Fair Share, Shared sacrifice, Buffet Rule, Race to the bottom, Greater good, Fortunate Americans don't contribute at all....
AND now we have "Global minimum tax"
Gene Sperling came out today, spewing and regurgitated the President's scratch LP album message that we have a taxation problem in this country, all the while the President throws at our feet a budget that adds a $1.3T deficit.
Let me refresh Americans minds for just a few:
From 2002- 2008, Bush ran a deficit of $2.1T.... TOTAL! And Yes that is a lot.
HOWEVER in 2009 and 2010 the deficit shot up by $2.7T
And it is estimated to skyrocket an additional $1.6T in 2011 and $1.1T this year.
In 3 years, on Obama's watch, he will have ran a deficit of $4.3T, doubled that of Bush last 6 years.
Lets compare federal government revenue stream, starting with the Bush tax cuts in 2003, and compare them with unemployment and government outlay, shall we?
Because that is the true factor of why tax receipts as down... Just so there is no confusion and some clarity, because with Obama and his economic councils chief, Sperling are laying out a smoke screen so Americans buy the BS coming from this administration on their class warfare tactic.
2003 total tax receipts= $1.782T: Unemployment= 6.0: Outlay= $2.159T
2004 total tax receipts= $1.880T: Unemployment 5.5: Outlay= $2.292T
2005 total tax receipts= $2.153T: Unemployment 5.1: Outlay= $2.472T
2006 total tax receipts= $2.406T: Unemployment 4.7: Outlay= $2.655T
2007 total tax receipts= $2.568T: Unemployment 4.7: Outlay= $2.728T
2008 economy begins to tank
2008 total tax receipts= $2.524T: Unemployment 5.8: Outlay= $2.982T
2009 total tax receipts= $2.105T: Unemployment 9.3: Outlay= $3.517T
2010 total tax receipts= $2.162T: Unemployment 9.3: Outlay= $3.456T
So, as you can see, we don't have a taxing problem.
No need to raise taxes on ANYONE.
Increased tax revenue stream correlates directly with lower unemployment rates.
Getting Americans back to work is the solution. But over bearing regulation by the government stagnates hiring, which in turns stagnates revenues.
They are doing it to themselves!
And what is more telling, tax revenue receipts in 2010 are nearly the same as in 2005, but employment figures are 4% higher. Ever wonder why... Tax increases that you were never made aware of.
In 8 years, our total outlays have been $22.3T, but revenues stands at only $17.58T. A difference of -$4.72T, And in reality, nearly $2.7T of that came from this administrations spending habits the last 2 years.
And what does Harry Reid think of the Presidents new budget?
"Dead On Arrival!" What does that say to his own party leader?