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| Fiscal cliff |
Really?
The arrogance displayed at the
beginning of the President’s first term has re-emerged. Somehow he believes he
has a mandate—or worse, sovereign powers. He hands Congress a proposal chock-full
of new spending with the only plan to raise revenue is taxing the top 2% of
American wage earners, and he’s unwilling to negotiate.
The famous Warren Buffett
smoke-and-mirrors analogy of taxing millionaires to pay down the debt is just
that. Buffett paid $6+ million in taxes last year. If we doubled his taxes
and he paid $13 million, it wouldn’t put a dent in our national debt.
In fact, even if we tax the top 2% at 100%
rate, it wouldn’t put a dent in the nation’s debt! The
suggestion to raise taxes on the top 2% is a feel-good tactic designed to placate the President’s base.
Why?
The wealthiest Americans will
continue to find loopholes and deductions to avoid paying higher taxes—which is
why the Republicans have proposed closing the loopholes and limiting deductions
on the top 2%.
Consider these figures*:
66.1 million Americans receive
welfare, food stamps, and/or Medicaid
21.2 million Americans work for
the government
109.3 million Americans are
employed by the private sector
This means 87.3
million Americans draw checks from the government. This doesn’t
include the Social Security, Medicare, and disability debacle.
Let’s get real. It’s not rocket
science. To raise revenue to help balance the budget and start paying down the
debt we need to add more private sector tax payers. To do this, we must create
an environment that will enable job growth. Raising taxes on those making above
$250,000 (many are small business owners), will stagnate job growth even more.
The other thing in the
President’s proposal? Eliminate the debt ceiling.
Really?
Just like when the President erroneously
stated last spring the Supreme Court didn’t have jurisdiction to rule on
Obamacare, he once again shows his ignorance of the Constitution. Three
branches exist for a reason—for times like these when one branch tries for a
power grab and refuses to negotiate. The debt ceiling is controlled by Congress
to force the country to live within its means.
Could you imagine if we didn’t
have a debt ceiling?
Part of the problem is we refuse
to take the bitter medicine we should have four years ago. No one wants to
tighten the purse strings. Yet, like the person who runs up credit card debt
and lives overextended all of a sudden finds their world crashing down around
them, our nation will suffer the same fate if our leaders don’t get serious
about debt control.
It’s ridiculous that, just like
during the election, polls reflect anger and blame toward Republicans when they
are working toward financial responsibility. I’m under no illusion that their
plan is perfect or that we don’t have pork barrel addicts in Congress. However,
it’s time to take the ideological blinders off just because you support the
social programs of the President. He’s unwilling to negotiate!
Where’s the leadership?
President Reagan worked across
the aisle with House Speaker Tip O’Neill, and President Clinton worked with House
Speaker Newt Gingrich. Both of these administrations enjoyed economic success,
which in turn, benefited the American people.
The sad, ironic thing is that
once again the President has taken to the campaign trail to sell his proposal.
He implores Americans to tweet or call Congress to show support for his plan. This
isn’t a popularity contest, Mr. President. The election is over. I don’t
care one whit who gets the “blame” if we go over the fiscal cliff, despite the
mainstream media trying to pin it on John Boehner and the Republicans. Neither
am I surprised by that. The media helped re-elect what we have now.
Roll up your sleeves, Mr.
President, and get to work! The costs are too high, if you fail to lead. Our
country and our children’s future depend on it.
© Laura Hodges Poole
*Pennsylvania Department of Public
Welfare
Photo courtesy of Microsoft.com
free clip art
