Defending Capitalism and Our Children’s Future
Once again, Mark Levin had it exactly right yesterday.
“Let me help you out — we’re not defending millionaires,” Levin said. “We’re defending capitalism. We think the government is big enough.”
A chart to help demonstrate my point. The Fiscal Cliff was created by obscene, irresponsible spending. I built this graph using data from the White House website. Finally, something from Obama I could use. See, I am not too big to admit that. Note the graph. Now, my masters is in micro, not macro economics but I still think I got this mostly right.
- Tax Receipts increased to all time record highs DURING the period the Bush tax cuts were enacted
- Despite the decline in receipts during the recession, tax receipts still exceeded those of the glory “Clinton” years
- Tax Receipts have increased, almost back to those record levels yet we ran annual deficits of $1.4T, $1.3T, $1.3T and $1.1T during Obama’s term in office
- As a result, our National Debt has gone from $10T to $16T in 4 short years
- The $800B “one time” Stimulus has been added to the baseline budget
Two Big Points:
Had we held spending at the 2008 level of $2.9T during Obama’s term, our National Debt would be $2.4 TRILLION LOWER than it is today.
Had Obama gotten his tax increases on the wealthy four years ago, we still would have run $1 TRILLION plus deficits each of the past four years, adding over $4.8 TRILLION in Debt (vs $5.1T actual)
$2.4 TRILLION vs $320 Billion. The problem is spending
The Democrats have no interest in reducing the debt. The tax increase on the wealthy is nothing more than window dressing to divert your attention. A token show they are ‘serious’ about fiscal reform. It’s P.T. Barnum with the power to tax. They simply are looking for ways to maintain current spending levels. Spending levels we were fine without for the first 240 years of our Republic
Government can simply not be trusted with your money. Every dollar you send them they spend – or use to pay interest so they can borrow from China to spend more. No money every goes to reducing our debt. It only goes towards more borrowing and spending. It is a spending problem. Period. This is the debate we should be having. Not this class warfare nonsense about the wealthy paying their fair share. Half this country doesn’t pay taxes. The other half can’t afford the checks they’re writing. We are reaching the tipping point