Wednesday, January 02, 2013

Only in Washington Is a HUGE TAX INCREASE Considered a Tax Cut

From the WSJ:
The Senate-White House compromise grudgingly passed by the House is a Beltway classic: The biggest tax increase in 20 years in return for spending increases, and all spun for political purposes as a "tax cut for the middle class."
And from a 5th Listener who has it exactly right:
The federal government has already gone over the spending cliff - to the tune of $16 trillion. Spending is the problem. Debt is the problem. Deficit is the problem. When Obama, Biden, Reid, and Pelosi say they want a "balanced" approach that includes "more revenue," they are reminding us that they want "more revenue" (higher taxes). And the only reason for higher taxes ("more revenue") is to support "more spending." We are already over the spending cliff. The solution is less spending and reduced cost of government. And "less spending" does not require "more revenue."
Which brings us to this observation by Winston Churchill:

“Socialism is a philosophy of failure, the creed of ignorance, and the gospel of envy, its inherent virtue is the equal sharing of misery.”

1 comment:

  1. Ask your pal Grover about that when he comes on the show.....he calls it a tax cut himself...even a Progressive like me knows better Victoria.