Will House Republicans Let America Down?

One of the very few bright spots on Election Day was the fact that Republicans kept the House. The Constitution requires all bills that raise revenue to originate in the House. That means as long as Republicans remain faithful to their principals, even with liberals controlling the Senate, we can stymie any efforts to raise taxes.

But Speaker John Boehner’s comments yesterday are disconcerting to say the least:

“We have got to cut spending and I believe it is appropriate to put revenues on the table. Now, the revenues that we are putting on the table are going to come from guess who? The rich. There are ways to limit deductions, close loopholes and have the same people pay more of their money to the federal government without raising tax rates, which we believe will harm our economy.”

Boehner went on to say we have a debt problem. Indeed we do. But as with all debt, it’s not from a lack of revenue, it’s from too much spending. We are a nation that no longer lives within its means.

We’ve been down this path before. Every time we face a fiscal crisis, Republicans are too eager to exchange tax raises for spending cuts that never take place, or are watered down and easily trumped by future spending. We’re perpetually trying to balance budgets by increasing taxes to pay for spending. Instead, we need to replicate government budgeting with the way it’s done in the private sector: base your spending on your revenue, not raise money to pay for your spending.

What’s worse is the fact that many of these revenue raisers are scored over a 10-year period, but the debt they are being applied to is just for one fiscal year. So we’re essentially raising taxes for the next decade to pay for one year’s worth of spending. And with the next fiscal year budget nowhere near being completed, who’s to say we don’t have another deficit requiring future tax raises over another decade to pay for that overspending?

Today, we define the rich as those with income greater than $250,000. It’s an arbitrary number to say the least. We’re lumping in many people who have worked hard for years or decades to build up a small business with income at that level who end up passing it through their personal tax returns.

Today, the rich are those who make $250,000. Tomorrow, the rich are those who make $100,000. Soon, it will be people who make less than that. We’re told that this new “deal” will provide $2.50 in spending cuts for $1 in revenue raises. I’ll believe it when I see it.

The truth is, these revenue raises will only pay down a portion of just this year’s fiscal year deficit. According to the White House’s own numbers, the Fiscal Year 2013 deficit is projected to be $901 billion. By Fiscal Year 2022, the deficit is projected to be $704 billion. In other words, a decade worth of hundreds of billions in tax raises nets us only $197 billion in deficit reduction. This isn’t a deal that raises taxes for one year to pay off the deficit in full, with the tax raises sun setting in 12 months. This is a bad deal that raises hundreds of billions in taxes over 10 years only to net a reduction in the deficit by $197 billon. The reason is because these tax raises will cover more spending – this goes to prove that we keep going around in circles without making progress in reducing the deficit.

The only way forward is for House Republicans to recognize what needs to be done, and that is sticking to bread and butter conservative principles. That means not backing down on tax raises and insisting on entitlement reforms. It’s just that simple.

Dino Teppara serves as the parliamentarian of the Lexington County Republican Party and is the former chief of staff and counsel to U.S. Rep. Joe Wilson (R-SC). The views expressed are his own.