John Bolton

John Bolton

Thursday, September 22, 2011

Once Again: Taxing the Rich Will NOT Solve Fiscal Problem

But once again, Obama's demand for "fairness" is not about sound fiscal policy but about setting one group of Americans against another while laying the foundation for a massive socialist state!

On Tax Day, April 18th I posted "100% Tax on Rich Won't Solve Fiscal Crisis." I may be accused of repeating myself but since Obama has doubled down on the class warfare refrain it's a good idea to review the facts again:

As I said in that original post, the rich do not have enough money to pay all the bills Obama has run up. Take every penny those who make $200,000 or more per year and you barely cover Obama's deficit for one year:
Obama claims to be the class warrior on behalf of the Middle Class, but it's that income group that holds the lion's share of the money Obama needs to fund his socialist revolution.

And let's just repeat this one more time, or a hundred more times if need be: the problem is NOT that rich Americans are not paying their fair share (those who make over $113k pay 70% of income taxes)the problem is spending:

Obama's idea of "fairness" is to create a massive federal government with a never ending appetite for expansion at the expense of the entire private sector. His other poll tested phrase is "a balanced approach." But there is nothing balanced about the federal monster he wishes to create!

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