By Robert Style
President Obama is yelling, almost screaming, that government wants the money back it gave to the financial institutions. He didn’t say taxpayers, he said government.
If any money comes back to government, it should go to those who pay taxes. About 47 percent of people who file tax returns do not pay taxes. Most get refunds. It leaves the rest of us, some 53 percent, to carry the load. And who are the 53%? It’s those making $32,000 dollars or more, about 50 percent of us. Those making under $32,000 pay less than 3.5% of what it takes to run the federal government.
Many politicians use the tax codes to benefit their personal finances as well as their political careers. Why else would they choose the age of 59.5, not 60 or 65, as the age you can withdraw money from an IRA without a penalty: why else choose 70.5, not 65, 70, or 75 as the age to require minimum distributions. They changed the definition of who is a dependent so that people who are actually dependents of the state can be claimed as deductions for individuals. They’re changing the IRS into a welfare agency.
Politicians use our money to buy votes thereby creating a dependent society, one that relies on politicians who, without the dependents they created, would not be elected.
Thanks to political favors, we are becoming a nation of freeloaders. It’s time to stop. The President should not get the money back, taxpayers should.
President Obama wants accountability from institutions but not from individuals. His era of responsibility is becoming an era of irresponsibility. His health plan is no different.