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At the current rate of decline in Barack Obama’s definition of “the rich,” by June 2009, anyone earning more than $20,136 a year will get a tax increase.
Since July 2008, Obama’s definition of rich has been declining at rate of 20 percent per month. Simple extrapolation shows that even minimum wage earners will face a tax increase by the time any legislation can be enacted in June 2009.
In other words, Obama’s real definition of “rich” is: “you have a job.”
For those of you with short memories, in 1992, Bill Clinton promised to raise taxes on the rich and cut taxes for the middle class. But shortly after taking office, Clinton, claiming to have worked harder on that tax cut than anything in his life, decided everyone’s taxes must go up. In fact, my little company made some good money selling sweatshirts that read, “I Got Wet When Clinton Soaked the Rich.”