Biden to Wealthy Americans: Pay Higher Taxes You Unpatriotic Snobs
Alright, so maybe my headline is a little sensational, but remember, this is coming from Joe Biden - the man whose Senate majority leader said that the income tax is "voluntary."
Biden is now telling Americans who will pay higher taxes under Obama's economic plan that "it's time to be patriotic." Patriotism apparently means allowing the Federal government to take a larger slice of your paycheck. I apologize in advance for the "Biden smile." Watch:
I would assume most Americans would rather elect someone who will better handle the money Uncle Sam is already taking from them, rather than someone who demands they relinquish more of their income to prove their "patriotism."
This is of course completely disregarding the fact that Biden's point about paying higher taxes to help an economy in crisis is completely baseless. Taxes have nothing to do with the credit crisis, the housing market, or government bailouts. Apparently Joe wasn't aware of this inconvenient truth, as he uttered what would be considered a gaffe (if a Republican said it):
If Democrats really wanted to increase the amount of money flowing into our already-bloated government, they'd keep their mouth shut about "tax cuts for the rich." But alas, they aren't taking more money from the rich to fund government - they're redistributing it in the form of tax credits, which is what you get when you create a "tax break" for someone who doesn't pay taxes.
That's called buying votes, and while there is a growing portion of Americans opting to vote for a living rather than work for one, don't look for Biden to question their patriotism.
Update: McCain has already pounced on Biden's monumentally clueless statement, releasing this ad...
Something else I find interesting (though not surprising) is the fact that the media is only focusing on Obama's plans in regard to income taxes; no one is talking about what effects his capital-gains and corporate tax increases will have. Does Obama think that businesses will just suck it up and eat the higher costs? They won't.
If your company's cost of doing business goes up because you're forced to hand over more of your capital to the government, how are you going to offset that cost? You'll either have to raise prices on consumers (particularly affecting the middle-class, Obama), eliminate jobs (which puts more people out of work, Obama), or pack up shop and move overseas (which is what you claim you're trying to prevent by raising taxes in the first place, Obama).
In fact, depending on how much of a bite Uncle Sam is taking out of your resources, you might do all of the above. If I may use Barack's own words...he just doesn't get it.
Biden is now telling Americans who will pay higher taxes under Obama's economic plan that "it's time to be patriotic." Patriotism apparently means allowing the Federal government to take a larger slice of your paycheck. I apologize in advance for the "Biden smile." Watch:
I would assume most Americans would rather elect someone who will better handle the money Uncle Sam is already taking from them, rather than someone who demands they relinquish more of their income to prove their "patriotism."
This is of course completely disregarding the fact that Biden's point about paying higher taxes to help an economy in crisis is completely baseless. Taxes have nothing to do with the credit crisis, the housing market, or government bailouts. Apparently Joe wasn't aware of this inconvenient truth, as he uttered what would be considered a gaffe (if a Republican said it):
"We should try to correct the problems that caused this. And what’s caused this? The profligate tax cuts to the very, very wealthy that John wants to continue. What’s caused this is the failure to have regulation so that, in fact — John talks about these CEOs getting these big bailout packages."Sorry Joe. You're talking about two separate issues. Oh, and if you want to talk about CEOs getting big bailout packages, I can think of two Fannie/Freddie CEOs who fit the description: Jim Johnson and Franklin Raines, currently serving as Barack Obama's economic advisers.
If Democrats really wanted to increase the amount of money flowing into our already-bloated government, they'd keep their mouth shut about "tax cuts for the rich." But alas, they aren't taking more money from the rich to fund government - they're redistributing it in the form of tax credits, which is what you get when you create a "tax break" for someone who doesn't pay taxes.
That's called buying votes, and while there is a growing portion of Americans opting to vote for a living rather than work for one, don't look for Biden to question their patriotism.
Update: McCain has already pounced on Biden's monumentally clueless statement, releasing this ad...
Something else I find interesting (though not surprising) is the fact that the media is only focusing on Obama's plans in regard to income taxes; no one is talking about what effects his capital-gains and corporate tax increases will have. Does Obama think that businesses will just suck it up and eat the higher costs? They won't.
If your company's cost of doing business goes up because you're forced to hand over more of your capital to the government, how are you going to offset that cost? You'll either have to raise prices on consumers (particularly affecting the middle-class, Obama), eliminate jobs (which puts more people out of work, Obama), or pack up shop and move overseas (which is what you claim you're trying to prevent by raising taxes in the first place, Obama).
In fact, depending on how much of a bite Uncle Sam is taking out of your resources, you might do all of the above. If I may use Barack's own words...he just doesn't get it.
Labels: Election 2008, Taxes
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