Obama will get his repeal of Bush Tax cuts for over 500,000 (I think it was that number's gone up and down), but then what do the Republicans get? Don't they have to worry about Norquist's pledge of never raising taxes EVER or get kicked out of office?
Here's the thing, Norquist and people like him aren't fools, they know that a signing statement is only as good as the people who are alive to sign it. I doesn't reassure that our children's politicians can't raise taxes, Democrat or Republican. So how about making Norquist's constitutional amendment? If that won't earn forgiveness I don't know what will.
FISCAL PEACE AMENDMENT
- Federal income tax and payroll tax may never again be increased nor decreased. Tax brackets may be changed but ONLY for the purposes of inflation and deflation of currency.
Wait... not decreased? Why? To prevent a Bushism from happening again and being permanent. It is a double line in the sand. There are going to be some Republicans who have the pipe dream of no income tax that will hate it, but there are also going to be some Democrats who have the pipe dream of taxing all corporate profits that also hate it. It's time to remove the pipe from both of these mouths and send this message. We want a government that works, so if Obama is sure that this tax increase will fix these problems, then fine but this will be the last time taxes are on the table.
But there are many other reasons Republicans should love this Amendment:
There will be other tax fights in the future, what deductions you get and sales taxes on particular items. However Americans will sleep soundly knowing this is the rate you'll be taxed, forever and ever, Amen. Small businesses won't worry about increases on the federal level they can concentrate on running their businesses, the tax of fighting about taxes will be alleviated at the federal level.
The amendment will assure that the only way to effectively increase income tax in the future at the federal level will be fiscal responsibility in the form of deflation. It's important that the government help people understand this as it could get people upset that their taxes are effectively "going up" when they really aren't.
There, financial crisis solved, yawn, next.