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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, Obamas 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.
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.
They want EVERYONE ELSE to take reasponsiblity for their actions.
They want EVERYONE ELSE to take reasponsiblity for their actions.
I think i'd like Iraq, Lybia & Afghanistan , Isreal, Pallestine, and every other F'd up country we're pouring $$$$$$$$$$$$$$$$$'s into to take personal responsibility for thier actions, and leave us outta it....
Weird how Reagan raised taxes many times, but when Obama does it something in the universe switches gears and presto chango a new attitude materializes? Or could it simply be there is no substance to the tax whiners? Latter methinks.
Newsflash: Ronald Reagan Raised Taxes (You Idiots) | Firedoglake
"It’s conservative [and libertarian] lore that Reagan the icon cut taxes, while George H.W. Bush the renegade raised them. As Stockman recalls, "No one was authorized to talk about tax increases on Ronald Reagan’s watch, no matter what kind of tax, no matter how justified it was." Yet raising taxes is exactly what Reagan did. He did not always instigate those hikes or agree to them willingly–but he signed off on them. One year after his massive tax cut, Reagan agreed to a tax increase to reduce the deficit that restored fully one-third of the previous year’s reduction. (In a bizarre bit of self-deception, Reagan, who never came to terms with this episode of ideological apostasy, persuaded himself that the three-year, $100 billion tax hike–the largest since World War II–was actually "tax reform" that closed loopholes in his earlier cut and therefore didn’t count as raising taxes.)"
""Reagan was coming from this very simple proposition: If you lower the tax rate, then more people will work, there will be more income in the economy and everyone's lives would be better. Despite a 25 percent income tax cut, by 1982 Reagan faced a deepening recession, mounting unemployment and homelessness.""
Ken Duberstein, Reagan Chief of Staff
Typical liberalism. They never take responsibility for their actions. They want EVERYONE ELSE to take reasponsiblity for their actions.
Obama's solution for Washington's out of control spending? WE ALL SUFFER!
Remember this!
2012 is coming!
Don't you really mean "Typical politicians"? Everyone with an IQ over 45 knows they never take responsibility for their actions (no matter which side of the wall they're currently bouncing on). And they always want [not EVERYONE ELSE] but the American taxpayer to pay the tab for that obvious failure.
And considering the number of people I know who have no spending to control, I'd say we're already suffering. And it has absolutely nothing to do with Obama or any solution he may have.
But what I'd really like to know is who in or out of government thinks running this quasi-empire and all that goes along with that doesn't cost one hell of a lot of money. Since the government was not created to be an income producing entity, exactly where do the morons (in or out of Washington, D.C.) believe that money comes from?
Ignorance is certainly not bliss in this regard. But on this subject the American people for the most part are blissfully ignorant. As usual most believe the standardbeing rolled out by the Conservatives - who by the way are almost solely responsible for the debt we're facing today. And their only answer is to rob the people who have paid the most into the system (Senior citizens) to keep the rich in monogrammed hankies.
Weird how Reagan raised taxes many times, but when Obama does it something in the universe switches gears and presto chango a new attitude materializes? Or could it simply be there is no substance to the tax whiners? Latter methinks.
Newsflash: Ronald Reagan Raised Taxes (You Idiots) | Firedoglake
"Its conservative [and libertarian] lore that Reagan the icon cut taxes, while George H.W. Bush the renegade raised them. As Stockman recalls, "No one was authorized to talk about tax increases on Ronald Reagans watch, no matter what kind of tax, no matter how justified it was." Yet raising taxes is exactly what Reagan did. He did not always instigate those hikes or agree to them willinglybut he signed off on them. One year after his massive tax cut, Reagan agreed to a tax increase to reduce the deficit that restored fully one-third of the previous years reduction. (In a bizarre bit of self-deception, Reagan, who never came to terms with this episode of ideological apostasy, persuaded himself that the three-year, $100 billion tax hikethe largest since World War IIwas actually "tax reform" that closed loopholes in his earlier cut and therefore didnt count as raising taxes.)"
""Reagan was coming from this very simple proposition: If you lower the tax rate, then more people will work, there will be more income in the economy and everyone's lives would be better. Despite a 25 percent income tax cut, by 1982 Reagan faced a deepening recession, mounting unemployment and homelessness.""
Ken Duberstein, Reagan Chief of Staff
This seems to be the excuse barrier that liberals hide behind when confronted with the insane policies of Obama . . . . BUT BUSH . . . BUT REAGAN . . .
Shall we examine how much we owed to China under Reagan as compared to Obama or how much we WILL OWE if we keep going under the policies of Obama???????
I don't think you want to go there.
Nice try.
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, Obamas 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.
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.
» Obamas Tax Increase Trigger: Punishing Taxpayers with Automatic Tax Hikes When Politicians Overspend - Big Government
Typical liberalism. They never take responsibility for their actions. They want EVERYONE ELSE to take reasponsiblity for their actions.
Obama's solution for Washington's out of control spending? WE ALL SUFFER!
Remember this!
2012 is coming!
This seems to be the excuse barrier that liberals hide behind when confronted with the insane policies of Obama . . . . BUT BUSH . . . BUT REAGAN . . .
Shall we examine how much we owed to China under Reagan as compared to Obama or how much we WILL OWE if we keep going under the policies of Obama???????
I don't think you want to go there.
Nice try.
