Posts Tagged ‘raise taxes’

Senate Democrats Agree With Obama To Raise Taxes On 1.2 Million Small Businesses And Destroy 700,000 More Jobs. Compare Their Failure To Reagan.

July 28, 2012

This is Obama’s “If you’ve got a business, you didn’t build that.  Somebody else made that happen” as it matriculates into our tax policy.

You need to go back and understand Obama’s argument.  What he was very clearly saying is that government basically built everything that allows businesses to succeed.  And therefore businesses – which owe their success to government – should pay more taxes.

As I’ve pointed out, if Government (with a big ‘G’ because liberals view Government as a replacement for God and you owe your God) is responsible for the success of business, it is also responsible for the “success” of mass murderer James Holmes and of virtually every single criminal.  Obama told us that Government gave us teachers.  Well, James Holmes went to a public school and had government teachers.  Obama told us that Government gave us roads.  Well, not only did James Holmes use those roads, but he used them to drive to his massacre site at the theater.  Obama told us that Government gave us loan and grant programs.  Well, James Holmes got a big government grant for his studies.  Obama told us that Government gave us the Internet.  And James Holmes used the Internet to buy his massive arsenal with his government grant

Government built the roads that murderers used en route to their murders.  Government built the schools that rapists used on their way to becoming rapists.  You can’t take these things that EVERYBODY benefits from and which only exist in the first place because TAXPAYERS built them for everybody to benefit from and then claim that they in any way, shape or form account for the success of businesses who got where they got by their hard work.  The argument that Obama offered and which the Democrat Party accepted lock, stock and barrel suffers from vicious infinite regress: Government does things, which justifies more govenment.  More government does even more things, which justifies still MORE government.  Still MORE government does still more things, which justifies yet more government.  And so on ad naseum.

The vicious regress is one of the most glaringly obvious results of poor thinking in logic and philosophy; and yet a vicious infinite regress literally forms the epicenter of the entire liberal worldview.

Anyone but a FOOL ought to immediately understand that the things that Government has provided are NOT the reason that business owners succeed.  Because not only criminals but every slacker on welfare ALSO uses schools and roads and government loans and the Internet.  The reason that businesses succeed is because successful business owners had dreams, worked hard to fulfill those dreams, had good ideas, demonstrated individual responsibility and took individual initiative, made difficult choices, saved and invested while others spent, etc.

And Barack Obama as an individual and the Democrat Party as a political group are nakedly evil for trying to falsely claim credit for the success of business and saying to them, “You OWE us for your success.”  But regardless of the smokescreens and lies they now blather in front of every microphone, the ugly, diseased cat is out of the bag.  When Government says, “We should be able to redistribute your wealth because we made all of your success possible, they end up punishing wealth creation and success and undermining the economy of everyone.  Except the slackers.

Morning Bell: Senate Votes to Raise Taxes on Small Businesses
Amy Payne
July 26, 2012 at 8:57 am

Yesterday, the Senate narrowly voted (51-48) to raise taxes on 1.2 million small businesses, which will likely kill more than 700,000 jobs at a time when nearly 13 million Americans are out of work. Senators Joe Lieberman (I-CT) and Jim Webb (D-VA) joined all Republicans in bipartisan opposition to the tax hike.

This is President Obama’s economic plan. This is what he asked Congress to do. And he recently told a fundraising crowd that his economic plan has been working.

“Just like we’ve tried [Republicans’] plan, we tried our plan—and it worked,” he said.

But Obama’s Treasury Secretary, Timothy Geithner, said yesterday that “the economy is not growing fast enough,” acknowledging that “unemployment is very high.” “The institutions with authority should be doing everything they can to try to make economic growth stronger,” he said.

The President’s plan, now endorsed by the Democratic majority in the Senate, has little chance of going anywhere in the House of Representatives. But it has put the 51 Senators who want to raise taxes on record.

Perhaps the biggest lie in the tax debate is that this vote affects only “the rich.” That’s simply not true. Many small businesses, known as flow-through businesses, pay their taxes through the individual income tax. Ernst and Young estimates that these types of businesses “employ 54% of the private sector work force.” This tax hike squarely hits 1.2 million of these businesses that hire workers and have incomes above $200,000.

Rather than punishing just “the rich,” as Heritage’s Curtis Dubay notes, “By pinpointing his tax increase on incomes over $200,000, President Obama has maximized the detrimental impact that his tax increase would have on job creation.”

The Ernst and Young study on the impact of this tax hike showed that it could kill more than 700,000 jobs. This isn’t surprising, since the businesses it targets are some of the country’s most robust job creators. But it is surprising that a majority of the Senate would go along with this plan when the country is suffering from 8.2 percent unemployment.

As if that weren’t enough, the Senate’s actions would also raise the death tax from 35 percent to 55 percent. This confiscatory rate would hit small businesses and family farms exceptionally hard. Dubay explains:

The death tax is often portrayed as a tax that only rich heirs pay. In reality, the death tax hits family-owned businesses hardest. These businesses are valuable on paper because they have many assets that they need to make and sell their products. But the businesses’ book values are not representative of the families’ liquid assets. When a family member passes on, these families often have to sell all or part of the business to raise the cash to pay the death tax. This slows the growth of these businesses and in some cases forces them to lay off existing workers.

The Senate’s vote means we are no closer to preventing Taxmageddon, the nearly $500 billion tax increase scheduled to hit Americans on January 1. It is difficult to imagine the economy sustaining such a blow. Families will be hit with an average tax increase of more than $4,100 next year if Congress allows this to go forward. Instead of preventing this calamity, the Senate voted to raise taxes. It simply boggles the mind.

See our infographic: How Will Taxmageddon Impact You?

Where are your heads, Democrats???

Obama loves to pit himself against Bush and pass himself off as the “anti-Bush.” But in fact in many ways Obama is just LIKE Bush.  Bush ended his presidency with the philosophy that, “I’ve abandoned free market principles to save the free market system.”  That was how Obama BEGAN his presidency and he has been doggedly determined to continue to abandon more and more free market principles with every single passing day of his regime.

Obama isn’t the “anti-Bush”; he’s the anti-REAGAN.

Fill THAT one in the blank of Obama’s dishonest statement: “Just like we tried REAGAN’S plan, we tried our plan – and our plan worked.”

Gallup – the most widely recognized polling organization in America – points out that in the minds of the American people Ronald Wilson Reagan as the greatest American president who ever lived.  Reagan ranks five points above Abraham Lincoln who is #2 on the list.

We tried Reagan’s plan and it didn’t work?  Seriously, Obama?  You LIAR!

Obama has dishonestly attempted to harness Reagan’s mandate.  But again, he is a LIAR.  Obama is the ANTI-Reagan.

I rightly stated back in 2009 that Barack Obama would be an abject FAILURE which he has surely been.  And I pointed out in that article how Ronald Reagan saved America.  And I pointed out how Barack Obama – the anti-Reagan – would undo everything that Reagan had achieved that made him the greatest president in American history.  As I state, “Reagan’s policies set the trajectory for growth that would last for 20 years.”

When Bill Clinton finally realized that his connection with liberalism had made the first two years of his presidency an abject failure – which resulted in the largest Republican landslide in American history surpassed only by the asskicking Republicans gave Obama in 2010 – he categorically stated, “The era of big government is over.”  And he began to govern less like a liberal and more like a Reagan with the help of a Republican dominated House and Senate.  And America thrived under Republican policies.  Obama deceitfully wants to claim that Bill Clinton raised taxes; BILL CLINTON CUT TAXES FAR MORE THAN HE RAISED THEM.  It wasn’t until Clinton CUT the capital gains tax in addition to many other tax reforms that the economy truly took off and the budget deficit shrank.

You HAVE to allow the people who risk and work and invest to keep more of what they earn or you inevitably end up with LESS growth, less production, fewer jobs.  It is a simple fact of history that has been documented over and over again.

Obama has taken every good thing that worked for Republicans and Democrats alike and ended it.  He has taken every bad thing that has failed and expanded it.

Under Barack Obama, American labor participation – the measure of the percentage of Americans have been abandoned by the US economy – is at its lowest levels in over THIRTY YEARS since Reagan saved America.

We’re going backward while Obama demagogues and exploits the small business owners who built this country far more than bigger “Government” – which itself was an anathema to the founding fathers who wrote our Constitution – ever did.

Even Obama himself said “You don’t raise taxes in a recession.”  And it is by only the most technical definitions that America is NOT in a recession right now.  Growth is near ZERO and the growth that we have is diminishing to the point that economists are increasingly worried about the “substantial” likelihood of a double-dip recession.  You DON’T increase the taxes on job creators and expect more jobs.

Pull your heads out of your rear ends, Democrats.  And vote this turd out of office.  Obama has now documented with his demagogic policies that he will NEVER understand how the US economy works.

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If Raising Taxes Would Get America Out Of Trouble, WHY IS THE EURO ZONE IN SUCH DEEP SH!T???

August 8, 2011

A friend of mine (we’ve corresponded enough and seen the world the same way enough that I believe “friend” applies) from Sweden commented on my article, “Barack Obama, America’s First Downgraded President.”  In part of his comment, he said of his native Europe:

The leftwing liberal press in Sweden is doing everything to blame the crisis in the U.S. on the Tea Party movement and on the Conservatives’ refusal to raise taxes. As if the Europe’s high taxes are of any help in the Euro zone?

Left Liberal reforms require increased taxes, which then are followed by new leftwing liberal reforms that require even higher taxes, and so on. When the politicians begin to solve problems with tax increases, there will be no stopping as more and more people switch from financing their wellbeing by themselves, to expecting the state to offer it for free or almost free.

Obama and his supporters are leftwing liberals who want to transform the American system to a European kind of model, which means high taxes, big public sector and many more living on welfare and on the state’s expense. I say – do never go along with it, it does not solve any problems with overspending and using taxpayers money without any respect for its actual value.

In those European countries, where it is not possible to charge high taxes from the population, politicians “solve” it by taking large loans. You could say that the socialist and leftwing liberal politicians buy their positions of power with borrowed money. Now it is no longer possible. Europe is full of Obamas and Pelosis, and these have not only ruined their own countries but are about to ruin even Germany, Holland and probably also us in Sweden.

Europe taxes the bejeezus out of EVERYTHING:  “Take a look at the current European tax rates below which range from 59.6% to 83%. The European VAT tax (Government Sales Tax) ranges from 16% to 25%.”  And that’s just for starters; they also pay at least TWICE as much on gasoline and diesel because they massively tax energy, too.  And of course there are just ALL KINDS of other taxes and regulations that amount to massive hidden taxes in the Eurozone.

Democrats are out there just flat out rabidly DEMONIZING Republicans and particularly Tea Party caucus members as “terrorists” because we wouldn’t hike taxes.  In the article my friend Penumbra added his own insights to, I had said the following:

Obama and the Democrats are like addicts, blaming everybody but themselves for their failures and the chaos and disaster those failures have caused. The obvious fact of the matter is that the stock market took a huge hit for two reasons which both have “Democrat Party” written all over them: 1) the utter failure of European socialism at a time when Obama and the Democrats are still determined to follow this completely failed model here:

Markets worldwide were on edge over fiscal weakness in Italy and Spain and the eurozone’s ability to contain more crisis, as the two countries’ borrowing costs surged in recent days.”

and 2) the “let’s just create more money out of thin air” model otherwise known by the technical name of quantitative easing (i.e., QE1, QE2, and apparently soon-to-be QE3). Here’s how THAT very NON-Tea Party bankrupt and bankrupting policy will end:

We have officially crossed into the realm of abject fiscal and moral lunacy under Obama. We are now borrowing more than our entire economy is worth. Obama is borrowing 43 cents out of every dollar he is spending; he is deficit-spending $4.1 billion every single DAY; he has increased the size of government by 27% over George Bush (according to the CBO) and he is utterly determined to keep spending more and more and more.

In May of this year, Obama submitted a budget that would have added $12 trillion to our debt. It was so insane in so many ways that not even one single DEMOCRAT would vote for it in the Democrat-controlled Senate. Obama’s reckless and immoral budget failed by a vote of 97-0.

That’s not some right-wing talking point. That’s the TRUTH. Obama is an embarrassment. He is a disgrace.

Let’s take a moment to contemplate what Obama has done:

  • Trippled budget deficits since he took office
  • Gave us a failed $862 Billion stimulus package that the CBO said actually cost taxpayers $3.27 TRILLION.
  • Spent tens of billions in GM/Chrysler bailouts that were basically fascist (the corporatist state). See here and here.
  • Increased the size of government by 25%
  • Gave us chronic unemployment at Great Depression levels of 18%
  • Gave us a Debt/GDP ratio WORSE thanthe Great Depression
  • That in addition to two EXTRA wars in addition to the two he promised to get us out of and lied. The Libya war that he said would take “days, not weeks” has now dragged on for more than five months with no sign of ending
  • And now he’s given us a credit downgrade for the first time in American history

Obama will say ANYTHING. He is an abject liar and a fool who says one thing and then does another before saying something else entirely. Unfortunately, the pathologically biased mainstream media reports Obama’s constantly shifting rhetoric as if it had anything whatsoever to do with actual reality.

As an example, Obama repeatedly called for huge tax hikes in this debt ceiling deal on top of the $500 billion in tax hikes he got as part of ObamaCare. But listen to his own words in 2009: “You don’t raise taxes in a recession.”

The fact of history is crystal clear: Tax Cuts INCREASE Revenues; They Have ALWAYS Increased Revenues. Versus tax hikes, which reduce revenues and reduce GDP. As the National Bureau of Economic Research put it, “Tax changes have very large effects: an exogenous tax increase of 1 percent of GDP lowers real GDP by roughly 2 to 3 percent.”

And yet what do Obama and the Democrats keep doing? Obama is back to the same utterly failed Marxist class warfare tactics that have failed before. In the 1990s, Democrats imposed a “luxury tax” on items such as yachts, believing that the wealthy “could afford it.” Maybe they could and maybe they couldn’t, but the FACT was that the rich STOPPED buying yachts. As in stopped completely. As in NOBODY bought a yachtwith that damn tax on it. The Democrats finally rescinded that stupid tax two years later after destroying the yach building and yacht maintenance industries and killing over 100,000 jobs. Rich people weren’t hurt at all; ordinary people were devastated.

And now Obama wants to do the same thing with corporate jets that previous Democrats did to yachts. And they only people who will get hurt if Obama gets his way are the companies that hire people to build and maintain those jets and the workers themselves who will lose their jobs and their livelihoods. And the only thing that is stopping this rape of businesses, workers and the economy that depends on workers and businesses are Republicans. Even if many of the very people who are most hurt by Democrats Marxist class warfare policies are too stupid to know it.

It’s not enough to say that the Democrats’ thesis is false; the Democrats’ thesis has been utterly refuted before the world’s very eyes in Europe.  Our problem isn’t that we’re not enough like Europe; the very failure of Europe itself proves that our problem is that we’re already TOO MUCH like Europe.

We’ve got the second highest corporate tax rate in the entire world right now; and the United States is literally more communist than China now in many ways.  I submit that you must have both a mental and a moral problem in order to think raising those taxes and increasing regulations will somehow make our problems go away.  And yet that is precisely what Democrats foolishly believe.

Obama’s Tax and Health Plans WILL Hurt Businesses – And Ultimately American Workers

October 9, 2008

There’s quite a bit of confusion about Obama’s tax plan and its effect on small business and American workers.

John McCain stated during Tuesday night’s debate that most small businesses would see their taxes increase due to Barack Obama’s tax plan.  Barack Obama corrected him and said that only a small percentage of small businesses would see their taxes go up.  Both men are wrong.  And both are right.

Obama may or may not be right when he says that only a small percentage of small business would see their taxes go up under his economic plan – as it is written now (in at least its fourth version).  He hasn’t specified whether he will tax on the basis of net or gross, whether inventory counts as total part of total income, and so on (because the media will NOT do its job and press a liberal on economic details).  But regardless of how the specifics pan out, don’t forget that Bill Clinton similarly campaigned on a tax relief for the middle class economic plan – and he immediately taxes on the middle class early in his first term.  Given the high likelihood of a Democrat-controlled Congress that is eager to have massive government social projects, another such “undeclared” tax hike on the middle class is actually quite likely.

John McCain may have been incorrect in how he phrased his objection during the debate, but he is still right enough to win the argument if the facts actually come out.  He was probably wrong in saying that most small businesses would see their taxes increase in terms of the total number of businesses.  If you earn a living mowing lawns, and have no employees, or you have a business out of your home, you probably won’t be paying any higher taxes.  But keep in mind that a small business can have as many as 500 employees (up to a 1,000 in some industries) and be classified as “small.”  And such businesses are the real engine of our economy.  If a small business even employs a handful of employees, it is likely its revenues easily exceed Obama’s $250,000 figure.  It is these businesses which hire the most workers, and it is these businesses that Obama will start taxing.  It is also these businesses which will suffer the most even from a modest increase in their operating costs.  Many are skating on pretty thin ice as it is.  They can’t just sell more stock.

If Barack Obama raises the taxes for these small business owners, there will be layoffs.  And as his plan is right now, he is promising to raise their taxes.  Realize that we are in a tough economy.  It is harder to obtain loans.  Fewer people will be buying.  Small businesses will be struggling to survive, and if Obama does what he promises to do – particularly when he is going to force businesses to start paying health care as well – you WILL see layoffs.

Meanwhile, Obama is decrying John McCain for wanting to give tax breaks to big oil.  John McCain does NOT want just to give tax breaks to big oil (actually it was OBAMA who voted with Bush for the last big energy bill giveaway to big oil); he wants to lower taxes for ALL corporations.  Most nations realize that lowering taxes for corporations has resulted in corporations creating more jobs and more tax revenues, and that more corporations will be attracted to their country.  But not the United States: we have the second highest corporate tax rate as it is.  Obama wants to be “#1.”

Is that good for our struggling economy?  Your vote on November 4 will be your answer that question.

Another thing Obama wants to do is impose requirements for businesses to provide comprehensive health care for their employees or pay into a government fund.  Small businesses would be ostensibly exempted from the requirement, and would get a 50 percent health-care tax credit to help ease their cost of employee coverage.  People with pre-existing conditions – which often impose the largest cost on the health care system – cannot be denied coverage.  Businesses who hire such people will be forced to grin and bare it.

I wonder how many older workers will be fired in order to hire new – and less expensive – younger workers?  Under Obama’s plan, I’d sure be looking at my older employees as “potential health care time bombs” just waiting to explode.

Do you think that businesses and corporations will begin to pay very close attention to the health of the employees they hire, or do you think they won’t care about how much a new workers’ mandatory health care will cost?

Between raising taxes, and mandating expensive new requirements, many businesses and corporations will experience a genuine double whammy.  Do you think American businesses are made of money, or do you think they are vulnerable?  You will be answering that question in your vote on November 4.

One thing is extremely important to understand: Obama’s health care plan is modeled on the Massachusetts plan.  How are things going there?  Well, in the three years of the program’s existence, the tiny state is now already facing cost overruns of over $400 million.  Does that sound like a rousing success?  Massachusetts is facing a projected 85% increase in its costs by 2009 – which should set up a serious red flag that such programs are MASSIVELY underfunded.

You need to understand something else that emerged from Tuesday night’s debate: is health care a basic right?  Obama answered “yes.”  What does that mean?  It means that you have a duty to provide me with health care.  You have a constitutional, government-imposed duty to give me health care – no matter what – even if it costs you and your family to do so.  Am I an alcoholic who needs a liver transplant?  You owe me a new liver.   Did I sustain a brain injury riding my motorcycle without a helmet because I like to feel the wind in my hair?  Doesn’t matter.  I have a fundamental constitutional right to that liver, or to that brain surgery and all the long months of incredibly expensive therapy.  If I have a right to health care in the sense that Barack Obama believes, nothing else matters.

Do you understand how expensive this can all get?

Do you understand that Barack Obama is essentially talking about socializing a quarter of our economy?  Do you trust your government’s track record?

Your vote will be your answer to that question.

Barack Obama’s health care plan is estimated to cost $1.6 trillion in 10 years.  But that doesn’t take into account the very sort of cost overruns and cost increases that are even now plaguing the very state that Obama is basing his own plan upon.  What is going to happen to our economy given the extremely real likelihood that Obama’s massive national plan runs into similar issues?  Do you believe our economy is strong enough to bear the brunt of these massive cost increases?

Your vote will be your answer to that question.

Let me also point out something else: if businesses and corporations are forced to absorb shocking new costs, do you believe they will just swallow their profitability, or do you think they will pass their new costs onto you through higher prices?  Barack Obama keeps talking about his “95% of Americans will get a tax break” (which means that 30-40% of Americans who don’t actually pay income taxes will get an IRS-subsidized welfare check).  Will that check compensate for the higher prices you are likely to pay across the board for virtually everything you buy?

Again, your vote on November 4 will answer that question.

Don’t be too suprised if you vote yourself right out of a job.