Thursday, October 01, 2009

"Obama's not-so-secret plan to raise taxes"

Which article includes this:
Obama’s campaign promise to not raise taxes on households making less than $250,000 a year was always considered a joke here inside the Beltway. It’s the economic “consensus” — and this was true even before the financial meltdown and recession — that rising entitlement costs would eventually mean a higher tax burden for the American people.

Maybe it was a joke inside the campaign, too. Since being elected, Obama has raised cigarette taxes and has advocated raising healthcare taxes, energy and small business taxes, in addition to corporate taxes. What’s more, economic advisers like Larry Summers seem eager to get rid of all the Bush tax cuts, not just those on so-called wealthy Americans.
Liberals love the idea of a VAT because it’s, well, so European — also because it does raise tons of revenue to expand government. And that is what Obama wants: more revenue to pay for bigger government. Is a VAT better than the soak-the-rich approach favored by Democrats such as Nancy Pelosi and Charlie Rangel? Sure. Of course, the concern is that a VAT would be in addition to new soak-the-rich taxes.
(Of course it would; can you see Obama and the Democrats actually getting rid of a tax?)
See, even after the recession, there might be a 6 percentage point difference between what Uncle Sam spends as a percentage of GDP and what it takes in. Liberals like Krugman have no problem with making up that difference purely through higher taxes, even though that translates into raising the national tax burden by at least a third. And that, even though such a massive hike might well have a crushing effect on growth

Think of your taxes going up by 'at least a third'. Think of how that would screw with things. And think about the fact that so many Democrats(and some RHINOs) have no problem with that.

1 comment:

Anonymous said...

I have some friends who are good gardeners and I live on a 15,000 sq ft lot with ground water two feet down. Next year we're share cropping with them. I'll provide the ground, water, rototiller, and seed, they'll do the work I can't. We've already begun composting. Part of my yard is not arable, but will work well for rabbit hutches. Rabbits will produce over four times as much meat per dollar of feed than cattle. A bonus is that they can be butchered as needed or in larger lots and the meat frozen. Their droppings are very good fertilizer. I have a mini machine shop and they know people who need things made. I'm also a retired boat builder with a bad tooth. My dentist has a boat with a bad plank. What we're doing is starting a fledgling barter system. No cash, no paper trail. I bet this starts up all over the country.

F**k Odumbo and the spavined nanny statist nag he rode in on.

Gerry N.