{"id":5860,"date":"2011-09-19T13:08:04","date_gmt":"2011-09-19T17:08:04","guid":{"rendered":"http:\/\/www.rightwinggranny.com\/?p=5860"},"modified":"2011-09-19T13:08:04","modified_gmt":"2011-09-19T17:08:04","slug":"president-obamas-debt-reduction-plan-just-take-more-from-successful-americans","status":"publish","type":"post","link":"https:\/\/www.rightwinggranny.com\/?p=5860","title":{"rendered":"President Obama’s Debt Reduction Plan–Just Take More From Successful Americans"},"content":{"rendered":"

A website called mrc.tv<\/a>\u00a0posted a short video of President Obama saying, “The last thing you want to do is raise taxes in the middle of a recession because that would suck up… take more demand out of the economy and put businesses in a further hole.”<\/strong> That statement was made to\u00a0NBC’s Chuck Todd on August 5, 2009. What has changed?<\/p>\n

The Associated Press<\/a>\u00a0reported today on the President’s plan to reduce the deficit. The plan calls for\u00a0$1.5 trillion in new taxes. Wow.<\/p>\n

The article reports:<\/p>\n

The president’s proposal would predominantly hit upper income taxpayers but would also reduce spending in mandatory benefit programs, including Medicare and Medicaid, by $580 billion. It also counts savings of $1 trillion over 10 years from the withdrawal of troops from Iraq and Afghanistan.<\/strong><\/p>\n

This is not a realistic deficit reduction proposal. It is a plan that the President expects the Republicans in the House of Representatives to reject so that he can use their rejection as a campaign issue. Tax increases on upper income people are not, nor have they ever been, the answer to the deficit–it’s time we took a good look at government waste–Solyndra anyone?<\/p>\n

The Tax Lawyer’s Blog<\/a> reported in December 2010:<\/p>\n

When it comes to taxes paid, an even wider discrepancy shows itself \u2014 in reverse. Compared with that 38% of taxes paid by the top 1% of earners, the bottom 50% pay just 2.7% of the taxes collected.<\/strong><\/p>\n

<\/strong>This is a chart from the website:<\/p>\n

\"\"<\/p>\n

Taxing people who are successful does not create jobs. They simply hire more attorneys and accountants to avoid the taxes. In the end, the middle class will pay the price–many of these ‘high earners’ are ‘S’ corporations who will have no choice but to charge more for their products to offset the higher taxes. The President’s deficit reduction plan should be dead on arrival.<\/p>\n

 <\/p>\n


\n<\/span><\/p><\/blockquote>\n

\"Enhanced<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

A website called mrc.tv\u00a0posted a short video of President Obama saying, “The last thing you want to do is raise taxes in the middle of a recession because that would suck up… take more demand out of the economy and … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[97,495,496,280],"class_list":["post-5860","post","type-post","status-publish","format-standard","hentry","category-uncategorized","tag-barack-obama","tag-nbc","tag-president-obamas-deficit-reduction-plan","tag-tax"],"_links":{"self":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts\/5860","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5860"}],"version-history":[{"count":1,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts\/5860\/revisions"}],"predecessor-version":[{"id":5875,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts\/5860\/revisions\/5875"}],"wp:attachment":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5860"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5860"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5860"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}