Saturday, October 17, 2015

The Biggest "Fair Share" Ever

by JASmius

"Deficit-reduction," we are told, can only come from "enhancing revenues," never from reducing expenditures.  Or, as leftwingnuts prefer to put it, "the rich paying their 'fair share,'" which they're never given credit for doing, no matter how high top rates get jacked.

And yet, though We, The People, paid more in fiscal 2015 than ever before, that deficit still isn't getting any smaller:

Taxpayers paid $3.25 trillion in taxes in fiscal year 2015, federal data released this week shows, but the government still ran a massive deficit over the same period.

The taxes that came in were an increase of 8% and marked the highest amount on record, according to the Monthly Treasury Statement, reports CNBC.  The total was $228 billion over the total receipts for fiscal year 2014.

Most of the tax money came from individuals, who paid one-third of the taxes, or $1.54 trillion of the total, compared to corporations, who only paid one-ninth of the taxes, or $347.8 billion.

Other tax revenue came from retirement, excise, estate, and gift taxes, customs duties and other tax payments.

And yet it still wasn't enough to avert another half-trillion dollar deficit, down from the trillion-plus dollar deficits of Barack Obama's first term only because of the 2011 sequester (that got jettisoned almost two years ago).

And yet the Regime had the brass to issue this statement:

"President Obama’s agenda continues to put Federal finances on a sustainable footing while laying the foundation for durable economic growth and broadly shared prosperity," said Lew.

"Under the President’s leadership, the deficit has been cut by roughly three-quarters as a share of the economy since 2009 – the fastest sustained deficit reduction since just after World War II."

That is so disconnected from economic and fiscal reality that it's chill-inducing - and I do mean in a Halloween sense.  Just the phrase "the president's leadership" - an oxymoron if ever there was one - is vertigo- and nausea-inducing, since he had nothing whatsoever to do with any of it, fought the sequester like the devil, and his policies are designed to accomplish the precise and deliberately opposite result.  Which they continue to do.

This also reflects the debasement of the dollar that the Yellen Fed has been dutifully carrying out for the past seven years.  Paying more and more increasingly worthless greenbacks to the feds reflects nothing of any mythical "economic growth" or (note the Marxist qualifiers) "broadly-shared prosperity".  Which means "no prosperity".

And what does The One and every other Democrat seek?  Higher taxes.  Because we still have this pesky deficit/debt problem, and the "rich" are still not "paying their fair share".

No matter how much they're syphoned.

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