Wednesday, November 17, 2010

The Hike Taxes Propaganda Intensifies with Very Heavy Duty Bait and Switch

The Bipartisan Policy Center, a think tank which includes such DC pests as former Federal Reserve Vice Chairman Alice Rivlin and former Republican Senator Pete Domenici, is out with a paper calling for, get this, a 2011 Social Security tax holiday. That's right no Social Security Taxes in  2011!

Just keep in mind these bastards are trying to reduce the deficit. A $650 billion cut in SSI isn't exactly moving in the right direction. It's not that I'm against tax cuts, the more the better, but this SSI "Holiday" is simply bait and switch for tax hikes far beyond $650 billion.

For starters, the paper also calls for a soft drink tax. The soft drink tax, according to the paper, should be"an excise tax on the manufacture and importation of beverages sweetened with sugar or high-fructose corn syrup."

The plan would also kill the mortgage interest and charitable contribution tax deductions and replace them with a 15 percent refundable tax credits (More bait and switch that provides a tax break for Obama voters, who don't make charitable contributions, at the expense of those who do.)

And here is the real kicker, the paper calls for a 6.5% Debt Reduction Sales Tax. They also want to (after the one year SSI Holiday) raise SSI taxes for the next 38 years! How about we reverse that? Pay SSI in 2011 and take an SSI Holiday for the next 38 years.

This will be the format of any future deficit reduction plans: Headline grabbing tax reductions, with heavy duty tax increases after the headlines. Beware of the Bait and Tax.

No comments:

Post a Comment