Quote:
Originally Posted by Villages Kahuna
If you choose to go back and check my posts during the election campaign, I for one proposed that the debate between the two candidates as to who would cut taxes the most was absolutely ridiculous. Even before the depth of the financial crisis became better known, I was proposing that taxes had to be increased, not decreased.
If taxes are increased, with the decline in tax revenues cited by BobFL above, combined with the continued deficit-producing spending by Congress, the tax increase I predicted is inevitable. As I've said before, the fact that the federal tax rates are near an all-time historical low hasn't escaped the attention of those in Congress who might see the need for increased revenue.
Bucco, this isn't a problem that can be placed on the doormat of this President or even this Congress. They have both continued the spending practices of elected officials before them, going back at least a decade. One big difference is that the earlier spendthrifts did so in the environment of strong economic conditions, not the financial crisis and unemployment that exists now.
What's sad is that it doesn't appear that any of these elected officials will be among those that really change this spendthrift behavior. Chances are that the majority of the 435 need to turn over before much will happen. Even then it'll be pure chance that we get some replacements that really are fiscal conservatives.
|
I did NOT lay this at the feet of this President; in fact, I said "...
and that is not to say the same thing would not have happened whomever was in the WH.."
NOR do I doubt what you said during the campaign, and remember you saying something to that affect...
My point is...THIS President was VERY VERY clear on this subject....and that was foolhardy...he should not have done that, but he did. He was even more clear that the first Bush on this and said it many many more times.
Now, perhaps it will not come to fruition and that will make us all happy !
Yes I AGREE totally about the spending the last 10 or MORE years, and we need to change what is going on in congress. I am one that believes the MAKEUP of the congress RELATIVE to the WH philosophy is very important!!
Not sure if that makes sense but from that came my "perfect storm" phrase during the campaign. To the point made by many on here....congress has to be changed in 2010 ~~~
PS: I must add this PS...although I agree in general with your comments VK on spending in the last 10+ years, the one that sort of chokes me is approx 60/70 % of the so called stimulus bill....THAT was spending that was not necessary and we were tricked. But, in general I agree