President Obama, in his continual quest to stir class warfare, has proposed Monday for a tax hike on families earning more than $250,000, and an extension of the Bush tax cuts for families earning less than $250,000. The President, speaking in the East Room in the White House, said he wanted to break the stalemate over taxes. He said that extending tax cuts to top earners puts too much of a hole in the federal budget, saying we can't afford to keep that up. He said we need to extend the Bush tax cuts for families earning less than $250,000 because it would be a blow on families and a drag on the economy. I have some news for President Obama: Increasing taxes on the wealthy will hinder job recovery in America. The way to grow the economy is to dramatically decrease taxes on those who are most likely to create jobs. I have a better solution: Let's eliminate the tax code and institute a flat or a sales tax. The progressive tax code is choking America to death. It places the tax burden upon those who are wealthy to keep the government afloat. Those who earn $20,000 or less don't pay any taxes to the government. That isn't right. Anybody who works a job should pay their fair share of taxes. There aren't enough wealthy people to supply the needed revenue to keep the federal government afloat. What's needed is for unconstitutional spending and unconstitutional programs to be axed from the budget. Also, the tax rates on all levels need to be lowered and most of the government regulations need to be eliminated so business owners can have some room to grow their business and hire more employees. Unless the employment rate improves dramatically, the economy will continue sliding, which is the goal of the Obama administration.
The Bush-era tax cuts are to expire at the end of 2012. Whether or not the Republicans in Congress have the political will to push for extension of the cuts is something we'll know for certain later this year. To read the full story, click on the above link from FoxNews.com.
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