In testimony this week before the House Budget Committee, Obama’s new Budget Director, Peter Orszag, claimed that President Bush’s tax policies “transferred too much wealth to the rich.”Now, even if you’re a liberal,stopand think about that.
The Congressional Budget Office says that even after the Bush tax cuts, the top 1 percent of taxpayers pay 29 percent of all taxes. The top 5 percent pay half of alltaxes. So how in hell have these people gotten wealth transfers?
You see, my friends, this is the kind of idiocy being passed off as economic analysis from camp Obama. Orszag also said: “We have lived through an era of irresponsibility,” and, “looking forward, we must change course.”
Okay,how are we “changing course?” House Democrats are expected to vote today on a bill to give bankruptcy judges the authority to rewrite homeowner mortgages — not for those who actually pay on time, mind you,but for the 6 percent who don’t.
“Responsibility” now means the courts force lenders to rewrite legally binding contractsfor the irresponsible. But even that isn’t enough for Maxine Waters– Democrat, California– because before going to court, delinquent homeowners must try to work out a deal with the lender. Waters says it’s impossible for people to complete a call to their lender; she doesn’t think people “ought to have to go through that mess”before getting relief from the courts.
What can you say to that? Thisis the era of Democrat “responsibility”. In other quarters, it’s simply called: insanity — stupidity!
*Note: Links to content outside RushLimbaugh.com usually become inactive over time.