Shoving Us Over the Fiscal Cliff: Obama Blocks Tax Reform – Tea Party Nation

Shoving Us Over the Fiscal Cliff: Obama Blocks Tax Reform – Tea Party Nation.

Posted by Seton Motley

Note: This first appeared in the PJ Tatler.

 

President Barack Obama’s scant involvement with the Fiscal Cliff negotiations has been limited to his rigid insistence that the tax rate on the nation’s job creators be raised from 35% to 39.6%.

 

Tax reform – as a general principle and a way to raise revenue – is a presidential non-starter.

 

Now.  Last year, the president said this:

 

“What we said was give us $1.2 trillion in additional revenues, which could be accomplished without hiking taxestax rates — but could simply be accomplished by eliminating loopholes, eliminating some deductions and engaging in a tax reform process that could have lowered rates generally while broadening the base.”

 

Funny, that’s what House Speaker John Boehner just proposed.  $800 billion over ten years in additional coin for the realm.  By loophole-eliminating, code-simplifying – and thus job creating – tax reform.  Not via job-killing tax rate increases.

 

And the President’s tax hikes will kill jobs – 710,000 of them.  While only raising the same $800 billion over the next decade.

 

Do not misunderstand – this is not a defense of Speaker Boehner’s revenue raise.  The Feds don’t have a revenue problem – they have a spending one. Read more of this post