Democrats Demagog Tax Hike

When I was a sports reporter, I often went to the track to cover horse racing.  A betting window was conveniently located near the press box.  Eventually, I succumbed to temptation and put in, not one, but two modest wagers.    One of my horses came in last.  The other one died – he was literally hauled off to the glue factory.   I learned a valuable lesson.  That was the last bet I ever made.

One could only wish that Democrats would learn from their past mistakes: You cannot tax and spend your way out of a recession.  It’s never happened.  It’s not going to happen.  However, they seem hellbent on betting control of the House and Senate –  and perhaps even the 2012 presidential election –  on their pursuit of these failed polices.

On Monday, the president called for $50 billion in infrastructure “investments” (the Democrat word for spending) in order to stimulate the economy but stopped short on calling it a “stimulus” since that word now has the odor of the north end of a cow headed south.

Meanwhile, Obama’s colleagues in the House and Senate are still scrambling to get the votes to save the Bush tax cuts of 2001 and 2003 sans the evil rich.

The rhetoric in this debate has been over the top and not very helpful to the average voter. Republicans have pointed out that Obama’s plan to raise taxes on those making more than $250,000 a year hurts small business, the generator that must power the engine that is needed to drive us out of this recession, as many small businesses file as individuals.

Democrats fired back claiming that this argument is overblown because this tax hike will  affect only 2.5  percent of the nation’s more than five million small businesses.    Therefore, the impact is negligible.

Republicans counter by saying it effects 50 percent of small business income.

Enough!  What is a voter to believe?

Time for a reality check: Both arguments are technically correct.

The term small business is a broad term and covers everything from a one-man or one-woman enterprise operated out of the kitchen or spare room to a manufacturing company with less that 500 employees.

Some 900,000 small business filing individual tax returns, have incomes more than $250,000 and will be hit by Obama’s tax increase.   These small businesses account for about half of all small business income.  Income is what you have left over after salary, overhead, insurance and, gulp, taxes.  It’s called profit.   Profit is a good thing.   It’s these profitable small businesses that are able to hire more employees.    Hello Democrats?

Yesterday, Obama offered a series of targeted “tax breaks” for small business.  One hand giveth, while the other hand takes away, and the “giveth” part only goes to those small businesses that do what the government wants them to do, not what they need to do to stay profitable.

In the U.S., small business accounts for around half the GDP and more than half the employment. It may be hard to believe, but the top job provider in the U.S. is the small business with less than 10 employees, and those with 10 or more but less than 20 employees comes in  second.

Obama’s policies are like a bully, hitting the most profitable small businesses over the head, while kicking the smaller, more prolific ones in the stomach.  The smaller businesses, not directly impacted by the tax hike, will be impacted by the insurance mandate that fines small businesses that are not yet profitable enough to offer the kind of health insurance dictated by Democrats.

Just as a government cannot tax its way out of a recession, government spending also has a negative effect.  When the government spends money it doesn’t have it drives up the deficit.  And, the more the government borrows, the harder it is for small businesses to raise money.

In this economy, Obama’s policies will be the death knell for many small businesses struggling to survive.  Furthermore, they will decimate small towns, many of which are made up entirely of small businesses.

Never mind the track record on these policies, Obama and most Democrats plan to ride this horse till it drops.

The polls show that, although the public may not fully understand this debate, it understands the impact, and voters aren’t willing to bet their jobs and their future on these losers.  This is not what they signed on for two years ago.

The rhetoric is shrill and it will get louder, but it won’t change the end result.

Yes, fortunately, most people do learn from their mistakes.

6 thoughts on “Democrats Demagog Tax Hike

  1. There is an e-mail going around that says something like, “Don’t argue with stupid people. Eventually they bring you down to their level and beat you with experience.”

    It is not possible to fix stupid, but fortunately we can vote them out of office!

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  2. Interesting commentary, Jane. Obama is using small business to advance his campaign mode. The confusion problem with those of us who are patriotic citizens, who love America and want her to prosper, lies in trying to make common sense of Obama’s words and actions. There is no common sense there.

    Obama’s agenda is to destroy America. He and his minions lie to the public while arrogantly marching onward with glee with his socialistic, communistic agenda.
    We want one result; Obama secretly plans another.
    When we temporarily forget his agenda, we are confused.

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  3. Well here we go again more fuzzy math,see how government continues with their new math?!! Much more of this and my head will feel like it is filled with cotton wool, and my pocket change of coppers just continues to clink HELP!!!

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  4. Thanks for this, Jane. Liars are liars no matter what political label they wear.
    In the words of the inimitable John Wayne:
    “Life’s tough. It’s even tougher if you’re stupid.”

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  5. H. R. 4646 PLEASE, PLEASE READ
    This is true. Go to Snopes (URL: ) and key in HR 4646.
    ()

    H. R. 4646, “Debt Free America Act”

    I have gone into THOMAS L.O.C. (Library of Congress), printed out and read all 15 pages of this bill, given the “Short Title” of “Debt Free America Act.” It is the most socialistic thing I have ever read. Just think, if you deposit $5,000 into your checking account or savings account, the bank has to take out 1%, or $50, of that money and send it to Washington. Then, any checks or cash you take out of your bank they will deduct 1% from what is still in the bank and send it to Washington. Total put in the Bank $5,000.00. $100.00 of that you give to Washington.
    This bill spells it out that everyone will pay the Government 1% of their gross income from all bank deposits, in addition to the Income Tax.

    Page 9 states that the U.S. House and Senate shall convene not later than November 23, 2010. Page 11 states the vote on passage shall occur not later than December 23, 2010.

    SEND THIS TO EVERYONE YOU KNOW. EVERYONE NEEDS TO CONTACT THEIR CONGRESSMAN AND SENATOR BY TELEPHONE AND TELL THEM TO VOTE “NO” ON THIS BILL.

    EVERY SITTING SENATOR AND REPRESENTATIVE RUNNING FOR RE-ELECTION MUST NOT BE RE-ELECTED. THAT INCLUDES EVERY REPRESENTATIVE AND ONE-THIRD OF THE SENATORS UP FOR RE-ELECTION. THE MEMBERS OF BOTH PARTIES HAVE BETRAYED WE THE PEOPLE IN THEIR VOTING FOR LEGISLATION THAT IS TO THE DETRIMENT OF ALL AMERICAN CITIZENS.

    If you don’t know who your Congressman or Senator is, look it up in the Blue Pages of your Telephone Book, or go to Google, type in “(your state) Congressman email address.” When it comes up, click on “Complete Email address for Congress, House, Senate, Governors and get both email and FAX info.

    IT IS MUCH BETTER AND FASTER TO TELEPHONE EACH OF THEIR OFFICES LISTED IN THE PHONE BOOK TO TELL THEM YOUR OPINION. THEY WON’T SEE THE E-MAIL BUT THEY WILL HEAR ABOUT YOUR PHONE CALLS.

    The bill is HR-4646 introduced by U.S. Rep. Peter DeFazio (D- Oregon) and Senator Tom Harkin (D-Iowa). It is now in committee and will probably not be brought out until after the Nov. elections, but you never know. Suggest you pass this along, also to your state senator and representative.

    One percent transaction tax is proposed by Obama

    President Obama’s finance team is recommending a Transaction Tax. His plan is to sneak it in after the November election to keep it under the radar. This is a 1% tax on all transactions at any financial institution, i. e. Banks, Credit Unions, etc. Any deposit you make, or move dollars around within your account, i. e. transfer to, will have a 1% tax charged. If your paycheck or your Social Security or whatever is direct deposit, 1% tax is charged. If you hand-carry a check in to deposit, 1% tax charged, If you take cash in to deposit, 1% tax charged. This is from the man that promised you that, if you make under $250,000 per year, you will not see one penny of new tax. Keep your eyes and ears open. You will be amazed at what you learn. It proves the old adage: “How do you know when a politician is lying? When his lips are moving.”

    Some will say, ‘aw it’s just 1%.’ Remember, that once the tax is passed, they can raise it at will just like they did in Europe. They started with a 1% VAT in Europe, and now most countries in Europe (EU) have a VAT of 25%!! Now THAT’S a Transaction Tax!

    Time to GET BUSY. The time is short and the hour is late. The election is in four days! Vote for ANYONE except the incumbent senator or congressman.

    THIS ELECTION IS NOT ABOUT POLITICAL PARTIES. THIS ELECTION IS ABOUT ETHICS, MORALITY AND IDEOLOGY. RE-ELECT NO ONE IN THE U.S. SENATE!!! THEY ARE ALL THIEVES AND LIARS OF BOTH PARTIES!!!

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