Monday, August 13, 2012
"Defense Industry Wants Higher Taxes To Avoid Cuts": Sanity Has Finally Struck in The GOP
There has been talk in recent weeks in Congress especially amongst Senate Republicans, thats what about to come down in January. If the President and Congress don't reach a deal on the debt and deficit and we get across the board Budget Cuts and Tax Hikes, that we have to avoid that. Especially as it relates to the Defense Budget, that we have to avoid those cuts, even if that means closing Tax Loopholes or raising taxes on the wealthy. To avoid these Defense Cuts, even Fiscal Conservatives like Republican Senators Mike Crapo, Senator Lindsay Graham, RSenator Tom Coburn. Senator Lamar Alexander, even Senate Minority Leader Mitch McConnell have suggested that closing Tax Loopholes is a better alternative, then the Defense Cuts. I use the term Fiscal Conservative loosely, because if you truly believe that Government Waste and Big Government are the problem, then Government Waste across the board is a problem. Then that would include the largest part of the Federal Budget, which is the Defense Budget, especially if you include the Wars in Afghanistan and Iraq as part of that package. And thats definitely Defense Spending, then that the Defense Budget definitely has to be part of this package, especially if you include all of the Developed Nations that Americans Tax Payers pay to defend.
I don't like across the board Budget Cuts anywhere in the Federal Budget, especially in the Defense Budget. The idea of Budget Cuts is about saving money and eliminating waste, cutting things just to cut them, even if they are effective and efficient, doesn't make sense. Whether its the Defense Budget or any other part of the Federal Budget, thats the main problem with the debt ceiling agreement last year. And closing wasteful Tax Loopholes to avoid across the board Defense Cuts, is a trade I would make 100% of the time, that doesn't mean that we can't afford to make cuts in the Defense Budget. The way to make savings in the Defense Budget, is to cut back in areas that we don't need to spend money on. Like in Afghanistan, Iraq, Saudi Arabia, Japan, Korea and Europe, all of those countries except for Afghanistan and Iraq are Developed Nations that can afford to defend themselves.
All of this tells me that Senate Republicans including the Minority Leader are ready to avoid making some serious Defense Cuts. That the President or Congress doesn't want to make and that we may see a deal in the Senate reached amongst Democrats and Republicans to avoid this. That will include new revenue as it relates to the wealthy to avoid these cuts and if that happens, that will put. More pressure on House Republicans to wake up and act reasonable.