When your only tool is a hammer, everything looks like a nail.
“We all remember Abraham Lincoln as the leader who saved our Union. But in the middle of a Civil War, he was also a leader who looked to the future—a Republican president who mobilized government to build the transcontinental railroad; launch the National Academy of Sciences; and set up the first land grant colleges. And leaders of both parties have followed the example he set.”
What Obama failed to mention is that during this time period, the income tax rate was incredibly low (3% up to $10K in income….and $10K was a hell of a lot of annual income in the 1860s). Obama also fails to mention that the national debt was miniscule. We were not beholden to foreign lenders as we are today.
As per usual, Obama gives us intellectually dishonest points of reference. As if the tax rates where the same back then and debt was similar. Hell, if I was paying 3% in income tax, I probably would not care about a tax increase today. But between my FICA, social security, Medicare and property taxes….I pay almost 50% of my income to one tax or another. Bugger off if you want more.
There was nothing in the proposal that will lead to value creation. If there is no value created, the economy will not grow. All it will amount to is transferring money from one account to another (IE, from the tax payers to the non-tax payers.).
Step on up and play Obama Three Card Monte. Find the $! Where did it go, where did it go! It’s on the left! NOPE. It’s to the right! Nope. It’s in the middle! Nope. It’s gone forever.
But then, let’s face it, redistribution is all this administration was every about anyway.
It’s funny thinking back to Candidate Obama and Plumber Joe. Obama told him flat out what his administration would be about. And the media attacked Plumber Joe.
I think someone out there owes Plumber Joe an apology.
Never — never have I seen a more derisive, poisonous and worthless speech by a US president, and I have now heard from 7 in my lifetime. It is clear this guy did not grow up with an American experience (sense of neighborhood, good public school, pride in US accomplishments, playing baseball / football, Cub / Boy Scouts and so on). It is clear, too, he caters to the socialist elements on our shores.
This next year will test America the likes we have not seen since the Civil War times, and way beyond what we saw in the worst of times during the Viet Nam war. Obama thinks it is a game to divide the haves from the have-nots, the union laborers from non-union workers, and the federal power from the states’ power and, most telling, the populace based on race.
Republican presidential candidate Herman Cain summed it up best:
We waited 30 months for this?