Tags: Why | Socialists | Don't | Want | Tax | Cut

Why Socialists Don't Want a Tax Cut

Tuesday, 15 May 2001 12:00 AM

The title of this Congressional Budget Office document is "The Budget and Economic Outlook, Years 2002- 2011.” It’s 188 pages long. Knock yourself out, or take my word for this. No, I didn’t read it all either, just parts.

James Glassman of the American Enterprise Institute for Public Policy Research did read it all, though, and his thoughts are put forth in the article linked at the end of this bit.

There’s a chart in this document which shows something called "uncommitted funds.” These are funds being collected ("seized” would be a better word) by the Imperial Federal Government for which there is no need. There’s nothing to spend this money on! No debt to retire, no spending programs to fund.

So – just how much ”uncommitted funds” does our government have? Well, right now there are none. Zero. No uncommitted funds. That’s because there’s still debt to be retired. Right now the U.S. Government is retiring that debt at the rate of one billion dollars per day. At that rate just how long will it take to wipe out of our national debt that can be paid off? Six years. Until 2006. So, what happens in the year 2006 when all of the debt that can be paid off has been paid off? Well, that’s when the government starts taking in more money than it can spend. That’s when this little graph, now at zero, starts taking off like a bottle rocket. Just five years later, in 2011, the total amount of "uncommitted funds” held by the Imperial Federal Government will be $30,000 per American family. That’s $3 trillion dollars.

OK - I don’t want to drag this out. We’ll just close with this question – and open a little door to understanding just why Democrats are so opposed to any meaningful tax cut.

Question: If the Imperial Federal Government accumulates $3 trillion in "uncommitted funds” by the year 2011, what will it do with the money? What do you do when you have uncommitted funds? You either spend them or save them. Those are the only two choices you have, and those will be the only two choices government has. Spend or invest.

To spend you’ll have to create new government spending programs. Now that’s something the politicians have no problem with whatsoever. Spending programs produce dependent Americans and the more people you have dependent on you the more powerful you are.

Option number two, invest the uncommitted funds, is even more frightening. Just where would the government invest those funds? The same place you do - the stock market. Trillions of dollars of federal funds flowing into the stock market. Do I have to spell this out for you? A share of stock in a corporation is a share of ownership in the corporation. A share of stock in a corporation is a vote in the management of that corporation. A share of government stock in a corporation is a share of government ownership of that corporation and a share of government control over how that corporation is managed. Government ownership of private businesses? That’s the definition of socialism, my friends.

So - now maybe you can see more clearly why the left, and why the Democratic Socialist Party, is fighting so hard against any meaningful tax cut. They’ve seen these numbers. They know the money is on the way. They know that money will translate into government power - and more power for them.] So - how do you prevent the Imperial Federal Government from amassing this dangerous stockpile of "uncommitted funds?” A tax cut. A big tax cut. A meaningful tax cut. An immediate tax cut. The left is driving for a socialist America. They probably couldn’t get it through legislation. That would be to blatant, too obvious. So - they’ll just buy it, with your money. http://www.aei.org/oti/oti12890.htm

Just a little refresher on our wonderful liberal media, courtesy of the Chattanooga Times and Free Press. Surveys show:

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The title of this Congressional Budget Office document is The Budget and Economic Outlook, Years 2002- 2011."It's 188 pages long.Knock yourself out, or take my word for this.No, I didn't read it all either, just parts. James Glassman of the American Enterprise Institute...
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2001-00-15
Tuesday, 15 May 2001 12:00 AM
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