I guess the economic brainiacs in the Obama administration just don’t pay attention to the financial issues of the world. Perhaps they do, more so than any of us realize. Remember Timothy Geithner the Secretary of the Treasury who claimed there was an error in the program he used to compute his own taxes. The error would have saved him some $40,000+ over a period of four years if the American public hadn’t strongly questioned his appointment. He won the position of Chief Tax Man for the United States just the same.
England is having some problems collecting income tax payments since they raised the personal income tax. It seems there was a revenue drop of about $509 million pounds for the month of January as compared to one year ago. Wealthy Britons found the loopholes in their system, posted and stored cash offshore, etc.
We know personal income taxes in New York have caused the wealthy tax payers to head for Florida and Nevada where there is no income tax. Again, tax revenue in New York is not growing though the burden on the wealthy is high.
We have seen companies dodge the tax laws of this country by sending manufacturing and production and many jobs over seas to developing nations not yet burdened by excessive and unnecessary government overspending.
Therefore, with this information at hand, President Obama’s latest budget proposal includes taking the dividend rate to 39.6% from the current 15%. Surely, this will encourage greater investment in struggling companies causing them to employ more American workers on American soil.
“Let me say that unemployment insurance… is one of the biggest stimuluses (sic) to our economy”. Nancy Pelosi 7-7-10
“It is the biggest bang for the buck when you do food stamps and unemployment insurance. The biggest bang for the buck.” Nancy Pelosi 8-22-11
And, most recently:
People who receive that unemployment check go out and spend it and help stimulate the economy.” Valerie Jarrett 2-21-12
Logical expansions of these statements might be that “Keeping people servient and Welfare dependent also grows the economy”, or “Living in a box saves trees through recycling and keeps the cardboard industry healthy”. What idiots!
Over and over again market driven free enterprise along with reasonable government spending and taxation proves to work for the prosperity of all. The people we have put in charge, however, continue to deny the facts and drive the country deeper into debt and individuals to greater dependency.
Please, inform yourself and vote wisely!