Comments about ‘Taxmaggedon means families will pay $3,500 more, causing a recession’

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Published: Monday, Oct. 8 2012 9:00 a.m. MDT

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Salsa Libre
Provo, UT

USAlover Salt Lake City, UT

"I'd trade Big Bird for a job and $2.00 gasoline anyday. In a second."

The federal budget has nothing to do with the price of gasoline. If you want $2.00 gasoline, you need to talk with Big Oil and make the government force them to set lower oil prices in the U.S.

The price of oil is governed by market forces and the growth in China, India, and elsewhere. Even if U.S. production continues to increase (as it has under the current administration) there is nothing to prohibit oil companies from selling their product abroad.

It's called Capitalism and neither Democrats nor Republicans will interfere. So be happy with the gasoline you get. Otherwise, buy an electric car.

Ali'ikai 'A'amakualenalena
Provo, UT

A1994 Centerville, UT

There continues to be a lot of misinformation about how much the Obama administration is responsible for increasing the federal debt. When Obama took office, the federal government was spending in excess of $1 T per year. Much of this, I understand, was from two unfunded wars, a massive tax cut, and an unfunded entitlement.

Perhaps you have the figures on the cost of these four items, but they were massive recurring expenses in the budget adding to the federal deficit and, ultimately, to the federal debt. Whether these costs occurred under Bush or Obama, they were set in the federal budget, and were passed on from one administration to the other.

Now, if you correct for these built-in budget costs, how do you calculate that part of the federal deficit due to Obama administration policies? Remember that these costs were established before Obama assumed office and, not being initiated by his administration, are recurring costs for which his administration is responsible.

If Romney becomes president, do we say he inherited these recurring costs (minus one war) from Obama or from Bush because his administration will be responsible for continuing to for them?

Saint George, UT

Just say No.

Thank you John Boehner and Eric Cantor.

You've exactly what you've worked(?) so hard to accomplish.

Special kudos to Mitch McConnell and Jim DeMint for their complicity.

The Republican Party sacrificed America, at any cost, to defeat President Obama.

The bills are coming due.

A massive tax bill awaits all Americans.

It will be worth it...

Right Republicans?

county mom
Monroe, UT

WE own a small business, we already pay 30% of our income in taxes. We are paying our share and we will be paying more, and more, and more. If no one stops the out of control government administrations that are taxing, regulating and charging us out of business.
The question is does America want to work?
Do you want to someday own your home, have a few nice things, maybe even a little savings, and sometime think of retiring?
Do you want to leave your children and your childrens children with so much debt that they will never see a way out?
Both parties sit around blaming the other! Both are at fault!! Bush took us to Iraq, Obama entered Afganistan remember, "Afganistan is the right war!" Blaming solves nothing.....
Lets stop the over reaching regulatatory boards, stop the out of control EPA, USDOT, Dept of Interior, etc. and get America to work.
Then when our economy has picked up, we can discuss what of these entities we need to keep.

Kaysville, UT

As always, this President's lack of leadership for 3 years, without a real budget is leaving us in the lurch. Having a Secretary of the Treasury that didn't pay taxes and doesn't know how to manage money for the non-elitists that we are is appalling.

As many Czars as the President has allowed into the White House and executive branch is a crime when they cannot manage their own $200,000,000 vacations.

People have allowed this President and Congress to run however they want to do. Making commercials that appear to be the government wanting people to vote early may have some agenda by the administration that should be looked into. Most people would think it is just a Public service announcement but it is a definite campaign message. The President wants people to vote before the Vice-President's debate and the President's next two debates. He is throwing out anything with his $1B campaign chest to get him elected and be able to do anything for 4 years without a beat of the drum.

The Fed chairman will be around for awhile even if Mitt gets elected and that will be interesting.

Allen, TX

Wow. Such shortsightedness.

CONGRESS is the big problem here, and you children bicker about Obama and Romney.

From my perspective, every member of Congress has been derelict in their duty for the last 4 years. Are you going to vote them out? Send a message by voting out all incumbents. And if the next Congress does not make progress, vote them all out.

Public Servants? Yeah, right.

salt lake city, utah

First of all this whole "were heading to bankruptcy" is nonsense. Secondly we're leaving our children a debt they will never pay off is hyperbolic tripe. Every modern generation has left the following generation a deficit..and deficit does not equal bankruptcy. Every large business or enterprise (including charitable enterprises) carry debt. Debt and deficits are the modern econonmy from governments to individuals. Without it ther would be no modernity, so to demonize debt as a principle is to say you want to go back to a time without credit.

Boise, ID

Everyone needs skin in the game. Everyone but those below the poverty line need to pay taxes (Maybe even below?). I don't care if it is writing a check for $20 dollars for the poorest. If you raise taxes, then all people need to see an increase. The $20 dollar check increases to $40 and my taxes go up $10,000. We all need to feel the pain of a tax increase.

county mom
Monroe, UT

Maybe we should vote out the entire lot; President, Congress, and Senate? Remove any branch of government that is not nessesary to the sirvival of our nation and start over?
The problem is I believe we need regulations, taxes, and limits to keep each of us from infringing on one anothers rights.
Incumbents know how to negotiate around with modern politicians and how to get what each state needs. Remember our Senators and Congressmen are there to represent UTAH. To make sure our voice is heard!!!
The curent problem is with a President that would rather golf and vacation then meet with the other leaders. He doesn't hold the purse strings but he is supposed to work with the other parties to find solutions to the issues facing our country.
He has allowed his appointees in the DOJ, EPA, USDOT, DOI, etc. to run-amuk. These administrational branches of our government are creating laws and taxes through over regulation. Our President doesn't even care or know what they are doing, and Congress is unable to work with each other let alone stop these departments.
The Supreme Court ruled against them but, that hasn't stopped them.

Anti Government
Alpine, UT

The reality is that you could literally confiscate the entire income of all the wealthy and it would not pay the deficit for a single year. Look up the study on youtube and you can see the math for yourself.

So if that is the case, why do the liberals spend 99% of the time talking about taxation as a solution of some kind? Clearly the issue is spending.

Liberals apparently would rather listen to their big spending representatives in DC and regurgitate talking points than do some simple basic math themselves.

Sure everyone wants this and that but does anyone stop to think whether we can afford it? What tough choices/sacrifices will have to be made?

People probably would be willing to pay more in taxes but when they can't go 10 minutes without reading yet another story of obama-phones and other govt waste I guess we should understand why they don't trust the govt with the money we currently give to them.

The only certainty we have is that the government will waste a significant portion of all that they extract from us.

Kaysville, UT

We have become like the seagulls that rely on food from the rubbish thrown over the ship's side. We have been living in the land of entitlements for too long. People have come to rely on government for their needs not from working to produce goods or provide services for our nation. We have lost sight of what is important. People complain about Mitt Romney earning money and providing jobs for tens of thousands of people. However, how many multi-year sports contracts are in the tens of millions to make such people very rich working only a part of the year. The movie industry and other entertainers makes very high salaries and may provide a service but not necessarily production.

President Obama spends so much of his time entertaining or being entertained to relieve his stress from organizing. He lives a protected life and has not shown us a budget of his own for his time in office. Paul Ryan comes up with an alternative and instead of saying thanks, the President criticizes Ryan since he is a fiscal conservative. President Obama wouldn't want to get enlightened by a person that knows money. He uses Geithner economics.

Fern RL

"But the resulting macroeconomic tightening could well push the country back into recession in 2013."

Like at least one other reader, I have a hard time seeing how the last recession supposedly ended in 2009. If we are not now in a recession, why is the unemployment rate still so high? Why are interest rates so low, so near zero?

The real GDP per capita (year 2005 dollars) dropped in 2009 to a level below what it was in 2004 and has not yet regained the value it had in 2005.

In my opinion, Romney is the one man who best understands economics--understanding it better than any former president, Democrat or Republican, even Ronald Reagan--and he can help revitalize the economy. It would also help if he had the support of a mostly Republican Congress.

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