Obama Proposes More Taxes

President Obama today announced his latest effort to slap more taxes on ordinary Americans.

"In the plan, Obama advocates new taxes for Medicare, the government health program for the elderly. He proposed a 2.9 percent assessment on income from interest, dividends, annuities, royalties and rents for individuals earning more than $200,000 or families making more than $250,000."

Yep, that's just what we need. More income transfers from producers to non-producers, from taxpayers to non-taxpayers.

Fortunately the President is administering the tax laws in a way that is fair for all Americans. Right? Uhhhhh, no.

"The president endorsed yet another change in the so-called Cadillac tax on high-end employer-provided plans, which has been one of the most contentious parts of the legislation. While some economists say the levy would discourage wasteful spending, labor unions say it would hurt too many workers, and they successfully negotiated to scale it back in January."

It's politics as usual in Washington, as special interests of all stripes scramble to get a bigger piece of the pie.

At some point Americans are going to wake up and insist that there government administer its laws in a fair and transparent way.

This will eventually involve no bail-outs for well-connected banks and no income transfers to those who choose not to work for their own benefit. Don't hold your breath waiting for it.