No New Taxes!
“I have said it already, I am convinced that the way to build a new and better world is not capitalism. Capitalism leads us straight to hell.” Hugo Chavez
“…right now everybody’s so pinched that business is bad for everybody and I think when you spread the wealth around, it’s good for everybody.” President Barack Hussein Obama
The “Gang of Six” is back. That’s too bad. We can only pray that Republican leadership in the Senate does not crater. There is no doubt that the debt ceiling issue needs to be resolved. We need the rating agencies and sovereign states to have their full confidence in the strength and longevity of the US dollar restored.
Democrats like to point back to George H. W. Bush’s “no new tax” pledge as a data point for how the current debt ceiling crisis should be handled. For the record, that famous reversal that led to:
–yes, new taxes, but what you don’t hear is that for every dollar in new taxes, President Bush extracted four dollars in spending cuts,
–back stabbing of a good man (President Bush) by democrats and members of his own party,
–loss of a re-election campaign, and
–lastly, (and yes, ironically) outstanding economic growth that was handed to the incoming President.
Guess what the outrageous budget deficit was that President Bush sought to tame? Are you ready? It was $200,000,000,000. We think that must just about pay for the First Lady’s overseas travel budget these days. The point is that comparisons to 1990 are moot. President Obama has increased our deficit by more than the total deficits left behind by all Presidents who came before him! We now are saddled with a $1,400,000,000,000 annual deficit, and a $14,000,000,000,000 national debt.
The country MUST stop spending so much discretionary (and non-existent) money. And the electorate MUST accept that there is no more free lunch.
Opine Needles will be very disappointed if the Republicans in the Senate crater and agree to a package which allows for an increase in our debt ceiling while also containing provisions for new taxes. The United States cannot tax its way out of debt! The United States needs to stop spending money it does not have, and it needs to GROW its way out of the remaining deficit. All legislation should be aimed at encouraging investment in our economy. And the way to encourage investment in our economy is to give comfort to those with the capital that their efforts will be rewarded. As we have said before, where there is risk, there must be reward.
The Obama administration has repeatedly made it clear that those who have achieved success in the United States must be punished. Risk takers have a duty to give up their reward so that those who have not taken risk may be rewarded. Opine Needles has been very consistent on this point as well. If you agree with the President with regard to his redistributionist philosophy, you really need to consider leaving us for another country. We do not suggest this with any heightened sense of vitriol. We are trying to help! We suggest Cuba, Venezuela, or any number of failed western European socialist nation-state experiments. You will feel much more at home there.
Meanwhile, back at home, the clock is ticking. We are at a turning point. We have a chance to turn that clock back on this horrendous march toward economic destitution. Opine Needles prays for firm Republican resolve. It’s not about politics. It’s about the very viability of the finest experiment in freedom ever conducted on our planet. Keep your fingers crossed.
More to follow-