As everyone knows by now the “Super Committee” has failed to accomplish it’s assigned task. While this comes as no surprise to me I am sure that there are those out their who were hold on to hope that were hoping that the GOP/Tea party terrorist would stop holding the country hostage and negotiate. If one had taken a close look at the composition of this committee of seven GOP/Tea party terrorist and five Democrats it would have been apparent from the start designed to fail. By now you are saying wait a minute there were only six terrorist and six Dem’s. I include Max Baucus with the GOP/Tea party terrorist base on his performance during the health care debate which gave rise to the Tea party arm of GOP. Good Ole boy Max along with his buddy Grassley were the driving force behind the formation of the Tea party both engaging in a disinformation campaign during the “gang of six” health care negotiations. Those the “Super Committee” was designed to fail.
Now to my central question can the state of Pennsylvania or the country afford Senator Toomey? During the negotiations after all it was Senator Toomey who put some increase in revenues on the table did he not? Well did he really but revenues on the table and if he did who would bear the cost of those increases? Lets take a look at the Toomey plan.
The Toomey plan can be found here: http://theconstitutionalistblog.com/wp-content/uploads/Toomy-Plan.pdf . Under the Toomey plan would ”
uses savings from closing tax loopholes and narrowing other tax expenditures mainly to set tax rates permanently at levels well below those of President Bush’s tax cuts, and to make permanent both
the highly preferential treatment of capital gains and dividend income under the Bush tax cuts and the temporary hollowing out of the estate tax for estates of the wealthiest one-quarter of 1 percent of Americans that Congress enacted in late 2010. While there would be a modest increase in revenues the majority of the increase would be used to not only take the ”Bush” tax cuts off the table but to reduce those tax rates even further while increasing taxes on the poor and middle class. This takes what would be a $800 billion revenue stream with the expiration of the “Bush” tax cuts at the end of next year out of play. The Toomey plan reduces the tax burden from the top to the poor and middle class and in fact would increase the deficit in the long run. First Toomey never specified which loop holes would be closed making scoring impossible. Toomey like many GOP terrorist insist that the closing of loop holes must be done in a framework of comprehensive tax reform. Although they have been provided that frame work many times. You can find the results of the Bush tax reform commission of 2005 which the GOP while in charge of both the House and Senate failed to act upon in the following links. http://theconstitutionalistblog.com/wp-content/uploads/TaxPanel_1_11-1.pdf, http://theconstitutionalistblog.com/wp-content/uploads/TaxPanel_5-7.pdf, http://theconstitutionalistblog.com/wp-content/uploads/TaxPanel_8-9.pdf, and http://theconstitutionalistblog.com/wp-content/uploads/TaxPanel_4_11-1.pdf . While this commission had limitation place on it like having to be revenue neutral those still requiring spending cuts it at least identifies changes to the tax code that could be made that would increase revenues, introduce some degree of fairness into the code and increase growth. Now in order for revenues to increase the tax rates would need to return to pre Bush levels but would allow the country to not only eliminate the deficit over time but eliminate the debt.
Based on My reading and I would suggest that if my readers take the time to read the document links I provided that they also read the links contained within those documents. That being said again based on my reading the state of Pennsylvania and the country cannot afford Senator Toomey or his puppet Master Gover Norquest Pennsylvania can do better that Senator Toomey and the country can do better than those who sat at the table on the GOP side of this so called “Super Committee”.
Now some of My readers may be wondering why I singled out Senator Toomey, well the simple answer is he is one of the two Senators who represent Me.
Senator Toomey and his terrorist cohorts need to remain in Washington until this problem is fixed not only just a simple $1.5 trillion dollar fix but a fix that will solve this problem for at least the next twenty years. Get to work Toomey!