No, this is not Dan resuming his old moniker, but our first guest post in a while. We’re giving a potential new GayPatriot a test run on our blog. To be fair to this Midwestern man, I am cutting and pasting the post exactly as he sent it to me, without any edits. These are his words, not mine.
For the first time since March, Obama and his faithful sidekick, TOTUS, gave a press conference today where he opened with remarks on the economy. After he blamed Bush for the 697th time this month, he launched another round of class warfare. This time, it’s the kids versus corporate jets Obama must have gotten word that Americans are getting tired of his demagogy of the millionaires and billionaires – so corporate jet owners are apparently the next victims. Just at the moment when both Republicans and Democrats are attempting to negotiate a debt deal, our first post-partisan president thought it was just the right time to reiterate his “us vs. them” agenda.
Obama claimed that Democrats had compromised in the debt talks by agreeing to billions of dollars in spending cuts. He blamed Republicans for refusing to agree to eliminate tax breaks for corporate jet owners and oil companies, while completely pretending that he didn’t know it was his own 2009 stimulus package that granted those breaks in the first place. Of course, I can hardly fault him for that; after all, nobody read the bill. Obama also said he would not engage in scare tactics, but went right ahead and forgot he said that when he set what I believe will be the tone for his re-election campaign:
“If we do not have revenues, that means there are a bunch of kids out there who do not have college scholarships,” Obama said. “[It] might compromise the National Weather Services. It means we might not be funding critical medical research. It means food inspection might be compromised. I’ve said to Republican leaders, ‘You go talk to your constituents and ask them, “Are you willing to compromise your kids’ safety so some corporate-jet owner can get a tax break?”
In other words, owners of major companies getting a tax break will cause kids to be punished, tornadoes to occur without any warning, and toxic food to be served at your neighborhood grocery store. Americans know better. Businesses seek tax breaks to make profit from the tangled regulations that the government has imposed. If Obama gets his way, the only groups that will be “punished” are the employees that work for the businesses themselves.
This idea that the “rich” should “pay a little more” has been a dominant theme of all of Obama’s speeches on the budget. It is a common misconception that raising taxes on the top 2%, 5%, or 10% of taxpayers will close the deficit. When in reality, the big money comes from the middle class – the same class Obama says that Republicans are fighting against:
“The top 1% of taxpayers—those with salaries, dividends and capital gains roughly above about $380,000—paid 38% of taxes. But assume that tax policy confiscated all the taxable income of all the “millionaires and billionaires” Mr. Obama singled out. That yields merely about $938 billion, which is sand on the beach amid the $4 trillion White House budget, a $1.65 trillion deficit, and spending at 25% as a share of the economy, a post-World War II record.
Say we take it up to the top 10%, or everyone with income over $114,000, including joint filers. That’s five times Mr. Obama’s 2% promise. The IRS data are broken down at $100,000, yet taxing all income above that level throws up only $3.4 trillion. And remember, the top 10% already pay 69% of all total income taxes, while the top 5% pay more than all of the other 95%.”
In 2008, the total taxable income from all taxpayers combined was $5.65 trillion – most of that came from the middle class. The millionaires and billionaires contributed $938 billion of that $5.65 trillion. The entire taxable income of every taxpayer in the United States would barely cover the amount of money President Obama has spent in two years. If you consider the total unfunded liabilities that President Obama has committed which is over $60 trillion – you could tax everyone until they had nothing left to give and you couldn’t cover the amount government spending.
Perhaps the reason Republicans are refusing to budge on tax cuts for the wealthy is because it doesn’t solve our debt crisis. You can expect Obama to continue to make these bizarre attacks against corporate jet owners because it disguises people from figuring out whom Obama secretly assaults: the middle class.