Scolds and Tea Bags

by digby

They’re are out in force today:

Why your taxes could double

By David Walker

Even under the best of economic circumstances, tax season is a tense time for American households. The number of hours we collectively spend working on our returns is probably a lot more than government agencies claim.

The burden in financial terms is even greater: A recent independent survey found that the average American’s total federal, state and local tax bill roughly equals his or her entire earnings from January 1 up until right before tax day.

Now imagine that tax bill doubling over time.

In recent years, the federal government has spent more money than it takes in at an increasing rate. Total federal debt almost doubled during President George W. Bush’s administration and, as much as we needed some stimulus spending to boost the economy, the nonpartisan Congressional Budget Office now estimates total debt levels could almost double again over the next eight years based on the budget recently outlined by President Obama.

Regardless of what politicians tell you, any additional accumulations of debt are, absent dramatic reductions in the size and role of government, basically deferred tax increases. Remember the old saw? “You can pay me now or you can pay me later, with interest.”

[…]

Unless we begin to get our fiscal house in order, there’s simply no other way to handle our ever-mounting debt burdens except by doubling taxes over time. Otherwise, our growing commitments for Medicare and Social Security benefits will gradually squeeze out spending on other vital programs such as education, research and development, and infrastructure…

Effectively addressing these issues will require tough choices and comprehensive reforms, including budget controls, changes to our entitlement programs, reductions in health care costs, other spending cuts, and yes, tax increases. But as the old saw goes, paying now, or paying soon, won’t be as painful as paying later.

So as you file your tax returns this year, bear in mind that no matter how much you’re paying now, you’ll pay much more in the future because of Washington’s failure to get its finances in order. If you don’t like the idea, then get informed and get involved. And by listening rather than punishing, help encourage our elected officials to speak the truth about our financial condition, even if it means reforming entitlements, cutting spending, and yes, raising taxes.

Now call me crazy, but it seems to me that about eight years ago a president left the nation a surplus and a new president came in on a platform of “no new blowjobs” and “it’s your money.” And Walker’s anti-deficit benefactor, Pete Peterson, went strangely silent while that president and his party spent the country into oblivion on useless wars and tax cuts for the rich. They have no credibility.

The owners of America nearly destroyed the golden egg (again) and they are gathering their forces to ensure that they will pay no price for their thievery. If they can manage to destroy the American safety net while they’re at it, all the better.

All these wealthy front groups are coming together to fight any kind of reform that will benefit the average person. There is nothing more threatening to the ruling class than the possibility of average citizens becoming politically empowered and actually voting their own self interests.

h/t to steve a