Gary Wisenbaker Blog
Gary Wisenbaker
Lady Thatcher and the Obama Budget

Consider these quotes from Steve Sloan's recent article on regarding Obama’s recently released budget proposal: 

“It’s a tax that’s there for social purposes and therefore you accept the distributional impact”--John Buckley, Georgetown Law Center professor and longtime Democratic staffer on the House Ways and Means Committee.

“There’s only so much money you can get out of the upper-income brackets”—Dave Kautter, Kogod Tax Center, American University.

And so the 94 percent increase in the federal cigarette tax, which disproportionately hits those at or below the poverty line, is defended by the left and the justification for a middle class tax increase, it kicks in on those earning $184,000 (not $250,000), is explained by a tax policy wonk.

In other words, the White House doesn’t care who gets hurt so long as they get their money.

The conversation regarding the efficacy of utilizing the Sixteenth Amendment for purposes of social engineering is left for another day.  As to the later, it is an admission by the White House that Lady Thatcher was right, the problem with socialism is that pretty soon you run out of other people’s money to spend and you have to go deeper.

Oh, and that cigarette tax?, it goes to fund an “education initiative”.  Not toward Obamacare costs.  Not toward deficit reduction.  But fund more spending.  More cronyism.  And at some point there’s going to have to be a discussion about whether or not the federal government’s intrusion into education has done any good at all. 

Of course, Obama’s budget makes “the rich pay their fair share” to the tune of an average tax liability increase of $82,000 dollars.  These are not just couples with kids and mortgages.  These are small businesses, the “S-corps”, that are responsible for the bulk of the hiring that used to go on in this country. This bite kills at least two decent paying jobs. (Obamacare takes care of the rest.)

Its no wonder 66 percent of those recently polled see little or no hope for economic improvement over the next twelve months.

We need a White House and a Congress that is more interested in promoting private sector growth.  We need a White House and a Congress that believes more in private spending than in government taxing.

We need a White House and a Congress that believes in American capitalism rather than European socialism.


©2013 Gary M. Wisenbaker
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