Open letter to President Obama (Part 472) (Taxing the rich will not balance the budget includes editorial cartoon)

Open letter to President Obama (Part 472)

(Emailed to White House on 4-9-13.)

President Obama c/o The White House 1600 Pennsylvania Avenue NW Washington, DC 20500

Dear Mr. President,

I know that you receive 20,000 letters a day and that you actually read 10 of them every day. I really do respect you for trying to get a pulse on what is going on out here. Why do you think that taxing the rich will balance the budget Mr. President?

___________

Will Taxing the Rich Fix the Deficit?

Published on Jul 2, 2012

The government’s budget deficit in 2009 was $1.5 trillion. Many have suggested raising taxes on the rich to cover the difference between what the government collected in revenue and what it spent. Is that a realistic solution? Economics professor Antony Davies uses data to demonstrate why taxing the rich will not be sufficient to make the budget deficit disappear. He says, “The budget deficit is so large that there simply aren’t enough rich people to tax to raise enough to balance the budget.” Instead, it’s time to work on legitimate solutions, like cutting spending.

__________________

Obama’s position on tax policy made simple below:

I’ve already posted on Obama’s class-warfare approach to tax policy, and I’ve also posted about the pitfalls of a tax system that exempts 50 percent of the population.

Well, here’s a cartoon that cleverly combines both themes.

Cool.

 

_____________

Thank you so much for your time. I know how valuable it is. I also appreciate the fine family that you have and your commitment as a father and a husband.

Sincerely,

Everette Hatcher III, 13900 Cottontail Lane, Alexander, AR 72002, ph 501-920-5733, lowcostsqueegees@yahoo.com

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