Monday, December 27, 2010

Class Warfare

First we have Obama administration and Democrats in Congress playing the race card to try to accomplish their radical changes in our country by trying to make anyone who opposes Obama to be a racist. Then they have moved on to class warfare by going after those making more than $250,000 as if they are responsible for all the trillions of dollars this administration and Congress have given us in the last 2 years. And remember, the Democrats have been in control of congress since 2006. Some interesting facts that should be considered: Of the 140 million that filed tax returns in 2008 only 5% with an adjusted growth income (AGI) made more than $160,000 a year, but paid more than 58.7 of the taxes collected. Only 1.4 million with an AGI in excess of $380,000, a mere 1% of the total filers, paid 38% of the taxes, while the other 133 million paid 94% of the total whose income was below $160,000. There were 58 million who paid no taxes. In fact, many of them were paid money via the earned tax credit. The question is, "Is it fair that 5% of the taxpayers pay 60% of the taxes collected?" The rich are not the responsible for our large deficits, but Congress and who has controlled of Congress for the past 4 years and the White House for the past 2 years. That is where the deficit spending and our $14 trillion deficit comes from. Congress has never seen a dollar they could not spend. Forget about where the money comes from, they will just find a way to tax more so they can spend more. The time to cut spending is upon us and printing more money to pay bills will only lead to hyper-inflation and all our money will then become worthless. But maybe, that is what this radical administration wants in a vain attempt to put in place a socialist society. Of course for anyone who reads history knows that socialism has failed everywhere it has been tried. It may last for 50 or 70 years, but eventually it collapses on its own weight of debt, corruption and poverty it creates.

No comments:

Post a Comment