Grover, excellent post, and great facts! We are headed towards socialism, and its being shoved down our throats in record time...As an active duty military member, I'm no where close to worrying about my taxes going up...I'll never see 6 figures in this career, let alone $300,000...But as a Conservative, I know it will have consequences on my family due to the "robin hood" approach this socialist liberal is hell bent on implimenting on us all! We can only pray that the 52% of the "stupid" people learn a lesson and revoke BHO's run at another term...But I believe BHO is counting on his "stupid" minions to continue his ruinous ideology, and force us "smart" Americans into it? Guess we'll see in 2010 and 2012 if anyone has educated themselves on REAL capitalism, and the Constitution? God bless you too Grover, and keep up the great posts!
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Top Five False Claims from Obama's Address to Congress
Date: Wednesday, February 25, 2009, 3:09 PM EST, 3:09 PM EST from Grover Norquist
CLAIM #1: "...not because I believe in bigger government – I don’t."
FACT: When Obama took the oath of office, federal spending for 2009 was on track to be about 22 percent of GDP, according to the CBO. Now with the passage of the trillion dollar Pelosi-Reid-Obama spending and debt plan, spending could hit 30 percent of GDP this year. That would be the highest level since World War II, and the biggest one year jump since Pearl Harbor. If that's not a belief in bigger government, then what is?
CLAIM #2: "A failure to act would have worsened our long-term deficit by assuring weak economic growth for years."
FACT: When the government spends more money, it crowds out the private sector. 30 percent of GDP being spent by the government leaves only 70 percent for the private sector. Over time, it's the private sector--not government--which grows the economy. When the private sector gets crowded out, economic growth gets choked off.
CLAIM #3: “Because of this plan, 95 percent of the working households in America will receive a tax cut – a tax cut that you will see in your paychecks beginning on April 1st.”
FACT: This is a mathematical impossibility. According to the IRS, there were over 138 million families filing income tax returns in 2006. Only 93 million returns paid income tax. That means that one-third of households had no income tax liability in 2006 (and this doesn't even account for those households that don't have to file tax returns, like most seniors). You can't cut taxes on 95% of families when one-third of them don't pay income taxes.
According to the Joint Tax Committee, 15 percent of families have neither an income tax nor a payroll tax liability.
No matter which way you slice it, you can't cut taxes for 95 percent of families. It's impossible. All you have left for the low end of the income spectrum is spending money, using the tax code as the distributor.
CLAIM #4: “We will restore a sense of fairness and balance to our tax code by finally ending the tax breaks for corporations that ship our jobs overseas.”
FACT: The U.S. is one of the only countries left in the developed world that double-taxes the international income of our companies. In order to ameliorate this double-taxation, a host of credits, deductions, and deferrals have been put into the tax code.
It would be far easier to simply conform to Japan, the U.K., Canada, and the rest of our trading partners by taxing only income earned in the United States. But making the double taxation problem worse by "closing loopholes" is a clear path toward outsourcing jobs and companies to friendlier nations.
CLAIM #5: “In order to save our children from a future of debt, we will also end the tax breaks for the wealthiest 2% of Americans. But let me perfectly clear, because I know you’ll hear the same old claims that rolling back these tax breaks means a massive tax increase on the American people: if your family earns less than $250,000 a year, you will not see your taxes increased a single dime. I repeat: not one single dime.
FACT: To be clear, the top 2 percent is a lot closer than you might think. According to the IRS, a family is in the top 2 percent of income if it makes about $300,000 per year. That's a comfortable family, to be sure, but not exactly the image of the Monopoly man that Obama would seem to imply.
Let's take a look at the top 1 percent, the truly "evil" in the Obama-Pelosi-Reid worldview. According to the IRS, they earn about 20 percent of the income in America, but pay 40 percent of the income tax. The top 5 percent pay 60 percent of the income tax. The top 10 percent pay 70 percent of the income tax.
Does the term "blood from a rock" mean anything to President Obama?
Furthermore, most of the small business profits are earned in these top-two percent households. 40 percent of the sole proprietor profits are earned there. Almost 90 percent of business partnership and Subchapter-S corporation income is earned there. All told, more than $2 out of every $3 in small business profit is earned by families that Obama said he was going to raise taxes on last night. Since small businesses pay their business taxes on their owners' 1040s, to raise their taxes is to raise the tax rate on the lion's share of small business profits in America.
Thanks for this forum - I just joined. After reading the latest Wall Street Journal (02/27/09) article "The Obama Revolution" - I think it's time to say "Let's stop the train, and get off". The main problem is the Large DemocRATic move to the FAR_LEFT. We are now in the first phase of O'Bama's Liberal-Socialistic Plan within America's 1st METRO-GHETTO PRESIDENCY...Please we must stop it before we end up with a British style government with a possible SHARIAH STATE LAW CONTROLLED BY BIG GOVERNMENT.
S/HELP
I didn't believe a word he said during his speech.
I don't see that as a contradiction by Obama at all. I don't beleive in spending a lot of money on my old car, but when it is broken I am forced to spend what is required to make it work again. Obama inherited a broken economy. I feel that he is doing the best that he can with what he has to work with. Doing nothing is not an option.
Bob, but that is the very problem – government cannot tax and spend its way out of every mess. It’s called Keynesian economics and is fundamentally flawed, not just as an economic model but in practice. Also, your analogy does not work, because you are spending your own money on your private property. The government does not own the economy and it is not spending its money, but the taxpayers. People tend to be more careful with spending their own money, while government tends to be wasteful and inefficient. And that does not even address the fact the so-called stimulus is filled with pork projects, welfare, and payoffs to special interests groups. Doing nothing may be the best thing in the long run. We got out of the 1893 and 1920 economic downturns without any ‘stimulus’ package.
Bob Johnson, you're repeating the same old tired line "....he inherited a broken economy." No one is buying that argument, Bob. Well, maybe some kool-aid drinkers. What party has controlled congress for the past 2+ years? Ask yourself this: if you have a 401k, wasn't it worth more during the Bush admin.?
I "buy" Bob's fact that the Economy was broken before Jan. 20th , '09. The Fourth Quarter of '08 was not good.
What else, Andy? Do you "buy" that Pelosi, Reid, Dodd, Frank, Schumer and the Democrat left-wing extremists have controlled congress over the past 2 years and their policies have had a devastating impact on the US economy? After all, isn't forcing lenders to make loans to people not credit worthy a recipe for disaster?
Damn, Andy and Bob have infulltrated our great site...Damn liberal/socialists, stay at the "daily kook" or the "Huff", and leave US alone! I am mad as He!! and won't stand for libs. compromising OUR "grass roots" movement we're trying to accomplish here...Sorry for being un-PC, but that is how I am!
No worry about the libs on the site. They can't stomach common sense and truth for very long. I've never met a liberal elitist that wasn't a pansy. I'd quote Arnold now and call them girlie men but I hate to quote a liberal and calling them girlie men would be a compliment.
We were invited by Lori. I watch alot of C-SPAN. In the car, I listen to Limbaugh, and Hannity, and Mr. Bill, and Savage, and our local Conservative talkers. I watch The Fox News, and CNN, and MSNBC, and CNBC, and The News Hour, and the networks, and Colbert and The Daily Show. I read newspapers. I've seen left-wing sites and right-wing sites. Both wings must flap to keep our bird sailing.
My "pansy" opinions will not ruin YOUR site.
(sorry I drunk-posted after promising not to)
So , anyway, false claims! That's precious.
Doing nothing would have been better than borrowing our way out of it. We got here because we borrowed too much, spend too much using a bank account that didn't have much. Bob, Obama is doing everything he can...to destroy the foundation of this country not to solve it's problems. Andy, the economy was broken but now it's in pieces. The stock market is not performing poorly because of Bush's mistakes or policies. It is performing based on Obama's approach and the future of this country. At the rate we're going it's bleak.
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