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The Stupid Democrat Debt Plan

I have to hand it to Obama, he is the king of clever lines -- "Eat Our Peas." In three little words, he has reduced the incredibly brave arguments of John Boehner and all of the fiscal conservatives who are risking their political lives to save the United States to that of a impudent child who refuses to clean his plate -- how regal?

Meanwhile, Obama and his senate cronies keep pushing a budgetary menu that's about as healthy as Chicken Fried Steak, Home Fries, and an Ice Cream Sundae.

"We have a Revenue Problem"

Senate Budget Chairman Kent Conrad took to the floor yesterday and launched into a passionate cry for massive tax increases:

"Revenue today is 14.8 percent of GDP -- again, the lowest it has been in 60 years. If we look at the last five times the budget has been balanced in the last 50 years, here is what we see: Revenues had to be close to 20 percent of GDP. They were 19.7 percent in 1969, 19.9 percent in 1998, 19.8 percent in 1999, 20.6 percent in the year 2000, and 19.5 percent in 2001. That is the last five times the budget has been balanced. Each of those times, revenue was close to 20 percent of GDP. Now it is 14.8 percent of GDP. Anyone who seriously argues that you can solve this problem just on the spending side of the equation is not being serious."

Kent Conrad Website

I actually agree with Conrad, we do have a revenue problem, but it's not because our tax rates aren't high enough; we have the highest corporate tax rate on earth.

And contrary to the dem rally cry -- it's not because our wealthy don't pay their fair share -- our top 25% of all wage earners pay 86% of all federal income taxes.

We have a revenue problem because Obama and his congressional democrats have declared war on private sector businesses and investors.

Since taking over congress in 2007, the democrats have taken spending from around 18% of GDP to over 24% and never looked back. They have never passed a budget and when any rational person questions this criminal behavior, they only have one answer -- raise taxes on the rich and businesses!

Big Taxpayers are Leaving Town!

A few weeks ago, I wrote two stories that fully document the Fiscal Armageddon that has been brought forth by the policies of Obama, Pelosi and Reid. compared the deficit situation in the United States under Obama to that of Greece a mere 2 years ago (see: 4 Lessons American Voters Must Learn from Greece). And I pointed out that $15-20 trillion in private wealth has left the country to avoid Obama's plans to raise their taxes.

And, in a piece called US Corporations Retaliate Against Obama's Anti Business Policies I reported that 30% of new businesses in America are choosing to incorporate in another country; again to avoid Obama's anti-business tax spree.

Stupid is as Stupid Does

The massive exodus of big taxpayers is not a secret to Obama and Conrad, they know all about it. But when they tell the American people that they can stop it by raising taxes, they are flat out lying. One of their plans has been to double tax multinational corporations on profits made overseas. Obama floated this idea since he first came to office and Steve Ballmer, the CEO of Microsoft (perhaps the most successful tech firm in America) told him that he would take his company to Canada if he didn't drop the idea.

Yet, Obama and Conrad keep talking about this stupid idea like it's a solution. No wonder the unemployment rate is up and tax revenues are down; that's what you get when you have stupid leaders; eat our peas, my ass!

Dave

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The Stupid Democrat Debt Plan
Tuesday, 12 July 2011

Who Stole My Career?

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