Like many of his Republican brethren, U.S. Rep. Joe Wilson (R-S.C.) doesn’t like the proposed federal budget, according to a recent press release.
“Mr. Speaker, Democrats have broken their promise not to raise taxes on 95 percent of Americans. Democrats are proposing to tax small businesses and everyone who plans to turn on a light, drive a car, or heat their home.”
Is Wilson speaking the truth or is he engaging in a little bit of the ole in-out, in-out spin-fibbery? According to the AP, Wilson is, well, read on”
Geithner said Obama’s plan would cut income taxes for 95 percent of families and 97 percent of small businesses. Raising taxes on couples that make more than $250,000 would make the tax system more equitable, restoring the balance that existed before a series of tax cuts were enacted under former President George W. Bush, he said.
“This budget targets tax relief to families that have lost ground the past eight years,” Geithner said.
Another AP report (this one from the Boston Globe) once again points out the facts — namely that 95 percent of families will get tax cuts — and how GOP spinsters are able to argue that new taxes on businesses that emit greenhouse gases will then trickle down to consumers … not that they say that. And with good reason.
But Obama also would impose a tariff on industries that pollute. Obama’s top budget and economic advisers say those costs will get passed along to consumers. A tax? Indirectly, yes. Felt by most Americans? Yes, again.
Republicans also have asserted that Obama’s tax increases would occur in the midst of a recession, a bad idea when the economy needs consumers to spend more.
But the tax increases won’t occur for two years. The tariff on greenhouse emissions won’t generate revenue until 2012, according to the president’s budget. Obama’s economists are counting on being out of the recession by then, and the chairman of the Federal Reserve Bank has said “there is a reasonable prospect” that 2010 could be a year of economic recovery.
See, here’s the dirty truth about trickle down economics: When it comes to big biz, wealth doesn’t trickle down, but pain does.
Surely, Wilson is aware that he’s twisting the facts.
That said, we noticed an curious trend with the way Wilson signs off his economy-related press releases over the past three months, something that he doesn’t do with any other press release, not even the ones related to the military. (He is on the Armed Forces Committee after all.)
Here’s his oddly out-of-place valediction:
“In conclusion, God bless our troops, and we will never forget September 11th.”
The terrorist don’t hate us for our freedom. They just hate tax cuts. Stay cool. Support City Paper. City Paper has been bringing the best news, food, arts, music and event coverage to the Holy City since 1997. Support our continued efforts to highlight the best of Charleston with a one-time donation or become a member of the City Paper Club.