Obama is Just Trying to be Fair

We’ve all heard Obama’s “spreading the wealth” comments. When Biden was asked about taxing businesses, he said it was time for the “rich” to be “patriotic.” They deny being socialists but they just keep repeating things like this over and over.

In the Democrat primary debates, Obama was asked about his plan to increase the capital gains tax. It was pointed out that, in the past, every time the rate is cut, revenue to government increased. It’s simple economics really, if you want more of a given activity, you lower tax on it; if you want less of an activity, you raise taxes on it. If somebody is considering selling some stock, but knows he’s going to pay a huge capital gains tax if he does, he might postpone selling it. If the rate is low enough, he might sell it and pay the tax. If he doesn’t sell it, the government collects NO tax regardless of how high the tax rate is.

Since the government is supposed to collect taxes to raise revenue, they should set the tax rates at where they collect the most revenue. Right? Apparently Obama doesn’t think so. He believes the tax code is a tool to impose “fairness.” I’m not kidding – he doesn’t care about revenue to the government; he simply wants to stick it rich folks because it’s not fair they make so much.

Listen to him in his own words how he wants to impose higher taxes to create “fairness.”