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EDITORIAL: Democrats and tax policy

Many Democrats bristle at being described as fans of big government and high taxes. But have they looked at the tax policies favored by either Hillary Clinton or Barack Obama?

While each takes a slightly different approach to the issue, a consistent theme nevertheless dominates the proposals offered by both candidates: higher taxes and a more complicated IRS code designed to push "progressive" social engineering schemes.

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  • While seeking to preserve some of the Bush tax cuts through 2013, both Sen. Clinton and Sen. Obama approve of resuscitating the death tax and letting most of the current tax rates rise 3 percentage points by the end of 2010, pushing the top rate to 39.6 percent -- resulting in one of the largest tax hikes in U.S. history.

    Meanwhile, Sen. Obama offers various redistributionist proposals that would increase the number of people who pay no income taxes at all yet still receive "rebate" checks from the government. He also wants to almost double the capital gains tax.

    At the same time, Sen. Clinton wants to jack rates on investment income and backs a bevy of "targeted" tax breaks she hopes will lead people to behave in ways that meet with her approval. Sen. Clinton "is proposing tax credits for everything short of flossing your teeth," Lee Sheppard, a tax lawyer, told Bloomberg News last week.

    At a time when we desperately need a debate on how best to simplify the 66,000-page monstrosity that is the current tax code, each candidate eagerly embraces the opposite.

    "The inevitable consequence," noted University of Michigan economist Joel Slemrod, "is to complicate the process." And to loot more and more money from the pockets of productive Americans in order to feed a morbidly obese federal bureaucracy.

    So why would Democrats object to being characterized as tax-loving enablers of big government when neither of their potential standard-bearers apparently shares such an aversion?



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    Ken wrote on March 17, 2008 08:19 PM: David,

    One day you will pull your enormous head out of the democratic (you know what) you have it shoved up, and realize it doesnt smell any better than the crap you criticize.


    David Johann wrote on March 17, 2008 07:41 PM: Notice how the neo-cons (Bush adherents) and all the other cons like to talk about the Carter economy? (Subject for another post).

    They want to go back to the 70's, pre-Reagan.

    For more on Reagan, the idiot, and the Real Reagan Record, click here:

    http://www.geocities.com/thereaganyears/index.htm

    But anyway, we were talking about Democratic presidents. Notice how the cons love to talk about the economy under Carter (more than 25 years ago), but don't mention the Clinton economy?

    Really, can we back up to Florida, and bring back Gore to fill in for Bush in these final months?

    H'mm.


    David Johann wrote on March 17, 2008 07:30 PM: Tom (who doesn't use his CAPS key) wrote:

    yeah thats right, republicans especially bush make secret deals so that everything they do is to help their rich friends.

    Tom. Maybe not "everything." Still, if you don't actually believe the essence of what you just denied, then there you need to pull your head out.

    Did you actually Google the book I referenced below by David Cay Johnston?

    "David Cay Johnston is an investigative journalist for The New York Times now focusing on the subject of taxation. He most recently published Free Lunch: How the Wealthiest Americans Enrich Themselves at Government Expense and Stick You With The Bill, about hidden subsidies, rigged markets, and corporate socialism. It follows Perfectly Legal: The Covert Campaign to Rig Our Tax System to Benefit the Super Rich--and Cheat Everybody Else, a New York Times bestseller.[1] Johnston received the 2001 Pulitzer Prize for Beat Reporting 'for his penetrating and enterprising reporting that exposed loopholes and inequities in the U.S. tax code, which was instrumental in bringing about reforms.' He also won the Book of the Year award from Investigative Reporters & Editors."

    http://en.wikipedia.org/wiki/David_Cay_Johnston


    loan me a dime wrote on March 17, 2008 06:40 PM: Carter economy? Oh the one that he received from crook Nixon, that was a dirty deed from NIxon.

    Todays economy is said to be the worse since the end of WW2. The FED is using depression era tatics to shore up banks. So yes I would say the economy is lousy.


    Steve wrote on March 17, 2008 03:56 PM: Who were the "rich" and "wealthy" in the old Soviet Union? Oh, yes... it was the proletariat or members of the "party". While they dined on Caviar, the "people" stood in line for toilet paper. It is great to be a socialist/communist/progressive as long as you are in the "party" of rule. Sounds like an excellent pyramid scheme to me. Works great for the ones at the top, but those of us who work hard basically get nothing...

    Do as I say, not as I do.


    Time to clean house wrote on March 17, 2008 10:04 AM: Time to clean house in both parties


    Sam wrote on March 17, 2008 10:02 AM: I think BOTH parties need to be cleaned out from the top. We need to get back to a by the people for the people government.

    Our representative should be just that "representatives". NOT career politicians.


    Money Trees wrote on March 17, 2008 09:57 AM: So there must not be a "Rich Democrat", right? They (Clintons, Obamas, Edwards etc.) should surrender most of their Assets, including their sprawling estates and third homes, and give the proceeds to those they claim are in need. Oh, and Chelsey is working for a wall street Hedge Fund ($$). Go figure! Basically, ANYONE who is a Democrat should surrender most of their pay to provide for what they believe in. Otherwise, you are worse than a hypocrit; you are a Fraud.


    Jon H. wrote on March 17, 2008 09:00 AM: Here is my comparison of politics in the US:

    Democrats – Socialism & Big Government (at least they are honest)
    Republicans – Fascism & Big Government (they lie about small government)
    Libertarians – Capitalism & Small Government (disorganized and impotent)

    I think that sums it up.


    douglas wrote on March 17, 2008 08:36 AM: proof of that pudding was when the clintons sold tens of millions in appreciated stocks to have the gains treated under today's "evil" [read, fair], capital gains rates. with the promised "progressive" jump in capital gains rates that'd punish those citizens who begin to draw down on retirement accounts.

    bottom line is if you think your taxes are too low, vote "progressive". if you think that those citizens who choose not to work should get free benefits at your expense, vote "progressive". if you think that the tens of millions of infiltrators already in the u.s. should instantly receive benefits paid by you without contributing to any fund, vote "progressive". if you think that the u.s. should have an open door immigration policy to soak up school room seats, gubmit [read taxpayer] paid health services, vote "progressive". if you want more politically correct lingo, more affirmative action hiring [instead of the best qualified], vote "progressive". if you want even higher energy costs, with added federal taxes "to discourage consumer use", vote "progressive".


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