Considering the amount of deficit busting pork barrel spending in the tax compromise, it appears the GOP have forgotten about the election on November, 2nd. Tea Party members don’t want to see taxes increased on anyone, not on average American workers and not on job creators.
However, this compromise goes way beyond simply maintaining the existing tax rates we currently have. It adds billions in new spending, increasing an already out of control deficit. Here’s a small list of add-on spending to the compromise.
* $56 billion for jobless benefits
* $120 billion for a payroll tax cut
* $40 billion for tax extenders
* $180 billion on business investment tax breaks
A complete list of the new stimulus spending can be found here.
Why on earth would the GOP allow the bill to be larded up with all this new spending? Perhaps it’s because the GOP establishment didn’t get the message and they are continuing with business as usual. Well, we know the GOP establishment didn’t get the message, even though they claim they heard the voters loud and clear.
In my estimation, the compromise has very little to do with benefiting the country and has all to do with political maneuvering.
The Democrats are screaming about keeping the tax rates the same for higher income earners and the compromise over the death tax, but the reality is that they are actually angry because they won’t be able to play the “class warfare” card in 2012. It will be the Democrats who will be responsible for keeping the Bush tax cuts in place and the far left will not be able to blame the GOP.
On the flip side, it gives the GOP cover when things go bad. They will simply be able to claim it was bipartisan legislation, supported by Obama.
There is no reason to compromise with Democrats and institute another worthless stimulus program, pushing the country further in debt. In January, the GOP will take control of the House and increase their numbers in the Senate. They can simply vote to keep taxes at current levels, with no new spending. That would be the prudent thing to do for the country but this whole process has little to do with what is best for the country. It’s a fight over political positioning for the 2012 elections.
At least there are a few legislators, such as Michele Bachmann and Jim DeMint who are holding firm and standing on principles. Hopefully, the new crop of Tea Party backed candidates will put aside political self interest and cast their votes based on what is best for the country. if not, John McCain might be right. We will see a 3rd party rise to challenge the status quo.