Westmoreland Opposes President Obama's "Mulligan' Budget Proposal to Raise Taxes on American Families and Small Businesses

Statement

Tonight, President Obama addressed the nation on his plan to solve the growing debt problems facing the country. His plan claims it will result in $4 trillion in deficit reduction over the next 12 years, compared to the Republican plan to cut $6.2 trillion over the next 10 years. The most concrete aspect of his plan is a tax increase on American families and small businesses and the plan pays little attention to entitlement programs, like Medicare or Social Security, the largest drivers of our nation's debt. In fact, the president's "plan' centers on the creation of more panels to figure out a solution -- not so much a solution itself. Below is Congressman Westmoreland's statement.

"After submitting his budget proposal just two months ago that called for $46 trillion in spending over the next ten years with $8.7 trillion in new spending, that would add $13 trillion to the debt over the next ten years, and that would raise taxes $1.6 trillion on families and small businesses, President Obama today unveiled what I can only describe as his mulligan budget proposal after his first try was panned by Republicans and Democrats alike. Unfortunately he muffed his mulligan too.

"The president's speech has made it glaringly obvious that his solution to our debt problem is bigger government funded by higher taxes. Yes, after raising taxes more than $685 billion since taking office -- including tax increases on the middle class that break his campaign promise -- the president believes the answer to all our problems is even higher taxes. Well I have a very short response to the president's proposal. No way am I going to support raising taxes on American families and small businesses just so the president can keep the spigot on here in Washington DC.

"I ask you not to be fooled by the president's claim that this is only a tax increase on the "wealthy.' According to the National Federation of Independent Businesses, 75 percent of US small businesses file taxes on their owners' individual tax form -- meaning many of our small businesses will be caught up in this tax hike. Small businesses account for roughly 70 percent of all job creation in this country, but I can guarantee you if we raise their tax liability we will see that job creation potential dry up. Not to mention that these top income earners the president can't wait to raise taxes on already pay more than their fair share of taxes. In 2008, the top one percent of wage earners paid more than 38 percent of the total personal income tax collected and the top ten percent of wage earners paid an astounding 70 percent of the total personal income tax collected.

"As you can see, we don't have a revenue problem in this country. We have a spending problem. Maintaining the status quo on entitlement programs like Medicare and Medicaid is simply not sustainable. And no matter what kind of scare tactics the president wants to use, making real changes to the way we spend money in Washington will not "fundamentally change' this country or "end Medicare as we know it.' But the president's right in one area. It will lead to a "different America.' It will lead to an America that is free from trillions of dollars in debt held by countries like China and Saudi Arabia. It will lead to the end the fat cat mentality in Washington. It will lead to the end of wasteful bureaucrats spending American taxpayer money at will. And it will lead to this country being on a path towards a sustainable fiscal future. While I guess I'm glad to see the president has finally admitted we have a debt problem, I'm very disappointed to see he plans to continue down his dangerous path of tax and borrow," stated Westmoreland.

Source