Taxing The Rich

On the news the other day, there was a report about the 50% of Americans who do not pay any federal income tax. One of the "experts" in the report remarked that he was less concerned about the 50% who do not pay any tax and more worried about the people who are making twice what they made a few years ago, but are paying taxes at a lower rate than they were a few years ago. I took that thought and plugged in some numbers. Say you made $500,000 a year three years ago and paid federal taxes at a rate of 40%. That would be $200,000 in taxes. Three years later you are now making $1 million a year, twice as much as 3 years before. Today let's say you are paying at a rate of 35%, totaling $350,000 in taxes. So three years ago you paid $200,000 and today you are paying $350,000. Yes, you are paying at a lower rate, but you are paying $150,000 more in taxes. That is a substantial increase of revenue for the federal government. In the words of Barack Obama, you would think they would be thankful; after all, they did not have to do anything. You did all the hard work, you were the one who doubled your income.

This is the slight of hand that pundits and experts use to shift the discussion in their favor. This is how they demonize the rich. And this is the same game that Obama plays. He can only save us if there is monster hiding behind a tree, so he spends his days inventing new monsters: big business, lobbyists, tea party supporters, George Bush, special interests, good tasting food, financial institutions, insurance companies, doctors, and yes . . the rich. The great unifier? Hardly. Obama, seeing himself as both savior and great leader, believes he is unifying the country against these monsters. He alone can slay them, cut them down in size, bringing equity to all. Is it possible that Obama will ultimately destroy the foundation of our country in his quest for this victory? Let's hope the will of the people, which in most cases opposes the Obama agenda, will ultimately be heard. Otherwise we are in big trouble.