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Tag Archives: Bush tax cuts

Obama: Paying More Taxes is “Patriotic”

President Obama today said it was “patriotic” of “well-to-do Americans” to pay higher taxes.

Obama, who spoke at the White House, indicated the money would be used not just for paying down the deficit, but for broad new spending plans, which he termed “investments” in “things like” education:

Instead of the middle class paying more, we should ask the wealthiest Americans to pay a little more, a modest amount, so that we can reduce our deficit and still make investments in things like education that help our economy grow . . . And here’s the thing — there are a lot of well-to-do Americans, patriotic Americans, who understand this and are willing to do the right thing, willing to do their part to make this country strong.

Obama made the remarks during a short speech in which he called on Congress not to extend the Bush tax cuts for higher earners. A video of the appearance is below.

Paying more income taxes and having your money spent by the government is not normally associated with patriotism. Actually, Americans managed to show their patriotism without hardly paying income taxes at all until 1894, when the first permanent income tax was enacted.

Some people have another term for individuals who want to pay more taxes to a government that currently is spending at the highest share of GDP since World War II: Suckers.

Obama Says Tax on Wealthy is Really a Penalty

In an exclusive interview with White House Dossier early this morning at the White House, President Obama denied that he was proposing raising taxes on those making more than $250,000 per year, terming the idea a “penalty on success” instead.

“Isn’t that what conservatives call it?” Obama snickered. “So, there you go.”

Obama, who was found by White House Dossier ducking behind a tomato bush with a cigarette in the first lady’s vegetable garden, agreed to participate in a brief interview on the condition that White House Dossier not reveal that he was smoking.

The president, who was also sipping a milk shake, said people who make over $250,000 a year were abusing others and neglecting their responsibilities.

“Nobody claws their way to the top without stepping on some corpses,” Obama said. “By taking so much time to earn large salaries, these folks are either grabbing money that others could have or taking time away from their obligations to perform social work and prevent Japanese whaling. So a penalty is clearly in order.”

Obama argued that people who make more money had inherent advantages over those who do not.

“Just because someone was born with a willingness to work hard doesn’t mean he should prosper while someone who had the misfortune of being born lazy should not,” Obama said.

“I would argue that lazy people are in particular need of big screen TVs,” he continued. “My proposal would allocate some of the new cash the government receives to allow lazy people to purchase big screen TVs. And of course, remote controls.”

Obama insisted that the “penalty” would actually help small businesses people who incur it.

“People who run small businesses work too much, neglecting their families, their health, and their golf,” Obama said. “If I can tax them out of business, they can start working eight hours a day at a convenience store and lead happier lives.”

Obama denied that making his plan to penalize the rich a central portion of his campaign amounted to class warfare.

“Was it class warfare when Marx said, ‘Workers of the world unite?’ Or when Lenin lopped off the heads of the Kulaks? I don’t think so.”

It was at this point that White House Chief of Staff Jack Lew interrupted us.

“Mr. President, your shrimp cocktail is waiting for you in the Oval Office.”

Obama nodded. “Well, Keith, I’ve got to go. I have to take care of some of the nation’s important business during a meeting with my shrimp cocktail, and then I’m off to campaign.”

With that, he was gone. The president is spending the rest of the day on the campaign trail in Virginia.

CNN: Obama Tax Plan Will Cut GDP by One Percent

CNN is reporting that President Obama’s proposal to raise taxes on the highest earning Americans could take a one percent bite out of GDP.

Interestingly, the reporter, Erin Burnett, is a former leading reporter for CNBC and one of the few news anchors who actually understands economics.

Soaking the rich will harm the poor. With government spending at hits highest proportion of GDP since World War II, it says a lot about an Obama second term that his major focus is to raise taxes.

Obama’s Huge Tax Bill Victory

House Democrats stopped flailing against the tax bill long enough Thursday night to pass it, sending the measure to President Obama for a signing ceremony today that should be preceded by a victory dance at the Kennedy Center’s Eisenhower Theater. President Clinton and Dick Morris sent telegrams to the president early Friday morning congratulating him… Continue Reading

Albany PTA Chairwoman Backs Tax Cut Deal

In one of the oddest pressure tactic campaigns I’ve seen in Washington, the White House is releasing dozens of statements of support from local officials praising the agreement with Republicans to temporarily maintain the Bush tax cuts. Here’s the latest mayor to hop aboard, in a statement released at 5:00 pm: Des Moines Mayor Backs… Continue Reading

House Dems Reject Obama Deal With GOP

The House Democratic Caucus has voted to reject President Obama’s deal with Republicans on extending the Bush tax cuts, throwing the issue and Obama’s vacation into uncertainty. House Speaker Nancy Pelosi will not put the agreement on the floor until it is changed in some unspecified manner. Speaking this afternoon to reporters, White House Press… Continue Reading