The Hill: "Dems embrace new strategy on taxes"
Democratic leaders are embracing a new strategy for tax reform that leans on President Obama's State of the Union call for tax fairness and economic equality.So instead of trying to broaden the tax base to increase revenues, we have this political strategy that is sure to go nowhere fast. As for punishing those outsourcing companies, Hit & Run covered that one: "Obama's daft plan to insource jobs back to America."
The new strategy diverges from the 1986 formula, the last time Washington successfully tackled tax reform, and focuses on raising tax revenue from the wealthiest taxpayers and businesses that funnel jobs offshore.
Aside from the bogus case for tax "fairness" do Americans really understand the magnitude of our debt problem? Scaling back the Bush tax cuts will produce an extra $70-80 billion in revenue a year, or about what we're borrowing every three weeks. The 30% millionaires surtax is a laughable drop in the bucket and one that can be easily sidestepped by people like Bill Gates who earn their compensation in Microsoft stock.
Speaking of Bill Gates, did you hear what that awful miser did with his filthy lucre? He's a monster.
4 comments:
Scaling back the Bush tax cuts will produce an extra $70-80 billion in revenue a year, or about what we're borrowing every three weeks. The 30% millionaires surtax is a laughable drop in the bucket and one that can be easily sidestepped
The Keystone pipeline will not come close to solving our country's energy problems, and it won't create anything close to enough jobs to wipe out the unemployment rate. It's a joke.
The health care law hasn't cost very much, compared to the national debt. Overturning it will only make a small dent in the number... so why bother?
Even if we cut the size of our government, it's still going to be very big. Come back when you have a serious proposal.
And so on. You can see why this line of argument is rubbish.
Only if you believe spending is not the cause of our deficit. As somebody noted, it's like being on the Titanic and Captain Obama saying: "If we could only get another 10% out of bilge pump #3."
Well, Obama wanted to run against a "do nothing" Congress and the Senate Democrats are going to accommodate.
Several short years ago our government was spending two and a half trillion dollars... a decade before that it was spending two trillion dollars... and no one in their right mind at either time suggested that the problem in America was not enough spending.
Today we're spending four trillion. That's the problem. Drop it back to two and a half (where it was only several years ago) and all our debt and budget problems are better. Not hard to figure out.
A good President would have figured out how to make the same amount of spending as Bush go farther- a smart guy and a talented guy should have been able to do more with the same as an idiot and moron like Bush. Spending twice as much and seeing less results is kind of an iron-clad verdict that Obama sucks.
Cute metaphor try, but Obama's not the captain of the Titanic. He's the captain of the Carpathia.
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