Hillary: The Rich Don't Pay Enough

Speaking at the Brookings Institution in Washington yesterday, Secretary of State Hillary Clinton declared rich people aren't paying enough taxes. "This is my opinion. I'm not speaking for the administration so I will preface that with very clear caveat. The rich are not paying their fair share in any nation that is facing the kind of employment issues, whether it's individual, corporate, whatever the taxation forms are. And I go back to the question about Brazil. Brazil has the highest tax-to-GDP rate in the Western Hemisphere, and guess what? It's growing like crazy. And the rich are getting richer but they're pulling people out of poverty. There is a certain formula there that used to work for us until we abandoned it -- to our regret, in my opinion."

I believe she is setting up for a presidential bid in 2012. We have seen her over and over again indirectly slam the Obama administration. She did it again yesterday, "This is my opinion. I'm not speaking for the administration so I will preface that with a very clear caveat." Watch out for Clinton in 2012 running on a fiscally responsible platform. She will shadow Bill Clinton's strategy. Appearing towards the center, especially on fiscal responsibility, she will attract many voters.

Back to her taxation statement, a CBO study shows the top 1% of all taxpayers pay 40% of all federal income taxes and the top 20% pay 86% of all income taxes. That sounds like the rich are paying quite a bit of their "fair share."

If we taxed the rich as much as Hillary wants, there would monstrous unemployment! Who does she think provides us with all the jobs? The rich, of course! They are the people that own the businesses and when they receive tax cuts, they hire more employees.