OOps…. srroy AbOuT…. T.haT… BaNgInG HeAd on KeYbOaRd…
The president says raising tax rates would help solve our long-term debt problem, but it’s hard to take this argument seriously, for two reasons.
First: According to the president’s own Treasury Department, the tax increases he is advocating would generate $85 billion in new revenue next year. By comparison, the monthly budget deficit in October was about $120 billion, and the total deficit for fiscal year 2012 was roughly $1.1 trillion. Simply put: We cannot tax our way back to budget surpluses and economic prosperity. Without major spending cuts and entitlement reforms, we will continue running huge deficits, regardless of what we do on the revenue side.
Several things to watch for in all of this budget bullsh!t from Demonrats, and that is what it is – BS -, are the following:
- Whenever you hear the term “Tax Expenditure” HEADS UP’! That is Demonrat politispeak for “Raising Taxes”. They consider your income as theirs to own, so if they give you a “tax break” or “tax deduction” they consider it a “tax expenditure”. Money they have ALLOWED you to keep, out of their kindness. If they are reducing tax expenditures they are raising taxes.
- Whenever you hear the numeric value put on the deficit reduction look at two things. a) The Amount, and b) The Timeframe. In the ridiculous Obama example above he is talking about an imaginary subjective goal of his to reduce “deficit spending” (not the actual deficit, just reduce the speed of spending above revenues) by $850 Billion over 10 years. OR $85 billion per year. $85 Billion per year is pittance. The deficit is by itself over $1.1 Trillion per year.
- If they wanted to remove the deficit the TRUE TARGET would be $18 Trillion in spending over 10 years.
The Demonrats have not proposed a budget, they never passed a budget last year, they are just sitting on the sidelines trying to score political points taking shots at those who are actually engaged in trying to make real substantive progress on a huge issue.
It is all just politispeak on the part of the Demonrats. Spin, manipulation, smoke-n-mirrors etc. They know “entitlements” have to be dealt with, but they prefer to position themselves as FOR support of “entitlements”. So they are playing a game of Russian Roulette with our economy. They are insufferable……./SD