I am really sick to death of the over-use of this phrase “tax cuts for millionaires and billionaires.” Our own president is still using this line to refer to the Bush tax cuts! On Monday, Obama said, “I believe it is a mistake for us to borrow $700 billion to make tax cuts permanent for millionaires and billionaires. It won’t significantly boost the economy, and it’s hugely expensive. So we can’t afford it.” The “millionaires and billionaires” line works though … it’s a transparent and direct play for the wealth envy crowd.
Know this … Obama is fully aware that these tax increase on the high achievers will cost jobs. Obama is a smart guy. He knows that when you punish people for the very behavior you are seeking you are going to get less of that behavior. This is not about tax revenue. This is all about punishing high achievers. Obama’s mindset here – his programming – is that the wealthy got where they are by exploiting other people. This wealth wasn’t fairly earned. It was acquired by abusing and plundering those in the lower income brackets. To Obama the high income earners are symbolic of countries that colonized Africa and other parts of the world. They are plunderers. They steal wealth and resources from the people to make themselves rich. They have abused those below them, and I’m here to make things right.
Now we have the union goons out there parroting the same line. AFL-CIO President Richard Trumka is frustrated that Obama is even willing to consider a temporary extension of tax cuts for the evil rich. Trumka called an extension of all the tax cuts “absolutely insane,” adding that “millionaires don’t need it and won’t spend it.” Well, that’s Trumka. This fool believes that it is the government’s job to determine just how much of the wealth a person earns that person actually “needs.” There’s a nice Marxist thought process for you. Typical Trumka.