It is very clear what the president’s campaign motto is but it’s not clear what it means. It leaves the individual to fill in the blanks. In other words, you can just use your imagination – that is where it departs from reality. It certainly does not mean that we pay the same percentage or amount to the federal government – it’s just a sneaky way of concealing what he really wants to do. Remember “Hope and Change”? Change to what? Hope for what? Now it’s Fair Share. Your guess is as good as anyone. Sounds great but means whatever your imagination can muster. I can tell you that your imagination has no bearing on what he will do.
Our tax code is one of the most complicated in the world. The rich or poor don’t have a choice what to pay – the tax code (which congress passed as law) dictates what you pay according to your income. It goes from 0% to 35% depending on how you got it and how much you got with a myriad exceptions, deductions and rules that the politicians have added over the years. (Those politicians are from both sides of the aisle.) The chance of that being changed this year is about as probable as finding a cure for the common cold.
Now he (the president) wants to extend the “payroll tax cut”. That is taking money out of Social Security but he doesn’t want you to know that so he refers to this in a way that deceives the public. Taking money out of Social Security makes seniors like me nervous. It ought to make everybody nervous.
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