Thursday, January 17, 2013

Obama and Shared Sacrifice

Ok, so why am i thinking about Obama and rolling my eyes in disdain this time? 

Obama has long brought up the concept of "shared sacrifice" to justify tax increases to the other 53% or so of the population.  What he really is saying has nothing to do with "shared sacrifice" - it is a completely targeted forced "sacrifice" based on jealousy.  If you want "shared sacrifice" (otherwise known as "give me your money or else") everyone has to feel the pain.  Nobody should be excluded for any reason.  This should only deal with income like wages (not illusionary "capital gains" or interest income).       

The real end-game for Democrats here is to tax the better off at a higher rate so that they can institute more vote buying schemes for the lower and lower-middle-class.  None of these will solve any problems like debt (and governmental debt is a form of future taxation in itself), fiscal responsibility, etc. 

Mitt Romney's statement about the 47% or so was right.  Basically this group pays virtually no federal income taxes (any other form of taxation is not relevant to the discussion).  This group is definitely always on the cusp of voting Democrat.  Who would have thought that people would vote for you if they give them money?  The government is well positioned to exploit this and foster further dependence.  Governmental dependence is a bad thing.   

The lower-class and the lower-middle-class are pretty much under taxed relative to their income.  Much of this is due to ill advised tax credits/deductions that could be seen as a form of social engineering.  There should be no governmental incentivization for debt financing (like mortgages), no tax breaks for personal decisions (like having kids), no tax breaks for college tuition (once again a personal choice).

No comments:

Post a Comment