News behind the news. This picture is me (white spot) standing on the bridge connecting European and North American tectonic plates. It is located in the Reykjanes area of Iceland. By-the-way, this is a color picture.
The Obama Administration says that this proposal will add ‘fairness’ to the tax code. The provision is expected to raise $9 billion in ten years. At this point, I would like to point out that the current budget deficit is approximately $16 trillion dollars, and the projected annual deficit for 2013 will probably be in the neighborhood of $1 trillion dollars.
Let’s look at this concept of ‘fairness’ for a moment. How is it fair to continue to take money away from people who earn it and give it to people who don’t? How is it fair to punish someone who has worked hard and been successful for their efforts and success? Who has decided that we need ‘fairness?’ In 2009, the top 1% of earners paid 36.73 percent of the taxes (according to the National Taxpayers Union). How is that fair?
As we approach the fiscal cliff put into place by Congress and the President, we will hear a lot about the need to increase taxes to balance the budget. We will also hear that the ‘rich’ are not paying their fair share.
Bill Clinton’s relationship with the truth has not changed since the 1990’s. Breitbart.com posted a video of Bill Clinton on CNN yesterday explaining that the American people are easily confused by plans of lower taxes and lower spending. In the video he cited a few facts that were simply not true. See the numbers below taken from the National Taxpayers Union to see who actually pays income taxes in America.
Lower taxes and smaller government allow the private sector to grow. There is nothing confusing about that, and the American people are not confused. We are reaching the point where more people are taking money out of government that are putting money in. At that point the system totally breaks down and America as we have known it disappears. This election may be our last chance to prevent that.