Vets Dying in Line is No Fairytale – VA Secretary’s Absurd Disney Comparison a Disgrace to Heroes
This Memorial Day as we honor the fallen, let us not forget our solemn vow to the living.Read More »
If House Republicans vote for the bipartisan compromise, they should be driven into the street by the tea party movement and horsewhipped — metaphorically speaking. In reality, they should be primaried.
What started out as $38.5 billion in cuts, turned into around $14 billion in cuts and a bunch of accounting gimmicks. Each new day brings new disgusting revelations. According to the Congressional Budget Office, “total federal outlays will still rise by approximately $177 billion.” Yes, that says “rise” not “decrease.”
More startling, the Congressional Budget Office reports that the deficit will only be cut by $352 million. That’s million with an “m”. The budget deficit will be $1.6 trillion this year.
Republicans who vote for this compromise are lying to the American people that they get how serious the problem is. The one silver lining is that this will hopefully radicalize freshman Republicans against anymore leadership deals.
But it’s not just Republican mendacity the republic must be worried about. Barack Obama spoke yesterday in a speech filled with lies, half-truths, and enough class warfare rhetoric to make Karl Marx blush. The mendacity of Obama’s class warfare is designed to distract from the fact that under Obama, gas prices have risen more than 100% from when he took office, food prices have gone up, and every dollar every American brings home buys less and less.
The man started his speech praising the free market and the rugged individualism of the American people, while ignoring that under his Presidency more Americans are on food stamps than at any time in American history and it is the Obama administration, not the free market, that is picking winners and losers in the marketplace.
Paul Ryan, on the Mark Levin Show last night, called Obama “a pyromanic in a field of straw men.” Obama’s mendacity goes deep — even to the point of lying about the national debt.
According to Mark Knoller at CBS News, “Even if every provision of President Obama’s deficit reduction plan is enacted – and he concedes it won’t be – there still won’t be a balanced budget on the horizon. And the National Debt will continue to expand by trillions of dollars.”
Knoller continued, “The Obama plan is designed to reduce deficit spending over the next 12 years by $4 trillion dollars. If every penny of that $4 trillion in deficits is eliminated, the government’s own budget projections show that trillions of dollars more in deficits would remain in place.”
Taking Mr. Obama at his word, a dangerous thing to do, if his plan involves three times the spending cuts as tax increases, he is still talking about a $1 trillion tax increase. In defense of taxing the rich, Mr. Obama said
As a country that values fairness, wealthier individuals have traditionally born a greater share of this burden than the middle class or those less fortunate. This is not because we begrudge those who’ve done well – we rightly celebrate their success. Rather, it is a basic reflection of our belief that those who have benefitted most from our way of life can afford to give a bit more back. Moreover, this belief has not hindered the success of those at the top of the income scale, who continue to do better and better with each passing year.
Let’s break this down:
As a country that values fairness, wealthier individuals have traditionally born a greater share of this burden than the middle class or those less fortunate.
If all Americans were taxed at 10%, people making $1,000,000.00 would pay $100,000.00 in taxes. People making $100,000 a year would pay $10,000.00 in taxes. In other words, if all Americans were treated equally, the rich would still pay more.
But wait, it gets better. Right now, the wealthiest 1% bring home 19.6% of all income in America and pay over 40% of all taxes. The wealthiest 5% pay 60% of all taxes in the country. Suddenly we’re claiming they need to pay more?
But wait, it gets even better.
Moreover, this belief has not hindered the success of those at the top of the income scale, who continue to do better and better with each passing year.
Actually, the people Barack Obama is referring to pay relatively low income taxes, and not because of tax cuts, but because they derive the bulk of their wealth from sources other than a regular salary. They make their money with investments impacted by capital gains taxes and through tax reduction strategies.
The people who will get impacted by this increase are the working stiffs who own small businesses. Obama, not ever having a real job in the private sector, might not realize it, but the bulk of businesses in this country are S-corporations, LLC’s, partnerships, and sole proprietorships. These people see the profit from their businesses flow through to their personal income taxes, unlike Warren Buffet.
Meanwhile, in his 5,600 words, Obama avoided using the word “entitlement” and dodged substantive entitlement reform.
When neither Republican leaders nor Democratic leaders can be honest with what they are cutting, how much they are cutting, or what reforms they want to do, we’re sunk. This is just another reason why returning power to the states and the people is critical for the success of this country.
Washington is failing us. The people and the states can do better.