OK Folks its time to hide your money, the progressives are coming and they want everything you have. If you think the two trillion of new taxes (between Obamacare and fiscal cliff deal) are the end “forgettaboutit” says NY Senator, the self-serving Chuck Schumer.
NY’s Senior Senator was on NBC’s “Meet the Press” reporting that the Senate democrats are looking forward to creating a budget (the first in four years) and it will include significantly higher taxes.
Senate Democrats plan to draft a budget blueprint that calls for significantly higher taxes on the wealthy, oil and gas companies and corporations doing business overseas, reopening a battle over taxes Republicans had hoped to lay to rest with the “fiscal cliff.”
For nearly four years, Senate leaders have ducked their legal duty to craft a comprehensive budget framework. Now, however, Democrats see the budget process as “a great opportunity” to pursue additional tax increases — and to create a fast-track process to push them through the Senate, Sen. Charles E. Schumer (D-N.Y.) said Sunday on NBC’s “Meet the Press.”
“There’s going to have to be some spending cuts, and those will be negotiated,” Schumer, the No. 3 Democrat in the Senate, said in an interview after the show. “But doing a budget is the best way for us to get revenues.”
On ABC’s This Week White House political adviser David Plouffe echoed Schumer’s tax warning:
“We are going to require some more revenues,” Plouffe told me on “This Week.” “John Boehner himself said he thought there was $800 billion in revenues from closing loopholes. We’ve dealt with the tax rate issue, now it’s about loopholes.”
“And I think the country would be well served by tax and entitlement reform because it would help the economy,” he added.
Plouffe said that Obama has met Republicans “more than halfway,” and that any deal needs to be “balanced.” Republicans, including Senate Republican Leader Mitch McConnell, have said that the revenue debate is “over” and that they would not negotiate with the White House for additional revenue in a budget deal.
“We need spending cuts and entitlement reform and revenue. Have to have that,” Plouffe said.
According to the CBO the Fiscal Cliff deal added nearly $4 trillion dollars to the national debt, I can’t wait to see what the latest Democratic Party plan tries to do to our nation’s impending insolvency, and whether the GOP has the guts to fight it. In the interim, protect your wallet because the progressives are coming to dip their hands into your pockets.
UPDATE: Over at the Shark-Tank, my friend Javier tells us that Debbie Wasserman Schulz wants to reach into our pockets also (which is wrong on so many levels). You can read his story here.