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Tag Archives: Debt

Obama – In His Own Words

In 8 years, President Bush added $4 Trillion to the debt.  Candidate Obama, in 2008, called that “Irresponsible” and “Unpatriotic”.

So, what does President Obama call it when he himself added $5 Trillion to the debt in only 4 years?

 
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Posted by on September 8, 2012 in Obama, Taxes

 

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Okay. The Buffett Rule. Then What?

I’m seeing reports that the Buffett Rule (taxing Capital Gains income of the 1% at a higher (30%) rate) would raise $50,000,000,000.  That’s an enormous amount of wealth to redistribute from 818,902 Tax Returns (read Families).  It’s $61057.37 per Family (Tax Return).

So, okay Obama, let’s say we do it.  We employ the Buffet Rule.  Then what?

The $50 Billion is 4.5% of the projected $1,100,000,000,000 ($1.1 Trillion) Deficit for 2012 on the White House web site.  Four-and-a-half percent.

So, Mr. Obama, Mr. Buffett, Mr. and Ms. Democrat… …what are you going to do to make up the other $1,050,000,000,000 ($1.05 Trillion) that is left after the Buffett Rule?

Answer that.

Based on your rhetoric, I got the impression if we just taxed the rich, everything would be okee-dokee.  If the evil rich just paid their fair share… …nirvana!

What about the Federal Debt?  We haven’t even talked about that.  Buffet’s $50 Billion would make a huge dent in the debt, right?

That $50 Billion is less than 1/3 of 1% of the current $15,382,000,000,000 ($15.382 Trillion) Debt.  Mr. and Ms. Class Warfare, what are you going to do about the remaining $15,332,000,000,000 ($15.332 Trillion) in Debt after your magic fair share and unicorn-riding class warfare succeeds in making the evil rich pay more under the Buffett Rule.

Answer that!

I know. We see it coming already.  The rich still aren’t paying their fare share.

How many times do we have to say it?  It’s the spending, stupid.

 
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Posted by on January 30, 2012 in Obama, Taxes

 

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CBO: The Federal Budget Infographic

I remind you again, that a great place to stay ahead-of-the-news on what’s coming down the pike for legislation is the CBO (www.cbo.gov).  Add yourself to their e-mail list!  I repeat.  Add yourself to their e-mail list!

Today’s release included an Infographic on The Budget, Spending, and Debt.  The graph at the bottom of the Infographic may be accurate, but it belies the truth that the Federal Government is $15 Trillion in Debt.  The GDP is $15 Trillion.  So, the Federal Debt is 100% of the GDP!

The Federal Debt is 100% of the GDP!

Below is a summary of the spending side of the Infographic.  Click on the image to display the entire Infographic.

 

 
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Posted by on December 13, 2011 in Balanced Budget, White House

 

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A Lotus Evora In Every Pot

“Since 1988, the Federal Government has paid $8 Trillion in Interest on the Federal Debt.  That’s enough to give every taxpayer a Lotus Evora dream car.”

h/t uncrate.com

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If your Representative (House or Senate) voted for this unbelievably bad debt deal, they need to be Primaried!  Period.

 
 

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Tom Langlitz Cartoon – 01/02/2011

Happy New Year!!

 

 

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