The President Has Moved to the Left

President Obama unveiled a much different tax-reform vision in his much-anticipated debt speech on Wednesday. He would raise tax rates on upper-income earners and small businesses. He also would eliminate deductions and credits, or so called "tax expenditures." The president referred to these tax-expenditure reductions as "spending cuts." In his context, they most certainly are not. They are more tax hikes.

Basically, the president is giving successful earners and small-business filers a double tax hike. That's what it really is. Larry Kudlow - Real Clear Politics

No one make it more clear than Kudlow. A lot has been said on Obama's budget speech last week, but Kudlow's take is important. He is a national treasure. Be sure to follow him on CNBC.

Florida's Governor Rick Scott Tells Tea Party; "I Will Cut Billions"

Eustis - In an extraordinary move Florida Governor Rick Scott slashed state government spending and announced his budget cuts before an overflow tea party crowd in Eustis yesterday.  True to his word to his tea party constituents he chose this venue and not Tallahassee the state capitol to make his budget announcements.

Scott threw drown the gauntlet to other legislatures who felt it was unrealistic to cut taxes when the state faces a hugh budget gap. In statements such as 'the government has no money of it own" Scott talked about getting rid of state fiefdoms and cutting taxes by 660 million in two years. It's your money Scott says

To find out more about what Florida is doing about its budget go to www.letsgettowork.state.fl.us/

Welcome Home Mr. President: Plans For Our Future

There are a few good plans out there to deal with the deficit and reduce taxes.  A blueprint was unveiled Tuesday by Democrat Erskine Bowles and Republican Alan Simpson to address just that. It's bi-partician for at starter and sounds good.  It's a start. One thing thats needs to be pointed out is that any plan Congress considers must start at a baseline figure before the 2008 Obama stimulus package to be taken seriously by the American public. Another thing the Bowles Simpson plan does not include is Obama-care.  

Arthur Laffer today in the Wall Street Journal lays out another simpler plan for Congress to consider. Extend all the Bush tax cuts. An easy thing to do at this point. The full repeal of ObamaCare.  A tougher sell to the President and Congress, the cancellation of all spending that punishes those who produce and rewards those who don't,  the enactment of stalled free trade agreements with South Korea, Columbia and Panama, a true flat tax, price stability, passage of a balanced budget and incentive pay for politicians based on stock market performance and economic growth.

The last thing is for the President to change his approach to the job. Quoted as saying Thursday "I'm going to need Congress to work with me" on the tough decisions.  He might consider saying he needs to work with Congress. - DSMW