Redstate

By Congressman Roy Blunt Posted in Congress — Comments (7) / Email this page » / Leave a comment »

If history has shown us one thing, it’s that an ever-expanding federal government financed by an ever-increasing tax agenda is absolutely the wrong way to grow our economy and create new jobs. But now almost a year into this new majority, we’ve seen time and again that Democrats are willing to impose that reckless agenda on the taxpaying public at the risk of surrendering tens of millions of good-paying American jobs.

This week, House Republicans unveiled a report (Death by a Thousand Cuts: Democrats’ War on American Jobs) that demonstrates the real cost of these misguided policies – costs that represent a real threat to hard-working families. According to this analysis, this year alone, this Congress has passed $203.9 billion in tax increases that could threaten 16 million American jobs.

Read on . . .

Just look at the Democrats’ proposed energy bill, which was pushed through the House on a party-line vote yesterday. An independent study released in November found that the combined effect of this legislation would be to both decrease the supply of available energy, and increase the cost of energy supplies essential to our economy. This legislation alone, according to the report, could precipitate a loss of five million American jobs, and a $1 trillion decrease in U.S. economic output.

On top of all that, the chairman of the powerful House Ways and Means Committee felt it necessary last month to put forward legislation that’s being dubbed the “Mother of All Tax Hikes,” or “MATH” for short. On this bill, the majority’s math is stunningly simple: By increasing taxes on working families by a staggering $1.3 trillion – the largest income tax hike in American history – Democrats have found a way to outdo even their most historic tax-raising schemes of the past.

If this plan were to become law, the effective top marginal tax rate in this country would be the same as it is in Germany – not exactly a good example of economic growth. In producing this tax hike, what Democrats fail to understand is that, when you adopt European-style tax rates, European-style growth rates can’t be far behind. And the slower we’re able grow our economy, the fewer jobs will be available for American workers – and the less able we will be to compete in a 21st century, global marketplace.

After the bill was formally released, Larry Kudlow, a respected economist and host of the CNBC program Kudlow and Company, noted that “Wall Street and Main Street are worried about recession.” He then appropriately asked, “Is this the right time to be talking tax hikes for anyone?”

The chairman of the powerful Federal Reserve, Ben Bernanke, doesn’t seem to think so. He recently warned that a massive tax increase “would be a drag on the economy” and as a result “would probably not be advisable.” For a institution like the Federal Reserve – known for its circumspection – that’s tantamount to climbing Mt. McKinley and screaming a message of warning to anyone that will listen.

And what about the American people – what do they think? According to a recent poll conducted by David Winston, 62 percent of the American people believe that now is not the time to raise taxes, while only 34 percent seem to think it is. A very generous lot, indeed – especially when it comes to seizing other people’s money.

Already struggling with the high costs of living, made worse by high energy costs and a troublesome situation in our housing market, the middle class shouldn’t be burdened with another $200 billion in new taxes, new regulations, and frivolous litigation. We should be doing everything in our power to strengthen our economy, as opposed to threatening its long-term health with ill-advised policies that threaten jobs and close the door to much needed investment.

It was Oscar Wilde, who knew a little bit about “the importance of being earnest,” who once remarked that “the best way to appreciate your job is to imagine yourself without one.” If Democrats continue down the path they’ve already established this Congress, it might not take much of an imagination for millions of Americans to appreciate the job they once had.