It had to be one of the more epic political understatements of the last five years. President Obama announced in his grandiloquent, condescending manner that he wouldn’t balance the budget just for the sake of balance. Well that’s a relief. Maybe our President could try balancing it so that we don’t wind up allocated a significant chunk of our GDP in the out years to paying off our current year ongoing spending binge. Oh, wait, I get it! The light bulb just turned on. President Obama doesn’t even intend to TRY and balance the Federal Budget. Wow! That makes it easy.
So if we no longer care about balancing the Federal Budget in any way, shape or form, could we all just scrap the idea of jacking everyone’s taxes through the roof? Ben Bernanke will just print us out of any trouble. The dollar is the world’s de facto currency. Our government’s spending is no problem. Therefore, we can all just keep our money and live happily ever after in our Post-Modern, Disney Consumption Land. Barack Obama is far too nice a gentleman to even consider another round of tax increases. Bwank! Thanks for playin’!
The tax increases are everywhere on the Democrat agenda. Never you mind that they have no intention of even trying to balance revenues against expenditures. They intend to grab the revenues. They intend to grab the power over your life that the revenues will give them. The Democrats are after your wallet by any methodology they can use to horn in on its contents. Three primary methodologies include regulatory interpretation of ObamaCare’s taxation changes, imposition of the carbon tax and a filibuster-proof tax reform bill being proposed by Patty Murray in the US Senate.
We saw yesterday how Senator Mitch McConnell pilloried the regulatory findings made by Executive Branch agencies regarding Obamacare. One day’s release stacks the paperwork up to the ceiling. Why the red tape and utter harassment? Sometimes a picture is truly worth 1,000 words. The TaxProfBlog gives us a rather frightening picture below.
The Real ObamaCare Tax Burden Vs The Promised One
And now they remind us that we all are supposed to love the environment. The only way to do this properly, according to Senator Whitehorse (D-Broke Island) is to tax the evil manufacturers every time they omit carbon. (They emit a modified form thereof every time they exhale after breathing*). Senator Whitehouse and his daffy allies can’t quite make up their minds whether to tax carbon emissions $15, $15, or $35 per ton. They also can’t decide whether the annual jack-rate on top of that should inflate the tax by 2% or 8% per year.
OK, so Senator Whitehouse loves us and he’s doing it for the children. Just how effective would this be at saving the planet? According to The Heritage Foundation, it would accomplish two things. One, the reduction in global CO2 levels in PPM would be minimal. Two, it would be reversed as more and more companies jettisoned their US-based plants and workforces to move to places like China where they can omit to their greedy, capitalist heart’s content.
The Heritage Chart below shows just how useless unilateral US Carbon regulation would be in reducing global CO2 concentrations. So other than making US-based manufacturers go visit Sen. Whitehouse and say “Mother, May I?” before they do anything crazy like make things, what would a Carbon Tax accomplish? What would it have to accomplish? Once these manufacturers are forced to ask Sen. Whitehouse for permission to continue their existence, the man has gotten exactly what he wants from the deal.**
A CO2 Tax Will Not Reduce CO2 Much
And finally we come to that dear old mom in tennis shoes. Our Dear Friend Senator Murray from The Great State of Washington. It appears that she intends to do something completely alien to the DNA of our current US Senate and actually propose a Federal Budget. Turn off the sequester, and Murray’s budget contains absolutely no spending cuts whatsoever. What it does contain, however, is over $1Tr in new taxes. Oh, and she doesn’t intend to allow GOP Senators to filibuster this budget either. The bill would contain reconciliation instructions – 51 votes to pass the crap sandwich – it’s the New Democracy.
So, on the one hand, President Obama says he doesn’t intend to play silly, PR games like balancing the Federal Budget. On the other hand, he and his allies pursue every drop of revenue they can from working Americans. So if our nation’s leadership doesn’t even care if the budget balances, why are they hard after the revenue? It’s about the power. Every dollar they transfer is freighted with power. It’s not just your money that gets taken to Washington, DC every tax day. It’s your ability to make volitional decisions that impact your own life. And that’s exactly how the current leadership in Washington, DC will continue to like it for at least as long as Barack Obama remains US President.
*-Would letting those omissions slide constitute an egregious form of spending in the tax code?
**-As Sen. Menendez likes to put it: “Screw the children.”
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