A Valentine’s Day Tax Hike
For some liberal politicians, love is blind – when it comes to raising taxes, that is. They are completely wedded to the idea that the best government is big government. A world where freedom rings and government is limited is an unfair abomination, an unfathomable nightmare for them.
As some members of Congress panic over the upcoming sequester, cuts which were promised back in August 2011, some liberal politicians can’t even get on board with Sen. Harry Reid’s (D-NV) plan to replace the sequester with an “even balance of spending cuts and tax revenues,” which would consist of a 1 to 1 ratio of tax hikes to spending cuts.
Sen. Barbara Boxer (D-CA) doesn’t hide her infatuation with taxes very well. She is among the group of extremely liberal senators who oppose a 1 to 1 ratio of tax increases to raised revenue but would instead prefer an 80-20 split – that’s a 4 to 1 ratio, for those playing along at home. She waxed poetic about her beloved tax increases that could occur “without any pain,” too. She said:
We’re looking at this terrific list of loophole closings, and it wouldn’t hurt anybody… We’ve already had huge spending cuts. Huge.
Sen. Reid would be wrong to raise taxes further, and those to his left would make an even greater mistake.
The Heritage Foundation’s Patrick Louis Knudsen explains that Congress must cut spending, not raise taxes. Sequestration – the across-the-board spending cuts required under the 2011 debt ceiling deal – is the law. Those savings amounts will occur automatically. Any attempt to increase spending above the levels set by the sequester is tantamount to a spending increase.
Congress should also then return to real budgeting, including setting priorities, especially for national defense.
Knudsen reminds us:
Government spending and debt are both too high, and this threatens all Americans with a weaker economy and a lower standard of living. Every opportunity to reduce spending and put the government on the path to a balanced budget must be taken. Anything less is a path to defeat.
There are many opportunities for spending cuts, and among the most important is eliminating funds that will go toward the costly programs set up by Obamacare.
Moreover, it is simply not true that there haven’t been enough tax increases. Indeed, “President Obama has already pocketed a $618 billion tax increase, so simply holding the line against taxes is a given.” Continuing to raise taxes is not the answer; spending reductions are the only way to get on a path to balance.
Getting on a path to balance wouldn’t just be fair, to borrow one of the liberals’ favorite words; it is absolutely essential.