This is a bit exasperating. For more than a year, I’ve been saying that the tax increase which president Zero is obsessing over doesn’t amount to a hill of ….. beans. The CBO now estimates the tax increases would amount to $82.3 billion annually.
This should have been made an election issue. One could have easily exposed Zero for the smallish individual he is.
For the new readers, I’ll reiterate. $82 billion per year is nothing. Even if there is no negative affect from the tax increase, (there will be a negative impact) it still does nothing to balance the budget. It is simply a punitive tax, attacking people for being successful. Currently, federal spending stands at $3.8 trillion per year. The tax at optimal implementation with no negative impact will raise 2% of our budget.
2% of our budget. That’s the plan. Barry Zero is hanging his hat on the imaginary benefits of punishing successful people. That’s his plan. He’s proposed nothing else. Seriously, that’s his plan! For those who a challenged in visualizing large numbers, I’ll graph it for you.
This is what the contentious issue is about. While the risk is low, the wealthy will survive the tax increase, the benefits are very near nothing. There is no logical nor fiscal reasoning to pursue this notion, but this is what president Zero wishes to accomplish.
So, finally, after a year of bickering, a Repub politician finally puts the numbers in perspective.
“The president’s plan to increase taxes on the upper 2 percent (of American earners) covers the spending by this federal government not for eight years, not for eight months, not for eight weeks but for eight days,” Rep. Tom Price, R-Ga., said Tuesday on MSNBC.
Will anyone notice now? I doubt it. Romney should have been mocking Zero about this from day one. But, he didn’t. Congress should have been making fun of Zero as soon as he proposed this idiocy, but they didn’t. Now, finally, they are saying this is an entirely symbolic proposal.
You know, I don’t have the ego necessary to say I have all of the answers, but, there are keen observations and insights throughout the blogosphere. They don’t have to read Suyts space to know these things, but would it hurt these idiots to actually read some conservative’s perspectives? Campaigning or not, it should be required for Repubs to read people like Dan Mitchell, Thomas Sowell, Walter Williams, heck they should read Michelle Malkin and the other conservative hotties. But, they seem oblivious to these people.
This should have been shouted from Capitol Hill for more than a year. It’s too late for this to gain any traction in the time left.
There are more laughable mock worthy aspirations of president Zero.
The president has a goal of cutting $4.4 trillion from the budget over the next 10 years.
How he plans to accomplish this is anyone’s guess, seeing that he’s already going to the tax raising well. But, let’s put this in perspective as well. If we stay at our current spending levels, (which we won’t, it will always increase) then over the next 10 years we will have spent $38 trillion. Zero’s long term goal is to only cut $4.4 trillion from this bloated budget? If Zero had kept the spending at the bailout and stimulus year of 2009, then we would have spent $35 trillion over ten years period of time. See how easy that was? I could cut $3 trillion and still spend like a drunken sailor on shore leave.
Here’s the stupid thing in all of this. We are currently projected to raise $2.5 trillion in revenue for the federal government. At 3% annual growth, (we won’t get any better than that under Zero) we will still need to cut $10 trillion over ten years to achieve a balanced budget. If we haven’t achieved a balanced budget over this period of time, then we’ll be out of time.
Barry Zero has never been serious about thwarting the impending fiscal and economic doom of this nation. The Repubs should have countered Zero’s plans with mocking derisiveness. They didn’t, and now we’re all going to pay for their stupidity.
Read more: here.