Quote:
Originally Posted by spence
Didn't you read, mentioning Bush is against the rules. He has nothing to do with the present situation. It's all due to a fundamental shift in our countries direction toward socialism.
Besides, Bush had 9/11 and that changed everything.
-spence
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This thread is a commentary on what
Obama IS doing. Not the current situation and not the past. The current budget has the potential to further burden this nation, not only in debt, but it increases the burden on the FEW who are carrying all the weight. Spence will tell you that all Obama is proposing is the same tax rates that were under the Clinton admin, but that is misleading. Tax rates are not the only factor in "tax burden". Obama is also proposing reductions in itemized deductions (this is BEFORE) the tax rate is applied. So, some people that may have a lower taxable income as a result of the deductions, will no longer qualify, as their taxable income has increased! He is also lowering the amounts of people who barely pay any taxes. Once again, benefits those who "need" vs. those who "supply". This widening gap will soon put the taxpayers of this country in the MINORITY. Those who dont pay, will have more votes that those who DO pay taxes! Call it what you will, but he is creating a foundation for a society that will no benefit hard work.
Now - take into consideration all his social programs - health and education. Tell me - will any of the "wealthy" bearing the tax burden receive any benefits from these programs? No, but the increase in population receiving health care and higher education, will increase the DEMAND for these. As a result, the PRICES WILL GO UP, and who will pay these higher prices? The so called wealthy, who are already bearing the higher tax burden.
excerpt from the commentary:
Along with massive hikes in spending, this budget also implements the largest tax increase in U.S. history -- $1.5 trillion in new taxes over the next 10 years. For small business people, taxes are going to go up dramatically as a result of this budget; high-income people who donate to charity will face higher taxes, a change which will likely reduce charitable contributions; and anyone who turns on their lights in the morning will face higher taxes.
If the president gets what he wants in his cap and trade proposal, everybody who pays an electric bill or other energy bills will pay an average of $3,000 more in taxes a year for their energy needs. Yet none of these taxes will go to reduce the deficit. Instead, they will go to ramp up the size of government.