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June 07, 2006
EYE OF NEWT
by Tina Grazier
The revolutionary Newt Gingrich has been keeping his eye on the congressional left and warns today of a strange brew they're cooking up to convice voters they should be put back in charge of our money. Bubble, bubble, toil and trouble .......warns Newt:
"...the left knows it can't openly support a tax increase. So instead the left will attempt to steal conservative language and talk about 'balancing the budget'. But be warned, it's a step by step conspiracy to raise your taxes."
He then goes on to explain that they will:
1. Talk about how everything must be on the table to balance the
budget.
2. Declare that attempts to transform entitlements that include ideas
such as Social Security or Health Savings Accounts are impossible and should therefore be "off the table".
3. Talk about an incumbant bipartisan pork coalition that will
undermine spending controls.
4. Insist that for these reasons taxes must be raised.
I like to add that they will also be saying that tax cuts lead to increased spending, something called "Starve the Beast". This is statistically accurate but also misleading. A clearer picture can be found in an article by Nick Schulz called "Tax Cuts=More pending?" at National Review online. And may I also recommend a Heritage foundation article by Daniel J. Mitchel, Ph. D., "The historicle Lessons of Lower Tax Rates", from which I've taken the following quote:
"Harmful Spending & Complexity
Lower tax rates are important, but they are not the only critical issue. Both the level of government spending and where that money goes are very important. And even when looking only at tax policy, tax rates are just one piece of the puzzle. If certain types of income are subject to multiple layers of tax, as occurs in the current system, that problem cannot be solved by low rates. Similarly, a tax system with needless levels of complexity will impose heavy costs on the productive sector of the economy." The odor from the mixed brew of the current system and the "cure" that Democrats will propose should be enough to make all voters wary. At this time in our history 41% of Americans remain completely outside the income tax system. Of those, an estimated 91 million individuals who file will have a zero tax liability this year. We need answers that amount to more than simply "more of the same".
My thanks to Newt for the tip. It reminds me that my vote is vitally important and necessary for my own good...even if I have to hold my nose to do it.
Posted by Post Scripts at June 7, 2006 06:53 AM
Comments
So, 41% of citizens are outside the system? Mmmmmm, my first reaction is, that can't be good. That would mean the balance between givers and takers is not all that healthy.
Good article and I definately support TAX REFORM!!!!!
Posted by: Jack Lee at June 7, 2006 06:53 PM