Since first running for office, Barack Obama has been pelting the electorate with scathing comments regarding “millionaires and billionaires.” He continually tells the people, “the Bush Tax cut for the rich, hurts the people” and “the Bush tax rate is the reason we have so much debt right now.” The President purports that it’s unfair that the rich do not pay their fair share of taxes.
Now, let’s be clear: President George Bush cut taxes across the board, not just for one group or another, everyone got a tax break.
In fact, Bush removed more taxpayers from the rolls with his tax cuts, and they were not the rich. These cuts took the marginal lower income people off the rolls. That alone should have killed the Presidents argument that this was a give it back to the big corporation tax cut. But nobody was calling him on it. Consider the President called!
Taking to task Obama’s clarion call, that ”the Bush tax cuts hurt the federal coffers,” Obama continually claims “we” need more revenue.
Geithner & liberals in lock-step on Meet the Press say the Republicans are the bad guys, because they are against the tax hikes on the rich. So the question that has yet to be answered is, just how much did the Bush tax cut hurt the revenue stream and how do we fix it?
Let’s first look at the IRS revenue collected from 2000-2010. This is important, because the actual revenue clearly depicts the “devastating impact” the Bush tax rate “gives to the rich.”
Is the President looking at the same numbers as the IRS? How can total collections go up every year?
There can be no argument where those revenues came from. It certainly wasn’t from the lower income Americans, who pay no income tax. They were pushed off the taxpayer rolls by these 2001 cuts.
So, what about job growth? The left and media are screaming that Bush’s cuts had no effect on business growth.
One wonders where they get these numbers.A group called Citizens for Tax Justice (the name alone tells you what they believe). Actually created a page on the web decrying the Bush Era Tax cuts and what they cost America. Let’s have a look at a graphic from their page.
There is no doubt that since the housing and financial failure of 2008 ( do your own research on what caused the bubble) that revenue to the federal government has gone down. But at the same time the Federal Government at the direction of the Democrats and Barack Obama began spending more.
Oddly, this is the same time that the Senate stopped voting on a budget and since 2008 the United States of America thanks to the US Senate has been in violation of the Constitution. The Senate as a body should be impeached just on that one fact.
Let’s revisit the IRS site to see the effect that “Bush’s crony capitalism” had on business. Keep in mind Obama’s mantra, that lower tax rates means less money for the government.
Look at all the money that the rich businesses kept from 2001 to 2008. Corporate tax collection more than doubled before the bubble burst.
Exposing the lies of this administration is easy, but making people understand they’re being lied to is difficult. The media is busy doing stories on layaway nightmares for Christmas and hair and makeup tips from the stars. In the meantime, the men and women we elected to protect and defend the Constitution are ripping it to shreds right before our eyes.
Stop being fooled go to any government website and read what they are doing. You are being set up by a leftist agenda.