"Everything is on the table." Sounds familiar, right? That is what we've been told when it comes to PrezBo's deficit reduction commission. But if you are a Democrat, "everything" principally applies to tax increases on the evil, disgusting, crooked, undeserving filthy rich, and perhaps even a tax increase in the form of a VAT tax (which will be billed as a "deficit reduction sales tax").
What is another line that sounds familiar? How about, "We can't afford tax cuts for millionaires and billionaires." How many times have we heard THAT line over the past few weeks. Some Democrats think that line is working so well they've even edited it to leave out the "millionaires" part and are limiting it to "billionaires." They've further modified their class warfare script to include the idea that it's not just a tax cut, it's "$100,000 checks for billionaires." Democrats will go to any length to step up class envy and class warfare in this country. This is because they know that most people who are envious of or hate those with considerably more money than they have will most certainly vote Democrat. But when it comes to "affording" these tax cuts, remember that we are really talking about tax INCREASES on the rich. Democrats want to increase taxes. Got it?
We're told that increasing these taxes will lead us on a path toward eliminating our deficit. That's the Democrat argument. How many of you actually believe that? And just how many of you actually believe that if we increase taxes, thereby increasing the amount of money that the federal government collects, we will then use that money to apply it toward deficit reduction?
Before you answer that, perhaps I can share a little nugget of information with you. I'll try to make this semi-interesting .. In the late 1980s, some economists at Ohio University got together to do a little study for the congressional Joint Economic Committee. They wanted to know what happens when the government increases taxes and therefore collects more money for its coffers. Did government spending grow or did our debts shrink? These bean counters worked and slaved over their research and calculators and came up with something that is now known as the $1.58 study. This is what they found: "Every new dollar of new taxes led to more than one dollar of new spending by Congress. Subsequent revisions of the study over the next decade found similar results."
Let's review: Higher tax collections have never resulted in less spending by Congress. Do you understand that word? NEVER! And you think this time it would be different? Under Obama? At some point you really have to try to start thinking more clearly. It's not painful, really. The only pain is the embarrassment you feel over having been conned for so long.
Don't be fooled by the Democrat rhetoric; and don't expect the ObamaMedia to tell you the facts behind tax increases. Increasing taxes on the rich has nothing to do with reducing our deficit. It has everything to do with pandering to the wealth envy crowd. When presented with the information that increasing capital gains taxes resulted in less revenue for the government, our own president said that he would still increase taxes "for the purposes of fairness." How can you even debate such logic?