Thursday, December 13, 2012

Everyone knows that cutting spending means reducing tax breaks...

Representative Eddie Bernice Johnson is part of the problem. Recently she was on Neil Cavuto's show and he asked her what she would cut if the decision was hers, she insisted that this crisis was about revenue generation. Again, he asked her what she would cut and she replied again, this was about revenue generation, then she added that the budget is already down to its bare bones. (Yeah right!) Finally she answered the question....sort of...she said that she would cut the tax breaks for the wealthy. To his credit Cavuto informed her that that's not cutting spending and she proceeded to ramble on about the nation's budget being down to the bare bones (again!).

Now...I don't know what she's smoking but we are far from bare bones. There's still fat to trim when we're still spending billions on pork. We need to decide what's important and what isn't and then we have to make cuts. A lot of those cuts won't be pretty but something has to go. 

Anyway, getting back to Eddie Bernice Johnson, she needs to be reminded that lower taxes stimulate the economy by promoting spending and investing both of which directly contribute to the recovery of the economy. No government can successfully end a fiscal crisis permanently by raising taxes. Spending cuts must be part of the solution in order for it to even be a solution at all.

If you think for a moment that raising taxes on one percent of this nation's wage earners and not cutting spending is going to solve the crisis, then we are already doomed.

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