Quantcast Other Than This...
Search by tag or site Login to my blog ? Start my own blog














TheMoneyBlogs
Home
About
Create your own blog
Contact us
Vote for this blog!

Poor and Stupid

How big government, big business, big media and big academia block your road to financial freedom- and tell you it's for your own good.

Other Than This...

Posted on 03/21/2007 19:28 PM | Link | Post Comment
...the Democrats' proposed federal budget is pretty good. Congressman John Campbell (R-CA48):
Their budget proposes the largest tax increase in American history - The Democrat's budget calls for a tax increase of every tax bracket, slashes the child tax credit, raises the death tax, and reinstates the marriage penalty. And this is just a sampling, there is more. In all, the Democrat's plan will cost taxpayers over $390 billion in the next 5 years. What is particularly frustrating about this ill-advised action is that the Democrats are blatantly ignoring the economic consequences and fiscal benefits that lower taxes have brought to the treasury the past few years. Revenue has increased in double digits the last two years alone because of the economic expansion encouraged by reduced taxation. This revenue growth has been crucial in reducing the deficit. The Democrats refuse to recognize this, though, and instead they just want to tax us to death. This is a recipe for disaster.

Their budget proposes massive increases in spending, expansion of government - As highlighted above, revenue is not the problem, out of control spending is the problem. The Democrats, however, don't seem to care. Their singular goal is to spend more and make government bigger. In that spirit, their budget is calling for a $42.5 billion increase in non-defense spending this year. Yikes.

Their budget proposes no offsets to pay for these increases - Despite these huge increases, the Democrats offer no way to pay for them except by raiding Social Security and raising taxes. This is completely irresponsible. Governing is about making tough decisions and ending governments programs that are ineffective and wasteful -- even if they sound good. Their budget, however, has expansion across the board regardless of effectiveness. Hardly fiscal responsibility.

Their budget proposes no fix to the AMT - In spite of their continued talk of fixing this increasingly oppressive tax, they have done nothing and are allowing it to continue to grow and adversely affect more taxpayers.

Their budget proposes no entitlement reform plan - The Budget Committee has heard testimony from several witnesses warning of the unsustainable growth of entitlement programs likes Medicare, Medicaid, and Social Security. Repeated experts have said that if entitlements are not reformed, in the very near future, the budget will either be completely consumed by them, or Congress will have to double current tax levels. Do we really want to saddle our children and grandchildren with our debt? The Democrats apparently do.

Their budget proposes no accountability standards - With all of these increases in expenditures, the Democrats are conspicuously silent on all the current waste in the federal budget. Instead of making the government more efficient with what it is already operating under, they are just calling for more money. I do not know of one business that operates in such a backward fashion. We need to promote efficiency and accountability -- not just blindly sign away taxpayer dollars to useless government programs.

Stock Quote or
Examples
ATM Wallstreet - Sat Oct 04, 2008 10:41PM
When I first started Day Trading I traded anything that [read more]
Morpheus Trading - Thu Oct 02, 2008 08:58AM
NOTE: Please click on the charts below to enlarge them if [read more]
Morpheus Trading - Wed Oct 01, 2008 08:38AM
NOTE: Please click on the charts below to enlarge them [read more]

PREMIER SPONSORED LINKS

Most Visited Blogs | Most Popular Blogs | Most Recent Blogs | Contact Us | Terms and conditions | Privacy Policy

The columns, articles, message board posts and any other features provided on TheMoneyBlogs.com are provided for personal finance, education and investment information and are not to be construed as investment advice. Under no circumstances does the information in this content represent a recommendation to buy, sell or hold any security. The views and opinions expressed in an article or column are the author's own and not necessarily those of TheMoneyBlogs.com and there is no implied endorsement by TheMoneyBlogs.com of any advice or trading strategy. The analysts and employees or affiliates of TheMoneyBlogs.com may hold positions in the stocks or industries discussed here. Your use of this and all information contained on TheMoneyBlogs.com is governed by the Terms and Conditions of Use. Please click the link to view those terms. Follow this link to read our Editorial Policy.

Copyright © 2008 The Connors Group, Inc.