0 thoughts on “Ron Paul: End the Stimulus: Gov't is a Terrible Venture Capitalist

  1. Want more proof? You got it:

    “Obama announces debt plan built on taxes on rich”

    “September 19, 2011 — WASHINGTON (AP) — In a blunt rejoinder to congressional Republicans, President Barack Obama called for $1.5 trillion in new taxes Monday, part of a total 10-year deficit reduction package totaling more than $3 trillion. He vowed to veto any deficit reduction package that cuts benefits to Medicare recipients but does not raise new revenues.

    ‘We can’t just cut our way out of this hole,’ the president said. The president’s proposal would predominantly hit upper income taxpayers but would also reduce spending in mandatory benefit programs, including Medicare and Medicaid, by $580 billion. It also counts savings of $1 trillion over 10 years from the withdrawal of troops from Iraq and Afghanistan.

    The deficit reduction plan represents an economic bookend to the $447 billion in tax cuts and new public works spending that Obama has proposed as a short-term measure to stimulate the economy and create jobs. And it gives the president a voice in a process that will be dominated by a joint congressional committee charged with recommending deficit reductions of up to $1.5 trillion.

    His plan served as a sharp counterpoint to Republican lawmakers, who have insisted that tax increases should play no part in taming the nation’s escalating national debt. Obama’s plan would end Bush-era tax cuts for top earners and would limit their deductions.

    ‘It’s only right we ask everyone to pay their fair share,’ Obama said from the Rose Garden at the White House. In issuing his threat to veto any Medicare benefits that aren’t paired with tax increases on upper-income people, Obama said: ‘I will not support any plan that puts all the burden for closing our deficit on ordinary Americans.’

    Responding to a complaint from Republicans about his proposed tax on the wealthy, Obama added: ‘This is not class warfare. It’s math.’ The Republican reaction was swift and derisive. ‘Veto threats, a massive tax hike, phantom savings, and punting on entitlement reform is not a recipe for economic or job growth_or even meaningful deficit reduction,’ Senate Republican leader Mitch McConnell said in a statement issued minutes after the president’s announcement. ‘The good news is that the Joint Committee is taking this issue far more seriously than the White House.’

    Obama’s proposal comes amid Democratic demands that Obama take a tougher stance against Republicans. And while the plan stands little chance of passing Congress, its populist pitch is one that the White House believes the public can support.

    The core of the president’s plan totals just over $2 trillion in deficit reduction over 10 years. It would let Bush-era tax cuts for upper income earners expire, limit deductions for wealthier filers and close loopholes and end some corporate tax breaks. It also would cut $580 billion from mandatory programs, including $248 billion from Medicare. It also targets subsidies to farmers and benefits programs for federal employees.

    Officials cast Obama’s plan as his vision for deficit reduction, and distinguished it from the negotiations he had with House Speaker John Boehner in July as Obama sought to avoid a government default.

    As a result, Obama’s proposal includes no changes in Social Security and no increase in the Medicare eligibility age, which the president had been willing to accept this summer. Administration officials also said that Obama’s $1.5 trillion in new taxes is a goal that Congress could achieve through a broad overhaul of the tax code. They said the president’s specific proposals represent one way to get to that goal under the existing tax code.

    Coupled with about $1 trillion in cuts already approved by Congress and signed by the president, overall deficit reduction would total more than $4 trillion, a number many economists cite as a minimum threshold to bring the nation’s debt under control.

    Key features of Obama’s plan: —$1.5 trillion in new revenue, which would include about $800 billion realized over 10 years from repealing the Bush-era tax rates for couples making more than $250,000. It also would place limits on deductions for wealthy filers and end certain corporate loopholes and subsidies for oil and gas companies.

    —$580 billion in cuts in mandatory benefit programs, including $248 billion in Medicare and $72 billion in Medicaid and other health programs. Other mandatory benefit programs include farm subsidies and federal employee benefits. Administration officials said 90 percent of the $248 billion in 10-year Medicare cuts would be squeezed from service providers. The plan does shift some additional costs to beneficiaries, but those changes would not start until 2017.

    —$430 billion in savings from lower interest payment on the national debt. — $1 trillion in savings from drawing down military forces from Iraq and Afghanistan. Republicans have ridiculed the war savings as gimmicky, but House Republicans included them in their budget proposal this year and Boehner had agreed to count them as savings during debt ceiling negotiations with the president this summer.

    Illustrating Obama’s populist pitch on tax revenue, he suggested that Congress establish a minimum tax on taxpayers making $1 million or more in income. The measure — the White House calls it the “Buffett Rule” for billionaire investor Warren Buffett — is designed to prevent millionaires from taking advantage of lower tax rates on investment earnings than what middle-income taxpayers pay on their wages.

    That minimum rate, however, is not included in the White House revenue projections. Officials said it was a suggestion for Congress if it were to undertake an overhaul of the tax code. .At issue is the difference between a taxpayer’s tax bracket and the effective tax rate that taxpayer pays. Millionaires face a 35 percent tax bracket, while middle income filers fall in the 15 or 25 percent bracket. But investment income is taxed at 15 percent and Buffett has complained that he and other wealthy people have been ‘coddled long enough’ and shouldn’t be paying a smaller share of their income in federal taxes than middle-class taxpayers.”

    1. If Ron Paul is not elected President, you can still count on the troops coming home. Some will be coming to join us in the revolution to get our Republic back under the Constitution, others to serve their International Corporate Mafia masters by trying to stop the revolution. Americans are sick of the wars, sick of the lies, and sick being fed propaganda while starving to death in the streets.

        1. You know these MFer’s are going to try and rig the election when they see Ron Paul winning. I’m no fan of Al ” the whore” Gore, but he got ripped off bigger than shit in 2000, where coincidentally, the deciding state was Florida, where coincidentally, the Governor was George ” the bastard ” Bush’s brother. We’re livin’ in exciting times, boys ! I ain’t ever been in no revolution.

          1. Actually I can think of more “exciting” events…but it looks like they have “cast the die” as far as “they” are concerned.

            This is not a decision taken by the American people.
            What sane citizen would want such?

            These “lords of wealth and power” are clearly resolved to create this reality and have always been so. It is only those who plotted the course we are on that could reverse it peacefully.

            We can now see why the first thing they did was create a legal climate in which the perpetrator of a criminal act is better protected than one who defends himself against it.

            It’s the cycle of pure evil returning to power over mankind…nothing more and nothing less. “Exciting”? I guess…kind of like a plane crash. Wow….sounds like fun! Can’t wait! Just what we militant, tax paying, law abiding, working slobs have always hoped for…right?

            Makes me puke.

          2. No, Clark…I got it….just playing off it and driving it home for the less mentally gifted who visit this site as enemies of liberty.

            The true nature of the American people is incomprehensible to them since their DNA is programmed for thievery, deception, and the acquisition of tyrannical power at any cost. They are amoral sociopaths…. cold blooded psychopathic killers and are the epitome of evil.

            The real American is a truly peace loving patriot and it is the lover of peace and justice in his homeland that reacts most strongly when provoked to fight for everything he believes in.

            That is why if these psychopaths think it’s going to be a walk in the park they have a big surprise awaiting them and I just seek to convey for the ignorant reader that the American people only want to remain the owners of their just and due legacy of freedom. If it comes to violence, and may God forbid, it will be freedom fighters against mercenaries exactly the way it was the first time.

            How that will go remains to be seen but it sure ain’t gonna be pretty. Sad state of affairs to say the least. I am sure I’m not alone in praying it doesn’t get to that.

          3. Well, Angel…it sure doesn’t add up that they intend to be stopped by something as easy to manipulate as an election does it? The evidence that it’s already being done is so obvious it’s pathetic!

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