Dec 29 2012
Don’t get me wrong: It would be better not to raise taxes on anyone, pursue pro-growth tax reform and cut the size of government instead. But that’s not what the American people voted to do last month. Americans cast their ballots for big government.
Now it’s time to pay for it.
Until now, the growth of government under President Obama has not hit the pocketbooks of most Americans. During Obama’s first term, federal spending grew to more than 24 percent of GDP — the highest it has been since 1946. Yet almost no one in the country (except smokers and those who frequent indoor tanning salons) saw their taxes rise. Quite the opposite: 160 million Americans saw their payroll taxes reduced from 6.2 to 4.2 percent.
How can we expect people to care about the growth of government if it doesn’t cost them anything?
Ideally, we would stop the spending binge and live within our means. But if the nation is not up to that, then we should all pitch in and pay for it — all of us.
Extending the tax cuts also shielded Americans from the costs of Obama’s spending spree. Shopping on a credit card is fun until the bill comes due. But if the bill never arrives, what incentive do people have to stop the spending?
And if it does not cost ‘us’ the 2012 voters, then we know who it will cost – and dearly: