Twenty Percent, Sí. Twenty-Five Percent, No.

The Current Crisis

Twenty Percent, Sí. Twenty-Five Percent, No.

By R. Emmett Tyrrell, Jr.

No, Mr. President, not everything Americans earn belongs to you.

WASHINGTON -- It is clear from the way President Barack Obama has been talking about the federal budget recently, and about taxation since he came to office, that all the money that Americans earn belongs to the federal government. The key words in this conversation are "tax expenditures." President Obama has lost a lot in tax expenditures and he wants more of those tax expenditures back. He can spend that money, he believes, more wisely than the citizenry -- that is to say, you and me.

He has wiggled and wobbled on the nation's finances over the years. First he spent money that he did not have. Then he threatened to raise taxes on the rich to pay for it. Then he spent again money that he did not have. Now he is getting very serious about the budget, by which he means the budget deficit which is so large you do not even want to think about it. So he is back to taxing the rich again, which eventually means you and me.

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