Obama Budget: Tax Plans Aim At Rich

Raise taxes on those making more than $250,000. Limit deductions for the wealthy. Make an expanded college tax credit permanent.

Sound familiar?

When it comes to taxes, President Obama's 2013 budget proposal on Monday is expected to include a host of repeat performances. In fact, many of the proposals he'll make have appeared in every budget Obama has put out since taking office. One addition this year: a so-called Buffett Rule to ensure that those making more than $1 million pay their "fair share," which President Obama has defined as paying at least 30% of their income in taxes.

Reminds me of a joke:

A young woman was about to finish her first year of college. Like so many others her age, she considered herself to be a very liberal Democrat, and among other liberal ideals, was very much in favor of higher taxes to support more government programs, in other words; redistribution of wealth.

She was deeply ashamed that her father was a rather staunch conservative Republican, a feeling she openly expressed. Based on the lectures that she had participated in, and the occasional chat with a professor, she felt that her father had for years harbored an evil, selfish desire to keep what he thought should be his.

One day she was challenging her father on his opposition to higher taxes on the rich and the need for more government programs.

The self-professed objectivity proclaimed by her professors had to be the truth and she indicated so to her father. He responded by asking how she was doing in school.

Taken aback, she answered rather haughtily that she had a 4.0 GPA, and let him know that it was tough to maintain, insisting that she was taking a very difficult course load and was constantly studying, which left her no time to go out and party like other people She knew.

Her father listened and then asked, 'How is your friend Audrey doing?' She replied, ' Audrey is barely getting by. All she takes are easy classes, she never studies, and she barely has a 2.0 GPA. She Is so popular on campus; college for her is a blast.
Her wise father asked his daughter, 'Why don't you go to the Dean's office and ask him to deduct 1.0 off your GPA and give it to your friend who only has a 2.0. That way you will both have a 3.0 GPA, and certainly that would be a fair and equal distribution of GPA.'

The daughter, visibly shocked by her father's suggestion, angrily fired back, 'That's a crazy idea, how would that be fair! I've worked really hard for my grades. Audrey has played while I worked my tail off!'

The father slowly smiled, winked and said gently, 'Welcome to the Republican party.'

If anyone has a better explanation of the difference between Republican and Democrat I'm all ears.
 
The libs have this fetish about college. That tax credit will do nothing to reduce the cost of a college education, in fact, it will make it worse. From what I have seen in several states over the last 30 years, only about 25% of the boys and 40% of the girls graduating from high school are ready to go on to college.

Spending $100K plus on a BA degree in English Lit, Sociology, MInority studies, or education is a waste of time. Even the higher paying professions like Engineering, Sciences (Physics, Chem, Bio), or accounting are close to the break-even points now. Colleges have increased the number of administrators to the ridiculous point of having more of them than instructors. The kids coming out these days are for the most part very poorly educated. Those in the technical discplines are very well educated, but only within the narrow focus of their discipline. Their knowledge of history is a huge black mark of shame on our education system.
 
Old Bearkat":e00fd6mk said:
The libs have this fetish about college. That tax credit will do nothing to reduce the cost of a college education, in fact, it will make it worse. From what I have seen in several states over the last 30 years, only about 25% of the boys and 40% of the girls graduating from high school are ready to go on to college.

Basically, government aid to colleges (in tax "credits", student loans, etc.) is just a way to launder money to favored liberal college profs and administrators ...

The wise folks in colleges have just jacked up the price and told the students and their parents how lucky they are to get some aid ... I read about a college where my niece is going (in another state) that brags about how 92% of their students get financial aid.

Just a few minutes ago, my phone rang (didn't answer it) ... it was a fund raising call from students at my old alma mater, a state university in Wisconsin. I don't remember getting a dime in financial aid from that school during my tenure, so I'm not terribly interested in giving them a hand ... and I do support other charities.

And folks with 100K in student loans with "worthless" degrees ... or worse yet, no degree ... whadda thinking, bud? Just because you got your early childhood ed degree from Haaaavaaard doesn't mean you're gonna get much more than the cutie that got hers from Last Chance State U.

Cripes, I remember graduating in 1978 with $6K in student loans (well, maybe I got some aid ... back then, you didn't have to start paying until after you graduated and there was no interest while you were in school). But I thought that stinkin' $69.72 monthly payment to my hometown bank for ten years was like a big ol' rock hanging over my head.
 
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