Obama's Budget has $1.9 Trillion in Tax Increases

Change we can believe in, huh?

The Obama administration wants to increase taxes on Americans earning more than $200,000 by almost $970 billion over the next decade and take in an additional $400 billion from businesses even as it retooled a proposed crackdown on international tax-avoidance techniques.

The budget released today would reinstate 10-year-old income tax rates of 36 percent and 39.6 percent for single Americans earning more than $200,000 and joint filers who make more than $250,000 as part of a broad $1.9 trillion tax increase proposal. It proposes to eliminate preferences for oil and gas companies, life-insurance products, executives of investment partnerships and U.S.-based companies that operate overseas.

This, of course, would be more taxes on “the rich”. Now, I know that some of you might think of “the rich” as being people like, well, President Obama, Senators like Kerry and Rockefeller, zillionaire leftists like George Soros and such. Well, you’re wrong – they are not part of “the rich”. “The rich” is a very select group of people – those who earn $200,000.00 or more per year. If you have millions or even billions of dollars you’re sitting on, you’re not “the rich”…if you’re a plumbing contractor who grosses $500,000.00 per year by the sweat of your brow, congratulations – you’re “the rich”.

What Obama is really taxing is the middle class – because that is where income taxes can be levied. The real rich don’t make a lot of income – what they make is hidden away in various funds and used by various dodges which allow them to live fabulous lives while paying as little as possible in income taxes. And, of course, the vast wealth they have is mostly untaxed by the Federal government. But Obama has to feed the maw of government and pretend he’s working towards fiscal discipline.

He could have proposed a tax on wealth – say, asking Senator Kerry to sell one of his mansions in order to pay a “you have a lot of mansions, Senator” tax. But that wouldn’t work. That would cause opposition from liberals, like Kerry, who are always taking about “the rich” having to pay their “fair share”, but who never seem willing to sacrifice their own wealth. Wealthy people don’t like to be taxed – its such a bother, ya know? Better to tax the middle class.

And thus is laid bare the dishonesty of the left – they are the party of the real rich, and they protect their own. While leftist rank-and-file people are spoon fed anti-capitalist propaganda, they never realize that what they’re doing is punishing the hard working people who get things done, while the idle rich run the liberal show and never pay the piper.

I’d ask them to wake up and smell the coffee, but I think their stupor has gone on too long.

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