It's not just "It's The Spending, Stupid" (or... or.... or....) It's the stupid spending, too (or... or... or...)
The evil-party meme that all we have to do to balance our budget is tax those evil rich is really getting a lot of air play. As I wrote the other day,
A few months ago, when the debate over raising taxes on incomes over $250,000 was going around, the Secretary of Treasury, TurboTaxTim himself, said it would add about $30 billion for this year and $700 billion for 10 years. $700 B, not 10 times 30 or $300 B? They must be assuming some wild growth. For this year, $30 billion from those taxpayers is 2% of the projected deficit of $1.5 trillion. Really makes a difference, doesn't it. Repeat after me: "It's the Spending, Stupid".One of the under-reported (by which I mean "never-reported") aspects of the "Bush Tax Cuts for the Wealthy" is that they increased the percentage of the tax burden paid by the wealthy to levels never before seen in our history. The top 1% pays nearly 42% of the total tax burden! The morons on the bottom should be trying to thank those people, not take more of their stuff!
On a day when Standard and Poor's downgrades their outlook on the US from "stable" to "negative", indicating an attitude that we don't take our debt seriously, what are we to do? What's the sense of having a debt ceiling, if every time they get close to it, they just raise it? What if we just cut spending?
John Galt Fla over at Shenandoah puts the Paul Ryan plan under the microscope and shows how the numbers just don't work out. (H/T, WSRA) Unfortunately, his recommendations fall short in my estimation, and some of the numbers "just don't seem right" (Social security with a surplus? Didn't that go away last year?). All of his recommendations are cuts to discretionary spending, and as I understand it, you could shut down every last Federal agency except Medicare and Social Security and still not fix things.
So Ruger has announced their SR1911? From what I see, John M Browning (PBUH) would be pleased. For me? I don't know... I am strangely drawn to 1911s until I pick them up. One of these may be more in line for my safe. Or one of these, if I'm ambitious.