Taxpayers' woes are self-inflicted ( Chris Dodd Bear Market )

American-Republican ^ | November 20, 2008

[george76]

The state budget outlook gets grimmer by the week.

Projected deficits for the next two years have grown by $200 million since last week, and now the governor's budget office says the combined shortfall for the next three years will be $9.6 billion, another figure that will rise sharply once the full fiscal effect of the Chris Dodd Bear Market is known.

These deficits are unprecedented in state history. They dwarf the $1.4 billion Rainy Day Fund. They are the consequence of years of unbridled government spending and fiscal malfeasance of the highest magnitude.

And they will never be closed by trimming around the edges or plugging in one-time revenues. They will require a fundamental reordering of state priorities and wholesale spending reductions like this state has never seen.

Clearly something — more accurately, someone: the taxpayer — will have to give. Until it hurts. And then give some more.

To the government they elected. The government they deserve.

[Sicon]

It amazes me that we've reached the point where you hear almost no one saying that government spending and waste is the problem. No, all the discussion seems to be about where and how to get more taxes out of the people...

The argument is truly lost, because we're no longer even able to talk about the real problem.

[tgusa]

The hole in this argument is that the TAXPAYERS didn’t elect this government, since the majority of voters don’t pay any taxes - the majority of voters are net consumers of gummint largesse. The taxpaying MINORITY will foot the bill. We are SO SCREWED.

[GVnana]

Too bad the “THEY” is all of us!

[Lilpug15]

I personally love govt. workers like Dodd who only got to where they are because of Daddy - telling people to suck it up and pay taxes and that people like him who have never been in the business world or had a “REAL” job know how to handle things... Riiiiiiight!

[griswold3]

“The taxpaying MINORITY will foot the bill. We are SO SCREWED.”

Not if you are prepared! Forewarned is forearmed. Find a good tax attorney!
“Anyone may arrange his affairs so that his taxes shall be as low as possible; he is not
bound to choose that pattern which best pays the treasury. There is not even a patriotic
duty to increase one’s taxes. Over and over again the Courts have said that there is
nothing sinister in
so arranging affairs as to keep taxes as low as possible. Everyone does it,
rich and poor alike and all do right, for nobody owes any public duty to pay
more than the law demands.”

(US Appeals Court Justice the Honourable Learned Hand)
Tax policy affects behavior! See Hauser’s Law- Raise taxes, lower revenue (GDP).
We need to lead the discussion about legitimate government functions that we would support. Charity is not a function of the government. I will direct my 15% independently, thank you.

For all those Keynesian plans for spending on ‘infrastructure’:
“The avoidance of taxes is the only intellectual pursuit that carries any reward.”
(John Maynard Keynes)

[Lilpug15]

And let’s not forget about his deal w/ CountryWide and the subprimes that helped cause the mess...

[American in Israel]

The house of Cards, er Congress is collapsing on its own. Their only choice left is to print money till it is equal to toilet paper, except a lot rougher.

The boat they are sinking is their own, but they are too enamored with all the bribes they are taking in to realize that the money they are amassing is worthless. And the things they want to buy will no longer exist.

America was the best place in the world because of God's grace, not because of any inherent American right. It is time for America to learn that lesson, just like all the empires before us.