What was over the last four years an economic and financial impossibility is now surprisingly doable according to elected folk like Senators Kent Conrad, Bob Corken and Dianne Feinstein, as well as, Representatives Tom Price and Chris Van Hollen. What am I talking about? Democrats and Republicans actually considering working together with the President to bring the country’s economic bus to a screeching halt before it plunders over the inevitable fiscal cliff awaiting us on January 1, 2013.
This “fiscal cliff” has been looming for quite some time now but is only now capturing the attention of our elected officials and the mainstream media. And what do we have? Those who have been so diametrically opposed for the last four important years talking like they may come together like the calvary over the hill in these last few waning weeks before the injun’s hatchet gets wielded into the head of our fiscal well being.
I’m left with wondering why these geniuses on Capital Hill and the White House think they can fix something in just seven weeks of a lame duck session that they failed to do in four years.
Republican Speaker of the House John Boehner says that while he is willing to compromise to get those on the other side of the aisle and President Obama talking with his party about how to fix the problem he is still adamant about not allowing a tax rate hike on upper income-earners. Boehner, at least to the press, is sticking to his stance that a real pro-growth tax reform means cutting loopholes while at the same time lowering or keeping rates at current levels is what is needed to lead this country back to a Clinton-era strong economy. He and other Republicans continue pushing the example of the well proven 1986 Reagan Tax Reform Act that if you have a stronger economy you get more revenue without the need to raise tax rates. I agree with him, but more importantly, some Democrats are also now leaning in that direction as well. Some on the blue side of the aisle are beginning to realize that if they follow the blueprint that calls for cutting these loopholes for the rich while keeping current rates where they are, then everything the President wants will be gotten without driving this nation into a devastating recession.
I only have two questions for all members of Congress and our President:
1. Mr. President. Are you so hell-bent on raising tax rates in order to foster your blinded faith in redistribution of wealth that you can’t see the forest for the trees and the recessional danger this brings to our economy, or, do you have some kind of crystal ball that grants you a wisdom greater than the experts and allows you to defy all economic logic and push for more tax hikes?
2. Members of both sides in Congress. If this is so damn doable now, why in hell wasn’t it doable four years ago, or two years ago, or one year ago, or right before the election last week?