On Obama's proposal to raise taxes on the upper 5% of wage earners and to give tax breaks to the bottom 95%, he characterized it as a means to punish the rich as a means to make people more equal, which is a mantra of every devoted socialist. Here is crux of his poignant remarks:
The way to make things fair is not to punish the rich by making them poorer. The way to make things fair is to make the poor richer.
This means to create opportunities for them to earn more, through hard work. This means allowing rich people to have the opportunity to create jobs for those poor people.
When a business owner or a corporation is taxed at a higher rate, the consumer will pay the tax. Why? Because the extra tax is part of the cost of doing business and is subsequently passed on in the price of the good or the service. As price rises, demand lessens. As demand lessens, sales decrease. When sales decrease enough, layoffs occur.
So when Obama says he doesn't want to raise 95% of the people's taxes, he is lying. When he says this tax increase on the wealthiest of people will level the playing field for all, he is dead wrong.