Posted on 11/25/2006 11:04:56 PM PST by Zakeet
During the recent off-year elections, the president repeatedly pointed to the booming economy and noted that his tax cuts were responsible. With growth strong and unemployment low despite the ending of the stock-market bubble, terrorist attacks and the war in Iraq, he had every reason to be proud. Moreover, both economic theory and the actual timing of the economic revival support his claims regarding the tax cuts.
That is why it is so odd that rumors swarm around Washington that the president may be willing to raise taxes as part of a "deal" on entitlement reform. In particular, the rumors suggest the president might be willing to get rid of the provision that caps the income level used to compute Social Security taxes and benefits. These rumors aren't without substance; last year the president would not rule out raising the cap when asked.
Doing so would raise the marginal tax rate on the entrepreneurs that Mr. Bush credits for having led the economic recovery by more than 10 percentage points. The new effective rate would be five percentage points above the level when he took office. Moreover, in 2011, the rate would go up a further 4.3 percentage points to an effective 53% marginal rate on entrepreneurial income. The president would thus be not just raising taxes on entrepreneurs to well above the levels that prevailed in the Clinton administration, but to a rate higher than that which prevailed in the Carter administration. Most of the improved incentives for entrepreneurship and work brought about under Reagan would be repealed.
Should the president do this, he doubtless would be thinking that saving Social Security would be worth the price. He would be wrong.
(Excerpt) Read more at opinionjournal.com ...
I am so sick and tired of all of this damned doom&gloom garbage, posted by supposed Conservatives, that I'd like to .........( imagine what I'd like to do. LOL )
I'm off too...good night and pleasant dreams.
Clinton turned the place where it can be mined, in America, into something like a National Park and so it can't ever be mined and sold now. He did it with an obscure kind of Order ( not even an EO, another thing completely, that can't be undone! ) and the ONLY other place that has an abundance of the stuff just happens to be where his good buddy and illegal donor of money happens to be and is, surprise, surprise part member of the consortium that is now mining and selling this special coal.
Nice......... /s
So says the pathetic liberal. Blackbird.
They are here.
Actually, there are a lot of us, in this club; the "others" just make the most noise.
Thanks, I remember now. Great reminder though.
Don't forget that George H W Bush agreed to raise taxes because it was the fall leading up to the first Gulf War and he needed the support of the dems. They said they wouldn't use it against him and we all know what happened in the next election!! Some people just never learn NOT to trust anything the dems say!
Who would defend him at an Impeachment trial?
Is he trying to alienate EVERYBODY?
It's pathetic.
The WSJ has traditionally been the leak recipient of of choice for an administration. This is a test balloon.
I just don't see it.
Just as those who denied the Dem's would take the Congress in 2006 have disappeared here and denied it would happen, I will say again that it's a done deal that the Hildabeast will be the 2008 winner.
The preparation and indoctrination for it has been going on steadily since the dirtbag Philaderer-in-Chief left the White House with the silverware in 2000.
Like it or not (tin-foil accusations can start now), this is a depressing pattern that cannot be denied, and GWB will assist by pissing off what is left of the Conservatives in this country, who couldn't stop the Dem's in 2006, and won't stop the Hildabeast in 2008.
That said; perhaps Bush feels since the election ie the 'rejection' of Bush/polices et al. . .that a tax increase is just what the voters wanted; and is prepared to give to them.
Just as those who denied the Dem's would take the Congress in 2006 have disappeared here and denied it would happen, I will say again that it's a done deal that the Hildabeast will be the 2008 winner.
The preparation and indoctrination for it has been going on steadily since the dirtbag Philaderer-in-Chief left the White House with the silverware in 2000.
Like it or not (tin-foil accusations can start now), this is a depressing pattern that cannot be denied, and GWB will assist by pissing off what is left of the Conservatives in this country, who couldn't stop the Dem's in 2006, and won't stop the Hildabeast in 2008.
. . .That strong cow-boy has been fighting the fight; everyday since 9/11 to which which this country should be grateful. Why toss him on a rumor?
OTOH. . .even a good cowboy can get beaten down to something unrecognizeable. . .when day after day, multiple body blows are routinely delivered; and post-election shows that he has been stomped as well, by his own people.
What is left, perhaps, is but to please the factional majority. . .give them what they want, or what it appears they want; and that may include a tax hike; because the Dems just came roaring in as the winners.
The good cowboy, at this point, may feel the need to be more accomodating.
Seems to me that Mr. Bush learned from his papa not to raise taxes after stating he won't
If what he is doing now with his can't we go along to get along routine to leave a better legacy he'd better listen to his dads speach. "NO new taxes".
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