‘Pay Their Fair Share’

Posted on | September 20, 2011 | 18 Comments

How many times did President Obama say that phrase during yesterday during his Rose Garden speech?

. . . for us to solve this problem, everybody, including the wealthiest Americans and biggest corporations, have to pay their fair share.
If we’re going to make spending cuts — many of which we wouldn’t make if we weren’t facing such large budget deficits — then it’s only right that we ask everyone to pay their fair share.
. . . a larger plan that’s balanced –- a plan that asks the most fortunate among us to pay their fair share, just like everybody else.
Either we ask the wealthiest Americans to pay their fair share in taxes, or we’re going to have to ask seniors to pay more for Medicare.
And I will veto any bill that changes benefits for those who rely on Medicare but does not raise serious revenues by asking the wealthiest Americans or biggest corporations to pay their fair share.

If all you knew what what Obama said, you might believe that the “the wealthiest Americans” aren’t currently paying their fair share. Heritage Foundation researcher Emily Goff explains what’s wrong with that argument:

Taxing those who Obama calls the wealthiest of Americans won’t solve our deficit problem – and it certainly won’t solve our spending problem. The top 10 percent of earners in America already pay about 70 percent of federal income taxes. And adopting the flawed deficit reduction proposal of taxing the wealthiest Americans would require mathematically unfeasible tax rates.

“Fairness” is not a valid economic argument. It’s a political argument. And the Laffer Curve suggests that Obama’s politically motivated plan to make the rich “pay their fair share” would actually result in less tax revenue, not more. The rich will engage in tax-avoidance strategies, or the drag on investment will slow the economy, or quite possibly both.

As Heritage senior fellow Patrick Louis Knudsen says, Obama’s plan “merely perpetuates a misunderstanding of the fundamental problem: deficits and debt are symptoms; the underlying illness is excessive and uncontrolled spending.”

Category: Barack Obama, Budget, Taxes

Comments

18 Responses to “‘Pay Their Fair Share’”

Paul Sand
September 20th, 2011 @ 12:27 pm

The other thing that gets my goat in the quoted examples: in four out of five, Obama says that he only wants to “ask” taxpayers for more. That’s an intelligence-insulting euphemism that demonstrates the speaker’s underlying contempt for his audience.
ThePaganTemple
September 20th, 2011 @ 12:48 pm

The idiot actually wants to raise capital gains taxes from fifteen percent to twenty-eight percent? There goes that blog post. I was planning on doing one on how the Republicans should offer to do just that on the grounds it might, just might, shut Warren Buffet’s ass up. Yeah, its easy for him to complain when most of his income is derived from capital gains, I reasoned, so let’s just raise them so he’ll finally get to pay the same amount as his poor old secretary (who probably by the way makes a six figure a year salary-at least).

Now come to find out that’s actually the plan all along? I have to wonder if Buffet isn’t purposely trying to sabotage Obama. Because, frankly, this is the stupidest crap I’ve heard in some time. If this were to pass, I wonder how long it would take the Dow to sink below nine thousand.

What a bunch of assholes.
Datechguy
September 20th, 2011 @ 1:11 pm

Hey since MSNBC used my Breitbart video on the Ed Show yesterday should they “pay me my fair share?”
JeffS
September 20th, 2011 @ 1:23 pm

President Zero will gain nothing out of this sophomoric approach to addressing the economy.

If nothing else, he has lost the Associated Press.
Obama Flashback Videos: 2009: ‘You don’t raise taxes in a recession’ 2011: ‘ Nobody’s looking to raise taxes right now.’
September 20th, 2011 @ 10:21 am

[…] ‘Pay Their Fair Share’ […]
DaveO
September 20th, 2011 @ 2:34 pm

1. Will the 47% who pay no federal and state income taxes now begin paying federal and state income taxes?

2. Will those corporations and fatcats now not pass on the cost of the tax hikes to consumers?

If both of these are yes, I’m in!

Otherwise it’s ‘same ole, same ole’ from Teh SCOAMF

If you want to nail fatcats, tax their consumption. That technique focuses on the individual, and doesn’t spread the misery to the poor.
DaveO
September 20th, 2011 @ 2:35 pm

Well, don’t hire Righthaven to secure any profits you are entitled to for the video.
Chris Smith
September 20th, 2011 @ 2:38 pm

Can ‘fair’ be federally determined? Let’s get DC out of our wallets, instead!
A Phrase I Have Come to Despise: "Pay Their Fair Share" | marfdrat
September 20th, 2011 @ 10:49 am

[…] phrase in just one speech – yesterday’s tantrum about his “jobs” bill (H/T The Other McCain): . . . for us to solve this problem, everybody, including the wealthiest Americans and biggest […]
Joe
September 20th, 2011 @ 3:57 pm

There should be a guaranteed minimum tax (say 5%) for all income earners. Everyone should pay something. Do that and we can talk about the rick paying more (and BTW the “rich” pay much more in % and more by far than those who are not rich in actual dollars than half the country, who pay nothing).
Christy Waters
September 20th, 2011 @ 4:47 pm

I fully expect President SCOAMF to appoint a Fairness Czar, whose jurisdiction will encompass everything from tax rates to little league baseball.
Anonymous
September 20th, 2011 @ 5:53 pm

It won’t work unless the SCOAMFOTUS says the magic word:

“Now!”

As in “Pay their fair share now!”

Oh SCOAMFOTUS please don’t load us
up with taxes so
We don’t like you, you can quote us
in 2012, you go
Adjoran
September 20th, 2011 @ 6:35 pm

Are the American people so stupid that when Obama says things like “spending cuts — many of which we wouldn’t make if we weren’t facing such large budget deficits” they do not realize that spending has shot up 30% under Obama, and that the deficits would not be nearly so large if not for his profligate spending itself? That if Obama hadn’t been so generous to his union thug buddies and other parasitic constituencies, the crisis would not be nearly so deep?

Obama couldn’t get a filibuster-proof Democratic Senate and Democratic House to pass such tax plans – they even extended Bush’s tax cuts. He never intended to “pass this bill,” it is only a salvo in his reelection campaign. He needs to fire up his class warriors, because he hasn’t a prayer without them.
Anonymous
September 20th, 2011 @ 8:36 pm

Those hysterically shrieking about fairness, reminds me of a scene in Costner’s Wyatt Earp movie. (yeah that one). After both of Wyatt’s bothers had been shot, there’s a scene where Wyatt and his “wife’ Mattie are in their room. Mattie says, “ya know you’re the only Earp brother who hasn’t been shot in this town, that’s not fair”. She then takes a shot at him.
Obama wants to spread the wealth but will settle for spreading the misery.
Brooks
September 21st, 2011 @ 3:36 am

Coming from a ‘man’ whose wife’s job at the U of Chicago’s hospital was to chase the poor patients to poorer hospitals, this is a bit rich, don’t you think.
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September 21st, 2011 @ 8:36 am

[…] “Pass this bill right away!” — and then in Monday’s budget speech — “pay their fair share!”As silly as this Fightin’ Liberal act seems to conservatives, who see it for the hokey […]
Unified Stand
September 24th, 2011 @ 3:15 pm

Government has been lead by big industry long enough. The rich need to pay their fair share. No loopholes. What can I do? What can we the people do to make a difference? These are not rhetorical questions. Electing someone else who falls short on promises seems to be the standard. The world is about to explode in revolt and it’s about time.
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October 3rd, 2011 @ 7:14 am

[…] speeches demonizing “millionaires and billionaires” who, he alleges, don’t “pay their fair share” of taxes — as part of a “re-election strategy.” What honest person can say […]