It's horseshit.
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“President Barack Obama's constant talk about "millionaires and billionaires" needing to pay higher taxes would be a bad joke, if the consequences were not so serious. Even if the income tax rate were raised to 100 percent on millionaires and billionaires, it would still not cover the trillions of dollars the government is spending. […] Then and now, people with the highest incomes have had the greatest flexibility as to where they will put their money. Buying tax-exempt bonds is just one of the many ways that "millionaires and billionaires" avoid paying hard cash to the government, no matter how high the tax rates go. Most working people don't have the same options. Their taxes have been taken out of their paychecks before they get them. Even more so today than in the 1920s, billions of dollars can be sent overseas electronically, almost instantaneously, to be invested in other countries-- creating jobs there, while millions of Americans are unemployed. That is a very high price to pay for class warfare rhetoric about taxing "millionaires and billionaires." Make no mistake about it, that kind of rhetoric wins votes for political demagogues-- and votes are their bottom line. But that is totally different from saying that it will bring in more tax revenue to the government.”
— Thomas Sowell, 2011/05/17 (townhall.com)
Politics has always been a dirty business. Yes, I know that everybody knows that. But The Obama has elevated dirty politics to an art form: Misdirection as Policy. The Won is The Conveyor of Crap; Purveyor of Putridity; Surveyor of Shit; Destroyer of Decency … . In a word, He is The Anti-Midas — everything He touches turns to shit. And the little people gobble it up like it was bottomless hot-fudge sundae.
Which all begs the question: Why do the billionaires like Big Bill the Gatekeeper, Warren the All-You-Can-Eat Buffet, and all those media millionaires and glamor gillionaires cheer Him on? Because they pretend to champion the little guy, while their money can't be touched. They have tax loopholes (cf., tax-free bonds, etc.) to shield their cash flowing all the way to those untraceable Swiss bank-accounts. The working stiffs have W-4 forms.
Don't you see? Gates and Buffet and all the rest can even pay an order of magnitude more than the amount of taxes collected from middle-class individuals, and it doesn't amount to stamp-money for them. But for the middle class it is, to quote that asshole VP, "A big effing deal!"
The shit-storm unleashed in 2008 is absolutely stifling to behold. The Englishman supposedly doesn't know enough to come in out of the rain. But the American working-stiff doesn't know when it's raining cat- and dog-shit.
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Post 1,632 Misdirection as Policy
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