October 24, 2006


Bleak House: Republicans deserve to lose, but what happens if Democrats win?

First, Minority Leader Nancy Pelosi has promised that election of a Democratic House would insure "a rollback of the [Bush] tax cuts." Rep. Charles Rangel of New York, who would be chairman of the Ways and Means Committee, would make sure no tax cut extension bill would ever get to the floor. He voted against the 2001 and 2003 Bush tax cuts and the bill that later extended the tax cuts until 2010 (as did all but seven of the 205 Democratic House members). In September Mr. Rangel said that he "cannot think of one" Bush tax cut he would agree to renew.

Investors Business Daily recently pointed out that since the Bush tax cuts took effect in 2003, "the economy has added $1.26 trillion in real output, $14.4 trillion in net wealth and 5.8 million new jobs." But that progress doesn't seem to matter to the liberals, whose primary goal is to raise income tax rates. "Taxing the rich" will be the leading economic argument of a 2007 Democratic House, and a rollback tax bill of some kind will reach the floor.

Second, President Bush will not be able to re-energize his effort for individually owned Social Security accounts, for "preventing the privatization of social security" is in the Democratic National Committee's "6-Point Plan for 2006." Democrats don't trust people to own or invest their own retirement funds--better to let a wise government do that, for as socialist Noam Chomsky says, "putting people in charge of their own assets breaks down the solidarity that comes from doing something together." And since Congress gets to spend Social Security tax receipts that aren't needed to pay benefits, letting people invest their payments in their own retirement accounts would be a costly revenue reduction that the new, bigger-spending Congress won't allow to happen.

Via Instapundit. Yikes. Read the remaining points. Double yikes.

Posted by: Sarah at 11:31 AM | Comments (2) | Add Comment
Post contains 327 words, total size 2 kb.

1 But reflect on this: the very people saying these things are confident that they're going to sweep into power and sweep the Republicans out. Why? How can they be so sure that there are enough lunatics out there to accomplish that miracle? Mark Foley? (By the way, your anti-whatever filter keeps rejecting my E-mail address and URL because it ends with dot-info. What on Earth is wrong with dot-info domains?)

Posted by: Francis W. Porretto at October 24, 2006 12:41 PM (PzL/5)

2 Unfortunately, I share a whatever-filter with about a hundred other mu.nu bloggers, so whatever one filters, we all filter. Sorry. But no worries, I know who you are!

Posted by: Sarah at October 24, 2006 04:58 PM (7Wklx)

Hide Comments | Add Comment

Comments are disabled. Post is locked.
43kb generated in CPU 0.04, elapsed 0.2058 seconds.
55 queries taking 0.1784 seconds, 188 records returned.
Powered by Minx 1.1.6c-pink.