While the mainstream media's hagiography of John F. Kennedy continues on the 50th anniversary of his tragic death, it's important to remember his full legacy - not just the parts that the mainstream media likes to promote.
With a divided Congress and deeply partisan president in the White House, gridlock within the Beltway seems as unavoidable as their legendary traffic jams. Yet throughout the country, Republicans hold strong majorities across much of the nation.
President Obama’s offer to Republicans to save the country from its fiscal cliff plunge is one big joke. Senate Minority Leader Mitch McConnell said he “laughed” when Treasury Secretary Tim Geithner, Obama’s cliff negotiator, unveiled it to him. Laughable is right when you consider the president’s outlandish request calls for tax hikes on higher earners, the one thing Republicans repeatedly have warned Obama, since day one of his presidency, were non-starters to any budget or deficit reduction talks.
Can the GOP really be this stupid? It appears many in the GOP Congress are suddenly willing to raise taxes. What utter fools. As Forest Gump's mother (played by Sally Field) said, "Stupid is, as stupid does." And this is world-class stupid.
If GOP politicians can't figure out any good arguments to oppose tax increases, I’ll give them a few.
During last Wednesday’s news conference, President Obama offered his plan for dealing with the looming fiscal cliff and expiring tax cuts. While the President claims he desires to work with Congress to reduce the deficit in a balanced and responsible way, he was clear that he intends to hold the middle class hostage in order to achieve his goal of increasing taxes on more successful Americans.
“Mr. President, on the fiscal cliff, two years ago, sir, you said that you wouldn’t extend the Bush-era tax cuts, but at the end of the day, you did. So, respectfully, sir, why should the American people and the Republicans believe that you won’t cave again this time?”
Before the election ballots were fully counted last week, equity markets were sending President Obama a blunt vote of no confidence.
Forget all the political pundits who were heralding his narrow popular vote victory as a mandate for his soak-the-rich tax agenda. The sour message from the investment community that fuels our economy spoke volumes about a fundamentally status quo election.
WASHINGTON -- No other issue is paralyzing the U.S. economy more than the unsettled question of where taxes are headed in the years to come.That question, raised by a tidal wave of expiring tax cuts that will hit most of us on Jan. 1, is the chief cause of the uncertainty that has swept through our economy, stalling business expansion, capital investment and job creation.
I can’t think of an issue that more perfectly captures the national debate than the one right now regarding the expiration of the 2001 and 2003 tax cuts. At the end of this year, current tax rates will expire and taxes will go up if nothing is done.
Dr. Thomas Sowell's "'Trickle Down Theory' and 'Tax Cuts for the
Rich'" has just been published by the Hoover Institution. Having read this
short paper, the conclusion you must reach is that the term "trickle down
theory" is simply a tool of charlatans and political hustlers.
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