April 13, 2011
Here he goes again with another speech! In an act that could be described as political shoplifting, President Obama today delivers a speech in which he is expected to lay out plans for cutting spending; this from the biggest spender in the history of America. He will do this by reducing military spending and eliminating the Bush-era tax cuts.
As for taxes, why would you give a binging college student more alcohol and why would you give binging government more money when it has already demonstrated it can’t live within our means?
The top five percent of earners pay more than half the taxes. The top one percent pays 33 percent of the taxes. The bottom fifty percent of taxpayers pay only 3.6 percent of all taxes. Even if you taxed all of the income of the wealth you still wouldn’t have enough to afford what government spends.
Republicans should hold out for spending reductions and no new taxes. They’d better, or they will be replaced by those who will.
Cal Thomas is a nationally syndicated columnist based in Washington, D.C.