Tag Archives: tax cuts

Romney Is Not Reagan, But Is The Best Option

While it was definitely one of the elements, Ronald Reagan did more to help defeat the Soviet Union than conduct financial warfare via economic pressures.  U.S. defense spending increased during his administration.  Having faced the brunt of Adolf Hitler’s blitzkrieg, which was built post WWI in violation of the Treaty of Versailles, the Soviet Union’s Politburo watched this spending increase and knew its meaning.  That understanding and their fear of SDI made them respect Reagan and convinced them that Reagan was willing AND READY to protect, defend and advance American influence and power around the globe.  Reagan saw the USA as a force for good around the world.  Had he been merely interested in protecting the territorial landmass of the United States he would not have lifted a finger to help free Eastern Europe from Soviet oppression.

This increase in defense spending was an underlying cause of budget deficits that “progressives” still use to smear Reagan’s name and justify tax hikes under the misperception/misinterpretation/misrepresentation/outright lie that “Reagan’s tax cuts led to huge deficits”.  That lie is currently being recycled for the George W. Bush tax cuts.  It was also the “justification” behind a “progressive” offer to “compromise” with Reagan: Spending cuts (which never happened) in exchange for tax increases (that did).  A dishonest tactic they also employed on Bush the elder.  To this day, “progressive” Democrats love to harp about how “Reagan raised taxes…Reagan raised taxes”.

…*squawk*…Polly want a cracker.

“progressives” refuse to even think about thinking about addressing the true cause of America’s exploding debt: Big government “progressive” socialist “entitlement” programs which make people less self-reliant and more government dependent.  Worse yet, today, in the name of “social justice” and/or “economic justice” “progressives” use the emotional argument that “we need to take care of the less fortunate” by enacting additional “entitlement” programs (obamacare, massive increase in food stamps usage, etc.) and further hocking America’s future by giving boatloads of freebies to illegal aliens.

To balance the budget and follow the Constitution, the United States needs to defund and disassemble all the central planning, control “the masses”, big spending, socialist programs and dismantle entire Cabinet Departments that over-spend taxpayer’s money while stifling business and indoctrinating America’s children into hating America, free market Capitalism and believing Socialism and Communism are not so bad (Viva Che!).  There is no Constitutional authority for Social Security, Medicare or obamacare.  You can thank “progressive” FDR’s willingness to bully and threaten the Supreme Court into submission for their existence.  Likewise, there is no Constitutional authority for the Department of Energy or the Department of Education, the EPA and other unaccountable bureaucracies.

There is Constitutional authority for defense.

There are calls for cuts in defense as part of plans to balance the budget.  Peace through strength does not mean unilateral disarmament through cuts in defense.

Peace through strength means that you have, and your enemies KNOW that you have the military capability and the willingness, even if reluctantly, to do the following:

If attacked, the United States will declare war on its attackers and turn where they live into a crater filled parking lot that looks more like the moon than part of planet earth.  Then the U.S. will bring its troops home and leave the attackers to rebuild their lives without any help from the United States.  Anytime they or anyone else chooses to attack the U.S, it is guaranteed this process will be repeated.  That goes for Communist China, Imperialist Russia, Fascist Islam, their surrogates and everyone else.

For so long as there are enemies to the United States, this readiness must be maintained.

If the rest of the world wants to live in peace, they will keep peace with the United States.  We will be happy to engage in international commerce and mutually beneficial interactions.  If they choose to fight, they are toast.

This conclusion is reached by studying history and independent of the influence of America’s corrupt “mainstream media”.  Oh so lovingly referred to as the “progressive” Party Pravda.  It was blatantly obvious from day one that “Conservative” FOX News was in the tank for Romney.  Romney was nowhere near the top of many lists for the GOP nomination.

True Reagan Conservatives who voted for and lived in America during his Presidency, and witnessed that President Reagan’s winning coalition was based on fiscal responsibility, American security and the championing of America’s traditional moral values and principles, Conservatives will rally around Mitt Romney.

Given a choice between a peace through strength Romney, cut defense to balance the budget Ron Paul and gut defense to have more money to spend on socialist programs obama, Romney is clearly the best option.

http://mjfellright.wordpress.com/2012/06/21/romney-is-not-reagan-but-is-the-best-option/

David Plouffe: Truth Assassin

Congratulations to Mackenzie Weinger and Reid J. Epstien for accurately reporting the news about White House senior adviser David Plouffe’s trip through television’s Sunday morning talk show circuit. It is truly a pity that Plouffe and those in the White House who oversee his talking points script cannot demonstrate the same accuracy.

Plouffe stated that Republicans want “huge tax cuts for the wealthy, more war, more debt.” As is the case with most “progressive” propaganda, this allegation is completely unsubstantiated.

http://www.politico.com/blogs/politico-live/2012/06/plouffe-republicans-want-more-war-126391.html

Republicans, be they Rep. Paul Ryan or GOP presidential candidate Mitt Romney, have said repeatedly and on the record that their plans are to institute tax reform, not to pass “huge tax cuts for the wealthy”.

The stated Republican position of letting Generals on the ground in combat zones determine the pace of troop withdrawals is more responsible than pulling troops out based on partisan, politically driven timetables. Withdrawing security forces from countries before they are prepared to assume the burden on their own increases the likelihood that future conflicts will arise. It also sends a signal to America’s enemies that the United States is in retreat. Using history as the measure, signaling weakness through retreat only invites further aggression.

Saying Republicans want “more debt” is based on the incorrect “progressive” assumption that higher tax rates result in more revenue to the IRS. This false notion has been so thoroughly discredited that even Plouffe’s boss in the White House admitted tax cuts lead to increased IRS collections, and that plans to hike taxes on the rich were a matter of “fairness”, not to increase revenues. Tax reform that eliminates loopholes and subsidies for those in the highest income brackets, along with a lowering of tax rates across the board will stimulate economic growth and lead to more money going to the IRS. This will lead to less debt, not more.

Plouffe continued with the White House’s aggressive misinformation campaign by stating Republicans “want to return us back to the same policies that caused the recession”. This is the biggest lie of the last four years. One that has been oft repeated since Nancy Pelosi, Barney Franks, Chris Dodd and Harry Reid first started spreading it the day Henry Paulson’s ill-advised, disastrous TARP bill passed through Congress. With the exception of Republican support for a bill to repeal Glass Steagall (a bill that enjoyed bipartisan support in the House and Senate before being signed into law by Bill Clinton in 1999) the legislation that created to the housing bubble was “progressive” social engineering in America’s housing market. That is what caused the world’s 2008 economic crash. The housing bubble that led to global fiscal meltdown is smothered in “progressive” fingerprints. From HUD, to the Community Re-investment Act, to “progressive” support of and Bill Clinton’s signature on the repeal of Glass Steagall, to “progressives” cooking the books at Fannie Mae and Freddie Mac, to “progressive” Senator Dodd and “progressive” Rep. Franks protecting Fannie and Freddie from regulation.

Plouffe said the White House did not declassify national security information recently leaked in news stories. When pressed on the issue of an investigation of the leaks being conducted by two U.S. attorneys, Plouffe stuck to his talking points, repeating “Everyone in our administration is going to cooperate with this investigation”.

http://www.politico.com/blogs/politico-live/2012/06/plouffe-obama-didnt-leak-information-126384.html

Of course, it would be much easier to believe what Plouffe and his boss are saying if they didn’t insist on continuously assassinating the truth in pathological fashion.

http://mjfellright.wordpress.com/2012/06/17/david-plouffe-truth-assassin/

Alex Wagner and Co. Wrong About Bush Record

NOW with Alex Wagner

The panel on NOW with Alex Wagner reverted back to the same bash Bush tactics the Obama administration, and that of the Democratic Party, have used to provide a buffer between the president and the criticism throughout this anemic recovery.  It’s been three years and Obama’s big government policies have only exacerbated our economic woes.  He has added trillions more to the debt, failed to reduce unemployment, and failed to curb our annual deficits.  Yet, in the panel discussion on June 8, 2o12, they touted Obama as having positive signs of economic growth, while Romney’s plan is “bushier than Bush’s” plan that got us into this mess.

The person who made these fatuous claims on the NOW panel was Princeton University Professor Justin Wolfers who stated “what we’re going to see—we’re going to see Romney talking about levels. So he’s going to talk about the level of the economy. The level of the unemployment rate. It’s at 8.2%. That is a bad economy. It’s a slump. We’re going to see on the other side, Democrats talking about changes. The unemployment rate is down two percentage points. And so every single talking point between now and November  I guarantee you  you’ll hear levels, changes, levels, changes.”  Where it gets hazy is when Wolfers claims that “the good news for Democrats is if you look at political science literature ,trying to predict election winners, changes predict who wins elections.  So the fact that he’s [Obama] brought the unemployment rate down, the fact the stock market is rising, the fact that employment growth is positive, all very strongly positive for the president.”

The stock market is rising, but as we’ve all learned, a high index on the Dow Jones does not translate into economic stability or signs of a recovery.  Hence, the correlation between the market and the unemployment rate.  Unemployment, until last August, was over 9% for 26 months.  It’s been over 8% for over 38 months. In addition, Mr. Wolfers seemed to have forgotten the fact that no American president, except FDR, has been re-elected with an unemployment rate above 7.2%.

Catherine Crier tried to create the dichotomy between the Obama and Bush economies by stating “in a dead economy–in a dead economy Obama has, I hate to say it the president has created jobs, as we avoid congress, but more jobs created—3 ½ plus million in the three years, than in the entire Bush Administration. Quoting in the Wall Street Journal the lowest ra—we dropped taxes, we cut taxes– Everybody’s doing great. No. Job creation went down the toilet–The housing crisis–go through all this and yet Republicans are proposing the same economic platform that got us into this mess. I’m not hearing the Democrats make that argument.”

Well, the reason the Republicans want this platform is because it worked. The Bush economy, via tax cuts,spurred 50 months of uninterrupted economic growth and created 8.1 million jobs.  In fact:

The CBO incorrectly calculated that the post-March 2003 tax cuts would lower 2006 revenues by $75 billion. Revenues for 2006 came in $47 billion above the pre-tax cut baseline. Here’s what else happened after the 2003 tax cuts lowered the rates on income, capital gains and dividend taxes: GDP grew at an annual rate of just 1.7% in the six quarters before the 2003 tax cuts. In the six quarters following the tax cuts, the growth rate was 4.1%.The S&P 500 dropped 18% in the six quarters before the 2003 tax cuts but increased by 32% over the next six quarters. The economy lost 267,000 jobs in the six quarters before the 2003 tax cuts. In the next six quarters, it added 307,000 jobs, followed by 5 million jobs in the next seven quarters.

Perhaps that’s why Democrats, leaving ineptitude out of the equation, are not making the argument against the “platform” that grew the economy. However, liberals remain unfazed.  Wolfers actually stated that  “I think on the economic side what he [Obama] needs to do is force Romney to actually define a plan. And right now if you actually read Romney’s documents, it really is like bush, but bushier.”  Therefore, Romney’s economic plan is the blueprint for destruction and the left should tie that in with the Bush record and run on it.  After all, according  Joshua Green of Bloomberg Business Week, the plan has “fewer details how it will be paid for and what he’s going to actually cut, which is he politically difficult thing to have to do.”  Professor Wolfers wholeheartedly agreed that “absolutely run against the Bush record. And the Bush record, was really a dreadful record to the economy. Average jobs growth under Bush. 11,000 a month. We’re talking about a slowing economy right now when we got 69,000 and call it disappointing today so.

So, the bar on economic growth has been lowered dramatically in the disappointing, some would say disastrous, performance of this president.  To change the narrative, it appears some on the left are trying to spin job creation that doesn’t keep up with population growth as a net positive for Obama.

The 2013 Tax Increase obama Pledged Would Never Happen

If the White House and Congress don’t act this year, a huge, unprecedented tax increase described by Ben Bernanke as a “massive fiscal cliff” will slam American taxpayers. This looming tax hike will result mostly from letting long-standing tax policies expire at the end of 2012.

Instead of waiting until after November’s election, obama should stop campaigning for a moment and start working with Congress to prevent this gargantuan tax increase from taking place. Not only would doing so give assurance to families, businesses, and investors that taxes won’t be rising while the economy is still staggering. It would also show that obama is capable of chewing gum and walking at the same time.

The tax increase, also known as “Taxmageddon” is a $494 billion hike. If action isn’t taken, current law dictates that seven different categories will witness expiring tax policies, while five new obamacare tax increases begin.

Approximately 34% of the tax increase come from letting the tax cuts of 2001 and 2003 expire. Best known for cutting marginal income tax rates, the reductions also lowered the marriage penalty, increased the child and adoption tax credits, while increasing tax breaks for the costs of dependent care and education. Contrary to “progressive” rhetoric, these taxes have a direct effect on the lives of people in all income tax brackets, not just evil rich people who “don’t pay their fair share”.

Another 25% comes from the expiration of the highly debated payroll tax cut. The expiration of a patch on the Alternative Minimum Tax, which prevents middle-income families from paying a tax intended for “the rich” accounts for another 24% of the hike.

The obamacare tax increases, hidden from public view by “progressive” deceit and delay tactics, begin kicking in with one of the most damaging taxes in the law, a 3.8% Hospital Insurance surtax on wages, as well as on salaries and investment income over $250,000.

To top that off, the so-called death tax also expires in 2013. The rate will rise from 35 percent today to 55 percent and the exemption will fall from $5 million to $3.5 million. Then there’s the end of the tax cuts contained in the 2009 stimulus and the expiration of full write-offs for new business capital investments.

Since 2007 obama has had an ongoing, oft repeated mantra: “I can make a firm pledge. Under my plan, no family making less than $250,000 a year…which includes a 98 percent of small-business owners, you will not see your taxes increase one single dime under my plan. Not your income tax, not your payroll tax, not your capital gains tax, no tax. We don’t need to raise taxes on the middle class! You will not see your taxes increased a single dime. I repeat, not one single dime.”

Never mind that he broke that pledge by signing a tax increase on tobacco in early 2009. As a mere voter, you’re too stupid to notice such minor, unimportant details. Move along, there’s nothing to see here.

Apparently the only one “smart” enough to realize that tobacco use in America is restricted to those with incomes exceeding $250,000 a year is the former community radicalizer from Chicago. You may know of him. He’s the one who’s entire college and medical history have been hidden from public view since the day he first infected the Oval Office with his faux transparency, un-kept promises, aggressively anti-American views, anti-business policies, war on religious liberties, attack on affordable energy, intentionally divisive identity politics rhetoric and non-stop campaigning for what would prove for America to be a disastrous second term.

If this is how he behaves while he’s politically obligated to mask his true intentions from undecided voters during an election year, the entire globe will live to regret an extended obama presidency for decades, in not for a century or more.

http://mjfellright.wordpress.com/2012/05/21/the-2013-tax-increase-obama-pledged-would-never-happen/

Progressive Tax Cut Extension Deal Reached?

The extension of the payroll tax cut through the end of 2012, will indeed contain another extension of the “emergency unemployment benefits, and the so-called medicare “doc fix payments,” according to a very sketchy article over at The Hill.com. This supposed “deal” contradicts Speaker Boehner’s earlier claims that House Republicans would put forward a clean tax cut extension bill  that did not contain the Greek-style social welfare legislative policies that continue to add to the nation’s debt. Speaker Boehner wanted to call Harry Reid’s bluff in passing a clean tax cut extension bill, but apparently the current crop of House Republicans still refuse to even attempt to get government spending under control, as can be seen by the currently reported “deal.”

A few details of the tax cut extension that have been released:

The text of the bill has not been made available for public viewing as promised, yet lawmakers are alluding to voting on it on Friday anyway.  That promise to the people to allow them to read the bills before they are passed has been broken several times by the Republican-led House, as can be seen here, and here. Barack Obama has also made a similar promise to allow the public to read the bills before passing them, which he too has also broken repeatedly. Remember the ludicrous statement that then Speaker Pelosi made about having to pass the bills before we can read them? Remember the public outrage?

Fox News reports on just who negotiated the latest Greek-style social welfare tax cut bill that will add an estimated 100 billion dollars to the deficit. (according to the above-linked Hill.com article): (emphasis added)

Democratic Sen. Max Baucus, the Senate Finance Committee Chairman, and Republican Rep. Dave  Camp, the House Ways and Means Committee Chairman, confirmed the agreement to  Fox News late Wednesday, capping a long day of wrangling over the final details  of the measure.

The legislation would continue a 2 percentage-point  cut in the Social Security payroll tax, renew jobless benefits averaging about  $300 a week for people languishing for long periods on unemployment rolls and  protect doctors from a huge cut in their Medicare reimbursements.

The measure carries a price tag of roughly $150 billion over the coming year, partly financed by new auctions of  telecommunications spectrum to wireless companies and by requiring newly-hired  federal workers to contribute more toward their pensions. The pension provision  was watered down from a version sought by House Republicans, and tentatively  agreed to by key Democrats, that would have required current federal workers to  contribute more to their defined benefit pensions.

Noticeably absent from the ‘negotiations” were any conservative politicians, thus this is referred to as “The Progressive Tax Cut Ext. Deal” of 2012. Once again, Congress has borrowed more money and added to the national debt by refusing to add offsets to pay for it. This pattern of irresponsibility brings the much-ballyhooed cliche’  pay-as-you-go (Pay-Go) that was spewed by Speaker Pelosi as a demand that all legislation be paid for before passage, to new heights of hypocrisy.  If the [supposed] summer of recovery has indeed turned this country around, then why would members of Congress continue to rape the Social Security fund to hand out another unemployment extension? According to Obama and the Democrats, they have added 4, 5,or 6 (depending which Obama speech lie you believe) million new jobs to the economy. Yet they still demand to give unemployed workers another extension of benefits.

More debt and deficit spending brought to America by the progressive members of Congress, as they brag about their happiness on reaching this “bi-partisan agreement.”

“Everything should not have to be a fight, and I am glad that most of my  Republican colleagues put the interests of the middle class ahead of politics to  forge this agreement,” Senate Majority Leader harry Reid said in a statement. “Americans expect us to put our  differences aside and find common ground. In the months ahead, I hope this shift  to the middle becomes the norm, rather than the exception.”  Yes indeed, adding billions to the trillion-dollar deficits is now being hailed as “progress” and “common ground” by Liberal Democrat Harry Reid. Doesn’t that make the hard-working taxpayers that have to foot the bill for all of this irresponsibility feel all warm and fuzzy inside?

 

 

Payroll Tax Debate: The Truth Comes Out in the U.S. Senate

On Thursday, Dec.1st the battle to extend the payroll tax holiday and unemployment insurance benefits reached new heights in the Senate, as not only did Republicans battle Democrats, but both parties saw raging fights within their own ranks over how to pay for the extensions, along with whether the tax holiday should even be extended at all. In the end, once again, nothing was accomplished

The Senate Republican bill won only 20 votes, less than half the GOP conference. The Democratic bill also went down in flames, 51-49, failing to muster the 60 votes needed for passage. The debates included back and forth rhetoric on whether the tax holiday actually has ever created jobs or improved the economy, the fact that the Democrat’s bill was weakening Seniors Social Security programs by lessening revenues. Here is a common sense question that will never be asked in the elitist halls of Congress during these debates: Why not give the holiday tax break to all of America’s workers by cutting federal payroll taxes, instead of SSI payroll taxes? (fica) That way you give the workers more money in their pocket, while at the same time keep funds coming into an already under-funded SSI program.

The Truth: Senate Republican leaders introduced a bill that would keep the payroll tax rate at its current level for another year. The cost is roughly $120 billion. Senate Republicans would offset most of the cost by freezing the pay of federal employees through 2015 and gradually reducing the federal work force by 10 percent. In addition, Senate Republican leaders would go after “millionaires and billionaires,” not by raising their taxes but by making them ineligible for unemployment compensation and food stamps and increasing their Medicare premiums. ← These facts are basically being ignored in the media today.

Fact: The Congressional Budget Office said the Republican bill would reduce federal deficits by $111 billion, mainly because of the pay freeze and the reduction in the federal work force.

Senate Democratic leaders want a deeper temporary reduction in Social Security payroll taxes. They would provide payroll tax relief to employers as well as employees. And they would offset the cost with a 3.25 percent surtax on modified adjusted gross income in excess of $1 million.  Once again, instead of working with Republicans to get our out- of – control spending under control, Liberal Democrats in the Senate want to grow government by taxing Americans more. Spend, spend spend is all these tyrants want to do, with no regards to fiscal sanity in any way shape or form. Here are a few quotes from the Senate payroll tax debate yesterday, that may surprise some of our readers:

After House Speaker Boehner alluded to the benefits of the tax holiday as, “I don’t think there’s any question that the payroll tax relief, in fact, helps the economy. You’re allowing more Americans, frankly, every working American, to keep more of their money in their pocket,” the Speaker added. “Frankly, that’s a good thing.”

To which, Senator Orin Hatch then responded, “If they could show me a lot of increases in jobs or something, that’s a different matter,” Sen. Orrin Hatch of Utah, the ranking Republican on the Finance Committee, said Wednesday. “But I don’t think they’ve been able to show that.”

Then we have a strong statement from Senate Democrat Joe Manchin: “Letting Americans believe that we don’t have to pay for Social Security is wrong. It is dead wrong,” Manchin said. “And I will not vote for it. Period. Under any condition.” Finally, common sense rears it’s long-forgotten head up in the Senate!

And finally, Senator Mark Krik (R – Ill) threw in another dose of reality: “I don’t think seniors should be based on a ‘trust us’ policy, that we’ll pay you back,” Kirk added. “And I would actually say even the political vote is to vote against this so that you’re for Social Security.”

Today, the House is supposed to come out with their own version of the tax holiday and unemployment benefits extension bill. The vicious cycle of the irresponsible debt-spending versus a fiscally responsible government-political-battle rages on with exactly no Presidential leadership anywhere to be found. Barack Obama is too busy waging class warfare in campaign fund-raising speeches on the taxpayers dime for the 70th time in 2011,… to actually concern himself with doing his job as President of the United States.

2012 just can’t get here fast enough!