Whose Money Is It?

The Bush tax cuts are set to expire and when they do taxes for everyone will go up. The Democrats failed to do anything about the issue prior to the election because they were worried that they might offend voters, not that it made any difference. Now it is up to the lame duck session of Congress to fix this problem before it goes into recess for the year. Taxes will already rise on 1 January because the information needed to accurately withhold taxes must be in early or pay systems can’t make the necessary changes.

So the Congress is supposedly working furiously to get this done. There is a sticking point. Obama and his leaders in Congress only want to extend the cuts for individuals making under $200,000 and joint filers under $250,000. Republicans (and some less senior Democrats) want to extend the cuts for everyone. Barack Obama is not on board with this idea:

Obama favors renewing the tax cuts only for those at or below those level, saying the nation cannot afford to renew them for wealthier Americans. al-Reuters

The nation cannot afford to renew them for the wealthier Americans? Whose money is it? Obama acts like the benevolent government was gracious and allowed people to keep more of what they make but now it is owed back. The reality is that the government takes our money regardless of what tax rate is used. IT TAKES OUR MONEY.

What does he mean we can’t afford it? Renewing the tax cuts will not add one dime of debt to the government because the rate will stay the same as it has been since the cuts took place. What Obama means is that government wants more money and allowing the cuts on the wealthy to expire will allow government to confiscate more.

The problem is not the amount of money the government gets in taxes. It gets plenty. The problem is that government keeps spending too much. It mismanages everything. Look at Social Security. Workers have paid into that system and the money was put into the general fund and spent. Now they want to raise SS taxes and increase the cap in order to afford the bill. In effect, we are paying for SS twice. We paid for it when the money was withheld and we now have to pay to make up for the misappropriation of what we paid in. If it had been put away we would have plenty to pay the bills.

No, Obama is a big government liberal and he wants more money and he will raise taxes on the wealthy to get it.

Perhaps he should learn what a balanced budget is and learn how to live within the government’s means.

We are not an ATM for the government.

Cave Canem!
Never surrender, never submit.
Big Dog

Gunline

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2 Responses to “Whose Money Is It?”

  1. Blake says:

    First off, these are not “Tax CUTS”- this is our money, not the government’s- so it is just keeping the money at home- not a bad deal when we are at low ebb, financially- but in the larger picture, government does it’s best when it is being starved fiscally- it, like the people it is supposed to govern RESPONSIBLY, has to act smarter, with less- and this could actually lead to a government that finally knows its place in our lives, which would be off to the side, out of our way.
    If it were to do that, it might actually find that tax revenue has actually gone up, because business would improve MARKEDLY in that atmosphere.

  2. Ogre says:

    The government has unlimited money. Just look, they’re in the process of printing another trillion dollars so they can spend it. They just gave away $4 billion to farmers based on the color of their skin.

    ANY time Congress and Obama claim they don’t have money for something, they are openly lying now. They have, in their mind, unlimited funds, they’re just trying to decide who to give it to. Miserable bastards, the lot of them.