Who is the Capitalist?
December 15, 2008
While China improves its business climate by lowering the burden of state confiscation, the US plans to increase it, and in some cases by a significant amount. Meanwhile, the House last night voted 237-170 to sink $15 billion into the American auto industry, with government officially owning part of three private auto makers in order to dictate to management how to run their businesses. Management welcomed the move, and in fact wanted Congress to buy an even bigger stake in these companies.
Needs VS Wants VS the Constitution
June 20, 2008
Inspired from an essay on the Glenn Beck Newsletter by Hon. David M. Walker
The Constitution dictates responsibilities that make up just 38% of current Federal budget & these bozos call it “discretionary spending”.
-national defense
-homeland security
-foreign policy
-education
-federal judiciary
- treasury functions
-postal service
-White House
-Congress.
62%of the budget takes care of and makes a priority entitlement programs like Medicare, Social Security and interest on the federal debt.
Current policies imply that total individual taxes would have to more than double from today’s levels in order for the federal government to deliver on its promises and pay its bills in the future.
We must wake up, face facts and the stark realization that if we don’t put our fiscal house in order, our collective future may not be as bright as our past. Our next President must display the candor and leadership necessary to make tough choices sooner rather than later.
The Hon. David M. Walker is President and CEO of the Peter G. Peterson Foundation and the immediate former Comptroller General of the United States.
The Peter G. Peterson Foundation is dedicated to increasing public awareness of the nature and urgency of several key challenges threatening America’s future and to accelerating action on them. To address these challenges successfully, we will work to bring Americans together to find sensible long-term solutions that transcend age
Obama Morphs McGovern
May 21, 2008
From the NY Sun KENNETH BLACKWELL
Its time America takes a closer and deeper look at him(Obama).
He’s the next George McGovern…. Obama is the single most liberal senator in the entire U.S. Senate. ..Never in my life have I seen a presidential frontrunner whose rhetoric is so far removed from his record…Walter Mondale promised to raise our taxes, and he lost. George McGovern promised military weakness, and he lost. Michael Dukakis promised a liberal domestic agenda, and he lost….Yet Mr. Obama is promising all those things, and he’s not behind in the polls. Why? Because the press has dealt with him as if he were in a beauty pageant.
Tax The Rich!
October 23, 2006
Raise taxes!
Thats what will happen to the people of America if the Dems take control of Congress.
The mantra this year is Soak the Rich and ease up on the middle class.
Yah, “try this Jesus juice, it will makie you feel better sweety!” They remind me of Jim Jones.
Under Bush, the Rich are paying more taxes than almost ever!
The IRS just completed their analysis of 2004 tax returns,(as reported by Kiplinger Tax Letter dated October 6, 2006).
Relatively speaking, people that earn high incomes are bearing the second highest burden since the 1986 Tax Reform Act passed.
- The top 1% of filers paid 36.9% of all income taxes, up from 34.3% the year before, but represented just 19% of total Adjusted Gross Income (AGI). An AGI of at least $328,000 was needed to be classified in the top 1%.
- The top 5% of tax filers paid 57% of total income tax received by the IRS, and made 33% of total AGI. These filers all had incomes of $137,000 or more.
- The top 10% of all filers - those with AGI’s of at least $99,100 - bore 68% of the income tax burden, but only represented about 44% of total Adjusted Gross Income.
- The bottom 50% of filers paid just 3.3% of total income tax, down from 3.5% the prior year. This was the lowest figure in recent years.
- The lowest-income earners actually had a NEGATIVE income tax rate, due to the Earned Income Credit refunding income and payroll taxes.
Under a Republican President George W. Bush, the lowest earners in America are paying less tax than they have in years.
That you will not see on Katy Couric!
