OBAMA.............2/3 OF MILLIONAIRES..............BIG JOKE.........BIG LIE!!!!!!!!!

Recently Obama said that 2/3 of all millionaires support raising taxes on them.  

Well, the problem is that...

Projections say that Obama's tax plan will raise about 800 Billion over the next 10 years.  But let's be generous, let's say it will raise 1 Trillion over the next 10 years, that's 100 Billion a year.  The problem is back in 2010, we had a 1.3 TRILLION dollar deficit......just for that one year.  So under Obama's "Millionaire tax" (which includes anybody making over $200,000 dollars) you would still have a 1.2 TRILLION dollar deficit.....So raising taxes on "Millionaires" isn't going to make a dent in the deficit......

Let's say that you taxed everybody with incomes of 1 Million and over at a rate of 100%, that would raise just under 700 Billion Dollars, in one year.  So that would still leave about a 600 Billion dollar deficit.  But that would probably trash the economy, because then the "Rich" wouldn't be putting any money into the economy.  So taxing at 100% won't help.....

Here is one area that I believe the left is disingenuous, Obama says that 2/3 of Millionaires would be willing to pay higher taxes.....well, if they are truly saying this, all they have to do is....WRITE A CHECK.  That's right, just pull out your check book and send the IRS all the money you want.  And that goes to all you liberal/progressives out there who think we need to pay more in taxes, just send them the money, they will take it.  And you don't need the Government to pass a new tax law to do it.

Our Government is too big, it's spending money on things that they don't have the Constitutional Authority to spend on....like the Department of Education, with a budget of about 70 BILLION.  Where in the Constitution does the federal Government have the power to have a Department of Education.  The Government needs to quit spending OUR money.

They need to get rid of the departments that shouldn't be there. Then they could cut 10% in ALL Government spending from all departments left. Put together a flat tax with no deductions so EVERYBODY is paying their fair share.  And I don't have a problem with a progressive tax system where the lowest income earners pay maybe 2 - 5%, and have 3 or 4 rates up to where anybody making 1Million or more pay 25%.  You could do you taxes on a post card,

                                 your income

                            x                 15%            

                                what you owe.  

 It's that simple.

I believe all that Pres. Obama is doing is stirring up class warfare.  He wants the American people divided so he can get re-elected and pass even more radical socialistic type policies.  

Obama is also misleading the American people when he says that rich people are paying a lower tax rate.  He uses the example that Buffet is only paying 15% and his secretary pays 35%.  The misleading part of this is the secretary is paying Fed Income taxes, and Buffet is paying Long Term Capital Gains tax.

For Buffet to say we need to pay more in taxes is a joke.   

Buffet CHOOSES to not take a salary, which would be taxed at 35%, and gets his money from capital gains on investments, which is taxed at 15%.  But for those that are in the 35% Fed Tax bracket and have investment income, (which the investment has already been taxed), will have to pay the additional 15% on investment income.  So in effect some people are already paying 45% of their income just in Fed Taxes, and then you have to add State & Local Taxes.  So how are they not paying their “fair share”?

If I thought that taxing the rich would help pay off the Debt in the next ten years, (which is almost 16 TRILLION DOLLARS), I might could be persuaded to go along.  But to do that you would have to run a 1.6 Trillion dollar surplus every year for the next 10 years.  And I don't see that happening, no matter what the Government does.

Think about how long it would take to pay back 16 TRILLION DOLLARS: (if we don't accumulate any more debt)

                A 1 Trillion Dollar Budget Surplus, per year, would take 16 years

                A 500 Billion Dollar Surplus, per year,  would take 32 years

                A 250 Billion Dollar Surplus, per year, would take 64 Years.....you get the picture.

We can't even run a balanced budget, more less a surplus.....

People my age will have to accept the fact that we will never see the debt go away, and possibly even my Grandchildren will never see it go away.  and that is a sad thing for this Country.

Can we afford 4 more years of Obama and his socialistic/progressive policies and a big nanny state government......