January 19, 2015

Tax Hikes Part of Every Obama SOTU

The State of the Union long ago became little more than a president’s wish list of goodies, favors and policy tweaks. And a common theme has arisen from Barack Obama’s several addresses: tax increases. Class warfare is a key part of Obama’s income-redistribution agenda, and it has certainly worked – it’s easy for voters getting “free” stuff to cast their ballot for the most “generous” politician. Some form of tax increase has made an appearance in every single one of his addresses. In 2009, he sought to end the Bush tax rates for the top brackets while also targeting corporations that outsourced jobs. In 2010, he repeated both items and added a “fee” for the biggest banks to pay back the bailout. He somehow neglected to mention ObamaCare’s massive tax hike on everyone. In 2011, he once again called for an end to the Bush tax rates for the top brackets. Ditto for corporate taxes. In 2012, for the first time in a SOTU, he mentioned the “Buffett Rule” – the idea that the top brackets should pay at least a 30% effective tax rate. In 2013, he demanded – you guessed it – higher taxes on the top brackets, though this was just after Congress raised rates on the top two brackets to Clinton levels. In 2014, he decried giving “$4 billion a year to fossil fuel industries” through the tax code. And this year, among several tax-and-spend proposals, he is expected to call for raising the tax rate on capital gains from 23.8% to 28% – nearly double what it was when he took office. To Obama, all revenue is his revenue, and it’s practically a crime that the wealthy aren’t forced to hand over more of it to him for redistribution. More…

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