The Manipulative “Tax the Rich” Mantra

The “tax the rich” mantra is picking up steam, but it is really political number manipulation to mislead us into believing this is a solution to our scary deficit problems. Our President and, more recently, the governor of Minnesota have been chanting this mantra. If implemented, the facts indicate at best the impact on the deficits will be minimal. While many of us would be happy if our progressive tax policies required higher taxes for a few of the very wealthy, the arguments being made are aimed at scaring, seducing, and misleading the public and border on being lies. This mantra is good politics but bad for the long-term future of our nation.

The “Interest” Debt Reduction Scam

Counting interest savings on future debt accumulation, as a debt reduction, is at least deceiving. President Obama included $4.3T in future interest as part of his debt savings plan. This is 15% of Obama’s savings and 10% of total his total plan. Republicans have included similar statements in their plan. Let’s use a personal loan as an example of why this is a scam.

The Debt Reduction Con-Job

The Obama debt reduction plan is a re-election con-job, not a real long-term solution. The President implies taxing the rich making more than $200,000, a (Buffet) tax on millionaires, and eliminating corporate tax “now” and cuts in spending “later” will solve our problems and reduce our debt by $4.4T. Facts show the weaknesses of his arguments.

The two “now” “rich taxes” average less than $100B per year. Closing corporate loopholes might produce $50B per year. Combined these tax increases per year only reduce about 10% of our annual $1.5T deficit— not enough to significantly reduce the deficit or lower the debt.

Now You See It…Now You Don’t! Watching Out For Politician’s Tricks in 2012

The political season has begun and politicians have started their campaign of tactical tricks to seduce, scare, and mislead or confuse us into providing support and votes for them. The tricks they use result in us making choices with little factual information and determining those facts takes time that most of us do not have in our busy world. We hold politicians in low esteem because in our “gut” we know we are being conned by them. Understanding a few of the many tricks career politicians play can help us listen more carefully and make informed decisions.

Putting the ‘Con’ in Congress – How Some Political Leaders are Running the Greatest Ponzi Scheme Ever

As our country slides into financial hell trapped in a debt-laden hand basket, politicians continue to hide deficit, debt, jobs, and many other problems from us by using scare, misleading and seduction tactics to avoid telling us the whole truth. Certainly they have reasons to con us since it’s these same politicians who have caused our problems in the first place. Politicians can only achieve their top priorities of being reelected and gaining party power by continuing to use sleight of hand tricks that make Bernie Madoff and Charles Ponzi seem like saints. Lets look at our “politicians’ con tricks of the trade,” and how they are being used on our precarious financial problems. There are several commonly used “political con tricks.” Some are obvious, some are subtler, and many use numbers and “facts” that are misleading.

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September 2011
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