Get out your wallet....here it comes

[JustRalph]

http://online.wsj.com/public/article/SB10001424052970204884404574366813458510926.html

The High Cost of Liberalism
Taxes too high? You ain't seen nothing yet.

By PETE DU PONT

Congress is in recess and many Americans are on vacation, but all that will end when Labor Day has passed and the House and Senate are back at work.

And that means the Europeanization of America will again be in full gear, from expanding government control and regulation of as many things as possible, to raising taxes, expanding the size of government, and reducing the choices individuals are allowed.

The Treasury reports that our country's federal debt has doubled in nine years, rising steadily, year by year, to $10.72 trillion from $5.67 trillion in 2000. Our deficit for the current year fiscal year, which ends Sept. 30, is expected to total $1.8 trillion, four times last year's figure, leaving us with a federal debt of $38,500 for every U.S. resident. Our economy is doing poorly; it will shrink about 2.6% this year. Unemployment in July reached 9.4% and will likely further increase, and tax revenues are down $353 billion over the first 10 months of this fiscal year.

So we can easily see what is just around the corner. Earlier this month Treasury Secretary Tim Geithner and Larry Summers, director of the National Economic Council, opened the door, suggesting that taxes on all taxpayers will have to go up. As Stephen Moore noted in The Wall Street Journal, "it would take almost $16,000 more from every household in America to balance the budget this year." We certainly won't get to balanced budgets for decades, but substantially higher taxation seems inevitable.

All of which leads to the essential economic question: Which tax increases do the current administration and Congress intend to enact? There are more than a dozen, all of which would negatively affect our economy.

much more at the link

Get ready for the Obama Energy control plan....

From the link:
And then there's the Waxman-Markey "cap and trade" bill that has passed the House and will be taken up in the Senate this fall. It would give the government total control of the production, prices, availability and use of energy and add a global energy tax to imported goods--serious American protectionism. It would shrink America's economy by $400 billion each year and cause the loss of some 2.5 million jobs. For a household of four it would cost an average of about $3,000 a year. By 2035 the total family annual increased cost would be $4,600 for power, food, supplies, gasoline and transportation.

[riskman]

Both Bush II and now Obama is hastening the day when the federal government implodes and takes the country on a toboggan ride downhill. Labeling them (fascist and socialist) hardly even matters. Obama is now fully responsible for the slide with his across-the-board spending increases in all departments of government which he defines as "stimulus". The intent is to exercise power, especially by Democrats. The intent is to give us bigger government, as his anti-Reagan rhetoric makes clear. Bush gave us Iraq and Afghanistan. Obama gives us Afghanistan and Iraq. Obama accused Bush of irresponsibility on the economy who has the distinction of being the first administration since Hoover to destroy whatever wealth middle class taxpayers had in their 401K's and equity in their homes and minuscule income gains. Obama then turns around and gives us a new era of irresponsibility with his half ass stimulus plan. Nothing has changed. Any attempt to cut back this growth or tame it poses a threat to Big Brothers survival and to those in power. Attempts at reform---would open up politics to new negotiations, new votes, new priorities, and new coalitions. We can't have that--it would threaten to reduce the power exercised by the political elites. Real change would alert the citizenry to entirely new possibilities. They could unhinge the old boys club in the cloakroom. In all reform movements are great risks to the established system, interests, and people in power. If they cannot control these reforms, they will want to squelch them. If they control them, you can be sure that no real reforms will be forthcoming. So, bottom line we await the "change we can believe in" but in reality we all know it was just BS -just words from a another hustler propped up by the money changers.

[lamboguy]

http://online.wsj.com/public/article/SB10001424052970204884404574366813458510926.html

The High Cost of Liberalism
Taxes too high? You ain't seen nothing yet.

By PETE DU PONT

Congress is in recess and many Americans are on vacation, but all that will end when Labor Day has passed and the House and Senate are back at work.

And that means the Europeanization of America will again be in full gear, from expanding government control and regulation of as many things as possible, to raising taxes, expanding the size of government, and reducing the choices individuals are allowed.

The Treasury reports that our country's federal debt has doubled in nine years, rising steadily, year by year, to $10.72 trillion from $5.67 trillion in 2000. Our deficit for the current year fiscal year, which ends Sept. 30, is expected to total $1.8 trillion, four times last year's figure, leaving us with a federal debt of $38,500 for every U.S. resident. Our economy is doing poorly; it will shrink about 2.6% this year. Unemployment in July reached 9.4% and will likely further increase, and tax revenues are down $353 billion over the first 10 months of this fiscal year.

So we can easily see what is just around the corner. Earlier this month Treasury Secretary Tim Geithner and Larry Summers, director of the National Economic Council, opened the door, suggesting that taxes on all taxpayers will have to go up. As Stephen Moore noted in The Wall Street Journal, "it would take almost $16,000 more from every household in America to balance the budget this year." We certainly won't get to balanced budgets for decades, but substantially higher taxation seems inevitable.

All of which leads to the essential economic question: Which tax increases do the current administration and Congress intend to enact? There are more than a dozen, all of which would negatively affect our economy.

much more at the link

Get ready for the Obama Energy control plan....

From the link:
And then there's the Waxman-Markey "cap and trade" bill that has passed the House and will be taken up in the Senate this fall. It would give the government total control of the production, prices, availability and use of energy and add a global energy tax to imported goods--serious American protectionism. It would shrink America's economy by $400 billion each year and cause the loss of some 2.5 million jobs. For a household of four it would cost an average of about $3,000 a year. By 2035 the total family annual increased cost would be $4,600 for power, food, supplies, gasoline and transportation.i think you might be mixing up tax hikes with social idea's. i don't think that you will give anyone any arguement that RONALD REAGAN was the most conservetive president of all time. he had the highest tax increase than any other president before or after him. while JOHN F KENNEDY had the largest decrease in taxes up until that point of time.