Posted in Congress, Constitution, Economy, Uncategorized, tagged borrowing, Constitution, debt, democrats, federal, government, Obama, rich, tax on September 13, 2011|
Leave a Comment »
Tax the rich! The rich must pay their fair share! No more private jets! We keep hearing these refrains from our President and others on the left. Is our debt problem caused by the rich? Is our deficit problem caused by the rich? Is our spending problem caused by the rich. Recently, I happened upon an interview of a gentleman named Robert Frank. He wrote a book call “Richistan”.
It seems that he took a pencil to paper to calculate the affect on our deficit and debt “taxing the rich”to solve our problem of spending would have. His calculation is stunning and would suggest that our President and the left need to break out their calculators – their solution simply does not work. I have always believed that the left attended the voodoo school of economics and maybe I am correct. Really, the far left progressives are not as much concerned about economics as they are about insuring that the few dictate to the many, how to live, how to work, and how to play – economics and facts just get in their way.
- In the interview, Mr. Frank was asked “If we reverse the Bush tax cuts would that solve our problem.
- His answer: this would yield $100B annually against our $1.65T annual deficit.
- What if we taxed all those folks making $250,000 annually and up at a 100% tax rate – take all their earnings?
- Answer: this would yield $900B annually, but would still leave us short of the $1.65T annual deficit.
- What if we confiscated all the wealth of the Forbes list of wealthy Americans?
- Answer: This would net $1.6T and would solve the deficit for only one year. (deficit, under our spending ways is annual)
- How about if we were to end that corporate jet depreciation?
- Answer: This would yield a couple billion against a $1.65T deficit.
We owe more than $14 Trillion and add to that debt at the rate of $1.65 Trillion annually. We are increasing our debt at nearly 12% per year. When will the reckless spending end? We need to end the spending before we have any hope of lowering our debt. To lower our debt we need a surplus every year and not a $1.65T deficit. In Washington they are wringing their hands over proposals that might yield $2Trillion over ten years. They do the Irish Jig if they achieve a 1% cut from the spending growth rate. These “great” plans will not solve our annual deficit. More taxes will not solve our deficit. Only sustained substantial spending cuts are the answer.
We, the federal government, should be taking from the economy – the taxpayers – just enough to provide the basic obligations of the federal government as found in the Constitution.
Read Full Post »
Recently the Democratic leadership in the House of Representatives sought to move a global warming bill – a 900 page bill – that has not been read or digested by any legislator, out of committee and to the full House for a vote. Congressman Henry Waxman, Democrat, the committee chairman, acknowledged publicly that he did not fully understand what was in the bill. He simply wanted to move the bill out of committee and to the House for a vote. At 900 pages, this an enormous bill covering intricate “cap and trade” and other environmental regulations.
“Cap and trade” potentially represents a radical change in the cost to the people of this country of our industrial infrastructure and power generation. This bill has the potential to devastate our economy beyond the economy’s current volatility and yet no one person really knows what is in it. What makes this plan even more flagrant is the cavalier attitude and approach by the Democratic leadership on passage of this bill.
When the committee Republicans were insisting that the bill be read aloud – their right under our Congressional procedures – Chairman Waxman hired a speed reader for the clerk’s staff and threatened to have the entire bill read by the speed reader. Remember, speed readers are those folks no one can understand and are found in comedy routines. Are our legislators this arrogant and whimsical about how they represent us in Congress? Instead of taking bill content knowledge seriously, the Democrats just want to pass an ideologically radical, economically risky 900 page bill without any one legislator knowing what is in it.
Don’t we as citizens deserve more? When we elect someone to Congress, we expect them to represent us on matters of legislation. We don’t expect our legislators to abdicate learning about bills before them so they can make a prudent and intelligent vote. If they are not going to bother learning what is in a bill, then we can either use a dice roll or hire chimps to vote. Hiring a speed reader is not a funny or laughable matter. It is an arrogant abuse of power and a mockery of our constitutional republic. Just how many bills will these legislators vote on without reading? This flagrant approach to bills started with the unread $770B stimulus package. We deserve better.
Read Full Post »
Posted in broken government, The Political Process, tagged Congress, constitutional amendment, democrats, earmarks, pelosi, republicans, Senate, seventeenth amendment on May 16, 2009|
2 Comments »
I have had enough with the Congress, both Democrat and Republican – the lies and half truths by Dodd, Rangel, Pelosi, and Frank, feigned indignation from Republican leadership, and on and on. Take a good look and you will see that the snake oil salesmen and women of the world have determined that Congress is the best gig in town. Yes there are a few patriots in Congress, but the majority only care about staying in Congress and retiring rich.
I have had enough from the Bush and Obama administrations – each administration with its own gross degree of hypocrisy. Does anyone really think we can spend our way out of debt? Does anyone really think that the push for cap and trade is not a tax? Does anyone really think that either administration really cared or cares about the future of the American people – we know they cared or care about the future of their ideology, but what about the future of the American people? Main stream America is an afterthought to these parties. I don’t mean sending stimulus checks – I do mean the overall health of this nation. All we seem to believe in is short term appeasement of the voter in exchange for votes. We use earmarks to gain campaign funds – how wrong is that? Main stream America has been ignored by both parties, in favor of both right and left wing zealots and the progressives from both parties – oh and let’s not forget those very uber rich who are now buying our Congress and perhaps the presidency – you know – the George Soros types through tentacled organizations, with their own agenda. Who do we blame? Us, that’s who – not the U.S., but the people who are simply not engaged with their government. Our government is no longer of the people and by the people. It is now of the fringe and by the fringe – the 12% on each side. Too many Americans are just interested in what is in it for them. Too many Americans know who was thrown off American Idol, but not who the Speaker of the House is – yet they vote.
Unless and until we begin to care enough about our own future and how much the government should play in that future, we will continue down the path of letting the fringe of America – from each party – be in charge. The Federal Government is out of control and has been out of control for nearly a dozen years. In fact, we could say the Federal Government has been out of control since the seventeenth amendment – that was when the states abdicated their constitutional role of watchdog of the federal government. Look it up.
Had enough? If so, then do something about it. Start by finding good people running for state office or in state office and get behind them. Likely they have not been corrupted and if you find really good patriots to support, likely they will not be corrupted. Push for the states to take back the watchdog role of the federal government. Push for the states to control the federal government. Sit on your hands and you will get what you deserve – a non-functioning nanny state, run by the fringe in power. Soon they will tell you how to eat, drink, rear your children, and how to live, or are they already doing that? They can’t help themselves because they believe they are much smarter than you.
Read Full Post »