Obama’s tax plan appears quite appealing
After a brief flirtation with some semblance of sanity and common sense, Republicans are up to their old tricks.
Sen. Saxby, after boldly proclaiming his loyalty to America as opposed to some 20-year-old oath, groveled before Grover, apologizing and repenting for his impure thoughts. Speaker Boehner, after extending an olive branch of support for increased revenue, stuck that branch in the president’s eye, trotting out Romney’s budget proposal, replete with tax cuts for the rich.
How soon they forget there was an election, who won and who lost. Americans roundly rejected Republican budget proposals, in favor of increased taxes on the wealthiest. Even many Romney supporters agree, this is where the money must come from. And rightfully so, as this is where the money is.
Tax receipts, devastated by Bush’s tax cuts and economic collapse, have plunged to historic lows near 15 percent of GDP. Expenditures, due to rampant unemployment and the ensuing great recession, have increased to more than 22 percent. Most third-graders could cipher, you need to increase revenues and decrease expenditures to a more historic 18 to 19 percent range. It’s not rocket science, except in the hallowed halls of Congress.
Corporate profits are at all-time highs, more wealth is owned and income earned by the “1 percent” since the robber barons ruled, while the “99 percent” suffer the calamitous consequences. Where do you go for the money to balance the budget and pay down the debt?
I guess that depends on whether one subscribes to the political philosophy of Ayn Rand or Jesus Christ. Or, whether one is just grateful for all the advantages provided by such an exceptional country, capable of creating such mind-boggling individual wealth.
Per Ecclesiastes 5:9, “The profit of the earth is for all.” Makes President Obama’s tax proposal appear pretty appealing.
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