Congressman John Campbell's Blog - Green Eyeshade Blog

Monday, February 04, 2008

FY 2009 Budget

Posted by: John Campbell at 2:59 PM

The President released his budget for Fiscal Year 2009 today. If it seems like we’ve just finished the whole budget charade, it’s because we did. Anyhow, I have not had a chance to read the whole thing yet, but here is link if you would like to read up.

Please check back, updates will be forthcoming.

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Jeff writes:	Tuesday, February, 05, 2008 2:54 PM
Taxes and Economy
Dear Honorable Congressman Campbell, With all due respect, in regard to tax issues pertaining to IRA / 401k contributions, I think that almost all Republicans are still out to lunch on this issue. We should not be trying to make the Bush tax cuts permanent, increase the amount one can save before taxes, etc etc, this is all just simply a picking around the margins. Instead, why don't all Republicans get on the Huckabee and Paul bandwagon of eliminating the IRS and along with it the income tax and instead move to a "fair tax", such as a national sales tax. That way people like Bill Gates and the other high net worth celebs who don't think they are being taxed enough will automatically be taxed fairly on everything they purchase. This sort of "tax" system is 1) Already in place at the retail level, 2) Simple, and; 3) It provides incentive for savings rather than consumption, which in turn helps to strengthen our dollar and simultaneously lowering the cost of capital (presuming we can also get the govt out of spending so much money and as a result competing for dollars with the private sector). Again, with all due respect for your hard work and efforts, we need a sea change, not a picking at the margins. Until this happens, our country will remain in great financial peril and as a result freedoms will continue to be eroded as the govt tries go gobble up more money to put everyone on the dole and hence pacify the masses, as it were. Harken back to your history lessons on the Roman empire. It collapsed in part because of the dole Rome put the masses on in an effort to appease them. We need change, as everyone is shouting for, but we need real and substantial change, not just a picking at the margins. It is time to throw the man's tea into the sea, and I hope you and your Republican colleagues will come to this reality sooner than later.
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About John Campbell

John Campbell is a member of the House Financial Services Committee, and has taken a leadership role in addressing the country's top economic issues. Campbell serves as a member of the Joint Economic Committee, and House Committee on the Budget. He has a Bachelor's Degree in Economics from UCLA and a Master's Degree in Taxation from USC.