It seems their solution for solving our debt and deficit problems as a country is to raise taxes. They have proposed or championed during the ongoing debt-limit debate and negotiations some ridiculous ideas about how they think the deficit spending and the total debt can be addressed in this session of Congress.
Here are four proposals to increase taxes and a table showing the approximate amount of time each proposal might "plug" the federal budget deficit, projected in 2011 to be $1.48 trillion (or roughly $4.05 billion per day).
“The four tax increases Democrats have publicly or privately advanced in the deficit reduction debate would reduce the federal deficit by – at most – $40.35 billion a year, a little less than the United States currently borrows every 10 days.
“Even if fully implemented, and even in the unlikely event that these tax hikes do bring in their full projected amount, they will barely make a dent in the deficit, and almost none in a $14.3 trillion national debt.
“These are unserious deficit-reduction proposals -- but they are very serious jobs-reduction proposals. $40.35 billion is equal to roughly 69,000 average middle class jobs, which cost private businesses about $58,500 each to create.” (Memo from the Joint Economic Committee).
Do Democrats simply have a death wish? Do they think Americans are stupid? Other countries have figured it out, and America can't? I don't believe it.
They had better get serious soon. Everyone in Washington D.C., including Republicans like Orrin Hatch, have amassed this debt load for many, many years, and now it's time to dismantle the socialist entitlement programs that are really at fault.
Raising taxes just isn't going to do it. They're still playing the class warfare tune that expired a long time ago. If all you can do is get 9 days and 23 hours worth of benefit for all those tax increases on the wealthiest of Americans, better go back to the counting house and keep counting.
No comments:
Post a Comment