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Sunday, July 25, 2010

Do it:

WaPo:
Democrats are betting that ending tax cuts for the rich will play in their favor

President Obama and Democratic leaders in Congress are setting the stage for a high-stakes battle over taxes in the final weeks before the November congressional elections, betting that their plan to eliminate tax breaks for the wealthy will resonate with voters who have lost houses and jobs to what many see as an era of Wall Street greed.

Raising taxes is usually a perilous move. But Democrats, facing the potential loss of their majorities on Capitol Hill, believe that the strategy will both force Republicans to defend tax breaks for a tiny, wealthy minority and expose GOP hypocrisy on budget deficits.

Raising taxes is usually a perilous move. But Democrats, facing the potential loss of their majorities on Capitol Hill, believe that the strategy will both force Republicans to defend tax breaks for a tiny, wealthy minority and expose GOP hypocrisy on budget deficits.
Let's have the 2010 elections be about something, and this is as good an issue as any. If the public vote for Republicans, then that's the way it is. And if extending the Bush cuts for the rich mean bigger deficits that will translate into severe cuts to government services, Medicare (and probably even Social Security) then that's what they voted for. And it's hard to really care about politics from that point on.



4 comments

"...if extending the Bush cuts for the rich mean bigger deficits that will translate into severe cuts to government services, Medicare (and probably even Social Security) then that's what they voted for. And it's hard to really care about politics from that point on."

Amen.

By Anonymous Screamin' Demon, at 7/25/2010 7:59 AM  

What if increasing taxes on the "rich" causes them to lay off employees and curtail investment in order to afford to pay their higher taxes? Unemployment goes up, tax revenues go down, the deficit increases. The economy slows.

By Anonymous Anonymous, at 7/25/2010 10:32 AM  

"What if increasing taxes on the "rich" causes them to lay off employees and curtail investment in order to afford to pay their higher taxes? Unemployment goes up, tax revenues go down, the deficit increases. The economy slows."

Yeah, like what happened when Clinton raised taxes on the rich. Oh, wait...the economy boomed instead.

If you're going to post here, please bring your "A" game. You don't want to sound like an idiot, do you?

By Anonymous Screamin' Demon, at 7/25/2010 12:32 PM  

Anonymous wrote, What if increasing taxes on the "rich" causes them to lay off employees and curtail investment in order to afford to pay their higher taxes?

Won't happen, because most of the rich's income is economic rent, hence can be taxed nearly 100% with no ill effect.

By Anonymous Anonymous, at 7/27/2010 9:23 AM  

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