a declaration of war on the Right --- good it's time for the killin' to begin choose sides carefully
On Mar 3, 9:44 am, Keith In Tampa <[email protected]> wrote: > *Pitchfork Time * > by Patrick J. Buchanan > Posted 03/03/2009 ET > > http://www.humanevents.com/article.php?print=yes&id=30906 > > In his campaign and inaugural address, Barack Obama cast himself as a > moderate man seeking common ground with conservatives. > > Yet, his budget calls for the radical restructuring of the U.S. economy, a > sweeping redistribution of power and wealth to government and Democratic > constituencies. It is a declaration of war on the Right. > > The real Obama has stood up, and lived up to his ranking as the most > left-wing member of the United States Senate. > > Barack has no mandate for this. He was even behind McCain when the decisive > event that gave him the presidency occurred -- the September collapse of > Lehman Brothers and the market crash. > > Republicans are under no obligation to render bipartisan support to this > statist coup d'etat. For what is going down is a leftist power grab that is > anathema to their principles and philosophy. > > Where the U.S. government usually consumes 21 percent of gross domestic > product, this Obama budget spends 28 percent in 2009 and runs a deficit of > $1.75 trillion, or 12.7 percent of GDP. That is four times the largest > deficit of George W. Bush and twice as large a share of the economy as any > deficit run since World War II. > > Add that 28 percent of GDP spent by the U.S. government to the 12 percent > spent by states, counties and cities, and government will consume 40 percent > of the economy in 2009. > > We are not "headed down the road to socialism." We are there. > > Since the budget was released, word has come that the U.S. economy did not > shrink by 3.8 percent in the fourth quarter, but 6.2 percent. All the > assumptions in Obama's budget about growth in 2009 and 2010 need to be > revised downward, and the deficits revised upward. > > Look for the deficit for 2009 to cross $2 trillion. > > Who abroad is going to lend us the trillions to finance our deficits without > demanding higher interest rates on the U.S. bonds they are being asked to > hold? And if we must revert to the printing press to create the money, what > happens to the dollar? > > As Americans save only a pittance and have lost -- in the value of homes, > stocks, bonds and other assets -- $15 trillion to $20 trillion since 2007, > how can the people provide the feds with the needed money? > > In his speech to Congress, Obama promised new investments in energy, > education and health care. Every kid is going to get a college degree. We're > going to find a cure for cancer. > > Who is going to pay for all this? > > The top 2 percent, the filthy rich who got all those Bush tax breaks, say > Democrats. But the top 5 percent of income earners already pay 60 percent of > U.S. income taxes, while the bottom 40 percent pays nothing. > > Those paying a federal tax rate of 35 percent will see it rise to near 40 > percent and will lose a fifth of the value of their deductions for taxes, > mortgage interest and charitable contributions. > > Yet, two-thirds of small businesses are taxed at the same rate as > individuals. Consider what this means to the owner of a restaurant and bar > in Los Angeles open from noon to midnight, where a husband and wife each put > in 80 hours a week. > > At year's end, the couple finds they have actually made a profit of $500,000 > that they can take home in salary. > > What is the Obama-Schwarzenegger tax take on that salary? > > Their U.S. tax rate will have hit 39.6 percent. > > Their California income tax will have hit 9.55 percent. > > Medicare payroll taxes on the proprietor as both employer and salaried > employee will be $14,500. Social Security payroll taxes for the proprietor > as both employer and employee will be $13,243. > > In short, U.S. and state income and payroll taxes will consume half of all > the pair earned for some 8,000 hours of work. > > From that ravaged salary they must pay a state sales tax of 8.25 percent, > gas taxes for the 50-mile commute, and tens of thousands in property taxes > on both their restaurant and home. And, after being pilloried by politicians > for having feasted in the Bush era, they are now told the tax deduction they > get for contributing to the church is to be cut 20 percent, while millions > of Obama voters, who paid no U.S. income tax at all, will be getting a tax > cut -- i.e., a fat little check -- in April. > > Any wonder native-born Californians are fleeing the Golden Land? > > Markets are not infallible. But the stock market has long been a "lead > indicator" of where the economy will be six months from now. What are the > markets, the collective decisions of millions of investors, saying? > > Having fallen every month since Obama's election, with January and February > the worst two months in history, they are telling us the stimulus package > will not work, that Tim Geithner is clueless about how to save the banks, > that the Obama budget portends disaster for the republic. > > The president says he is gearing up for a fight on his budget. > > Good. Let's give him one. > > buchanan.jpg > 50KViewDownload --~--~---------~--~----~------------~-------~--~----~ Thanks for being part of "PoliticalForum" at Google Groups. For options & help see http://groups.google.com/group/PoliticalForum * Visit our other community at http://www.PoliticalForum.com/ * It's active and moderated. Register and vote in our polls. * Read the latest breaking news, and more. -~----------~----~----~----~------~----~------~--~---
