[ilgipper]

the idea of a balanced budget amendment is great, until we get out taxes jacked up 40% to ‘pay for’ the spending we cannot due without.

[cripplecreek]

Constitutional tweaking gave us congressmen that can’t be recalled.

[Huck]

Here in NJ it’s working. Balanced budget two years in a row with no new taxes.

[LyinLibs]

“The idea of a balanced budget amendment is great, until we get out taxes jacked up 40% to ‘pay for’ the spending we cannot due without.”

Exactly. Snowe + RINOS + Democrats want THIS to happen:

STEP 1 - Pass “Balanced Budget Amendment.”
STEP 2 - Say “Oh no, we just spend 2X and we only collected 1X in taxes!”
STEP 3 - Double the tax rate (to collect 2X, enough to cover the spending you just did).
STEP 4 - Congratulations, you just balanced the budget!

[LibLieSlayer]

If written correctly, that can’t happen... but what an IF!

LLS

[icanhasbailout]

They cannot collect double the taxes. They're at about the maximum tax revenue they can collect right now. If rates go up, evasion and avoidance behaviors will shoot the moon.

They've already maxxed out what they can squeeze out of us. Believe you me it's not a conscience that restrains them, it's the certain knowledge that they will end up with less in the net if they do (see: tobacco taxes).

So the bottom line is that a balanced budget amendment will force the cut of spending of 43%, and any attempt to raise taxes instead of cutting spending will destroy the economy and thus the ability to raise tax revenue at all.

dirty little secret .gov doesn't want you to know: Tax revenues are already cratering and they are not looking to recover anytime soon no matter what tax rates are.