What the Democrats anticipate is major mid-term losses. Atonement for the lies and spending. Voter retribution for selling the American economy out to special interests, Modern Liberal agendas and the intent to Europeanize the world’s greatest nation.
The Wall Street Journal’s John Fund wrote in July, Democrat leaders are poised to lose the House and now realize their continued grip on the Senate is questionable at best.
When presidents come under too much fire, they appoint commissions. Like minded members from both parties to give the appearance that commission is “bi-partisan.” This bi-partisanship is as false as income levels of less than $250,000 not seeing new taxes under Obama. The commission is charged none the less with finding a way to cut a deficit now predicted to crest the $14 trillion mark. Their instructions from President Obama you ask? “Everything is on the table.” Such “enhancements of government revenue” could include acts of fiscal atrocities from entitlement cuts to the pillaging of retirement accounts. Last time everything was on the table in such a manner health care reform was forced upon the people by a government of which 60% objected to the program. Such concepts of governmental thievery should no longer be of surprise or dismissed as farfetched.
“Everything on the table” has an ominous deadline; 1 Dec 2010. That gives Democrats just enough time to pass lame duck legislation on how to support spending and reduce the deficit; tax increases.
Value Added Tax, (VAT), national sales tax, call it whatever you want; it is again on the table. The VAT is a system of taxes applied to all levels of production to a given product. The good news is you do not see it as a tax per se given the taxed increase is applied to the end product price. Invisible in broad day light the VAT is. The bad news is that VAT disproportionately impacts the lower income levels where end price increases hurt the most.
Another tabled item is corporate tax increases. A beautiful thing most think. Most who do not understand how corporations pay taxes tend to like the ideology of corporations paying more. The thought is they will in turn pay less. This is how corporations pay taxes; they don’t, the consumer pays them on their behalf. Tax increases to businesses and corporations are again reflected in the end cost of products and services. Taxing corporations, like the VAT is taxing the people; regardless of income level.
Economists universally support the concept that it is ill advised to introduce tax increases to a depressed economy. It is likely that the Democrats will allow the Bush tax cuts to expire. Bush tax cuts, Value Added Tax, corporate tax increases among many other reasons are why economists are becoming increasingly concerned of the Obama Administration inciting the rare double dip recession; which is all the more likely in the forth coming lame duck session of ill economic contempt.
Democrats have clearly stated that a lame duck session is their parting chance to move forward agendas of a party the American voting majority have vehemently resisted. Cap and Trade will again see the day light as seeks to tax light itself. Bush tax cuts will expire. The VAT will increase likely join hands with skyrocketing corporate to force prices for all goods and services to dramatically higher levels – all during the relentless grip of economic recession.
As the voter rallies towards voter retribution against Democrats who have promised the moon and only delivered foul cheese to the people, their parting swipe could be more damaging than their first economic atrocity of a failed stimulus.
