We’ve Taxed The Rich, Now What?


I won’t tell you that the fiscal cliff deal passed by Congress yesterday was a good thing. I think going over the cliff would have been better for the country. The spending cuts in the sequestration were more meaningful, and the tax hikes were more broad.

I don’t think we’re going to see an appetite develop among Americans for real spending reform until a broader swath of the population begins feeling some of the pain from the rapid expansion of government we’ve seen over the last several decades.

That being said, Republicans have an opportunity here. For five years now President Obama has been harping on the idea that we must address the nation’s fiscal problems by raising taxes on the rich. “The rich must pay their fair share,” the President has repeated ad nauseum.

Ok, we’ve done it. Obama and Democrats had a showdown with Congressional Republicans, and they won. They can gloat. Taxes have gone up, significantly, and especially on “the rich.” The CBO projects that this will add roughly $62 billion in new revenues to a budget that has run a deficit over $1 trillion for the last four years.

So now what? We’ve done the tax hikes. That’s over. Now another debt ceiling looms, technically the nation has already passed it, and Republicans will be in a position to call for big spending cuts while also pointing out that they’ve already gone along with Democrats and voted for tax increases.

I’m not at all convinced that Republicans will make good on the opportunity. I suspect they’ll find a way to squander it. But the window will be open.

Rob Port is the editor of SayAnythingBlog.com. In 2011 he was a finalist for the Watch Dog of the Year from the Sam Adams Alliance and winner of the Americans For Prosperity Award for Online Excellence. In 2013 the Washington Post named SAB one of the nation's top state-based political blogs, and named Rob one of the state's best political reporters.

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  • sbark

    In the Lefts minds…….the next step is to re-define the term “rich” down and down.
    Rich was 2 million under the Clinton’ista Housing arsonist regime……..and already down to 250k under this 3rd world tin horn economic illiterat clone of Zimbaubwae.
    Next up…..the debt ceiling……….it starts then.

    • mickey_moussaoui

      yup. Ironically, (and righteously) it will be the low information dummycrat voters that will feel the pinch first. The OWS movement will double with these morons.

      • banjo kid

        In Ohio they already have lost about 50 bucks a month on food stamps , I am sure it is but an over sight on the dems part.

    • The Fighting Czech

      eventually anyone with a job, will be labeled Rich…..

  • SigFan

    And when the projected revenues from this tax hike fall short – as they always do – what will they do then? Spend more of course.

    • $8194357

      Well; they do still have check blanks and paper to print more
      worthless Federal Reserve chits…..

      • banjo kid

        And printing will go into high gear, look for billion dollar bills as the norm . Hey friend you gat change fer a billion ?

        • joeb

          Yep. I keep a quadrillion (1,000,000,000,000,000) Zimbabwe bucks in my desk drawer, just to remind me it can happen anywhere. Ten 100 Trillion (Zimbabwe) dollar notes. But here they don’t even have to be printed, it only takes inconveniencing a few electrons and ‘poof’ another 60 billion to lend…

          • Bat One

            What’s truly sad about Zimbabwe is that at one time, before Mugabe turned all the productive assets over to “the people” in the name of social justice, and before annual inflation in the thousands percent, the country used to be known as the “breadbasket of Sub-Saharan Africa, and its foreign exchange accounts were full from all the food exported to other African countries. Now, only the cronies of Mugabe have any wealth and the country is no longer able to feed its own people, and cannot afford to import the food it needs from elsewhere. Some social justice!

          • $8194357

            Thats what social justice is…
            Creating an Iluminati class
            of earthly elitist Eden seekers who
            sit on top of the ponzi………..

  • banjo kid

    The only time we will see any opposition to Obama and his policies is when the free loaders start seeing the money dry up for them. For now it is what it is and nothing we can do except wait for the next opportunity to vote, little as that helps short of crowding into the white house lawn or writing letters to our representatives will do any thing . same game and we are headed for some low times mmm? maybe this would be a good time to start a mag called Low times , someone already did that but it was opposite . The battle has been won by the socialists and now we prepare for the next battle.

    • $8194357

      “To be a socialist,” said Josef Goebbels, “is to submit the I to the thou; socialism is sacrificing the individual to the whole.”

      More “free stuff”?………..
      What happens when they run out of “other peoples” money?

      • banjo kid

        There will be blood in the streets and the 1% will bring a gun to a knife fight .It will not be palatable for sure . The real deal is killing the seniors first so that all the young ones can have what they have with out having to work for it .

        • $8194357

          What a brave new world they are selling the indoctrinated.

  • mikemc1970

    Now it’s time for Obama to circumvent the constitution and take the peoples second amendment rights from them and to whittle away at the first Amendment as often as humanly possible. We can’t have people who can defend themselves from tyranny actually speaking their minds.

    • $8194357

      Facism is the future…By Marxist social justice design.

  • http://flamemeister.com flamemeister

    The Stupid Party has a solid track-record of snatching defeat from the jaws of victory. The great biblical admonition, “Be wise as serpents, harmless as doves” is simply beyond their capacities—’cept for the dove part. Too bad.

  • HG

    Unseat Boehner.

    • banjo kid

      No unseat Obama .

  • WOOF

    The next thing to do is to recover the taxes
    owed by sham “foreign” corporations.

    The “broader swath of the population begins feeling some of the pain”,
    would be you and yours.
    Believe the broader swath of the population is living in fat times ?

    • $8194357

      Where ya been all your life woof?

      • Neiman

        He’s been at the kennel getting rabies shots an hopefully castrated.

        I got one for you to think about 7p62, just thought of it – do you remember the anti-Christ will have a mortal type head wound and survives, many calling it a miracle? Hillary has what could be considered a mortal or potentially mortal head wound, a fall producing a sub-hematoma blood clot and she wants to rise from that bed and become the next President. Now here is another good part of the story, she has been the most powerful and popular woman on earth for 7 years. I am not saying anything definite and I can hear people saying why not, but I just thought it was interesting and worth sharing with you.

        • $8194357

          The real deal or a ‘type of’ the real deal?
          In the Old Tesement there is a story about a man named ‘Barack’
          who sent out a corrupt woman to do his bidding as well…
          Can’t bring up the adress off the top of my head, but know its in there.

    • http://sayanything.flywheelsites.com Rob

      So you want to double-tax profits made by US companies overseas?

      We don’t tax those profits for a reason. They’re already taxed in those other countries.

      You plot a course toward economic destruction.

      • WOOF

        If you were double taxed as corporations are you’d sell advertising through an SayAnything Irish corporation, tax rate of 12.5 per cent. Then route a royalty payment from the Irish operating subsidiary of SA to
        a Dutch subsidiary of SA, which is then paid back to a second Irish
        holding company subsidiary of SA that is controlled in Bermuda,
        which has no corporate tax.

        ‘Double Irish Dutch Sandwich’ Shamelessly stolen from here: http://www.theregister.co.uk/2012/11/22/how_vendors_avoid_tax/

  • $8194357

    What now?

    “To be a socialist,” said Josef Goebbels, “is to submit the I to the thou; socialism is sacrificing the individual to the whole.”

    More “free stuff”?………..

    Exclusive: Pamela Geller traces death of the republic to 2 short words

    The United States of America was created as an independent nation whose founding ideal was the principle of individual rights. Freedom. Ayn Rand said that “freedom, in a political context, means freedom from government coercion.” America was the first moral government based on individual rights, the nation of the Enlightenment.

    In this age of Obama, that ideal has been tossed aside for … “free stuff.”

    I have, for some time, struggled with the new reality: America void of her reason, existing without the reason for her existence, her morality. It did not seem possible. And yet what now seems impossible is that America ever was. As we revert back to the age of the primitive, the fact that America happened at all is nothing short of a miracle.

    The United States of America was the rational man’s shining hour.

    Rabbi Steven Pruzansky of Congregation Bnai Yeshurun in Teaneck, N.J., recently wrote an analysis of the 2012 presidential election that is the best thing I have read on Romney’s election loss and the broader question of the loss of America.

    “It is a different world,” wrote Pruzansky, “and a different America. Obama is part of that different America, knows it, and knows how to tap into it. That is why he won.” What kind of different America? Pruzansky’s explanation is devastating: “Romney lost,” he writes, “because the conservative virtues – the traditional American virtues – of liberty, hard work, free enterprise, private initiative and aspirations to moral greatness – no longer inspire or animate a majority of the electorate. The notion of the ‘Reagan Democrat’ is one cliché that should be permanently retired. Ronald Reagan himself could not win an election in today’s America. The simplest reason why Romney lost was because it is impossible to compete against free stuff.”

    It is impossible to compete against “free stuff.” As Pruzansky explains: “The adults among the 47,000,000 on food stamps clearly recognized for whom they should vote, and so they did, by the tens of millions; those who – courtesy of Obama – receive two full years of unemployment benefits (which, of course, both disincentivizes looking for work and also motivates people to work off the books while collecting their windfall) surely know for whom to vote; so too those who anticipate ‘free’ health care, who expect the government to pay their mortgages, who look for the government to give them jobs. The lure of free stuff is irresistible.”

    And given Obama’s relentless hostility to Israel, Pruzansky says, “this election should be a wake-up call to Jews. There is no permanent empire, nor is there is an enduring haven for Jews anywhere in the exile. The American empire began to decline in 2007, and the deterioration has been exacerbated in the last five years. This election only hastens that decline. Society is permeated with sloth, greed, envy and materialistic excess. It has lost its moorings and its moral foundations. The takers outnumber the givers, and that will only increase in years to come.” His conclusion for American Jews is stark: “We have about a decade, perhaps 15 years, to leave with dignity and without stress.”

    What was once unthinkable is now not just thinkable, but entirely possible. When I was a child, I remember sitting in the backseat of the family car listening in on my parents’ conversation. I am not sure what led to the following exchange, but I never forgot it. My father said, “Nothing is forever.” And my mother said, “Nothing?” He repeated: “Nothing.” And my mother thought for a moment and asked, “Not even America?” He said, “Not even America.”

    At that time the idea that America could fall was inconceivable to her (and to me). America – freedom – was forever.

    But that is not so. And scarier still is the tenuous status of Jews in America. It’s hard not to draw parallels to persecuted Jews in once-friendly nations and their subsequent persecution, expulsion and slaughter. To think that Poland was once the Israel of Europe. Millions of Jews made Poland their home and had a long history there of over a thousand years. And in three short years … complete annihilation.

    German Jews, meanwhile, were so very vested in the motherland they considered themselves Germans before Jews. They were war heroes for Germany in World War I.

    How long do Jews have in Obama’s America? How long before we can’t walk down the street with a kippah or a Star of David? This is already reality for Belgium Jews, Swedish Jews and French Jews. Large portions of Norway are already Judenrein.

    Proud Jews at Berkeley or the University of California Irvine can give you a glimpse of how things can turn, quickly, in America as well. Now that America itself has turned, everything is up for grabs.

  • lazytn

    When they run out of rich peoples’ money. I would guess the next move is to nationalize the oil wells. after all they didn’t drill those wells.

    • $8194357

      Hillary wanted to do that in the 90’s to pay for her ‘socialized medicine’.
      They will get er done someday as they never quit.

  • ellinas1

    We’ve Taxed The Rich, Now What?
    Written By:Rob Port
    Jan 2, 2013

    We tax them some more.