John Ransom

Donjindra wrote: We're running huge deficits. Of course our tax bill will go up. It should go up. Do "conservatives" think there's a free-lunch? That money grows on trees? Apparently so. - Merry Christmas: This Tax Increase is for You, America

Dear Comrade Jindra,

OK, so now liberals are worried about the deficit? And you guys are lecturing the rest of us about fiscal responsibility and how money is created?

Typical tough talk from a group that can’t even pass a budget, yet alone balance one.

Here’s a good idea: Have your messiah present a plan to Congress that balances the budget, right now, not after the passage of time and some mythical increase in GDP created by “voodoo” tax increases on everyone.

Because Obama’s newest plan is basically the same, old plan he had last year- and the year before- that even Democrats wouldn’t vote for…not one vote. 

“Even after granting all the phony spending cuts and similar gimmicks in Obama’s budget of last February,” writes Heritage’s J.D. Foster, ”federal debt held by the public rises by $8.5 trillion over the next 10 years without the tax hike and by $7.7 trillion with the tax hike. Expressed another way, allowing some of the Bush tax cuts to expire as Obama demands represents less than 10 percent of the projected debt increase.”

Only a true liberal would could come up with a plan to minimize the damage done to the economy by the expiration of $500 billion in tax cuts by raising taxes another $1.6 TRILLION, including $600 billion on ordinary, middle class Americans.



I really hope Obama gets his party to vote “yes” on these tax increases.


John Ransom

John Ransom is the Finance Editor for Townhall Finance.
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