Ask any Democrat statist if they hate the wealthiest Americans, and of course they’ll deny it. It’s a lie. It’s always been a lie. And no, they don’t just hate wealthy Republicans, they hate all wealthy Americans. The hate starts at the top with Obama.
Brian Beutler at TPM points to a chart created from the Democrat statist group Citizens for Tax Justice (can you believe the names these statist groups come up with for themselves?) showing who would be affected by leaving in place all federal income tax rates as compared to what Obama proposed:
This chart justifies raising the federal income tax rates on the top 1% of all American income earners, right, while leaving everyone else’s income tax rates in place? (Although, look at the line marked “Poorest 20%” showing Obama’s plan increasing their tax rates.)
Naturally, Beutler and the clowns at CTJ don’t characterize things this way. When logic and plain English get in the way of Obama’s class warfare rhetoric, they print the rhetoric, as Beutler does:
CTJ looks at the numbers from a baseline that assumes all the Bush tax cuts will expire at the end of the year. From that perspective, Obama and the GOP are both proposing large tax cuts — Republicans just want much larger ones for the very wealthy.
They want you to believe tax rates are being cut for 99% of all American income earners, except for the fact that the rates Obama is proposing is already in place, so nothing is actually being “cut”. And if it passes (which ain’t gonna happen), the “Bush tax cuts” will then be the “Obama tax cuts” for re-election purposes, phrasing which Beutler will be happy to promote. On top of that, they want you to believe raising the tax rates of the top 1% is a return to the status quo of what their rate should be, as it was under Clinton, which is why Beutler wants us to believe an extension of the current federal income tax rates for the top 1% is also considered a “cut”. The words from these statists defies logic, but they continue on their merry way anyway.
You look at the chart Beutler provided, and the words Beutler uses, and it shows how much Democrats hate rich people. Oh, they give a temporary pass to wealthy Democrats like Warren Buffett when they send bribes campaign contributions to Democrat politicians (and whose companies reap the rewards of these bribes contributions when competition like the Keystone pipeline are put on hold) and say they want their income taxes raised. And that latter assertion is just outright hypocrisy, especially in Buffett’s case. If by an act of Satan Buffett’s federal income tax rates do go up, he’ll bury his income somewhere else to avoid paying taxes on it since he’s done it before. Buffett’s donation of some $39 billion in stock to the Gates Foundation has serious federal income tax ramifications. Since Buffett is donating unrealized stock (that is, he didn’t sell it and take the cash) instead of cash, he gives more of his wealth to the recipient (provided the value of the stock doesn’t go down), and avoids a nearly $6 billion federal income tax bill (at the 15% capital gains rate). Add to that fact that Buffett can voluntarily send in more of his money to the IRS to pay down the national debt, but he doesn’t. So Buffett is yanking everyone’s chain when he says he wants his federal income tax rate increased when he and everybody else knows he’ll never pay any more in federal taxes.
Democrats know this, but they are happy to lie to the rest of America, ignoring facts to the contrary. Another fact they ignore, lying by omission, are the effects of these kinds of tax policies. First, CNBC is reporting that the wealthy in Maryland have left that state in droves following Democrat Gov. Martin O’Malley’s tax increases. Another point made in the piece is this [emphasis mine]:
Many contend that higher taxes drive out the highly mobile rich, who can simply move to a lower-tax state or even lower-tax country. Recent data shows that a record 1,800 Americans renounces their citizenship last year.
One who is renouncing their American citizenship is Denise Rich, ex-wife of tax evader Marc Rich. You remember them, don’t you? Denise Rich used to donate towards the Algore’s 2000 Presidential campaign and Hillary Clinton’s 2000 Senate campaign; as a “reward”, the corrupt criminal Marc Rich was pardoned by President Bill Clinton via the current Attorney General, the equally corrupt Eric Holder. Despite the fact that Denise Rich was born in Massachusetts, she also claims Austrian citizenship. The result:
By dumping her U.S. passport, Rich likely will save tens of millions of dollars or more in U.S. taxes over the long haul, tax lawyers say.
I would say Rich sees the writing on the wall, just as Buffett does, and is acting accordingly. I have no doubt Obama will act to avoid paying any more in federal taxes as well.
Democrats know there will be no increase to the federal treasury if Obama’s tax increase takes effect. But they don’t let reality get in the way of “the message”, which includes getting their voters to hate “the rich” in order to pressure squishy Republicans into voting for it. Up to this point, the GOP has resisted these efforts; let’s hope they continue.
Cross-posted at Scipio the Metalcon.