Did you see Glenn Beck yesterday? He had a video of Austin Goolsbee, Obama's new Chairman of his Council of Economic Advisers, trying to explain why a tax cut for the "wealthy" was a bad thing and would cost the U.S. mucho bucks. He was talking about the wisdom of extending the "Bush Tax Cuts" to all Americans. But I think Mr. Goolsbee, though he's supposed to be an economist, doesn't know squat about taxes.
This is the thing, Mr. Goolsbee. When you take more money than you currently are taking, that's a TAX INCREASE. When you are not paying $100,000 in taxes one year but you will pay it the next year, that's a TAX INCREASE. THIS IS NOT A TAX CUT.
If the Bush Tax Cuts that have been in place for the last decade are preserved for all Americans, the government tax collection stays the same.
Goolsbee says the government will have to borrow $700 billion to cover the "tax cuts for the wealthy." But this is not a TAX CUT. It is a TAX INCREASE. So why would the government have to borrow $700 billion to cover money that they are not currently getting? How can it cost anything when the money isn't currently coming in? That's like hoping you get a $500 per month raise at work and then one morning telling your boss that if you don't give me a $500 per month raise, it's going to cost me so much money I'm going to have to borrow $500 every month to cover the raise I didn't get. The point? Why would you have to borrow $500 per month to replace money you were not getting in the first place? This is precisely what Obama wants to do.
Republicans want the Bush Tax Cuts extended to ALL Americans. Under the GOP plan you earn, the government does not take more of your money, so you keep the money you earn. The amount taken by Uncle Sam remains as it has been for 10 years.
Under the Obama plan, you earn, the government takes more of what you earn and spends it on someone else, like the unions, or whatever people or group Obama likes at the time, and you have less for your own needs.
Well, I have a message for Obama. THIS ISN'T YOUR MONEY TO TAKE AND GIVE AWAY TO SOMEONE ELSE! Our hard earned money is not YOURS. And quit saying you are giving people tax cuts. This is not a tax cut. It is a TAX INCREASE. A tax cut is giving people more money. A tax cut is when the taker does NOT take more of our money. This is an important distinction. Extending the Bush Tax Cuts costs the government absolutely nothing extra.
Obama, the rich are not the enemy. They are the employers, the job creators, the philanthropists, the primer of our economy. Right now they are scared to do anything because your policies are creating uncertainty on every front.
Americans need to know that this is a government game. We are being played for fools. This is class warfare, and it is a big, fat lie. Obama's top economic advisor tries to tell you your money is theirs, you have no right to it. But it is yours. You should be able to choose when to share your money and whom to share it with.
Tell the government that No, We Will Give No More. Keep all Bush Tax Cuts in place forever. Tell them to balance the budget and QUIT SPENDING instead of playing the Money Grab Game.
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