Saturday, October 29, 2011

Democrats Propose $1.5 Trillion in New Taxes (ContributorNetwork)

COMMENTARY | With the statutory deadline approaching in less than a month, congressional Democrats still have their heads buried in the sand when it comes to the federal budget.

Reuters reported Thursday that the super committee Democrats introduced a $3 trillion savings package that aims to far exceed the $1.2 trillion they are required to cut before Thanksgiving. The plan was dead on arrival, according to Republican staffers for the ultra-secret committee.

Democrats seek $1.5 trillion in new revenues from tax increases and new taxes. What part of "no new taxes" do they not understand? The House is not going to pass any new revenues - they have been perfectly clear on that all year. For Dems to present a plan that calls for 50 percent of the proposed savings to come from new revenue is a waste of breath in proposing it, and a gallant waste of time should any committee give it debate time.

The proposal doesn't have the support of all Democrats on the special committee, and is likely to have problems with the Democratic leadership. House Minority Leader Nancy Pelosi, D-Calif., has repeatedly said she will not consider cuts to Medicare and Medicaid, although The Hill reports she is mum on the subject today wanting to "wait until I can see the whole package." That's an interesting comment from the former speaker who insisted the Congress pass Obamacare before they knew what was in the bill.

Nearly $100 billion in Medicaid cuts are proposed, as well as long term Medicare cuts. The details were carefully omitted from leaks to the media. The cream of the plan includes another $300 billion stimulus plan.

Basically, the Democrats are proposing massive tax hikes that cannot pass either chamber. They are proposing social program cuts that even their own leadership will not support, therefore effectively killing it in the Senate. And, they are proposing new stimulus spending that Republicans will not allow to happen. The time it took to design the plan was a further waste of government spending.

House Speaker John Boehner told Seattle Times that it would be difficult to pass any plan from the super committee, but he would strive to accomplish some compromise. The clock is ticking - the committee needs to get serious and make some concerted tough decisions. Then they need to muscle it past their respective caucuses.

Dan McGinnis is a freelance writer, published author and former newspaper publisher. He has been a candidate, campaign manager and press secretary for state and local political campaigns for more than 30 years.

Source: http://us.rd.yahoo.com/dailynews/rss/democrats/*http%3A//news.yahoo.com/s/ac/20111027/us_ac/10305333_democrats_propose_15_trillion_in_new_taxes

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