Fat Cats, Corporate Jets, and the Children

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fat catPresident Obama wants the rich to pay their fair share. During a news conference the other day, he stressed the need to raise taxes on America's wealthiest:


If we do not have revenues, that means there are a bunch of kids out there who do not have college scholarships ... [It] might compromise the National Weather Services. It means we might not be funding critical medical research. It means food inspection might be compromised. I've said to Republican leaders, 'You go talk to your constituents and ask them, "Are you willing to compromise your kids' safety so some corporate-jet owner can get a tax break?"

Apparently fat cats are responsible for paying for other people's kids to go to college. Remember the good old days when kids were expected to take out loans or work their way through school? Or excel at something and win a privately funded scholarship?

Our economy is in the crapper and President Obama is putting pressure on Congress to raise taxes on those making over $250,000 a year, or as he calls them, the jet owners. Never mind that a person has to make way more money than that to even charter a plane on a regular basis, let alone own a private jet.

There's another word for The Rich – Job Creators. These are the bosses, the people that employ others to create and sell and serve, the ones that sign paychecks that keep roofs over heads. If you excessively tax these people to pay people that don’t work, they’ll have less capital to hire people that will work

Even if the Bush tax cuts were completely repealed, it would raise revenue by only about $60 billion. The federal deficit for 2011 alone is expected to hit $1.5 trillion. Which means that the deficit is twenty-five times the amount the ‘fat cats’ are ‘stealing’ from the children. 

Don’t be swayed by persuasive rhetoric. Government spending is out of control. Pigford. Shrimp on treadmills. Crack monkeys. Farm subsidies. Out of control pensions. The list goes on. The money is there; it’s just not being spent well.

We don’t have a revenue problem. We have a spending problem.

 

Image via kretyen/Flickr

barack obama, corporations, economy, in the news, media, politics, taxes

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bills... billsfan1104

I just dont understand what the democrats think is paying the fair share.  When I make a bonus check over 5k, I am taxed of 40%.  Why??  Its so stupid.  I worked my ass off for the bonus check, and the governmetn is taking over 40%, and that is just federal.  THe millionairs that he keeps bitching about, pay over 50% of their income.  How is that not paying the fair share?/??  How much do they want to take??


I thought about this the other day.  It use to be that people took pride in working two or three jobs to put food on the table, when they are in a rut.  They would of never of thought to ask the government to pay for them, or expect the government to pay for them.  It use to be that people were responsible for their family if they were to eay or not.  They sacrificed things like brand new clothes, new shoes, etc etc until they got out of the rut.  I guess the old adage of "you give them fish and they eat for a night, you teach them to fish and they eat foever:. 

rerra... rerratron

The Bush-era tax cuts were intended to be TEMPORARY. They were supposed to EXPIRE. If these people absolutely "need" these temporary benefits because they are the "job-creators," could you explain where these jobs have been for the last decade?

douxm... douxmusique

well.... see.... if i could get a job that paid enough to even keep $20 leftover from childcare expenses for three kids, i'd get one. Trouble is, mcdonalds won't even hire me with the pool of applicants they have. So FINDING the three jobs is next to impossible.


the whole thing is complicated. we want this,t hey want that, everyone argue over the best way to get everyone what they want. story of history, nothings going to change. we'll always have a deficit. BUT the fact is: less spending, more revenue. PERIOD. both sides need to give.

sophgro sophgro

I disagree with so much of this for so many different reasons... but I lack the enthusiasm to spar or debate.  It's all tired to me.  This is just the beginning signs of the political rhetoric we have ahead for the 2012 debates and elections. 

butte... butterflymkm

It needs to go both ways. Spending needs to be cut in certain areas and someone really needs to look into the agriculture subs, we do

need to keep working on medical advancements, we do need to set a limit on how many years a person needs to work to get a pension & cap it at a reasonable living wage. BUT the bush era tax cuts need to go & I'm glad it's over. People can talk about job creators & all that but we tried this with Reganomics and we know it doesn't work. We need to cut spending AND increase revenue.

hotic... hoticedcoffee

I agree that we have a spending problem.  We're at a point where every working American could be taxed at a rate of 100% of their income, and we'd still be running at a defecit.  How can anyone with a brain can think that digging even deeper into the pockets of "the rich"  will solve anything?  How can anyone with a brain fall for this endless B-S about food not being inspected and medical research being halted (autistic kids not getting services, the elderly being left without medical care, poor women suddenly squeezing out 15 unwanted, starving children who were the product of incest......go ahead and pick one....)?   How can anyone support a man who has to resort to such ridiculous, idiotic claims of catastrophe to get people to agree with him? 

JAFE JAFE

I'm sick to death of paying for stuff for other people who don't want to work. SICK. OF. IT. Let's face it, Obama's had his chance and he's not kept one promise he's made. How many people get to keep their job if they don't do it? Not only not do it but not listen to what the people want who put him there. I think we're way past the point of worrying about kids going to college on our dime. We need to get people back into the homes they've lost and get jobs. Let's hope the "fat cats" keep their business's open so we are able to work. The only people who are crying over lost benifits are the people who take advantage of them in the first place.


I agree with you billsfan. Completely.

Colet... Colette923

Rich people already pay a ridiculous percentage of taxes. They deserve to make money too. Just because you earn more money doesn't mean you should be punished. All people should pay the same percentage of taxes.

jagam... jagamama0710

I'm with sophgro. 


Can anyone explain why people are saying "WE NEED TO CUT SPENDING EVERYWHERE. WE NEED TO DO ANYTHING TO GET MORE MONEY" but if it's about the rich guys...."it's not going to solve the problem. it's pointless bc it would only bring in a small amount. why bother?". 

nonmember avatar Anon

As a small business owner who is reinvesting to create jobs and boost commerce, I'm one of those "fat cats" as far as taxable income goes. Last night I took my kids to a community music festival (free). They really wanted some pizza, which we normally never buy. So I bought us a $10 pizza to share. I was feeling kinda bad about spending $10 just for fun. Then I thought, I pay $300 per day in income taxes. Why should I feel guilty spending $10 on a pizza to share with my kids? ... The other day I went to a WalMart in a "highly distressed" area of the city. An area my business has invested in, I might add. The folks at the checkout were predominantly overweight and their groceries were predominantly casefuls of Sprite, Coke, etc. I never buy stuff like that because it's a waste of money. Yet I guarantee that my tax dollars are paying for some of those people's pop. So yeah, when is my tax bill ever gonna be enough? And when is the other half of America (which pays zero income taxes) gonna be asked to pitch in? Why doesn't Obama come up with some way for the unemployed to contribute something to the common good?

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