During the 1984 Presidential Campaign, Democrat Walter Mondale promised to raise taxes. What followed was the biggest presidential landslide in almost 50 years. Bernie Sanders has decided that he wants to give the Mondale strategy another try.
“Yes, we will raise, we will raise the, we will raise taxes, yes we will.”
When Walter Mondale declared that he was going to raise taxes, he said this in response to Reagan's historic deficits. The implication was that he would get our fiscal house in order. He wouldn't necessarily cut spending but he would raise taxes to equal it. Interestingly, Bernie has come along in the wake of Obama's historic deficits and calls for tax increases. Unlike Mondale, there is no hint that this is to be fiscally responsible. Bernie has outlined $6.5 trillion in new taxes over the next ten years. However, he has proposed $18 trillion in new spending! And I thought Obama's deficit was bad. Though government long ago stopped basing spending on income, which ordinary people are required to do, Bernie wants to take it to a whole new level. If the budget was balanced and Bernie implemented this plan, the country would add $11.5 trillion in debt. Bernie has promised fiscal irresponsibility on an unimaginable scale. We are already spending money we don't have; why not spend all the money we don't have?
We are already in serious financial trouble. The drop of our credit rating should have served as a warning. George W Bush made matters worse with his new drug entitlement and Obama raised him a healthcare overhaul. Bernie is going to put virtually everything from healthcare to education on the government credit card. It takes this sort of sustained recklessness to make Donald Trump a palatable option to so many Americans.
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