Free Markets, Free People
Oh, my … the White House is on the offensive trying to save the middle class, or something:
The White House has launched a new offensive in its fight with congressional Republicans over taxes, arguing 114 million middle-class families will see their taxes rise without action by Congress.
A report from President Obama’s National Economic Council released Monday contends the families would see their taxes rise by an average of $1,600 if the George W. Bush-era tax cuts expire as scheduled at the end of the year.
A) they’re not tax cuts, they’ve been the tax rate for years.
B) Republicans have already made an offer. They said they are willing to extend the rates for all so it is obviously not a tax increase the middle class must suffer.
Of course, that’s where the rub is, because the Democratic Senate and the White House want to raise taxes on a certain level of income earner. They’ve staked their class warfare gig on it.
Because, you see, they’re trying to convince everyone that’s only “fair” and to further imply it will solve the insolvency problem. Well they’re wrong, as usual, on both counts.
Here, take a look at this. Even those who don’t count economics as their strong suit should be able to figure out what this means:
That’s right, the problem isn’t revenue. The problem has nothing to do with high income earners and their “fair share”. It has to do with out of control spending which has accelerated dramatically under this president. And, oh by the way, the increase in taxes on the wealthy would be a mere drop in the bucket of red ink Obama has charted out for the next 10 years.
So while he whines about a $1,600 tax per family if no action is taken, ask him what he’s adding in debt per family with a 10 year plan to spend $46.9 trillion dollars we don’t have, okay?
Food inflation continues apace.
Question: Is there a correlation between high oil prices and higher food prices?
You bet there is:
High crude oil prices have fuelled the upward pressure on inflation since the start of this year. Consumer prices in the 17 nations sharing the euro were up 2.6 percent in March from a year ago, despite stumbling economy.
"The food price index has an extremely high correlation to oil prices and with oil prices up it’s going to be difficult for food prices not to follow suit," said Nick Higgins, commodity analyst at Rabobank International.
Energy prices affect the production of fertilizers as well as costs related to food distribution and farm machinery use.
That’s reality (What!? No solar powered tractors?). And, as the Obama administration continues its war on cheap fossil fuels even while demand for them rises globally, you can expect costs for food to continue to rise as well.
Finally, given all that is true, who gets hurt worst by rising food and fuel prices?
That’s right – the poor and middle class. The supposed people Obama claims to be looking out for.
So, as prices go up and you’re able to afford less and less food (and gasoline) for your family, you know who to thank.