When Will Obama Face Reality?

[red states rule]

When we tax the rich, the price of goods and services increase to cover the expense

Which in reality taxes everyone

Obama, Reid, and Pelosi do not have a clue about basic economics, but they are going to save America through their old tired and tested failures of tax and spend programs.

They don't know HOW to solve any problems except to throw a hell of a lot of money at it and hope it goes away.



Obama Needs a 'Not To Do' List The global economic crisis is exposing the president's preoccupations


snip

Put away Ponzi welfarism. The day is gone when politicians could have hoped to have begun and ended their careers before the public ever faced the implosion of redistribution programs that depend on the workforce growing faster than the retired population.

Put away the idea that more government control is the cure for health care. We already bribe, through supremely asinine tax policy, the most affluent, capable consumers on the planet not to use their smarts to make sure the system returns value for money.

Let's fix this -- by eliminating the tax subsidy for employer-provided health insurance. Then it might actually become economically feasible to subsidize health care for the needy.

Put away class warfare tax politics: Only a flatter, less distorting tax code is compatible with the kind of growth needed to get us out of the debt mess without inflation.

We already levy punitive tax rates on bank deposits, at a time when households need to build up savings and banks need deposits. Now Mr. Obama wants to raise taxes on small business, on investment, and on the incomes of the most productive job creators. Is he crazy?

Like a subprime borrower who hasn't gotten the news yet, now is not the time to go deeper into debt to build a third Jacuzzi. Our politicians need to address an accumulation of past excesses before sponsoring new ones.

http://online.wsj.com/article/SB123552068199964531.html

[Classact]

The new New Deal will be financed by the rich but rich will be redefined to equal "those who work"... Tax the rich and tax everyone else through Cap in Trade... those dirty fossile fuel users will pay the government for carbon credits and then pass the additional costs related to carbon credits to the customers. Bye bye coal... bye bye coal miner Democrats... one day soon everyone will come out of this used car salesmans silver tongue pitch so see the sawdust in their tranny!

[red states rule]

The new New Deal will be financed by the rich but rich will be redefined to equal "those who work"... Tax the rich and tax everyone else through Cap in Trade... those dirty fossile fuel users will pay the government for carbon credits and then pass the additional costs related to carbon credits to the customers. Bye bye coal... bye bye coal miner Democrats... one day soon everyone will come out of this used car salesmans silver tongue pitch so see the sawdust in their tranny!

and allow me to toss in this fact about who reaaly pays the taxes in America

Number of Americans Paying Zero Federal Income Tax Grows to 43.4 Million

by Scott A. Hodge


Fiscal Fact No. 54

With the April 17th deadline for federal tax returns looming, Americans are sharply aware of their federal income tax liabilities. However, one aspect of federal income taxes they may not be aware of is the growing number of Americans who pay zero federal income tax after taking advantage of deductions and credits.

During 2006, Tax Foundation economists estimate that roughly 43.4 million tax returns, representing 91 million individuals, will face a zero or negative tax liability. That's out of a total of 136 million federal tax returns that will be filed. Adding to this figure the 15 million households and individuals who file no tax return at all, roughly 121 million Americans—or 41 percent of the U.S. population—will be completely outside the federal income tax system in 2006.1 This total includes those who pay no tax, and those who pay some tax upfront and are later refunded the full amount of the tax paid or more.

Who Are the Non-Payers?
Using IRS data, we are able to create a profile of these individuals who are outside the federal income tax system. Those who file as single or head-of-household are much more likely to be non-payers. One-third of single filers pay nothing in federal income taxes, and almost two-thirds of those who file as head of household pay nothing. In contrast, just 22 percent of married filers are non-payers.

Why do many single filers face zero tax liability? One reason is that single filers tend to be younger and earn lower incomes than married filers—especially single parents who file as head-of-household. As a result, married taxpayers pay roughly 75 percent of all federal income taxes, despite filing only 40 percent of returns.

http://www.taxfoundation.org/research/show/1410.html