As I understand it, this refers to those who ostensibly want to improve the lives of the less fortunate, but are really more interested in making the more fortunate feel pain. In other words, punishing success. They can be recognized by their continual use of the word "fair."
Here's an excerpt from the transcript of a debate held in April, where Barack Obama uses the "F" word. The subject is whether or not to raise the capital gains tax:
MR. GIBSON: And in each instance (when the capital gains tax was lowered under Clinton and Bush), when the rate dropped, revenues from the tax increased. The government took in more money. And in the 1980s, when the tax was increased to 28 percent, the revenues went down. So why raise it at all, especially given the fact that 100 million people in this country own stock and would be affected?
SENATOR OBAMA: Well, Charlie, what I've said is that I would look at raising the capital gains tax for purposes of fairness. We saw an article today which showed that the top 50 hedge fund managers made $29 billion last year -- $29 billion for 50 individuals. And part of what has happened is that those who are able to work the stock market and amass huge fortunes on capital gains are paying a lower tax rate than their secretaries. That's not fair.
There it is - "Fair." It's not fair? People who work their tails off in a highly risky business make money and that's not fair? And Senator Obama is willing to LOWER revenues to the government in order to punish them for that?
Who gets to decide what "fair" is? Who gets to decide how much of your money you should actually get to keep? What is Fair? 30% of your income? 50%? I read recently that if Obama enacts his economic plan, the highest marginal rate will be 58% in New York and more than 60% in California (this is a combination of the federal and state taxes.)
But not for the revenue. For "fairness."
No comments:
Post a Comment