American politicians run from the ‘t-word’ like its an unwanted babymother. Taxes. So many politicians have won or lost their jobs based on that concept. And every politician who has won his job based on ‘no new taxes’, have lied. Just like the republicans are openly lying now.
Taxes are inevitable. The ‘father of no new taxes’, Ronald Reagan, raised taxes practically ever year of his administration… 7 out of 8 years I believe. After this election, irrespective of who wins… taxes will come, taxes must come.
Here’s the thing. The population is growing, needs are expanding, the infrastructure is decrepit. The ‘needs/spending’ side of the budget has to expand, even if you can cut out all the so-called fat/waste/corruption (which you can’t). And it has to be paid for.
Its not just simply buying less food for each person in the house. Its not about buying new clothes for the children. Its not about buying new beds. Additional children are now in the house, more mouths, more clothes, more beds. The republicans can throw out as many immigrants (legal and illegal) as they like. The numbers will still go up, the infrastructure has to be repaired, disasters have to be accounted for, spending has to take place.
The revenue side of government has to expand to meet the spending side. Its simple maths. And Romney and Ryan know that. Romney wins, there will be taxes. Obama wins there will be taxes. The difference is that Romney will be obligated to the 1%. He is one of them, he has always been one of them. Think of it. 5 star restaurants and private clubs, not diners. Rich people are whom he lunches, dines and associates with daily. His friends, his family. That’s his comfort zone. Those are the people who donate big money to his campaign. He won’t take away their entitlements and expect to look them in their faces.
He will find it easier to tax those faceless units he doesn’t normally associate with. In Romney’s case, the poor and middle class. That’s where the bulk of his tax income will come from. The numbers will seem as if the rich are being taxed more. Regulations on Wall Street will look more rigorous. But their entitlement loopholes means that they will still disproportionally not pay their fair share and thus the expendable income of the 99% will shrink far more than will the expendable income of the rich. In fact, as vague as his tax policy is stated, he does show a preference for lesser taxes for the rich. So who will the burden shift to?
Obama’s tax policy is also pretty much vague, and he will raise taxes. Its inevitable. He will consider an election win as a mandate to do so. And he will attempt to tax the rich in a more meaningful way. But he will also have to tax everyone else. The difference is how the revenue will be spent. And that is the question we have to ask ourselves come polling day.