pay their fair share, pay almost all the taxes in this country. The bottom 50% of taxpayers only pay 3% of the nation’s taxes.

    I have written on this and have provided links to the government’s sites that display all of this. The rich pay nearly all the taxes. People need to come to terms with the facts rather than emotion.

    Search this site for taxes and you should find the articles.

  3. Kayla S says:

    Big Dog – but what about Lucinda’s point that 90% of Americans will have lower taxes under Obama in Comparison to McCain. Do you expect that 90% of Americans will vote for higher taxes on themselves so that the rich will be taxed less? I know I make less than 120K a year and I would like lower taxes – I will get the lowest taxes with Obama – I’ve looked at the numbers. Obama’s tax plan means lower taxes for more people. McCain’s plan only benefits the very rich.

    Kayla Ss last blog post..Low Carb Diets

  4. Big Dog says:

    You will not have lower taxes under Obambi. He will allow the Bush tax cuts to expire which will raise everyone’s taxes. The Bush tax cuts benefited everyone despite what you have been told. The government statistics show this just as they show those wage earners in the lower 50% pay 3% of the taxes for this nation.

    Everyone wants lower taxes. How fair is it that the top 50% pays 97% of the taxes but uses the least in government benefits?

    Everyone should pay an equal share of his income regardless of how much they make. Democrats always raise taxes and those raises are on everyone.

    It is a historical fact just as it is a fact that the definition of rich will be smaller incomes.