And water is wet, the sun is hot and night is dark. As expected, the democrats, fresh from rolling the party of stupid into raising taxes on the most productive Americans, are coming back demanding even more money.
Why are they looking to “Raise more revenue” after the last money grab? Simple really. In the minds of the Progressive Liberal Democrats, all your money belongs to them, and they want it NOW. Here are a few details on what they want from the McClatchy Newspapers:
In case you thought there was no risk of your taxes going up again, think again. Washington isn’t done with you yet.
Democrats, led by President Barack Obama, want lawmakers to consider a fresh set of tax increases in the next several weeks when they discuss whether to cut spending.
The United States has a critical fiscal problem. The Democrats, with help from the RINO’s have bankrupted America. Finally, the Party of Stupid has realized that massive government spending has to stop. However, as I quoted yesterday, Obama refuses to accept that. In his Marxist mind, we need more spending, more government control and more taxes. Needless to say, the Party of Stupid has had enough of the SCoaMF’s budgeting skills.
Republicans oppose raising tax rates, especially after they just raised some of them for the first time in two decades in the New Year’s deal that extended most – but not all – of the expiring Bush tax cuts.
Senate Minority leader Mitch McConnell1 has said that there will be no more tax increases. Unlike King Putt, McConnell understands that you can’t keep going to the well. Eventually you run out of money to loot. However, Il Douche isn’t thinking about just raising rates again. No he wants to try something else.
But much of what Obama is talking about is raising tax revenue without actually raising tax rates. In Washington-speak, lawmakers will try to collect more tax money by closing tax loopholes, perhaps limiting popular tax deductions and to some degree changing the way citizens pay into the popular Medicare and Social Security programs.
Now what do they mean by “Closing loopholes?” It means things like canceling the deductions on home loans, Individual Retirement accounts, 401K’s, Health Savings Accounts and Flexible Savings accounts, Etc. Etc. Etc. In other words, raise the percentage of the money the government confiscates from people without actually raising the tax rates.
“The president believes, as Republicans have said they believe, that we need to reform our tax code, and that there are loopholes that are crying out to be closed that no longer serve the country, if they ever did, and that there are ways of capping deductions and reforming our tax code that can produce more revenue in a fair way that, again, does not burden the middle class, but asks the wealthiest to pay more,” White House spokesman Jay Carney said.
What the Minister of Propaganda isn’t saying is that the reforms people have been discussing also include a flat tax with a significantly lower rate then we have now. What Der Fubar wants is to end all the deductions and maintain, if not increase the current tax levels.
Raising tax revenues without raising tax rates could take several forms.
One proposal popular with economists is treating some portion of employer-provided health insurance as taxable income on a filer’s tax return, an idea proposed by Hillary Clinton and accepted by many Democrats during the 2008 campaign. If a health plan is valued at more than $14,000, for example, the sum above that could be treated as taxable income.
Another idea would be to limit how much mortgage interest, state taxes or charitable giving can be deducted from taxes by high-income earners. The New Year’s deal started phasing out some of the tax exemptions claimed by high-income earners and limiting their tax deductions. This could gain in popularity because tax rates remain unchanged and middle-income Americans would not be affected.
There is one small problem. You can take every single dime from people with over $200K in income and it still won’t pay for Obama’s drunken spending. To maintain or increase spending, which is what the Progressive Liberals want, you pretty much have to take everything from everyone. Of course, they don’t have any problem with confiscatory levels of taxation. In fact, their all in favor of it…for the little people that is. I can tell you right now, scaling back or killing the mortgage deduction will push a lot of homeowners who are just making it right into bankruptcy. It will also kill the housing market, which is still trying to recover from government meddling over the decades. However, it doesn’t look like the Republicans are in any mood to play the “Obama’s tax collection service” again.
“The tax issue is behind us,” McConnell told ABC News. “Now, the question is what are we going to do about the real problem. . . . Now it’s time to pivot and turn to the real issue, which is our spending addiction.”
Now, personally, I favor the Flat Tax. One rate for everyone, and getting rig of all the tax credits and most of the deductions. The deductions for the health and retirement accounts should stay in place since those are tax deferred systems rather then tax free.
On the budget side, I’m ruthless. If it isn’t in the Constitution as a duty of the Federal Government, then shut it down. You would balance the budget overnight. Of course, the worthless class, (That would be Obama voters mostly), will be tossed out into the street, but frankly, I don’t care any more. I’m not alone in this either, and more and more people are moving to the way I think. (Scary thought isn’t it?)
We could keep Social Security and Medicare, but should look at long term projects to phase it out entirely.
Of course, the States could pick up the slack on the social programs if they wanted to. Just look how well California, Illinois, New York and Maryland, just to name a few examples, have done. Now, the next “Fiscal cliff” is going to be the debt ceiling. Il Douche wants the congress to surrender their constitutional prerogative on raising or not raising it to Obama.
The reason for this is simple. Obama can avoid having to ask Congress to appropriate the money for his pet projects. He can just borrow it from China. (Or mint a few Platinum $1 Trillion Dollar coins) While the Progressive Liberal Democrats wouldn’t hesitate to hand over the power to Obama if they could, (Never mind the constitutionality of it), once Der Fubar started unlimited borrowing, the dollar’s value would crash, interest rates would skyrocket since no one would believe the United States had any intention of paying that money back. We would make Greece look like the height of fiscal responsibility in comparison.
No, no more “Secret Negotiations” and no more taxes. The time has come to start massive cutbacks. We can start by phasing out all these agencies that aren’t mandated in the constitution, such as the EPA, Labor Department, Health and Human Services, etc. Gutting them and repealing all those regulations would free up the private sector and allow them to flourish once again.
That won’t happen with the current morons on both sides of the aisle. It’s going to take a financial collapse and the application of large quantities of tar & feathers before the political class understands what needs to be done.
~The Angry Webmaster~