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Hot Post: The China Syndrome: Meltdown with Keith Olbermann Part 57

Posted on December 12 2010 10:00 am
David Forsmark is the owner and president of Winning Strategies, a full service political consulting firm in Michigan. David has been a regular columnist for Frontpage Magazine since 2006. For 20 years before that, he wrote book, movie and concert reviews as a stringer for the Flint Journal, a midsize daily newspaper.

This popular post was originally published December 8, 2010.

Here’s something I bet you didn’t know:  Every dime the U.S. Government doesn’t take from you, every penny it lets you keep by its good graces, let’s face it, your whole paycheck has to be borrowed from China.

While the whole mainstream media’s insistence on calling keeping the tax rates the same is a “tax cut,” implies that all your money really belongs to the government, Keith Olbermann and an obscure Democrat Congressman, Bobby Scott, just came out and expressed that totalitarian view last night in a segment curiously entitled, “America’s Secret Debt.” ( Secret?)

In fact, Scott objects to every part of the Obama compromise—even not raising taxes on the “middle class”—at a time when we aren’t going to raise federal employees pay.  Seriously, that’s what he said, while Keith nodded soberly.

Hmmmm, not to introduce logic or anything, but wouldn’t we be borrowing the federal pay increases from China too?

But Olby and Scott only objected to “borrowing” money for tax cuts from China, actual spending was never objected to.  So, so-called liberal spending priorities are set in stone, they are holy writ, now we just gotta decide how much to take from whom to pay for them…

Here are just a few of the things advocated by Keith Olbermann and Bobby Scott that they have never objected must be paid for with loans from “China, Saudi Arabia, or wherever.”

  1. Extending uemployment benefits for 2 years
  2. A Trillion for health care
  3. A trillion for the “stimulus” to bail out public employee unions
  4. A trillion to bail out Wall Street and the banks
  5. A billion for black farmers who were discriminated against by the USDA, whether they were farmers or not, or discriminated against, or not
  6. Billions to unfreeze federal pay

It’s been pretty hilarious to hear Obama and the Democrats talk about just how much of a tax break George W. Bush gave to middle income taxpayers.  They whine about how much taxes would go up for “working families,” when they voted against giving those tax cuts in the first place, saying it was only “tax cuts for the rich.”

Scott inadvertently let that cat even further out of the bag by breaking it down this way.  While Obama and the lamestream media constantly talk about “700 billion in tax cuts for the rich,” Scott, a newly converted deficit hawk said.

BOBBY SCOTT: If we extend all the tax cuts we’ll  be borrowing 3.7 trillion dollars from all over the world, if we pass just the tax cuts for that portion with your income under $250,000, we’d have to borrow 3 trillion.  It’s hard to make that case that borrowing $3.7 trillion that our grandchildren will have to pay off is fiscally responsible, but borrowing just $3 trillion from foreign countries that our grandchildren will have to pay off, well that’s fiscally sensible.”

In other words, at a time when we are freezing salaries for federal employees, we must take more money from every taxpayer.

And by the way– so, the Left now admit that 80% of the Bush tax cuts were for the middle class?

But over on NBC, the supposedly objective arm of NBC news, on the Today Show, anchor Meredith Viera and CNBC correspondent Erin Burnett inadvertently made the argument for why conservatives should always be trying to cut taxes for the foreseeable future:

BURNETT:  …The New York Times did a very interesting analysis this morning that said, Meredith, if we didn’t give people over $250,000 the break here, we’d save $60 billion a year. And for that we could have universal pre-school for free and provide free college tuition for half of the college students in this country…

It becomes pointless to argue that hey, wouldn’t we be borrowing our daycare and tuition from the Chinese…

Here is the simple truth of the matter.  Even while Obama has admitted the truth of the Laffer Curve, that raising taxes depresses economic activity and digs an even deeper hole, that’s not even really the issue anymore.  We have to recognize one thing:

If you send it, they will spend it.

Starve the beast.

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