If I told you that you were going to get hit by a massive tax increase, you would rightly ask, “Why haven’t I heard about it on television? Why haven’t I read about it in the media?” But it really is coming…just in two years.
Congress passed, by a party-line vote, the Democrat’s version of the budget. This budget lays the groundwork for the elimination of the Bush tax cuts. What happens when you eliminate a tax cut? In the Democrats’ world, nothing. For you and me, it’s a $200 billion tax increase.
I try hard in this blog not to single out one political party. Frankly, they’re both quite capable of underhanded ways of budgeting. The Republicans had twelve years of running Congress, and are only now managing to understand the wisdom of being fiscally conservative. Unfortunately, it appears that the Democrats have no idea what that means.
President Bush is threatening to veto any appropriation bill that exceeds the amounts in his budget. I expect he’ll be using that veto pen frequently.
As Congressman Paul Ryan (R-WI) stated, “But I’d hardly consider a $200 billion tax hike a ‘win’ for American workers.” It’s not. Democrats have claimed that the Bush tax cuts led to the budget deficits. That’s not the case; federal government revenues increased by 46% since they were enacted. Unfortunately, spending increased by even more.
We have bloated government, bloated bureaucracies, and a Congress that wants more of the same. I suggest that anyone who cares about this issue—and it’s a major one in my opinion—read the Porkbusters website. Join with me in trying to take the pork out of government.