Democrats’ Budget Will Harm Economy, All Americans
Budgets reveal priorities, so it should come as no surprise the budget drafted by Sen. Patty Murray (D-WA) is pretty much a liberal dream. As Senators consider the Democrat Budget, though, they should understand it’s a nightmare for taxpayers and the economy. Even though the Democrats’ Budget contains a massive $1.5 trillion tax increase, it would still result in $7.3 trillion in new debt over ten-year budget window. This will definitely harm the economy.
There is little doubt raising their taxes even further would hurt the economy. Many families are struggling to make ends meet in today’s lackluster economy. Further slowing it down because Washington raised taxes again won’t make their struggle any easier.
President Obama may not think a debt crisis is looming, but his allies in Congress appear determined to initiate one sooner rather than later.
What makes this all the more egregious is that Americans do not have to pay this price. It is simply the obstinacy of liberals and their refusal to cut spending that needs to change. Yet, the Democrat Budget does the opposite, increasing spending by a whopping $162 billion in the next year alone. Again, Heritage states:
What we do have is a spending problem. Deficits will remain too high over the next decade because spending will remain well above its average.
Rather than focus on this true driver of our deficit and debt problem, Murray chose to largely ignore it and instead ask the American people to pick up the tab for the Senate’s refusal to get serious about cutting spending.
Liberals operate on the idea that the government is entitled to an ever increasing amount of your paycheck; that includes every middle class taxpayer. Whenever the Left talks about high-income earners “paying their fair share,” the middle class is not far behind. We saw this with the fiscal cliff where President Obama promised not to raise taxes on the middle class and then did. We saw it with Obamacare that hit the middle class with new taxes as well.
Similarly, just last year, Heritage explained that in 2013 marginal tax rates would increase, harming middle class Americans. State and federal taxes combined would amount to about 50 percent of your paycheck. Remember – for the government to give you money or other services, they have to take that money away from you first:
It is outrageous that any dollar earned by a middle-class taxpayer would go as much to taxes as to supporting the taxpayer’s family. The government didn’t earn the taxpayer’s paycheck and shouldn’t be entitled to it.
What is clear, though, is that Sen. Murray doesn’t see things this way. In discussing the budget process she said:
We will get out of the Senate. It’s very clear that the Republicans won’t do anything until the Senate passes a budget. [Paul Ryan and I are] the only two people in Washington who understand how hard it is to get a resolution across the floor. He laughed. And I am waiting to see if after this is done, there is a Paul Ryan who is willing to put revenue on the table.
Revenue comes from high-income earners, yes, but it also comes from the middle class and from small and large American businesses alike struggling to expand and employ more people.
If their budget is any indication, Senate Democrats are even less willing to reign in the reckless spending that got us in this fiscal crisis in the first place and to reform entitlement programs that consume nearly two-thirds of the federal budget. Tragically, liberals truly believe that they are better at deciding how to spend your paycheck than you are, and that is ultimately what is reflected by Patty Murray’s reckless budget.