Skip to comments.A Fiscal Fix or Another Fix
Posted on 01/14/2013 4:42:40 AM PST by Kaslin
Were you relieved when you heard on January 2nd that the House passed the Senate "compromise" bill to reinstate the Bush tax cuts for everyone making less than $400.000? People sighed, "At least my income taxes aren't going up!" The market reacted with immediate gains--the money keeps flowing. Like the drug addict in search of his next "fix"--Americans seem deluded into thinking that more spending is the solution.
How many times have you heard the media comment on the next "solution" to deal with the crisis in Greece only to realize that the "solution" quickly failed leading to a new crisis? While watching the European Union struggle with unsustainable government promises, we continue to duplicate their mistakes. Do we care?
Somehow, President Obama and irresponsible politicians on both sides of the aisle have bought the illusion that government can spend its way into an economic recovery. If you tried spending more money you don't have to right your family's budget, do you really think that would help?
President Obama continues to say that we don't have a spending problem and that the economy needs more government spending to right our economic ship. President Obama wants more money to fund Obamacare and expanded entitlement programs. He wants the authority to exceed the debt ceiling without Congressional oversight. If your teenager had used your credit card to create a huge debt, would you let him keep it to spend more?
It's clear that our politicians believe that you don't care about the exploding deficit. Instead of fixing the problem, you want another "fix" of government goodies. Corporations want them. Individuals want them. Farmers want them. The unemployed want support extended.
You will hear politicians talk about "cuts" in spending. But what they are really talking about is just decreasing the rate of scheduled increases. Look at the fine print. Most of the "cuts" President Obama has proposed happen after he is out of office. Do you really think the next president and their administration will have the political will to honor "cuts" that will anger dependent voters?
Ron Paul has said that we've reached the point of no return. We won't be Greece any time soon, but we are on the road to a major fiscal calamity. What happens when interest rates go up to attract investors to fund our debt? The cost of servicing that debt will take a larger share of our federal budget. In response, they'll print more money which decreases the value of the dollar and your savings.
How long before the "rich" who have been targeted to pay for these excesses will leave for greener pastures? The administration has made it clear that they're still not paying enough. Soon their deductions will be limited.
These Americans did things right. They worked hard, saved, invested, made the American Dream work for them, but now they have become the donkey expected to pull the whole wagon up an increasingly steep hill. Because of increases in taxes, many are leaving CA and going to states where taxes are lower and incentives greater. They're taking their businesses, investments and jobs with them.
But what happens when they can't escape the taxes imposed by the federal government? Why not head to a country where flat taxes are waiting? The French actor, Gerard Depardieu, is avoiding France's excessive income taxes by moving to Russia where their 13% flat tax has created economic growth.
As Congress faces off with President Obama over the debt limit and spending, many are saying the public will blame Congress if they take a stand to end this madness. If so, the blank check will be signed for another round of excessive spending. Wake up. Responsible parents know the importance of saying "no" to irresponsible teens. Responsible citizens are ready to support politicians who will finally do the same thing in Washington and Sacramento. Demand a fiscal fix that will last!
They are still here?
The rich are leaving?? No.
Congress isn’t going anywhere and they are the rich.
They know the ways around paying more. They aren’t stupid enough to raise their own taxes. They may get a few of the well off to pay more, but the rich still have ways to hide their rich’s.
The last “deal” that was made did nothing but kick te can down the road for 2 months so Obama can attack the Republicans again then. It was a stupid deal made by people frightened of not getting elected again by the entitlement class.
We have reached the point where those working can no longer be taxed enough to keep those who do not work in the fashion to which they have become accustomed.
We must cut the entitlements or we will drown in debt.Obamacare is just another huge entitlement.
Unemployment must be cut, Food stamps must be cut,WE have to stop with these credit cards for the poor who use them at liquor stores and gambling places.
Certainly it is hard, but like a rescuer who gets dragged down by the person drowning, we are going down.
It did one other thing.
It extended most of the Bush tax cuts indefinitely as well as fixed the AMT.
Since 2003 ten years ago the best Rs could get as temporary extensions to those tax rates, meaning there was always a looming expiration date where they would go up. Now that is over.
They delayed the automatic spending cuts two months, not sure why or what House Rs position on them is.
They can do away with the Bush tax cuts tomorrow.
Yes they extended them but anyone knows that is not permanent. Nothing is.
In another month and a half we will face the same crap we faced when this Bulls**t sequestration garbage came along.
Once again Republicans will eat s**t as Obama claims Repubicans are at fault fo closing down the Government.
That sounds like Rush talking.
Well if certain House Rs had their way and killed that bill, they would have all gone now and later wouldnt matter much.
He acts like he doesnt know the difference between current laws (tax cuts expire automatically) and ‘could be’ laws where both houses of congress pass a law and the POTUS signs it.
using that line of reasoning, They ‘could’ ban all guns tomorrow, unless they cant get it through congress both houses.
That is not the same as all guns being illegal today unless O can get a bill through the House and Senate to outlaw them.
All pigs COULD fly tomorrow, unless they dont sprout wings. This is why I rarely listen to Rush,
Keep your eyes open. When this new debt crisis shows up again in a month or so you will see more taxes.
Republicans will fold up like a cheap paper suit.
No then wont because they dont have any more taxes going up automatically anymore (unlike Jan 1) , because what you called a ‘fold’ kept that from happening.
If push comes to shove they will just increase the debt limit again.
Bohner wasnt going to be the goat who went down in history as the one guy who blocked the bill that kept 98% taxes from going back up. Notice not one stepped up to plate to tak his job themselves.
Its easy for Rush to give such bad advice for others because:
1) No one whould be that goat so Rush can claim anything about how it would have turned out.
2) If the impossible happened and they did it, then after it all blew up on Rs Rush would just say he told us the Media would get Rs all the blame.
3) The more power Dems gets the more business $$ Rush makes.
You must be sleeping. Obama and Pelosi have both been saying that the taxes they just placed on the rich is not enough. Obama has said flat out that this new debt ceiling will not be passed without more taxes. We just got a 2% payroll tax Jan. 1st. Obamacare is coming in -—more taxes.
Boehner is a goat, and he will agree to raise more taxes when the debt limit is discussed.There will be no cuts.
You are absolutely wrong there, 100% here.
Obama is demanding a clean debt limit bill with nothing attached, nothing. He says this every day, nothing.
Are far as tax increases he said they have to go with any spending cuts not with the debt limit. So Bohner will extend the debt limit with no tax increases, possibly after a symbolic stand.
Dont depend on Rush to tell you what O is demanding, he is usually wrong