Thursday, October 25, 2007

Mother of All Tax Hikes

Democrat Charles Rangel, Chairman of the Ways and Means Committee, has submitted a budget that contains "The Mother of All Tax Hikes". That is a 4% tax surcharge on households that earn more than $150,000 a year (bringing their marginal tax rate to 44% of income).

Maybe you think this does not apply to you because your household makes less than $150,000 a year. Think again. The real struggle is not between classes, but between citizens and their governments. Citizens versus a government that has grown so vast, intrusive, and powerful that it has morphed from our servant and has now become our master.

Don't let them divide and conquer. A tax increase on any of us is a tax increase on all of us. For example, say I sell furniture and part of my pay is based on commissions. That tax will slam the furniture business because folks in that income range are the ones who could afford to buy it- at least they could until the money that I once had a shot to earn is given to Charles Rangel. See, I have to convince people that I have something they want so bad that they gladly give up the money. Rangle's advantage is that he uses the power of the gun to coerce people into giving up their earnings whether they want what he is selling or not. There is money in the government's hands or money in the private sector's hands. Every dollar they take from the private side is one lost to private citizens like you and me, and gained by them.

Of course, before we castigate Democrats for taxing, maybe we better think about the morality of Republicans and borrowing. From George Washington to Bush II the official national debt grew to 5.4 trillion dollars. That debt is now on track to reach about 10 trillion by the end of Bush II. Imagine, this one man's administration has managed to come close to doubling the national debt acquired in the entire history of the American Experiment.

The problem is not taxing, and its not borrowing. Its SPENDING folks. Its SPENDING folks. Its SPENDING folks. Get it?

We can not afford a welfare state at home and garrisoning the world abroad. Continuing our current course is not an option, and the dollar as a currency is quickly becoming unraveled as that becomes apparent to the world.

3 Comments:

Anonymous c.b. said...

I also heard today that this "surcharge" will apply to your adjusted gross income as opposed to your "taxable" income, eliminating much of the impact of itemized deductions. These people have no shame!

8:50 PM, October 25, 2007  
Anonymous Anonymous said...

Every dollar they take from the private side is one lost to private citizens like you and me, and gained by them.

And given to third world mafias. Take, for example, Bush this week giving the Mexican government $500 million to help wage the war on drugs, part of a $1.4 billion program for "security cooperation" with Mexico. Oh yeah, there's money well spent.

7:16 AM, October 26, 2007  
Anonymous Anonymous said...

How about Planned Parenthood's annual $300 million budget?

4:31 AM, October 29, 2007  

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