Don't Wait For Congress -- Give Yourself a Tax Cut
As usual President Obama and the Democrats want to have it both ways on an issue. As Rush insightfully pointed out during his show today, from the very inception of Social Security, the Democrats have claimed that it was not an entitlement program but rather a "retirement" program. That it was not a tax but an actual "investment" in your own future that you were funding and that it was kept in a "lock-box" separate from the general funds. Most of us now realize that the only thing the vault that the Social Security funds are supposedly locked away in is good for is hearing ones own voice echo (Obama should like that).
All of a sudden President Obama wants us to believe that the very future of this Nation is riding on an additional two month extension of employees not having to "contribute" to their government required "retirement plans" called Social Security. Because they now think that being on the side of "tax cuts" will benefit the Democratic Party, what they had previously called a "contribution" is now called a "tax" for political gain.
So which is it -- a retirement program or an entitlement program? Is it a contribution or a tax? Whatever you want to call it, this two month extension is the economic equivalent of pouring a liter of water on a withering acre of vineyard during a drought and expecting it to bear fruit. Americans need a growing economy, not what equates to free TV cable for two months.
If we're going to fall for the Democrat's bait-and-switch of definitions and assume that their idea will work then what is the point in waiting for Congress to act? We can receive a "tax cut" right now. Following their logic, we can accomplish the same thing if we stop funding our current retirement plans for two months. Just stop contributing (paying taxes) to those IRA's and 401K's. If the Democrats are correct in their assertions, doing this should really get the economy roaring. I know -- something doesn't add up.
Of course if the Democrats have really changed their tune about tax cuts then I'm sure there'll be plenty for them to cordially discuss with Republicans the next time they sit down at the table with them. I wouldn't hold my breath though if I were you.
Scott blogs at www.politiseeds.com