Whenever I do the Close Up debates, in my opening statement, I usually say something along the lines of, "You always know who is in charge of Congress. If tax increases are being proposed then it is the Dems b/c they believe they can spend your hard earned money better than you can. If tax cuts are being proposed then it is the Repubs b/c they believe you can spend your hard earned money better than the government can."
Well, once again this is unfortunately being proven true. In their first budget proposal since taking control, the Dems have proposed the biggest tax increase in American history (they broke their 1993 record, which is the last time they had control). Their budget will result in $393 Billion in new taxes over the next 5 years. Not only will this choke the economic growth of the last 4 years, it will reverse it.
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6 comments:
We must win in 08!!
sorry I could not make it last night- still tough to set my schedule with the little one taking up time. I promise we'll meet in the arena soon- and then I will proceed to kick your butt from here to Timbuktu!
If the GOP didn't screw things up so bad we wouldn't have to try to make up the funding differential. Bush and his party members in Congress gave us tax cuts but inefficient spending. We have to make up the difference now. How do you give tax cuts, spread the pork everywhere and still spend money on the worldwide invasions? If you want to continue your imperialistic actions especially in Iran, you need money.
Katie...yeah...the economy sucks so bad...nearly three straight years of growth thanks to the tax cuts and the record revenue being brought in due to a growing economy.
Now you won't find any disagreement that they should have spent less as well. However, if the Dems first budget is any indication, they have increased spending even more and by letting the tax cuts expire the economy is going to be hurt thus bring in less revenue to fund the increased spending thus more debt.
Southpaw...when you wake up from your dream let me know ;)
LMC...ABSOLUTELY!!!
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