Obama: Top Income Earners are just Lucky
examiner ^ | 5 mins ago
Posted on Friday, July 17, 2009 11:17:24 AM by jessduntno
July 17, 10:02
In an interview with CBS News, President Barack Obama noted that increasing taxes on the wealthy is a ‘good idea’ when it comes to finding a way to pay for his proposal to nationalize the healthcare industry. As noted in my previous article, increasing taxes is nothing new for Obama or any other Democrat – it is simply what they do. However, it was somewhat disturbing to hear how Obama described the wealthy. Here are a couple of statements from his interview:
I think the best way to fund it is for people like myself, who have been very lucky and are in the top -- not just 1 percent, but top half percent -- of the income ladder to pay a little bit more.
The general notion that those of us who are the best off can pay a little bit more upfront to help reform a system that will save us money over the long term, I think that's a good idea.
First off, the latter statement is certainly reminiscent of Obama’s ‘spread the wealth around’ comment that he made to Joe the Plumber during the presidential campaign. Of course in this case he is saying that the wealthy should pay more so that the poor will save money. But as the CBO has just reported, there is no guarantee that the current healthcare reform proposals will do anything to actually save money and are more likely to increase costs instead.
(Excerpt) Read more at examiner.com ...
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This is what we get when we elect a person who does even grasp the most basic concepts of economics and how wealth is generated.
He is lucky because he made millions selling books based on a rock star image the media created for him.
However, a doctor, lawyer, inventor, engineer, etc who starts a busioness and takes 10 - 20 years to takes risks to become wealthy is far from lucky. For a president of the USA not to understand this is scary and shows why his policies will all fail.