If you read Biblical Conservatism last week, you saw my take on the big Fiscal Cliff deal: It's a joke. A pathetic game of make-believe by Washington liberals that the problem is lack of revenue, not excessive spending, enabled by cowardly Republicans who were afraid to be blamed again (we were blamed anyway).
That being said, two important conservative points have either now been made or will be made as a result of this deal.
The point that the Left has unwittingly conceded is this: Apparently the Bush Tax Cuts weren't just "tax breaks for the rich" since, according to the liberal talking points, only the top 2% constituted the rich. Considering the Left now wants to trumpet how they "cut taxes" for the middle class, aka 98% of taxpayers, clearly the Bush Tax Cuts WEREN'T just for the rich. Apparently 98% of the people whose taxes were cut were in the Middle Class. JUST LIKE REPUBLICANS SAID IN 2000!!! Oops.
For the record, at this point, no taxpayer is seeing their taxes were cut, except in the baloney jargon of Washington where your official tax rates that you never paid that were in place for a day mean more than the tax rates that were in place by twelve years. If you pay taxes and you are in that bottom 98%, your tax rates are staying the same as they have been now for twelve years. They haven't been cut.
The second point is this: The Left now has their revenues. Supposedly, they've claimed all they want is a "balanced approach" which combines new revenue with cuts. They've got their revenue increase. They've said that if we gave them revenue, they'd cut spending. Where are the cuts in spending? (Spoiler: There won't be any real cuts from Democrats that aren't forced by Republicans, and if you believe there will be, I've got some ocean front property in Idaho to sell you.)
So let's see the other half of President Obama's "Balanced Approach" yes? Oh wait, there's more spending not less in the bill...and the President has no intention of making real cuts. As always, President Obama's spending plans are as balanced as a single person sitting on one end of a teeter-totter.
Here's the simple fact. The Fiscal Cliff deal was a joke, just as I wrote last week. But it does involve two points proven. Apparently the 2001 and 2003 Bush Tax Cuts WEREN'T just for the rich. Apparently 98% of the people who got their taxes cut weren't rich, according to the Left's own language. Two, the Left has their "increased revenue."
Now let's see the cuts.
(I'm not holding my breath.)
Showing posts with label Fiscal Cliff Deal. Show all posts
Showing posts with label Fiscal Cliff Deal. Show all posts
Wednesday, January 9, 2013
Thursday, January 3, 2013
The Fiscal Cliff Deal is a Joke
A massive joke at that.
Seriously, friends. The President spent the past few months whining and crying about how we needed to have a "balanced approach." Really what he was saying is "WAH WAH WAH LET ME RAISE TAXES!" There was no reason to raise taxes. These increases aren't helping solve the deficit in any real way.
As I said a couple weeks back, the Obama plan was only going to cover nine days of deficit spending. That number was based on raising taxes on those making over $200,000 a year. This was supposed to raise $85 Billion in new revenue. The deal raised taxes on those who make over $400,000 a year, which, according to the best information I could find, raises $62 Billion in new revenue. (Of course that's with static budgeting. The actual amount will likely be less.) Combine that with a whopping $15 Billion in spending cuts (sarcasm) you've got enough money, assuming these numbers (which are heavy on accounting tricks) that gives us enough money to run the government for seven days. Add in the sunset of Obama's payroll tax holiday, you might (and I emphasize might) cover one more day.
We currently borrow money to run the government for 127 days a year. Every year. That translates into over $1.3 Trillion in deficit spending. We're going to add over $5 Trillion to our national debt by the time President Obama leaves office in 2016, we will have a national debt of over $20 Trillion. When the President took office, it was just shy of $12 Trillion. That means, including interest, the President will have added EIGHT TRILLION DOLLARS to our national debt. But hey, he's also added enough revenue to cover LESS THAN ONE PERCENT of his increased spending.
My friends, I couldn't be more disappointed in this deal. This is a JOKE. We are spending more than we have. The problem isn't insufficient revenue. Neither the tax increases the President wanted nor the ones he got are going to make a darn bit of difference. In fact, we cannot tax our way out of this debt. It is simply not possible. You could not raise enough revenue to pay for our spending if we simply confiscated 100% of all income above $1 for all people who earn $100,000 a year or more to pay for our current spending. Especially when you consider the fact that this includes 99% of all employers in the country. Oh, and NOBODY BUT NOBODY is going to work all year to earn $0. Period. Not going to happen.
Once again, the Liberal Media has conspired with the Democrat Party to sell the American People a set of invisible clothes. Our real problem remains ignored. The Republican Party has, at least in part, shown themselves to be cowards, which means I for one have no hope. Somebody talk me off the ledge here, because the world's biggest conservative optimist is starting to feel hopeless.
Seriously, friends. The President spent the past few months whining and crying about how we needed to have a "balanced approach." Really what he was saying is "WAH WAH WAH LET ME RAISE TAXES!" There was no reason to raise taxes. These increases aren't helping solve the deficit in any real way.
As I said a couple weeks back, the Obama plan was only going to cover nine days of deficit spending. That number was based on raising taxes on those making over $200,000 a year. This was supposed to raise $85 Billion in new revenue. The deal raised taxes on those who make over $400,000 a year, which, according to the best information I could find, raises $62 Billion in new revenue. (Of course that's with static budgeting. The actual amount will likely be less.) Combine that with a whopping $15 Billion in spending cuts (sarcasm) you've got enough money, assuming these numbers (which are heavy on accounting tricks) that gives us enough money to run the government for seven days. Add in the sunset of Obama's payroll tax holiday, you might (and I emphasize might) cover one more day.
We currently borrow money to run the government for 127 days a year. Every year. That translates into over $1.3 Trillion in deficit spending. We're going to add over $5 Trillion to our national debt by the time President Obama leaves office in 2016, we will have a national debt of over $20 Trillion. When the President took office, it was just shy of $12 Trillion. That means, including interest, the President will have added EIGHT TRILLION DOLLARS to our national debt. But hey, he's also added enough revenue to cover LESS THAN ONE PERCENT of his increased spending.
My friends, I couldn't be more disappointed in this deal. This is a JOKE. We are spending more than we have. The problem isn't insufficient revenue. Neither the tax increases the President wanted nor the ones he got are going to make a darn bit of difference. In fact, we cannot tax our way out of this debt. It is simply not possible. You could not raise enough revenue to pay for our spending if we simply confiscated 100% of all income above $1 for all people who earn $100,000 a year or more to pay for our current spending. Especially when you consider the fact that this includes 99% of all employers in the country. Oh, and NOBODY BUT NOBODY is going to work all year to earn $0. Period. Not going to happen.
Once again, the Liberal Media has conspired with the Democrat Party to sell the American People a set of invisible clothes. Our real problem remains ignored. The Republican Party has, at least in part, shown themselves to be cowards, which means I for one have no hope. Somebody talk me off the ledge here, because the world's biggest conservative optimist is starting to feel hopeless.
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