How do you get us out of recession?

 

Well if your a socialist or Liberal (one in the same) you tax the evillll rich and businesses of course! Problem with that is that sooner or later the so called evil rich are going to shrug and when they do it will be the death of this once great country. (If you don’t know what I mean by statement then you need to read this ASAP and you’ll see where Chairman O is leading us with this class warfare bullshit)

Another problem with socialism is that you eventually run out of other people’s money. Perhaps Dr. Adrian Rogers said it best, to-wit:

"You cannot legislate the poor into freedom by legislating the wealthy out of freedom. What one person receives without working for, another person must work for without receiving. The government cannot give to anybody anything that the government does not first take from somebody else. When half of the people get the idea that they do not have to work because the other half is going to take care of them, and when the other half gets the idea that it does no good to work because somebody else is going to get what they work for, that my dear friend, is about the end of any nation. You cannot multiply wealth by dividing it."

 

As I often do I wandered a bit off point but here are the stats that inspired this post to begin with.

From Jake Tapper:

Obama’s Budget: Almost $1 Trillion in New Taxes Over Next 10 yrs, Starting 2011

February 26, 2009 12:00 PM

President Obama’s budget proposes $989 billion in new taxes over the course of the next 10 years, starting fiscal year 2011, most of which are tax increases on individuals.

1) On people making more than $250,000.

$338 billion – Bush tax cuts expire
$179 billion – eliminate itemized deduction
$118 billion – capital gains tax hike

Total: $636 billion/10 years

2) Businesses:

$17 billion – Reinstate Superfund taxes
$24 billion – tax carried-interest as income
$5 billion – codify "economic substance doctrine"
$61 billion – repeal LIFO
$210 billion – international enforcement, reform deferral, other tax reform
$4 billion – information reporting for rental payments
$5.3 billion – excise tax on Gulf of Mexico oil and gas
$3.4 billion – repeal expensing of tangible drilling costs
$62 million – repeal deduction for tertiary injectants
$49 million – repeal passive loss exception for working interests in oil and natural gas properties
$13 billion – repeal manufacturing tax deduction for oil and natural gas companies
$1 billion – increase to 7 years geological and geophysical amortization period for independent producers
$882 million – eliminate advanced earned income tax credit

Total: $353 billion/10 years

Advertisements

Comments are closed.

%d bloggers like this: