On Revenues, Obama Has Just Begun To Fight - David Limbaugh Wonders If GOP Leaders Will Really Battle Prez Over Spending Cuts
David Limbaugh * WND
Senate Minority Leader Mitch McConnell tells us the tax issue is behind us and that we can now move on to spending. Really? What makes him think the GOP will succeed this time when it couldn’t last time?
The just-concluded fiscal-cliff deal included no material spending cuts, which the GOP justified by saying it had achieved locked-in rates for most of Bush’s tax cuts, which would force Obama to seriously discuss spending cuts and entitlement reform as part of the upcoming debt-ceiling negotiations.
But a White House memo announcing the deal said that postponing the sequester for two months “will give Congress time to work on a balanced plan to end the sequester permanently through a combination of additional revenue and spending cuts in a balanced manner.”
Does that sound as if the White House has satisfied its appetite for further “revenues”?
The memo is not the only evidence of Obama’s intention to further punish producers. After the deal, he said, “Cutting spending has to go hand in hand with further reforms to our tax code so that the wealthiest corporations and individuals can’t take advantage of loopholes and deductions that aren’t available to most Americans.”
We should be concerned because this deal didn’t just raise income taxes on the wealthy. It raised capital gains, dividends and estate tax rates, as well as phasing out the personal exemption and deductions for individuals making $250,000 and couples making $300,000, which can add up to serious dollars. What further squeezes does Obama intend to impose?
Read more at WND:
http://www.wnd.com/2013/01/on-revenues-obama-has-just-begun-to-fight/#G6hXRuPuqtUeZ3hm.99
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