Thursday, April 2, 2009

The Republican's Budget.

The GOP finally released their full alternative budget proposal yesterday.

If you want to download the entire thing, click here.

I'll admit, some of the budget points make some sense. They talk about ending the bailouts. I can live with that.

They shows graphs showing that both their budget deficits and the national public debt would go way down with this budget as compared to Obama's. But how?????

By freezing all government spending. (except for defense spending, this they would increase by $50 billion).

Gutting medicare.

Repealing all stimulus bills.

They then give all these impressive figures about how the deficit spending is $100 billion less than Obama's, and how the Public Debt will be less in 10 years with their budget than with Obama's. How will this be done?

By going into they go into Fantasy Land.

They want to make Bush's tax cuts on those that make over $150,000 a year permanent. A cut from 39% to 35%.

They continue.

They would add to the Bush tax cuts.

The wealthy (those that make over $150,000 a year) would get an additional 10% off, to 25%.

Corporation's tax rates would go down to 25% instead of 35% (current) and 39% (Obama's).

Suspends capital gains taxes.

The middle classes taxes? Stays the same.

But how does this bring down the deficit spending and public debt????

It doesn't.

Oh wait, I forgot a crucial part of their budget.

The tax cuts down to 25% are optional. Yes. They assume that the wealthy and corporations won't take them up on the 10% decrease in the taxes, that they'll voluntarily pay taxes at 35%. All of their figures assume the 35% rate. If they gave those tax cuts to those that carry the tax burden, their deficit spending should SKYROCKET, followed closely by a skyrocketting public debt, much higher than Obama's.

Looks like the Republicans fail again.

*UPDATE*

This budget was so ridiculous that, although no house republican voted for the Dems' budget, the Repubs lost this battle in the house 293-137, with 38 of their own voting against it.

6 comments:

OpenMindedRepublican said...

Seriously.
These guys are just... flailing.

Is there an adult in the room?

James Wolfer said...

There really isn't. If you read down in my posts, the current GOP has lost so many people...myself included.

OpenMindedRepublican said...

It can't last.
Gingrich warned today about a third party forming.
I don't know that he is really part of the solution, but he is sure a big name to be saying it.

The 'ex-republican' party. Or just a 'moderate' party. Hmmm, there's a post in there somewhere.

Shaw Kenawe said...

Why did the Republican Party abandon the moderates? Certainly there were more of them than the fringe. I don't know what happened to the GOP, but so long as they admire people like Rush Limbaugh and consider him the voice of the GOP, they'll never get enough young people to join them to make their party viable for the future.

I have David Frum's websit on my blogroll. He's smart, he's talented, he's reasonable. We can differ on way to make this country better, but when you read him, you read someone who argues from reason and facts, not fear and loathing.

I guess it's just easier to listen to simple-minded (actually dishonest) demagogues like Limbaugh and Beck--it doesn't take any critical thinking to listen to them. They appeal to our baser selves and that takes no brain power.

I don't want a one-party system. That invites corruption. And we've had just about enough of that.

James Wolfer and OMR, you're the hope of the GOP. You ought to stick with it until it wakes up from its coma.

Here's the David Frum blog and his take on Limbaugh at CPAC:

TRUTH 101 said...

Why any moderate would consider himself a republican is beyond me. Any deviation from Rush Limbaugh's talking points is considered traitorous to the republicans. The offenders are hounded and beaten down until they apologise and kiss Rush's ample bottom. Or they just go away worn down from the beating.

James Wolfer said...

I don't consider myself a Republican anymore. Haven't for a few years.

I just don't know what else to be. The Dems are in power now, and we'll see how well they do. I don't want to leave one bad party and then join another.