I look at the news this morning, and what do I see? This.
To sum up: the President wants to raise taxes. This is not a new strategy for liberals. But there are several points about which I am curious.
1. The article says, “The plan Obama is set to announce includes more than $2 trillion in entitlement cuts and tax increases over the next decade.” I’m ok with entitlement cuts, but this is like saying, I am going to start a budget that includes $1000 per month in more income and less expenses over the next decade. My problem with this statement is that it is hard to quantify.
2. My biggest problem with the President’s plan is a phrase in the following sentence, “Officials said the president would issue a veto threat for any bill that cuts Medicare “without asking the wealthiest Americans and biggest corporations to pay their fair share.”
The phrase that gets me is “to pay their fair share.” Maybe it’s because I just finished reading “Atlas Shrugged,” or maybe it’s because I have no money, but I think it’s a tremendously bad idea to raise taxes on the most productive members of our society. “Hey! Congratulations on working hard and getting ahead! You have sacrificed for years and years in order to start your own business and it is now successful! Now we’re going to take your money.
This is a problem I have as well. You’ve all heard it, “The more you make, the more they take.” It’s when you work harder, and make less. You get a diminishing return on your time invested. This causes people to say, “I COULD work overtime, but they are just going to take it all away in taxes. ”
I want this recession to end. I want unemployed people to get jobs so they can support their families. I want the economy to improve. All of this isn’t going to happen if the people in our society with the means to invest in new businesses and ventures are forced to hand that money over to the government. The government doesn’t create jobs: people with money do.
So Democrats? Stop trying to keep people unemployed and poor. KTHXBAI.
TOTALLY agree! Jim works 100 hours in a pay period (2 weeks). WHY? Because we can’t get ahead. We don’t live above our means. In fact, we barely have any bills. But the bills keep getting bigger and bigger because the businesses keep charging more and more to keep afloat. It’s INSANE! And I’m working too, so it’s almost like we have 3 incomes, and we STILL aren’t getting ahead! We barely tread water! You would think with all this cash flow coming into our home that we would be rich! But like you said, the more you make, the more the government takes. It’s true!!!
Some suggested reading – re “taxing the rich”.