Posted on 08/06/2010 10:26:35 PM PDT by Lou Budvis
A $3.8 trillion tax increase is coming down the pike, folks. America’s tax cuts which can incentivize small businesses to expand and hire more people (thus fulfilling the mission to grow more private sector jobs), or even just to keep our doors open, will expire in four months. That expiration equates to an increase on your tax bill, starting at midnight, December 31.
I’ll keep calling out President Obama and the Democrats until they tell the American people what the plan is to save the incentives – to not allow the mom and pops’ tax cuts to expire. Granted, liberals (including stubborn “fact-checkers” who claim I’m lying about the soon-to-be tax cut expiration) are trying to clobber me for holding them accountable and prodding them toward revealing their intentions (because they’ve had 18 months to publicly propose a plan to stave off the $3.8 trillion tax increase that will soon slam us, but have revealed no plan). If they have a bill to extend the 2001 and 2003 tax cuts, let’s see it. Time for them to put up or shut up.
But you don’t have to take my word for it. Take the word of the “fact-checkers” at PolitiFact, who, before moving the goal posts in their second dissembling “fact-check” on the Democrats’ tax hikes, wrote in their original “fact-check”:
There are no formal congressional proposals yet to keep the Bush tax cuts in place, so we don’t have precise estimates from official sources like the nonpartisan Congressional Budget Office. Still, there’s a good bit of consensus on what the tax increases would look like, both if lower rates expired only for high earners and also for all incomes.
And there’s a big problem with this argument, which is that “consensus” means nothing without passing a bill, and especially not without proposing one first. Thanks to Democrats in 2001 and 2003, those bills cutting the tax rates have hard-and-fast sunset provisions that create an expiration date absent of any other action. We are now less than four months away from that expiration date after seven years of seeing it coming, after more than 3 years of Democratic control of Congress, and after eighteen months of the Obama administration. Democrats don’t even have a proposal on the table yet, and the legislative calendar is rapidly shrinking to take action before the expiration date hits. Without action, we will see a $3.8 trillion tax hike across the entire spectrum of earners.
So much for “consensus” without action. PolitiFact is curiously stating that in his 2011 budget, the President mentioned some “plan” to do something about not raising taxes on all Americans. Um, don’t know about you, but I don’t find this general, vague promise of some “plan” all that reassuring. The Left also “plans” to do something about our out of control deficits and high unemployment, and the President “planned” for his nearly trillion dollar stimulus to keep unemployment under 8%. We’ve seen how successful that “plan” worked out. The President’s budget “plan” hasn’t worked out so well either. As the economist Bruce Bartlett explained at the time, the President’s budget – including the tax promise – was never much more than a vague statement of intent. Practically speaking, it was dead on arrival. Even Bartlett couldn’t have known how dead, though, because in the end Congress didn’t even succeed in passing a budget, let alone in taking a decision on the 2001 and 2003 tax cuts.
Bottom line: until we see a formal proposal – an actual bill before Congress – then get ready for that $3.8 trillion hit.
(By the way, the Left sure gets wee-wee’d up when they’re called on something like this, eh? And here I am, thousands of miles away from DC out on a commercial fishing boat, working my butt off for my own business, merely asking the Democrat politicos and their liberal friends in the media: “What’s the plan, man?”, and they seem to feel threatened by my question. So, I’ll go back to setting my hooks and watching the halibut take the bait, and when I come back into the boat’s cabin in a few hours, I’ll log back on here to read their reply. I’ll have succeeded if they’re forced to finally reveal to Americans how they plan to increase taxes, and what they intend to do with our money. In the meantime, I’m catching fish.)
- Sarah Palin, in Homer, Alaska
Lou, your going to have to home port out of Canada!
Many are going away rather than pay, this is the redistribution of wealth plan, Idoubt they will extend the so called tax cuts.
Many will refuse to pay.
I’d like for it to happen, but unfortunately I have no confidence that the GOP won’t screw this up in the next 3 months.
She is establishing the national debate and winning it.
Her own political enemies said just that - “That she is really good at retail politics, she knows the people because she is one of them.”
She is putting the onus on the “factcheckers” and the libs....if they don’t reply with a PLAN then she proved her point.
She is establishing the national debate and winning it.
And yet, there are those among us who cannot understand that fact.
The Democrat Tax Tsunami (tm) is headed our way, Sarah. THAT’S the plan. Crush the U.S. economy and force us all into the poor house.
Some vulnerable Dems know this and are trying to find a way out but they are caught too. Committed communists like Nazi Pelosi aren’t going to give anyone a tax break, except possibly their union buds and government serfs. They’re just being quiet about it until after November when Scrooge (dressed as Barney Frank) shows up at your door demanding to be paid.
At least you can enjoy some tasty halibut while they steal your country, Sarah. But you better take cover because the Tsunami will soon be here.
Her own political enemies said just that - “That she is really good at retail politics, she knows the people because she is one of them.”
Socialism is smoke and mirrors and she has cut through the smoke and broken the mirror. Obama is as naked as the emperor in his new clothes.
That’s why I don’t get exasperated like some do...because i truly believe a fully operational Palin campaign WILL run circles around many Republicans and Democrats....Her past history in big campaigns when she’s in control are masterful
Government Spending lasts forever, kinda like Herpes.
Obama put the pedal down (remember "hit the ground running"?) as soon as he swore to prentend to be President. It's designed to get us as far toward his Socialist Utopia as he can before the opposition stirs up the needed resistance to stop him.
That's no regular football this pretentious running-back has tucked under his arm: it's an original, 1917 Karl Marx special, a pigskin that has wooed every Sotomayer and Kagan cheerleader to undulating heights over the ages. They'll be kicking real high, I just hope they're wearing.....nevermind. I work to avoid throwing up, and my stomach's pretty strong, but still.
The tax-cut lapse may be BOzero's way of swelling the ranks of Bolshe who won't give a vic about those who 'have' something when they don't. I mean, who's affected by a tax increase other than those who are actually paying taxes? And aren't they something like 50% today? Shut down oil drilling, talk about Green energy, tax CO2, and it's squeeze, baby, squeeze 'till something pops.
As a community agitator, he knows how to recruit the downtrodden. And, if you want your team to win, create more 'downtroddens'. It's so simple, even a Caveman can do it.
Does anybody think that Obama will pull out an October Surprise and keep the Bush taxcuts???
She’s for real. Like David slaying Goliath.
I’m out mowing hay, she’s catching halibut. What are Barack and Michelle doing?
Real people do real stuff to make it these days.
Does anybody think that Obama will pull out an October Surprise and keep the Bush taxcuts??
If he does something to extend the cuts, it will be targeted to be in line with the general socialist goal of redistributing the wealth.
Bob J, OldDoucheHand, counterputz, and pissant.
No...it’s in there liberal bones to never do such a thing, they then would have to agree that tax cuts work, not tax raises....now they may keep one or two tax credits to say that they’re doing something, but the whole thing? no
You don't mean to imply that those able to avoid being robbed/mugged/bled dry, are actually doing so? Do you?
How unpatriotic to avoid being financially ruined. /s for the sarcasm impaired.
Hilarious!
Sarah Palin is moving the national debate on tax policy while taking breaks from line baiting on a fishing boat.
That is the very definition of multi-tasking.
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