Fiscal Fraud

· Monday, January 23, 2012

The original claim of the Occupy Whatever Street (OWS) movement, that large banks got a bailout while middle class America struggled as the result of high unemployment, had merit. However, that legitimate grievance was cast aside as the OWS movement was taken over by Big Labor and the Democratic Socialist Party.

Their goal was to divert attention away from the prolific spending of the Obama administration that is threatening our financial future. Thanks to a sympathetic media, they were able to influence public opinion to reflect their view that the rich are not paying enough taxes, and this is creating our budget shortfalls. In reality, we should be looking at Washington and their outlandish self-serving spending of the American taxpayer's money.

However since most people do not own a calculator with 13 digits or look at IRS data, their fraud has gone largely undetected and unreported. Let's examine the facts.

The 2011 budget deficit is $1,300,000,000,000 or 1.3 trillion dollars and the accumulated National Debt is $15,000,000,000,000 or 15 trillion dollars.

Using the OWS definition, the top 1% or 1.38 million people (out of 138 million taxpayers) are considered rich. This group earned 17% of all income but paid 37% of all income taxes. Clearly that is not the message being spread by OWS and their supporters.

Their claim that taxing the rich will help to solve the budget deficit is even more preposterous. The top 1% already pays $320 billion in income taxes annually. To eliminate the 2011 Obama budget deficit of $1.3 trillion, they would need to pay 98% of their earnings in taxes. At that tax rate, they will not continue to own and expand their companies, which include hiring more employees. Even a 98% tax rate on the rich does nothing to reduce the remaining National Debt of 13.7 trillion dollars.

Unless there is an awakening in Washington by members of both parties that their spending is the cause of our budget deficits and no amount of taxes on the rich, or even the middle class, will solve the problem, we are destined to repeat the mistakes of Greece, Italy and most of Europe. 

Promoting class warfare based upon misrepresenting the facts may help to get politicians elected, but it does nothing to put us on the path to prosperity.


Third-party content does not necessarily reflect the opinions of The Patriot Post.


Comments

G. Daylan

Those who have been present at any deliberative assemblies of men will have observed how erroneous their opinions often are; and in fact, unless they are directed by superior men, they are apt to be contrary to all reason. But as superior men in corrupt republics (especially in periods of peace and quiet), are generally hated, either from jealousy or the ambition of others, it follows that the preference is given to what common error approves, or to what is suggested by men who are more desirous of pleasing the masses than of promoting the general good. - Niccoló Machiavelli

Posted January 24, 2012 at 2:54:42 AM


Holmes Simons

The political cowards in DC are too busy counting profits from their insider trades and legislating unconstitutional loopholes to protect only themselves from criminal acts. Since no ethics remain, if any ever existed, among these pathetic human beings, they waste no time worrying about ethical consequences. Charley “the tax cheat” Rangel became the symbol of harsh disciplinary measures awaiting these jerks if they feloniously misbehave.

Accounting for a sovereign nation is a joke. There are 535 nitwits with absolutely no clue what is going on, and care not unless their pay check is 30 minutes late. Obama is lucky if he can keep track of which of the 18 holes he didn’t quadruple bogey.

The macro economic model now has government contributing approximately 28% of GDP. This is patently absurd, because virtually all its programs and departments are unconstitutional. The crybabies scream about the economic collapse that will occur with a cut in government spending. It has obviously never occurred to these wizards that the taxpayers will spend equally as much if their tax burden is reduced. It just might not create the lucrative windfalls for the politicians’ criminal friends.

Political correctness is the crutch for these feeble windbags.

PC = Political Cowardice. Now, that’s our problem.

http://www.justfacts.com/nationaldebt.asp Anyone who still has an appetite for giving a pass to politicians who have systematically stolen virtually all assets from he American people and saddled us with massive, unpayable debts should check out this website. No one in Congress comes to the floor yelling about unfunded future liabilities that will inevitably send us into the depths of poverty and social unrest. But, hey, let’s take a few hours to sing praises to NY Giants and NE Patriots….or vote on $63,000 to get a portrait of the great Charley Rangel to hang in the House. Un..FN..believable.

Posted January 24, 2012 at 4:31:38 PM


enemaofthestatistquo

A Polish Joke.

How many Pols does it take to screw-an environmentally friendly fluorescent light bulb? 537...

Posted January 24, 2012 at 7:20:43 PM


Holmes Simons

@enema: I don't think they can take time off from screwing the citizenry. I can hardly stand up straight anymore, I've been bent over so many times. This heralds the beginning of the Dark Ages...which follows the Darkie Ages that commenced in Jan, 2009.

Posted January 25, 2012 at 5:03:39 PM


mmccrindle

The Senate hasn't made a budget in over 1,000 days. That in itself is unlawful and an impeachable offense.

Of course Harry Reid would rather not have a budget as evidenced by congressional spending of over 9 TRILLION dollars since Apr. 29, 2009.

This is crimminal and the so-called tea party patriots in the House are now complicit with their silence.

Posted January 28, 2012 at 9:02:39 AM


Post a Comment

Please keep comments civil and brief. Obscene, profane, abusive and off-topic comments will be deleted. Repeat offenders will be blocked.

(required, displayed)
(required, not displayed)
Facebook Twitter YouTube RSS Connect with The Patriot Post






Our Mission

To Support and Defend -- Read The Patriot Post -- It's Right. It's Free. -- www.patriotpost.us

"The Patriot's mission is to advocate for Essential Liberty, the restoration of constitutional limits on government and the judiciary, and to promote free enterprise, national defense and traditional American values. Our objective is to provide Patriots across our nation with a touchstone of First Principles through brief, informative and entertaining analyses of relevant news, policy and opinion from reputable research, advocacy and media organizations, so they may better support and defend those Principles, and enlist others to join our ranks." —Mark Alexander, Publisher


The Patriot Post is not sustained by any political, special interest or parent organization, and we accept no advertising. Our mission and operations are funded entirely by the voluntary financial support of Patriots like you!

Support The 2012 Patriot Fund