Representative Clyburn on Fox News

Congressman James Clyburn made an appearance on Neil Cavuto’s show on Fox News today, to make his case in support of Obama’s desire to increase taxes on the rich.  I thought Clyburn was downright clueless and non-sensical and sent the following email to Neil Cavuto -

“James Clyburn is representative of the worst of the Democratic Party buffoons! He ignores the fact that millionaires pay the highest rates on job income of anyone, that their investment income comes from re-investing after- tax dollars into companies that provide jobs and produce economic activity, that their investment income is then taxed at the highest corporate tax rate in the world, with all of these taxes coming BEFORE the individual pays capital gains taxes on top of everything else. This is a basic saliva test. ANYONE that talks about the rich not paying their fair share is too ignorant to deserve any respect.

Clyburn obviously is ignorant of what happened after the Democrats forced the first President Bush to violate his “no new taxes” promise, The Tax Reform Act of 1986 changed the rules on passive income and wrote new taxes to punish the rich that bought expensive boats and cars. All of this was done to “close loopholes” used by the rich and to help raise taxes to support the poor and middle class (sound familiar?). The passive income changes caused many investors to pull their money out of real estate projects, directly causing the S & L Crisis that destroyed the real estate market in the early 1990′s. The taxes on luxury cars and boats badly hurt the companies that produced and marketed those vehicles, directly hurting the poor and middle class workers that depended on those markets for their incomes and benefits.

Clyburn and Obama and all of the “Apologists for Mediocrity” seem to think you can build an economy on the backs of the weakest workers and anybody that actually thinks about it knows this isn’t true. In a capitalist economy, ALL of the economic activity, including all the jobs, are the result of INVESTMENT CAPITAL, not government interference.

For those that believe the government creates jobs, think again.  The government has no money of its own.  ALL of its money comes from other people’s pockets via taxes, borrowed money, or inflation (printing more money).  So anytime the government spends money, it’s actually taken that money from other people who could have used it more efficiently to drive the economy, siphoned off a large portion to pay for the cost of collection, then redistributed the rest in the least efficient manner. ANYTIME the government interferes with the actions of a free capitalist economy, they reduce the standard of living for the middle and lower classes the most.

Finally, the biggest flaw in the Obama Ignorance Campaign is that he and his supporters all seem to think that the rich are sitting targets, that their actions and strategies won’t change if the tax rules are changed. How STUPID can you get?! Rich people, as a rule, are more than able to hire smart people who will help them avoid the new taxes. The advisors of the rich are a hell of a lot smarter than the buffoons writing the tax rules, so the end result of trying to “tax the rich” is always failure, even if you can get the changes passed. Frankly, this is such a stupid approach to governing that even Obama probably knows this. He has no expectation of success. He’s just looking for a populist bump at the polls from a public that simply does not understand the facts and, when the leader of the nation is reduced to praying that the public will hate the other guys more than they hate him, nobody wins.”

 

 

 

 

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Why Can’t Little Barack Add?

Barack Obama says he wants to increase tax rates for millionaires, whom he says are paying lower rates than taxpayers with lower incomes.  Used as an example is Warren Buffet, who says he pays a lower tax rate than his secretary.  This is sheer buffoonery!

First of all, how does Warren Buffet know the tax rate for his secretary?  Did he prepare her tax return?  Has she released her income tax return?  Is the 29% rate claimed for her $60,000 salary the gross rate or net rate?  Does she have deductions for kids or a home or charity donations?  Is she single, married, head of household?  All of these things affect her actual tax rate, as well as his.  Let’s compare apples to apples, ok?

The 17% tax rate claimed by Warren Buffet for his own tax return is also extremely misleading.  The tax rate, if applied to his gross income, would be much higher.  However, he gives away much of his earnings to charity, which reduces his taxable income.  Much of his income also comes from dividends, which are only taxed as capital gains at 15% AT THIS STAGE.  That corporate income is also taxed at the highest corporate tax rate in the world!  So anybody that believes he’s really being taxed at 17% is simply not paying attention, including Buffet himself.  When you add the double taxation of his corporate earnings plus the percentage of income he gives to charity, his real “tax rate” comes to a MUCH higher number.

Worst of all is the idea that Barack Obama is going to pass a bill (Who is he freaking kidding? He couldn’t pass gas right now and has become, effectively, a lame duck) that will increase the tax rates on millionaires only, to make sure they pay a “fair” rate.  Is it even possible a sitting American President is that stupid?  All the millionaires need to do is donate less money to charity, or invest less money that results in double taxed income, and his apparent tax rate will increase.  What will the result be?  A little more money to the gaping shit hole that is our federal government, while worthy charities across the country will see their funding decimated.  Not to mention all the jobs that will be lost because companies could not raise money for startups and/or expansion.

The bottom line?  The rich can afford to pay people who are much smarter than anybody that works for Obama to arrange their financial affairs.  Passage of anything like the President is requesting will just result in one more hard body slam to the American economy; one that will hit the middle class and the poor hardest.  Will somebody please shut up this clown?

 

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End The Debt Ceiling Stalemate Now!

We get it!  Obama and the Democrats want to keep spending without restraint, but are willing to cut some spending if there are also some tax increases.  The Republicans, led by House Speaker Boehner, want to cut spending but are unwilling to raise taxes to cut the deficit.  Nobody wants to give in because that would make them look weak.  I have something to tell them – That ship has sailed!

According to the evening news, 80% of Americans are unhappy with the government.  The other 20% must be working IN the government!  It’s unlikely that the President and Congress have ever acted in a more incompetent manner than they are right now.

This isn’t supposed to be a budget battle right now.  The only issue is the raising of the debt ceiling, but the House has make cutting the deficit a prerequisite to giving approval.  Everyone has made offers to cut spending, the big issues seem to be how much cutting will be done now and whether or not some tax increases will be included.   It’s long past time for a deal.

Just take the smallest amount of spending cuts requested by either side, then add the smallest amount of tax cuts requested and sign the deal.  There is no acceptable delay!  If Congress and the President cannot agree to a deal immediately, they should all resign now.  Just raise the limit and go home.  The American people will not accept a default by the Federal government on it’s obligations.  Period!

If nobody is willing to take responsibility for the tax increases or the spending cuts, then I have an offer.  Leave it to me!  I will make the hard choices and take the responsibility.  Let me be their Sin Eater!  Just raise the debt limit and pass a bill agreeing to let me make spending cuts and tax increases as I see fit.  I’ll be done in a week but the debt limit issue will be gone immediately.

It’s bad enough that we have to listen to news anchors talking about this endlessly.  If I have to watch another minute of gutless excuses and whiny accusations from Obama or Boehner, I’m going to vomit.  You’re in the big leagues, ladies!  It’s time to start acting like it.  You have to do the job or go home.  The American people refuse to pay the price for your incompetence.

 

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