Taxes Are Done

Jan 07 2013

The ink is barely dry on the President’s signature on the fiscal cliff bill that raised virtually every working American’s taxes, especially those making over $400,000. But that still hasn’t satisfied the left. Nancy Pelosi is insisting that we need more tax hikes, maybe by eliminating more loopholes and deductions for higher earners. And the President himself has also made it clear that this is only the beginning. But there’s one roadblock to that: the House is still under Republican control. They write the tax laws, and they think the President got his tax hike, and there will be no more. Senate GOP leader Mitch McConnell made it abundantly clear. He said, quote, “The tax issue is finished. Over. Completed” and “behind us.” It’s finally about to become obvious, when the tax increases barely make a dent in the deficit, that our problem isn’t that we’re not taxing enough, it’s that the government spends too much. McConnell says it’s time to deal with the biggest problem facing America: Washington’s spending addiction. That’s what’s awaiting President Obama when he returns to work. He may be sorry he didn’t extend his Hawaiian vacation through 2016.

Comments 1-2 of 2

  • Jay Riedel

    01/13/2013 09:42 PM

    Just one idea: Since 1979, we, the USA, have been trying to introduce a $1 coin for circulation to save money. In 1979, ‘80, and ’81 we made tens of millions of Susan B. Anthony coins after the Treasury Department asked the coin collecting camp on our ideas for a dollar coin. They were told to make it a different color than our other coins, a unique size and/or shape that could be recognized by the blind, and most important of all, to stop printing the paper dollar. The life of a paper dollar is about 6-8 months, whereas the life of a coin is 40-50 years. Hundreds of millions of dollars could be saved here. Canada faced the same problem, and solved it in a few months—paper dollar out; dollar coin in. Done. Well, we made the SBA Dollar for those three years, and they were a disaster—didn’t circulate hardly at all. Why? Well, you guessed it—almost exactly the same size, shape, color, and feel as our quarter coin—and readily mistaken for the quarter. As our ten-year old school kids would say, “DUH!!” And, of course the clincher to the failed attempt—we kept printing the paper dollar! Then in 2000 we tried it again with the Sacagawea Dollar coin. This was a “golden” color (that lasted a few weeks before tarnishing to a putrid dark brown). These are STILL BEING MADE, but, of course, they don’t circulate either. Why? Well, you guessed it—almost exactly the same size, shape, and feel as our quarter coin—and we kept printing the paper dollar! A few years ago our government started another memorable disaster—the Presidential Dollar coin series—four dollar coins every year for ten years with every president, starting with Washington. These golden coins look like Chucky Cheese tokens, and like the Sacagawea Dollar coins, tarnish quickly. In addition to these Presidential Dollar coin series, the Native American dollar coins (new name for the original Sacagawea Dollar coin) are still being minted. And, of course, none of all these coins are circulating either. The Government, in all their wisdom, still mints millions of these every year since 2000, and had to build new vault buildings to store them in—hundreds of millions of unused coins at additional costs of millions. Why didn’t they circulate? Well, you guessed it—almost exactly the same size, shape, and feel as our quarter coin—and we kept printing the paper dollar! The dollar problem that Canada solved in a few months is still being worked on by our government—since 1979. Maybe in another 34 years we’ll get ‘er done...!

  • A. Yates

    01/11/2013 01:38 AM

    Since I just got a 2 (two) per cent tax increase on my wages, I'm mad as a wet hen! This is only a part time job, and I guarantee I do NOT make anywhere close to $400,000, let alone $250,000 per year. My husband is retired. This job is to supplement our income. But since the holiday rush, I am still on hold whether I will still be employed. Cut the WASTE on Capitol Hill. I have to live within a budget, and so should they!!!!

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