Despite the strong words from Republican Leaders on not raising taxes, true fiscal Conservatives are dubious. And for good reason. We have all heard these promises to cut, not raise taxes and hold the line only to see the smoke and mirrors results of last minute, under the gun negotiations give the Democrats everything they wanted. $100 Billion turned to $3 Million before our very eyes as the Republicans caved to the ruinous plans of the high spending Democrats.
We are now watching the same process that gave us the great evaporating $100 Billion cuts play out once again as Republican Speaker John Boehner (Oh!) has already begun scaling back the size of the debt reduction he is willing to negotiate from $4 Trillion (over 10 years) to $2 Trillion. Ostensibly, this is to avoid a phony “default” crisis and avoid raising taxes – neither of which needs to happen if the Republicans had spines.
Even as unemployment rises again, making it abundantly clear that the Democrats Spending Spree has failed, instead of standing firm on an absolutely ridiculously low “demand” of $4 Trillion over 10 years – a paltry sum of only $400 Billion per year, Boehner is now willing to cut that in half. When you consider that President Obama’s proposed budget adds $1.6 Trillion to the National Debt, trimming $400 Billion is absolutely useless. And Boehner’s scheme to cut that amount in half is laughable.
And again, Obama and the Democrats want to soak the job producing sector with higher taxes. Conservatives are well aware that the uncertainty and already high tax burden on the top 2% of earners in the country is responsible for the anemic growth in jobs. When nearly half of Americans are now receiving government checks, and nearly that many pay absolutely no Federal Income Tax, it is clear that we cannot continue to soak the rapidly depleting wealth of others. Obama has run the country out of other people’s money.
Nearly half the country is not vested in America. They have no “skin” in the game because they pay no taxes. And these people are perfectly happy to demand more and more.
Taxes should not be raised until America’s leadership proves itself capable of living within their already copious income. And only when we achieve a budget and tax income balance should we consider a tax increase to pay off the National Debt. But making the top 2% pay for it is absolutely ridiculous and, since they already pay far more in taxes than the lower 98%, totally unfair. Punishing people for success is the wrong thing to do.
Lets do the math:
The US population is around 307 Million and the National Debt is now over $14.5 Trillion. (Here is a Debt Calculator.)
About 110 Million are considered Taxpayers, though not all of them actually pay Federal Income Tax.
The current debt share per taxpayer is nearly $130,000. The debt per citizen is $46,474.
If we saddle the top 2% of taxpayers (2.2 Million People) with paying this massive debt, their share is $6.6 Million EACH!
Not only is this unfair, the fact is, most of the top 2% are worth FAR LESS than $6.6 Million.
The numbers simply will not work out for the Democrat’s scheme. But trying to raise the taxes on those earning less than $250,000 is Obama’s sacred cow. It is his plan to put over half of Americans on the Government Payroll – mostly on government assistance. This will ensure enough votes to keep him in the White House. But is will not solve America’s debt problem. It will not solve America’s unemployment problem.
Unfortunately, Boehner’s half-assed $4 Trillion plan that is now Quarter-assed at $2 Trillion also has America’s slide into oblivion maintaining at full speed ahead.
Voters put Republicans in charge last year because Democrats were spending us into an abyss. Apparently, Boehner is happy to go on with the Speaker’s gavel and the perks that come with it while rubbing elbows with the elite and giving lip service to the rest of “subjects” in the U.S.
This is the battle Boehner was put in the Speaker’s Chair to win. And he plans to take a dive. This is more than sad. It is a travesty.
Boehner may not be crying at his latest disappointing move, but America should be in full tears.