Friday, July 01, 2011

Increasing Revenues means Raising Taxes in any ones language

Dear friends and Readers for the first time since 2006 I will be taking some extended time off. I plan to return July 22nd, 2011. Thank you for your continued loyalty I hope to serve you again soon. --Alaphiah
The President wants the debt ceiling raised so that Democrats can do what they do best, spend money.

It's not like Democrats didn’t have the opportunity to attack the fiscal crisis that they “inherited.” The president entered office knowing that the U.S. was broke. In fact, the prudent thing would have been to add as little government and fiscal commitments as possible and work on deficit reduction.

However, Democrats didn’t do that. What the Democrats did instead was irresponsibly push through the most costliest and unprecedented trillion dollar spending spree in the history of the United States on their Progressive social agenda.

Republicans, in the beginning of 2008, where numerically unable to stop the Democrat majority from forcing the policies of Obamacare, the Automobile takeover and the bank bailouts through Congress. As a result, in 2010 the American people elected Republicans to put a finger in the dike of Democrat spending an apparent effort to ward off the collapse of America’s finances and the consequences of uncontrolled Democrat spending.

In a fact check of the president’s tantrum, which he threw because Republicans are doing what the American people elected them to do, Glenn Kessler rates the President’s statement that Republicans are attempting to protect millionaires and billionaire from tax increases. Mr. Kessler said that statement is two "Pinocchios" false!

We realize the symbolic value of things like corporate jets, particularly when Republicans appear to be refusing to accept even a single dollar of additional revenue, but Obama is misleading when he suggests that closing this loophole would make much of a dent in the federal budget. He also should made clear that he would like to raise taxes on people making more than $250,000, rather than just “millionaires and billionaires.”—Glenn Kessler

Kessler also warns that when the president says millionaires and billionaires he is really speaking about raising taxes on people making $250,000 a year, which is not exactly a millionaire or billionaire. (see article)

What is important to remember is that when the president blames Republicans for the crisis, which he now finds himself. He is the one who when asked in 2009 at the beginning of his presidency where America was going to get money to pay for his social agenda and he said, “We’re out of money now!” (see 2:10min video)

When the president excoriates Republicans for not being willing to raise taxes on millionaire and billionaire just remember that the president is actually speaking of raising taxes on those who make $250,000 a year. In addition, had Democrats not push through their trillion dollars social agenda and instead worked on cutting spending and reducing the deficit there would be a mutual willingness to work on America’s fiscal problems instead of the poison well of partisanship that the president and leaders in the Democrat Party has created.

Republicans are right in this case. Democrats need to reverse all of the social spending and Corporate entitlements that they have put in place for their friends before there is any talk about increasing taxes or raising the debt ceiling.

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