Category Archives: budget
More Sacred Bull
The president is sharing the sacrificial bull till the sacred cows come home. He has the Republicans where he wants em, continue building on his 24% grab of the economy or take the blame for a social security scare.
Presser
The president’s press conference ran about an hour today. It seemed like each answer ran that long. The thrust was 1.) the Republicans better do their job and raise taxes and 2.) Malia and Sasha are more responsible than Congress. Number 2 I agree with.
Grannie Wars
According to Democrats, Paul Ryan wants to throw grannie off a cliff. Obama just wants her to take a pill.
Don’t Tax You, Don’t Tax Me, Tax that Fellow Behind the Tree*
According to The IRS, 45% pay no income tax. The richest 1% earn 22% of all the money and pay 38% of all the federal income taxes. The richest 5% pay 60% of all the income taxes.
You could squeeze them for more but, as Walter Williams points out, the rich are smart with their money. Since 1960, whether the top marginal rate was 91% or 35%, the government take never varied more than 15-20 percent of GDP.
