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April 9, 2014

Jonathan Tobin: Why Did Kerry Lie About Israeli Blame?

Samuel G. Freedman: A resolution 70 years later for a father's unsettling legacy of ashes from Dachau

Jessica Ivins: A resolution 70 years later for a father's unsettling legacy of ashes from Dachau

Kim Giles: Asking for help is not weakness

Kathy Kristof and Barbara Hoch Marcus: 7 Great Growth Israeli Stocks

Matthew Mientka: How Beans, Peas, And Chickpeas Cleanse Bad Cholesterol and Lowers Risk of Heart Disease

Sabrina Bachai: 5 At-Home Treatments For Headaches

The Kosher Gourmet by Daniel Neman Have yourself a matzo ball: The secrets bubby never told you and recipes she could have never imagined

April 8, 2014

Lori Nawyn: At Your Wit's End and Back: Finding Peace

Susan B. Garland and Rachel L. Sheedy: Strategies Married Couples Can Use to Boost Benefits

David Muhlbaum: Smart Tax Deductions Non-Itemizers Can Claim

Jill Weisenberger, M.S., R.D.N., C.D.E : Before You Lose Your Mental Edge

Dana Dovey: Coffee Drinkers Rejoice! Your Cup Of Joe Can Prevent Death From Liver Disease

Chris Weller: Electric 'Thinking Cap' Puts Your Brain Power Into High Gear

The Kosher Gourmet by Marlene Parrish A gift of hazelnuts keeps giving --- for a variety of nutty recipes: Entree, side, soup, dessert

April 4, 2014

Rabbi David Gutterman: The Word for Nothing Means Everything

Charles Krauthammer: Kerry's folly, Chapter 3

Amy Peterson: A life of love: How to build lasting relationships with your children

John Ericson: Older Women: Save Your Heart, Prevent Stroke Don't Drink Diet

John Ericson: Why 50 million Americans will still have spring allergies after taking meds

Cameron Huddleston: Best and Worst Buys of April 2014

Stacy Rapacon: Great Mutual Funds for Young Investors

Sarah Boesveld: Teacher keeps promise to mail thousands of former students letters written by their past selves

The Kosher Gourmet by Sharon Thompson Anyone can make a salad, you say. But can they make a great salad? (SECRETS, TESTED TECHNIQUES + 4 RECIPES, INCLUDING DRESSINGS)

April 2, 2014

Paul Greenberg: Death and joy in the spring

Dan Barry: Should South Carolina Jews be forced to maintain this chimney built by Germans serving the Nazis?

Mayra Bitsko: Save me! An alien took over my child's personality

Frank Clayton: Get happy: 20 scientifically proven happiness activities

Susan Scutti: It's Genetic! Obesity and the 'Carb Breakdown' Gene

Lecia Bushak: Why Hand Sanitizer May Actually Harm Your Health

Stacy Rapacon: Great Funds You Can Own for $500 or Less

Cameron Huddleston: 7 Ways to Save on Home Decor

The Kosher Gourmet by Steve Petusevsky Exploring ingredients as edible-stuffed containers (TWO RECIPES + TIPS & TECHINQUES)

Jewish World Review July 15, 2011 / 13 Tamuz, 5771

Debt deception: If only Dems were honest and GOPers were courageous

By Deroy Murdock




http://www.JewishWorldReview.com | Team Obama's debt-limit negotiating position is fueled by a central non sequitur, a core myth, and a spectacular oversight. Correcting these deficiencies would help Democrats and Republicans drain America's Olympic pool of red ink without drowning the economy in tax hikes.

First, the idea that the federal debt ceiling must be raised in order to lower federal indebtedness is the logical equivalent of a high-speed train derailment. Debt-soaked American consumers do not beg credit-card companies to hike their borrowing limits. Instead, they freeze their credit thresholds and pay their debts, ideally until their finances are back in black.

Obama's insistence on raising the debt limit is like saying, "You are right, MasterCard. I am tapped. So, I will forego theater tickets and skip my annual ski trip. Now, please raise my limit by $5,000."

Congress should not hike the debt limit, period. The staggering sum of $14.3 trillion should remain the Everest of U.S. financial irresponsibility from which Uncle Sam must descend. This will be arduous, but far healthier than climbing into ever-more-vertiginous debt and triggering an all-consuming avalanche of unpayable bills.

Furthermore, the notion that leaving the debt limit intact will trigger default is another monstrous lie designed to bamboozle the American public and cow Republicans into retreat. As with a credit card, default requires neglecting one's bills rather than respecting a debt cap. If Visa refuses to augment a customer's credit line, default only occurs if he stops making minimum payments.

America must do this.

For Fiscal Year 2011, Treasury expects $2.23 trillion in revenues, from which it must pay bond holders $213 billion in interest. As Senator Pat Toomey, R-Pa., explains, if Treasury can manage this, America will not default.

Meanwhile, Democrats advance the core myth that the wealthy do not pay their fair share of taxes. These marina-dwelling slackers, their argument goes, devour caviar while the American worker toils to keep Washington operating.

"Pay up," Senator Frank Lautenberg, D-NJ, demanded last week. "Don't let the fat cats sit there purring nicely while they watch events unfold."

And now, the truth:

According to an April 2009 Congressional Budget Office report, in 2006 (the most recent data available) the top one percent of taxpayers made at least $332,300 annually and paid 28.3 percent of all federal taxes. The top 10 percent (earning $98,100) paid 55.4 percent. Meanwhile, the bottom 60 percent earned up to $47,399. They paid 14 percent of all federal taxes.

Regarding effective federal tax rates, CBO reported April 4 that in 2007, all taxpayers averaged a 20.4-percent tax rate. However, the top one percent effectively paid 29.5 percent, and the top 10 percent paid 26.7. The bottom 20 percent of taxpayers paid an effective rate of just four percent.

So, the idea that the evil rich pay less than their "fair share" is yet another lie. If it is insufficient for the top 10 percent to pay 70 cents of each federal tax dollar, what would suffice? 80 cents? 95? 100?

Finally, a spectacular oversight plagues Democrats and Republicans alike. As Senator Tom Coburn, R-Okla., and Rep. David Schweikert, R-Ariz., observe, some $703 billion in forgotten funds languish across the federal budget. When Congress authorizes, say, $1 billion for a program, the unspent $250 million, for instance, just sits there. These coins between the cushions of the national sofa exceed TARP's original $700 billion budget! Schweikert's Forgotten Funds Act would apply this dusty money to debt reduction. Why on Earth is this massive sum not on the table?

Wouldn't it be nice if Democrats abandoned their galactic deception and hateful class-warfare? What a wonderful world it would be if Republicans were less timid about proposing deep budget cuts, agency closures, and revenues that did not impose tax hikes on this wheezing economy? Imagine what an attractive debt-reduction deal America might enjoy if Democrats were honest and Republicans were courageous.

Every weekday JewishWorldReview.com publishes what many in in the media and Washington consider "must-reading". Sign up for the daily JWR update. It's free. Just click here.

Comment by clicking here.

Deroy Murdock is a columnist with Scripps Howard News Service and a media fellow with the Hoover Institution on War, Revolution and Peace at Stanford University.



Previously:

07/08/11: Congress' war on light bulb blows up





© 2011, SCRIPPS HOWARD NEWS SERVICE

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