federal income tax
Governor Mitt Romney has finally capitulated to the nation’s wealth-haters, releasing his tax records months before primary candidates typically do to quell swelling resentment fueled by Occupy Wall Streeters, left-leaning media, and boobs like Newt Gingrich, Rick Perry, and John Huntsman. (Thanks, GOP candidates!)
Of course Romney’s forthrightness isn’t good enough for the left, who now argue that he must release a dozen or perhaps 20 years of tax records, so we can spend the next ten months scrutinizing them for rounding errors and keep the focus off President Obama’s record.
Obama-friendly journalists are suggesting Romney also release information on his complete financial portfolio, his retirement accounts, his trust funds for his wife and children, and sworn affidavits from eyewitnesses that he never cheated at Monopoly. (When is the media going to demand that Obama release his college transcripts?)
Romney’s tax records showed apoplectic liberals and gullible mainstream media that he paid 14% federal income tax on the $42 million he earned in 2010 and 2011. read more »
In honor of Tax Day 2011 and Democrats’ impeccably timed renewed push to raise taxes on high income earners, behold the following lessons we’ve learned about economics from liberals in recent times:
• The most innovative and wealth-generating company in the history of the world, Apple Inc., destroys jobs. So sayeth Representative Jesse Jackson, Jr., an iPad owner, who blamed Steve Jobs for taking away jobs from textbook manufacturers and paper mills. In other news, a Democratic Representative from West Virginia excoriated the “automobile” for killing off the horse-and-buggy industry.
• Cutting $352 million from a proposed $3.7 trillion budget is “the functional equivalent of bombing innocent civilians.” This according to D.C. Delegate Eleanor Holmes Norton, who was fuming over the possibility of a government shutdown two weeks ago. Given liberals’ complaints about the size of the military industrial complex and the expense of war, this is quite a bargain. How can we harness this technology of “Miniscule Republican Budget Cuts” to defeat Moammar Kaddafi’s forces in Libya?
• Constraining teachers’ unions’ ability to award themselves extravagant pensions and health care packages no one in the private sector has, thereby continuing to bankrupt states by keeping entitlement spending astronomically high, is good for union members. In contrast, making slight cuts to bloated benefits programs in order to prevent massive layoffs hurts the little guy. This bit of wisdom comes courtesy of the delusional, demonic mobs who swarmed outside the Wisconsin State Capitol trying to undermine Governor Scott Walker’s implementation of his nefarious campaign promise to balance the state budget. read more »