Sunday, April 17, 2011

The Community Card Review - XXVI

Keep in mind that the Democrats had two full years of TOTAL control to constitutionally enact a budget – but kicked the can down the road. Now the Republicans are trying to do their constitutional duty that the Democrats punted on, and the Democrats second-guess, backstab and whine the entire time.

The Democrats did not dare announce a budget that QUADRUPLED the nation’s debt with ABSOLUTELY NOTING to show for it. They just did it WITHOUT telling the American people about it first.

As President Obama lies to the American people again with his speech on the budget, just take a look at a new document called the 'People's Budget.' It's the product of the Congressional Progressive Caucus (CPC), a group of Democrats in the House. Again, where was the Democrat’s when the Democrats had full control?

The CPC is not a small outfit; the caucus has 76 members, about 40 percent of the 192 Democrats in the House. Not that the non-members oppose any of the People’s ‘budget’. They just differ on how fast to implement it.

Reps. Barney Frank, John Conyers, George Miller, Charles Rangel, Rosa DeLauro, Jerrold Nadler, Louise Slaughter and others. In other words, the Progressive Caucus (actual proclaimed Socialists and Communists) -- about three times bigger than the ‘moderate’ Blue Dog Coalition – so it is no fringe organization within the House.

The 'People's Budget' is the liberals' answer to House Budget Committee chairman Paul Ryan's 2012 budget proposal, which Democrats say is 'leading us down a road to ruin' ... The 'People's Budget' ... would eliminate the deficit in just 10 years," and wait 'til you hear how!

"The 'People's Budget' ... would eliminate the deficit in just 10 years (Ryan's plan would take more than 25 years)" to do it, they say, while the People's Budget would be "expanding, not cutting, Medicare, Medicaid and Social Security.”

“This budget saves the American people from the recklessness of the Republican majority,” Grijalva and Ellison write in a letter to Rep. Chris Van Hollen. I remind you the Democrats had TWO FULL YEARS to announce a budget – as they were constitutionally supposed to - and they didn’t do it.

How can such fiscal miracles be accomplished? By tax increases that would make even Stalin gasp. Perhaps the most extraordinary is the caucus plan to raise the Social Security tax to cover nearly all of a taxpayer's income.

"Right now, the tax [FICA] is imposed on the first $106,000 of earnings. For people who make more than that, the caucus would tax a full 90 percent of income..."

That is $9 of every $10 earned after $106,000 of earnings. This is before any other federal, state or city taxes have been added.

So for every dollar earned above $106,000 you make, the tax rate would be effectively 100%. The the Social Security tax rate. FICA. So if you make $206,000 dollars, $100,000 of that would be taxed at 90% - just for the Social Security tax. Every dollar over 106 grand is taxed at 90% no matter how high it goes, no matter what your income.

The caucus would also create three new individual tax brackets for the highest incomes, topping out at 47 percent. It would also raise the capital gains tax, the estate tax and corporate taxes.

"It would create something called a 'financial crisis responsibility fee' and a 'financial speculation tax.' And of course it would repeal the Bush tax cuts," which Obama proposed in his last speech - after agreeing to them in December – and stating the tax cuts were necessary just to keep the worst economy since the Depression where it is. Now Obama proposed we get rid of them.

Who will be starting businesses, expanding businesses and hiring people a tax rate like this? Who will produce one thing over what it takes to make $106,000? Why would anyone put forth the effort?

It is “Atlas Shrugged” being played out right before our very eyes. Every innovative job creator will simply shut down.

The Progressive Caucus is just an offshoot of the Socialist Party of America. They are a bunch of, for all intents and purposes -- you call 'em socialists, but they're -- communists. How about "The People's Budget"? It sounds Maoist. It sounds like something Mao Tse-tung and the Gang of Four would write.

If anyone needed reminding, the 'People's Budget' is proof that the liberal idea of budget balancing is tax, tax, tax. If you're looking for spending cuts, you'll find just one really big one: national defense.

The liberals would end the wars in Iraq and Afghanistan -- starting in 2013. They would save more money by 'reducing strategic capabilities, conventional forces, procurement, and research & development programs for the military. In other words, they would gut the United States' ability to defend itself, today and long into the future.

Obama agrees with everything in the Progressive Caucus' People's Budget. He just can't come out and support it "openly" the way the authors do, but he and the rest of that bunch loves it. Democrats must always lie about their true intentions, or they could not win an election as a dog catcher.

Democrats hate defense, want to raise taxes on everybody, and jobs would only come from working for government. This is exactly what they believe. It's exactly what Obama wants to accomplish. Enjoy your slave chains comrades.

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