Barack Obama held a press conference today on taxing the rich.
The president knows that raising taxes will not fix the looming fiscal catastrophe. Only, cutting spending will save America. But Obama has no intention of cutting spending. Neither to Democrats. They don’t care about what our children and grand-children will face.
Here’s the proof.
FOX Nation reported:

Obama’s plan won’t put a dent in the deficit. It won’t put a dent in the debt.
The Dallas news reported:

The president says raising tax rates would help solve our long-term debt problem, but it’s hard to take this argument seriously, for two reasons.

First: According to the president’s own Treasury Department, the tax increases he is advocating would generate $85 billion in new revenue next year. By comparison, the monthly budget deficit in October was about $120 billion, and the total deficit for fiscal year 2012 was roughly $1.1 trillion.

In other words, the proposed tax hikes would still leave us with a trillion-dollar deficit. Meanwhile, they would do significant damage to our fragile economic recovery.

Simply put: We cannot tax our way back to budget surpluses and economic prosperity. Without major spending cuts and entitlement reforms, we will continue running huge deficits, regardless of what we do on the revenue side.

 

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  1. But of course he has a plan… to Destroy
    (see Marx, Lenin, Cloward-Piven, Muslim Brotherhood, any questions?)

  2. Hey, we’ve known this since January 2009 so what’s the big story?

  3. The ONLY cuts that Democrats can agree on are future cuts that they never have to deliver on. And Republicans have been falling for that same routine for decades! And will likely take the bait this go-round.

  4. Onc again, Obama doesn’t care. His whole plan is to destroy the U.S. economy, not fix it. It is payback – he hates you all.

  5. Simply put: We cannot tax our way back to budget surpluses and economic prosperity.

    The solution is simple: Do nothing – let the “fiscal cliff” happen. Let the phony cuts with tax increases take effect and as things worsen make sure that the blame is pinned on Obie and his Democrat comrades early, and often (the “often” part can’t be overstressed). We got to where we are by profligate spending, the majority of it courtesy of the idiot currently in the White House.

  6. The Dallas news reported:

    More BS. They didn’t REPORT this. It was an opinion piece.

  7. Leftists tried the same trick they used during the Reagan years today – tax increases now – spending cuts next year.

    Let it all go over the cliff – I want to see deflation at work.

  8. Let. It. Burn.

  9. It seems like washington is just one big reality show. If it is not one ‘sky is falling’ problem, it is multiple ones at a time, which get swept under the rug by the next one. I’m kinda hoping for a Thelma & Louise moment. Crash. Burn. Rebuild. … possible?

  10. Unfortunately, it looks like the only way we are going to be able to save our great country is to watch the Dems destroy our economy. Only after we hit rock bottom will the Obama robots believe their Golden One is wrong. Once that happens we will all have to put our country back together again. It will be hard. But I know we can do it. We are the Americans that made this country great!

  11. Get gold and silver, guns and ammo, and food, while you still can.

  12. ++

    btw, the video was censored at FaceBook..

    ==

  13. What’s a plan? His Democratically controlled Senate hasn’t submitted a budget since 2008 and were rewarded by the voters with Senate gains. Let’s face it, when it come to spending BS talks, money walks. As longs as Chairsatan Beranke can print up $200B a month to cover his graft why would he need a plan anyway? Who needs ‘em? So long as the good ‘ol USA is the world’s reserve currency we can do whatever we like.

    Oh wait, this just in from Zerohedge:

    http://www.zerohedge.com/contributed/2012-11-28/welcome-currency-war-part-5-dollar-gets-serious-competition

  14. “He doesn’t even have a plan.”

    ????

    Of course he does, Jim. Cloward-Piven Strategy. Brewster’s Millions. Spend it all and you win! You won, so spend it all!

    The union which bankrupted Hostess used the same process, to bring the company to “unsustainability”.

    And it worked for them. It will work for Obama.

  15. I just do not understand why so many people do not understand that we are talking about the income tax rates. Not a wealth tax.

    Warren Buffett, who has yet to pay his tax bill, pays himself less than he pays his secretary. He is already wealthy and does not need to pay himself a large salary. He talks alot about taxing the rich because he has already made his fortune and this keeps him from being a target. Barry is himself now wealthy with an estimated net worth of over $9 million. Same for Pelosi, Kerry’s wife (he has not much money of his own), Harry Reid, Hollyweird types, Bill Gates, and the whole gang of miscreants.

    If they were really serious about the fiscal health of this country, they would ease regulations, open up federal lands for drilling and just get the hell out of the way so those in the private sector can do what they do best. Creating jobs. Government creates nothing.

    Sadly, there are far too many greedy citizens who think that they are entitled to benefit from someone else’s labor. I would bet most of them are just down-right lazy.

    And, people, there is not enough wealth in this country to support a bloated bureaucratic bastion for more than a year. Under this regime’s plan, there will be far fewer people, if any at all, who will be able to accumulate any level of wealth which should make all you whiny lib losers happy.

  16. Michelle spent TEN MOTHERF**KING MILLION DOLLARS (that we know of….) just on vacations in four years for her and her entourage. Don’t doub’t that she’ll double that figure this year, and probably her figure, too — girth-wise — as she continues to be our un-elected Here’s-What-You-Can-Eat Czar.

    Spend it all and you win. That’s the M.O. (and the modus operandi, for that matter).

  17. Obama has a plan to INCREASE spending – to further drain the American economy as bone dry as he can.

    Why would anyone think he would waste time trying to build the economy he has been working all his life to destroy? SOMETHING HE HAS NEVER LIFTED A SINGLE FINGER TO DO ONE THING FOR!

    That doesn’t make sense for people to waste time discussing WHAT KIND OF PLAN HE HAS to FIX it. LOL!



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