Obama wants to raise taxes on the rich in order to lower them on the poor and the lower middleclass and in order to pay for more welfare for the poor and lower middleclass.
Basically, Obama is going to take about $15000 dollars (approximately) from every "wealthy" person so he can give $500 dollars to every poor person.
- On the one hand, the amount the poor person is going get from Obama is not going to be enough to make a real difference in their life.
- On the other hand, the amount the rich are going to lose is going to be enough to retard investment and slow economic growth and the creation of more jobs and greater prosperity.
That's why there's a net loss for the economy and why poverty goes on essentially unabated at best - or worsens under socialism.If multiplier effects of make-work government spending and welfare truly grew the economy then the USSR would be the richest economy on Earth - (right ahead of Zimbabwe and North Korea. And Thatcher wouldn't have had to save Britain from Attlee - or Reagan save the USA from The Great Society).
SO, WHERE IS THE USSR TODAY?
Well, now you know why.
PS: To Obama, rich means anyone making more than $250,000. In NYC that's A LOT of people. And they mostly voted for Obama. Idiots.
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