The Democrat's Five Percent Surtax Solution: Nonsense

The Senate Democrats are at it again. They are proposing five percent surtax on taxpayers with a million dollars in income. A surtax is a tax on a tax. They say it would raise enough revenue in the next 10 years to pay for the Obama proposed jobs bill. It will not pass, of course. It is not meant to pass. It is meant to continue to promote a futile and bankrupt notion that Stimulus Part II will solve the economic doldrums. It was meant to blame the economic malaise on someone else.

It is spending today with a promise to pay back. It reeks of politics and shows how serious little constructive effort is being attempted to address the problem. It also shows a rejection by the President’s own political party for his plan to “pay “for his economic program. It is a gesture that needlessly further widens the political divide. Perhaps the Senate Democrats like the President have given up on trying to do anything constructive. Perhaps, it is just a manifestation of the times. 

If this were not troubling enough, the surtax would not even be effective until 2013.  So, the country spends $450 billion now but intends to make it up by 2022? Nonsense. I am not sure how this dovetails into the expiration of the so-called Bush tax cuts at the same time when all taxpayers will see their rates go up. Are they proposing the surtax on top of the rate increase? 

I am not against increasing taxes per se. I am against an ad hoc campaign to try to patch a solution that does take into account a reform and examination of the tax system and leaves so many other areas in the void.   

 Deficit reduction through entitlement program changes, revisions to the tax system (which can include tax increases) and sensible rules and regulations are the solutions to give the economy a chance to right itself. It will be the private sector that creates the jobs, not the government. Wasting time on stunts like this are just that—a waste of time. Thank you Senator Reid, once again. By the way, Senator Reid, if the Obama jobs program is so great, bring it up for a vote today. 

 

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