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Watch your wallets kids, House Speaker Fancy Nancy Pelosi (D-Delirium) wants to go shopping and guess who she wants to pay for it? Ronald Reagan once said that the scariest words in the English language were "I'm from the government and I'm here to help." I think we should add to that the words "fiscal responsibility" coming out of any Democratic leader's mouth.
The Alternative Minimum Tax (AMT), like Social Security, was set up a long time ago without factoring in inflation, a growing economy or common sense. Again, this is the government helping. It was created to keep a few of the very rich from being able to work the system and avoid paying taxes. Because lawmakers made an "Oops!" on the inflation part, more and more of the middle class is defined as "a few of the very rich." Now Congress has to create a "patch" every year to keep that from happening, sort of like a trauma surgeon shooting you then offering to operate. The government creates a problem (convoluted, extortionist tax code), provides relief for a problem created by the problem (AMT) then provides relief for the problem created by the problem created by the problem (patch). Stop helping already!
This year, Speaker Nannykins and her dancing chimp Steny Hoyer (D-Highway Robbery) are trying to sneak some extra baggage in with the patch. She's trying to get $80 billion in new tax revenues by throwing some hurt on private equity managers as well as real estate and venture-capital investors, to name a few. Grandma Nancy says that this plants "a flag for fiscal responsibility." It's where she wants to shove that flag during said planting that worries me.
Here we go again...the Dems are mad at "The Rich." There is a fundamental breakdown in the wiring of liberals that makes them incapable of understanding that wealth in this country flows from the top down and not the bottom up. There is an inextricable link between "The Rich" and "The Paycheck" that they just don't see. I guess when you've been in Congress too long you just get used to waving a tax wand and "Poof!"-the money you want appears. It's all play money to them and they don't really ever consider where it comes from.
Of course, the problem is rooted in the socialism that has become the primary engine of the post-Viet Nam Democratic Party. In their ideal world, the money would flow from all of us directly to the bloated cow of a federal government that they dream about. The money would then flow from the cow's teats (love that word) and all of "The Rich" could be done away with. Don't try to wrap your heads around the fact that most of the Democrats in Congress are card-carrying members of "The Rich." As I've said before and will say again, irony is a notion that eludes the Left.
Thankfully, President Bush, that lame-duck who keeps spanking the Democratic donkey, has promised that Madame Comrade Speaker won't get away with this. Further indicating that the hysterical Ms. Pelosi is losing her tenuous leadership grip, some Democrats are worried about the long-term effect of sticking it to the targets singled out in this bill.
Only by voting can we help our gal Nan not "help" us.
Cross posted at Grizzly Groundswell & Real Clear Politics (Vote for it there!)
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