All the very public battles over taxes with Barack Obama constantly saying taxes had to be raised on the wealthy in order increase revenue to pay down the deficit, and now we see, via Andrew Malcolm at Investors Business Daily, that Obama has already spent every dime of those taxes... and they haven't even been collected yet!!
It's a good thing our federal government is going on a strict spending diet to curb its out-of-control borrowing. Otherwise, the latest piece of spending legislation passed Monday worth more than $50 billion might have been substantial.
Good grief! Remember -- how can any of us forget? -- that long, hard fight President Obama just staged to squeeze more taxes out of wealthy Americans?
The top 2% wealthiest already pay 45% of the taxes. But Democrat Obama felt they needed to pay their "fair share," despite the risks that new taxation presents to creating real jobs for the rest of us, Obama already being employed for the next 1,452 days. But who's counting?
The Real Big Spender is off to Las Vegas this morning for a $1.5 million-plus photo op day-trip to sell his immigration reform ideas to a select audience that already likes it.
For weeks Obama traveled the country telling anyone who would listen and some who'd rather not that he's so absolutely positively determined to cut America's $16.4 trillion national debt that he did so much to grow. And he was insistent on milking money from the rich to do just that.
Well, guess what? That $50.4 billion spending bill for, among other things Hurricane Sandy aid, just ate up every single penny of that tax hike for this year, plus another $10 billion. That will go on the debt tab that the $40 billion in new taxes were supposed to start trimming slightly this fiscal year.
Read the rest.
It has never been about cutting spending or paying down the $16 trillion debt, after all Obama doesn't think Washington has a spending problem.