Friday, March 13, 2009

The Obama Budget

Let's call the Obama budget what it really is: "The most audacious attempt in generations to create a government-centered, bureaucratically controlled country." - Newt Gingrich

In Obama's inaugural speech, he said "America has carried on not simply because of the skill or vision of those in high office, but because We The People have remained faithful to the ideals of our forbearers, and true to our founding documents."

"Obama has never made a truer statement. Sadly, like all of his patriotic sounding statements, he did not mean a single word of it." - The Patriot Post

The Obama budget not only rolls back the Bush Tax cuts, it punishes oil companies, dramatically increases carbon taxes--all of which will be passed on to you!

President Obama has already dispatched his team to pressure members of Congress into accepting his massive $3.6 trillion budget plan. The President's budget proposal has $1.6 trillion in tax hikes, but that's not the worst part. The real beast in Obama's plan is his so-called
"carbon tax," that would be the single biggest tax-increasing itemin his budget--and the largest in history!

Go here to read Grassfire's latest release on the Obama budget:

Way back in November, when the Obama team was still flush with victory in the election, Obama White House Chief of Staff Rahm Emanuel laid out what he called "Rule One":

"Never let a crisis go to waste."

The Obama budget plan unveiled last week is proof that the goal of the administration is not economic recovery. The goal is an unprecedented shift of power to politicians and bureaucrats....

Which America Do We Want?

Ronald Reagan believed that at the center of American life was the individual. The entrepreneur. The worker. The doer. The family man and woman.

The Obama budget reveals a very different vision of the men and women at the center of American life.

They are the politicians. The bureaucrats. The interest groups that support an ever expanding government sector.

And so the American people are presented with a real choice: Which America do we want?

An America in which citizens and entrepreneurs are free and hold the power?

Or an American in which politicians and bureaucrats dominate and are in charge?...

Don't Punish Business for Locating Overseas. Encourage businesses to Come to America to Create American Jobs

...The United States imposes the second highest business taxes of any industrialized nation in the world. While countries like Ireland tax corporations at 12.5%, and even our neighbor Canada is moving its national business tax rate to 15% (the lowest among the G-7 countries), the United States taxes businesses at a whopping 35%. And a number of states have corporate income taxes on top of that.

Inevitably, high taxes in the U.S. cause some businesses to locate some or all of their business in lower tax countries overseas....

But if President Obama were serious about wanting to create jobs, he wouldn't be thinking up ways to punish companies for wanting to relocate overseas.

If President Obama were serious about creating and keeping American jobs he would be thinking of ways to make companies want to bring their jobs and capital to America - and keep them here.

....At a time when charitable donations are suffering because of the economic downturn, President Obama's budget discourages charitable giving by those Americans with the most to give by limiting the charitable giving deduction.

And at a time when cratering housing prices are driving the recession, President Obama's budget discourages home ownership by those Americans who could most positively impact housing prices by limiting the mortgage interest deduction.

President Obama's Budget Message: Bureaucratic government is the solution, and we no longer have a choice about it.
from Newt Gingrich

The Congress of the '90s steadied and strengthened the economy by following four priorities and principles, which are being turned on their heads at this moment by the present administration. As Newt noted in his excellent book Real Change, Congress' top priorities were to:

  • Cut taxes to increase economic growth and therefore increase revenues (unlike Obama's tax hikes, which will retard economic growth and depress revenues).
  • Set priorities and increase spending in key areas while reducing it in nonessential areas (unlike Obama's fiscal priorities of health care, energy and education, which are based not upon what is best for the economy but what is reflective of typical partisan preferences and doing what is politically expedient).
  • Eliminate pork-barrel spending (unlike the 9,000 earmarks in the present $410 billion omnibus spending bill, which is nothing short of absolute economic ludicrousness, mismanagement and waste within our present crisis).

  • Shift from expensive, wasteful systems to smarter spending; look at not only more inexpensive ways but also more productive ones (unlike Obama's theory to spend our way to prosperity, which is a sure way to sink America).
Our government is hemorrhaging money. The nanny state is becoming the norm. Our Founders are rolling in their graves. And at this very moment, Washington's credit-crazy and debt-accumulating addiction is dissolving our sovereignty like a sugar cube in coffee by handing our financial autonomy over to other nations. In other words, Rome is burning, and Caesar is stoking the fire!

Time is running out, but it's not too late to reverse Washington's fiscal frenzy. Don't just write to your representatives; hound them to live and legislate by the preceding four proven priorities and principles of governmental and monetary prudence.
from Chuck Norris

This story below illustrates what the high taxes will do to small businesses:
Consider what this means to the owner of a restaurant and bar in Los Angeles open from noon to midnight, where a husband and wife each put in 80 hours a week.

At year's end, the couple finds they have actually made a profit of $500,000 that they can take home in salary.

What is the Obama-Schwarzenegger tax take on that salary?

Their U.S. tax rate will have hit 39.6 percent.

Their California income tax will have hit 9.55 percent.

Medicare payroll taxes on the proprietor as both employer and salaried employee will be $14,500. Social Security payroll taxes for the proprietor as both employer and employee will be $13,243.

In short, U.S. and state income and payroll taxes will consume half of all the pair earned for some 8,000 hours of work.

From that ravaged salary they must pay a state sales tax of 8.25 percent, gas taxes for the 50-mile commute, and tens of thousands in property taxes on both their restaurant and home. And, after being pilloried by politicians for having feasted in the Bush era, they are now told the tax deduction they get for contributing to the church is to be cut 20 percent, while millions of Obama voters, who paid no U.S. income tax at all, will be getting a tax cut -- i.e., a fat little check -- in April.

from Patrick Buchanan

(all cartoons from The Patriot Post)

1 comment:

Mel said...

It is all so disgustingly nauseating.