Posted on 07/11/2011 6:08:02 AM PDT by Sub-Driver
Taxes Upon Taxes Upon . . . Obama wants $1 trillion in taxes on top of what he's already signed.
So the fondest Washington hopes for a grand debt-limit deal have broken down over taxes. House Speaker John Boehner said late Saturday that he couldn't move ahead with a $4 trillion deal because President Obama was insisting on a $1 trillion tax increase, and the White House quickly denounced House Republicans for scuttling debt reduction and preventing "the very wealthiest and special interests from paying their fair share."
How dare Republicans not agree to break their campaign promises and raise taxes when the jobless rate is 9.2% and President Obama's economic recovery is in jeopardy?
We think Mr. Boehner is making the sensible choice. No one wants to reform the tax code more than we do, but passing a $1 trillion tax increase first on the promise of tax reform later is a political trap. If the President were really sincere about reform and a willingness to keep the top tax rate at or below 35%, he'd negotiate that at the same time he does a debt deal. Mr. Boehner will have a hard enough time getting any debt-limit increase through the House, much less one that raises tax rates.
Keep in mind that Mr. Obama has already signed the largest tax increase since 1993. While everyone focuses on the Bush tax rates that expire after 2012, other tax increases are already set to hit the economy thanks to the 2010 Affordable Care Act. As a refresher, here's a non-exhaustive list of ObamaCare's tax increases:
(Excerpt) Read more at online.wsj.com ...
eliminate 95% of government and no taxes are needed!!!
“the head of IMF is demanding the US raise its debt limit”
While they rely on us to fund them for their very existence...
Taxes, taxes, taxes.
You make it, we take it.
Now fork it over: we need raises. :)
“If the debt limit is not lifted then we acquire no more debt.”
Fine, but most of what we spend is in social security and medicare checks. If we dont raise the debt limit, those checks dont go out.
That’s not gonna work ... at all.
“The constitution requires that we pay our debt so the fat cats of spending will just need to figure it friggen out.”
The answer - cut entitlements - is politically unpalatable.
“If I was in debt, my balanced approach would not include a demanded pay raise at work, would it?”
No, but politicians will lose their jobs if they stop handing out the freebies.
That’s the real problem, we have a nation of 50% taxpayers and 50% freeloaders. If the freeloaders outvote the taxpayers, the system is doomed.
“If the debt limit is not lifted then we acquire no more debt.”
Fine, but most of what we spend is in social security and medicare checks. If we dont raise the debt limit, those checks dont go out.
That’s not gonna work ... at all.
“The constitution requires that we pay our debt so the fat cats of spending will just need to figure it friggen out.”
The answer - cut entitlements - is politically unpalatable.
“If I was in debt, my balanced approach would not include a demanded pay raise at work, would it?”
No, but politicians will lose their jobs if they stop handing out the freebies.
That’s the real problem, we have a nation of 50% taxpayers and 50% freeloaders. If the freeloaders outvote the taxpayers, the system is doomed.
We need a President who is less focused on punishing the employed and more focused on getting people employed.
trusts are supposed to spend 5% of their wealth each year on something. Harvard and Yale were exempted for some reason, those exemptions should end. as a start
What happens when the government employees can outvote the people??
Yes the interesting thing is that the Feds (Pols) see no need to hide their systematic looting of taxpayers money now. I have tried to figure out what kind of mind would destroy the lives, retirement or otherwise of American Citizens. Is it pure ideological ignorance. Progressive/Socialist agenda depend on a lazy, self obsessed citizenry.
The total detachment from the reality of the conditions for regular Americans during this recession (2) is scarey. Means they have no intention of considering what Americans want.
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