Do you remember the last scene in Thelma and Louise where the ladies join hands and hit the gas? This is one democrat that hopes that all the folks in Washington just agree to disagree and we go right over the side. There is no down side and lots and lots of upside from the Democratic side of the house.
If no agreement is reached everyone’s taxes revert to the Clinton era tax rates which will greatly increase revenues. In addition, the draconian cuts to defense and other programs will go into effect – the so called sequester. The “doom and gloomers” keep claiming that the “fragile” economy will collapse. I believe this to be total nonsense. I have never talked to a man or woman of business who made a decision about their business based on tax policy.
Over the years the Republicans have claimed that lower tax rates equal more jobs. History does not bear that out. Republicans claim that by letting the wealthy keep more it will “trickle down. Again, history does not support this position. Why must we keep revisiting theories that history has completely debunked?
Mr. President, take us over. It’s more likely to be a class 1 rapid rather than a cliff created water fall. The Senate has already passed an extension the middle class tax cuts and the Republican controlled House has it in their power to protect 98% of Americans form those increases taking effect. Really Mr. Speaker, you are going to hold America hostage to protect the donor class of the Republican party?
History has shown time and again that the democrats are far better stewards of the people’s money. Bill Clinton entered office with a huge deficit caused by the excesses of the Reagan administration. Working with Newt Gingrich, Clinton balanced the budget and left office eyeballing a surplus. This was completely undone by the wild excesses of the Bush administration and summarized by then Vice President Cheney when he said “Reagan proved that deficits don’t matter.”
Those who argue for fiscal responsibility need to understand that the electorate voted for a balanced approach to balancing the budget. An increase in revenue along with targeted cuts. That’s what happens if we go over the cliff so let’s do it.
Mr. President just take my hand and romp on the gas.