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 Most of the improved incentives for entrepreneurship and work brought about under Reagan would be repealed.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 ...
Taxes are the very LAST POSITIVE left for the Republican Party!
If he were to remove (or raise) the cap on SS wages, how is that any different than Jon (I never apologize to anyone) Caray's and the democrats plan to PUNISH high income people with higher tax rates??
Class envy and class warfare just may be alive and well even in the Republican Party.
If the Republican Party wants even more of their base to sit home in '08--this would be a wonderful way to accomplish that.
Carolyn
Facts are stubborn things.
It is precisely because the GOP et. al. denies the existence of the problem that the GOP finds itself circling the political drain.
LISTEN!
Smaller government. Less taxes. Military strength. Strong borders. Common sense judiciary based on the Constitution. Little or no corruption. And a coherent, intelligible communication team willing to streetfight to get the message out.
The GOP have failed MISERABLY at what should have been a damned straightforward task, considering we VOLUNTARILY fought for, and won, a majority in the House, the Senate, and the White House.
The opportunity has been squandered, and the sooner you begin dealing with it, and stop denying it, the better.
Absolutely! Read my tag line.
Carolyn
Country club elite would just have to include the sweet but clueless Rice.
These folks have no concept of the streetwise enemy we face, and no appreciation of the level of dissatisfaction in the grassroots ranks.
You will not see another Republican administration for 20 years.
Always has been, always will!!!!!!!!!!
If life were only perfect. . .bottom line that principle for principle. . .you will find 'not all' but more. . .in the Repub Party than in any Democratic enclave. . .these two Parties, do not stand equal in their 'imperfection' or equal in the measure of disaster they might incur by their Party leadership.
Meantime, back at the ranch; the 'challenging' Republican leadership thus far noted as disappointing; may well be a 'sign of the times' as this leadership grows first, out of the 'base' ground that it represents. ( RINOS just don't happen. . .and as for the spending; yep. . .too much; but America was a very sick patient. . .)
Want better? 'Be better'. . .demand better. . .vote for the best. . .but, whatever; vote Republican. IMHO. . .
Depends on where the article was in the paper. The WSJ is one of the most liberal newspapers when you talk about the news sections, the editorial section is the conservative part of the paper.
How can someone look at the economy, see how it's ever robust, and then think
taxes need to be raised?
A no-vote, is a 'vote' in reality.
Those Repubs who stayed home; already voted and won; and should not be disappointed in what they get as a result.
If the President increases taxes--EVEN MORE will stay home,,,,,and some of those that don't--will not provide the enthusiasm and turnout that would otherwise occur.
I have a feeling that many of the posters who are complaining about Bush now were the same who stayed at home and let the Dims took over the Congress.
In New Hampshire, where everyone knows there is "no income tax", all Schedule C income is taxed as "business profits" and there is also a surcharge of 0.75% called the "business enterprise tax".
President Bush does not like Democrats tobe mad at him, and he never has.
Thankfully, Geoge W Bush is NO Ronald Reagan.
The impending victory is invisible to may of your fellow FReepers.
And calling longstanding, outstanding conservative FReepers "DU trolls" and worse does nothing to improve the "we are winning" crowd's image for discernment.
Terrorists, both foreign and domestic <--- aka Democrats
Yes! When you give the people a choice between rats and reps acting like rat, they vote for the rats.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.