Posted on 06/21/2011 4:08:42 PM PDT by Kaslin
Blurring the line between humor and cynicism, Groucho Marx famously declared: "Those are my principles, and if you don't like them ... well, I have others."
Indeed, Groucho's quip reflects what many Americans have come to expect from their political leaders. But even when America's leaders try to act according to principle, decades of political spin and "Washington-speak" make doing so difficult.
Consider the problem facing House Republicans. With the federal government bumping up against its debt limit, Republicans are demanding that any increase in the limit be paired with equally large spending cuts. As a matter of principle, they have ruled out raising taxes. This elicits the nettlesome question, "What constitutes a tax increase?"
Alas, in our nation's capital, where even the definition of "is" is parsed and cannot be taken for granted, it is sometimes hard to say clearly and definitively what is and is not a tax increase.
A change in the tax burden must be measured against some baseline; it's simply a question of which baseline. For example, under the current policy baseline — reflecting the tax rates, deductions and other tax parameters currently in force — federal revenue is expected to equal 14.8% of gross domestic product (GDP) this year.
According to the Congressional Budget Office (CBO), extending current policy would, as the economy recovers, allow that percentage to rise to 16.1% or so of GDP in fiscal year 2014.
However, under the current law baseline — reflecting current policy and how that policy is programmed in law to change automatically over time — total federal revenue is projected to rise to 19.9% of GDP in 2014 and 20.8% in 2021.
(Excerpt) Read more at investors.com ...
Lots of choices. Could the discussion use some definitions? Heck No!. Let's just go for the emotional response. We don't need no stinkin' reason.
Then let's declare it a tax increase and lobby against the horrible change!
Repeat until the US economy goes over the cliff.
If you’re not getting a tax cut, you’re getting a pay cut.
If you’re not getting a tax cut, you’re getting a pay cut.
Maybe we should just grow the economy.
Maybe a simpler code, which would almost necessarily result in some people paying more taxes (e.g. GE), would force companies to focus on manufacturing and selling decent services and products rather than crapola (e.g. GE) and getting by on government handouts.
Usually theft.
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