The Lying Grey Whore (NYT) is reporting today that Obama is heading west to sell his new budget. Obama and his Liberal Media are touting his brand new â€œtax expendituresâ€ as the answer to all our problems. Actually itâ€™s a view deep into the Democrat soul.
â€¦there was still uncertainty about parts of Mr. Obamaâ€™s plan, notably how it would affect taxes. The White House said it could generate $1 trillion in savings from â€œtax expendituresâ€ â€” closing loopholes on deductions for charitable donations, interest payments on home mortgages and the like.
â€œTax Expenditures,â€ hmmm. Expenditures are something that you are forced to do with your money. Floyd and Mary Beth Brown at GOPUSA point out the deep Democrat secretâ€¦ (all emphasis mine)
Obama is a born again deficit cutter. He wants, according to his speech at George Washington University this week, to slim down the nationâ€™s deficit by a whopping four trillion dollars in the next twelve years. To achieve this miraculous goal he has a top secret weapon. It is called the â€œtax expenditure.â€
Now tax expenditures are not new, they have been around for many years, only we knew them by a different name. The old- fashioned name which is heretofore banned from the lexicon is: tax increase.
The best part is hereâ€¦
If you assume that all money belongs to the government and the people are privileged to get back some of the product of their labor, then the money doled out to the pockets of Americans must be expenditures.
It works like this. You buy a home and pay lots of interest to the bank in the form of a mortgage. When at the end of the year we add up your income, you are allowed to deduct the interest you paid to the bank from that income. This lowers your overall income tax bill.
Republicans believe that the lower tax bill is your total tax bill. Obama believes that your tax bill was actually higher, and the government was giving you money to help pay the mortgage. Hence, when he takes away your mortgage deduction, he is actually cutting government â€œtax expenditure.â€
So Obama is actually cutting government spending by increasing your taxes. You must credit the Obama team for this genius marketing of tax increases.
Democrats believe that all your earnings, all your property, rightfully belongs to the Government, they merely allow you to keep or receive a portion of those earnings, or property, or even a portion of your â€œpursuit of happinessâ€ to, wellâ€¦ Keep you happy. Bread and Circuses. There must be a Czar in the administration that can change the Declaration of Independence to read the way the Democrats see things. Iâ€™m sure that will be happening soon.
We hold these truths to be self-evident, that all men are
createdjudged equal by their betters, that they are endowed by their Creatorbeneficent Government with certain unalienable Rights, that among these are Life, Liberty and the pursuit of Happinesslifetime of servitude on the Government Teat.
Thatâ€™s a huge step forward, ainâ€™t progress grand?