It’s time to bash the wealthy! News media love to tell the common people just how rich the top 1 percent are, letting us know what kind of stuff they own and remind us that most of them contribute to [evil] Republicans.
I’ve had some Facebook friends post informational graphics concerning tax policy and health care issues. Almost every one is published by a liberal organization in support of President Obama and liberal policies. They are designed with emotion as the foundation. Here is my first shot at a conservative image you can download and post on Facebook.
On Special Report last night, Charles Krauthammer reminded us the Simpson Bowles Commission identified federal tax
loopholes and deductions that totaled more than $1 trillion every year.
Obama administration staffers discussing President Obama’s proposed balanced approach to reducing the deficit a few dollars – there is no interest in discussing the debt or unfunded future liabilities – have shown little or no interest in spending cuts.
We’ve been telling you this for years. You can pick out individual cases where really rich people – especially those living exclusively on dividend income – pay a lower effective federal income tax, but that is rare. For the 2010 tax year, IRS data proves millionaires payed an average tax rate of 20.4 percent, while the middle class paid between 5 percent and 8 percent, three to four times less than the rich!
He’s got no problem paying more taxes so “his country will grow,” but once he hears the French president is suggesting a 75 percent tax on income of more than $1 million Euros, he balks.