“I appreciate all the hard word that went into avoiding the so-called 'fiscal cliff'. I especially commend Senator McConnell's efforts to make the best out of a bad situation. Nevertheless, I cannot support the arrangement they have arrived at. Rapid economic growth and spending reforms are the only way out of the real fiscal cliff our nation is facing. But rapid economic growth and job creation will be made more difficult under the deal reached here in Washington. “
Thousands of small businesses, not just the wealthy, will now be forced to decide how they'll pay this new tax and, chances are, they'll do it by firing employees, cutting back their hours and benefits, or postponing the new hire they were looking to make. And to make matters worse, it does nothing to bring our dangerous debt under control.
“Of course, many Americans will be relieved in the short term that their taxes won't go up. However in the long run, they will be hurt when employers pass on to them one of the largest tax hikes in decades. Furthermore, this deal just postpones the inevitable, the need to solve our growing debt crisis and help the 23 million Americans who can't find the work they need.”
Why is it so hard for Republican leadership to repeat the same line from the second paragraph here? Raising taxes on the wealthy will necessarily result in hardships for the middle class because business owners (i.e., people who hire other people to work for them) will always, always, always look for ways to save money for their business. If forced to pay more in taxes, they will make up for that loss by cutting down on employees. It's oh-so simple.
And Breitbart is reporting that this shambolic deal equates to $1 in spending cuts for every $41 in tax increases. Nice work Senate Republicans. What is with elected Republicans who repeatedly allow Obama to steamroll and out maneuver them? Let's hope the House GOP has more spine.
Thomas Sowell summed it up nicely in this piece, appearing in National Review, entitled Republicans Deserved to Lose. Here's an excerpt:
But, to this day, the Republican establishment still goes for pragmatic moderates who feed pablum to the public, instead of treating them like adults.
It is not just Republican presidential candidates who cannot be bothered to articulate a coherent argument, instead of ad hoc talking points. Have you yet heard House Speaker John Boehner take the time to spell out why Barack Obama’s argument for taxing “millionaires and billionaires” is wrong?
It is not a complicated argument. Moreover, it is an argument that has been articulated many times in plain English by conservative talk-show hosts and by others in print. It has nothing to do with being worried about the fate of millionaires or billionaires, who can undoubtedly take care of themselves.