Amid the Gulf Coast oil spill crisis, Congress is ready to do what it does best: raise taxes. According to H.R. 4213, tax prices will be raised up to 32 cents a barrel to clean up the mess BP is (or should be) responsible for . However, that is not the suprise. It is estimated that the increase could sum up to $11 billion for the next decade, but this tax increase is only apart of the $200 billion Congress had added for other purposes.
President Obama and Congressional Democrats have repeated said that BP is going to pay for cleanup. "Tax payers will not pick up the tab," says Senate Majority Leader Harry Ried.
Even though BP exectuives promised to pay for the "legitimate claims," according to the U.S Chamber of Commerce, the tax increase was ineptly put together. Regardless of how much BP will be responsible for the damages, the bill will still add $134 billion to the federal budget deficit.
Of course, time will tell how much of the actual amount the tax payers will end up paying for. However, effieciency and competence are the questions here. Just like the disastrous federal reponse to Hurrican Katrina in the Gulf Coast, this is ridiculous. Hell, I am still surprised that Washington hasn't completely taken over this issue from BP yet.
I hope I haven't already lost you. But before i do, let me just say I am a huge supporter of Ron Paul. I have read his books, preached his message, and challeged all criticism toward him and the liberty movement. But I rise in strong opposition toward a 2012 presidentail bid.
As we all know, the policies of the adminstration and the congress have sent the economy 10000mph in the wrong direction, America is close to its day of reckoning, and as establishment politicians are being picked off one by one, supposedly "new" and "principled" politicians are making their way in. But is that what we want?
In bad economic times, it is imperative to do 4 things: raise interest rates, cut taxes, cut spending, and defend your homeland. Whether you are a blue democrat, red republican, purple socialist, green libertarian....whatever, THESE are the policies that are going to be enacted and they are NOT going to be any political legacies anytime soon.
So as establishment politicians make their way out of washington, and new faces with principled philosophies make their way in, they are simply going to enact the policies that would have been placed by the establishment. I predict the outcome of the depression (correction) will be blamed on liberty, and the free market, which will successfully tarnish the name of capitalism.
If Ron Paul was president he would be forced to govern a torn and broken nation, and although the correction would be painful at first, it will be enough to politicize as a failure of capitalism, liberty, nonintervention, and peace.
KEEP ESTABLISHMENT IN OFFICE. LET THEM CATCH THE BLAME THEY DESERVE. THE INEVITABLE IS THE INEVITABLE.
You could have made the same statement about Obama two years ago. Keep the Republicans in office and let them catch the blame they deserve.
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