Our Rush-Bo is back: "the stimulus and O's deficits are tax increases", YES!

Rush Limbaugh Online ^ | June 30, 2009 | Rush Limbaugh

[sickoflibs]

Change from Obama's community organizer economics. Roger Altman, "seriously consider a value-added tax..." "Household net worth has fallen more than 20% since its mid-2007 peak. This drop began just when household debt reached 130% of income," yada yada yada, on and on and on. "Mr. Altman, founder and chairman of Evercore Partners, was deputy secretary of the Treasury in the first Clinton administration." Here's the last line: "That's important, because it is no longer a matter of whether tax revenues must increase, but how." Rog, cap and trade is a tax increase. Health care is a tax increase. Everything Obama is doing is a tax increase! The stimulus is a tax increase. The deficits are a tax increase. (sigh) Letting the Bush tax cuts expire is a tax increase. They're coming back for more, as though we haven't raised taxes yet. "We're going to need to raise them soon... value-added tax," Roger Altman, whistle-blower, the Obama administration.

[sickoflibs]

I heard Rush say this Tuesday. Many times I have defended Peter Schiff for saying that "Tax cuts without spending cuts, (instead with spending increases,) is still redistribution" and got many angry pings here that 'spending is not taxing' some calling me a lib. I know where this illogical belief was coming from, I wont say here. But now the MASTER of talk radio, My hero from 1993-1994, is back after 8 bad years of GWB. To all those Bush bots claiming Bush never taxed us because we never had to pay for all his spending , "Rush is on our side so dont mess with me and Peter Schiff"

[sickoflibs]

The Peter Schiff/Redistribution Watch Ping. (Washington Bankrupting our Nation by Spending your past, present and future money!)

See comment #1. Thanks

[sickoflibs]

The Peter Schiff/Redistribution Watch Ping. (Washington Bankrupting our Nation by Spending your past, present and future money!)

See comment #1. Thanks

[GOP Poet]

bookmark

[GOPJ]

"Tax cuts without spending cuts, (instead with spending increases,) is still redistribution"

I agree. It's subtle - but correct.

[Atom Smasher]

Ping!

[ilgipper]

agree, except that tax cuts are not revenue cuts. Tax cuts increase economic growth which typically increases govt revenue and also likely increased all of our income (bigger pie). That said, yes, spending and deficits cost us in ways outside of the current tax code.

[sickoflibs]

RE :”Tax cuts increase economic growth which typically increases govt revenue and also likely increased all of our income (bigger pie). “

NO, Not all tax cuts do those things. Maybe some do BUT when you talk about printing money to cut taxes especially lower income taxes and increase spending at the same time, that is purely political and grows NOTHING long term. Many republicans as well as dems demand increased spending(or at least no cuts). But they got tax cuts too and were happy with both. This was redistribution from present to future.

[Pelham]

“Tax cuts increase economic growth which typically increases govt revenue”

Not exactly. Tax cuts promote economic growth but not sufficiently to result in increased revenue. Only capital gains cuts have “paid for themselves”. Marginal income tax rate reductions stimulate enough growth to recoup over 60 cents for each dollar cut, which is good, but it still leaves the Treasury with decreased revenue. The data can be found in Lawrence Lindsey’s “The Growth Experiment”.

[LALALAW]

Plenty of ways to tax us. I pay $18,500 last year for health insuring my family of 6, thanks to Medicare subsidy that the government run health care program exacts from their distrorted market-paying providers below market rates (for some services lest than cost)

[AppyPappy]

“Tax cuts without spending cuts”

Not really. Tax cuts do not necessarily cut revenues.