Even taxing all their money won’t do it. The Administration of President Barack Obama plans to raise taxes on anyone making more than $250,000 a year, which will collect about $85 billion more revenue, a recent study concludes. But last year’s Federal deficit was $1.3 trillion. Even taxing every penny the “rich” make over $250,000 won’t close the gap. Clearly, the problem in Washington isn’t too little revenue; it’s too much spending.
The Tea Party’s huge victory in Texas. Congratulations to all of the Ted Cruz supporters who saw their man come from behind in the Republican primary in Texas and score a smashing victory over his opponent. Cruz trailed the establishment’s choice, Lieutenant Governor David Dewhurst, 45 percent to 34 percent, in the May 29 primary. But less than three months later, he easily won the runoff, 57 percent to 43 percent. The results should be a wake-up call for anyone who has written off the Tea Party in this year’s elections.
Finally, you can keep what you earn. In a new report, the Americans for Tax Reform Foundation and the Cost of Government Center say that the average American has to work more than half of the year to pay the cost of government. This year’s Cost of Government Day — when the average worker has earned enough to pay for government at the Federal, State and local levels — didn’t arrive until July 15 this year. I’m glad unfunded liabilities weren’t included; if they were, the day would never arrive.
Amazing acts of courage. Like you, I was heartsick at the stories of the massacre at that movie theater in Aurora, Colo., last week. But I was also impressed by the heroic acts that occurred there. Four of the victims were men who gave their lives to protect the women who were with them. The courage, bravery and self-sacrifice of Alex Teves, Matthew Robert McQuinn, Jonathan Blunk and John Larimer should be an inspiration for us all.
A flood of disabled workers. Here’s a statistic that should worry every taxpayer in America. While the economy has created 2.6 million new jobs since June 2009, in the same period an astounding 3.1 million people have been granted disability benefits. In other words, the number of newly disabled is growing 19 percent faster than the number of new jobs in this country.
More Democrats distance themselves from Obama. It looks like there could be a lot of empty chairs at the Democratic Convention in Charlotte, N.C., in September. The latest defections include three Democratic Congressmen from the State hosting the convention. U.S. Representatives Hayden Rogers, Mike McIntyre and Larry Kissell say they’ll be too busy campaigning to show up. Even more embarrassing for the national ticket, the three men have declined to endorse Barack Obama for re-election.
No justice at Justice. Surprise, surprise. The Justice Department announced last Friday that it will not prosecute its boss, Attorney General Eric Holder, for contempt of Congress. Deputy Attorney General James Cole sent a letter to House Speaker John Boehner declaring that “We will not prosecute an executive branch official under the contempt of Congress statute for withholding subpoenaed documents pursuant to a presidential assertion of executive privilege.” What happens now? My bet is a lot of bluff, blustering and rhetoric, but not much else.
Finally, Obama said something I agree with. President Barack Obama was roundly criticized for his long, disjointed and uninspiring speech on the economy two weeks ago. But he said something in his conclusion that I’m sure most conservatives would agree with: “Your vote will finally determine the path that we take as a nation — not just tomorrow, but for years to come.”
Another recession coming? The non-partisan Congressional Budget Office confirmed something I wrote about in Are You Ready For Taxmageddon. The CBO estimates that if the George W. Bush-era tax cuts aren’t renewed at the end of this year, our economy will contract by 1.3 percent in the first half of 2013. Gross domestic product is already pretty anemic, increasing just 2.2 percent for the first quarter of this year.
Labor losses are mounting. I mentioned in Wisconsin Vote Stuns The Left how membership in the American Federation of State, County and Municipal Employees plummeted in Wisconsin once the State stopped taking union dues from their paychecks. But it turns out that union support is declining in other States as well. The Wall Street Journal reported: “In the 12 months ended in February, Ohio’s membership fell 8.5%, Pennsylvania’s dropped 3.4% and Michigan’s declined 11.7%.” Look for union clout to continue to decline as more and more States challenge their power and more and more members decline to pay their dues.