Barack Obama is having a hard time selling the tax rate extension bill that is being worked on because all during the campaign he promised to roll back the rates on the wealthiest Americans. He made that promise dozens of times and his base took him at his word (fools) so they are quite upset that Obama has gone back on what he promised.
Obama called in Bill Clinton to help with the hard sell on the tax rate extension. Notice I did not write tax cut because there are no tax cuts, only a tax increase. While tax rates will remain the same (not cut) the tax on estates will rise 35% which is a sin. People pay taxes on the money they earn all their lives and then when they die the government taxes the money again as it is passed to heirs. A blatant assault on people.
I would say that Obama called in the cavalry but Clinton dodged the draft and Obama never served so if they saw a bunch of men in cavalry uniforms riding on horses they would think it was a remake of Brokeback Mountain. No, Obama called in the clown.
Clinton campaigned for his wife and he opposed a lot of what Obama said he would do if elected. Clinton and his wife were opposed to many of Obama’s ideas though they both think that the tax rates for the rich should increase. Democrats like to pay for things with other people’s money. Case in point, Hillary still has unpaid campaign debt two years removed from the election. She keeps sending out pleas for donations to retire the debt. They could write a check to retire the debt and never miss the money. Or, to take the tact of the liberals, they can afford it.
Clinton told fellow Democrats that this was a good deal and he told them that cutting Social Security taxes would stimulate job growth. Why is it that Democrats discuss the benefits of tax cuts like Republicans but fail to embrace that idea on a full time basis? For what its worth, I do not think it is smart to cut Social Security taxes.
The Democrats are touting this as a tax cut but it is not. It is an extension of the current rates that were cut a decade ago. If cutting the Social Security tax by 2% will stimulate job growth imagine what cutting the tax rates lower than they are now would do. They could cut the tax rates 2% across the board and cut corporate taxes in half and, provided they were not temporary measures, the jobs would begin to be created by those who actually create them.
This deal is a bad one and I hope the Democrats kill it. I think that Republicans gave up too much in order to pass the tax rate extension and they could have done much better. Remember, this is not a tax cut. It is only an extension of the current rates. If they expire there will be further economic downturn and a double dip recession. In order to stimulate growth the current rates need to be cut.
No society EVER taxed its way to prosperity.
As for the Bill Clintons of the world who think they do not pay enough in taxes, nothing is stopping them from paying more. This link is provided for those wealthy Americans who feel they do not pay enough in taxes and that higher taxes will pay off the debt. The link goes directly to the Treasury site dedicated to taking donations to retire the debt.
So Bill Clinton, Warren Buffet and all the other wealthy folks who think they should pay more should feel free to step up and put their money where their mouth is.
Of course, Clinton won’t write a check to pay off his wife’s campaign debt so what makes anyone think he actually wants to pay more to the government?
That clown wants others to pay more and that is why he wants tax rates for the wealthy to increase. He, like all truly wealthy people, will find a way to avoid paying the taxes.
The people who are only considered wealthy in the twisted minds of those in the Democrat party will end up paying more.
Of course, government could do what one innovative town has. Steal money from people.
Cave Canem!
Never surrender, never submit.
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