Wednesday, September 21, 2011

X Factor; Is The Administration Lying About Taxes?; Even The Main Stream Media Takes Obama To Task; Pres. Clinton Hammers The Administration Too

President Obama said his new jobs plan will create 1.9 million jobs---and up to 50 of them will be right here in America---Leno

  • One short mention about X Factor. I'm sure it will be a hit even though the contestants on most of these shows have little talent. But, like American Idol, if the show succeeds it will be for one reason and one reason only: Simon Cowell.
  • When I opened the newspapers this morning and checked the news online, I was shocked---shocked---at what I was reading in the mainstream media. In short, many were reporting that the president and democrats are playing fast and loose with the facts on taxes. Even The Philadelphia Inquirer, a very progressive paper (they ran about 27 straight editorials supporting that fake, phony and back-stabbing fraud, John F. Kerry prior to the 2004 election) had this piece today: "Data Dispute Obama's Tax-Inequity Claim: He Declared Lower Rates For The Rich Than For The Middle Class. Most Wealthy Pay A Higher Rate." That headline says it all.
  • Even The Associated Press (AP) ran a piece in the NY Post with the headline: "Mr. President, Here's The Truth On Taxes." AP then outlines the facts that are completely opposite of what the President and many Democrats have been proclaiming about who pays and who does not pay taxes. The editorial in the Post, "Presidential Prevarication," reinforces this claim.
  • So what are the facts? 10% of households with the highest incomes pay more than half of all federal taxes and they pay more than 70% of federal income taxes. Households making more than $1 million will pay an average of 29.1% of their income in federal taxes, including income taxes, payroll taxes and other taxes. Households with incomes between $50 and $75 grand will pay an average of 15% of their income in federal taxes. Those making between $40-50 grand, they pay 12.5%. And those with incomes between $20-30,000 pay 5.7%.  And 46% of households in middle and low incomes will pay a big, fat zero in federal income taxes (The Tax Policy Center, AP, NY Post, IRS and many other sources).
  • Even the hero of the Left, Pres. Clinton, said taxes SHOULD NOT BE RAISED NOW  until the economy improves. He added the additional taxes on the rich will not solve our debt problem.
  • It appears this debate is having even more of an effect on Pres. Obama's popularity. Even USA Today/Gallup reports that the blame for the economy is shifting from blaming Bush to blaming Obama (how many times can the Obama administration use the excuse, "My dog ate my homework?").
  • And the new MCClatchy-Marist Poll found that the president looks increasingly vulnerable in next year's election. A majority of voters now believe he'll lose to any Republican. In fact, even Sarah Palin, who has not declared, trails the president by only 5 points, 49-44%. That's just a hair outside the margin of error.
  • "Recession Is Over News"---Merck is planning on eliminating 15,000 employees before the year ends.
  • To add insult to injury, home building in August fell 5% to levels we have not seen in 60 years. Builders began work on a whopping 571,000 homes. That's less than half the 1.2 million in a healthy economy (USA Today, Money).
  • The UN General Assembly is meeting in NY this week. Rwandan President Paul Kagame, a dictator, is staying at an $16 grand per nite suite at the Mandarin Oriental. The average income in Rwanda is $1,150 per year.
  • Oh, yes, one more thing. If you're still considering vacationing in Mexio, you should know that 35 bodies were dumped on a busy street in Boca del Rio.

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