With less than 25 days to go, the Fiscal Cliff of 2013 draws ever closer as Barack Obama continues his mad agenda of seeking the scalps of the rich. Or so he says. Forget for a moment what the fiscal cliff means to you and the rest of the average Americans. A failing economy, higher unemployment, higher taxes and arbitrary cuts to defense. Obama claims that he will not sign any bill that does not increase the tax rates on the wealthiest 2%. Last year, or even last month during the reelection campaign, Obama was content to just scalp the top 1%. But that would only add extra revenue for maybe 3 days of the federal budget. Going after the top 2% means funding a whole week of 7 days! But even this will not be enough, as Howard Dean admitted on Wednesday. He said that everyone′s taxes must be increased.
Already there is plenty of talk about creating a new wealth tax, which would tax 1% of all of the assets of the top 1%. If you study history, which the Liberals frown upon, then you might come to discover that originally, the federal income tax passed in 1913 was only targeting those who earned over $1 million dollars per year. Barely 200 Americans were to be subjected to the tax. It did not take Congress very long to expand their tax net on the rest of us. Likewise, today, some who are in favor of the wealth tax are also eying all 401K and IRA retirement funds. Assets that over half of the population have.
Revenue is revenue. House Speaker John Boehner is offering closing loopholes and limiting some deductions which only the top 27% of income earners use when the file their tax statements. The total amount of just the loopholes is about $1.1 Trillion per year, courtesy of two groups over major contributors to the Democrats, lawyers and CPAs. So is it any wonder that Obama is rejecting the $800 Billion Boehner has placed on the table?
Naturally, Obama will not discuss any spending cuts just now. That will have to wait till next year after he gets back from his $4 Million dollar vacation. Obama will spend in 3 weeks what 99% of Americans will never earn in their lifetimes. But he deserves it now, doesn′t he? After all, who works harder than Barack Hussein Obama? Forget about how he does not do anything in the White House until about 10am, then skips half of his national security briefings because he is just so smart and clairvoyant when it comes to intelligence reports.
But we cannot call Obama lazy or incompetent because that would be racist. It is probably also racist if we say that Obama merely wants to tax the rich because as a Socialist, he hates them so much. Or that he really does not care if he plunges America off the Fiscal Cliff, because that would give Barack Obama more of an excuse to further expand government. More people will need their hammocks as supplied by the Welfare State. The only way Obama can keep the game going is to have an unlimited checkbook which means going around the Constitution, the law of the land, and seizing the power to increase the nation′s debt ceiling. With no debt limit to worry about, Obama can spend all the money he wants and he′ll have plenty more to spend anyway thanks to the taxes in his ′Affordable Care Act′, a.k.a. ObamaCare.