Left and Right….
As the “fiscal cliff” draws closer, there are R-words and D-words saying ‘Let. It. Burn.’, “Give Obama what he wants”. Senator Murray wants to take the dive along with other Progs. From the Examiner,
“If the Republicans can’t see their way to significant additional revenues targeted toward the people who are best off and targeted toward passive income and other things like that, then we’re better off going over the cliff and readdressing this with a better Congress in January,” Rep. Peter DeFazio (D-Ore.) said. “And we would have plenty of time to fix it.”
If tax rates snap back to the higher levels from the 1990s and painful budget cuts start to hit the Pentagon, these Democrats, led by Washington Sen. Patty Murray, believe they would wield more leverage over the GOP.
It seems “wielding leverage” in the political sphere is much more important to the Progs than helping the country and its families. Does anyone think Congressional members will suffer the same as the middle class or retirees? Their paychecks and pensions will be safe, yours won’t be. There isn’t a more selfish bunch of people on the Hill at this point in time then Progressives.
The IMF has put their two cents in stating;
The IMF urges Washington to find a long-term solution to our fiscal problems: “Failing to agree soon on a credible plan to put the federal debt on a sustainable path could exacerbate uncertainty and thereby detract from [economic] activity.”
A credible path should be a “Big Deal” (to use U.S. Chamber President and CEO Tom Donohue’s words) that includes comprehensive tax reform, spending reform that tackles entitlements, and another component: revenue from increased domestic energy. The International Energy Agency projects that the United States will be the world’s top oil producer by 2020, making it an important part of any agreement.
Now that makes sense, a deal that would encompass an all the above approach to our fiscal problems. Why not means testing for Social security and Medicare? It really would be the best way forward, the safety net there for those who actually benefit from it. Both parties are agreeable to letting the “payroll tax cuts expire”.
Douglas Holtz-Eakin, a former director of the Congressional Budget Office, said the payroll tax cut was “likely to go away” because most lawmakers now regard it as an ineffective policy.
“It was originally intended to spur employment growth,” he said. “I don’t think anyone believes it has been especially successful.”
However, there is some disagreement among conservatives regarding the fate of the payroll tax cut.
“Was the payroll tax cut particularly good policy when Obama first proposed it? No. Did it help the economy? Not particularly. Then why extend it? Because that family needs that $1,000 in payroll tax relief,” he wrote.
It would seem to me that giving Obama and the Progs everything they want is the only way to prove how horrible Progressive policies are for this country. The problem with our deficit is spending not revenue. Until we have tax reform, tort reform, and get spending under control, we will not get out of the big government mess. For the American public to understand this and stop buying into the Progressive agenda maybe our Congress should let them have their way. Either way, we’re all going to take a beating, at least those in the private sector.
- Fiscal cliff: Will liberals jump? – The Star-Ledger (nj.com)
- The Coming Middle Class Tax Hike (freebeacon.com)
- All Workers Should Be Worried About The Huge Fiscal Cliff Component That Nobody Is Planning To Fix (businessinsider.com)
- Obama tries to corner Republicans on tax rates for the middle class (thehill.com)
- Congressional Liberals: This Fiscal Cliff is Pretty Great, Actually (townhall.com)
- Posted in: Barack Obama ♦ Congress ♦ Democrats ♦ Economy ♦ Education ♦ Employment ♦ National Security ♦ Politics ♦ Progressives ♦ Random ♦ Republicans ♦ Taxes ♦ Uncategorized
- Tagged: Barack Obama, class warfare, Congressional Budget Office, deficits, Douglas Holtz-Eakin, economic policies, Obama, Patty Murray, Peter DeFazio, Progressives, Republican, Tom Donohue, United States