April 13, 2011

The President's Budget Address and the Reality of Taxing the 'Rich'

By Steve McCann
The President is going to address the nation yet again.  He apparently intends to unveil another revised plan to fool the American people into believing he is sincere about reducing the deficit and reining in spending after the unserious budget he presented in February was soundly rejected by the country.  While his hand has been forced by the twin factors of the Republicans in the House (buoyed the effectiveness of the Tea Party movement) and the upcoming Presidential election, he will nonetheless bring up increasing taxes on the so-called wealthy and corporations as one of the primary means of solving the debt and deficit problem.Unfortunately this approach plays well among the less enlightened and Obama's left-wing base who are in the thrall of class warfare and the capability of that argument to enflame passions and potential violence.  This argument is solely being utilized to keep the Democrats and their allies in power.  The reality is raising taxes and...(Read Full Article)