Thursday, October 4, 2012

$1,000,000,000,000 Tax Increase: Biden

From Fox News: For everyone who claims the Obama administration wants a $1 trillion tax hike, Joe Biden has a message: Yes, we do.
The vice president was referring Thursday to the Democrats' pledge to let the Bush-era tax cuts on the country's top 2 percent of earners expire at the end of the year, while maintaining current rates for other Americans. Republicans have called for maintaining the current rates for all Americans.
The call for a tax hike on top earners was hardly new, but Biden's characteristic bluntness gave Republicans fresh fodder to criticize the Democratic ticket just days after the vice president said the middle class has been buried during the past four years.
"On top of the trillions of dollars in spending that we have already cut, we're going to ask the wealthy to pay more. My heart breaks. Come on man," Biden said, during a stop in the battleground state of Iowa.
Biden said Romney and other Republicans often say "'Obama and Biden want to raise taxes by a trillion dollars.' Guess what? Yes, we do in one regard: We want to let that trillion dollar tax cut expire so the middle class doesn't have to bear the burden of all that money going to the super-wealthy. That's not a tax raise. That's called fairness where I come from."
Even if you confiscate 100% of the money of the top 1%, I don't think you will reach $1,000,000,000,000.  So, who else where they going to tax?  Look in the mirror and you will find out who.

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