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We expected Barack Obama to offer little new in his speech on the budget; I’m not sure we expected as much repetition as we got. Bookended by rhetoric on the kind of America in which he wanted to live, Obama gave a four-step plan to confront the massive and crippling deficits ahead of us that entirely relies on the kind of proposals he’s already aired in the past. He gave little in the way of specifics, and made no mention at all of his deficit commission again. Instead of offering specifics on cuts, Obama instead offered specifics on … more spending:
If it wasn't so predictable, stupid, and disastrous I'd be laughing my ass off. This guy and his idiot supporters are determined to bring OUR country to her knees.
Yes, because the raising taxes on the 2% can cut the deficit by trillions in a matter of years, nurse the poor,save the middle class,educate the masses, fund the wars AND pay for all of the politicians pet causes.
Raising taxes on the evil rich is far more effective than making CUTS across the board.
In plain terms we need to cut spending and drastically. There is no other way.
The whole idea of "taxing the evil rich" because "they are not paying their fair share" is class warfare at it's ugliest and the end result will only make all of us poorer.
This year, Congress will spend $3.7 trillion dollars. That turns out to be about $10 billion per day. Can we prey upon the rich to cough up the money? According to IRS statistics, roughly 2 percent of U.S. households have an income of $250,000 and above. By the way, $250,000 per year hardly qualifies one as being rich. It's not even yacht and Learjet money. All told, households earning $250,000 and above account for 25 percent, or $1.97 trillion, of the nearly $8 trillion of total household income.If Congress imposed a 100 percent tax, taking all earnings above $250,000 per year, it would yield the princely sum of $1.4 trillion. That would keep the government running for 141 days, but there's a problem because there are 224 more days left in the year.
If we taxed everyone earning more than $250,000 at a 50% rate that would be enough to run the federal government for 70.1 days or get us to about March 9th.
But,but,but, Ole Joe Biden is going to run the show.
Wasn't he supposed to being running several shows already? What has he accomplished?
Looks like Biden took this speech about as seriously as most of us as it looked like he got a nap in. Yeah, hes soooooooo much better a VP than Palin would've been.
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