I’m beginning to think they do, and that one word is “tax”.
Proposals I have heard from Democrats (ok, liberals in some cases—I assume they’re Democrats, but maybe not) this week.
- The Buffett Rule – This is a variation of AMT, which already exists. It would apply a minimum tax rate of 30% on individuals with income exceeding a million dollars per year. It would raise about $6 billion per year. And it’s not even supposed to reduce the deficit. President Barack Obama (D-USA) has new spending ideas for that money. He wants to spend it on “clean energy”.
- Student loan rates – Senate Majority Leader Harry Reid (D-NV) says that we can pay for keeping student loan rates down by raising payroll taxes on small businesses.
- To fix the imminent collapse of Social Security, ThinkProgress proposes eliminating caps on payroll taxes.
- Obama wants to end tax breaks for big oil. Never mind that they already pay more in taxes than just about any other industry, and never mind that this will only increase the price of gas even further.
Of course, these are all in addition to the new taxes coming in 2013 that will hit almost every single American. I’m talking about the new taxes from ObamaCare and the end of the Bush tax cuts. If you’re middle class, the cost of this is going to be several thousand dollars for you, each year. I’ve figured mine and it’s about $8,000. That’s close to $700 per month. I don’t know about you, but there are not many places in my monthly budget where I can find $700. Probably means no new cars for me and my wife for a while, and more hand-me-downs for my younger daughter.
And don’t forget there’s the often discussed VAT tax.
Libs, I get it. You don’t believe in supply side economics. The Laffer curve makes you laugh. But, surely there’s some point where even you can say to yourself, “Wow, that’s a lot of new taxes. How are people and businesses going to be able to pay those?”
Republicans in Congress, this is why the Tea Party was formed. Remember, it stands for “Taxed Enough Already”. And this is why you can’t give in on any of the Democrat demands on taxes. Because it’s never enough. It will never be enough.
This list is insane. And in the end, it’s still going to destroy the economy, anyway. We have to stop asking ourselves “how do we pay for this?” and start asking ourselves “how can we spend less?”