Mr. President, the problem lies with Government Spending and not taxes.
If you saw President Obama’s 2013 budget estimates, then you probably know that he plans to raise 1.5 trillion dollars by increasing taxes for the rich.
It seems the Obama administration believes in taking people for a ride. They think that if they tell a lie over and over again, it becomes a fact. Nowadays, the president and his leftist cabal spend the whole day talking about how rates for the rich are too low.
Anyone who thinks tax rates for any group of people is too low has been brainwashed. The fact is that taxes in the U.S. are too high.
Government spending is at an all time high. Taxes do not matter. The government can rise rates on 2012 taxes but still end up with a deficit.
Like any other addict, the government needs rehab because of its addiction to spending.
Americans pay less taxes than Europeans, yet these countries, with their exorbitant tax rates, are broke.
Yet the president continues to claim that tax rates for the rich are too low in every speech he makes.
According to U.S. laws, when the CEO of a company lies to investors, he can go to jail because of committing fraud.
Yet the president continues to spread lies to innocent taxpayers. He justifies his opinion by stating the fact that the top 1 percent of income earners are very rich and yet they pay the lowest tax rate. While this may be true it does not justify increasing rates on 2012 taxes for the rich.
- Effective Tax Rate: Not As Simple As It Seems (2010tax.org)
- Effective Tax Rate And 2010 Taxes What Is Real And What Is A Political Puzzle (2011taxes.org)