April 14, 2012
You may recall that last year it was estimated that Obama's 2012 presidential campaign might come close to $1 billion in expenditures. Since then, that projection has drifted downward due to some difficulty the president's political machine has had in fundraising. Nevertheless, Obama's 2012 presidential reelection bid has already spent over $157 million according to the filings maintained by the Federal Election Commission which were made through the end of February, 2012. That's more than twice as much as the second-highest figure spent by Mitt Romney. It's also more than 75% of the total expenditures spent by the nine Republican candidates.
It might be safe to say then, that Obama will spend north of $500 million before November. Some others might say, however, that the real cost of a successful Obama 2012 reelection bid will not be realized unless he begins his second term. Then the cost of this president will become staggering. And unfortunately, that cost will not involve voluntary campaign contributions. It will be a cost borne on the backs of productive Americans in the form of skyrocketing federal income taxes. This becomes even more punitive when you stop to consider that federal income taxes today are shouldered by only 52% of Americans. The remaining 48% pay no federal income tax and many receive federal credits. So it begs the question; how much more money will be forcibly extracted from our paychecks and bank accounts annually if Obama wins reelection?
The answer has been provided by Dick Morris, a pollster, political consultant and former adviser to Pres. Bill Clinton. Dick is a smart guy. He helped Clinton recover from the 1994 midterm elections by convincing the White House to adopt some Republican policies. He later resigned from his position as Bill Clinton's campaign manager during the 1996 election and subsequently became an advocate for the conservative side of the aisle. As I said, he's a smart guy.
Smart enough to step back and objectively look at the real direction of each political party. Smart enough to run the numbers of what Obama's potential reelection will cost taxpayers. The details are contained in this video.
Dick Morris - Obama' Second Term Tax Plans
Tomorrow, your federal income taxes are due. So perhaps this is an appropriate time to really stop and consider just what April 15 will feel like in the future if Obama wins reelection.
Then share Dick's analysis with your friends and family. Because if our current "Community-organizer-in-chief" gets reelected, the financial drain on your wallet will be painful. And that pain will be futile, because the math doesn't compute. It's a pyramid scheme. The federal government simply cannot collect enough money from a shrinking tax base to even begin to pay for our new culture of ever-expanding financial entitlement and government services.
In my humble opinion, if Obama wins reelection, then American economic incentive and productivity may take decades to recover, if ever. Our standard of living will continue to diminish. That's a poor legacy for our children, wouldn't you agree?
4/14/2012 from Don
Your articles scare the hell out of me! So I pass them on to all of my family and friends and scare the hell out of them too! Thanks for keeping us all informed.