As one of his campaign promises, the President has called for increasing the tax rate for “the very rich”, so as not to be a burden on the lower classes. In a strong rebuke to the President, however, today the Supreme Court has called the law unconstitutional, because it fails to guarantee taxpayer equality.
Liberty! Equality! Fratenity!That was in France. Meanwhile, in the United States, President Obama has said he will not sign any legislation that does not raise tax rates on “the rich.”
In addition, he vows to “protect the middle class” and does not want any tax increases to have an adverse affect on them.
Vice President Biden feels the same way:
“We want to let that trillion dollar tax cut expire so the middle class doesn’t have to bear the burden of all that money going to the super wealthy. That’s not a tax raise, that’s called fairness where I come from."
Although there is no Economical, Moral, or Intellectual reason to raise tax rates on “the two-percent”, the Democrats call this an issue of “fairness.” If you assume there won’t be massive tax avoidance (there will be,) the tax is estimated to raise 60 billion dollars--while the deficit for this year is about 1, 300 Billion! And the current debt is over FIFTEEN THOUSAND BILLION DOLLARS.
President Obama is undeterred however, as he expressed his ideology during the Hillary/Obama debate. When it was explained to him that lowering capital gains taxes actually Increased revenue, he was only concerned that higher tax rates were more “fair.”
What I don’t get is, when did we become a country divided by “class.” Do we live in a caste system? Are some people better than others because of their income level? At what percentage of the population is it acceptable to disparage the minority? Why do we not want to “protect” the 100 percent, instead of only the 98?
Why can’t we be more like the French?
Liberté! Egalité! Fraternité!