DIVIDER-N-CHIEF IS PULLING OUT ALL THE STOPS, FOLKS
“Middle-class families shouldn’t pay higher taxes than millionaires and billionaires.”
“We can’t afford these special lower rates for the wealthy.”
“It is only right we ask everyone to pay their fair share.”
“This is not class warfare, it is math.”
Let’s just get to the bottom line: Barack Obama is a liar. What’s more, he knows he lying. Worse, he’s lying solely for the purpose of fanning the flames of class warfare — and he knows damn well that the “less than informed” minions to whom he’s playing not only believe every word of class warfare rhetoric that comes out of his disingenuous mouth, but also that this pathetic charade is his only chance in hell of hanging onto his miserable presidency — hanging on so he can continue his “progressive” efforts to destroy America.
Whether it be through obfuscation, misleading statements or outright lies, Obama continues to purposely mislead the public; he has taken the American economy to the brink of disaster, and eroded this country’s economic standing in the world — all for the purpose of turning the Haves against the Have-Nots.
Setting aside the fact that the president’s Barney Fife-inspired campaign speech Monday was little more than a rallying cry designed to demonstrate to left-wingers that he still has his bullet in his pocket, let’s focus on the facts — and the lack thereof — of several of his statements:
“Middle-class families shouldn’t pay higher taxes than millionaires and billionaires.” Of coursed they shouldn’t, Mr. President, and guess what? They don’t. According to the Tax Policy Center, (and the IRS as well), households making more than $1 million this year will pay an average of 29.1% of their income in federal taxes — including income taxes and payroll taxes, while hhouseholds making between $50,000 and $75,000 will pay 15% of their income in federal taxes. Guess what else, Mr. President? Households making between $40,000 and $50,000 will pay an average of 12.5% of their income in taxes, while households making between $20,000 and $30,000 will pay only 5.7%. Want a mulligan on this one?
“We can’t afford these special lower rates for the wealthy.” This ridiculous statement brings us to the issue at hand, as it relates to much of Obama’s misleading – and dishonest — campaign rhetoric about “loopholes,” “special rates for the wealthy,” and Warren Buffet’s secretary. As Paul Harvey used to say, Mr. President, let’s discuss “the rest of the story,” shall we?
Obama conveniently fails to mention that he is comparing apples and oranges whenever he purposely misleads voters with this disingenuous nonsense; he’s comparing long-term capital-gains tax rates with ordinary income tax rates. Every taxpayer in America (as opposed to millionaires and billionaires only) who is in the 25% tax bracket and above pays long-term capital-gains tax at a rate of 15%, (including Warren Buffett’s secretary.), while people below the 25% bracket pay ZERO long-term capital-gains taxes.
So while our purposely misleading president is correct in the fact that 15% is less than 35%, (the top ordinary income tax bracket), he fails to tell his minions that everyone pays these “special lower rates” (or ZERO) on long-term gains. Moreover, most of us make capital investments with after-tax money, (money that has already been taxed as ordinary income) which subjects these investment holdings to double -and often triple- taxation. (And yes, tens of millions of ordinary Americans experience capital gains or capital gains distributions every year.)
“It is only right we ask everyone to pay their fair share.” While this is, in theory, a correct statement; Obama doesn’t mean a word of it. Everyone, Mr. President? “Everyone,” including the bottom 48% of wage earners who not only pay no income tax at all, but many of whom receive tax “refunds?” Are these people paying their “fair share” Mr. President? Secondly, exactly whose job is it to determine what a “fair share” is in the first place? A socialist president who believes in a cradle-to-grave nanny state, where it is the responsibility of evil millionaires, billionaires and larger corporations to provide for those who will not provide for themselves? Let’s review:
According to the Tax Foundation – and other sources, as well:
The top 1% earn 20% of adjusted gross income, but pay 38.% of all federal individual income taxes. Is that “fair,” Mr. President?
The top 5% earn 35% of adjusted gross income, but pay 60% of all federal individual income taxes. Is this “fair” too?
The top 5% of taxpayers pay far more taxes than the bottom 95%. Is this “fair” as well, Mr. President”
“This is not class warfare, it is math.” Really, Mr. President? Math? What kind of math? Socialist welfare-state math? European math? Saul Alinksy math? If the top 5% of wage earners paying 60% of total income taxes — more than the bottom 95% combined — isn’t a “fair share,” how much is their “fair share”, Mr. President? When is enough, enough?
It’s not math, Mr. President, and you know it; it’s class warfare at it’s worst. It’s what you do best, sir.