25 Apr

Obama’s Plan: Raise Taxes, Spend More, and Pander Even More

                                       

The gift that keeps on giving.

Here is the DNC’s chair Debbie Wasserman Schultz making a fool of herself, once again, on Bret Baier’s show last night whining that the GOP had blocked the President’s budget plan even though SHE, along with all of her fellow Democrats voted against her President’s budget plan.

Meanwhile The Heritage Foundation just released some Federal Spending in Graphs. A pictorial tour through Obama’s destruction of our economy. A taste:

Much more where that came from at the link.

Runaway spending is causing our doom, so why not spend a bit more. This time to pander to the youth in our country:

Obama told the students that since they were born, tuition and fees at colleges have doubled.

“And that forces students like you to take on a lot more loans, there are fewer grants, you rack up a lot more debt,” Obama stated.

“Can I get an Amen for that?” he asked the crowd who cheered, “AMEN!”

“Now, the average student who borrows to pay for college, now graduates with with about $25,000 in debt, that’s the average, he added,

“Some have more,” he said. “Can I get an Amen for that?”

“AMEN!” the crowd who cheered.

“Because some folks have a lot more debt like that,” Obama chuckled, as another person in the crowd shouted, “AMEN!”

Ugh, the pandering from this man is disgusting. Can I get an Amen for that?

Doug Powers:

What the students didn’t hear:

“In 2007 I missed two votes to extend the student loan bill that I now want you to believe is the most important things I’ve ever promoted. Can I get an amen?

“More than half of all young college grads are now jobless or underemployedCan I get an amen?

“According to my own Vice President, government meddling in the free market actually increases college tuition. Can I get an amen?

“Since I took office, over $5 trillion has been added to the national debt — or over $16,000 for every man, woman and child in the United States. Can I get an amen?

“Student loan interest rates are set to double because the then Democrat-controlled Congress voted to do soCan I get an amen?

Anyways, he wants to freeze student loan interest rates to buy some votes. Of course this would cost close to 6 billion dollars. How will they pay for that?

By raising taxes of course:

Senate Democrats introduced legislation Tuesday that would prevent student loan interest rates from doubling this summer. Its $5.9 billion cost would be paid for by making it harder for owners of so-called S corporations to avoid paying Social Security and Medicare payroll taxes on some of their earnings.

The proposal would affect such companies with earnings of at least $250,000 annually and whose revenues come from the work of three or fewer owners. It would also apply to some lawyers, doctors and other professional service businesses that are owned by partnerships.

House Democrats said late Tuesday that they would introduce a similar bill, also financed by boosting payroll tax collections from many private companies’ owners.

S-Corps are used by many small companies, from mom and pop stores to individual workers like doctors and to start up businesses to file their taxes.

So he wants to raise the taxes on these small business owners to help students who have racked up a ton of debt to get an education.

And what does Obama tell those kids?

And living with that kind of debt means some pretty tough choices when you’re first starting out. It means putting off buying your first house. Or it means maybe you can’t start up that business right away that you’ve got this great idea for.

When I was over at The Sink I was talking to three business majors, and they all had these business ideas. But it’s tougher if you’ve got all this loan that you’re already thinking about the minute you get out of school. Maybe you’ve got to start a family a little bit later. It takes you a longer time to save for retirement. And when a big chunk of every paycheck goes towards loan debt, that’s not just tough on you. It’s not just tough on your families. It’s painful for the whole economy because that’s money that could be going into the economy and could be going into new businesses and could be helping businesses grow.

So on the one hand he panders to the youth telling them the taxpayers will help get them out of debt so they can start those small businesses, and on the other hand he wants to raise taxes on those same small businesses. I’m sure many of those students who have racked up a ton of debt are doctors and lawyers. Those same people who WOULD have used the S-Corps tax breaks to become more successful. Not anymore.

Just another example how Obama and the Democrats are destroying this country.

Can I get an Amen for that?

About Curt

Curt served in the Marine Corps for four years and has been a law enforcement officer in Los Angeles for the last 24 years.
This entry was posted in Barack Obama, Baracks Broken Promises, Deception and Lies, Economy, Education, Liberal Idiots, Obamanomics, Politics, Taxes. Bookmark the permalink. Wednesday, April 25th, 2012 at 9:57 am
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24 Responses to Obama’s Plan: Raise Taxes, Spend More, and Pander Even More

  1. Pingback: Obama’s Plan: Raise Taxes, Spend More, and Pander Some More « Investment Watch Blog

  2. The Heritage Foundation? You’re quoting the Heritage Foundation? Might as well quote Fox News. Sorry but there’s almost no truth at all to these allegations. The fact is I’m disappointed in Obama because he doesn’t raise taxes. That’s pandering. This ridiculous trickle down theory holds no water and has been proven to be wrong time and again. We need to pay for what we get and we can only cut so much government spending. I’m sad to see this is a right wing site. I was enjoying my visits.

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  3. Nan G says: 2

    And another thing about that sunset for the interest rate for student loans that Obama missed both votes on:
    No one, not a bank, not a credit union, not the government is going to have takers for loans with over 6% interest rates in this day and age!
    Students can buy a car with a no interest loan.
    They can buy a house with a less than 4% loan.
    They can even get an unsecured loan for less than 6%.

    So, Obama is scaring them with yet another Straw Man.

    ReplyReply
  4. Pingback: Obama’s Plan: Raise Taxes, Spend More, and Pander Even More | Flopping Aces « Leftoutinamerica's Blog

  5. Aleric says: 3

    Well we now know where Madmike got his name. If you seriously believe that trickledown economics don’t work then how do you explain the boom in business during the Regan years and the stagnation we now have in the PEBO years. Growth is under 2% right now. It has to stay above 3% just to pay the bills the current regime is spending and that is growing every day.

    Oh and Mike, Truth is not what we look for, FACTS are what reality is based on. Truth is what someone believes is correct, FACTS are what the actual situation is.

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  6. Ivan says: 4

    @Aleric:

    Well we now know where Madmike got his name. If you seriously believe that trickledown economics don’t work then how do you explain the boom in business during the Regan years and the stagnation we now have in the PEBO years.

    By what metric do you use to claim we had “boom” in business during Reagan’s years?

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  7. Nan G says: 5

    @Ivan: By what metric….?

    Take a look at the comparison between how Obama (RED LINE) and how Reagan (BLUE LINE) created jobs:
    http://governmentgonewild.org/wp-content/uploads/2012/02/reagan-v-obama-jobs.jpg

    Now also compare how Obama (RED LINE) and how Reagan (BLUE LINE) grew (or didn’t grow) the economy:
    http://governmentgonewild.org/wp-content/uploads/2012/02/reagan-v-obama-growth.jpg

    Those two charts show the stark contrast between what happens when you free up capitalism and when you thwart it.

    Obama’s policies are prolonging the effects of the recession.

    Big government apologists will say what Obama has said: that his recovery has been hindered by the economy that he inherited from George W. Bush.

    But there are impediments to any recovery after a recession.

    See if you can find a video of Ronald Reagan blaming Jimmy Carter for the mess he left him!

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  8. mossomo says: 6

    @Ivan:

    For starters – more than 50% of college grads could find jobs under Reagan!

    Obamanomics vs Reaganomics. The numbers tell the story. Eight years of Reaganomics brought:
    – 20 million new jobs were created
    – Inflation dropped from 13.5% in 1980 to 4.1% by 1988
    – Unemployment fell from 7.6% to 5.5%
    – Net worth of families earning between $20,000 and $50,000 annually grew by 27%
    – Real gross national product rose 26%
    – The prime interest rate was slashed by more than half, 21.5% in January 1981 to 10% in August 1988

    Four years of Obamanomics has brought… funemployment. What other metrics would you use to argue its success?

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  9. Hard Right says: 7

    IIRC, madmike was a Mike’s America stalker. You know, that liberal tolerance for others with differing views.

    Here’s a plan obama has his people in the EPA following

    http://blog.heritage.org/2012/04/25/video-epa-official-compares-agency-enforcement-to-roman-crucifictions/

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  10. Ivan says: 8

    @mossomo:

    - Real gross national product rose 26%

    Got ya!

    Guess what? You just failed!!!!

    ReplyReply
  11. Taqiyyotomist says: 9

    OT:

    This excellent, unusually excellent, reporting by Reuters regarding George Zimmerman needs to go viral.

    http://tinyurl.com/c6evjrp

    With this it may seem that reporting is not quite dead. But they rang the bell, it cannot be unrung… I guess now they are allowed to be curious. The “rubbing raw the sores of discontent”, per Alinsky, was done, so now we can pretend to be “investigative reporters.” And it gives them cover, after they have already convinced those who can be convinced that the opposite of the truth is the truth.

    Cynical? Who, me?

    ReplyReply
  12. Common Sense says: 10

    @Michael Scott (@MadMikesAmerica): If you want to pay more taxes be my guest. What a wingnut you are!!

    ReplyReply
  13. Thanks for all the insults, i.e. “wingnut” and etc. Notice I didn’t insult anyone, nor would I ever insult anyone for having an opinion. By the way I’m neither a liberal nor an apologist for Barack Obama, but I am well read, and don’t shoot from the hip when it comes to reporting. I have been roundly criticized by Pollyanna Liberals for defending the actions of George Zimmerman, with respect to his right to a fair trial but the fact is he’s entitled to that and I won’t judge him. That’s why we have juries.

    As to the politics over here not one of the so called facts you have cited are in reality “facts.” Secondly, Saint Ronnie, recognizing the disastrous failure of the trickle down experiment was forced to raise taxes, along with his successor George H.W. Bush.

    So try for just one minute to stop worshiping right wing philosophies that clearly haven’t worked.

    That being said…peace to all. I still won’t call anyone names. I am an honorable man.

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  14. FAITH7 says: 12

    People like mad mike#1 “finally” got the reaction he wanted in the vague manner which he wrote his comment…he waited for a reaction….it took some time but, he got it… twice

    I wonder…how many visits did he make before he figured out this was a “right leaning” site rather than a lefty site? Hmmm…

    Quite frankly, common sense #10, he does come off like a Liberal… perhaps he’s a prog? Couldn’t be libertarian, he voted for barry, perhaps he’s an independent? Hmm…I’m not sure what kind of reaction he expected for his ‘opinion’. But he did elaborate ‘just a little’ to your comment…didn’t he?

    But he did say….
    “We need to pay for what we get and we can only cut so much government spending.” MS#1

    And I say…
    Hell, we can cut a ton of spending just have to have the GUTS to do it! To Do what is RIGHT! BOTH Democrats and Republicans!

    [Stop the Gov’t subsidizing of colleges for starters!]

    Not… do what politicians have been doing for 40 + years…or do what will get ‘me’ votes…. or another round at “Fundamentally Changing America”

    Like Mark Levin says “the left keeps dragging us into the gutter and we [the right] have to fight to get out of the gutter”

    Mike is living in another reality….

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  15. UpChuck.Liberals says: 13

    @Michael Scott (@MadMikesAmerica): I’m glad to see you remembered to take your stupid pill this morning. Under Barry my medical insurance has doubled, I’m guessing you’re getting yours for free. I’m facing being taxed on my 401k to support the cellar dwellers which, I’m going to guess you belong to. I’m also going to guess you’re not old enough to have lived under the Great Society and every other Progressive/Liberal/Socialist nightmare this country has been subjected to since. I’m also going out on a limb here and say you’ve never held a full time job for more than a year. Am I right on any of these points? Just wondering. Just in case your wondering, which I’m pretty sure you’re not, by the end of the 60’s I’d served 4 years in the Air Force.

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  16. johngalt says: 14

    @Michael Scott (@MadMikesAmerica):

    We need to pay for what we get and we can only cut so much government spending.

    We can’t cut government spending? Why is that?

    Contrary to your assertion, there is quite a bit of government spending that not only could be cut, but should be cut. Ever read the Constitution, Mike? Show me where it allows the federal government to tax and spend for schools. For art. For “scientific” experiments and studies. For hosting video game parties. For putting politician’s names on all manner of infrastructure. Etc., etc., etc.

    Federal spending has grown wildly, every year, since the progressives first stepped foot into the halls of Congress early in the last century. And much of it cannot be reconciled with the powers given Congress by the Constitution.

    What you seem to desire is to keep spending ourselves into oblivion, and hoping that tax increases can keep up with it. Good luck with that, Mike. Greece is finding out the hard way how well that works out, and Italy and Ireland aren’t far behind.

    Your opinion that “trickle-down” economics doesn’t work is colored by looking at the deficits incurred by the federal government during those times, without taking into account the massive new spending increases that continue to haunt the US even now. Without those spending increases, the results would have looked quite different. But don’t let facts get in the way of your fantasy about taxing the country more and hoping prosperity hits.

    ReplyReply
  17. retire05 says: 15

    Someone explain to me why there are some students that wind up with massive debt before they ever earn their sheepskin. What happened to the process that kids used when I was college age and they worked during the summers, 10 hrs @ day/six days a week to meet the tuition costs for the next school year? Or are they all too damn busy pitching tents at OWS protests?

    A couple of years ago, I asked my spouse’s heart surgeon how much it cost for him to complete medical school. He told me around $200K. I knew he came from a middle class family so I asked how long it took him to pay off that debt. He told me that when he graduated (and later trained under Dr. Michael DeBakey) that he had no debt because he worked off shore oil rigs during the summer and paid for his own education (he comes from a Texas oil field worker family). He said it took him a little longer to do it that way, but it was worth it. To this day, this heart surgeon, considered one of the best in Texas, still operates wearing Red Wing 1105s.

    The problem is that these kids go to some tony university thinking they are going to earn more because of the name of the school. Last year I read an article that said a law grad from the University of Texas actually earned more per year than a Harvard law grad. Or they major in Boswanian Women’s Basket Weaving and think they are just going to fall into some high dollar job.

    ReplyReply
  18. Smorgasbord says: 16

    Ugh, the pandering from this man is disgusting. Can I get an Amen for that?

    AMEN!!!! And I ain’t even religious.

    Am I behind the times, or don’t today’s college-bound kids and their parents evaluate the expenses and possible income from part-time jobs the kid can get, BEFORE they go to college? Maybe even research the job market in the field the kid has chosen, and the percentage of students who graduated from that school who now have a job.

    I guess it depends on the education of the parents and the kid up to that time. If they went to the kind of schools Obama wants, they don’t know what “evaluate” or “research” means.

    Obama said he had student load debts. Didn’t his rich aunt pay for his education and buy his way into the colleges?

    ReplyReply
  19. Common Sense says: 17

    @Michael Scott (@MadMikesAmerica): Nice try but of course you did put down the Heritage Foundation and Fox News. Help me understand Mr Honroable why you feel that these resources are in some way deficient. Then, tell me which resources you feel are more reliable.

    ReplyReply
  20. Nan G says: 18

    I’m glad this post is categorized under the heading: Deception and Lies among others.
    Obama loves to lie.
    He loves it when his supporters lie for him, too.
    CeCe Ibson was asked to introduce Michelle Obama’s speech Tuesday in Windsor Heights.
    Her REAL story was NOT GOOD ENOUGH.

    She was told to publicly thank Obama for helping her obtain health insurance.
    The truth?

    Her coverage is provided by HIP Iowa, a state program for people whose health problems make them ineligible for most commercial insurance. HIP Iowa was created in 1987, during REPUBLICAN Terry Branstad’s first stint as governor. Most of the program’s subsidies come from fees paid by commercial insurers.

    One other fact:
    She did not even qualify for a similar program created last year under Obama’s health reform law!!!!

    Now why did she lie?
    She didn’t want to.
    She said she explains her situation more clearly when she gives a 15-minute presentation on the issue. She said some of the specifics were trimmed out when Obama campaign staff members shortened her standard presentation to about three minutes.

    “I never thought they tried to make me the face of someone giving credit to the president for doing something he hadn’t done,” she said.

    But that’s what happened.

    ReplyReply
  21. James Raider says: 19

    Curt, excellent post.

    The Borrower In Chief leads the way – continuing to deepen the debt loaded onto taxpayers, and making debt a ‘right’ which has already produced two indentured generations – the clowns at The Fed and on Wall Street love this economically deficient incompetent.

    I have yet to hear One speech from the great nacissist in which he doesn’t lie and obviously the MSM which seems to lack basic understanding of human nature never calls him on any of them.

    ReplyReply
  22. Nan G says: 20

    From the original post:

    Doug Powers:

    What the students didn’t hear:

    “In 2007 I missed two votes to extend the student loan bill that I now want you to believe is the most important things I’ve ever promoted. Can I get an amen?”

    “More than half of all young college grads are now jobless or underemployed. Can I get an amen?”

    “According to my own Vice President, government meddling in the free market actually increases college tuition. Can I get an amen?”

    “Since I took office, over $5 trillion has been added to the national debt — or over $16,000 for every man, woman and child in the United States. Can I get an amen?”

    “Student loan interest rates are set to double because the then Democrat-controlled Congress voted to do so. Can I get an amen?”

    Anyways, he wants to freeze student loan interest rates to buy some votes. Of course this would cost close to 6 billion dollars. How will they pay for that?

    Now, what is Obama up to???
    He is playing with this Big Time!

    ABC News put the headline this way:
    Obama Threatens To Veto GOP Student Loan Extension To Protect Fund He Planned to Cut

    Details from that ABC article:
    Obama threatened to veto the House Republican version of the extension of the student loan bill Friday, arguing that it cuts funding for preventive health services to offset the one year extension of the 3.4 percent student loan rate.
    BUT….House Speaker John Boehner’s office countered the president’s threat by saying President Obama already authorized trimming down the Prevention and Public Health Fund in his proposed FY2013 budget.
    To quote Boehner:
    “The president is so desperate to fake a fight that he’s willing to veto a bill to help students over a slush fund that he advocated cutting in his own budget.
    It’s a simple as this: Republicans are acting to help college students and the president is now getting in the way.”

    PS, no one but Obama might think a student will pay over 6% for a loan!
    A student can now get a cheaper loan rate on his signature alone at his own college credit union!

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  23. Alice says: 21

    I talk about all this on my twitter, and i follow numerous news and politicians. It saddens me how my generation and my kids generations are going to suffer. Our country just keep digging ourselves into more debt and outsourcing jobs not to mention many jobs are being taken by technology. I have a lot of followers on twitter, and i love to voice/and hear other peoples opinions.

    ReplyReply
  24. mossomo says: 22

    @Ivan:

    - Real gross national product rose 26%
    Got ya!
    Guess what? You just failed!!!!

    Speaking of failed. Greece.

    Disappearing tax receipts will evaporate any increase to your “real” GNP. To substain your “real” GNP will require tax increases in proportion to tax receipts lost. Watch France.

    ReplyReply

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