I have to admit that I never listen to President Obama’s speeches, including the State of the Union address. Not just because I know that the substance of the speech will be wrong, but I find him to be an off-putting speaker. The jutting Mussolini-like chin and head turning seem mechanical. He never looks you in the eye and levels with you. I find that his style distances himself from the American people rather than connecting with them. Unlike many people who believe him to be a master orator, I find the cadence of his speech to be off meter, especially the way his sentences drop off at the end. To my ear that sounds wrong, but rhetoric, like beauty, is in the ear of the listener. Let’s put it this way, iTunes is not selling a lot of downloads of his speeches.
Nonetheless, the President’s speeches are never really surprises, nor are they original. There is really no need to ever reprogram his teleprompter. Class warfare, more taxes, more government and more regulations. Haven’t we been hearing this for decades? How is that working out for our once prosperous country?
The President’s new mantra is fairness, a word which does not appear in the Declaration of Independence or Constitution. I suspect that the Founding Fathers may have known a few things about life and the real world that President Obama does not, but somehow fairness has been elevated to the level of an Eleventh Commandment. Thou shalt be fair.
Let’s talk about fairness and taxes.
If you are rich (as President Obama constantly redefines it) you do not pay your fair share of taxes. What is his benchmark? Well, if he wants the government to take more of your money then you are unfair! Aren’t you glad I cleared that up for you? How can you even look at yourself in the mirror in the morning?
Consider this. Like many people, you work hard, save some money and buy a stock. You now own part of a business. Good. That is the American way and I love it and fully support it. Working, saving, investing, business ownership and private property have created a wonderful nation, but I bet you didn’t know you were being unfair in the process. I guess the joke is on you!
Let’s say the stock you own earns one dollar of profits on your behalf. Being the unfair person you are you want your dollar. Not so fast you greedy capitalist! First, the company has to pay the federal corporate income tax, up to 38%. Magically, your dollar is now only $0.62. You are still looking greedy wanting your $0.62, but at least you are being fair, comforted by the fact that some of your taxes went to bailout banks, unions, car companies, Solyndra and Greece. But wait, it gets better and there is more fairness to come.
Ok, you now have $0.62, but don’t spend it quite yet. You now get to pay the federal government 15% because you got a dividend! Let’s call it $0.09. Amazing! That original $1 is now a net $0.53 to you! You greedy capitalist pig! You are so unfair!
But wait, there is even more fairness coming your way! Do you live in a state with an income tax? Let’s say a state takes another 5% from the $0.62, let’s call it $0.03. Now you only have $0.50 out of the original $1 in profits and President Obama has the gall to think you are the one being unfair.
I have news for the President. The November election is going to be very unfair to him.
Lastly, kudos to Seal Team Six. We have the greatest military the world has ever known. Hopefully, the next President will appreciate them and be worthy of being Commander in Chief.
Update: The maximum corporate tax rate is 35% not 38% as stated above. You would keep a few more cents that the federal government did not grab. Don’t spend it all in one place.