Gary Wisenbaker: The "Read My Lips" Thingy
Though yet to be memorialized in any formal presentation, House Speaker Boehner is reported have capitulated to a tax rate increase on the top two tax brackets.
They must pay more, they're only shouldering around 37% of the tax burden as it is. The money needs to go to Washington, DC rather than to a payroll account. After all, the budget deal will include extended unemployment benefits to handle the layoffs and cutbacks required to meet the demands of the eurosocialist state.
Of the 7 proposals bandied about the "soak the rich and small business" option ranks 5th in revenue enhancement. The top revenue producer results in $2.5 trillion more to the treasury and is a VAT, value added tax, set at 5%. And we find its origins in....Europe! and the results are there for all to see: a robust economic engine with full employment. Or maybe not.
The fact that a VAT is even discussed in print should give us all pause for concern. More on this later.
Karl Rove, however, is probably right. This debate isn't about revenue. After all, we've never had a revenue problem, it's always been on the spending side.
This is about ideology. Will we have a vibrant free enterprise system distributing wealth via a robust economy or will we acquiesce to a state controlled economy deciding and (mis)managing what litter there is to distribute from a lethargic, no entrepreneurial economy?
Obama has Boehner where he wants him. Raising tax rates on any group accomplishes little. It doesn't address the fiscal problems nor solves them. What is does accomplish is taking a signature issue away from the GOP. It also blurs the distinction between entrepreneurial and American entrepreneurialism
Stop the madness. Stop industrial planning. Stop manipulating the economy with tax schemes. Stop using a 20th century tax code that rewards and punishes spending and investment decisions.
Eliminate deductions. Lower all tax rates. Repeal Obamacare. Free the American economic engine.
Boehner needs to read Obama's lips and he'll figure out what the president's really saying.