Immanuel
Gold Member
- May 15, 2007
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President Obama has promised the progressive wing of his party that taxes will be raised on the wealthy. It's more of a symbolic thing now than any type of coherent fiscal policy. If we're really looking to address the problems with the deficit then we need to shrink the size of government spending. We've reached the point where taking 100% of the income of the "wealthy" won't even come close to paying for what we've obligated ourselves to shell out in entitlement programs. It's a no brainer what happens at that point, CD...taxes go up on the Middle Class. They have to...there's no other way it can go down.
I wonder if this promise will be as good as his promise not to raise one dime of any kind of taxes on those making less than $250k/year... a promise that he broke in his first month of office when he raised cigarette taxes. For some reason, I believe he intends to keep this promise just as he intended to keep that promise.
I suspect he will increase taxes on the middle class and in four years we will still be debating ending the "Bush Tax Cuts".
Immie
If you crunch the numbers it simply doesn't work...even under the most optimistic scenarios. We simply can't pay for what we're obligating ourselves to unless we put in place massive tax increases on the Middle Class as well as the wealthy. Anyone who says that won't happen is either extremely deficient in mathematics or they're lying to you.
Look, if we really want to fix this thing before it get too far out of control then the way to go is automatic across the board cuts to ALL government programs. They're all inherently wasteful...that goes for Defense...that goes for Medicare. Cut the cost of government as well. Why does every politician in Washington now require 10 "aides" to read the damn legislation that they wrote and they are voting on? Maybe if they had to read it themselves it wouldn't be the epic "gobbledegook" that it now always is!
Wait a minute? Do you really think Obama wants to "fix this thing"? You're joking, right?
I know it won't work, but the problem is that we will continue to borrow until the roof caves in. Honestly, no one in politics is willing to bite the bullet and do what needs to be done... raise taxes (wealthy and middle class at least) and cut spending. Also, I have been saying cut defense as well for a long long time.
That's the problem OS, Obama has no intention of fixing the problem. He's paying lip service to the progressives that want to raise taxes only on the rich. In the end, it will be the middle class that gets the shaft and like I said, four years from now, we will still be fighting over whether or not to let the Bush Tax Cuts expire and we will be a hell of a lot deeper in debt than we are today. Nothing will be fixed. It simply is not in the cards as they say.
Immie
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