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IMF INSISTS BUSH RAISE TAXES

 

 

 

By Jon Christian Ryter

August 4, 2004

NewsWithViews.com

The International Monetary Fund announced on Friday that the plans detailed by the Bush Administration to cut the deficit in half in four years are too modest, insisting that the Bush Administration raise taxes. That, of course, would be a kiss of death for Bush's chances for reelection President George W. Bush is, at this moment, trying to force Congress into making his temporary tax cuts on the American people permanent.

In its annual report on the state of the world economy issued late in the day on Friday, the IMF said that even if the Bush Administration met its objective of cutting the American deficit in half, the national debt would still be too high to face the added debt burden it will experience when the World War II baby-boomers begin to retire later in this decade. The report suggested that the Bush Administration should take preemptive measures today to assure that Social Security and Medicare won't collapse in another decade or two. In reality, what the IMF is really concerned about is the fact that the United States almost single-handedly finances the bailouts of debt-strapped nations, and the American taxpayers keep the IMF liquid. Should the United States have to tighten its own fiscal belt, the IMF senses they will be the first to feel the bite.

The IMF report said the American government should consider increasing the tax load on both average taxpayers and businesses—something John Kerrry already plans to do if he is elected. Kerry has announced that he intends to rollback the Bush tax cut on Americans earning over $200 thousand per year. In reality, the Kerry rollback will be universal—it will simply repeal the entire tax cut package. To stimulate the economy, Kerry will replace the Bush tax cut with Kerry tax credits for the legal and illegal indigent poor (the new welfare class). That will stimulate K-Mart's economy, and perhaps that of Big Lots, and even the neighborhood Buy Here-Pay here car lot, but it won't stimulate the types of big ticket sales necessary to actually move the economy forward. Of course, the Kerry mission is not to help the middle class, but to subvert through an oppressive tax load that it cannot bear.

In response to the IMF report, independent budget experts in the United States said that by focusing on spending cuts and economic growth, neither Democrats nor Republicans see any long-term financial problems on the horizons. Of course, that means the United States cannot afford any new entitlement programs. A Hillary Clinton-style national healthcare system such as the one promised by Kerry would bankrupt the United States within a decade. Kerry insists that simply by taking away the tax cuts on Americans earning $200 thousand or more, he can fund a national healthcare system. Kerry, of course, is daydreaming in the world of smoke and mirrors where only liberals live.

The IMF report suggested that in addition to raising taxes on small businesses and households, Bush should also consider imposing a universal federal sales tax and higher taxes on energy use—which, of course, would include a new federal tax on gasoline consumption and home heating oil. Kerry would counter that by offering a tax credit for the elderly and the poor—paid for, by the way, by that greedy middle class that currently foots 85% of the tax bill. John Kerry knows that if he is going to get elected in November, the people who are going to elect him will be the homosexual and lesbian communities, the welfare voters, the illegal Hispanics who were placed on the voting roster by Bill Clinton between 1996 and 2000, the pro-Communist antiwar activists who clearly understand that John F. Kerry's "loyalty" is a patriotism to antiwar causes, and finally, the environmentalist whose advocacy closed down most of the independent oil wells and refineries in the continental United States. It is these folks we have to thank for $2.00 per gallon gasoline. Think about John Kerry's political allies the next time you fill up at the gas pump.

© 2004 Jon C. Ryter - All Rights Reserved

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Jon Christian Ryter is the pseudonym of a former newspaper reporter with the Parkersburg, WV Sentinel. He authored a syndicated newspaper column, Answers From The Bible, from the mid-1970s until 1985. Answers From The Bible was read weekly in many suburban markets in the United States.

Today, Jon is an advertising executive with the Washington Times. His website, www.jonchristianryter.com has helped him establish a network of mid-to senior-level Washington insiders who now provide him with a steady stream of material for use both in his books and in the investigative reports that are found on his website. E-Mail: BAFFauthor@aol.com


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The report suggested that the Bush Administration should take preemptive measures today to assure that Social Security and Medicare won't collapse