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Wherever politics intrudes upon economic life, political success is readily attained by saying what people like to hear rather than what is demonstrably true. Instead of safeguarding truth and honesty, the state then tends to become a major source of insincerity and mendacity. – Hans F. Sennholz
The politician’s speech is seldom precise or logically reasoned. Seeking a favorable image, the politician talks in generalities, exaggerates and obfuscates.Beware of The Gang of Six
Senator Kent Conrad said the Gang of Six’s plan would, "find net tax relief of approximately $1.5 trillion." What Conrad did not say is that tax revenues would increase by $3 trillion. Why the discrepancy? Conrad knows tax increases of $4.5 trillion will occur when the Bush/Obama tax cuts expire. Thus, Conrad’s “relief” is a $3 trillion revenue increase instead of a $4.5 increase. Conrad is deliberately deceiving the public.
Also, the Gang of Six claims to reduce billions in taxes] by eliminating the onerous alternative minimum tax (AMT). Wrong. Historically, the AMT is repealed every year because it is a detested burden on millions of American taxpayers. Thus, this claimed tax cut is non-existent.
As to spending, except for freezing federal pay, terminating long term care legislation and altering the consumer price index, the Gang of Six only proposes that various congressional committees reduce spending billions of dollars. These future cuts are a ruse.
In reality, the Gang of Six extracts a $3 trillion tax increase with minimal spending cuts. This is politics as usual in D.C. - a continuation of the tax increases and spending cut deceptions that have created our debt crisis.
Wretchedly, the Gang of Six’s financial plan perpetuates America’s decline. Equally harmful, these deceits and subterfuges are morally wrecking America. Instead of safeguarding truth and honesty, the state then tends to become a major source of insincerity and mendacity.
Read a more detailed report by Marc A. Thiessen at AEI.. http://www.aei.org/article/103900