Democrats Pave the Road to Ruin
Four times last month, pollsters gauged voters' opinion of the Democratic-run Congress and four times they came back showing almost 3 in 4 Americans disapproving of its performance. But if voters think they hate Congress now, just wait until next January when, as expected, they twin a Democratic Congress with a Democratic president who today is Congress' most liberal member.
Besides ensuring the continued crippling increases in energy prices that will leave tens of millions of Americans shivering in their homes for many winters to come while guaranteeing the death of millions of jobs and a more rapid decline in Americans' standard of living, Democrats intend to pursue their socialist utopia with even more deficit spending, a record tax increase and wholesale disincentives to work, invest and save.
Their 2009 budget, which narrowly passed last month, raises federal spending to a record $3.1 trillion. But it does nothing to address the projected deficit that some say could reach a half-trillion dollars; boosts federal spending by an average of almost $130 billion annually over the next five years; and projects another half-trillion in phantom revenues by 2014.
Further, it forecasts a small budget surplus by 2012 by pretending the war against Islamic terrorism will be over by Dec. 31, 2009; inflicting the Alternative Minimum Tax on more than 20 million middle-class Americans; and allowing the 2001 and 2003 Bush tax cuts on income-tax rates, capital gains and dividend income expire in 2010, which would mean a record tax increase of nearly $3 trillion by 2018 and a resumption of the Democrats' punitive assault on Americans' successes and savings.
Based on calculations of a number of public and private agencies, the 116 million taxpayers will see an average increase of $1,800 in their annual tax bill come 2011, which does not account for anything the Democrats might do in the interim. For 48 million couples, the spike will total $3,000; even the elderly ($2,200) and the poor ($1,600) will pay more. Meanwhile, the percentage of income taxes paid by the top 1 percent will fall from 60 to 57. The average tax increase for Connecticut families is estimated at $4,300.
At the same time, the Democrats propose to do nothing about the $52 trillion in unfunded spending over the next 50 years in Social Security and Medicare.