Truth

There was truth and there was untruth, and if you clung to the truth even against the whole world, you were not mad.

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Showing posts with label bank tax. Show all posts
Showing posts with label bank tax. Show all posts

Sunday, October 3, 2010

The Fundamentals of Nov 2nd, 2010

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Newsweek’s Ben Adler was aghast at the clause in the GOP’s Pledge to America that Republicans will provide a “citation of constitutional authority” for every proposed piece of legislation. “We have a mechanism for assessing the constitutionality of legislation, which is the independent judiciary,” Adler wrote. “An extraconstitutional attempt to limit the powers of Congress is dangerous even as a mere suggestion, and it constitutes an encroachment on the judiciary.”
A progressive blogger, meanwhile, writes in U.S. News & World Report that such talk of requiring constitutionality is “just plain wacky.”
Before we get to the historical niceties, a question:
Does anyone, anywhere, think legislators should vote for legislation they think is unconstitutional? Anyone? Anyone?
How about presidents? Should they sign such legislation into law?
Yet, according to this creepy logic, there’s no reason for congressmen to pass, obey or even consider the supreme law of the land. Re-impose slavery? Sure! Let’s see if we can catch the Supreme Court asleep at the switch. Nationalize the TV stations? Establish a king? Kill every first-born child? Why not? It ain’t unconstitutional until the Supreme Court says so!
Nationalize Health Care, sure, why not. Mandate that all citizens will have health care or else they will pay a fine (that is actually a tax but we don’t call it that except in court when we have to) or possibly go to jail.
Yeah, that’s the ticket!
Mandate that Companies must provide Health care or pay a fine (that is actually a tax but we don’t call it that except in court when we have to).
Whoops!, sorry the Democrats ALREADY DID THAT. :)
And of course, that means the president can’t veto legislation because it’s unconstitutional, because that’s apparently not his job. Wouldn’t want to “encroach” on the judiciary!
Especially, the judiciary we’ve been packing with Liberals for a generation or two.
Like suing a State of The Union, Arizona.
Get a Liberal judge to rule that if we want to ignore Border Security you can’t do anything about it! :)
Oh, and you’re a “racist” if you disagree with us. :)
Of course, reasonable people understand how absurd all of this is.
There’s nothing in the Constitution — nothing! — that says the Supreme Court is the final or sole arbiter of what is or is not constitutional.
But for Liberals, let’s just pass whatever the hell we want, when we want it, and if we can get a Liberal enough judge to agree we can do it, Go for it!
Nor is there anything in Marbury v. Madison, the Supreme Court case that famously established judicial review. Nor is there in Cooper v. Aaron, the 1958 case in which the court ruled that its findings are the law of the land.
George Washington vetoed an apportionment bill in 1792 because it was unconstitutional. What was he thinking? If only he had a Ben Adler around to tell him what a fool he was.
Andrew Jackson vetoed the reauthorization of the national bank in 1832 because he believed it was unconstitutional. He added at the time that, “It is as much the duty of the House of Representatives, of the Senate, and of the President to decide upon the constitutionality of any bill or resolution which may be presented to them for passage or approval as it is of the supreme judges when it may be brought before them for judicial decision.”
“Even the Supreme Court has never claimed that it is the only branch with the power or duty to interpret the Constitution,” says Jeff Sikkenga, a constitutional historian at Ashland University’s Ashbrook Center. “In fact, it has said that certain constitutional questions like war and peace are left to the political branches to decide.”
The debate over whether the courts are the final word on the Constitution is more than 200 years old. The debate over whether they are the sole arbiter of constitutionality is extremely recent and extremely silly.
But it’s also necessary because too many politicians — in both parties — have abdicated their most solemn duty: to support and defend the U.S. Constitution. George W. Bush signed campaign finance reform even though he thought much of it was unconstitutional. Nancy Pelosi thinks the Constitution has as much relevance as a pet rock. When asked if the health-care bill was Constitutional, her perpetually wide-open eyes grew perceptibly wider as she incredulously asked, “Are you serious?”
The real issue is quite simple. If more politicians were faithful to the Constitution, the government would be restrained. And restraining government is “weird,” “wacky” and “dangerous” to so many liberals today. (Jonah Goldberg).
And people who propose it, The Tea Party Movement, are “racists”, “stupid”, “morons” ,”idiots” ,”dumb”,”ignorant”,”fools”.
Fascinating. :)


A Reminder:
Unless something totally unforeseen occurs, Democrats are poised to take a real beating in November. Their response to the impending disaster has run the gamut. Speaker of the House Nancy Pelosi is in denial: “One thing I know for sure is that Democrats will retain their majority in the House of Representatives.” Massachusetts Senator John Kerry is condescending: “We have an electorate that doesn’t always pay that much attention to what’s going on, so people are influenced by a simple slogan rather than the facts or the truth or what’s happening.” President Obama is angry: “It is inexcusable for any Democrat or progressive right now to stand on the sidelines in this midterm election.” Why is the electorate ready to kick Democrats to the curb? Here’s why:
* An “unstimulated” economy. The original Mother of All Stimulus packages, $787 billion dollars, quickly grew to an astounding $865 billion. It wasn’t enough. Congress pumped out another $26 billion in “supplemental” stimulus in August. The results? Unemployment in the private sector remains well above the eight percent Democrats promised, even as public sector workers who support Democrats were rewarded; our Democratically-controlled Congress has amassed more debt in the last four years than nearly the previous two hundred and thirty combined; the Keynesian economic model Democrats stand by is a colossal failure; the Summer of Recovery was a propaganda fiasco.
* The health care bill. The absolute epitome of ideological, public-be-damned arrogance. A horrendous compendium of bribes, exploding bureaucracy, runaway costs, written in secret and unread by those who passed it. It includes a mandate, likely un-Constitutional, forcing people to buy health insurance or pay a fine. The same administration which originally claimed the commerce clause of the Constitution made such a fine possible is now saying that the federal governments’s “power to tax” justifies it. Irrelevant. 60% of Americans want this monstrosity repealed, ASAP.
* The federal lawsuit against the state of Arizona. Again, it’s the arrogance, stupid. Despite all the hectoring from Democrats and the Obama administration about racist this, and xenophobic that, fair-minded Americans recognized four things: people have a right to protect their life and property, and if the federal government can’t or won’t do it, they have a right to do it themselves; the idea that anyone opposing the “rights” of illegal aliens is a bigot is nonsense on stilts; the ruling class in Washington, D.C. is holding genuine border control hostage to “comprehensive reform;” the glaring double-standard of suing Arizona for violating federal immigration statues, even as the feds turn a blind eye to hundreds of “sanctuary cities” with illegal protection directives unquestionably in conflict with federal law.
* The demonization of the Tea Party movement. Take your pick: teabaggers, racists, angry white men, fringe elements, bigots, Astro-turfers, etc. etc. Democrats and the media have tried every one, and every one has been a miserable failure for one overwhelmingly simple reason: decent Americans know they’re decent, and getting insulted by Democrats running the country into the ground has only stiffened their resolve. Progressives want to demonize people who believe in smaller government, fiscal responsibility and a desire to return to Constitutional principles? Why not attack people who believe in guns, and religion too? Oh wait. The president already did that as well.
* A hopelessly compromised media. Air America tanked, CNN is tanking, and ABC, NBC and CBS news programs have been shedding viewers at historically unprecedented rates—even as Fox and the Wall Street Journal prosper. Americans don’t mind people in the media expressing their opinions, as long as they’re characterized as opinions, but they seethe when such opinions are portrayed as “hard news.” They get even angrier when certain stories are “omitted” by those same organizations, especially when Americans recognize such omissions are calculated to protect the progressive agenda. I wonder if it occurs to either Democrats or their media water-carriers that a majority Americans may savor whacking both groups in November. Depressed looks on the faces of Nancy Pelosi and Katie Couric? In theater circles, that’s known as a “two-fer.”
* The Ground Zero mosque. Yet another reminder of the contempt progressives and their media enablers have for ordinary Americans who had the “temerity” to allow their feelings to be known. Despite every attempt to characterize these Americans as Islamo-phobic bigots, the public wasn’t buying, again for one overwhelmingly simple reason: decent Americans once again demonstrated their decency by separating the legality of the project from the appropriateness of it.
* The complete disconnect between the First Family and ordinary Americans. The golfing, the soirees, and the high-priced vacations have created the perception that we are living through another “let them eat cake” moment in history. On Tuesday, the president called the public schools in Washington, D.C. a “‘struggling’ system that doesn’t measure up to the needs of first daughters, Sasha and Malia.” Those would be the same public schools Congressional Democrats tossed 3,300 low-income kids back into when they killed funding for vouchers that had freed those kids from D.C.’s educational ghetto. The First Lady is hectoring Americans to eat healthier. Perhaps more Americans would if they could afford to: the Bureau of Labor Statistics (BLS) stated in their Producer Price Index that the price of food increased 2.4% for March 2010. That’s the biggest increase in almost 30 years.
* The war on terror. A politically correct contingency operation against unnamed insurgents with a specific draw-down date? Democrats once again prove that all the talk about Afghanistan being the “good war” was complete rubbish. They want out, and victory—along with the heroic efforts of our men and women in harm’s way—be damned. Once again: has America ever fought another war where they knew the exact location of the enemy, had the ability to inflict possibly irreparable damage on them—and decided to split the difference instead? If you answered “Vietnam,” another progressively-instigated catastrophe resulting in the deaths of fifty-eight thousand American soldiers and three million innocent Asians, go to the head of the class. And when is that civilian trial of the 9/11 perpetrators scheduled to begin?
* Czars and nationalization. The Obama administration and Congressional Democrats may bristle when Americans call them socialists, but the nationalization of banks, car and insurance companies, student loans and healthcare sure isn’t free-market capitalism. Neither is wiping out oil jobs in Louisiana with a government-mandated ban on offshore drilling—after the feds completely bungled their role in cleaning up the spill which engendered it. Unelected czars who answer to no one but the president, along with out-of-control government agencies such as the EPA have made it clear to many Americans that this administration often considers Congress a completely unnecessary component of governance, especially if they don’t kowtow to the president’s agenda.
* “Unexceptional” America. Progressive contempt for the values and traditions which make this the greatest country on earth can no longer be disguised. An American president who “believe(s) in American exceptionalism, just as I suspect that the Brits believe in British exceptionalism and the Greeks believe in Greek exceptionalism” has made it plain that this is not a great nation which needs tweaking, but a fundamentally flawed one needing a complete progressive make-over. Once one understands this basic premise, everything this administration and Democratically-controlled Congress does makes sense. All of it centers around the ridiculous premise that America owes the world an apology for any number of shortcomings, many of which can only be alleviated by government-mandated “social justice.” That would be the same social justice which demanded—and still demands—that Americans manifestly unqualified to own homes be given mortgages, regardless.
Unknown to the majority of Americans, this precise mindset was part of the financial “reform” bill which also requires banks to lend a certain percentage of capital to minority-owned businesses, even if it means lowering their lending standards. Apparently progressives won’t be satisfied with their odious social-engineering schemes until every sector of the American economy bears a striking resemblance to the housing sector. So far, Americans support financial reform because it’s been framed as “Main Street versus “Wall Street.” It’s not. Like every other initiative undertaken by this Congress and this administration, it’s the elevation of irresponsible and dishonest Americans over those willing to accept the consequences of their own behavior.
There you have it. Democratic control for four years in Congress, and two in the White House has been exactly what many predicted: an ideologically-driven disaster of epic proportions. For years, progressives obfuscated their true intentions, because even they knew most Americans couldn’t stomach them. The elections of 2006 and 2008 changed everything. Progressives bought into their own hype, believing they had pulled off a multi-generational transformation of the American mindset. As a result, they showed Americans their true colors: unbridled arrogance, utter contempt for the average citizen’s intellect, and a ham-fisted, never let a crisis go to waste determination to bend the electorate to their will, using government as a club.
That’s why they’re going down in November. And the most satisfying aspect of the whole scenario is this: despite every attempt they’ve made to blame anyone and everyone else for their problems, they brought it on themselves. (Arnold Ahlert)
And don’t forget the LARGEST TAX INCREASE IN AMERICAN HISTORY during a recession (or “jobless recovery”) that Congress was too chicken to vote on stopping.

But don’t worry, it’s all those damn Republican’s fault!!
And George W. Bush.
The Banks.
CEOs
Corporate America.
Wall Street.
Teabaggers.
The Right Wingers.
Christians.
“The Rich”
FOX News
Rupert Murdoch (who owns Fox)
Talk Radio
Did I leave anyone out?
Oh, yeah, DEMOCRATS! :)

Monday, September 6, 2010

Insanity

Political Cartoon by Michael Ramirez
The definition of insanity is doing the same things the same way over and over again, expecting a different outcome.
From BarackObama.com (2009):


  • Get the economy back on track:

    President Obama signed legislation to jumpstart our economy, the American Recovery and Reinvestment Act, less than a month after his inauguration. The plan will save or create 3.5 million new jobs, make critical investments in our infrastructure and give 95 percent of working Americans a tax cut.
Barack Sept 2010:
WASHINGTON (AP) – Vowing to find new ways to stimulate the sputtering economy, President Barack Obama will call for long-term investments in the nation’s roads, railways and runways that would cost at least $50 billion.
The infrastructure investments are one part of a package of targeted proposals the White House is expected to announce in hopes of jump-starting the economy ahead of the November election. Obama will outline the infrastructure proposal Monday at a Labor Day event in Milwaukee.
While the proposal calls for investments over six years, the White House said spending would be front-loaded with an initial $50 billion to help create jobs in the near future.
The goals of the infrastructure plan include: rebuilding 150,000 miles of roads; constructing and maintaining 4,000 miles of railways, enough to go coast-to-coast; and rehabilitating or reconstructing 150 miles of airport runways, while also installing a new air navigation system designed to reduce travel times and delays.
Obama will also call for the creation of a permanent infrastructure bank that would focus on funding national and regional infrastructure projects.
Correct me if I’m wrong, but doesn’t this new “stimulus” that can’t be called “stimulus” sound amazingly similar to the one that has already failed miserably?
Officials said this infrastructure package differs from the stimulus because it’s aimed at long-term growth, while still focusing on creating jobs in the short-term.
Wary of the public’s concern over rising deficits, the administration insists a second stimulus plan, similar to last year’s $814 billion bill, is not in the works.
It just sounds like it. :)

But if we change the name in a very Orwellian fashion this failed duck is not a duck so this stimulus is not a stimulus. :)
And a permanent Bank of The United States to boot. A new cash cow. After all, who could be against an “infrastructure” bank?
Me. :)
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LET THEM EAT CREDIT!
It’s interesting why behavior that we readily recognize, on an individual level, as undesirable, we routinely promote and accept as government and social policy.
What rational person would suggest that being detached from reality is a good thing?
Or what rational person does not want good information when making important decisions?
But increasingly we live in an environment, created by government driven policies, in which the picture of reality we have is false, and the information available to us for making routine decisions is distorted.
University of Chicago economist Raghuram Rajan demonstrates this problem in what he calls “let them eat credit.”
According to Rajan, we have a big problem at the lower end of our income spectrum. Low end incomes not only are languishing, but adjusted for inflation, are dropping. From 2002 to 2008, real wages for the top ten percent of earners increased, but for everyone else they dropped.
What to do?
Rajan points out that the real culprit is education. As the economy gets increasingly sophisticated, the penalty for lack of education gets greater. But we’re failing to deliver this needed education to lower income Americans.
Core to the problem, Rajan argues, is that politicians are more interested in being popular than solving problems. They’d rather offer free money in the form of subsidies and easy credit to low wage earners than take on real problems.
Programs like subsidized mortgages, which contributed much to the housing bubble, make life look artificially cheap and reduce the sense of immediacy regarding the need to get educated.
The rate of U.S. home ownership increased from 1995 to 2005 from 65% to 69%. Over the same period of time home prices doubled, before everything fell apart.
As reported by Peter Wallison of the American Enterprise Institute, in 1992 government backed lending enterprises, Fannie Mae and Freddie Mac, were directed to “promote affordable housing” and to do this by enabling down payments of less than 5% and approving credit for borrowers with shaky credit history.
Through the 1990s and 2000s HUD continued to push Fannie and Freddie to relax standards, requiring them, according to Wallison, “to buy increasing numbers of subprime and other risky mortgages.”
The faulty assumption behind all this, which we’ve learned the hard way, is that politicians think they can use taxpayers and the money printing press as a bottomless pit of funds to promote government schemes.
Many low income families, bought homes they couldn’t afford. Not just because of lying mortgage brokers, but because the whole artificial reality that distorted prices and credit was created by government policy. (Now the Government owns 80% of Fannie & Freddie and around 70-80% of all mortgages are written under Fannie and Freddie  so has anything been learned or are we just insane?)
It’s hard to find a place to turn where we don’t deal with a reality distorted by government.
We’re all concerned about runaway costs of health care and health insurance. What’s behind it?
In 1960, 50% of our health expenditures were out of pocket and 50% were OPM (Other People’s Money – Insurance, Employers, Government).
Today, 12% of our health care expenditures are out of pocket and 88% are Other People’s Money.
So what was the solution: National Health Care! Health Care run by the Government! :(
According to Harvard economist Robert Barro, the current persistent high unemployment rate, helping drag out this recession, is traceable to the unprecedented extension of unemployment benefits from the normal 26 weeks to almost two years. The argument that we are currently in unchartered territory and must do the unusual is not true.
Barro points out that unemployment in the 1982 recession reached 10.8% – higher than today.
The perhaps not so funny joke that neurotics build castles in the air and psychotics move into them is worth thinking about.
The ability to succeed is predicated on both freedom and having good information on which to make decisions.
As we distort, through government policies, reality around us, and citizens increasingly get bad information for matters about which they have important decisions to make, we’re not going to recover. (Star Parker)
Political Cartoon by Eric Allie
I think one could argue, successfully, that Government, especially this one, is not interested in recovery- not really.
Because recovery mean less people dependent on them.
Sure they want to appear to give a crap because appearing not to or looking like you’re failing is also not desired.
So you have to look and sound like you’re succeeding and give every that false sense of reality that works for you.
Reality is an overrated and under-appreciated, well, reality. :)
One Question: Hows that “War on Poverty” that was started over 40 years ago going exactly? Won yet? :)

Sunday, June 27, 2010

You Can Lie with Spin

Government these days isn’t about making the hard choices. It’s about making the choice that will sell, either to “your base” (thus ignoring everyone else) or by spin (which is inevitably deceitful) because it will benefit you or one of your “sides” interests.
They write 2000+ bills they won’t read. But expect everyone to follow.
They can’t be bothered to read SB1070, at a minimalist 16 pages.
Much easier to just play on people fears, anxiety,biases, and divide and conquer.
And when that doesn’t work, just lie.
Then there’s the politician favorite phrase these days, “I misspoke”.
No, we have it on tape or audio.
But they “misspoke”.
Then you get stuff like this:
President Barack Obama, fresh from a win on a sweeping overhaul of Wall Street regulations, on Saturday urged Congress to take up his proposal for a $90 billion, 10-year tax on banks as the next step in reform.
Obama wants to slap a 0.15 percent tax on the liabilities of the biggest U.S. financial institutions to recoup the costs to taxpayers of the financial bailout.
“We need to impose a fee on the banks that were the biggest beneficiaries of taxpayer assistance at the height of our financial crisis — so we can recover every dime of taxpayer money,” Obama said in his weekly radio and Internet address.
He does realize that a tax on business is passed onto the consumer right?
He doesn’t care. It sounds good.
It plays to his anti-capitalist base and the “wall street” anger that has been ginned up.
The fact that Congress in the 1990′s set up the roots of this problem and the Government agency in charge of monitoring them were too busy with Porn is not a matter for discussion.
And one of the biggest players in this whole mess, Fannie and Freddie were and are  ignored should be a sign.
Alinsky, Rules for Radicals:
Rule 5: Ridicule is man’s most potent weapon. It’s hard to counterattack ridicule, and it infuriates the opposition, which then reacts to your advantage.

Rule 6: A good tactic is one your people enjoy. “If your people aren’t having a ball doing it, there is something very wrong with the tactic.”
Rule 9: The threat is more terrifying than the thing itself.
Rule 11: Pick the target, freeze it, personalize it, polarize it.
Daniel Foster at the conservative National Review Online argues that the bill is filled with unnecessary or useless measures.
“There is much in the bill that has nothing to do with ‘Wall Street’ or the root causes of the crisis (i.e. debit card and interchange fee rules),” Foster writes. “There is little in it that will ‘reform’ too big to fail or change the incentives for the kind of behavior that led to the crisis (implicit subsidies and bailout authority galore); and it was a ‘compromise’ mostly between Democrats.”

Then you have VP Joe Biden, a one man gaffe machine:
VP Biden ran into an ice cream shot owner (in his shop) who aked him to lower the taxes and he called the guy a “smartass”
And it gets better:
Vice President Joe Biden gave a stark assessment of the economy Friday, telling an audience of supporters, “there’s no possibility to restore 8 million jobs lost in the Great Recession.”

Appearing at a fundraiser with Sen. Russ Feingold (D-Wisc.) in Milwaukee, the vice president remarked that by the time he and President Obama took office in 2008, the gross domestic product had shrunk and hundreds of thousands of jobs had been lost.
“We inherited a godawful mess,” he said, adding there was “no way to regenerate $3 trillion that was lost. Not misplaced, lost.” (CBS)
Andrew Langer, The Daily Caller:

Ultimately, with election victory comes the responsibility of governance. That responsibility requires grappling with the excruciating problem of making tough choices. This is something all elected officials face at some time or another, and it is the caveat for anyone interested in pursuing a political career. Problems ensue when political leaders abdicate their responsibilities—and a case can be made that such abdication is an abuse of the public trust. And when it comes to domestic policy, there is no more important issue than the creation of a government’s annual budget.
For the past three years, there has been a disturbing trend of federal legislators essentially punting their responsibilities—whether it comes to oversight of federal agencies, understanding the constitutional implications of legislation, or, at its most basic, actually reading legislation being voted upon. This seemingly fundamental misunderstanding of the role of legislators in our republic has resulted in an unprecedented outpouring of public ire, from Tea Parties to very public “dressing downs” of congressmen at Town Hall meetings.
Congress should have gotten the message, yet as proof they are deaf to their constituencies, leaders in the House have recently done—or not done—something stunning. Congressional leaders have decided that they are unable to even propose, let alone pass, a federal budget this year.
They have ostensibly done this while they await the decision of President Obama’s “Deficit Commission,” a convenient fiction created to give cowardly Democrats the “cover” necessary for a tax increase following the 2010 elections. It is not their fault, they will argue when they eventually do propose a budget. They were forced to do this because of the recommendations of the commission.
It is an excuse that doesn’t hold water. Congress has the responsibility for the budget, which means that the majority party has the responsibility for getting it prepared and shepherded through the system and passed. It is, in fact, statutorily mandated. But without any consequences, the law has about as much real power as a Las Vegas illusionist: it’s great theatre, but it really doesn’t do what it claims.
The problem is that more and more government entities (including state and local governments) are shifting these powers to unelected commissions. While some might call it mere “punting”—moving the power to some other group of individuals—it’s more accurately a form of political surrender; the functional equivalent of throwing in the towel because, well, the job is just too darn hard, and, in an election cycle, these guys want the title but they don’t want the responsibilities to go along with it.
Spending and size of government are the two top issues going into this fall election, with healthcare reform playing a role in both. Voters not only are fed up with out-of-control spending, they’re genuinely fearful of the potential economic instability runaway spending creates. Controlling that spending is infinitely more complicated when government officials refuse to release a budget detailing just how that money is being spent. It was, interestingly enough, the continued secrecy of national budgets that brought Gorbachev to power as the Soviet Union’s last premier—and opening up those budgets to greater scrutiny one of the hallmarks of his Perestroika program. How ironic, then, that more than two decades later, America is moving in that direction—an entirely wrong direction—when it comes to budgets.
Americans are tired of cowardly politicians. They are tired of being lied to, of having polls say one thing and do quite the opposite. They are hungry for real leaders—leaders who mean what they say and say what they mean. Leaders who are willing to make the tough choices, like Gov. Chris Christie in New Jersey.
Whether it’s trying to shift responsibility or surrendering to the difficulties of governance, either way the result is the same: Americans’ government grows larger without anyone exercising fiscal restraint. Political leaders raise taxes to try and pay for their inability to control spending. Overall we all suffer. Unfortunately, in this case, waiting until January 2011 might just be too late.
  • Entitlements lead to Tax Increases  
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  • The deficit will reach a stunning $1.5 trillion this year. Even after the recession ends, trillion-dollar deficits will persist, causing the national debt to double by 2020.
  • Excessive spending—not low revenues—accounts for 92% of deficits by 2014 and 100% by 2017.
  • Solutions that “split the difference” between tax hikes and spending cuts doesn’t really address the source of the problem: spending.
  • Social Security, Medicare, Medicaid, and interest costs will surge by nearly $2 trillion by 2020. By comparison, the cost of extending the 2001 and 2003 tax cuts is 85% less at $404 billion.
Tax Increases Are Not the Solution
  • Raising federal income taxes to pay for entitlement spending would require rates to double by 2050 and continue to rise thereafter.
  • Balancing the budget with tax increases alone would increase the tax burden from an average of 18% of the economy to 30% by 2055.
  • Layering on a value added tax (VAT)—a new national sales tax—would create a huge drag on the economy and family budgets.
  • A VAT would cause the price of everything to rise by 15–20%. By 2019, 44 cents of every dollar would go to the federal government, compared to 15 cents today.
Tax Hikes Have Harmful Economic Consequences

  • Tax increases take money from families and businesses, lowering savings and investment and killing jobs. This is especially harmful in the current economic climate.
  • Future generations—who can’t yet vote—will be stuck paying the higher taxes and inheriting lower standards of living that go with it.
  • Any new federal income taxes would be on top of state and local taxes, such as income, property, excise, fuel, and sales taxes.
  • A VAT would become a cash cow for Congress to fund new spending and open the door for continued, stealthy rate increases.
  • Twenty of 29 developed economies with a VAT have increased rates since passage. Denmark leads, having increased their VAT from 15 to 25% since it was enacted.
Congress has been mismanaging taxpayer dollars for decades. Can Washington really be trusted to use new revenues to close the deficit gap, or would they just spend the money on new programs? (heritage.org)

I would say no.
When you can just “misspeak” or “The previous administration…” or “the party of no” or just demonize someone else, why bother.
It is much easier to spend than to be responsible.
After all, it’s not the politician’s money.
It’s yours.
And you’ll always be there for them so why should they worry. :)