Tag: more class warfare

What the class warriors are really aiming for: tax everyone more

Thrill had a post up discussing the upcoming tax battle as the Bush tax cuts are scheduled to expire at the end of this year. The donkeys are clamoring for that to happen, because they want stupid people to believe that tax hikes on the rich will somehow cover the $1.3 trillion – estimated since we conveniently have had no budget in the last 3 years to verify it is only this much that they are over spending by – of annual deficit spending we have had since the democrats took over (BLAME BOOSH! – trademark). But the fact is that this tax hike is not going to change anything in any meaningful way.

Let us start with the real numbers, and we can take a look at the Tax Foundation’s site where they have this special report breaking down the numbers. First up, the table showing the Bush tax cut provisions and what is going to happen on January 1st (table 2 in the report):

Major Bush Tax Cut Income Tax Provisions

Let’s break down the tax changes, focusing on income tax brackets. The first thing to notice is that the lowest bracket, 10% goes away. All those that were in that bracket now are moved into the 15% bracket. Note that this apparently still leaves a sizable chunk of people that are not paying income taxes because of some earnings threshold, still not paying any income taxes. All other brackets jump some 3 ½ percent. According to this Tax Foundation’s special report’s table 1, line one, this change across the board will result in a measly $156 billion dollars of extra annual revenue.

Tax Changes Effective 1-1-2013

So an across the board hike of 3 ½ percent for ALL BRACKETS that are currently paying income tax will yield us just $156 billion more. Focusing only on the hike the left wants, the top earner’s bracket, the question begs to be asked: what’s the revenue then? If we want to be generous, apply historical precedent where these rich people already pay 50%+ of the taxes, we can guestimate their share amounts to some $80 billion. Yeah, I am fudging it upwards, but in the grand scheme of things – they are spending over $1.3 trillion more than they are collecting each year – that $2 billion is a rounding error, and then one in the left’s favor. Shit, let’s just say it is an even cool $100 billion they are going to rake in, because these stupid rich people are not going to react at all to the government wanting to fleece them even more. So where are the other $1.2 trillion they need to just break even going to come from? There is no way this gap gets covered by just the rich. Even if they jack their bracket up to over 50%. And that’s the point.

This Obamanomics strategy here is just that: a fake. The intent is to allow the left to pretend they created new revenue by socking it to the group people envy the most. We have had more than a decade of this conditioning. The Boosh tax cuts caused a deficit! (Not the fact government spent more than it took in). Those evil Boosh wars caused the deficit (again: not the fact government spent more than it took in). The rich are not paying their fair share! Boosh’s tax cuts and wars, not the stupid and doomed attempt to social engineer through mortgage lending, caused that horrible economic down turn that still plagues poor genius Obama. Even after 4 years of Obamanomics, and that’s because these evil republicans are protecting their rich fat cat buddies! The fact that 4 out of every 5 of these rich people voted for Obama be damned.

Anyway, back to the plan. So the left socks it to the group everyone loves to hate, and then what? Well, then jack up spending, yet again. After all, they have provided new revenue, and in the mind of the math challenged tools that love this nonsense, they think things are all fine and more spending is no big deal. After all, their buddies in government can just confiscate more from those rich people to cover any new spending, right? Heh, sure. Eventually taxes will have to go up on everybody to cover the gap, or that gap is only going to grow, sine the end goal is to provide an excuse to spend more. And that’s the big goal: an excuse to spend more.

Now, if all that we ere facing was an economic growth crushing tax hike and increased government spending, things would only look ugly. But there is another monster on the horizon that promises to make this bleak scenario downright frightening on account that it is going to not just siphon even more money out of the economy and allow government to mismanage it, but drastically affect employers, and thus employment. And that is on top of the fact that while they told us this thing would end up collecting more than it would cost to sell it, we now know that is not even remotely close to the truth. Yeah, we are talking about Obamacare and the pain that will cause us.

The table below breaks down Obamacare taxes, and man are there a lot of them.

Obamacare Taxes

This monster is just going to have staggering implications. But that’s a post for another day. Right now, let’s focus on why the class warriors really want that tax hike, and that it will not be just on the rich, by necessity.

Desperation as election nears.

With some 12 days left till our election, Team Obama basically promising us 4 more years of the same economy crippling collectivist, Keynesian, big government bullshit, and all the LSM’s attempts to carry water for “THE WON” not working, the left is getting absolutely desperate. We are bombarded here in CT with class warfare commercials about how if Obama loses the bastards that will take over will basically help the rich soak us all.

Never mind that even the losers at HuffPo, in this lame attempt to spin the facts, admit that Wall Street had done far better under Obama than in all previous 8 Bush years combined, by 2011. Remember how the left told us the Bush years allowed Wall Street to rob the citizenry blind? Haliburton!!!11! So, 3 years of Team Blue fighting for the little guy, years of heavy Wall Street regulation which brought us such doozies as the Dodd-Franks 2K behemoth that all but guarantees our government will keep pushing home ownership lending as a social engineering tool, and bring us another economic meltdown, Wall Street did better.

And when even the Kossacks are admitting that the Fed’s policy of QE3 easing, done only so they can keep inflation down and prevent that from screwing up their nanny-welfare state spending as inflation would cause most tax dollars collected to be eaten up paying down interest on the $16 trillion of borrowed money, helps the rich more than the poor, you know your policies suck. It’s not accidental that you have the LSM producing lame ass excuses like this one to again shift blame from the results of the failed Keynesian wealth redistributionist policies of the last 4 years to blame tired old Boosh!

And yet, here we are again with another LSM bullshit class warfare piece intended to appeal to those that are jealous of what others have. The left is hell bent on capitalizing on base envy and greed to enrich themselves and their inner circle of selected buddies, while drastically increasing the number of people dependant on government for a piss poor daily subsistence, for the power it brings them. But hey, the bad guys are the people that want to unshackle the economy instead of controlling who gets to win and who gets to lose.

To quote Heinlein:

Throughout history, poverty is the normal condition of man. Advances which permit this norm to be exceeded — here and there, now and then — are the work of an extremely small minority, frequently despised, often condemned, and almost always opposed by all right-thinking people. Whenever this tiny minority is kept from creating, or (as sometimes happens) is driven out of a society, the people then slip back into abject poverty.

This is known as “bad luck.”

The collectivists all but guarantee us this bad luck, but the elite figure when the shit hits the fan, they will keep the power and their standard of living, while the rest of us can live in this kind of paradise.

Comrade Clinton, Clueless

For those few here that have made any utterances concerning a preference for Hillary and how she would have made a much better president than that bozo we have now, it is time for a reality check. If it was not blatantly obvious before that the differences between the two philosophies would not fill a thimble, that Hillary is as much class warfare, as much elitists snobby ,”Damn those rich people, just not me” and how she is just as Marxist, just as clueless about how the free markets work, take a listen to how she thinks the rich peole around the world are not only skating on their taxes but do zero for productivity:

First, before the usual suspects pipe up with ,”But, but, that was only a small snippet, she must have been taken out of context”, save it, the only way that would be true is if prior to this clip she said something like ,”OK folks, since it is opposites day {somewhere} for the next few minutes just turn everything I say around, then it will make sense”.

Aside from the simple arithmetic problem that they always trip over, that the rich pay way more then their fair share already, it always begs the question, what the hell does she mean by “equitable”?

This same old mime about the rich need to pay more, especially since it always comes from a rich liberal, give it a rest already, it has been played out to death and it is frankly boring. You sissies all march in lock step, but nowhere do you ever say how much is enough. As much as I think François Hollande is so wrong in his projected %75 tax rate for the well off in France (look at all those road runner clouds leaving, kiss all that revenue goodbye you greedy bastard) at least he has the stones to put himself out there and stand up. Hillary, like Obama, keeps crying about the unfairness of it all, but lip service is all that is needed, don’t want to put yourself on record as being too confiscatory.

And did you get that part about the rich not contributing to the growth of their own countries? I vote that as THE dumbest statement made by a politician this year, yes, even dumber then ,”You did not build that”. I guess we won’t mention to her how it is the rich people that start the start ups, companies that hire folks, companies that produce and create wealth, which said wealth btw is then taxed providing much needed revenue for the ever growing governments they tout. It is beyond stupid, I mean, I doubt Obama would say something this stupid, and he is as re distributive as they come, even he sees that rich people do in fact contribute greatly to the growth of this country, of course he wants them to contribute even more, keep shearing those sheep.

Between all the State Dept. blunders over the last week, and all the foreign policy mistakes that we have talked about before, now add this class warfare nonsense, the clear lack of any clarity in how the private sector, the free markets spur growth and prosperity, how ordinary folk take risks spending their own money and time creating businesses where some actually do well and grow, thereby creating hundreds (thousands of new jobs) and making the risk taker rich. But no, that guy is good for nothing, a drag on society, and is meaningless to the country collective.

Hillary is no good, period, and she would make a dreadful president, Obama lite but without charisma and the sloppy golf game. She has no clear vision of American exceptionalism, and would relegate America to that same second world status that Obama sees for us. And seriously, do we really want that Viagra induced horndog running around terrorizing interns?