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April 15, 2012

Economic Illiterate Claims Taxing Job Creators Will Lead to Economic Growth

The President used his weekly address to continue to push for the Buffett Rule, and he gave a brand new spin for it. Remember, first it was for deficit reduction. The CBO put that little lie to rest. Then it was for "fairness," but swing independents weren't buying it. Now, the justification for raising taxes is to promote economic growth.

"As many Americans rush to file their taxes this weekend, its worth pointing out that weve got a tax system that doesnt always uphold the principle of everyone doing their part," Obama said in the address posted online Saturday.

"This is not just about fairness, this is also about growth, he added. Its about being able to make the investments we need to strengthen our economy and create jobs. And its about whether we as a country are willing to pay for those investments.

Anyone who believes that the federal government is going to boost growth by taking money from successful people and giving it to Solyndra-like boondoggles is an utter fool. Democrats just eat this horsepoop up by the shovelful and it doesn't make any sense, whatsoever.

The whole foundation of the Buffett Rule is that the capital gains tax rate is less than the income tax rate that a mythical secretary pays. In other words, Obama intends to tax investors only to turn around and use the money to invest in his own pet projects. It's a classic Democratic wealth redistribution scheme and nothing to do with promoting economic growth.

The Senate is expected to vote on the Buffett Rule legislation on Monday.

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posted by Gabriel Malor at 12:52 PM

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