Posted on Friday, 27th February 2009 by Bruce
Patrick Mcilheran would like to remind you that the House raised federal domestic spending about 9% this week. In his words, “You knew that - didn’t you?”:
“The fact is that we’ll all pay. The president wants to make energy much costlier by selling the right to use any. This will be a tax built into the cost of every loaf of bread, every degree of winter heat, but by the time you notice it, it will be baked in and irreversible. That’s the point. That’s why this week’s $410 billion looting passed so quickly, with no chance to protest. It is part of a revolution that might not go down with the citizenry if they examined it closely.Not a revolution in how Washington does things. The 9,000 earmarks show that. What’s changing is the balance of power between people and government: The former will keep markedly less of what they earn and thus have less power. The government will have more.
This revolution will include, as well, a much more punitive view of success. That’s what Obama means by raising tax rates; it’s the direct translation of “spread the wealth around.” But whether he will stop with his present definition of rich - his tax hikes really kick in just over $200,000 - or whether Congress will even let him, the fact is that about $2 trillion of new spending in less than a month means the era of big government is back.
It’s happening before we realize it”.
As I reflect on McIlheran’s point about the changing balance of power between people and government, I was reminded of these words:
“Theoretically, there is nothing that can stop the government from taxing 100% of income so long as the people get benefits from the government commensurate with their income which is taxed…Certainly there is no limit to taxation if the benefits derived from public services by society measure up to the cost in taxation which they have to pay. It is a fallacy to say that there is this limit, and it is a fallacy to rely mainly on individual free enterprise to get the savings.”
Those words are contained in the writings of Barack Hussein Obama, Sr.
You wanted change. Hey, you got it.
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4 Responses to “Viva la Revolucion!”
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February 27th, 2009 at 9:35 am
Hey , all voted to tax their neighbors, they stood up and clapped when he said they weren’t going to be tax increases for people under making 250k. They stood up and clapped when he said he was going to give them health-care, well knowing it was going to come out of their pockets anyways. He announced his intentions for all to hear, and they’ve (the producers) started making adjustments. Companies are reducing work forces (~20%) and laying off, investers are leaving the stock market, people are still walking away from their debts, health insurance companies are winning and now even insured/protected by the government as banks, doctors are not getting paid and charging even more to those that do…
If you find yourself jobless, you will be unable to make your mortgage payment, no matter what. You have voted for the jobless formula above, what are you going to do next year when the stimulus/jobless formula leaves you again with no chance for a job and milk and bread cost $10per gallon and $10 per loaf.
A vote and a clap for Obama is a vote and clap to wait in line for government cheese and corn. Yeh, but at least we got quality health-care for the people that didn’t budget their money to pay the insurance companies backed by the government.
February 27th, 2009 at 12:27 pm
Of course he can’t stop at the $200k level….
“A tax policy that confiscated 100% of the taxable income of everyone in America earning over $500,000 in 2006 would only have given Congress an extra $1.3 trillion in revenue. That’s less than half the 2006 federal budget of $2.7 trillion and looks tiny compared to the more than $4 trillion Congress will spend in fiscal 2010. Even taking every taxable “dime” of everyone earning more than $75,000 in 2006 would have barely yielded enough to cover that $4 trillion.” -WSJ
And least we forget, many state govs are proposing/have passed like-wise fraudulent lets-get-the-rich tax hikes, including our own.
This and Obamamama says he’ll cut deficit in half by 2013.
If it all wasn’t so insane, I might be able to laugh at that.
February 27th, 2009 at 12:33 pm
oh,and this…
“It’s happening before we realize itâ€.
Um. No. Many of us realized it on Nov 5,2008.
February 27th, 2009 at 1:15 pm
I talked to a banker I know today. He lives in Orlando and is employed by the former Wachovia. As we chatted I pointed out that Obama had no Economic expertise before he was elected, why is he all of a sudden some sort of wizard? He didn’t have an answer, but still supported Obama’s moronic policies. None of the friggging geniuses that are proposing this nonsense have any experience outside of government.