We Do Have a Revenue Problem!

We Do Have a Revenue Problem!

Al Ritter

Of course our biggest problem IS a spending problem, but Obama will never admit that! Obama is correct though when he says that they are lacking revenue. Think of it logically and in an unbiased view and you will see what I mean.

The median income of America has dropped substantially in the last four years, and subsequently the same income drop has caused the tax income to drop. There is less money coming in to the coffers.

Now the discussion heads to…….”who was to blame?” Who really cares who was to blame at this point even though substantial evidence exists to support the idea that the Democrats are to blame for the bursting of the real estate bubble?

The fact remains now how to deal with the shortfall of taxes caused by them. Blame is one thing but solutions are something entirely different.

The economic principles practiced during the Reagan years became the corner stone of the Tea Party war cry. Art Laffer developed the “Laffer Curve” as a young economist that worked for Ronald Reagan. Ronald Reagan raised taxes, no question, but in doing so his economic team discovered quite by mistake that if the percentage of taxation was lowered (within reason) the money coming in actually increased. Kennedy had also discovered the same thing 20 years prior, but now finally Laffer had discovered the formula.

If you delve into his theory, you will find that the theory has a window of taxation percentage that is rather large. I’m not saying that Obama is entitled to take a higher percentage of our income for taxes, but I am saying that maybe a tightening of the tax loopholes should be left on the table for bargaining with, so that eventually we can lower income tax percentages.

We know that Obama’s aim in “taxing the rich” is merely class warfare, and that instituting those taxes on the rich at even 100% of their income would only pay for 8 days of government operation. These are the facts plain and simple, and yet he is fighting with this tooth and nail to force a wedge in between the classes.

What the house leadership needs to do is offer up a closing of loopholes, and maybe a small increase of taxes on those who make over $1 million a year or $1.5 million as a couple.

This could be the bargaining chip we need to make AFTER the sequestration kicks in to make Obama submit to massive policy cuts to entitlement programs that he has increased since coming into office.

To escape this horrible economic blunder started by the Democratic congress under George Bush, (there I said it) we need to play a chess game not a constantly reinforced “Mexican standoff” that leads to constant dead ends. Obama has caused this rift between sides, think back to when it started!

The art of politics is one of give and take between sides not that of constant stonewalling. We need to work together to return our country to some sort of sanity.

Of all the people to be the most upset in this debacle, it SHOULD be congress! They are the ones being bypassed through executive actions. They are being denied (both Republican and Democrat) their voice in the legislature, by an egotistical tyrant who only serves himself at the cost of others. Just look at the way he treats supposed friends in his own party…….they are merely a vehicle to get what he wants.

The faster they see him for what he is rather than to just blindly follow like sheep the faster we can get our country back!........Ok now all my Tea Party friends can string me up!