Redistributing Our Earnings To Freeloaders
Well hello, hello! What did America think would happen when Obama et al decided to implement their liberal, progressive, socialist, lala-land entitlement programs? These libs believe that rich people are the enemy and need to be crushed to help save those less fortunate…..Let’s see where this has worked previously around the world….hmmm…no, can’t think of any country where wiping out the rich helps the poor. Anyone?
Income tax day, April 15, now divides Americans into two almost equal classes: those who pay for the services provided by government and the freeloaders. The percentage of Americans who will pay no federal income taxes at all for 2009 has risen to 47%.
That isn’t the worst of it. The bottom 40% not only pay no income tax, but also the government sends them cash or benefits financed by the taxes dutifully paid by those who do pay income tax.
The outright cash handouts include the earned income tax credit (EITC), which can amount to $5,657 a year to low-income families. Other financial benefits can include child tax credits, welfare, food stamps, WIC (women, infants, children), housing subsidies, unemployment benefits, Medicaid, S-CHIP and other programs.
This is a massive transfer of wealth and a soak-the-rich racket. The top 10% pay 73% of the income taxes collected by the federal government.
Rep. Paul Ryan, Wisconsin Republican, has become the congressional leader in explaining details of the recently passed Health Control Law. He says that, based on the Congressional Budget Office’s figures, taxes to pay for ObamaCare will have to skyrocket to an 88% income tax rate within 30 years.
Although all wage earners help fund their Social Security and Medicare benefits, only federal income taxpayers make the federal government run, pay off our $12.8 trillion national debt and bail out Social Security, Medicare, and Fannie and Freddie when they collapse.
Even the recently passed Health Control Law contains financial subsidies to unmarried couples that are denied to married couples. This rewards the unmarried women who were the second largest demographic constituency that voted for Barack Obama for president in 2008.
When Obama told Joe the Plumber he wanted to “spread the wealth around,” Obama wasn’t kidding. That’s exactly what he’s doing: taking money from taxpayers and spreading it around to nontaxpayers.
Nor was Obama kidding when, on the eve of his election, he threatened, “We are going to fundamentally transform the United States of America.” Converting the earnings of American workers into handouts for those who voted for Obama in 2008 is certainly a fundamental transformation.
Obama’s promise not to raise taxes on middle Americans is already down the drain. Obama brought former Federal Reserve Board Chairman Paul Volcker out of obscurity to serve as chairman of an Economic Recovery Advisory Board and announce that we need to raise taxes.