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‘Taxman’ was when I first realised that even though we had started earning money, we were actually giving most of it away in taxes. It was and still is typical. – George Harrison

The Beatles (a famous musical group for those of you too young) had a song about the Taxman. When George Harrison wrote that song in 1966 he could have been talking about the Democratic Party in general. In retrospect however they must have known that a Barack Obama like figure was going to appear in the future because everything in that song could apply to his specific plans for America.

Barack Obama has already indicated that he would raise the cap on income subject to Social Security; an action that throws good money at a bad problem without addressing the root cause.

Now Obama is saying that he will raise the Capital Gains tax to no more than 28% (nearly double what it is now). Of course Obama wants people to believe that this will only affect the rich because in the world of liberalism only rich people make enough money to have capital gains. However, about half the country owns stock and other items that would be subject to the higher tax. Thus everyone who invests for the future will have that future attacked by Obama, the Taxman.

The rich already know how to shelter their money. Warren Buffet, a man Obama claims to have discussed his tax ideas with, shelters his money. John Kerry’s wife earned 2.54 million dollars in non taxable interest by investing in things she did not have to pay taxes on. The rich know how to avoid taxes. The rest of us will end up paying the 28% to fuel the government. Once again Obama misses the boat because higher taxes stifle investment and they do not address the root cause of the problem.

The real problem is out of control spending. The federal government spends more than it takes in and it continually invents new ways to spend more and more. Little is ever cut and lawmakers fight tooth and nail to keep pork projects and earmarks which waste taxpayer money. This country does not pay too little in taxes, we spend too much. Social programs account for around 70% of the budget. Congress never cuts programs or consolidates, it just makes new programs and adds money to failing ones. Couple this with earmarks and spending spirals out of control. (not like Hillary’s airplane)

Obama wants to add to the tax burden of the people in this country. There is no need for this and it is regressive. An increase in the capital gains tax will stifle investment and add to our economic woes. Increasing taxes on the wealthy will lead to the creation of fewer jobs. Obama claims to be for change and he claims to be progressive with new and progressive ideas but his ideas are the same old worn out tried and failed liberal tax and spend programs that keep people enslaved to the government.

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