President Barack Obama touted a proposal to collect $580 billion in new taxes over the next 10 years from the wealthy to reduce the nation's escalating deficit.
As we should all know by know, not only has the taxes of the wealthy been increased, but the not so wealthy had their taxes increased by way of the payroll tax.
And let their be no doubt, the Republican legislators will oblige to raise the taxes of the not so wealthy.
In total, Obama proposes to raise $1.1 trillion over 10 years in new revenue from a variety of sources.
There's $79 billion from raising the tax on inheritances. Another $158 billion from income earned overseas. $78 billion from addition taxes on cigarettes.
There are also fees on airline passengers, on those who fail to file certain information electronically, and on banks that once took money from the federal government to survive. There are also a variety of other new taxes.
More tax increases appear unlikely to get past the Republican-led House of Representatives.
It is really mind boggling, Obama and Democratic officials are seeking more revenue by way of taxes. The opportunity presented itself with the possible expiration of the Bush era tax cut, which the Democratic officials did not take advantage of. Now the Democrats want an increase in revenue. Well, they had the chance, and blew it. During his campaign for a second term, he said he would let the Bush era tax cuts expire, of course he did not keep his word. He was held hostage by two words; "fiscal cliff".
And the Republicans call him liberal. Liberals don't hold kindly to hostage taking. He is not a liberal, he more conservative than liberal; even if it is because of his naivety. It seems that because he does not take a stand, he gives in to the so called conservatives, even if it is by default or ignorance, and Democratic officials follow his lead.It is as if, the blind is leading the blind.
I have heard it said that the office of the president is a " bully pit". Well, with Obama, it has been a get bullied pit.
A man who will stand for nothing, will fall for anything.
Obama is not a liberal. By calling Obama a liberal, you're disgracing real liberals.
Frederick Bryant
July 2, 2013