"I'm in the top two percent," said Peter Schiff, CEO of Euro Pacific Capital, this week on CNBC. "Right now, I'm paying 45 percent of my total income in income taxes ... You tell me, what's fair about that when medieval serfs pay 25 percent, I'm paying half? I don't care what the majority voted to do, they don't have a right to steal my money just because they vote for it."
We are still borrowing more than $1 trillion a year. Barack Obama has added more than $5 trillion to the national debt in just his first term alone. Such massive borrowing is unsustainable. Someone somehow at some time has to pay it back.
Republicans find themselves in the unenviable position of being forced to agree to raise taxes on those earning more than $200,000 (the actual cut off for those Mr. Obama refers to as "millionaires and billionaires"), or risk being blamed for a tax increase on all taxpaying Americans. They will probably agree, which means it's a politically unavoidable policy, not a good policy.
Consider this headline from a Reuters article in The Huffington Post: "Raising Taxes on Rich Won't Hurt Economic Growth, CBO Says."
People who hate a physical war cheer a war on success and profits and upward mobility. Many are ready to dismantle the nation all out of a false notion of fairness.
The Democratic National Committee, with the approval of President Lyndon B. Johnson engaged in an effort that eventually led to the U.S. Supreme Court ruling on the Fairness Doctrine. What would have been a major scandal had it been discovered, was revealed years later in former CBS News president Fred Friendly’s book “The Good Guys, the Bad Guys and the First Amendment.”
Democrats have been having a field day with the cry of "tax cuts for the rich" -- for which Republicans seem to have no reply. This is especially surprising, because Democrats made the same arguments back in the 1920s, and the Republicans then not only had a reply, but one that eventually carried the day, when the top tax rate was brought down from 73 percent to 24 percent.
As grateful as I am for Barack Obama’s profound, nonsensical meditations on the meaning of hope, I am even more grateful that the One has come to make the world fair, and to tell us what fairness really means.
My late father was a man of strong opinion. He despised phonies, cowards and liars. He named names -- sometimes in very close proximity to those being singled out. A veteran of World War II, he recognized a weasel when he saw one.
When my wife was a liberal, she complained that libertarian reasoning is coldhearted. Since markets produce winners and losers -- and many losers did nothing wrong -- market competition is cruel. It must seem so.
WASHINGTON - Somewhere between the New Frontier and the Age of Obama, the Democrats turned fiercely anti-capitalism, anti-business, anti-wealth and anti-success.
“The whole concept of corporate tax reform,” President Obama said on announcing his new plan to accomplish the task, “is to simplify, eliminate loopholes, [to] treat everybody fairly.” It is a theme he has repeatedly emphasized: making the tax code more equitable so that everyone pays their fair share. But like most of the president’s initiatives, the rhetoric does not reflect the reality.
President Barack Obama last week visited Palm Beach Gardens, Fla. -- a small city of 15 golf courses -- so he could preach to some of his humble campaign contributors his vision of American frugality.
President Barack Obama calls his proposed tax on millionaires the "Buffett rule," based on financier Warren Buffett's claim that he pays a lower tax rate than his secretary. Obama claims that the "Buffett rule" asks millionaires to "do their fair share" by paying the same income tax rate that middle-class families pay.
You have got to give credit where credit is due. President Barack Obama has laid out the core message of his re-election campaign. It is a message whose claims are blatantly false and whose point is irrelevant to what is of greatest concern to Americans today.
President Obama has laid out the core message of his reelection campaign. It is a message whose claims are blatantly false and whose point is irrelevant to what is of greatest concern to Americans today.
Rick Santelli on CNBC calls out Obama's Buffett Rule.
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