Harry Reid’s Sense of Shared Irresponsibility
It has been 797 days since Senate Democrats passed a budget plan. Last week, President Obama shamed Harry Reid’s (D-NV) Senate into cancelling its July 4th recess so they could get serious about the debt and deficit reduction. Of course, Senate Democrats still don’t have a budget.
This afternoon, the Senate began debate on their “plan”: S.1323, a purely political non-binding sense of the Senate resolution:
Sense of the Senate- It is the sense of the Senate that any agreement to reduce the budget deficit should require that those earning $1,000,000 or more per year make a more meaningful contribution to the deficit reduction effort.
The bill has no specific recommendations on how much taxes should be raised on high-income earners, and is simply a recommendation that these taxpayers pay more.
Not only is Harry Reid’s “plan” non-binding, it contains absolutely no details. The resolution is purely political, serving as a basis for political ads and to launch class warfare rhetoric. We’ve said time and again, increasing taxes will not solve our spending problem. And currently low tax receipts (thanks, recession) are no excuse to raise taxes.