Heritage Action is fighting the liberal assumption that responsible government requires high taxes. America has a spending problem, not a revenue problem. We take this fight seriously and highlight Washington insiders who act as if tax increases are harmless.
Some politicians suffer from the delusion that they have a monopoly on the definition of “fairness.” Nancy Pelosi is one of them. An expert at framing arguments on her terms, like her friends in the White House, she encourages Americans to view life through the lens of jealousy and the prism of greed.
In an interview taped on Friday with CBS’s Bob Schieffer, she falsely implied that America has only two options: tax the rich more or tax the middle class more. That’s it, America! Take your pick! Ms. Arbiter of Truth and Fairness and Goodness In General has laid out the two possibilities, now the ball is in our court. Of course, her interview actually illustrates the left’s lack of critical thinking perfectly. Liberals’ mantra ought to be: Don’t think, just feel.
When asked whether we’re done with taxes and revenue and should now concentrate on spending, her emphatic response was:
No, no, no, no. I… I… It is not. The President had said originally he wanted $1.6 trillion in revenue. He took it down to 1.2 as a compromise in this legislation. We get $620 billion in this legislation — very significant… changing the high end tax rate to 39.6 percent. But that is not enough on the revenue side. We’ve already agreed to a trillion dollars in spending cuts.
The age old expression “money doesn’t grow on trees” is clearly lost on most politicians. People in Washington spend our taxpayer money like it does grow on trees. The Daily Caller reports, “Green energy was a beneficiary” in the rushed fiscal cliff deal that passed the House January 1.
This is not a surprise, though, since President Obama has wanted this all along, a point he made clear in his post-deal victory speech that “companies will continue to receive tax credits for… the clean energy jobs that they create.”
Well, Obama and the spendthrifts in Congress got their way, but who will this help? Certainly not consumers and taxpayers.
The Joint Committee on Taxation reported that the wind industry got its production tax credit extended for one year, to the tune of $12.1 billion. And the wind industry doesn’t have to have even BEGIN producing electricity to get our money! Heritage’s Nic Loris and Katie Tubb explain:
Thanks to the new bill, wind and other renewable energy projects can receive the tax credit simply by starting construction by 2013, rather than once they begin generating electricity, as the law originally specified.
In his seven minute victory speech last night, President Obama doubled down, saying we can’t continue to cut our way to prosperity. Continue? I was unaware the cutting had begun. Instead, the goal is to tax his way to America’s demise. He espoused a number of untruths throughout the speech, but his central theme was painfully clear: I’m going to tax you more, America!
Throughout the supposed fiscal cliff negotiations, the absence any meaningful discussion about spending as our country’s real fiscal problem was glaringly conspicuous. Rather, the pendulum was swinging back and forth from Obama’s desired $1.6 trillion in additional tax revenue and a number of slightly lower numbers, finally settling at $600 billion in tax increases over ten years at the last possible moment. The Hill reports:
The 257-167 vote capped off a day of high drama in the Capitol, as Republican leaders considered and then quickly abandoned a plan to attach steep spending cuts to a measure passed overwhelmingly by the Senate early Tuesday morning.
Last night, some predicted the Senate could vote on the fiscal cliff deal – a $600 billion tax increase – without an official score from the Congressional Budget Office (CBO). Sadly, that’s exactly that happened. At roughly 1:40 AM, Senators took to the floor to vote on a 157-page that no one had seen.
In addition to increasing taxes, the emerging deal contains a host of other provisions, the details of which have yet to become public. Based on the information available, it appears there will be substantial conservative concerns with these provisions as well.
Conventional wisdom is that the Senate can easily pass a plan that increases taxes on those making more than $250,000. It’s not that straight forward, though. In July, two Democrats – Senators Jim Webb and Joe Lieberman – opposed a similar plan, which was universally opposed by Senate Republicans. Senators Webb and Lieberman had their own quirky reasons for opposing the plan, and it is unlikely such concerns will be resolved in any Senate-led gimmick. So, if such a bill is to achieve the 60 votes necessary to limit debate, Lieberman and Webb must switch their votes and at least seven Republicans must break ranks.