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  • Morning Bell: It's About the Spending

    According to the Tax Foundation, today is Tax Freedom Day: That means Americans have worked about three and a half months of the year, from January 1 to April 13, before they have earned enough money to pay this year’s tax burden at the federal, state and local levels. Thanks in part to both President George Bush’s tax cuts and President Barack Obama’s temporary tax cuts, this year’s April 13 Tax Freedom Day is the earliest it has been since 1967. But do not celebrate yet. The Tax Foundation also identifies how long Americans would have to work to payoff each year’s budget deficit. That day does not arrive until May 29 … the latest day ever for the deficit inclusive measure.

    But back to the taxes. The Congressional Budget Office released a study last week that should give pause to anyone who believes the gap between spending and revenues can be closed by taxing the rich alone. In 2006, the latest date data is available, the top 20% of earners paid 69.3% of all federal taxes. Never has the top 20% of earners paid such a high share of federal receipts. Meanwhile, the bottom 90% of households paid only 45%, and the lowest 20% of earners paid only .8% of all federal taxes. Editorializing on the CBO findings the Washington Post warns: “There just isn’t enough revenue to be found above that figure unless we create a system so lopsided that voters would always want more government spending because it would come at such a low price.”

    Unfortunately we are already there. Over the past 14 months, Washington has gone on an unprecedented spending binge that has sparked a nationwide protest. This Wednesday, hundreds of thousands of Americans will take part in Tea Party protests in 500 cities and towns across the country. The USA Today reports:

    Organizers say they were not pleased by former president George W. Bush’s performance on spending, either, but what moved them from yelling at the TV to rallying in the streets was Obama’s proposed $3.6 trillion budget, a package the Congressional Budget Office says would produce record-breaking deficits of $9.3 trillion over 10 years.

    As we’ve detailed before for all the talk of “hope and change” our current president is every bit the borrow and spender that our previous president was … and more:

    Quick Hits:

    • The pirate attacks off Somalia have reinvigorated a long-simmering debate over whether the crews of commercial vessels should be armed.
    • Days after the Obama administration unveiled a push to combat climate change, Indian officials said it was unlikely to agree to binding emission cuts since they would harm economic growth.
    • According to Politico, fearing backlash from his anti-life policies, President Obama has boosted his “anti-abortion” recruitment.
    • The Obama administration’s proposed defense budget will leave us vulnerable in the future.
    • Fearing political backlash after not granting President Obama an honorary degree, Arizona State University President Michael Crow decided to rename the schools scholarship program in Obama’s honor.
    Posted in Ongoing Priorities [slideshow_deploy]

    25 Responses to Morning Bell: It's About the Spending

    1. Dennis A. Social Cir says:

      President Bush had his faults, that I will give him. This obama mess is beyond anything Bush could have done or thought for that matter. The dems want to place all the blame on Bush, but unless I am mistaken they were in controll of the Senate for 2 years before obama. Their attitude now is "we won", and we will do whatever we want.

      I just hope the American people will remember what a mess we are in come the next elections in 2010 and in 2012.

      The dems and obama are determined to make the American people dependent on the government for all their needs. It is time people started to tke resposiblity for their actions and needs, not the government.

    2. Jack Lohman says:

      Politicians are paid by special interests to spend money foolishly and by the taxpayers to spend money smartly. So we as a country would be far better off with the public funding the elections.

    3. Suzanne, Texas says:

      Our ships should be armed with ship killers and our crews should be armed and trained to repel pirates and also to kill them. It looks like the pirates will not learn from this latest episode, so U.S. ships need to concentrate on killing as many as possible. Bombardment of the Somali coastline should not be out of the question. Fears for other Somali civilians should be put aside as the pirates could not continue to operate without their support. Somewhat like the so-called "human shields" in Gaza. We should not forget that the Somali pirates are also terrorists and must be treated as the same. No quarter!!

    4. Joe, Greenport, NY says:

      Tax Freedom day should also account for State and Local Income taxes, the average of our Real Estate taxes (paid by homeowners or used in the basis for calculating rents), an average of all the State and Local Sales taxes we pay, all the taxes on our phone bills or any tax paid for utilities etc.

      I think if we did that, we would find we work a lot longer in the year before we stop paying taxes. A scary thought.

    5. Brad Raffensperger, says:

      A young Prince was fearful of his new responsibilities upon the death of his father, the King. He looked upward and asked of God for one thing and it was wisdom. His unselfish wish was granted and Solomon is credited as being the wisest man that ever lived. Perhaps we need to crack open his writings and read the distilled wisdom of the ages and learn from this source.

      You can live on credit for only so long. If our government does not discipline itself the end result will not be pleasant nor will it be anything which we will have control. People want, but do not want to pay. Where we grew up they called that stealing.

    6. Richard cancemi says:

      The greatest mistake anyone can make is to give the government power. Idiotic people think the government has anything to give. It has NOTHING to give. It must first take far more than it returns because it takes good care of itself!

      We have ALLOWED ourselves to become sheep who are available to be milked and fleeced and are eventually taken to the slaughterhouse.

      We, today, are paying for the mistake our forebears made when they first ALLOWED the government to tax income. Once that door was opened, the government barged in and now controls how much we are ALLOWED to keep of out own earnings! State and local governments followed in the wake.

      God help our future progeny who will have to pay and pay for what we ALLOW the likes of our government to do today!

      Governments no longer serve; they rule!

    7. Edward Jarrett Granb says:

      Elimenate the goverment withdrawl on IRA accounts after a person reachs 70 1/2. My dividends are less than the withdrawls, and I am loosing money each year. IF I live long enough I will not have anything left.

    8. Ron, Derry NH says:

      I don't know where they get those figures, but by the time I pay my taxes, Property, and income and SS, and recover from licenses and insurance just to exist, I don't start earning anything till August.

      You need to add in every tax you pay on everything you pay for and the figure is ugly. If you just count the income tax it is almost like lying to yourself.

      To be a legal, tax paying, insurance paying responsible citizen one needs to pay too much to get nothing but fraud and self preservation from the un ethical group that is supposed to be OUR guards.

      I want to be an undocumented citizen as soon as it as possible so I may have a Lexus, jewelry like mister T and an extended family being paid for by some one elses hard earned money. I work on occasion in a inner city where welfare owns the citizenship and I can tell you, nobody there is suffering without a nice car, full insurance and a big screen TV.

      A protest only works if some one is listening and actually cares. I see no sign of that from washington.

    9. Ron, Derry NH says:

      In my many years I have come to a conclusion that one useless man is a shame, two is a law firm and three or more is a congress.

      — John Adams

    10. Pete Kleff says:

      In my years I have seen politicians of both liberal and conservative bent come and go. As a young man I was energetically opposed to Hubert Humphrey, thinking him one of the worst. Today I suspect I'd welcome him back. Clearly Barry Obama makes the policies of liberal politicians from my youth seem almost acceptable. Unlike them, he will destroy this country with inflation. There is no other way out of the financial hole he is so wantonly digging for all of us. God help us!

    11. Mike in Conyers, GA says:

      Oh where to start, I hope everyone that reads this understands that with our tax system, the way it currently exists, has no way to produce additional income other than to tax,tax,tax. Every thing our government does requires more funds. Granted with the BIG government the new administration has, they could only do more damage.So there is but one solution…THE FAIR TAX!!!!!!!

      For those not familiar please visit: fairtax.org and for those of you who are familiar please tell everyone you know, because if we have a hope of a future this would be it.

    12. michael hutchings says:

      The current and projected spending levels and their structure indicate that a political class of middlemen has gained control of the productive sector of the economy and will pay them selves and their foot soldiers to maintain and increase their power at the expense of workers an unrealistic wage that cant be supported by free men and leads to bondage for the new peasantry obliged to contribute to their support.

      ARM THE SHIPS AND KILL AS MANY AS YOU CAN WITH GUNFIRE AND EQUIP ALL SHIPS WITH YARD ARMS AND LOTS OF ROPE. ITS SIMPLE KILL ENOUGH OF THEM AND THEY WILL QUIT. IT IS AS SIMPLE AS WAR AND THE PIRATES ARE TERRORISTS WHO WILL NO DOUBT BE CAST AS POOR VICTIMS BY THE MEDIA AS THE DRIVE BYS CONTINUE TO NEUTER ANY MANLY RESPONSE AT ODDS WITH THEIR DEEP SEATED ANTI AMERICAN MISCOGONY.

    13. Ken Jarvis - Las Veg says:

      MORE PROOF

      We need a National Sale Tax – NSTx

      Where ALL Taxes are paid

      when the purchase is made.

      The Tax would be 10%

      8.5% going to the Treasury

      1% going to Soc Sec

      and

      .5% to Medicare

      NO WITHOLDING

      NO RECORDS TO KEEP

      April 15 would be – just another day.

      That way,

      EVERYBODY PAYS THEIR SHARE.

    14. Pingback: Class War Taxes « Analysis and Synthesis

    15. cynthia overland (tr says:

      When I married my husband 34 years ago yesterday, I found out about his "nutty" cousin Larry. It seems Larry took his new wife and "homesteaded" in Oregon or Washington out in a meadow someplace. There they lived in a tent while he worked on digging a well and building a log cabin. Back then we were driving hard to excel in our "careers", save our money, buy a house etc., Larry was harvesting his own food and home schooling his children. Now, I envy Larry and his wife and the way they were able to productively "drop out" and choose a life they were in control of. Their reward is directly in proportion to their effort and hard work. Best of all, they are not burdened with the cable TV, internet crap, and cell phones that plague all of us "normal" people.

    16. Lynn Alton, Seattl says:

      Wow, in reading many comments posted to these new items, I can't help but wonder what the masses of our nation are thinking of?

      Everyone on the left has since the beginning been faulting GWB for what ever has gone wrong in the county….not matter whom may have had a hand in causing the crises that now exists.

      When I see some 54% of the nations residents, not necessarily all being citizens, living off the other 46% whom are paying the "taxes" for all the public support and give-aways and free-lunches in life…I can't help but wonder when (not if) the folks that are working their tails to the bone, will get mad enough to put a stop to all the

      degenerative waste and spending being foistered upon the tax payers in the last few months. I see the future of not just my children, but my great great grand children being taken from them by this insane administration and the "socializing" of the US. The free-enterprise and we have know it from the beginning is now at serious risk of being exchanged for a "governmentally owned" society, worse than what was evident in the USSR of years past.

      Why are so many people "blind" to this "fact" ? What has happened to the ideals of this nation that we as a people must be stong and resolute and take care of one another and NOT be looking to "big-borther" to do everything for us…ie the craddle to grave "BS" that the Clintons machine has promoted for years. Sooner or later the house of cards will come crashing down on the legislators who are endorsing this madness now in play in WA/DC

    17. Debra J. White says:

      Why is anyone surprised by Crow's bad boy behavior? He has a long history of retaliation and discrimination against minorities. Look at the case, Chichilnisky vs Columbia, where he was vice provost before coming to ASU. He orchestrated that long running case in which a prominent Latina Professor, Graciela Chichilnisky was discriminated against, all due to Crow. Don't believe me? Look up the records. Crow does the same at ASU. He says he welcomes diversity. What rot. According to ASU's website, in 2002 when Crow was hired there were 13 African Amer. women with tenure. In 2007 that number was the same. I could go on but there's not enough space. Crow costs the AZ taxpayers millions in litigation fees and payouts.

      Obama deserves better than Michael aka Jim Crow.

    18. Pingback: Robbing the Rich Can Come Back to Bite You. « The View from Southern California

    19. michael hutchings says:

      i agree with ken jarvis, a shared burden would let the economy flow naturally with out pirates raiding the kitty and demanding ransom.

    20. christopher g scott says:

      THE HYPOCRACY OF THE OBAMA ADMINISTATION. Although I applaud the actions of the Navy SEALS to take out these pirates(with only three bullets).But one has to wonder why the Obama administration went about this unilatieraly and without the consent of the U.N. Did the President finally realize that American security and safety rely solely on American actions (President Bush understood this all to well).We do not need the approval of the E.U. and the U.N.to protect American lives or property. Thank you SEALS job well done.

    21. Barb -mn says:

      I agree w/any idea where EVERYBODY pays their share. I don't agree everything should be taxed. Basic human necessities: food, water, housing, perscription medicines, anything dental that isn't cosmetic. There should be a luxury tax or whatever you call it, for cosmetic surgeries. If needed due to accident then it's exempt.

      This was brought up to Paul Wellstone, he responded 2 months before his fatal plane crash… obviously, not for it., but anyway, must be alot of tax paid wealthy government females getting the job. Oh, and welfare recipients.

    22. Qurmudjin, Albuquerq says:

      The figures above are one-sided. Can we also see the distribution of total net worth and/or financial wealth for the same percentile groups?

      My bet is that the top 10% who paid 55% of fed taxes in 2006 probably owned over 80% of total net worth and over 90% of total financial wealth.

      I'm also sure that the bottom 80% who paid 30.7% of fed taxes in 2006 probably owned less than 20% of total net worth and less than 10% of total financial wealth.

    23. ella quinn kinston n says:

      When you watch Sean Hanitty you will see Bob Beckle and people like him who will go along with everything obama stands for.They will see no wrong with what he does.

    24. Barb -mn says:

      There only need be one side, Qurmudjin, Albuquerque. The government IS public. Everyone has the RIGHT TO KNOW WHERE THE GOVERNMENT IS SPENDING OUR MONEY! It is the government's duty to give us itemization of EVERY PENNY they claim an expense to steal from us. It's still our money.

      This should have NOTHING to do with the private sector who work to achieve, under the freedom of this country, who find the opportunities necessary, under the freedom of this country to fulfill their American dream. NO GOVERNMENT HANDOUTS! That's what BUILDS YOUR INTEGRITY, DIGNITY AND STRENGTH!

      Every step the government takes is our right to know. It's OUR MONEY they're living off of. They have been violating the constitution to which this country once stood, for quite sometime. It has been and continues to grow limitless out of any sense of control.

      In America people gain their strength of dignity and integrity where everyone should be expected to follow civil law and doing things for yourself at your own expense! People come to use their own brains to figure things out for themselves without the assistance of government. Carrying out personal and if, parental responsibilities. Under the constitution, No one should be singled out by race, creed, culture at the tax payers expense, IT DEFIES EQUALITY!

      Chronic illnesses, not caused by choice of lifestyle, should have reasonable costs for any out-of-pocket expenses. Terminal illnesses should be private medical. If government pays for your expenses how long do you think you'll be living? CORRUPTION.

    25. Maxine Kappel--Tulsa says:

      How can we encourage Sarah Palin to run for President in 2012??

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