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Will Republicans commit suicide by reneging on Norquist’s anti-tax pledge?

November 26, 2012 By 3 Comments

On this day, Monday, November 26, Congress, returned from its week-long Thanksgiving holiday at which time lawmakers and President Obama will attempt to avert a looming fiscal crisis which very will could send the US economy plunging into another recession.

If the top 5% percent already pay 40% of taxes, what is their ‘fair’ share?

Republicans, until recently, insisted that “raising taxes on the wealthy would be counter-productive and only serve to slow economic growth and ensure that the country continues to be plagued by economic stagnation.”  Also, “that higher taxes would dampen spending and hiring and investment by business owners.”

Now there is a new wrinkle.  38 Senators and 219 House members have signed Grover Norquist’s anti-tax “Taxpayer Protection Pledge.  Norquist heads his Americans for Tax Reform advocacy group and is a powerful political player in the US budget debate.  Over the span of two decades Republican lawmakers signing Norquist’s pledge have vowed never to vote for tax hikes, brought about when George H.W. Bush broke his “read my lips” no-new-taxes promise and then lost his bid for a second term.  The pledge was successful.  Since 1993 there hasn’t been a major tax increase in Washington with the exception of the 2010 ObamaCare law, which not a single Republican voted for.

Continue reading at Illinois Review…

 

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  • Wolf

    There is no reason to raise taxes when the taxation is already so abusive in the Public Sector today. If one examines all the taxes from income, sales, property, licenses and fees it is absolutely oppressive and it must be to keep the massively bloated Public Sector operations with their 50% over staffing and compensation plus their millionaire pensions. There is no way the US can avoid the impending fiscal collapse with 23 million Public Sector employees living like Kings and Queens off the backs of the taxpayers. Clearly our forefathers could not support a King and we cannot support 23 million of them. The fundamental issue today is not taxation but massive over spending and that spending is on the wrong things. Today the Public Sector labor costs are so high in these bloated operations that basic Safety and Health of the taxpayers is jeopardized as the basic maintenance of the infrastructure cannot be done. Unfortunately the long overdue restructuring and reform of the Public Sector will not occur from the inside as both parties are major beneficiaries of this fraud that has been perpetrated on the taxpayers. It appears now that the US will collapse before the EU as the corruption within the entire Public Sector is at epidemic levels and as we have witnessed over the last decade the Constitution has long been abandoned as the entire Judicial System has become nothing but Political Hacks. Having escaped from Communism it is hard to see America destroyed by it without any resistance to fight for the freedoms and liberties that made it different from any other place on this Planet.