First … this was not a serious policy speech. It was a campaign speech. It was exactly what you would expect from someone with no real world private sector experience and a penchant for flowery campaign rhetoric … little of which has any basis in reality.

But here’s a real shocker .. are you ready? .. Barack Obama’s speech yesterday called for tax increases! Not just any tax increases but tax increases on evil, rancid, cheatin’, lying’ exploitin’ thievin’ rich people with all that money out there. You know, the owners of America’s small business who are responsible for most of our private sector jobs and those households with two achievers who’s income adds up to more than $250,000 a year; in other words … America’s millionaires and billionaires.

The Community Organizer’s plan is supposed to cut $4 trillion from our deficit over the next 12 years .. that’s great. But wasn’t this same man telling us that he had a plan to cut our deficit in half by the end of his first term? What happened to THAT promise? Oh, that’s right .. I remember. George Bush must have done something to block Obama’s plans. Old “W” sneaked into the White House and somehow raised the deficit by well over a trillion dollars. Don’t you just hate it when that happens?

The last deficit figure under George W. Bush was $410 billion in 2008. The projected 2011 deficit will be $1.645 trillion under Obama. What credibility does this guy have? And why is any serious consideration given to his next grand scheme for deficit reduction?

But how does Obama plan to cut this money from our deficit. How else? He raises taxes on the rich! We will get to some of his specific calls for tax increases in a minute, but I want you to keep in mind one proven fact --- people with money are intelligent enough and perfectly willing to change their behavior when they are punished for their achievements with higher tax rates. I challenge any of you to research the effect of any major tax increase and find one – just ONE – that generated the revenue the politician calling for the tax increase said it would generate. The fact is that the government often raises more money as a result of a tax cut than it does from tax increases. Why don’t you check out some of the northeastern states who tried to implement surtaxes on millionaires and seehow that worked for them. The rhetoric plays well with the dumb masses … but that’s about it.

But anyway … on to some of my favorite quotes from PrezBo’s speech yesterday …