Watch a presentation by Katie Pavlich, author of “Fast and Furious: Barack Obama’s Bloodiest Scandal and Its Shameless Coverup” to learn more about this scandal.
The U.S. House voted to pass Ron Paul’s “Audit the Fed” bill by a vote of 327-98! See who voted for and against it: http://clerk.house.gov/evs/2012/roll513.xml
Now it’s on to the Senate where a vote will be more difficult.
Call your Senators at 202-224-3121 in support.
Published in the Washington Times on July 18
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Yesterday’s CBO report on taxes and household income from 1979 through 2009 is being played by the media largely as a finding that the average tax rate paid by Americans has fallen to a lower level than at any time in the past 30 years. The desired implication is that taxes are just too low, and must be increased. The more responsible news stories include the fact that, under our progressive tax system, the decline in incomes is primarily responsible, as people find themselves dropping into lower tax brackets.
What most of the media are ignoring are the report’s findings concerning the tax paid by wealthy Americans. Revealing this would undermine President Obama’s mantra that increasing taxes on the wealthy is the key to reducing the deficit.
The top 1% already pay 39% of all Federal income taxes, and the top 10% pay 78%. The top 20% pay 94%. The bottom 40% pay less than nothing (i.e they receive refundable tax credits that more than offset any small amount of tax that may have been withheld.
Wealthy Americans are not an untapped resource, just waiting to be fleeced by the Federal government. They are already providing most of the government’s income tax revenues, and can reasonably said to be paying more than their fair share.
It is also worthy of notice that when Ronald Reagan was President, the share of income taxes paid by the top 1% went from 17% to 27%. Under George W. Bush, it rose from 36.6% to 42%. In both cases this was partly because the so-call “tax breaks for the rich” actually reduced taxes across the board, and even dropped some lower income people from the tax rolls entirely. It was also partly because the lower rates encouraged investment in economic activity that produced more taxable income.
Ironically, during Obama’s first year in office, the top 1% saw their share decline to just 39%, three points lower than under Bush.
James Glassman has a very useful column today examining the deficits run by recent presidents. He puts the Obama deficits in a perspective that is much more accurate than what the President’s apologists would have us believe.
Please call your Representative TODAY urging them to sign the letter to Speaker Boehner to take action to DEFUND ObamaCare.
The letter must be signed before the end of the day on this Friday, the 13th.
Please pass the word, we don’t have much time!
US Capitol: 202-224-3121
The Conservative Caucus Chairman Peter J. Thomas today applauded Congress for listening to Americans and voting to repeal ObamaCare.
Speaking today from his home state of New Hampshire, he said “Today’s vote in the House of Representatives shows Congress has the votes and is serious about fully repealing ObamaCare in January; it is truly a citizens’ victory against a dangerous socialized medicine scheme.”
Thomas warned, “However Americans must be alert that beyond today’s symbolic vote, in January the special interests and liberal media will be on the attack, and heavy pressure will be targeted at moderate and liberal Republicans to sell out their voters and vote to save President Obama’s radical legislative agenda.”
The latest Rasmussen poll shows Americans want the law repealed by a wide margin; 53-41.
Thomas continued, “Today’s vote sends the bill to the Senate where it will be buried by the left-wing-controlled leadership; simply, we won’t be able to repeal it until we have a Senate more responsive to the American people.
Thomas concluded his statement, urging that “Americans should call their Senators and demand they repeal this socialized medicine law and enact true reforms.”
Mr. Thomas is available for interviews, and can provide details of possible conservative health reform bills. Bio: http://conservativeusa.org/peter-thomas-bio.htm
The Conservative Caucus (TCC) is a grass roots public policy action organization, formed in 1974. It was active in opposing the passage of ObamaCare, defeating the SALT II Treaty, repealing the Catastrophic Coverage Act, blocking the Clinton health-care takeover, and having the U.S. House of Representatives impeach President Clinton.
Although you would have to read the Washington Post story carefully to know it, social mobility in America is alive and well.
The Post story, by Annie Gowen, tells us gloomily that 43% of those who are born into lower class families stay in the lower class, and that 40% of upper class children remain in the upper class.
Another way of looking at that is that a majority — 57% — of lower class children rise to at least middle class status. An even larger majority — 60% — of the wealthy will not remain wealthy, proving that merely inheriting money is no guarantee against dropping into the middle class or lower.
The liberal argument that the Death Tax is needed to prevent the wealthy from making their descendents a permanently wealthy dynasty turns out to be groundless.
President Obama announced yesterday that he wants to extend the Bush tax cuts for many Americans – but only for one year. There was no mention of his previous policy of making the tax cuts permanent for those making less than $200,000.
Looking carefully at Obama’s exact words, he carefully hedged his support for extending the middle-class and lower-class tax cuts – ” not when so many folks are just trying to get by” and “Not when so many folks are still digging themselves out of the hole”.
If Obama really believes that the deficit should be reduced by tax increases, while spending programs are protected, he has no choice but to raise taxes on the middle class. Taxes on the wealthy are already so high that the Federal government cannot squeeze much more from them.
A few years ago, liberal pundit E. J. Dionne said that the reason for increasing taxes on the wealthy was to make it possible to then raise taxes on the middle class – i.e. only after sticking it to the wealthy might the middle class be reconciled to accepting a tax increase. Democratic Minority Whip Steny Hoyer has suggested that the middle class might have to give up the Bush tax cuts, and former OMB Director Peter Orszag has openly called for full repeal. Obama seems to be nearly ready to join them – but only when the election is over.