Well, it looks like the dancing is done and the gloves have come off. President Obama has finally proposed a significant tax increase on the wealthy in an attempt to whittle away at the $14 trillion deficit.
In this proposal, which will more than likely be DOA at arrival in House, he wants to raise taxes on those making more than $1 million a year. His goal is to keep the rich from paying fewer taxes than folks in the middle class.
I wonder if he is aware that 48% of all Americans, including a sizeable percentage of the middle class, don’t even pay taxes. And I know there is no way that he is not aware that the top two percent pay more than 40 percent of all taxes received by the federal government.
His whole fair-share shtick, exposed by “Joe the Plumber” back during the campaign is beginning to wear a little thin. All he is interested is redistribution of wealth. As long as he continues to pay lip service to entitlement reform, all he is trying to do is take money for the rich and give it to the poor. And like Robin Hood did back in Sherwood Forest, he is going to use force to make this happen. While the method of taking from the rich will be different, government power vs. a bow and arrow, the result for refusal will be the same.
And you really have to wonder about the people who are providing his advice. Why would these people tell him that it will be OK to raise taxes on job providers, especially when it looks like second round of the recession is on the way?