●Obama's COOKed BOOK_自考|成考|专升本|高升专|高升本|在职研究生-学历教育网

专科

Recipe's for Disaster
It appears Barack Obama, after blasting former President Bush for doubling the national debt in eight years, and rightly so, is set to do more of the same. He has recently released his budget proposal, titled "A New Era of Responsibility. Renewing Americas promise." Obama claims this to be an honest accounting of where we are and where we intend to go. After close examination, I find irresponsible budget deficits for as far as they eye can see.

His claim of responsibility is only valid in that it contains placeholders for spending he intends to make, but does not yet have detailed plans for. Sure, I've said for a long time that all federal spending needs to be in the budget. And this appears to be a step in that direction, but just how real are these numbers. I understand that emergencies arise that can't possibly be planned for. But without specific plans, I find it hard to believe these placeholders are accurate. And, his budget is already far too deep into the red.

The alarming white house estimates are spelled out pretty clearly in the budget proposed. A 1.75T deficit in 2009, a 1.17T deficit in 2010, a 900B deficit in 2011 and a 500B deficit in 2012. Sure, he claims he will halve the deficits by the end of his first term. But, under his own figures, it will climb right back up, totaling 5.5T dollars over 8 years. Just slightly worse than Bushes performance over eight years. Worse than that, the white house projections are based on a smaller than believable 1.2% contraction this year, 3.2% growth next year, and 4.0% growth in 2011 to get those, already poor, deficit numbers. Are they fucking insane?!!

Any thoughts that the economy will even level off next year are rosy. Claims of 3.2% growth is horribly irresponsible and misleading. Then four percent growth after his tax increases are imposed on the investment class? The same people who have the expendable income to keep consumer spending at suitable levels for sustained economic growth. Add to that, the huge amount of new regulations and red tape his, socialist democratic, congress is surely to impose on the banking and financial industry. These measures are sure to reduce the level of risk. Were all in favor of that. But they're likely to go too far and slow growth in those industries well beyond what is necessary. And, as we all know. Lower risk, almost always means lower reward. (Economic Growth)

Even those 95% of Americans that received Obama tax cuts will have a higher costs of energy and everyday purchases due to the implementation of his green $65B per year CO2 cap and trade system. This hidden tax will more than cancel any cut you received and make the struggle of our poorest citizens even more difficult. Initial estimates are $700-$1400 more per family per year for energy and a 5-10% increase in the cost of "energy intensive" products produced or shipped. (pretty much everything)

With so much "change" to come. And, at such an expense. Where is the boost of the economy to come from? It sure as hell wont be from the FDR style, Keynesian, socialistic spending measures in his, so called, recovery package. The government, wanting to spend at levels equal to 21, 22 or 23% of GDP, will slow growth, prolong our recovery, reduce revenues, and create a deficit and debt roughly twice what the Obama administration is projecting. This not only doubles the failures of the Bush administration, it commits more debt to our children and grand children than all the debts, from all previous administrations added together. A lowering tide..... drops all boats. Attempting to copy the European socialist model will only bring European socialist results.
This is not change we believe in. It's been done before, and it does not end well. His socialist attempt to make more of the American citizenry equally rich, by propping up the poor, will only result in making more American citizens equally poor, by punishing hard work and success. There is nothing responsible about steadily increased deficits for as far as the eye can see after the end of his first, and hopefully last, term in office. After reading this budget proposal, I find myself longing for the days of Bush. At least the great majority of his debt spending proposals were either pro-growth tax cuts, that increased government revenue, or spending measures designed to protect and defend our country.Then this budget gets really foolish by attempting to claim it actually contains savings. Two trillion in spending cuts, over a ten year period, to be exact. 1.5B of it by not continuing the war in Iraq through 2019. Again, are they fucking insane?!! Know one was going to keep the troops there that long! The other 500B in savings is by letting the Bush tax cuts for the upper income citizens expire. Since when is a tax increase on any group citizens a savings to government. As if all income belongs to the government, and their "allowing" these people to keep more of their money was a spending measure they no longer wish to continue. What?!!! That's right.! Government controls everything and we get the scraps. Now there's an ideology we can believe in.

Obama repeatedly states the upper income earners in our society are not doing enough, and the blame for the continuous shortfalls of our budget rests on them. Well, I did some checking on this and found more socialistic, class warfare B.S. (see below)

Below is a 2006 chart of the the American workforce in percentile groups. Followed by each groups percentage of all adjusted gross income(AGI), the adjusted gross income threshold of that group and their percentage of all the income taxes paid.

Percentile....% of income....Threshold....% of income tax

Top 1%................... 21.8%......................(>$388,806)..................... 39.9%
95-99%................... 15.4%......................(>$153,542)..................... 20.3%
90-95%................... 10.8%......................(>$108,904)..................... 10.6%
75-90%................... 20.6%......................(>$64,702)...................... 15.5%
50-75%................... 18.8%.......................(>$31,987)...................... 10.7%
Bottom 50%............ 12.6%.......................(<$31,987)........................ 3.0%

Now you would think in a heartless, capitalist society, that Obama claims we've lived in for so long, people would pay the same percentage in income taxes paid as their percentage of all income earned. All people, rich..poor...everyone. The poor make 12.6% of all income. To be "fair", they should pay 12.6% of all income taxes. But they don't, they only pay 3% . The richest make 21.8% of all income. To be "fair", they should pay 21.8% of all income taxes. They don't, they pay 39.9%.

So, let's be a little more progressive and move the unpaid portion of the poorest 50% of peoples taxes and send it up to the richest. It's kind of socialist, but lets call it compassionate conservatism. That would move the richest 1% from a 21.8% income tax burden, up to 31.4%. Well that's not enough. Lets make the richest 1% pay all the unpaid taxes of the poorest 75% of our workforce. This would bring them up to 39.5%!! Still less than they are currently paying! Even with the Bush tax cuts of 2003!

O.K., forget about the richest 1%. I think I've showed how they are already providing tax relief for three quarters of the country. Lets look at the next to the richest group. They pay 4.9% more of the income tax burden than their percentage of income. Why? Because the 75-90% group falls 5.1% short of their fair share. So if you tack on the tax welfare for the 4rd richest group, and add it to the 2nd richest, you get 20.5%. Their a little short, but pretty close to fair. The 3rd richest group almost hold their own and should be left alone. But, they too, fall a little short of fair. Obama is so off the mark. It's hard to believe he can see this and still claim foul. The numbers above indicate, in the name of fairness, the need for a 0.4% tax cut for the richest and a 0.2% tax increase for the next two richest groups. This means instead of giving the 1% of our country that truly deserves a cut, Obama chooses to target them as deadbeats and gives cuts to the 95% that don't.

The ugly truth that Obama does not want to admit to, is that the Bush tax cuts were a correction to the system. And, as percentages of income taxes are concerned, what we see above is pretty close to where they should be. Too high for the right, too low for the left, but really shouldn't be messed with. Obama will not be happy until the two lowest groups, 75% of our workforce, pay nothing. If he achieves this on the backs of the 6 million most successful Americans, our economy will be doomed and our government will be bankrupt. Obama will have created a society where 90 million people, of our 120 million man workforce, will be deadbeats in the eyes of fair people everywhere. All in the name of fairness.

I know what your thinking. More tax cuts to the rich? Wont that create even larger deficits and debt? Wont that make matters worse? The answer is no. The amount of money taxed out of our economy is fair. If government can't make budgets to match, we need a new government. I truly believe historians of the future will be studying this point in American life as the start of the peoples revolt leading to either a second revolution or an all out civil war. The people are angry! And this budget, along with all the bailouts and unrestrained spending since the housing collapse, has done nothing to ease that anger. Obama had an opportunity to really bring change, but traded it off for misguided political ideology and party harmony. The time for reducing governments size, cost, and its drag on our economy has come. Obama is attempting to reset the hands of time and ignore this need. If he wants to reduce the 14% of income taxes the poorest 1/2 of us pay. I'll have his back. But it has to be done through reduced spending, not socialist income redistribution schemes.

【免费咨询报名电话：010-6801 7975】

咨询报名MSN:xueliedu@hotmail.com
试一试网上报名
咨询报名QQ：