Saturday, August 6, 2011

Senate Majority Leader First to Use S&P Downgrade as Justification for More Government Taxation

Senate Majority Leader Harry Reid (D-Nev.) issued a statement late Friday stating that the downgrade of U.S. government debt.... 
reaffirms the need for a balanced approach to deficit reduction that combines spending cuts with revenue-raising measures like closing taxpayer-funded giveaways to billionaires, oil companies and corporate jet owners. This makes the work of the joint committee all the more important, and shows why leaders should appoint members who will approach the committee’s work with an open mind - instead of hardliners who have already ruled out the balanced approach that the markets and rating agencies like S&P are demanding.
This is the first statement from inside Congress. By the time the nonsense is over, they'll be singing choir like from inside the House chamber on the need to raise taxes to protect Treasury debt from further downgrades. Not one verse in their singing will bring up the idea of selling off government assets as a way by which the debt can be reduced.


  1. I'm tellin' Ya, The terrorists are going to enact a VAT tax using this "crisis". This has been planned for a long time...Since Dear Leader Bush II at least.

  2. Anon 5:18,

    Hmmmm. let's see.... Since it's been demonstrated that revenues plateau at about 22% via income tax, they'll couple a "cut" in income tax at around 25%, with a VAT tax of a mere 5% (at first).
    Voila! 22% to 30% and they'll be giving you a BREAK!!!
    Nah, they'll never do that. They're here to HELP us.
    P.S. don't hold me to the exact figures. I'm not an economist. I work for a living. :)

  3. bob, what does it mean to "sell of government debt" and how do we go about it?

  4. @ Mike

    I meant "assets", corrected.

  5. Capn Mike...It is obvious to people who work for a living that you work for a living.

    1/2 the tax cattle don't pay income tax and the rest pay the 40%. With a VAT they can steal more from the 1/2 that don't pay and the "rich". If you were a bankster/political terrorist, what would you do?

    Yes...A slight reduction in income tax to appease the upper 50% and a low initial VAT of perhaps 3% so all the tax cattle won't be too angry.

  6. When did this viral obsession with "corporate jets" develop ?

  7. If you want to understand where the global bankers are taking you - look at Europe.

    40% Income Tax (steal from productive effort)
    20% VAT (steal from productive efforts and consumption. This is NOT only a consumption tax since tax is added all thru the production process. Hence, value add tax).
    $4.00 / gallon motor fuel tax and ever more "Carbon taxes".

    They want to own 70-80% of everyone's life like they do in Europe. People who want to live off the system without contributing (Like the PIIGS) will be eliminated. Brown-Shirt Fascism has won. You will assimilate. Resistance is Futlie. I am Serious.

  8. The Global Elitist Terrorists will also impose:

    1% Real property tax (in case you think you can live free in a cabin in the woods, Not allowed)
    "Food Safety" laws (they will throw you in a cage for growing food)
    "Gun and Hunting" laws (They will kill you if you try to feed yourself)

    Read up on Abraham Lincoln, Benito Mussolini, Adolf Hitler, Joe Stalin to understand what these terrorists have in store for you.

  9. These parasites use "Corporate Jet Owners" because it has been shown in their focus groups that saying this upsets the envy-ridden little people (who are the voting majority). That's all.

  10. The jet thing reminds me of the Carter era "luxury surtax".
    Seems it killed the yacht and plane business and threw thousands out of work (I'm talkin' blue collar guys).
    Of course the rich guys who would have been customers bought overseas.
    Talk to an old timer in Wichita or New England.