Pay-Go: The Stealth Tax Increase

Just as I was afraid of, the Dems are planning to pass a Pay-As-You-Go law, which alhtough disguised as a "fiscal responsibility measure," is really just a way to end Bush's tax cuts. (For those who think the tax cuts were just for the wealthy, just compare your pay stubs when the changes go into effect.)

Although the rhetoric from talking heads will be that this is a great measure designed to offset tax cuts with other revenue ("tax") increases or spending cuts, it does not require a cut to spending to any existing programs (the article gets that point wrong). Instead, it simply would not allow spending on new programs without corresponding tax increases. But come on - Dems have never had a problem with raising taxes anyway. Then, once that new program is in place, it will be nearly impossible to cut taxes again. The only way it would be possible to cut taxes is for the government to eliminate a program. And when has that ever happened?

Don't buy into the coming rhetoric - Pay-Go is a $2 trillion tax increase.