The Fiscal Cliff – Running out of options
It is becoming very clear Obama will demand everything just in case the GOP is stupid enough to give it to him – or let all the tax cuts expire. Understand how terrible the GOP is framing arguments. For 12 years we have heard how the evil Bush Tax Cuts only benefited the rich. Now, Obama is the defender of the middle class by, wait for it, wanting to extend the Bush Tax cuts. I may be sick.
Further, the GOP is still not defining the Fiscal Cliff correctly. What is about to occur in January is not a fiscal cliff, rather it is a tax bomb on the American tax payer. The Fiscal Cliff will occur as the result of $1T annual deficits, $16T in debt and the reality of unfunded entitlement liabilities. Interest on our National Disgrace is chewing up ~$400B a year and yet our President proposed a plan that increases taxes on those already shouldering the burden and to ADDS to our debt. He called that fair and balanced (ironies to Fox News).
- His plan is not balanced. It is a sledge hammer to the American economy.
- His plan is not fair – it is pure redistribution of income. He wants government to allocate the resources. It’s Marxism.
- He is laying the foundation for VAT’s, Internet taxes and Energy taxes. You have been warned.
Obama, like tyrants throughout history, is setting himself up as the advocate of the middle class. Prepared to go over the cliff in their defense. Whatever. I believe there is another reason Obama wants all the cuts to expire, one I can’t believe no one is talking about yet. Obama desperately needs to HIDE the impact the OBAMACARE TAXES will have starting in 2013. His current tactics are akin to the magician asking you to look at his pretty assistant while he steals the watch off your wrist. Don’t look at the Obamacare taxes, look at the evil GOP protecting the rich at your expense! Holy crap, wake up people. OBAMACARE is getting ready to punish the middle class and he needs a scape goat. He is a demagoguing Marxist, but he is playing chess not checkers. I’m not sure the GOP even knows there is a game some days.
The GOP made a substantial offer yesterday. I didn’t expect the President to accept it as is, but he isn’t even considering it. He continues to offer to negotiate with IRAN but refuses to negotiate with the GOP leadership. Think about that. Your President ladies and gentlemen.
The GOP is planning a ‘doomsday’ scenario where they vote present on extending the middle class tax cuts. I don’t get that. Why vote present on extending cuts for the middle class? They will get creamed in the press on that and taxes still go up for business. That also gives Obama the microphone on the payroll tax break ending and long term unemployment ending. Both should end, but he needs to actively take responsibility, not passively be able to blame the GOP. To me, their plan accomplishes less than nothing. It could make things worse. Here is what I think they should do:
- Vote to extend the budget deal – for 3 to 6 months
- Vote to permanently extend ALL Bush tax cuts
- Pass their plan.
- No matter which option they pursue, INSIST all future negotiations are on CSPAN – no more we said then the President gets to lie about it crap.
Do all of those things first. Make the Senate react or not. Then, if the President wants to go over the cliff – here are the keys sir, You’re driving. This is going to be ugly either way. It is very clear the President wants to dismantle the GOP and set up a massive spending / money grab in the process. The GOP can either die a slow death enabling this fiscal insanity or stand up and start selling the real story to the American people. We need spending control and tax reform.
Start with this -Young people. All you college students and young liberals. Obama is robbing you blind. Everything he does is taking money from you and giving it to older Americans. Social Security, Medicaid, Medicare, Obamacare – you’re funding all of it. Sure, he is offering to borrow money from China to pick up your Independent Studies college degree and birth control but you’re being scammed in historic proportions. Maybe you should have taken one economics or finance class while at Berkley.
To the American people. The Presidents economic policies of spending $Trillions we don’t have has resulted in 2% economic growth and 8% unemployment. We tried it his way. It sucks. Further, tax receipts have hit record highs with these tax laws in effect. Trying to raise taxes has always proven to fail to generate revenue – see England, Greece, California and Illinois for examples. The real secret to the CLINTON economy was to NOT SPEND more money than we took in. It’s that simple. Really. So instead of taking more money out of the productive part of the economy, how about we try some pro growth tax policies and spending cuts.
Letting you keep money you earned is not a COST
TAXING you is confiscating private property
Federal Spending is a COST
Borrowing, Spending and passing the debt on to our children is GENERATIONAL THEFT
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