Quote of the day:
"You cannot legislate the poor into freedom by legislating the wealthy out of freedom. What one person receives without working for, another person must work for without receiving. The government cannot give to anybody anything that the government does not first take from somebody else. When half of the people get the idea that they do not have to work because the other half is going to take care of them, and when the other half gets the idea that it does not good to work because somebody else is going to get what they work for, that my dear friend, is about the end of any nation. You cannot multiply wealth by dividing it."
– Adrian Rogers – American pastor (1931-2005)
Budget: President Obama’s Budget passed through the House Committee on the Budget, of which I am a member, late Wednesday night on a party line vote. It will come to the House floor late next week, and I expect it to pass. Like the ‘non-stimulus package,’ I expect that not a single Republican will vote for it, and a few moderate Democrats will also likely oppose it. This budget quickly moves America to the sort of place that Pastor Rogers described in today’s quote.
I usually give you lots to read, but today I’ll give you a few things to watch. Here is my opening statement on the budget debate. It explains some of the reasons why I oppose this budget with such vigor. It is 3 minutes long.
If you want to see what a 30% tax increase looks like, take your paycheck and multiply the total taxes deducted by 1.3. Then, subtract that from your gross income and that will be close to your new net income. So, if you made $3,000 gross and $2,000 net, you will now only net $1,700. Oh, and that won’t include the cuts your employer has to make in order to pay for their tax increases. By the way, this budget includes all kinds of things that are minor in the grand scheme of things, but big to certain people. For instance, it would repeal the use of the ‘Last In, First Out’ (LIFO) inventory accounting method. This will dramatically raise taxes on all retail businesses who carry inventory.
In my opinion, the best and most articulate Member of Congress, present company included, is Paul Ryan (R-WI). He is the Ranking Member of the Budget Committee. Here is a 4 minute clip of his very powerful closing argument in Wednesday’s debate.
Hopefully, the Senate will kill this thing. Republicans are united in opposition and joined by some like-minded Democrats. But those Democrats are being threatened. According to a report from the Capitol Hill publication, Congressional Quarterly, The Campaign for America’s Future is "launching television and radio ads targeting Democrats that the group says are ‘standing in the way of President Obama’s reforms.’" I hope that together we can block the door. Now, there’s a bipartisan effort.
This budget is irresponsible, destructive and wrong.