The Obama administration and members of Congress should study the record on how the economy reacts to changes in the tax code. The president’s economic team has launched a three-pronged attack on capital: They are attacking the income group that is the most responsible for capital formation and jobs in the private sector, and then attacking the investment returns on capital formation in the form of dividends and capital gains. The out-year projections on revenues from these tax increases will prove to be phantom.
Republicans should not be complicit in a bad “compromise” plan in order to save Obama and the Democrat’s collective ass. Rather to let the Bush tax rates expire, re-enact them in January and let Obama take responsibility in vetoing lower marginal tax rates – if he dare do so.
Over 1,000 people gathered at noon and protested during Ventura County Tax Day Tea Party at the Ventura Government Center.
In Ventura, more than 1,000 people gathered under blue skies to vent wide-ranging concerns, from over-taxation and government spending to condemnation of a recent Homeland Security report tracking a rise in violence among right-wing groups.
Holding signs such as “Abolish the Federal Reserve,” and “We are Obummed Out, Stop Spending, No More Taxes,” the crowd was in a celebratory mood, loudly applauding each speaker and cheering as a small plane droned overhead pulling a banner that said “Iâ€™m Teaâ€™d Off!!”In an interesting note: I had not seen Catherine since 1994 or so when she used to interview me when I was an active participant in Ventura County GOP politics as an officeholder and candidate. I always found her to be a fair and balanced reporter.
There were two groups of Tea Party attendees – one at the government center listening to speakers and the second on Victoria Avenue carrying their signs and soliciting honks from the passing motorists.
California Republican Assembly Candidate Jeff Gorell talking with Camarillo, California GOP City Councilman Mike MorganJeff Gorell addressing the Tea Party Protest throngFlap’s Twitter friend @erickbrockwayTwitter friend @pir8gold sporting her #TCOT Top Conservatives on Twitter T- Shirt
Political Cartoon from Ed Gamble
Well, not so much.
- Mitt Romney, a top contender for the 2012 nomination who has been cautious in his criticism of President Obama, will not attend a tea party, said his spokesman.
- John Boehner, the House minority leader, will attend a tea party in Bakersfield, Calif., with Rep. Kevin McCarthy.
- Mitch McConnell, the Senate minority leader, is on official business overseas and won’t be participating.
- Eric Cantor, the House minority whip, is in his Virginia congressional district with no public events today, said a spokesman.
- Utah Gov. Jon Huntsman, who will likely consider a 2012 run, is out of town and not participating, according to a spokesperson.
- Alaska Gov. Sarah Palin, last year’s GOP VP nominee and a potential 2012 contender, won’t be attending any tea parties “that I’m aware of,” said a spokesperson.
The Tea Party movement is not about the GOP, in any case. But, the GOP better get the message.