So, if we adhere to the liberal way of thought, then if we tax the rich more then all of our fiscal problems would be fixed. The liberals would have us believe that if the government takes in the money, then the government is best equipped to dole out the revenue to the appropriate entities that need said monies.
Let's break it down a bit to better understand it how Obama put it in a recent interview. Our wonderful President stated: "I think it's only fair to ask an oil company or a corporate jet owner that's doing so well to give up that tax break. I don't think that's real radical." So, if we are to understand it, if we tax the living shit outta that oil company for certain business expenditures that are currently tax deductible due to self investment that creates jobs, or tax that corporate jet at a higher rate than any other business vehicle then ALL of our problems will be solved.
Smells like class warfare to me.
Currently in the United States, the oil and gas industry contributes to over 9 million direct and indirect jobs. Every year the oil and gas industry contributes close to A HALF A TRILLION DOLLARS to the united states economy. I couldn't find definitive numbers on the number of people that work in support of corporate jets but it's none the less significant. What this paragraph illustrates is that any tax breaks that these entities garner have a net effect of creating jobs! The President stated that people could just use the regular airport instead of corporate jets, in his words “Why wouldn't we eliminate tax breaks for corporate jets? My attitude is, if you got a corporate jet, you can probably afford to pay full freight, not get a special break for it."
Let's look at those tax breaks for jets. Let's look at a high end jet, Bombadier $150 Million. Now let's give that a tax break of 10% accellerated depreciation, so it's going to loose $15 Million a year in TAXABLE value, equipment deductions if you will. Now, it's been stated that this change would net the government $3 Billion dollars over 10 years. There are about 12,500 Business class jets in the United States. I'm just going to pull a number out of my ass on this one, but let's say that it costs an average of $1 Million dollars a year in upkeep each jet (it may actually be more, but numbers I've found suggests this to be about the average). So, by my math that would be $12,500,000,000 a year in expenditures just to keep up these planes! That's pilots, ground crews, mechanics, flight personnel, fuel and storage. $12.5 Billion per year in job stimulus! What in the hell is the government going to get out of that $3 Billion over 10 years?
Sounds like another case of...Nothing to see here folks, move along.
Taxes already disproportionally penalize the top earners in our national monetary structure. The job creators carry the bulk of the cost of government. The Liberals say that they can afford it. I call shenanigans. The liberals can't see the future past the present. It's riduculous to pay for the present with money from the future. Ain't got money for some liberal whack job, feel good social program..let's just borrow more. Need even more money? Screw it..tax the rich..they can afford it. What the idiots don't understand is that they don't cut their own pay when their costs rise..they cut people. Job.
So...go ahead ya liberal whack jobs, cut more jobs..pretty soon the system will be crushed under it's own weight and the people you profess to champion will be those who suffer the most.
That's my two cents, spend 'em or put 'em in the dish for the next person.
