The democrats in recent weeks have continued to call tax deductions, "government expenses" and "federal benefits" to corporations and the wealthy. When did "not confiscating one's income" become and expense for government. Numbers do not lie but Liars do lie with figures and rhetoric.
Corporations pay taxes and then when they distribute income to management and employees, they also pay taxes. When corporations are not over taxed, they have the ability to reinvest in operations and to create new jobs. Government cannot create real jobs that create new products and provide future income subject to taxes. Government jobs are subject to government funding. Only a small portion is ever returned via taxes on employee earnings. The Obama Administration and Federal agencies have refused to get out of the way of business and industry and to stop killing private sector jobs. And every dollar government gives away to foreign countries and on "boondoggle" programs lost forever.
"Americans are set to face the highest tax burden in history!"
President Obama was scheduled to meet tomorrow - Sunday - with congressional leaders to resume talks on the debt limit. Primarily, it was a White House media effort to help control criticism of Obama's continued excessive time on the golf course, trips, campaigning, and other activities. Some were advocating that meeting would signal the start of “hard bargaining” after Thursday’s debt talks left the parties far apart.
House Speaker John Boehner (R-OH) released the following statement today regarding his withdrawal form the ongoing debt limit discussions with the White House: "Despite good-faith efforts to find common ground, the White House will not pursue a bigger debt reduction agreement without tax hikes. I believe the best approach may be to focus on producing a smaller measure, based on the cuts identified in the Biden-led negotiations, that still meets our call for spending reforms and cuts greater than the amount of any debt limit increase."
The Speaker was being nice in using the words "good faith efforts." In fact, Democrats have not shown such an effort. Their focus has been on promoting tax increases and promoting voter class warfare.
Abigail White posted on the Scribe today prior to the withdrawal announcement by Speaker Boehner the following comment on the planned Sunday meeting, "If that isn’t enough reason to keep Democrats from proposing tax increases, perhaps the ambiguity of our nation’s economic future is.
Americans are set to face the highest tax burden in history. Families will be hit by unprecedented taxation levels by 2020 without the extension of current tax rates. This means more economic stagnation and less prosperity.
The American Legislative Exchange Council has found that higher taxes, new spending, and more debt will deepen the financial crisis. If tax hikes are included in any sort of deal, it is only a matter of time before workers, employers and the entire nation are burdened by more than they can handle."
Take a look at the following chart:
- Cut spending to slash the deficit in half next year (requiring about $380 billion in spending cuts according to CBO)
- Cap spending so it aligns with average revenues (ratcheting quickly down to 18% of GDP from current 24%).
- Send a strong Balanced Budget Amendment to the states for ratification (with high hurdle for tax hikes and 18% of GDP spending cap).
Tags: Debt Reduction, Talks, White house, John Boehner, Speaker, President Obama, White house, Democrats, higher taxes, tax burden, history To share or post to your site, click on "Post Link". Please mention / link to the ARRA News Service. Thanks!
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