Who is naïve, you or Obama?

Yesterday Sir Taxalot (aka B Hussein Obama) announced a plan to "save" you and me, the American tax payer, over $200 billion over the course of the next 10 years, by raising taxes on certain companies who are participating in legally avoiding taxes. $200 billion over 10 years is $20 billion a year according to my public education math. Let's all be thankful our President, who in the past 100 days has spent trillions more dollars than his predecessors ever thought about, wants to save us $20 billion a year. Be still my beating heart.

By the way, $20 billion a year will almost, almost, cover the interest expense on his $750 billion porkulus, err stimulus plan. The annual interest bill for that, assuming 4% interest, is $30 billion. A year. Every year. For a long time.

$20 billion a year is the approximate amount of my state's, North Carolina's, annual budget. It is hard to believe that the interest expense on only a portion of this president's deficit spending is larger than my state's budget. I hope that helps you understand the size of some of these numbers, and how hard it is going to be to pay all this debt off.

Maybe you are OK with this. Possibly you like seeing large companies having their tax loopholes closed. Its very popular in Washington and with the press to attack big companies and tax loopholes. By the way, do you deduct home mortgage interest on YOUR tax return? Do you deduct for charitable donations, for medical expenses, for education expenses? If you do, then you are engaging in the same kind of "loophole" participation these big companies are. Does that change the way you look at this?

What Sir Taxalot either does not know, or thinks you do not know, is that those companies he is raising taxes on are not going to just sit there an say OK, we're glad to pay more taxes. No, they will either cut jobs, or raise the price of their products, or both, in order to help fund as much of those tax increases as they can, without hurting their bottom line. Either he is naive, or he is playing you for a sucker, thinking he can continue to divide us in to groups who hate, or at least don't much like, each other. He is not "saving" you anything, he is costing you something.

This is a very calculating, but misguided, man. He knows exactly what he is doing. He is increasing the size of government by raising taxes. That is his #1 objective, make no doubt about that. He is attempting to punish companies who move jobs oversees. He is doing that to potentionally help his best friends, the unions. If that is not his #2 objective, its close. Finally, he is continuing to attempt to exploit what he sees as a naive US population, by hoping you do not realize tax increases on companies eventually cost you, the customer, in the form of higher prices. Don't be a sucker. And don't forget.