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Greedy Obama

March 2, 2012 by  

Even worse than I said. My Straight Talk column last week on Obama’s budget baloney actually understated his new tax and tax, spend and spend proposals. I said he wanted to raise the tax on dividends for “the rich” to 39.6 percent — more than double where it is now. But I forgot to include the investment tax surcharge included in Obamacare and the phase-out of deductions and exemptions. Add it all together and, if Obama gets his way, the dividend tax rate in 2013 will be 44.8 percent — nearly three times what it is today.

Make these bureaucrats pay up. Figures released by the Internal Revenue Service indicate that one of the biggest bunches of tax shirkers can be found on the government payroll. The Associated Press reported that more than 279,000 Federal workers and retirees owed $3.4 billion in back income taxes as of Sept. 30, 2010. White House employees owed Uncle Sam almost $1 million. Staffers on Capitol Hill owed more than $10.5 million. I suggest a new policy: Pay up or lose your job.

Poverty is disappearing. The number of people living in absolute poverty has been cut in half since the 1950s. Moreover, 95 percent of Americans living below the poverty line not only have electricity and running water, but a color TV, a refrigerator, and Internet access — things a millionaire couldn’t have purchased a century ago.

–Chip Wood 

Chip Wood

is the geopolitical editor of PersonalLiberty.com. He is the founder of Soundview Publications, in Atlanta, where he was also the host of an award-winning radio talk show for many years. He was the publisher of several bestselling books, including Crisis Investing by Doug Casey, None Dare Call It Conspiracy by Gary Allen and Larry Abraham and The War on Gold by Anthony Sutton. Chip is well known on the investment conference circuit where he has served as Master of Ceremonies for FreedomFest, The New Orleans Investment Conference, Sovereign Society, and The Atlanta Investment Conference.

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