Folks, it is not a revenue problem, it is a SPENDING problem. Look at these two charts. The first shows that revenue, in constant dollars has TRIPLED in the last 50 years. That's great news...
Meanwhile, spending has more than QUADRUPLED over that same time, in constant dollars. Congress has proved, year after year, that if you give them a dollar, they will spend $1.25 or more. they have no control over their appetite. And, yes, I blame Congress because regardless of what the President PROPOSES in spending, it is Congress, primarily the House, that DISPOSES of the money.
Heritage Foundation makes some good points about what John Boehner is about to do and why it is a bad idea:
- Higher tax rates discourage all the activities that lead to a stronger economy. That’s even something Obama acknowledged when he signed legislation preventing a similar tax hike two years ago.
- Dollar-for-dollar tax increases and spending cuts — Boehner’s plan — won’t fix what’s broken. Spending cuts, not a $1 trillion tax hike, should be the GOP’s focus.
- After two years of running the House, there’s still no clear plan how Republicans would cut spending. Even as of this late date, they have provided few real guiding principles or details on spending reforms. It’s the $800 billion question.
- Relinquishing control over the debt limit to Obama for a year would take away one of the only points of leverage for conservatives. It ensures no meaningful reforms will happen in 2013.
Speaker Boehner can be stopped, if his fellow Republicans in Congress refuse to go along with him. You need to contact your Republican Congressman and urge him/her to vote against any increase in taxes. Raising taxes to balance the budget has never worked, and it won't work now. Find your Congressman below and click on his/her name to link to their contact info:
Amash, Benishek, Rogers, Upton, Huizenga, Camp, Miller, Walberg.