The Senate Agrees To Raise Taxes $41 For Every $1 In Spending Cuts

January 1, 2013 10:38 amViews: 441


President Obama, with the help of the State run Media, has scored a big time victory for Big Government as the Senate has voted to avert the so-called fiscal cliff. President Obama got his big tax hikes on the wealthy and republicans caved and got a pitiful amount of spending cuts. While the House still has to vote on the measure and can still reject it, members will be under intense pressure to vote for the bill.

The sad news however is that this deal is not a real long term deal for the American people in any way shape or form. While the majority of Americans will now temporarily avoid having to pay higher taxes, according to the Congressional Budget Office this bill raises taxes $41 for every $1 it demands in spending cuts. And the truth of the matter is that there is a history of taxes being raised for promised spending cuts that somehow never seemed to materialize. I am sure beyond any reasonable doubt that this will be the case again this time.

Read below from Brietbart how this deal gives us $620 billion in new taxes and only cuts $15 billion in spending. You will never hear about this 41 to 1 ratio on the network news. Don't think for a minute that $620 billion i new taxes will not affect us all. Big spending, big government wins again and will continues to grow like a cancer. This is what our thieving elected officials have once again given us.

From Brietbart:

According to the Congressional Budget Office, the last-minute fiscal cliff deal reached by congressional leaders and President Barack Obama cuts only $15 billion in spending while increasing tax revenues by $620 billion—a 41:1 ratio of tax increases to spending cuts.

When Presidents Ronald Reagan and George H.W. Bush increased taxes in return for spending cuts—cuts that never ultimately came—they did so at ratios of 3:1 and 2:1.

“In 1982, President Reagan was promised $3 in spending cuts for every $1 in tax hikes,” Americans for Tax Reform says of those two incidents. “The tax hikes went through, but the spending cuts did not materialize. President Reagan later said that signing onto this deal was the biggest mistake of his presidency.

"In 1990, President George H.W. Bush agreed to $2 in spending cuts for every $1 in tax hikes. The tax hikes went through, and we are still paying them today. Not a single penny of the promised spending cuts actually happened.”

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