Balancing the Budget on the Backs of Millionaires

Posted: June 25, 2011 in debt, politics
Tags: , , , , ,

The liberals have it easy. All they have to do to be loved is stand up for the middle class and the poor.

Only brave Americans like House Majority Leader Eric Cantor have enough guts to stand up for the rich, who are such an easy target. And Cantor made a clear statement when he walked out of the debt ceiling negotiations yesterday: Don’t balance the budget even partially on the backs of millionaires.

Cantor has it right. There is only one way to balance the budget–cuts, cuts, and more cuts. That’s the way it is in real life, right? If I have debt problems, I have one choice: spend less money. I don’t get to wave a magic tax wand and have money fall out of the sky. (I guess I could earn more money, but who has time for a second job?)

But during the debt ceiling negotiations, here come the whiny Democrats on their white horses, talking about raising taxes on the rich, raising taxes on the rich, and raising taxes on the rich.

Technically, it might not be raising taxes in a traditional sense; it’s more about closing loopholes in the current tax system, such as loopholes for those making over $500,000, those who own private jets, and ending subsidies for the struggling oil companies.

The loopholes were put there for a reason–to lower taxes on the rich–so closing them is raising taxes on the rich.

It’s like a Rollback at WalMart. When a frozen pizza price is temporarily rolled back to $2.00 from $3.00, that is now the new normal. When WalMart takes the price back up to $3.00, that’s a price hike! Plain and simple.

Closing the tax loopholes is like taking back an entire WalMart SuperCenter full of rollbacks from the rich. And with the liberal media and whiny Democrats against them, it’s a good thing that Eric Cantor is on the side of the rich.

May the WalMart smiley face be with you, Eric Cantor.

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