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Sunday, December 12, 2010

Tax Rate Compromise - A Conservative Victory?

Is may be too soon to talk about this since nothing has been voted into law, but there seems to be a solution to the impending tax increases.

Newt Gingrich, from American Solutions, sent out an e-mail claiming this is our first conservative victory….”Last night's tax compromise between President Obama and the GOP is good news for the economy, and is proof that elections do matter. If the Left had won on November 2nd, there's no doubt that this deal wouldn't have happened. But the GOP leadership stood by their promise to prevent a massive tax increase on the American people.”

Really?! Just how firm did the Republicans stand for no more tax increases or no more wasteful spending or spending that we cannot afford?

New commentators are falling all over themselves saying this proves Obama is a Statesman and has demonstrated his ability to compromise. Not really. Obama proposed an increase in the death tax,….what was it?..something like a 35% tax on assets over 5 million? At any level this is an abomination on the American People. Imagine a rancher having assets over $5 million, tied up mostly in the land and his stock. The rancher dies, his wife or children have to sell off the cattle and some of the land in order to pay the death tax! This is not only government re-distribution of wealth but Government confiscation of property without due process.

Obama not only proposed the death tax increase but another one year extension of unemployment benefits. Are you kidding me? Get fired or layed off, which is a terrible thing, but now the government is going to fund your unemployed period for up to 3 years?.....another massive government spending program without the funds to back it up. We cannot continue to spend money we don’t have. Some people are predicting a collapse of the dollar, and hence this country, within 6 months if we don’t take massive course correction now.

Plus, Obama did not go willing to his proposal for compromise. He is under extreme pressure from such notables mutts as Harry Reid and Nancy Stretch Pelosi (and others) not to compromise. Obama got in his lying licks too when he call Republicans “hostage takers” holding the American people hostage in order to secure tax cuts for the rich. Tax Cuts – really? No, you idiot this is keeping the tax rates at the status quo.

One thing that is over looked in the whole tax debate is just how fair is it for someone to bust their butt building a business or enterprise then getting taxed at a higher rate. We need the fair tax.

Jim DeMint (R-S.C.) says that extending unemployment with paying for it and increases the death tax was unacceptable – and I for one am thankful that one of the conservatives we voted in, is standing pat on the values that got him elected.

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