Daily Archives: December 11, 2010

Politics

Bill Clinton Sends The Kid Off ‘Please Go’ From Presser

President Clinton takes over the tax bill presser because the kids had something more important to do. Given the fact that Obama is wanting to keep the rates where the Bush administration left them instead of reverting back to where the Clinton administration left them, seems to me that President Obama should have asked Bush to be there instead.

There’s a contradiction here that is unavoidable. Democrats have been berating Bush and his tax policy as being just ‘tax cuts for the rich.’ That there wasn’t any relief for the middle class. That’s what they said. Now, however, Obama is saying that the current rate represents tax relief for the middle class. And this makes any logical sense to who?

For those same years they berated Bush, they said that it was Clinton’s higher tax rates that led to all that prosperity, and Bush’s tax cuts that led to the recession. If you follow their logic, Bill Clinton and Obama should be saying they need to raise the taxes on everybody because, after all, it worked before. But they’re not saying that. They don’t have the honesty either to say that they were mistaken, misguided, or just plain wrong.

Then comes this question (at the end of the video), framed as though the recession is sluggish because people can’t get business loans for capital. I don’t know who asked that last question. It sounded like Ed Shultz. But talk about a non-issue, or a straw man issue. Idiots like that questioner fail to realize one simple fact. No one wants to go into debt to start a business or invest in same for the same reason that those who have the money are not. It has nothing to do with not being able to get a loan.

The administration has to first create a business friendly climate. Have a consistent tax policy. The FairTax would be nice. Eliminate the FUD factor. They can do that by not continuously berating capitalism, calling corporations greedy, and calling for raising their taxes and using the tax hammer to chase down private capital both here and overseas. Business owners don’t yet know how badly Obamacare will impact their operation. One thing is clear, it is not going to be helpful. And the effects are going to far outweigh the wisdom of starting a business with such an unknown out there.

Another thing is clear, the United States is not facing its unsustainable debt, inflation, and hyperinflation, because taxes are not high enough. They got there because Washington has been spending way more than they have.

If you want to face the truth, it is the government who is greedy. They just can’t seem to get enough of what does not belong to them, your hard-earned money. They’re so greedy that they want to reach into your grave and take over half of what you had left over, after taxes, when you’re six feet under. That, on its face, is immoral. This administration, with the cooperation of both political parties over time, has just got to stop looking to the few remaining people who are productive and working to bail out their sorry ass for spending money they don’t have and for keeping entitlement programs that are not sustainable.

If Washington wants to avoid the chaos we’ve seen in Greece, France, and Great Britain, they need to get out in front of it here and now. Stop demonizing ‘the rich’ and start calling on ALL  Americans to have their come-to-Jesus moment and, like our founding fathers had to do, and did it proudly, start making the needed sacrifices now, before it is too late.

Related Links:  Obama Ditches Tax Cut Presser, Bill Clinton Takes Control |  The State Of The Welfare State

UPDATE: 12/13/2010, Strengthening The Recovery

Economy, Politics

Kill The So-Called Tax Cut Bill

I find myself in agreement with the wacko Left on killing this bill now. Although for different reasons. Problem with the House version was that the unemployment extensions were not paid for when they could easily have been. That, and they want to tax the dead again. And then there’s the myth that keeping the tax rates the same are going to be a stimulus and create millions of jobs, is pure fantasy. Well, if Obama actually believes that it will, then it is pure fantasy. But I don’t think he believes that it will. Which makes it a lie. No different than the lie that Obamacare was not going to increase the debt, and was going to lower premiums, increase care and coverage, can keep your doctor. All that.

The benefits from ‘the Bush tax cuts’ have come and gone. It took a couple of years for those tax cuts to pay off. They’ve run their course and we’ve spent our way into a recession, and then some. We haven’t gotten trillions into debt by not taxing enough. I’m pretty sure it’s because we’ve spent and borrowed too much.

Now that Harry Reid has the bill, he has made it worse by adding another $55 billion of pork to it. Notice a trend here? If you’re having trouble passing a bill (like with Obamacare), just keep adding pork to it to bribe the votes you need. Where’s that change that Obama campaigned on? From here it looks like more of the same, on steroids.

The best we could do now is to let this bill fall on its face and let the next congress pass one with no pork in it. Making the current rates permanent, if not lower, will help to stop the FUD factor which now is more of a hinderance to growth and investment than the current tax rate itself. Raising taxes anywhere, and especially on those who we expect the growth to come from, will absolutely guarantee that the economy won’t be turning around anytime soon.

Link: Add-ons turn tax cut bill into ‘Christmas tree’