Moments after the Senate passed the largest debt ceiling increase in history, up to $2.4 trillion, President Barack Obama said tax increases should accompany any future spending cuts, adding that “everyone is going to have to chip in.”
On the surface that seems fair. But is what he said true?
It really does not matter who you are. A movie star, a CEO of a major corporation, or you're just trying to maintain a family household. All of us have to live within are means. If you are a Democrat or a Republican we all have to live on a budget. How can anyone in Congress be against a balanced budget amendment? If you're against it then you must be for reckless spending. Congress's mantra is... we want to spend our way into oblivion. An example is the convenient way our government looks after its own interest. If you or I print money in our basement its called counterfeiting. When the government does it its called "Quantitative Easing".
If I hear another Democrat talk about the "rich paying their fair share" or "shared sacrifice" I'm going to puke. How many times have you heard Obama, Reid, Pelosi etc, chastise "millionaires and billionaires"?
Oh...lets not forget those evil "corporate jet owners" like they are the reason we are $14 trillion in debt. If the Demorats can establish class welfare, shift the onus elsewhere, there is no end to the things they can do. Or so they think.
The latest data shows that a big portion of the federal income tax burden is shouldered by a small group of the very richest Americans while 47% of Americans pay no income tax whatsoever. Shouldn't every American have some skin in the game? The wealthiest 1 percent of the population earn 19 percent of the income but pay 37 percent of the income tax. The top 10 percent pay 68 percent of the tab. Meanwhile, the bottom 50 percent—those below the median income level—now earn 13 percent of the income but pay just 3 percent of the taxes. These are proportions of the income tax alone and don’t include payroll taxes for Social Security and Medicare.
The government takes in about $200 billion dollars a month in tax revenue. That's $2.4 trillion a year! This is what they take in. This is what they should work with. We can't figure out how to live on $2.4 trillion a year without deficit spending?
Biden (among others) went as far as to call the Teapartiers "terrorists". In other words they're just like the animals that flew planes into the twin towers. He later apologized but the die had been cast. Liberals use their influence to deflect the blame for the debt crisis on the Teapartiers. But they didn't spend the money; the government did.
Let me ask you something. Do you know anyone, personally, who got a job because of Obama's 1 trillion dollar stimulus plan?
And so it goes...
I once read a story where a young woman was addicted to cocaine. She was in a public bathroom stall doing it when she spilled some on the toilet seat. She got down on her hands and knees and licked it off. Only then did she realize she hit rock bottom and began to seek help.
Maybe we need to lose our triple- A credit rating in order to get better?
