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Obamacare Implodes
May 15, 2013 | 41 comments
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Obama’s Rising Inequality
May 8, 2013 | 101 comments
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Downsize the Liberals
May 1, 2013 | 53 comments
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Fight Back! Privatize the FAA!
April 24, 2013 | 65 comments
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Fallacies and Charades
April 17, 2013 | 14 comments
A Further Perspective
Brazen Extremism
The Democrats’ breakout budget, not Paul Ryan’s restrained one, is what’s extremist and radical.
(Page 2 of 2)
Ryan’s proposed tax reform also includes revenue-neutral corporate tax reform, proposing to reduce the top federal corporate income tax rate from 35% to 25%, in return for closing corporate tax loopholes. America currently suffers the highest corporate tax rates in the world at near 40%, counting state corporate tax rates on average, except for the socialist one party state of Cameroon. Even the Communist Chinese feature a 25% corporate rate. The average in the predominantly socialist Europe Union is below 25%. Formerly Communist Russia now enjoys lower corporate rates as well.
But today’s Democrat party is rigidly in the same camp as the Socialist Party of Cameroon, competing for the highest corporate tax rates in the entire world. The Senate Democrat budget proposes no tax reform to reduce rates, calling instead for still higher taxes on American businesses and employers, which are already uncompetitive in today’s global economy with the current imposed tax rates. That budget also does not propose any new tax cut for the middle class.
The Camp-Ryan Republican tax reform bill will greatly aid in restoring long overdue, traditional American growth and prosperity, through lower tax rates providing incentives for increased productive activity. That increased economic growth will substantially reduce the deficit as well. CBO reports that every increase in economic growth of 0.1% reduces the deficit by $314 billion over the next 10 years. Increasing the weak, real, economic growth of around 2% over the last 2 years to a more traditional rate of 4% during economic recovery from a recent recession would consequently further reduce deficits by over $3 trillion over the next 10 years.
A further boost to booming economic growth would result from fundamental reform of monetary policy and the Fed, now championed by Joint Economic Committee Chairman Kevin Brady (R-TX) and Rep. Ted Poe (R-TX). Their proposed reforms would tie down Fed monetary policy to the value of long-term stable commodities such as gold. That would promote economic growth by assuring investors that the return on their investments will not be depreciated by inflation or a declining dollar. That along with regulatory relief would complete the package for booming economic growth as enjoyed under President Reagan.
Republicans and conservatives should use the Senate Democrat budget as the defining statement of Democrat party policy, to rout the Democrats in 2014, the same way they were routed in 2010.
Photo: UPI
About the Author
Peter Ferrara is Director of Entitlement and Budget Policy at the Heartland Institute, General Counsel of the American Civil Rights Union, Senior Fellow at the National Center for Policy Analysis, and Senior Policy Advisor on Entitlements and Budget Policy at the National Tax Limitation Foundation. He served in the White House Office of Policy Development under President Reagan, and as Associate Deputy Attorney General of the United States under President George H.W. Bush.
Von Mises Jr| 3.20.13 @ 7:09AM
Great article but the prescription is probably impossible for the next four years. Most people do not even realize how sick they are yet and not ready for the Caster Oil.
So first, we must point out how the sickness will progress. If you are not a high value employee, your employer may very well drop your health coverage so you will need to buy your own or pay a fine. When your employer's cost of burden necessarily skyrockets, you may lose your job. If you sell your house, you may pay a 3.8% ObamaCare tax on the sale price. If you inherit or die, your family Estate may be ravaged. If you already lost your job, you won't be getting one anytime soon. This is the sickness caused by the Senate Budget and ObamaCare.
Feel sick yet? Perhaps that Caster Oil won't be so bad after all.
The good news is that some of these maladies are already happening and will continue to get worse as ObamaCare is implemented. Pray that by November 2014 we have a lot of sick patients that want some Caster Oil and a shot of Penicillin.
davidh| 3.20.13 @ 12:16PM
Brilliant article. The key is the term "middle class". The democrats use it extensively to state their case. They lie. The middle class is paying for all this new spending.
Middle class is the term the democrats have used to move their agenda. They say the middle class needs to grow and be protected.
They have taken the position that they are protecting this large group and will make the rich pay.
Again look at health care. Middle class already had health care. So the Obama plan was not for them. Double our premiums to cover everyone and make it "cheaper".
We can win this argument.
Jack London| 3.20.13 @ 8:31AM
So the GOP is going to end all of the tax deductions/loopholes on the rich to pay for this without raising middle class taxes? Does anyone believe in fairies? Does anyone think Americans are stupid enough to fall for this after rejecting it at election?
squalis| 3.20.13 @ 10:02AM
The fantasy is believing this country has the resources to sustain the ever increasing out of control government spending. The fantasy is the expectation of an apology from the NY Times.
Pecos Pete| 3.20.13 @ 8:38AM
No budget will be passed and signed into law. We live in the land of Continuing Resolutions, Executive Orders and Fecal Govt. Lawlessness.
Led by a King and Queen who live large. King O has a taster for God's sake. I'd guess the Queen does too.
Al Adab| 3.20.13 @ 9:33AM
This proposed budget and the "progressive caucus" agenda are the most radical in our history. They represent a clear and present danger to the nation and its constitution which the office holders are sworn to protect.
TLP| 3.20.13 @ 10:50AM
When in doubt, duke it out.
The Jackass Party will never take one step backwards. Period. They either Hate this Country with every fiber of their being, or they've already made Arrangements for themselves and their Families, to live in some other Country when the Base of the Democrat Party starts Burning Down the Cities once we've run out of Other People's Money. I'm thinking that it's Both.
Does anyone Not waiting for a Sex Change, think that this is Sustainable? Does Van Halen really think that we can survive by Printing Funny Money here, and Borrowing a Trillion or Two of Real Money from the Chinese?
Does anyone believe that American Companies are just gonna sit around and wait to be Squeezed by this Food Stamp President and his "I got mine, Screw You" Senate?
If it was Up to Me? If I was the Speaker of the House? If I Controlled the Purse Strings, and could Shut Down whatever I chose to Shut Down? I would Use that Power while I still had it, cause there might not be a Tomorrow.
I would play the Halfrican's game, and Bleed his Voting Strongholds Dry. I would Defund all of their Pet Projects. I would make life Hell for His People, until they took it to the Streets. I would turn up the Heat, this Summer. Let's see how HIS PEOPLE like being the Sacrificial Lamb.
Arnie| 3.20.13 @ 11:32AM
"I would play the Halfrican's game, and Bleed his Voting Strongholds Dry. I would Defund all of their Pet Projects. I would make life Hell for His People, until they took it to the Streets."
TLP, most of the American public already knows you guys feel this way about them, and we already know that you do bleed Democratic strongholds and assistance in the name of maintaining mansions in Florida and New York, and bank accounts in the Caymans.
This is why you guys are hated. Approval of your party hovers around 20-30%. This is why you lose elections. In the name of making the rich richer, and the poor poorer, your party is going to lose until you remedy this situation and start focusing on improving the lives of the middle class and poor.
Obama has had only 4 years, and only 2 with a cooperative Congress to change this scenario. Not many of the Democrats expected him to turn around the country in 4 or even 8 years after the 30 years of conservatism (read plutocracy philosophy) that waged war on the middle class and the American worker.
Al Adab| 3.20.13 @ 12:21PM
Arnie pooh:
What 30 years of Conservatism? We have had one Conservative President in the last 90 years. Like all you people in the opposition you equate republicans with Conservatives. They are not the same.
Plutocracy? It is The Left that finds ways to pad their own nest at the expense of their constituents. Conservatives understand that the purpose of a free nation is to allow the opportunity for all to rise to the top. Some will and some won't but it is not the purpose of government to choose who those might be.
Perhaps if your unstated wish comes true Obama will be president for life and continue to bloviate and make empty promises while promoting greed, envy and resentment. Have a great life in that world.
sickofit5| 3.20.13 @ 12:27PM
How did you catch your disease? I am not even sure you will be cured when you begin to see how Obamacare is going to treat your parents or maybe you are at that medicare age where you will learn first hand. If it were not going to be so painful for all of us it would be fun to watch your outrage and disbelief.
JD| 3.20.13 @ 12:28PM
The key to Leftism's advance is for Leftism to get its way while convincing the public that the Right is actually getting its way.
Part of doing that is stating that anything that a particular Leftist dislikes can only be right-wing. Another part is declaring that by definition, all bad results are right-wing.
Sixgun| 3.20.13 @ 1:23PM
Arnie... the only one bleeding us dry is the Federal government with their outlandish confiscatory tax rates.
Jim Adcox| 3.20.13 @ 11:57AM
Well, you have nailed the liberal cant: It is abusive, dishonest rhetoric . . . “extremist” . . . "radical.”
alice921| 3.20.13 @ 12:26PM
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Sixgun| 3.20.13 @ 1:21PM
Am I the only one who thinks Ryan's budget spends too much... automatic 3.4% increases each year is ridiculous considering the Federal government keeps telling us the CPI is less than 1.5%. Why does Federal spending increase twice as much as the official Federal inflation rate? We need to stop increasing Federal spending and start "reducing" Federal spending. Now that would be a real "radical, extremist" position....
cicero| 3.20.13 @ 3:43PM
The problem comes when the Feds think that all the money spent last year was spent wisely, and that therefore, we have to spend at least that much again. The Federal Govt. is bloated. They write and sing about suffering when some useless beaurocrat is told to take a furlough day - July 5 - without pay. Obama came into office, and immediately hired 400,000 new federal workers. Since then, they have all gotten raises every year. A good first step would be to fire 400,000 federal workers - fire, not furlough. That budget should be cut by 3.5% every years, not expanded.
The test for federal spending should be whether you, the taxpayer would voluntarily pay for the program. If not, shut it down. As far as the continuing resolution, if they can't come up with an acceptable budget after 5 years, shut it down. No more continuing resolutions. If the Govt. and the newspapers/media shut down at the same time, most of the ocuntry would not be aware of the demise of either. And the quiet would be conforting.
Marc Jeric| 3.21.13 @ 4:29AM
Lyndon Johnson left us wih these two major accomplishements:
1) He placed our Social Security contributions into the congressional general spending fund, and replaced those real moneys with worthless IOU's; and
1) He invented hunger in America (at that time he claimed that 12 million of us go to bed hungry every evening) and originated War on Hunger by inventing food stamps (my questions are, as with every war: a) what is the definition of victory, and b) what is our exit strategy; now we have 47 million people on food stamps (wrong - these are demeaning and have been replaced with credit cards). We also have a huge problem of obesity, particulary in minority households, if we are to believe Michelle Obama and Mayot Bloomberg.