Our View: It’s been said on hpe.com
From Our View on Jan. 6, “President got his tax hikes”:
After getting a bill raising tax rates on the wealthiest Americans and making other tax adjustments that together will raise more than $600 billion in revenues over 10 years, it’s time to see the president advocate for that “balance” he was talking about. It’s time for the president to stop the uncontrolled spending, and he’ll have ample opportunity as the federal government moves toward its next fiscal showdown over the debt ceiling. The fiscal cliff compromise legislation ended up being a tax bill. It didn’t address the federal government’s march toward financial disaster because of its repetitive spending and borrowing. Instead, the legislation delayed any significant spending cuts for two months.
• TaxpayerOne: It’s a charade and the president knows it. Assuming this tax hike doesn’t curtail investment and income, it will only bring in an additional $60 billion per year. That will run the government for less than a week, against a yearly deficit of $1.4 trillion and growing. It is impossible to raise enough revenue through tax hikes. There aren’t that many “rich” people left and they don’t have enough money to bail us out of our current deficit. Cuts are the only way to save us from bankruptcy. The government cannot be all things to all people.
• sickofdeficitdribble: Wrong. ... Cutting spending in a depressed economy is like bleeding the patient to try and save him. Structural reform needs to occur slowly. We will never become Greece because, unlike Greece, we control our own monetary policies. This hysteria over the deficit is misplaced. Full employment and healthy, equitable growth need to come first. Don’t cut spending!!!
• mrmike: Does anyone think that Obama is going to cut spending in any way, other than the military?
• Carol Hewitt: I’m sorry. Shouldn’t that headline read: “Voters got tax hikes that Obama promised them. It’s taken a very long time. We had to elect him twice before the loudmouths noticed that we meant it.” Whaddaya mean that’s too long for a headline?
• Bill123: Yes, let’s balance the top rate at 50 percent. The 91 percent that the GOP set in the 1950s didn’t cause Republicans to whine like stuck pigs, but they were patriotic, and they are mostly dead.