Editor's notes: When Obama speaks of the rich paying their fair share, he (a) sets himself up as judge and jury on the matter and (b) ignores the fact that the rich now pay more than half their income to the Feds and the State. Understand that "point one percent" or one tenth of one percent of our nation's rich pay 25% of the income tax bill. That is the bill paid by the "uber-rich." The top 5% of income earners pay 35% of the total tax bill and spend 37% of all monies spent in this country. Further, a full 50% of this country does not pay any income tax at all - either federal or state.
And why does Obama lump those who make $250,000 (before deductions) into the same tax pool as those who make millions each year? How nuts is that?
More than that, with this arbitrary dividing line, Obama includes 48% of all small businesses, regardless of his denials otherwise -- according to the IRS. Turns out that 48% of small businesses file as individuals.
Midknight Review, for what it is worth, does not believe that tax cuts work without spending cuts. Reagan's tax cuts double taxable income. THAT is a fact. But, the Democrat Congress increased spending to deficit level. In modern times (at least) , the only combination that has reduced the national debt, combining tax cuts with spending cuts, was the 1994 -2000 Clinton/GOP legislature. Do not forget that a Democrat Congress has never balanced anything --- jds.
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