‘Mr. Obama, we don’t have a tax problem, we have a spending problem’
Libertarian National Campaign Committee Chairman Wayne Allyn Root, writing this morning for Fox News about Obama’s plans to use redistribution to bankrupt his opposition and reward his supporters, says in part:
“Our government is addicted to spending. It doesn’t matter what the tax rate is. It doesn’t matter how high the tax revenues. We could raise tax rates to 90% and government would still spend $1.40 for every dollar it takes in. So why are we blaming the victim (taxpayers) for the national debt?…
“…If President Obama got his way federal income taxes would hit 40% or higher. And he’d take the cap off FICA taxes. And he’d dramatically reduce or eliminate mortgage, charitable and business deductions. And then just for fun, he’d add a national VAT tax. Now add in the new taxes for ObamaCare. Add it up.
“Americans would face tax rates approaching 70%. And this time there is no cash economy. The government would take 60 to 70 cents of every dollar we all make, while we do all the work. The mafia has nothing on the government!
“So why is Obama playing fast and loose with the facts? Taxes aren’t low and he knows it. And the increases he desires aren’t small or fair, and he knows it.
“Our government is heavily in debt, and Obama needs to find targets of opportunity (i.e. victims) to pay the bills, so America doesn’t go bankrupt on his watch.
“Second, Obama’s only chance at re-election is to redistribute billions of dollars to his voters and campaign contributors in the way of entitlements, welfare, food stamps, stimulus, and green energy ‘investments’ by government.
“Third, by targeting, demonizing and punishing small business owners and high-income earners (the people who make almost all the contributions to conservative causes and candidates), Mr. Obama can starve his political opposition. If taxes are higher on the rich, then the president’s opposition has no money left to give to conservative candidates…”
Read more at http://www.foxnews.com/opinion/2012/02/13/mr-obama-dont-have-tax-problem-have-spending-problem/
