Hurricane Sandy ate our $60 billion
deficit reduction tax hike.
Congress approved a $60 billion aid
package to help victims of Hurricane Sandy in New York and New Jersey, and to
pay for storm cleanup.
Lots of damage from the storm, lots
of people homeless and still hurting….
And by the way, the new higher
income tax rates approved a couple weeks ago for the very wealthy will bring in
about $60 billion in the first year.
Ergo, the tax deal ain't going to
do anything for deficit reduction this year.
It would make more sense, in terms
of state and national finance and fiscal responsibility, to impose a special
tax to pay for massive hurricane cleanup.
And just for clarity, I support
state and federal assistance in cleaning up after horribly destructive storms.
I do not support allowing homeowners and businesses to re-build in the path of
the next storm, unless they purchase storm insurance that will completely bail
them out next time.
Translation: I don't want to help
pay for re-building your lovely beachfront vacation home, or your rental
property "with ocean view."
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