Bill Clinton: No new taxes until economic upturn
This is so “Econ 101” I’m surprised it has to be stated out loud, but of course it does because the Democrats insist on raising taxes now. Bill Clinton, for heaven sake, on the David Letterman show last night:
“Should you raise taxes on anybody right today — rich or poor or middle class? No, because there’s no growth in the economy,” Clinton said on the “Late Show.” “Should those of us who make more money and are in better position to contribute to America’s public needs and getting this deficit under control pay a higher tax rate when the economy recovers? Yes, that’s what I think.”
I disagree with his final bit of collectivist nonsense, but his point about raising taxes now is simply common sense, something which seems to be in short supply on the left these days.
Look, the problem isn’t one of revenue, it’s a problem of spending. More revenue won’t solve the problem. It may slow the debt accumulation a bit, but until these yahoos face up to the fact that the rich aren’t the problem -they are -we’re going to see the same spending patterns that have gotten us into the mess we’re in now.
Like it or not, soaking the rich for more taxes won’t change a thing in terms of debt unless Congress kicks the spending habit and restores fiscal sanity. This class warfare meme the Democrats are running is just another version of kicking the can down the road because they want to spend just like the old days.
This nonsense is directly out of Karl Marx’s “‘Critique of the Gotha Program” which outlines this deadly principle of socialism – “From each according to his ability, to each according to his need.”
We continue to be told we’re not a socialist nation and we’re not headed in that direction, but observation and listening to what certain politicians say gives lie to that claim. The first part of the Clinton quote may be “Econ 101”, but the second part is “Marxism 101”.
We need to quit tiptoeing around and call it what it is.