I have a couple major issues with his line of thinking.
- While he is saying millionaires, he then goes on to talk about raising taxes on those earning $250,000 and more. The last time I checked, that was much less than a million, unless he is inferring that people earning such amounts are already millionaires.
- The potential increase in Government revenue by letting the Bush tax cuts expire for the richest Americans is nowhere enough to reduce the yearly Government spending deficits. In fact the cost to extend the tax cuts for the richest for ten years is less than this year's deficit (Previous post pointing this out).
- The Top Federal income tax rate would have gone up to 39.5%. That is like working two days a week just to cover Federal Income taxes, once getting to that rate. Then tack on more work time to cover state and local taxes, before taking care of one's own needs.
- The President's proposed 2012 budget plans to spend the equivalent of $12,000 per American. So, for my family of 4, the Government will spend $48,000. That is much more than what many families pay in taxes. And there is the reason why the Government has to borrow so much.
- What about all the other assistance these people seeking aid already receive?
- Who is working to help those receiving public assistance make their money go father?
Before you declare this an unreasonable demand, look at how often aid money is wasted and abused. Remember the news of how Katrina aid given to evacuees was used in all sorts of wasteful ways, and now the Drudge Report is highlighting a Colorado Bill that would Ban the use of welfare cards at Strip Club ATMs. California has also be fighting abuse of their welfare funds. When is this all going to stop? The rest of us have to adjust to the current reality, so should the poor.
As for the elderly, I do have sympathies, but now I am starting to wonder about their innocence in all of this. They are the ones who elected the politicians who promised them the social welfare whose cost is now threatening to crush the system. They are the ones who permitted the Government to run deficits year after year for most of their lives. Social Security and Medicare entitlements are going to have to be adjusted. It is just a simple reality and given how people are living much longer, it is a fair adjustment to raise the retirement age, for starters.
Decades of deficits have resulted in a mountain of debt. If Anything, the group that is being robbed is not the poor, but the children of this country. So as Representative Lynch would like to call out that Tea Party supporters are throwing the elderly into the harbor, what he is calling for is for all of us to saddle my generation and my children's generation with their irresponsible spending including their cleaning out of the Social Security Trust fund.
Now you would think that the poor would be concerned about their children having to pay for the support that they are receiving. However, given that they were never asked to pay for the benefits their parents received, why should they consider anything other than the possibility of the Government cutting back the benefits (and in many cases free lunches) that they are receiving.
There is much more to this issue. Again last night I heard another Congressman use the Reverse Robin Hood comment. And I suspect that she will not be the last.