Posted on 12/18/2010 11:46:43 AM PST by timesthattrymenssouls
The extension of the Bush tax rates (what the media is now calling Obama's tax cuts) is a victory for Conservatives that should not be squandered. The Obama tax cuts are neither Obama's--they are Bush's--nor are they tax cuts--they are an extension of the current rates that were set to expire on 12/31/10. But the claim of the Democrats that these extensions had to be made because raising taxes on Americans in this economy would be disastrous is a true victory for Conservatives. It is also sound fiscal policy and should be capitalized on.
An editorial in today's Wall Street Journal points out: "As Milton Friedman taught us with his "permanent income hypothesis," consumers base their consumption on their longer-term income expectations, not merely on current income." Temporary tax rates return money to its rightful owner, the earner, but without the certainty of knowing what future tax rates are increased consumption will be muted by the lack of clarity. The Republican majority in the House has a golden opportunity to revisit the tax question while they have the Democrats on their heels and push for further, permanent cuts in 2011.
After passage of the bill Senator Dick Durbin (D) claimed: "The president has a big victory here. It's big because it means there won't be a tax increase at the first of the year, which could have hurt our economy."
Suddenly, though not un-coincidentally (recall the landslide November elections), the Democrats have found lower tax religion. If, as the Senator says higher taxes "hurt" our economy, why has it taken two years for the Democrats to support this extension of the Bush tax rates in an economy they call the worst since the Great Depression? Additionally, why didn't they propose lower and permanent rates to further stimulate demand?
President Obama, too, is a an enthusiastic member of the lower tax club. Only a week ago he was complaining that the House Republicans were holding unemployment benefits hostage to the tax rate extensions, then upon signing the bill declared: "This is real money that's going to make a real difference in people's lives. That's how we're going to spark demand, spur hiring, and strengthen our economy in the new year" (Reuters)
Ronald Reagan move over and meet the new supply-sider in the White House. His claim that "lower taxes spark demand, spur hiring and strengthen our economy" should be rung from every mountain top from now until 2012.
You heard it here folks.
What garbage. Obama was forced into this, he knows he needs an improving economy to have any chance at re-election, so he can then finish America off. This is pure leftist strategy. Obama is the opposite of Reagan, Obama hates America and wants to destroy it and will do so by any means necessary, even if that means is to act conservative.
Exactly. That is what makes it so rich. Let’s hope the Republicans leverage it in 2012. I miss Ronnie.
That is not the conservatives' brief against taxes, but the economists' brief. The economic strength of the country is not a government function, the conservative would argue, but a private function, which the private sector will provide for quite bountifully if government will just stay out of the way.
The conservative brief is that government is limited and restricted to certain functions and that taxes should only be assessed to provide for those minimalist functions, those we agreed to in our compact with each other to form a government for the national defense and general welfare. Anything more is a violation of the constitution - a violation of that pact between and among the People - and a theft of private property.
Moreover, the conservative would argue, additional funding to the government means additional bureacrats, additional interference in the lives of its citizens, and not irrelevantly, interference in the ability of individuals to engage in productive enterprise to provide their peronal wealth, which collectively results in the wealth and power of the country.
But a liberal misconstrues the conservative position by attempting to argue, "we are all conservatives now."
They change their political mind as needed to survive honest workable conservative conviction.
By Christmas it will be touted as the Obama tax cuts.
That of which started out as a promotion of giving of the poor peoples money to the EVIL rich by the party of "change".
Eight years of Bush tax cuts destroyed us and NOW Obama is promoting 2 more years of it after stating with conviction that higher taxes is the ONLY way out of the desperate financial situation that we are in presently.
I would hate to be a democrat politician right now....
I called our local newspaper’s soundoff this morning with the very same comment.....that until the tax extension passed, it was called Bush’s tax cuts but as soon as it was voted on and Obowsalot signed it, all of a sudden it became Obama’s tax cuts.....I pointed out that it was an extension of the Bush tax cuts, meaning extension of the current tax rates. Wondered if zer0 will acknowledge that this is one thing that really is Bush’s fault - oh wait, that would mean admitting that W knew what he was doing....
This article is pure BS. Move over Jimmy Carter.
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