Math is a generally rigid principle. In fact, with the exception of Baseline Budgeting, IRS worksheets, and the 172 million jobs that Maxine Waters said we would shed due to sequestration, math is fairly undeniable.
Which brings us to the curious case of modern day progressives: Progressives are otherwise bright people who seem incapable of grasping fundamental concepts such as human nature, mathematical frameworks, or historical precedent. They are people who feel ideology and liberalism can somehow wish away the foundational issues that plague America’s economic “recovery.”
Mary Landrieu (D-Louisiana), Nancy Pelosi (D- Socialist Republic of California) and even Barack Obama (Campaigner in Chief) have suggested that the only thing standing between economic collapse and economic prosperity are a few dollars held by greedy rich people on Wall Street. Revenues, we are told, must be included in any deal to reduce the deficit. Revenues are required to “invest” in our future. New revenue, the Leftists cry out, must be considered if America is to climb its way from economic stagnation.
Well, Mr. President, your wish has been granted. According to the Congressional Budget Office, 2013 should be a record year. In fact, the CBO estimates the Treasury will collect a record breaking $2.7 trillion dollars in 2013. Actually - all in all - the last four years have not been all that bad for Government. At the peak of the Recession (“great” or otherwise) revenues stood at $2.1 trillion. And despite an ever increasing amount of federal revenue, America has managed to add an additional $6 trillion in National debt over that same time period.
Deficits are on pace to continue near record highs as well – at the same time we take in record amounts of revenue. So. ... Are revenues really the problem?
But what about those greedy rich people? You know the type: those selfish Atlas Shrugged reading capitalists that separate otherwise frugal consumers from their hard earned cash? Well it turns out that even evil CEO’s have been paying record amounts to the nation’s most feared collection agency- the IRS.
Michael Schaus is a talk radio host, the Associate Editor for Townhall Finance, and the executive producer for Ransom Notes Radio. He is a writer, artist, and political humorist. Having worked in a wide range of industries (including construction, journalism, and financial services) his perspectives and world views are forged with a deep understanding of what it means to be an American conservative. Visit RightWingImage.com for more from Michael.
NEW TIME Today, at 9:30 AM PT: Get the Market Movements in Advance; Williams Edge Webinar for January 28th 2014 | John Ransom
NEW TIME Today, at 9:30 AM PT: Get the Market Movements in Advance; Williams Edge Webinar for January 26th, 2014 | John Ransom