Obama needs to heed sound advice
By William R. (Bill) Lesyna
President Obama ignores his own commission on revenues and spending.
There is much talk about the need for the federal government to increase tax revenues, and there are two primary ways to do that: increase tax rates or reduce deductions. Which way is better?
Lesyna retired from DuPont after 30 years as a consultant and engineering manager. He teaches mathematics at a local college and lives in Hardy.
December 20, 2012 - 7:44 AM
Why is Obama the only concern? Is Congress even on radar screens? Are we in truth some form of Monarchy? The power to fix this lies in Congress and they could do so without one word from Obama. Even his veto can be overcome. Pretending otherwise seems political to me.
“But Obama ignored the recommendations of his commission.”
You know who else ignored the recommendation of the Bowles-Simpson commission? Every single House Republican sitting on the commission, including Rep. Paul Ryan. The Bowles-Simpson plan would have eliminated just about every deduction (something Congress would never go along with). Also, Bowles-Simpson started with the assumption that tax rates would go up on those making more than $250,000 a year.
“On the related question of what to do about our runaway spending and unsustainable $16 trillion debt, Obama’s commission recommended $3 of spending cuts for every dollar of increased tax revenues.”
Uh, no. Actually, Bowles-Simpson> called for $2.6 trillion in revenue increases and $2.9 trillion in program cuts, $1.4 trillion of which we’ve already enacted.
It’s amazing how little conservatives who now claim to support Bowles-Simpson know about it, starting with the fact that conservatives rejected the plan before Obama did.
3 – but both sides ignored / rejected it.
Let the cliff come, says me.
Personally, I am at a loss to remember the last time Congress did everything, or even most of what one of the myriad Commissions over the years has recommended. Why it is Obama’s fault that the Congress does not do their job remains a much bigger mystery to me.
Dan, it’s amazing that anyone believes that there will be a single dime cut out of the budget. The “tax the rich” train keeps chugging along with no real offers of spending cuts. Dropping the increase in spending for programs from 8% to 6% is not a “cut” but that’s the same BS we have been hearing for years.
#6 “The “tax the rich” train keeps chugging along..”
…just like the “sock it to the poor and middle class” train keeps chugging along on your side, Nick.
It’s been said before, and deserves repeating: America’s highest rate of economic growth came when America’s richest 2% were taxed at a much higher minimum rate than they are now. Coincidence? I don’t think so.
I see that Repubs in Congress are quite capable of passing a defense budget that’s more than either the Pentagon or Obama asked for and that’s loaded with spending the Pentagon says is useless but which helps out the districts of some of those righties who say we need to cut spending. Imagine that.
#7 – Unlike the Dems in the Senate who STILL haven’t passed a budget in what? About 3.5 years?
Imagine that.
“Sutton’s Law”. The obvious place to gain the revenue is the place where most of the growth and profit have gone. It is not even complicated. When the income disparity is that obvious, it is not remotely a matter of ‘they just worked harder, smarter, longer or better’ memes. It is simply that the tax, business and economic structure favors those at the top. When you are looking for revenue, you go where it is. You cannot whine about the debt and deficit as if it was the Mayan Calendar of Apocalyptic events and then whine when revenue raising has to occur. Not if you want any kind of credibility that is. I seriously doubt the TP/R Party cares about credibility at all.
As to the lack of a budget, who is it we are kidding here? We cannot agree on what day it is and when to recess and you think budget negotiations is a worthwhile activity? The continuing resolutions will have to do until we have an adult, responsible, somewhat intelligent Congress again.
There have already been cuts, there is less spending going on, and there will be more cuts to come. The only real gripe the right has is that they have not crippled Social Security and Medicare yet, which was their goal all along. They will not take yes for an answer because the only answer they want is to destroy the safety nets. It is NOT going to happen.
That they would dare hold the entire nation hostage over the tax increases for 2% of this nation is ridiculous and yet, here we are. And you have the gall to complain about budgets being presented? When was the last time anyone in DC stuck to a budget? Or was even honest about what is in one?
7 – the hypocrisy is mind-boggling, isn’t it gdad?