I am distressed with the budgetary hearings that have been reported in the news. The Bush tax cuts are one of the only good things in the economy right now. I say that because our citizens were in a similar position in the 1970's with extreme interest rates, staggering inflation and high taxes. Our economy and employment failures and troubles were legendary. With the Democratic budget proposal we face all of that and more.
$683 billion dollars in tax hikes – including the .50/gallon proposed fuel tax to fight the fictional man-made global warming, plus the ridiculous run up in fuel prices caused by the oil futures speculation market will bury citizens and the country. Aiming tax rate increases on those who are making $30k for individual and $60k for couples is ludicrous. Most people who have a degree and are 2 worker families are making those amounts of money. They are also struggling under record fuel prices – which are driving record food prices.
You have to eat – and feed your kids and you have to drive to get to work. Short of those 2 activities, people will not be doing much this year. The price of milk has risen from $1.99/gallon last summer to over $5.00/gallon now. That is a 280% increase in under a year. Ground beef has risen 167% in that same time frame. Boneless chicken has risen 220%. Gasoline has gone up 132% over the same time last year. ($2.53/gallon to $3.35/gallon - I am so happy I keep track of these prices in a spreadsheet)
If you average those numbers together, you get an average increase of 139% over last year on necessary items – that is an inflation rate on those items that is much higher than the government reported rate of 3.4%. 3.4% - WHERE do they get that number?
I do not know about you, but my salary has not risen at the same rate as consumer goods. In fact, my salary stayed the same this year – due to cost cutting measures. So, I lost purchasing power and we have tightened our budget. That is true of most Americans.
My suggestion to all of our officials is to cut the baloney and act in a way that will help – not drown the people they represent. Otherwise, many political leaders may find themselves looking for a job in November. I suggest Nancy Pelosi and her counterpart in the Senate get a real clue on how Americans feel.
NOW how good do Obama and Hilary look to you?
Reference to the Tax Hike information: http://www.foxnews.com/story/0,2933,337588,00.html#
