Obama Scare Tactics Exposed

[Pell Mell]

Obama keeps throwing the failure to pay SS as a possible repercussion to the debt limit debate failing. These are just scare tactics and he knows it. Does he think everyone is as mindless as his voters in the ghettos of Chicago? :bang:

This article may shed a little light on the circumstances to those that can read;

http://news.yahoo.com/president-obama-no-longer-tethered-reality-160512355.html

[highnote]

From the Forbes article you posted:

official IRS data showed that for 2007 the top 1% of income earners paid more in federal income taxes than the bottom 95% combined. The top 1% paid 40.4% of all federal income taxes that year, almost twice their share of income. The middle fifth of income earners, the actual middle class, paid 4.7% of federal income taxes. Deck stacked against the middle class in favor of the wealthiest few?

Not once in the article does it mention the most important fact of all -- how much income did the wealthiest 1% have compared to, say, the middle fifth?

He needs to offer some perspective.

He complains about Obama asking hedge fund managers to pay a lower rate than their secretaries. The richest man in America -- Warren Buffet -- says the same thing. Buffet asks why his tax rate is lower than his secretary's?

Very weak article in my opinion. It's coming from a guy who is probably in the flat tax camp.

I don't mind reading his opinion, but he should at least try to be a little balanced and have some perspective.

If Jim Simons of Renaissance makes a billion dollars in income from his hedge fund and pays a flat tax of 10% he still has $900 million left over. If a single grandmother in W.V. living in a small apartment on a fixed income of $10,000 per year pays 10% she only has $9,000 left.

It's obvious to see why wealthy want a flat tax and poor want a progressive tax.

No matter how you slice and dice it, no one likes paying taxes and this argument will be going on long after you and I no longer exist in the world of taxpayers.



Obama keeps throwing the failure to pay SS as a possible repercussion to the debt limit debate failing. These are just scare tactics and he knows it. Does he think everyone is as mindless as his voters in the ghettos of Chicago? :bang:

This article may shed a little light on the circumstances to those that can read;

http://news.yahoo.com/president-obama-no-longer-tethered-reality-160512355.html