Thursday, May 14, 2009

The Method to Pay for the Government Money Madness, Part II

The Cap and Trade version, courtesy of Betsy's Page:
The administration might talk about turning some of that money back to taxpayers, but they can't turn back much of it because they're planning on using that money for more of the massive spending that they're anticipating for his health care plans.

Even liberal economists recognize the deep risks of raising taxes in the middle of such a weak economy. Just calling it cap and trade to disguise that it is really a tax increase for every household won't avert the effects.

We'll be reading story after story in the future about how the government didn't reap the anticipated revenues. And you can point your finger right now at these tax increases to explain why this recession will continue.
This after testimony before the Senate Finance Committee by Congressional Budget Office Director Douglas Elmendorf which said that cap and trade will increase the tax bill for American households by an average of $1,600 per year. Oh, yeah that is average which means that higher tax brackets will pay more.

You can't spend trillions of dollars without a plan to find ways to get that money back. By spending so much money, the Obama Administration is basically dictating that anything and everything that can be taxed, will be taxed.

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