Let me get this straight, the Government can do and spend what it wants and The People have to pay for it? I think that sucks. How about cutting all Federal Employees Pay 50%, doing away with the Department of Energy, (the department was created by Jimmy Carter to keep us less dependent on foreign oil….. how’s that been working out?), getting rid of all of Obama’s Czars, Charging a 100% Import Tax on all goods coming into this country made by companies that left the US for cheep labor outside the US, tell Obama to quit flying around the world telling the rest of the world how great they are only to come back here and bad-mouth us, and tell Congress to buy there own Health Care. It would be a nice start. 1 Dragon
As you wake up this morning, there is a lot of talk about the leaked report of the Debt Commission. Keep in mind that this is not the final report, but a draft passed out by the co-chairs.
What you need to know is pretty straight forward.
Yes, the plan ends the deficit. It does so with lots and lots of spending cuts across the board. There are actually some good suggestions in the plan, but there is one inescapable fact — the proposal has buried in it one trillion dollars in tax increases.
Some of what are defined as tax increases are, in fact, closing loopholes in the tax code that lobbyists have inserted on behalf of clients. But also included is getting rid of the home mortgage deduction. That would amount to a massive, massive tax increase on the middle class.
The reforms suggested for social security are out and out garbage. It is not means tested. It is not “lock boxed”. Payments are cut. Retirement is increased.
This proposal is dead on arrival.
But there is another point that must be made — even were all the proposals, plans, and points adopted it would do no good. Why? Because until Washington admits that it has exceeded the powers given to it under the constitution the same problems will continue to occur over and over.
The Leviathan knows no bounds and, left to itself to check its own growth it will continue growing. Until we are willing to admit that Article I, Section 8 of the U.S. Constitution gives limited powers to Congress, we are wasting our time.
How about cutting the corporate income tax rate which is the highest next to Japan’s to zero. Currently we are at 39.3% Japan is at 39.6% They have made the decision to lower theirs. The average corporate income tax in the developed world is 15%. Factually corporations pay nothing, they build the tax into the cost of the products we consume. If Obama were seriously interested in getting things right this would be his first step, the second would be to abolish the FED. J.C.
I heard a story the other day, from 1815 to 1913 there was no inflation, the government kept everything under control. In 1913 the Federal Reserve was created. Shortly after, 100% inflation.