Thursday, December 6, 2012

Judge Napolitano on the Tax Shell Game Republican Leadership is Playing

The current stand-off between President Obama and House Leader John Boehner is a scam on two fronts.

1. The talks, limited though they are, about spending cuts are not serious. Government spending will continue to grow. The deficit will continue to grow.

2. The no increase in tax rates pose of Boehner and crew does not mean taxes will not go up. They are going to go up. They will be hiked at a different spot on your tax form.

Judge Napolitano comments:
The Republicans in the House are largely more conservative than at any time since Wilson left office. One would expect them to understand the intent of the voters who sent them there and thus say no to more taxes, no to more spending and no to more borrowing. Instead we have Republican leadership in the House that actually proposed raising more revenue by eliminating deductions on income taxes. They somehow claim that they are being faithful to their stated mission of fiscal conservatism by making you pay more money but at the present tax rates. They, too, have failed economics 101.

Any significant movement of wealth from taxpayers to tax consumers will not enhance prosperity; it will crush it, and it will breed dependence on a government that is fiscally out of control.

1 comment:

  1. The real fiscal cliff is not the one advertised.

    It is the fiscal cliff that will appear once the middle class realizes that the wealthy political class (Vampires) and the welfare class (Zombies) are wolves, and middle class are productive sheep. The recent election was about what (who) is for dinner.

    When the productive class' realization is widespread there will be much hand-wringing on what to do about it.

    The easiest thing to do is to stop working and collect welfare.

    That's the real fiscal cliff.

    This is why I tell my 5 year old that Vampires and Zombies are real.

    Conceptually, they are.