Last week (11/28/12), Neil Cavuto spoke from Los Angeles about California voters approving propositions raising the top tax rate as well as raising the sales tax. Cavuto used his Common Sense commentary to pivot from there and forecast that the national “fiscal cliff” talks will result in a deal that is “heavily weighted” in tax hikes. He went on to give the misimpression that Americans would prefer to cut spending.
Cavuto said forlornly, “No one’s talking about cutting taxes anymore, just raising them, and when all is said and done, likely on not just the rich… Taxes are in. Reducing spending is not in.”
He added, “And this idea that we’re gonna have a balanced approach to avoiding this year-end fiscal mess? Not even close.”
But, he hypothesized, the cause of this outcome was voter frustration with an inability to cut spending. Predicting that any deal will be “very heavily weighted toward tax hikes," he continued:
That’s not because voters necessarily want more taxes. Maybe more because they’ve said, ‘Aw, the hell with banging our heads against… the wall, hoping we’d see spending cuts.' So I guess reality bites. But what a lot of folks don’t know when they cave like that? Is the tax bill is gonna bite, too. Big time.”
Although Cavuto and his Fox News cronies don’t like to acknowledge it, polls show that Americans unequivocally support tax increases over spending cuts. Furthermore, President Obama is proposing 1 trillion dollars in discretionary spending cuts, from 8.7% of GDP last year to 5% in 2022. He wants $2.50 in spending cuts for every dollar in new revenue.
Cavuto is just wrong when he suggests otherwise.
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