‘Fiscal cliff’ distracts from real tough choices ahead

As Congress and the White House continue to bicker over how to avoid the “fiscal cliff” and fill the nation’s massive budget gap, they fail to address the larger, long-term problems facing our nation. Instead of taking the opportunity to spark meaningful reform, both sides are gridlocked over the most politically expedient method for beating the December 31 deadline.

The Progressive rallying cry to make the rich pay “their fair share,” might make for a good sound bite, but when we look at the numbers, it’s quite clear just how uninformed many politicians are on the issue. Accounting for federal income taxes and tax credits, the richest 5 percent of Americans paid almost 30 percent of taxes in 2009. In fact, the wealthy have always paid a large percent of the overall tax burden. What’s surprising however is that the government’s total tax receipts are about the same in relation to the overall economy, regardless of tax rates.

Raising taxes on the those making over $250,000 would solve about 5 percent of the long-term budgetary mess we face, yet it has consumed 95 percent of the debate. The long-term liabilities of Medicare and Social Security, paired with unsustainable defense spending, are spiraling out of control, and instead of finding a way to curb and reduce entitlements, Congress and the White House are caught up in a political game of chicken.

Military spending has increased over 90 percent since 1998 as America drastically expanded its defense of other countries. The U.S. now accounts for 48 percent of the world’s military spending, expending resources to aid countries that are more than capable of defending themselves. Over the next 10 years, the Military should be able to shave close to a trillion dollars by spending less to defend these countries. This would lead to less of a burden on U.S. taxpayers, and ultimately more security for all as other nations invest in their own defense.

Read more at The Hill.

Comments

Comments

  1. @LoudAmerican says:

    It’s not just progressives who are saying to pay FAIR taxes.
    Like earlier today on local news they were talking about electric costs will be going up … BUT stocks are returning better profits.

    … forget the poorer people for your low taxed returns and YOU WONDER why they vote Democrat?

    … of course you do! … as the profit margin has destroyed American economy by shipping jobs to poor countries for a PROFIT and illegals are allowed to remain here to force middle class wages down FOR PROFIT.

    I am all for profit – but ALL revenue needs to pay the same tax … it’s time to get back to JUSTICE and stop finagling the rescue of revenue for JUST US!

    This mentality is driving a wedge between one side from the other!

Polititainment

Billy Joel: Obama smoking story 'untrue'

After a report emerged from a source for The Hill newspaper that Joel on a trip to Washington, D.C., claimed that he recently smoked a cigarette with President Obama, the musician is now denying the story.

Pharrell: Brown's actions 'bully-ish'

Musician Pharrell Williams said in a recent Ebony magazine interview that President Obama "should have gone down" to Ferguson to address the situation.

Billy Joel smoked with Obama

According to one of The Hill's sources, Obama invited Billy Joel to have a cigarette with him when the musician made a recent trip to the White House.

Beckham's catch = Obama's executive act

You know it is.

'SNL' remakes Schoolhouse Rock
“Saturday Night Live” hit today’s political process right on the nose during the show’s cold open. Spoofing Schoolhouse Rock’s “I’m Just a Bill,” Kenan Thompson as the bill tried to explain how he becomes a law. But before he can make his way  to President Obama’s desk to be officially signed into law, Obama beats him […]

White House

White House claims Obama is ‘not a media critic’

The White House doesn’t really seem to have a problem contradicting itself, so maybe this latest whopper shouldn’t surprise us.

Obama uses turkey pardoning to joke about his executive action on immigration
This is one executive action President Obama is sure won’t ruffle Republicans’ feathers. In fact, he’s so sure of that fact that he decided to make a joke during the annual turkey pardoning referencing his unprecedented use of executive action to grant amnesty to 5 million illegal immigrants. “I’m here to announce what I’m sure will […]
Poll: Americans split on Obama’s immigration order
Americans are sharply split on their reaction to President Barack Obama’s recent executive actions on immigration that will essentially give amnesty to about five million undocumented immigrants,according to a new poll. The latest Quinnipiac University survey released Tuesday found that 45 percent of voters support the president’s move, while 48 percent opposes it. Support for […]
Eric Holder stresses that federal investigations in Ferguson are not over

Attorney General Eric Holder released a statement Monday night assuring rioters that the Justice Department still has two investigations to complete in Ferguson.

Obama appeals for calm after Ferguson decision

WASHINGTON (AP) — President Barack Obama appealed for calm and understanding in Ferguson on Monday after a grand jury decided not to indict in the death of Michael Brown, pleading with both residents and police officers to show restraint.

Congress

Pelosi and Obama versus Schumer and America

This is like one of those times a member of a professional wrestling posse turns heel on national television and sets off the drama.

Rand blames 'politicians,' drug war in Ferguson

Sen. Rand Paul’s Time op-ed on Ferguson Tuesday blamed politicians for creating “a culture of violence” through the War on Drugs, and urged Ferguson protesters to “channel your frustration in ways that will make a positive change.”

Why are House Members exempt from ethics training?
Two U.S. representatives are questioning a curious practice on the Hill that exempts House Members from ethics training. But it doesn’t look like they are getting much support from their colleagues that enjoy this perk. Reps. David Cicilline (D-R.I.), and Scott Rigell (R-Va.), are urging congressional leaders to end the House exemption on the annual ethics […]
Paul calls for formal declaration of war on ISIS

Sen. Rand Paul wants Congress to formally declare war against ISIS.

The fallout from Boehner not owning a dog

President Obama's offer to smooth over an immigration reform compromise with Speaker John Boehner has turned out to be a case of barking up the nonexistent tree.