Stunned by State of Union address
I have watched President Obama’s State of the Union 2012 three times. It’s stunning. I won’t bother you with the voluminous notes I took, but I can’t not speak out about at least a few issues.
The president called for a “basic minimum tax.” Apparently he doesn’t know that we already have one, enacted in 1969 to ensure that those at the top pay their fair share.
He tells us that, “Through the power of our diplomacy, a world that was once divided about how to deal with Iran’s nuclear program now stands as one.” What?
He brags about progress in Afghanistan. The latest National Intelligence Estimate on Afghanistan: “The Taliban will grow stronger, using fledgling talks with the U.S. to gain credibility and stall until U.S. troops leave, while continuing to fight for more territory.”
He claims to have saved the American auto industry. Two problems there that need a little more clarification: First of all, the Made in the USA Foundation says, “’Made in America?’ Not quite.” The AALA requires new cars to provide information on the window sticker including where the car was assembled and where the transmissions and engines were made. They have charged GM with violating the American Automobile Labeling Act (AALA) stripping country of origin labels off of its cars. Joel D. Joseph, chairman of the Made in the USA Foundation, said, “General Motors wants to hide the fact that, even after the government bailout, it has moved production of vehicles offshore. The Cadillac SRX is now made in Mexico. The Buick Regal is made in Germany.”
Volkswagen disputes the presidents claim that “GM is once again the leading auto maker in the world.” Volkswagen sold 8 million units and says that although GM boasts 9 million, that figure includes 2.3 million units sold by Chinese automakers SAIC and Wiling. GM does have a financial interest in those companies, but it is not a controlling interest, so Volkswagen disputes the claim.
The most galling lie (I hate to call it that, but it is a barefaced lie) is the president’s insistence that millionaires pay a lower rate of taxes than middle income people. Tim Geithner’s own figures show that people with incomes between $50,000 to $100,000 pay 9 per cent, millionaires pay 24 percent, and the guys at the top pay 36 percent. Buffet’s secretary is obviously one of those one-percenters the Occupy Wall Street guys hate so much.
And yes, that includes Mitt Romney. What the president fails to admit is that those who live off investment income are taxed twice. The corporations they own are taxed first at 35 per cent, the highest corporate tax rate in the world. Then when the shares are paid, the coupon clipper pays another 15 per cent. Get it? That means they pay a total of 50 percent on the money they earn.
He did say he wanted America to be a country where hard work is rewarded, where personal responsibility is honored, where everyone does their fair share and plays by the same rules. If we Tea Party people thought he meant that, we’d all vote for him.
Cora Lee Schingnitz
Yuma
