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Sunday, July 19, 2009
Kevin McCullough :: Townhall.com Columnist
Obama's plan: 58% Tax Rates
by Kevin McCullough
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Let's also be clear about one other thing. Both Democrat John F. Kennedy and Republican Ronald W. Reagan implemented the same solution to the recessions they faced. Note that both the Democrat and Republican chose exactly the opposite action that the current administration seems determined to fulfill. Kennedy and Reagan lowered the top marginal tax rates. When they did, small businesses hired more people, expanded the middle class, and brought the U.S. Treasury record revenues the years following the implementation.

If President Obama wishes to genuinely solve the joblessness problem, all he has to do is embrace the historically proven solution.

Thursday morning two people in the Fox News building asked me, "What rate would you suggest?"

I would today, as I did in my first hardback, lower the rates across the board. End discrimination in the tax process by ceasing the punishment of those who succeed. Institute a tax rate of 10% across all economic spectrums. Job creation would explode in response, the economy would burn white hot back to health, and it would make President Obama not only a popular figure, but someone whose policy decision solved multiple issues for families in the process.

For if you fix the economy, health care, retirement, and independent planning for investing relieve much of the burden of medicaid, medicare, and Social Security.

The White House is now going silent on the impact of breaking their campaign promises, the first of which was to return to only the tax rates of the Clinton era, and secondly to not raise the tax load on Americans making under $250,000 by "one single dime."

The White House's smarmy Robert Gibbs promises, "It's a process that we're watching" or worse yet, that the administration is "going to let the process, work it's way through." These are not convincing arguments, even to the White House press corps.

And while Gibbs smugly leaves the West Wing, stagnation, joblessness, and lack of opportunity continue to bite at the administration's heels.

But they probably didn't notice, because President Obama was too busy campaigning on Thursday.
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About The Author
Kevin McCullough is the nationally syndicated host of "'Xtreme' Radio and columnist based in New York. He blogs at www.muscleheadrevolution.com. His second book "The Kind Of MAN Every Man SHOULD Be" is in stores now.

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Reply # 1
Date: Aug 7, 2009 - 4:37 PM EST
Believe!
I used to travel to Canada quite a bit and one time my contact had just been paid when I arrived. I jokingly said that the party was on him tonight and he said he thought he had enough for a beer apiece. He showed me his chech stub and they had decucted 54% of his pay for taxes due to all the socialized programs they have in place. That IS going to happen here! If you want to play you have to pay. I also was subjected to their medical system once. What a nightmare since I wasn't a citizen their first priority was to see how they were going to be paid NOT my medical problems. The afore mentioned individuals father-in-law had heart troubles and was put on a waiting list of 6 months during which he died waiting for a surgery. You folks need to wake up as the "CHANGE" is going to ruin us all.
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Reply # 2
Date: Jul 20, 2009 - 1:10 PM EST
Helping Reduce Our Deficit
Let's stop trying to undermine our President's attempt to reduce our deficit.

RECOVERING FROM THE BUSH TAX CUTS: "It certainly is okay for me to tell my friends on Wall Street, who just got a bonus of $600,000, that they're going to pay more in taxes so that we can lower health care costs in America," Sen. Bernie Sanders (I-VT) said.

SURCHARGE WON'T AFFECT SMALL BUSINESSES: A favorite conservative claim is that any tax increase on the top one percent will disproportionately affect small businesses. "Half of those people [who would have to pay the tax] derive their income from small businesses, half of those people are making the decision about whether to hire Americans or not," said Rep. Eric Cantor (R-VA). But according to both the Joint Tax Committee on Taxation and the Tax Policy Center, "96 percent of taxpayers with business income would not owe the surcharge." Furthermore, the Center on Budget and Policy Priorities pointed out that "the 4 percent of remaining 'small businesses' affected by the surcharge include taxpayers that stretch the definition of the term, including partners in large law and accounting firms and investors who have stakes in Wall Street investment partnerships." Due to the stimulus package that Congress passed in February, small businesses are actually receiving tax breaks, and as Rangel said, in the House's health care legislation, "we exempt small business from a lot of the penalties. We give tax credits so that they're able to hire and get people healthcare in small businesses."
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