Tag Archives: Socialism

Joe Biden On Taxes: You Call It “Redistribution Of Wealth,” I Call It “Just Being Fair”

In part two of my exclusive interview, I asked the Vice President whether we can afford these tax cuts, given the country’s massive federal deficits. Biden’s view is that we can’t afford not to do them: “We can’t afford to leave the middle class behind,” he says. “These things matter to people who are struggling and they matter to people who have lost their jobs as well.”

There’s also the issue of whether these tax cuts, in conjunction with the health care reform bill signed last week, represent a redistribution of wealth in America, as many claim.

“It’s a simple proposition to us: Everyone is entitled to adequate medical health care,” Biden says. “If you call that a ‘redistribution of income’ — well, so be it. I don’t call it that. I call it just being fair — giving the middle class taxpayers an even break that the wealthy have been getting.”

The top quintile of Americans earned 55.7% of pretax income and paid 69.3% of federal taxes in 2006, according to the most recent CBO data. But the Vice President isn’t buying the idea that the wealthiest are already paying their fair share, noting the top 1% of earners get 22% of all income made in the U.S.

“Taxes have been lowered for the wealthy considerably over the years,” he says. “It’s about time we get a little tax equity here.”

Read the entire Article and Watch the Video Here:  Joe Biden On Taxes: You Call It “Redistribution Of Wealth,” I Call It “Just Being Fair”.

Advertisements

Leave a comment

Filed under "fairness", Barack Obama, Economics, Entitlements, Government Spending, Joe Biden, Redistribution of wealth, Socialism, Taxation, Welfare

Boehner: Congress Should Heed Employers’ Warnings Rather Than Interrogating Them About Effects of Job-Killing Health Care Law

House Republican Leader John Boehner (R-OH) issued the following statement on upcoming hearings called by Rep. Henry Waxman (D-CA), chairman of the Energy & Commerce Committee, to intimidate employers who are warning that the job-killing new health care law will increase their costs and hamper job creation:

“Throughout the past year, American employers have warned that the health care policies being promoted by President Obama and his Democratic allies in Washington will hurt our economy and make it more difficult to create jobs.  Yet now that those policies have become law over the objections of the American people, Congressional Democrats such as Chairman Waxman profess shock and surprise at hearing American employers announce that they will have no choice but to make painful changes to comply with it.  The new health care law is a job-killer, and we are already seeing the negative impact it is having on our economy.

“Just as important, the law’s new cost increases and mandates are forcing employers to consider dropping health coverage for their employees and retirees altogether, which would force even more Americans into the unsustainable Medicare and Medicaid systems.  Instead of interrogating America’s private sector job creators, Congress should be listening to them, heeding their warnings about the effects of this deeply flawed new law, and replacing it with reforms that will help them get back to creating jobs.”

In a memo sent to House Republicans last Thursday, Leader Boehner urged Republicans to focus on the economy as they discuss the new health care law with their constituents during the congressional district work period.  In the memo, entitled “Where are the Jobs?  Not in President Obama’s Health Care Law,” Boehner echoed more than 100 economists who have warned that President Obama’s massive new law will hurt the economy and make job creation more difficult at a time of nearly double-digit unemployment.

NOTE: In the days after President Obama signed the new health care law, America’s employers began warning shareholders and employees about higher health care costs that would result.  AT&T announced it would bear $1 billion in higher costs, Deere & Co., $150 million; Caterpillar, $100 million; AK Steel, $31 million; 3M, $90 million; and Valero Energy, up to $20 million. Similar announcements are expected in the coming days and weeks.

via Boehner: Congress Should Heed Employers’ Warnings Rather Than Interrogating Them About Effects of Job-Killing Health Care Law | Republican Leader John Boehner.

Leave a comment

Filed under Barack Obama, Big Government, Capitalism, Congress, Conservatives, Constitution, Economics, Government Spending, Healthcare Reform, Jobs, National Debt, Organized Labor, Progressives, Socialism, Sovereign Debt, Taxation, United States of America, USA

The Tax Foundation – Basic Facts on Redistribution and the Impact of Obama’s Policies

Introduction

The debate over taxing high-income families to fund the expansion of health care coverage in America has renewed the broader question of government’s role in redistributing income through tax and spending policies. What is missing from this debate is some hard numbers on how much current tax and spending policies redistribute income from some Americans to others and how much the policies advocated by the Obama Administration will change the overall amount of redistribution.

The Tax Foundation’s “Fiscal Incidence” project has filled this void by first calculating how much current tax and spending policies are redistributing, then estimating how much President Obama’s policies—from taxes to health care to climate change—will alter that redistribution. Simply put, the Fiscal Incidence Model[1] compares the total amount of federal taxes families pay (such as income taxes, excise taxes, payroll taxes, etc.) to the total amount of government spending they receive (such as entitlement benefits, defense spending, public works, etc.).

How the Money Comes and Goes

We divide American families into ten equal groups by income level, and at the top end of the spectrum, we are able to break that 10 percent down into smaller groups. In general, as anyone would expect, families who earn more pay more in taxes than they receive in benefits while families who earn less receive more in federal spending than they pay in federal taxes. These individual results are then summed up into a national picture of how much tax and spending policies redistribute income from some American families to others.

READ THE REST OF THIS ARTICLE HERE:  The Tax Foundation – Basic Facts on Redistribution and the Impact of Obama’s Policies.

Leave a comment

Filed under Barack Obama, Big Government, Capitalism, Constitution, DEFICIT, Dollar, Economics, Entitlements, Government Spending, individual rights, IRS, Liberals, Limited Government, Lobbying, Medicaid, Medicare, Organized Labor, Progressives, Social Security, Socialism, Sovereign Debt, Stimulus, Taxation, TREASURY, United States of America, USA, Welfare

New Taxes for Health Care Help Obama ‘Spread the Wealth Around’

It snowed here in Texas over the weekend – must have been a precursor to HELL FREEZING OVER.  The following is from BLOOMBERG.  To quote Bill Engvall “THERE’S YOUR SIGN”

I must say that it is disturbing how “matter of fact” this article is.

President Barack Obama said on the campaign trail in October 2008 that he wanted to “spread the wealth around.” With Obama on the verge of signing sweeping health-care overhaul legislation, he’s about to do just that.

High-income investors would pay higher Medicare taxes, tax breaks for out-of-pocket medical deductions would be curtailed, and it would cost insurance companies more to pay executives millions of dollars. Those levies will help fund expansion of Medicaid services for the poor and subsidize health insurance to cover millions who don’t currently have benefits.

“It’s very clear that taxes are levied on the wealthy and the benefits will spread across the entire income distribution, with a lot going to expanded Medicaid distribution and expanding health insurance,” said Roberton Williams, an economist at the Tax Policy Center, a Washington research institute backed by the Urban Institute and Brookings Institution. “One couldn’t claim he didn’t keep that promise” to “spread the wealth around.”

In all, the bill would generate $409.2 billion in additional taxes by 2019, according to an analysis by the congressional Joint Committee on Taxation, a nonpartisan agency. The bill also imposes about $69 billion more in penalties for individuals and businesses who don’t meet mandates to buy insurance, according to theCongressional Budget Office, another nonpartisan agency.

READ THE REST OF THE ARTICLE HERE – New Taxes for Health Care Help Obama ‘Spread the Wealth Around’ – Bloomberg.com.

Leave a comment

Filed under 10th Amendment, Article 1 Section VII, Barack Obama, Big Government, Congress, Constitution, Cronyism, DEFICIT, Dictators, Economics, Elections, Entitlements, Government Spending, Healthcare Reform, House of Representatives, Ideology, IRS, Medicaid, Medicare, Progressives, SEIU, Socialism, United States of America

Barack Obama, Fabian Socialist

Barack Obama is a Fabian socialist. I should know; I was raised by one. My Grandfather worked as a union machinist for Ingersoll Rand (nyse: IR – news – people ) during the day. In the evenings he tended bar and read books. After his funeral, I went back home and started working my way through his library, starting with T.W. Arnold’s The Folklore of Capitalism. This was my introduction to the Fabian socialists.

Fabians believed in gradual nationalization of the economy through manipulation of the democratic process. Breaking away from the violent revolutionary socialists of their day, they thought that the only real way to effect “fundamental change” and “social justice” was through a mass movement of the working classes presided over by intellectual and cultural elites. Before TV it was stage plays, written by George Bernard Shaw and thousands of inferior “realist” playwrights dedicated to social change. John Cusack’s character in Woody Allen’s “Bullets Over Broadway” captures the movement rather well.

Arnold taught me to question everyone–my president, my priest and my parents. Well, almost everyone. I wasn’t supposed to question the Fabian intellectuals themselves. That’s the Fabian MO, relentless cultural and journalistic attacks on everything that is, and then a hard pitch for the hope of what might be.

That’s Obama’s world.

He’s telling the truth when he says that he doesn’t agree with Bill Ayers’ violent bombing tactics, but it’s a tactical disagreement. Why use dynamite when mass media and community organizing work so much better? Who needs Molotov when you’ve got Saul Alinski?

read the rest here: Barack Obama, Fabian Socialist – Forbes.com.

Leave a comment

Filed under Barack Obama, Cronyism, Economic Collapse, Economics, George Soros, Government Spending, Ideology, Liberals, Organized Labor, Progressives, Socialism, Welfare, World News