Wall Street Journal: A Fairness Quiz for the President

Is it fair that some of Mr. Obama's largest campaign contributors received federal loan guarantees?.

By STEPHEN MOORE

President Obama has frequently justified his policies—and judged their outcomes—in terms of equity, justice and fairness. That raises an obvious question: How does our existing system—and his own policy record—stack up according to those criteria?

Is it fair that the richest 1% of Americans pay nearly 40% of all federal income taxes, and the richest 10% pay two-thirds of the tax?

Is it fair that the richest 10% of Americans shoulder a higher share of their country's income-tax burden than do the richest 10% in every other industrialized nation, including socialist Sweden?

Is it fair that American corporations pay the highest statutory corporate tax rate of all other industrialized nations but Japan, which cuts its rate on April 1?

Is it fair that President Obama sends his two daughters to elite private schools that are safer, better-run, and produce higher test scores than public schools in Washington, D.C.—but millions of other families across America are denied that free choice and forced to send their kids to rotten schools?

Is it fair that Americans who build a family business, hire workers, reinvest and save their money—paying a lifetime of federal, state and local taxes often climbing into the millions of dollars—must then pay an additional estate tax of 35% (and as much as 55% when the law changes next year) when they die, rather than passing that money onto their loved ones?

Is it fair that Treasury Secretary Tim Geithner, former Democratic Senate Majority Leader Tom Daschle, former Ways and Means Chairman Charlie Rangel and other leading Democrats who preach tax fairness underpaid their own taxes?

Is it fair that after the first three years of Obamanomics, the poor are poorer, the poverty rate is rising, the middle class is losing income, and some 5.5 million fewer Americans have jobs today than in 2007?

Is it fair that roughly 88% of political contributions from supposedly impartial network television reporters, producers and other employees in 2008 went to Democrats?

Is it fair that the three counties with America's highest median family income just happen to be located in the Washington, D.C., metro area?

CONTINUED:
http://online.wsj.com/article/SB10001424052970204369404577206980068367936.html?mod=googlenews_wsj#printMode

Uncovered: The 15 Tax Hikes Hidden in Obama’s New Budget

Over the last two years, the president has regularly touted his fight to lower taxes for Americans. In fact, his latest budget proposal offered up today is being billed as a package of tough cuts. But buried within the budget’s rhetoric and numerous pages are actually a healthy amount of increases — tax increases, that is. 15 of them.


The folks over at Business Insider note “the budget contains as much as $1.5 trillion in hikes over ten years,” thanks to some diligent sleuthing by the group Americans for Tax Reform.

Here are the hidden increases:

• Raising the top marginal income tax rate (at which a majority of small business profits face taxation) from 35% to 39.6%. This is a $709 billion/10 year tax hike
• Raising the capital gains and dividends rate from 15% to 20%
• Raising the death tax rate from 35% to 45% and lowering the death tax exemption amount from $5 million ($10 million for couples) to $3.5 million. This is a $98 billion/ten year tax hike
• Capping the value of itemized deductions at the 28% bracket rate. This will effectively cut tax deductions for mortgage interest, charitable contributions, property taxes, state and local income or sales taxes, out-of-pocket medical expenses, and unreimbursed employee business expenses. A new means-tested phaseout of itemized deductions limits them even more. This is a $321 billion/ten year tax hike
• New bank taxes totaling $33 billion over ten years
• New international corporate tax hikes totaling $129 billion over ten years
• New life insurance company taxes totaling $14 billion over ten years
• Massive new taxes on energy, including LIFO repeal, Superfund, domestic energy manufacturing, and many others totaling $120 billion over ten years
• Increasing unemployment payroll taxes by $15 billion over ten years
• Taxing management capital gains in an investment partnership (“carried interest”) as ordinary income. This is a tax hike of $15 billion over ten years
• A giveaway to the trial lawyers—not letting companies deduct the cost of punitive damages from a lawsuit settlement. This is a tax hike of $300 million over ten years
• Increasing tax penalties, information reporting, and IRS information sharing. This is a ten-year tax hike of $20 billion.   (Also, calls for adding 5,100 more IRS Agents)

http://www.theblaze.com/stories/uncovered-the-15-tax-hikes-hidden-in-obamas-new-budget/

For immediate release

Retire Butterfield Silent Rally 

Supporters of Ashley Woolard, from several 1st Congressional District Counties, will gather at the Washington, NC Court House tomorrow,(Saturday) in a silent demonstration against Cong. Butterfield (D-Wilson) about certain ethical and pecuniary matters called into question by Woolard and media outlets.
 
According to the Washington Daily News, senior Democrats plan to question Butterfield about these allegations. Butterfield, a member of the House Ethics Committee, has recently come under fire from state and national media, and Woolard, for refusing to return contributions from embattled Congressman Charlie Rangel. Butterfield is also being investigated by the House Ethics Committee for skimming money from cash advances given to Members of Congress to cover expenses while on junkets to foreign lands.


In a recent debate Woolard asked Butterfield about these matters and got evasive answers such as, its not unusual for senior members to contribute to the campaigns of junior members, and, the amount of money was nominal. Woolard responded that the common practice usually didn't pertain to those who took money and then planed to set in judgement of the giver. He also asked what amount was considered nominal, and if the money had been declared on Butterfield's Income Tax returns.

Woolard has called on Butterfield to resign, and for a Justice Department investigation.


For information contact
Bill Tarpenning
Campaign Manager
Woolard for Congress
252-944-5377

Restoring American Federalism