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A Tax Question for Democrats
Posted by: Jon Henke on Friday, September 21, 2007

Greg Mankiw asks an interesting question of Democrats.
Okay, you want to raise taxes on the rich. I get that. But what do you want to do with the money?

At different times, it seems, you want to
  1. Fund universal health care.
  2. Give a tax cut to the middle class.
  3. Reduce the long-term fiscal gap.
Which is it?
NOTE: Mankiw adds that the "CBO tells us that each percentage-point increase in the top two income tax rates (singles making over about $150K, married taxpayers over about $180K) increases tax revenue by only about $6 billion a year. And even that $6 billion is an overestimate, because it takes into account only a limited range of behavioral responses to higher tax rates."

So, which is it?
 
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And even that $6 billion is an overestimate, because it takes into account only a limited range of behavioral responses to higher tax rates."
It also doesn’t take into account the shrinking economy that invariably follows any tax hike.

 
Written By: Bithead
URL: http://bitsblog.florack.us
My questions: Forty percent of the next dollar I earn goes to the federal government (25% marginal FIT rate + 7.65% SS and Medicare + 7.65% employer portion of SS and Medicare). Is that not enough? If not, do you believe that is there a combined marginal tax rate that is enough, and, if so, what is that rate?
 
Written By: DIffus
URL: http://
Don’t forget:

* "Fully Fund" No Child Left Behind
* Fixing Social Security / Medicare
* Port Security
* Veteran’s Benefits
* New Non-Diebold-Manufactured Voting Machines
* Job Training

Those Top 1% must have gotten a HELL of a tax cut if repealing it is going to fund all that...
 
Written By: SaveFarris
URL: http://
The central problem is that any random Democrat can just choose the item off of the list they like the most, or more likely the item today’s audience likes the most, and ignore the rest. If challenged, they’ll probably say something like "well, of course I favor option x, so you can’t ding me for being inconsistent". But then in the real world, they support any and all of the options. Because the base principle is that they’re happy as long government size and power goes up, as long as they get to run it.

To be fair, so are a lot of Republicans. I think that’s why they lost in 2006, and why they’ll lose again in 2008 unless they realize that they were not elected to be Democrat Lite.
 
Written By: Billy Hollis
URL: http://qando.net
And fixing global warming! Don’t forget man made global warming!
 
Written By: William Teach
URL: http://www.thepiratescove.us
"Which is it?"


Why, the correct answer is
4) All of the above.



 
Written By: timactual
URL: http://
After the past six years why would anyone be attacking the democrats on fiscal responsibility?
 
Written By: retief
URL: http://
If we just give the Dem’s ALL OF OUR MONEY, they’ll fix everything!

"When I’m president, privatization is off the table because it’s not the answer to anything." — Hillary Rodham, September 3, 2007 AARP Legislative Conference.

Even Hitler knew that he needed private industry to make his reich work.

Retief: "After the past six years why would anyone be attacking the democrats on fiscal responsibility? "

Because things can get UGLIER. Much UGLIER.

Because Cons/Repubs/Liberts hold their reps feet to the fire; Dems consider it just part of gaming the system.


 
Written By: Sharpshooter
URL: http://
Retief, if you haven’t noticed the denunciations of Republican fiscal responsibility by many conservatives and libertarians, including on this site, the only reasonable explanation is willful blindness. Fiscal conservatives have been bitching for many years now.
 
Written By: Jeremy Bowers
URL: http://www.jerf.org/iri
After the past six years why would anyone be attacking the democrats on fiscal responsibility?
Consistency.
 
Written By: Jon Henke
URL: http://QandO.net
"Consistency."

Ouch! You used the C word! You nasty man.
 
Written By: timactual
URL: http://

 
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