Tax Increase Only for the Rich? Not So Fast

It sure looks like President Obama is not only trying to dip his fingers into the pockets of the rich; he is also going after anyone who happens to fly a commercial airline.

When the leftist media highlighted some of provisions of Obama recently introduced deficit reduction plan, the focus was on how Obama plans to tax the rich. There were also mentions of how he wants to increase fees on those who fly private jets.

No one really bothered to mention that buried within his proposal was an increase on anyone who happens to fly. While it might not seem like much, Obama wants to double the “security tax” charged to all airline passengers. This fee was introduced to pay for increased security after the tragic and murderous events of 9/11.

I do realize that two dollars and fifty cents isn’t really all that much and it is Pollyanna-projected to raise $24.9 billion over ten years, but I do have a problem giving this money to the feds. Basically, this increased tax removes nearly $25 billion from the economy over the next ten years.

Think about this for a moment. If you had $2.50 in your pocket, do you think you or the government could spend it better? I think I could do a better job stimulating the economy with that $2.50. For example, I could purchase a 20 oz bottle of Pepsi (the nectar of the gods, BTW). Spending that $2.50, someone has to bottle that Pepsi, then someone has to transport that Pepsi, and then someone has to sell me that Pepsi, and finally someone has to pick up the recycling bin that I throw the empty Pepsi bottle into. In spending $2.50, I have “created or saved” four jobs. Based on my track record as compared to President Obama, I think I have done a better job at stimulating the economy.