Middle-Class Tax Increases On The Way

The Democrats are caught between a rock and a hard place. You see, they were ecstatically triumphant after the 2008 elections, and immediately began implementing massive spending increases. As spending exploded, so did our national debt. So much so, that people became increasingly concerned about our excessive debt.

They've increased spending a lot, but they've also implemented quite a few tax increases... just to "pay for" their drunken spending spree. Now that they are having to pretend to actually care about the national debt, they need to increase revenue, and are looking at the middle class to do it. IN SPITE of PresBo's repeated promises to the contrary, and in spite of repeated warnings from many conservative and libertarian voices.
http://www.walletpop.com/blog/2010/06/28/are-middle-class-tax-increases-on-the-way/

This week, House Majority Leader Steny Hoyer (D-Md.) became the first high-ranking Democrat in Congress to signal that the party might not permanently extend President George W. Bush-era tax cuts for the middle class. Hoyer wouldn't go so far as to say that tax increases were on the table but suggested that any extension of middle class tax breaks would likely be short term, perhaps as short as one year. Those tax breaks were passed during President Bush's first term and have not been renewed since; they are scheduled to expire at the end of 2010.

It has been largely assumed that the Democrat-controlled Congress would extend tax cuts for the middle class and allow those breaks for the upper class (families making more than $250,000 per year) to expire. That assumption became even more cloudy this week when Sen. Hoyer remarked that "raising revenue is part of the deficit solution." Republicans immediately zeroed in on Hoyer's comments, with Minority Leader Mitch McConnell (R-Ky.) saying, "It's now official. Top Democrats on Capitol Hill are starting to signal their intention to raise taxes on the middle class."

House Minority Leader John Boehner (R-Ohio) said Hoyer's comments are indicative "that he supports raising taxes on the middle class to pay for more government spending."

As you can see, the Democrats want to spend a TON... and tax YOU to pay for it. YOU, not some nameless, faceless, rich guy. They're even willing to ignore PresBo's repeated promises NOT to do this, just so they can get your money.


On the "bright" side, PresBo agreed at the G20 summit to cut our deficit in half by 2013... after first ratcheting them up with more "stimulus" spending.
http://www.huffingtonpost.com/2010/06/27/g-20-toronto-deficit-2013_n_627157.html

"Advanced economies have committed to fiscal plans that will at least halve deficits by 2013 and stabilize or reduce government debt-to-GDP ratios by 2016," according to the statement. The gross domestic product, or GDP, measures the value of all goods and services, and is considered the best gauge of economic health.

At the same time, the statement called for following through on "existing stimulus plans," heeding Obama's concerns.

So our deficit is huge and he wants to cut it in three years. If he does so, it'll end up in the area of $600 - $800 billion... about double what it was when he took office. THIS is an austerity measure?

Look, we don't have to get our yearly DEFICIT under control, we have to get our national DEBT under control. That means we have to ELIMINATE the deficit and start paying down the debt! We're going to hit a national debt level that is 92% of GDP later this year... and that could be a danger point.

So Democrats will joyfully keep spending on every extreme liberal program they want, keep those spending levels high, and demand that YOU... that WE pay for it all. Keep in mind that the more we let them spend, the higher they will raise taxes to "pay for it."

It's time to stop "finding ways to pay for spending" and to start CUTTING SPENDING! This debt crisis was caused by too much spending. Slashing that spending HAS to be a central part of the solution.