I am sure that you have heard of our President’s budget proposal by now. Let me start with some overarching observations from my conservative views. The first would be that this budget achieves NO savings. The progress it makes on the deficit is thru tax hikes. It spends a trillion more and taxes two trillion more so that it ends up with a deficit reduction of one trillion over 1o years. Not exactly a dramatic attempt to solve our spending crisis!
President Obama says we must examine “wasteful spending thru the tax code”. what he means by this is that if the government lets you keep MORE of YOUR money this is wasteful spending! It gets back to the idea that there is no such thing as private income. All income is really the government’s, and if they let you keep more than they should that is somehow “wasteful spending thru the tax code”! Get a load of that! And let’s pop a couple of other deceitful ideas the President is constantly promoting.
One is that these tax increases on “high income earners” will really hit the multi millionaires and billionaires. Do you really think Bill Gates or Warren Buffet clock in every day and get a paycheck? Well, they don’t! Most of the high earners make their money thru investments that are taxed as capital gains, not W4 income! So who gets hit by this tax? Actual working people like doctors and dentists, working professionals that may be at the peak of their career in their middle 50’s, finally able to put some money away for retirement and along comes Uncle Sam! And if you live in a place like New York City or anywhere in California what is just a middle class income there will make you “rich”! His tax increases start with incomes of $190,000 for single earners or $230,000 for married earners!
Now, there is this idea of tax breaks for companies that “ship jobs overseas”. Have you ever asked yourself what that phrase means? Our President is talking about taxing the income of companies that operate outside our borders. It is worldwide understood that if a company operates in a foreign country and PAYS TAXES THERE, we don’t tax those profits again when they bring them home. But the President wants to do exactly that. In other words, these profits cannot be brought back to the USA to create jobs here without being taxed again! And that is going to help stimulate investment here? Please!
So where are the budget cuts he is touting as so painful? The President has cut the budgets of a handful of governmental agencies that he increased by huge amounts to a slightly more realistic size, and called these cuts “painful”. Many of the government agencies saw 20, 40 and even 100% increases in their budgets when the President came to office. Now he cuts here and there by 10% or so, and calls these cuts “painful”!
Finally (for now), President Obama also wants to increase taxes on energy producers. Now, do you think your gasoline prices are too low? Do you think we should further (if possible) damage our ability to provide for our own energy needs? Well our President does and intends to make it even MORE difficult and expensive to produce energy domestically. If you didn’t get to hear it, he even said at his press conference today that fossil fuels are energy stocks “of the past”! Well… he is certainly doing his best to make them unaffordable if that is what he means!
Bottom line is that this budget reflects that President Obama has not moved an inch from his liberal beleifs and programs. With this President, it is ALWAYS wise to watch what he does, and ignore what he says. This budget reflects his continuing vision that only thru government can we have prosperity, that green energy is the only energy we should be using, global warming is real…etc.etc.etc. So hang on and be prepared to support conservatives in congress wherever you find them! This conservative views the ongoing budget battle as another way to smoke out the “real Obama”. The turn to the middle is illusory, and his spending priorities highlight that. Now the question becomes can we find enough Republicans with conservative views to stop the madness? Stay tuned!