Democrats Trying To Make Tax-hikes Automatic

[mudwhistle]

Holy Shit. The Dems wanna make their spending the trigger that raises our taxes.

Talking about stupid. This takes the cake.

Pay attention folks.

This is what your Democrats are up to.

Obama’s Tax Increase Trigger: Punishing Taxpayers with Automatic Tax Hikes When Politicians Overspend

April 13, 2011 by Dan Mitchell

Responding to widespread criticism of his AWOL status on the budget fight, President Obama today unveiled a fiscal plan. It already is being criticized for its class warfare approach to tax policy, but the most disturbing feature may be a provision that punishes the American people with higher taxes if politicians overspend.

Called a “debt failsafe trigger,” Obama’s scheme would automatically raise taxes if politicians spend too much. According to the talking points distributed by the White House, the automatic tax increase would take effect “if, by 2014, the projected ratio of debt-to-GDP is not stabilized and declining toward the end of the decade.”

Let’s ponder what this means. If politicians in Washington spend too much and cause more red ink, which happens on a routine basis, Obama wants a provision that automatically would raise taxes on the American people.

In other words, they play and we pay. The last thing we need is a perverse incentive for even more reckless spending from Washington.

The Democrats only solution all along has been to raise all of our taxes.

Oh, and Obama wants to cut Medicare as well. So when he lies about how the GOP wants to screw the elderly and the handicapped he needs to include himself.

LINK
Obama’s Tax Increase Trigger: Punishing Taxpayers with Automatic Tax Hikes When Politicians Overspend « International Liberty

DNC nominee says 'shared sacrifice' necessary - Yahoo! News

 

[mudwhistle]

In case anyone questions my source.....

The reason I was alerted to this story is because Fox News had a discussion about it on the "Bulls & Bears" panel 10am Eastern.

Neil Cavuto will again discuss it on "The Cost of Freedom" this morning. That's if you're interested in watching it yourself.

If not you can find it at this link:Bulls & Bears

The whole debate is there for all to see.

 

[Mad Scientist]

But, but it's a "fail safe" trigger! How could that be wrong?

 

[mudwhistle]

But, but it's a "fail safe" trigger! How could that be wrong?

Chris Hahn for the Democrats argued for it because basically to quote Ashton Kutcher "We need stuff".

He's closeting it in taxing the rich but it's really an attempt to not only to repeal the Bush Tax-cuts but also impose automatic increases if or when the government overspends. Hahn claims this is necessary because, in his words, "Nobody wants to do anything".

The truth is the Dems won't do anything......but propose more tax increases.

 

[LordBrownTrout]

More taxes, more programs, more spending, more debt. What a lovely cycle. I'm sure most of us would be living under a bridge if we managed our affairs this way.

 

[Quantum Windbag]

Holy Shit. The Dems wanna make their spending the trigger that raises our taxes.

Talking about stupid. This takes the cake.

Pay attention folks.

This is what your Democrats are up to.

Obama’s Tax Increase Trigger: Punishing Taxpayers with Automatic Tax Hikes When Politicians Overspend

April 13, 2011 by Dan Mitchell

Responding to widespread criticism of his AWOL status on the budget fight, President Obama today unveiled a fiscal plan. It already is being criticized for its class warfare approach to tax policy, but the most disturbing feature may be a provision that punishes the American people with higher taxes if politicians overspend.

Called a “debt failsafe trigger,” Obama’s scheme would automatically raise taxes if politicians spend too much. According to the talking points distributed by the White House, the automatic tax increase would take effect “if, by 2014, the projected ratio of debt-to-GDP is not stabilized and declining toward the end of the decade.”

Let’s ponder what this means. If politicians in Washington spend too much and cause more red ink, which happens on a routine basis, Obama wants a provision that automatically would raise taxes on the American people.

In other words, they play and we pay. The last thing we need is a perverse incentive for even more reckless spending from Washington.

The Democrats only solution all along has been to raise all of our taxes.

Oh, and Obama wants to cut Medicare as well. So when he lies about how the GOP wants to screw the elderly and the handicapped he needs to include himself.

LINK
Obama’s Tax Increase Trigger: Punishing Taxpayers with Automatic Tax Hikes When Politicians Overspend « International Liberty

DNC nominee says 'shared sacrifice' necessary - Yahoo! News

I will state this quite clearly so everyone will understand my position.

Only a person who who is so stupid that they should not be allowed to live without supervision would even suggest an automatic tax increase to cover spending. The Democrats are loosing the debate about the debt, and will be giving the Republicans complete control over everything if they do not get their act together. Even Detroit can see how stupid they are.

Editorial: Say no to tax trigger | detnews.com | The Detroit News