Posted on 11/20/2012 6:03:31 AM PST by Kaslin
During last Wednesday’s news conference, President Obama offered his plan for dealing with the looming fiscal cliff and expiring tax cuts. While the President claims he desires to work with Congress to reduce the deficit in a balanced and responsible way, he was clear that he intends to hold the middle class hostage in order to achieve his goal of increasing taxes on more successful Americans.
How is the President doing this? By announcing that Congress must either bow to his agenda or send all Americans a higher tax bill.
While Obama was busily pushing his ultimatum, he seems to have not fully considered all the options on the table. He made the appearance of wanting discussion and being open to ideas, but in the same breath made it clear that he is unwilling to compromise. He offered only two choices. First, accept his plan to prevent the tax hikes on only the first $250,000 of income. The only alternative offered is to let everyone’s taxes increase if Congress refuses to acquiesce to this plan.
Under option one, Obama gets to make good on his class warfare rhetoric by raising taxes on the wealthy, sanitized in the terminology of “paying their fair share.” However, what the President fails to inform Americans is that the wealthy already fund most of government. According to the Internal Revenue Service, while individuals in the top 5% of income-earners made 32% of all income in the United States in 2009, they also paid nearly 59% of all individual income taxes.
The President seems to think that taxing higher income individuals will solve the problem with the Federal Government’s budget; he can fix the massive spending by bringing in more revenue. But he fails to face the reality that an extreme 100% tax on higher income individuals could not fund the government for even 6 months. Once the wealthy have been taxed heavily, the only option is to hit everyone else with higher taxes also.
Absolutely no one wants option two, and the President believes that the threat of across-the-board tax increases will cow Congress into doing his bidding. President Obama himself said that he does not want this scenario, acknowledging that increased taxes will strike a blow to a still-weak economy. In extending the tax cuts in 2010 the President stated, “It [raising taxes] would have been a blow to our economy just as we’re climbing out of a devastating recession.” Americans do not need the economic instability that accompanies higher taxes. While the President seems to realize that higher taxes on everyone will harm the economy, he seems unaware that a higher tax on the wealthy will also likely harm our fragile economy.
President Obama stated Wednesday that he was open to new ideas – good news considering the only options he has come up with both harm the economy. So here is an idea, although it is not new. In fact, at one time the President himself acknowledged it.
The best plan would be to extend tax cuts for everyone.
As one reporter pointed out in the press conference, President Obama extended all these tax cuts two years ago, so why shouldn’t he work with Congress to extend them again? If, as the President claims, we are better off economically than we were at that point, why would we cease implementing policies that have helped us?
Economists across the spectrum agree that raising taxes in a weak economy could have devastating effects. Even Obama acknowledged in a 2010 speech that the “consensus among people who know the economy best” is that raising taxes is one of two ways to damage the economy. Leaving more money with every pay check in the hands of individuals, families, and businesses is a proven way to spur economic growth. Regardless of the tax bracket one fits in, the principles are the same: lower taxes increase individuals’ incentives to work hard, make more money and invest. All actions that in turn create a better economy for all Americans.
The President should work with Congress to ensure all Americans are not hit with a tax increase in an economy that has a long way to go yet in recovery.
Raising taxes is not only bad for Americans and the economy; it also fails to address the government spending crisis. We must balance our budget by reducing spending. Congress has already made the tough choices by determining to cut $109 billion from the budget, now it just has to stay the course and make sure the cuts happen.
Congress has already made promises to rein in spending, and the President has promised to work with Congress and entertain ideas from both sides of the aisle. This lame-duck session is a golden opportunity for both to do the right thing and fulfill those promises. The only path forward to a better and more prosperous America depends on it.
THE 2013 OBAMA TAX INCREASE is a better name for Obama’s smokescreen, tax and spend “Cliff.”
THAT'S been the ultimate goal from the giddy up! Why is this ONLY NOW becoming apparent?
Mr. Reid and Madam DeFarge don't need to spell it out for you ....because if you are THAT stupid, then you deserve to have your money STOLEN!!!
The best solution?
BIG GOVERNMENT IS CRONY SOCIALISM. DEFUND their collectives. DISMANTLE their collectives. DEPOPULATE them from the body politic.
Pay, pensions and perks of all legislators past and present rescinded for not reducing/eliminating the debt.
(...it is a moral crime to give money to support ideas with which you disagree; it means: ideas which you consider wrong, false, evil. It is a moral crime to give money to support your own destroyers. - “The Sanction of the Victims”, TOF, April 1982.7.)
“—That whenever any Form of Government becomes destructive of these ends, it is the Right of the People to alter or to abolish it, and to institute new Government, laying its foundation on such principles and organizing its powers in such form, as to them shall seem most likely to effect their Safety and Happiness.”
Alter it.
live - free - republic
Maybe the only thing that will turn these people around is to let the loons have their way, & let the loons suffer the consequences. Once the banks close, the credit cards don't work, & the entitlement checks stop coming, reality will be hard to avoid.
Conservative Congressmen should vow to only vote present on all spending/tax bills, introduce no bills of this kind themselves, & offer no amendments, while remaining free to tell the American people how the Rats are digging the fiscal hole deeper. Let the Rats & RINOs take complete responsibility for their actions.
The resulting massive unemployment, inflation, & depression will either convince the foolish, or kill them. Common sense, conservative Americans are likely to survive, while lazy, criminal, entitlement types will starve. Hunger is a great clarifier. Ask anyone on the Rockaways or Midland Beach.
>>>>The resulting massive unemployment, inflation, & depression will either convince the foolish, or kill them. Common sense, conservative Americans are likely to survive, while lazy, criminal, entitlement types will starve. Hunger is a great clarifier. Ask anyone on the Rockaways or Midland Beach. <<<<
I wish I could agree with you. Certainly my emotions are in agreement with you. History tells me a different story. Starving, desperate people tend to rally around a tyrant, and a tyrant is not restrained by rules of conduct. Imagine an American tyrant with nuclear-tipped missiles. Or nerve gas stocks. Or easy access to the hinterland using the interstate highway system. Who’s the enforcers? The lazy, criminal, entitlement types are the kind who willingly become the thugs of the state. They were the bullies of the SS and the KGB. Criminals already don’t mind stealing your stuff, raping your wife, and killing you. Imagine what they could do with the solid administration of the totalitarian state.
Like I say, my feelings are with you. I have this pleasant daydream up here in Alaska that the cities and the Lower 48 can go to hell and I’d do all right living on fish from the river and potatoes from the garden. I’m wrong. Once we descend into chaos, a tyrant emerges from the rubble. Then death and darkness.
God help us.
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