Obama Debt Commission will Call for Trillions in Tax Hikes

By Floyd and Mary Beth Brown

Obama debt commission member, Republican Sen. Judd Gregg of New Hampshire, launched a scary trial balloon on ABC News. Gregg suggested the debt commission will likely recommend a massive $26.7 trillion tax increase. Here are Gregg’s actual words:

“Everything has to be on the table – there’s no question about that… Erskine Bowles, one of the co-chairmen of the commission, has suggested a 75-25 split — 75 percent of the savings being in spending, and 25 percent in revenues… I think it’s likely that there will have to be a revenue component, but it should be significantly, dramatically — and a 3-1 ratio is pretty dramatic — dramatically less than the initiatives in the spending side of the ledger.”

According to an analysis by Americans for Tax Reform if Bowles wants $3 in spending cuts for every $1 in tax hikes then the tax increases will be larger than anyone expects:

“Bowles and Gregg can only be talking about cutting $3 in promised Social Security and Medicare benefits in exchange for $1 in tax increases. In other words, 1/4 of the unfunded liabilities of Social Security and Medicare would be paid for with tax hikes. So how big is that? According to the 2009 Social Security and Medicare Actuaries’ Report, the long-run insolvency of the Social Security and Medicare systems is $106.8 trillion (with a “t”) over the infinite horizon. To close this gap with one-quarter tax hikes is, therefore, to raise taxes by $26.7 trillion. Of course, this number is undoubtedly higher since the Obama Administration is sitting on (read: hiding) the 2010 version of the report (it’s nearly six months overdue).”

On the heels of a huge tax increases included in the over-2000-page ObamaCare package, together with over-2000-page so-called “Financial Reform Package,” together with the expiration of the Bush tax cuts, Obama’s economic policies have guaranteed a double-dip recession.

Strap on your safety belts, because the anemic economic recovery of 2010 is about to become a government-induced second recession or double-dip in 2011. This outcome is baked in the cake even before any tax increases from the Obama debt commission are enacted.

If they are so greedy as to also try — by passage of a climate control bill — increases in energy taxes then this second recession will likely lead to deflation and a collapse into a government-sponsored depression. The economy cannot afford more money being redirected from investments toward government spending.

Clearly from this evidence alone it is plain to see that Obama isn’t judging his success based on a record of economic growth, but instead he is pursuing a program of economic redistribution. The administration has no focus on expanding the economic pie; instead, they are concerned with devouring every piece of the pie.

Grover Norquist, the president of Americans for Tax Reform, has been watching the Obama debt commission closely, and he concluded after hearing reports of Sen. Gregg’s comments:

“It’s been clear from the beginning that the purpose of this Commission was to put GOP fingerprints on a tax hike, likely a VAT… Gregg seems to be giving them all ten fingers… The true agenda of this commission has always been to hide the ball on a tax hike until after the November elections – hence the December reporting date. Gregg’s gaffe today tips their hand,”

Higher taxes are never the answer. With the economy so weak, Congress should be making the Bush tax cuts permanent. Taxes on capital formation and investment should be eliminated all together. America should be encouraging small business, individual investors and entrepreneurs to be taking risks to increase economic growth in the private sector. Instead, Obama and the socialists in Congress are embarked on a dangerous expedition to punish success. This will end badly.

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Comments

  1. So much for the promise of no tax increases on the middle class!

  2. The Goverment is the mark of the beast. need i say more..God help us

    • I honestly and firmly believe obama is the forerunner to the antichrist. Not to say that the antichrist will immediately follow after obama, but the road is definitely being paved.

  3. I'll said it once, I've said a 100x, obama wants to distroy this country brick by brick….He is moving as fast as he can,with November gettng closer…..I hope if we take back the House and Senate,we can undo all the stuff he has signed over the last 2 years! If it can be done,(repeal) we could put Billions of dollars back into the economy alone! The money from stimulas1, stimlus 2, stimlus 3, Tarp fund, ombus(sp?), all the bail-outs,and put it into the private sector,we would be back on track in no time!…..Then take back(stop) the pork barrel spending,again put it back into the private sector……Now, stop sending money and aid to terriorist countries…This will free up Billions of dollars to use here(jobs)….Then Deep tax cut for everyone,and break oboma's fingers so he can't sign and spend the tax payers money!!

    • camper29 says:

      The Dems are moving in lockstep with Obummer as fast as they can to destroy this country. When I go to sleep every night, I pray for another Harvey Oswald to turn up somewhere.

    • Yes everything repeal as possible how are you going to get money back he paid off election with? How are you going to reverse idiotic spending for studies and such.IIt will be the biggest clean up ever 100 times gulf coast, can he give back bp's contributions? Can we get money back from kenya, can we get money back from hamas do you thing anyone even knows how to track?

  4. Q. Why are there only 2 pallbearers at a Muslim funeral?
    A. There's only 2 handles on a garbage can.

  5. Q. What's the difference between Cindy Sheehan and a terrorist enemy?
    A. I don't know either.

  6. And just where does Obama think this extra money's going to come from?? We're taxed too much already. I have enough trouble paying my credit card bills each month. I really don't know what's wrong with these people. They think the American citizens are a bank. Obama's been running with a blank check for too long now. He's the worst president I've ever seen.

  7. Some people say that Obama being a muslim is not important.
    The fact that Obama IS a muslim is very very important.

  8. Anonymous says:

    He needs to go……NOW.

  9. Raymond you are correct but a trash can is to good for the muslim communist in the white house. I do not think the sharks would touch that piece of crap!! Yes, he is well on his way to completely destroyin our country. I believe our only salvation is to get conservatives in both houses of congress and I certainly am not referring to RINOS, we already have to many of them now.

  10. Raymond says:

    Proverbs 29:16a; "When the wicked are multiplied, transgression increaseth…"

    Proverbs 29:2; "When the righteous are in authority, the people rejoice: but when the wicked beareth rule, the people mourn."

    WITH A MUSLIM SITTING IN THE WHITE HOUSE THERE IS MUCH MOURNING.

    • marcel duranleau says:

      "THE PENALTY THAT GOOD MEN PAY FOR NOT BEING INTERESTED IN POLITICS IS TO BE GOVERNED
      BY MEN WORSE THAN THEMSELVES." -Plato GERMANY SINS HAD HITLER. USA SINS HAD OBAMA.
      America remember : PROVERBS 26:25 " SPEAKETH FAIR,BELIEVE HIM NOT. Read: 2 THESSALONIANS 2
      We are in big trouble here. We need to go back to Our Lord Jesus Christ to save Our Country. Have mercy on
      us. With the Lor`d Help we need to take those traitors out soon in Jesus Name. http://www.obamacrimes.com/
      ARE YOU PREPARE? http://www.MartialLawSurvival.com

      • I'm going to tell you that when this man became president that I had a sign from god during this time I was told that Gods Army Is Assembling the meaning I got from that was that God will not let this man destroy the only hope for humanity. and that we must STAND as one to take back our country from those who would destroy her and its people. Please In the name of GOD and his country stand with me and defeat this monster. Please in the name of all our for fathers unite in this effort and for those that are in the FBI it is your responsibility to investigate and impeach this man

  11. New bumper sticker:
    Obama lied, the economy died.

  12. I just heard that the new government in Iraq will guide the nation forward into the eleventh century.

  13. Hey, we all know Obama is the most destructive president ever. We won’t change his communist stripes, but he can’t do anything w/o Congress! What is the matter with the useless idiots in Congress who enable this anti-American despot to destroy our nation? They weren’t born Kenyan, didn’t all pal around with subversives and should not be destroying their own nation. Forget Obama, only God can change him, and you might pray for that, but for heaven’s sake get after the useless idiots and shame them into abandoning support for their master. My Democrat senator Begich doesn’t desrve the title, I call him mister and let him know how wrong he is on a regular basis. Useless idiots are always destroyed by their masters when they are no longer useful.

    • YOU PEOPLE JUST DON'T GET IT,,, PELOSI AND REED ARE THE DESTROYERS. THIS STARTED IN 2006 WHEN BUSH WAS STILL IN OFFICE. HE COULD NOT STOP THEM, AND EVEN IF MC CAIN HAD BEEN IN OFFICE, THESE BASTARD DEMOCRATS WITH THEIR SIXTY SENATORS AND MAJORITY IN THE HOUSE, WOULD HAVE OVER RIDDEN ANY VETO OF MCCAIN OR ANYBODY ELSE. WHY DO YOU THINK THE "BUSH" ECONOMY WAS GOING DOWN HILL WHEN HE WAS IN HIS LAST TWO YEARS IN OFFICE? PELOSI AND REED!!!!! FOR SOME REASON THEY WANT TO DESTROY THIS COUNTRY,,, AND THEY NOW HAVE A LIBERAL, MUSLIM HATER OF AMERICA TO HELP THEM OUT. FIND A PIECE OF PROPERTY IN THE WOODS AND LEARN HOW TO GROW POTATOES AND CHICKENS,,,, IT IS GOING TO GET BAD. AND LIVING NEAR ANY CITY WILL GET YOU KILLED IN THE RIOTS. WHEN THE SAUDI'S STOP TAKING OUR DOLLARS FOR OIL,,, THIS WHOLE COUNTRY WILL LOOK LIKE NEW ORLEANS AFTER KATRINA. IF WE DON'T VOTE OUT THE DUMBOCRATS IN NOVEMBER, AND I MEAN THE SENATE TOO, KISS YOUR A,,, GOOD BYE,,,,,,

  14. Disgusted says:

    Geeez – Someone needs to define the point where taxation becomes robbery. To think it a sane thing for the government to spend whatever they can conjure up and then expect the American working class to pay for it – well, just another reason to impeach this sinister person, who is blatantly and purposely ripping our economy apart – and he could care less about the people he has sworn to serve and the law of the land he swore to defend. I pray to God that these lawless, criminals in the federal gov will fall into their own traps and snares and pits. Also, there are plenty of places in the federal "budget" that could and should be cut instead of taking money away from programs that people have paid into for most of their lives. How about cutting congressional & presidential salaries & pensions in half? There is so much waste and senseless spending on ridiculous projects – whose great idea was it that the government should not be audited on a regular basis by private companies who cannot be bribed? Can we get a petition started to install term limits for congress? I am disgusted and frustrated that I can't do more to get these evil people prosecuted and sent to prison.

  15. Q. How do you say “Alice in Wonderland” in Arabic?
    A. Fatima in the house.

  16. Q. What is the current position of Homeland Security regarding terror?
    A. If you see a terrorist about to blow himself up, go up to him and say, "Hey! Stop that.

  17. An American man, a French guy, and an Arab are all on a plane. Suddenly the pilot comes over the PA and says the plane is going to crash if they don’t get rid of some unnecessary weight. The American takes a huge bag of hamburgers out of his suitcase and tosses it out the window, saying “Not a problem, I’ve got plenty of these where I come from.” The Arab guy somehow produces an entire barrel of oil and tosses it out, saying “Not a problem, I got plenty of this where I come from.” The French guy thinks things over for a minute, then grabs the Arab and throws him out the window.

  18. Dear Ones in Christ,

    Will the United States ever rise again to the power it once had? The entire world is unstable. Men in power are playing a deadly game moving us into a one-world government. We see governments going bankrupt, rioting, police clashes, entire communities pushing their religious or racial positions. It’s like the insane are running the asylum.

    The only way we can keep our sanity is looking for the “blessed hope” —the rapture. As soon as we leave, the Antichrist will move in. But in the meantime, what can we do to help the frightened people around us? They are not blind even though they are trying to hide their feelings in sports and entertainment. Down deep inside a panic attack is forming.

  19. Hot, humid nights are ahead as summer arrives, but this year it comes with unrest, hot tempers and vengeance that could make lots and lots of problems for us. Have you noticed the pictures on TV of the crowds in Arizona? Many are holding up their right arms with a clinched fist. That is the symbol of the communist party worldwide.

    Beloved, if we thought communism was no longer a threat, then we’re badly mistaken. Communism is alive and well and growing nicely, especially in our school systems.

    Young minds are not taught about God, but about trusting in government to help and guide them through life. Morals are shot, the 10 commandments are declared unconstitutional and above all a major shift is occurring. That which was considered right is now considered wrong.

    Young people know nothing of the socialist governments of Germany and Russia that slaughtered millions. I believe we are quickly moving in that direction. People are relying on political change instead of the Lord to help them, and that’s very dangerous. The political leaders we rely on will often turn and surprise us, even betray our trust. We need to show the world that the Lord Jesus Christ is the only One we can really depend on.

  20. PghVirgo says:

    Courtesy of Patriot Depot — Illegal African muslim's (ober) 10 Commandments – Part II
    VI. Thou shalt not kill, unless you have an unwanted, unborn baby. For it would be an abomination to punish your daughter with a baby. SOURCE
    VII. Thou shalt not commit adultery if you are conservative or a Republican; Liberals and Democrats are hereby forgiven for all of their infidelity and immorality, but the careers of conservatives will be forever destroyed. SOURCE
    VIII. Thou shalt not steal, until you've been elected to public office. Only then is it acceptable to take money from hard-working, successful citizens and give it to those who do not work, illegal immigrants, or those who do not have the motivation to better their own lives. SOURCE
    IX. Thou shalt not discriminate against thy neighbor unless they are conservative, Caucasian, or Christian. SOURCE
    X. Thou shalt not covet because it is simply unnecessary. I will place such a heavy tax burden on those that have achieved the American Dream that, by the end of my term as President, nobody will have any wealth or material goods left for you to covet. SOURCE
    Is there anyone that STILL doesn't understand why this entire administration MUST BE SHUT DOWN????

    • To: Virgo. Your post is a mess.

      • PghVirgo says:

        Thanks Airhead, how do you stay grounded with all that hot air you pump out????
        Do you ever mind your own business and STFU????
        I was forced to enter in 2 posts, one wouldn't take!!

        • To: Virgo.
          1). America is my business & I will not be silent.
          2), You were "forced" to make 2 posts? This is not true! There is a process to entering a long post,
          but it seems you're UNABLE to figure it out. Oh well!!!

          • PghVirgo says:

            I never had reason to, I'm not usually as full of 'hot air' as you, don't need to let all that gas escape!!!!
            Now, the 2 sections got separated for some reason, after having been together as they should be, wonder how that happened?? Must be all that 'hot air' expanding the thread!!

  21. PghVirgo says:

    Part I – Courtesy of Patriot Depot — Illegal African muslim's (ober) 10 Commandments
    I. Thou shalt have no God in America, except for me. For we are no longer a Christian nation and, after all, I am the chosen One. (And like God, I do not have a birth certificate.) SOURCE
    II. Thou shalt not make unto thee any graven image, unless it is my face carved on Mt. Rushmore. SOURCE
    III. Thou shalt not utter my middle name in vain (or in public). Only I can say Barack Hussein Obama. SOURCE
    IV. Remember tax day, April 15th, to keep it holy. SOURCE
    V. Honour thy father and thy mother until they are too old and sick to care for. They will cost our public-funded health-care system too much money. SOURCE
    Part II will show up somewhere, hopefully and out of sequence!!

  22. cactusbob says:

    Lifelong Democrats often have a problem comprehending the fact that the party of Obama, Reid, and Pelosi is no longer the Democrat Party. They are keeping the name only because millions of votes unthinkingly come their way because of it.

    Many elected officials have awakened and have changed their parties. But not all voters even think about it, they just listen to the lies of the deceivers and do what they're told. Lies told often enough become perceived as true, such as the fact that Bush caused the recession. It is true that he contributed to it by failing to act against the surge of earmarks by members of both parties, but it was the vocal Democrats in the Senate and House who shouted down all attempts to put further controls on Freddie and Fannie. That's what caused this recession, the housing loans to buyers who didn't have the means to continue mortgage payments. And now those same culprits are wanting to loosen the controls again, saying that it isn't fair to deprive the poor of owning a house that they can't afford to pay for.

    The only way out of this recession is for businesses to hire more people. They won't risk expansion and hire more people if there's no indication they can make money by doing so. Tax increases won't help that picture, only tax cuts and the likely decrease in government intervention. But Obama wants more government involvement and control. He doesn't care if there are more jobs, because his goal is to expand the millions that are dependent on government to support them and will vote for more support. We are about to pass the equilibrium point.

  23. Mohammed heard one of his wives was leaving him, so he rushed home where he found her on the carpet in front of the tent with her belongings; he sat beside her and said,“I heard you were planning to leave me?”
    She replied,“Yes, I heard your other wives saying you were a pedophile!”
    Mohammed thinks for a minute or so and then responds,“that's a mighty big word for a 6 year old."

  24. An American Indian, A Muslim and a cowboy were traveling in the same train car.
    The American Indian sadly announces, “Once we were many, now we are few”.
    The Muslim arrogantly brags, “Once we were few, now we are many”.
    The relaxed cowboy, boots kicked on the table, trying to nap, lifts his hat, spits his tobacco on the floor, looks at the Muslim and says, “We haven’t played cowboys and Muslim yet”.

  25. Q: What do you ask a man who's just converted to Islam?
    A: Have you started beating your wife?

  26. David H says:

    It appears that the purpose of the "Debt Commission" is to assure that the United States becomes so deeply in debt that we will never get out.

  27. Hi,

    It is hard for me to find a place to post my comment about this creepy Obama "Debt Commission". I am a 67 year old retired man, who has worked hard, like most of us, all his life. I want my wife to receive all the Social Security benefits due her as my widow, if I should die before her. Alan Simpson is a useless, drooling, old fool who has spent most of his selfish life at the "Public Trough". A one-line, mean, wiseass BUM that will be missed by NO- ONE! Don't get between between what I and others have paid into, and earned for our selves and families during our lives, FORMER senator scumbag!

    John McBride, Carlsbad, Ca 92011

    1

  28. Astronomers have spotted an object in space that they say is potentially dangerous, yet for a year it's just sat out there and has done nothing. For that, they've named the object COMET OBAMA.

  29. To: All muslims & communists.
    We're taking back our country, and that's a fact.
    If that doesn't sound good to you, let us help you pack.

  30. Dannie Long says:

    I am of the belief that this nut named Obama, with his tax hikes his distributation of wealth, his economic situation he is out to bury the U.S. in debt. Obama,Pelosi,reid,biden,all should be imprisoned for the destruction they are attempting to do to this country. Another idea is to send them to russia with a one way ticket and a threat of imprisonment for life if they return. Any one who hates this country as they do do not deserve to live here. I'm not angry i'm mad at anyone that would hire out to protect this country and do their best to destroy it. They have no right to live in this country. Impeach all these listedand put in prison.

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  35. It will be shocking news for many to know that the tax rates would go high and reach extreme limits. The Senate has been continuously striving hard to read about the measures to control the tax hike. The faster it is done, the better.

  36. Hi there! This post couldn’t be written much better! Going through this article reminds me of

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