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If one thing stood out from President Obama’s speech on Wednesday, his second attempt at a budget in as many months, it’s how little credence the president gives to the idea of prosperity. In fact, he only mentioned the word once in his entire speech, and that came as he was describing America’s past. By contrast, President Obama mentioned taxes and his plans to raise taxes at least two dozen times.
For those keeping score at home, that’s 24 to 1 in favor of tax hikes, a number that speaks volumes about this president’s agenda. Is there a clearer way to describe the difference between the two parties budget proposals?
Republican Paul Ryan‘s plan is a path to prosperity that enacts serious entitlement and tax reforms to considerably limit onerous government, while the president proposes an economic road block in the form of more taxation and deficit spending much like that of the past three years. In fact, you would be hard pressed to recognize America’s entrepreneurial spirit in the vision President Obama laid out Wednesday, crediting not the people of this great nation for our accomplishments, but instead the myriad of government agencies.
The president’s efforts to tackle debt with tax increases rather than sharp reductions in spending is hardly a worthwhile goal, an attempt to scapegoat the most productive industries in our nation and shift the burden from bureaucrats to the taxpayers. This ignores the real problem – a bloated, obstructive, and inefficient centrally planned government that truly threatens American prosperity and ingenuity.
President Obama has failed to act to reduce the debt, passing budgets that dwarfed those of his predecessor, George W. Bush. Since taking office, he has spent more money than any president in our history, including a one trillion dollar stimulus that failed to create jobs. Now he is suggesting tax hikes as companies just now start to emerge from the recession and hire again.
The president’s plan is bad for the U.S. economy. If your boss or employer suddenly has to pay more to the government in taxes, it means they have less money to bump up your salary, less money to pay those just starting out in the workforce. This doesn’t help middle class families, it hinders them.
President Obama is proposing tax hikes and more spending when we need to limit the size and scope of the government to focus on prosperity. That means lifting burdensome regulations and expanding economic freedom, not tying the hands of small businesses and entrepreneurs.