|Steve Forbes: Rick Perry Will Win the White House.||Gov. Rick Perry locked and loaded for Thursday’s debate|
I’m sure that Hillbilly Bill loves the class warfare aspect of the Obama Mega Tax Hikes on America’s most productive citizens and best job creators — but even Bubba is smart enough to know that it’s not only a dumb idea to raise taxes in the middle of a huge recession, but that it won’t work either:
Former President Bill Clinton tells Newsmax that Washington should not raise taxes until the slumping economy is turned around — and says President Obama’s plan to increase taxes on the wealthy won’t solve the debt problem.
Go ahead lefties — let the attacks on Billary begin.
Even over at the Liberal-leaning The Atlantic, they priase the class warfare aspect of the bill (calling it “good politics”), but admit that it does almost nothing to reduce the deficit:
So this Buffet Rule is a great populist proposal if the president wants to score some political points, but it has little practical value. It might provide the government a little bit of additional revenue, but unless extremely aggressive, it wouldn’t make a dent in the nation’s deficit problem. To do that, you’ll need to cut entitlements and/or raise taxes much more broadly.
The thing that Liberals either don’t get or don’t want to admit is that we DO NOT HAVE A REVENUE PROBLEM in this country. Our government already steals more money from the tax payers than we should be allowing them to. What we have in this country is serious spending problem. And until we solve that problem, we’ll never be able to tax ourselves to solvency.
Of course this all just belies the original faulty premise of Obama in the first place — that America’s wealthiest aren’t “paying their fair share” of taxes. Which means that Obama is either 1) a liar, or 2) has no idea what the word fair means. Even the normally in-the-tank-for-Obama Associated Press fact checked Obama’s claim that millionaires don’t pay their fair share, and concluded that Obama is liar, liar, pants on fire:
On average, the wealthiest people in America pay a lot more taxes than the middle class or the poor, according to private and government data. They pay at a higher rate, and as a group, they contribute a much larger share of the overall taxes collected by the federal government.
The 10 percent of households with the highest incomes pay more than half of all federal taxes. They pay more than 70 percent of federal income taxes, according to the Congressional Budget Office.
This year, households making more than $1 million will pay an average of 29.1 percent of their income in federal taxes, including income taxes, payroll taxes and other taxes, according to the Tax Policy Center, a Washington think tank.
Households making between $50,000 and $75,000 will pay an average of 15 percent of their income in federal taxes.
Lower-income households will pay less. For example, households making between $40,000 and $50,000 will pay an average of 12.5 percent of their income in federal taxes. Households making between $20,000 and $30,000 will pay 5.7 percent.
Don’t you Liberals just hate it when facts get in the way of your class warfare agenda?