Obama's Tax Plan Does Not Overcome Spending and Borrowing to be Paid by Next Generation of Youth

Sept. 22, 2011 - PRLog -- Obama’s double tax plan does not overcome the habitual spending and borrowing but engages the politics of class warfare.

Such out of control spending, borrowing and debt increases by both the democrat and republican political party shall unfortunately have to be paid for on the backs of America’s next Generation of Youth.

His 3 years of political rhetoric like "It's only right we ask everyone to pay their fair share," and "then I'm confident the American people will follow us. That's where they want to be," has taken his people not to prosperity but rather to the unemployment lines.

What is the percent of a person’s wage Obama and his fellow democrats or the republicans believe is, a "fair share," to be taken out of the pockets of American workers?

Is it 30%, 40%, 50% or 65% or more from every dollar earned THEY NEED and REQUIRED FOR CONTINUING THE POLICIES OF PROGRESSIVE TOTALITARIAN SOCIALIZED LIBERALISM to support the 47% of Americans who pay NO Federal Income Taxes?

26% was the Obama’s' effective tax rate for which they received a refund of $12,334 in 2010 based on  their reported income as he and his wife filled jointly and paid $453,770 in federal taxes on their reported income of $1,728,096

At present, according to the IRS, 47% of Americans pay NO federal income tax while the remaining 53% of Americans who actually pay taxes and do not get tax refunds are subsidizing and paying the taxes of these 47% of non taxpayers. Is this a fair share?

The breakdown of the 47% of these American’s who pay NO federal income tax, shows that 54% are single women or families with children where the principle wage earner is a woman.  When you combine non payers and non filers of federal taxes more than half of all households that pay no income taxes are either younger than age 25 or older than age 55.

Is this a fair share?

Within this 47% of non taxpayers the African American, Asian and blacks represent a combined 65% of that ethic group who do not file and or do not pay any federal income taxes.

26% was the Obama’s' effective tax rate for which they received a refund of $12,334 in 2010 based on  their reported income as he and his wife filled jointly and paid $453,770 in federal taxes on their reported income of $1,728,096

Is this the fair share Obama and his administration refers to?

The top 10% of the (53%) of American’s who actually pay taxes and have an annual income in excess of 250,000, have the highest tax rate of approximately 33%.

For those taxpayers with an annual income of approximately $60,000 to 249,999 have a tax rate of 25%, while those having incomes from $33,048 to $59,999 pay at the tax rate of 15%.

At the bottom end of these 53% of Americans paying taxes and make less than $33,048 annually pay at a tax rate on average of approximately 2.7% to 10% taking into account their deduction, refunds etc.

Further " the tax system is highly progressive (as it's intended to be, and not regressive as Obama and Buffet want us to believe from their political analysis of Buffet’s employees' tax rates) and higher income groups pay taxes at a higher rate on average as a share of their taxable income.

Excluding deductions for union dues, just what percent of a person’s wages does Obama and his fellow democrats or the republicans want workers to pay in federal income taxes out of every dollar earned, as recently asked by a young American man?

All taxpayers deserve and should demand an answer to that question above, which the young man asked, from every single politician seeking your vote in 2012 and thereafter.

Is it 10%, 15%, 25%, 26%, (which was Obama’s tax rate) or 30%, 40%, 50% or 65% or greater from every dollar earned POLITICIANS FEEL,

"It's only right we ask everyone to pay their fair share," states Obama!

What Is this fair share for Obama and his fellow career politicians to CONTINUE THE POLICIES OF PROGRESSIVE TOTALITARIAN SOCIALIZED LIBERALISM and supporting the 47% of Americans who pay NO Federal Income Taxes?

Former President Bill Clinton stated that "the Obama Buffet double tax will not solve the problem and which is a little confusing."

Remember folks, these career politicians and the bureaucrats at all levels, work for you and they live off the hog at your expense while you struggle to make ends meet.

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Peter Clarke is a global consulting facilitator with over 27 years experience in business and economics within the private and public sectors and one of the founders of Ellis Clarke one of the largest privately held global strategy facilitation firms in the world.

Peter believes integrity in professional and social settings is a key to their success combined with the experience of working with companies ranging in size from start-ups to multi-billion dollar international conglomerates.

Peter Clarke, Independent, Strong and Proud is a Voice & Vote for the People not a puppet for a political party and Peter strongly believes that Leadership in public service is to ENSURE FINANCIAL RESPONSIBILITY and TRANSPARENCY for the COMMINITY.

Ellis Clarke has clients or associates from Canada, The United States, Latin America, The European Community, Israel, Serbia, Croatia, Lebanon, Russia, China, Iran and Syria.