Tax and spend


Democrats revert to the old familiar pattern
Here's the number one problem I have with the Democrat party. They just can't raise taxes fast enough. Robert Novack gives the details.

The new Democratic majority begins dancing the next phase of the tax-and-spend minuet in the House of Representatives today. Following the example set by their Senate brethren last Friday, House Democrats will adopt a budget resolution containing the largest tax increase in U.S. history amid massive national inattention.

Nobody's tax payment will increase immediately, but the budget resolutions set a pattern for years ahead. The House version would increase non-defense, non-emergency spending by $22.5 billion for next fiscal year, with such spending to rise 2.4 percent in each of the next three years. To pay for these increases, the resolution would raise taxes by close to $400 billion over five years -- about $100 billion more than what was passed in the Senate.

It had been assumed that the new Democratic majority would end President Bush's relief in capital gains, dividend and estate taxation. The simultaneous rollback of Bush-sponsored income tax cuts was a surprise. This reflects Democrats' belief that they can survive a long-term commitment to bigger government. Here is an audacious effort to raise the banner of fiscal responsibility while increasing spending and taxes.

Why is tax and spend such a bad thing?

Good question, and I hope you are paying attention.

It goes back to the role of government. The root word is govern, to restrain, to slow down, to guide, to control, to regulate.

In other words, government works by RESTRICTING. It can't build, it can only loosen the restrictions.

All that money that is collected in taxes is money that is diverted FROM the private side of the economy to the public side. That is the first loss. The second loss isn't as obvious, but it is deeper in the long run. Not only is the private side vastly more efficient, but it carries profit potential. The public side is liability only without any hope for positive cashflow.

Once taxes are collected, only the people propping up the system benefit, and then only at the expense of everyone else.

— NeoWayland

Posted: Fri - March 30, 2007 at 07:30 AM  Tag


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