Bilbo Baggins: “Where is my Precious Tax Cut”
Although, to me, they rather look like the open mouths of helpless baby chicks who have made an oath of fealty to kowtowing politicians who promise benevolent tax cuts that will line our pockets with “hundreds of dollars” so that everyman can watch his favorite television show on a new 3D Flat Screen, or squeeze out another night on that long, overdue Discover America Family Vacation, or accessorize their 4by4. Which just proves, that if you’re going to go over a fiscal cliff, you might as well enjoy the ride.
“As a very important source of strength and security, cherish public credit. One method of preserving it is to use it as sparingly as possible, avoiding occasions of expense by cultivating peace. Avoiding likewise the accumulation of debt, not only by shunning occasions of expense, but by vigorous exertions in time of peace to discharge the debts which unavoidable wars may have occasioned.
The execution of these maxims belongs to your representatives, but it is necessary that public opinion should cooperate. To facilitate to them the performance of their duty, it is essential that you should practically bear in mind that towards the payment of debts there must be revenue; that to have revenue there must be taxes; that no taxes can be devised which are not more or less inconvenient and unpleasant; that the intrinsic embarrassment inseparable from the selection of the proper objects (which is always a choice of difficulties) ought to be a decisive motive for a candid construction of the conduct of the government in making it, and for a spirit of acquiescence in the measures for obtaining revenue which the public exigencies may at any time dictate.”
George Washingon’s Farewell Address, 1796