When it comes to the Democrats and taxes, it's important to look at what they do, not what they say. Very few congressional Democrats possess the candor to admit that they are in favor of letting the Bush tax cuts expire, yet for the second year in a row the Democrats have put forward a budget resolution that assumes rates will snap back to their previous levels. This would constitute a $683 billion tax hike over five years.
The Democrats' budget is just as noticeable for what it leaves out. There is no attempt to address the looming entitlement crisis, as Medicare and Social Security obligations balloon in response to the retirement of the first baby boomers. There is no solution to the problem of earmarks, which allow members of Congress to direct funds to pet projects with little transparency or accountability. And there is no long-term fix to protect the middle class from the Alternative Minimum Tax, a tax designed to keep the rich from claiming too many deductions but which now sneaks up on a growing number of families with average incomes because it was never indexed for inflation.
Both House and Senate Democrats put forward budget resolutions that call for a one-year AMT "patch" that would shield middle-class households and save taxpayers approximately $62 billion. But neither budget would offset the forgone revenue by cutting spending. The House budget calls for $70 billion in new taxes on investors, whereas the Senate budget would simply add $62 billion to the deficit.
They played the same games last year, but Bush held true to his veto threat (though they did get some extra spending on emergency defense bills). Despite what they say, their actions speak louder than their words, and the actions indicate huge tax hikes on the way. Why should this particular legislative battle concern you? The Editors' conclusion says it all:
[Providing for the military is] the short-term concern. The long-term concern, for the second year in a row, is that the Democrats have put forward a budget that assumes the expiration of the Bush tax cuts will generate more than two-thirds of $1 trillion in additional revenue to pay for their spending sprees. It is important for conservatives to emphasize this loudly and clearly. One party's nominee for president supports making the Bush tax cuts permanent. The other party, from Congress to the campaign trail, will make no such commitment to staving off what would be the largest tax increase in American history.
This is not a hard concept to grasp, and it should be one that Republicans repeat over and over (very loudly) from now until November! Democrats raise taxes! Democrats raise taxes! Democrats raise taxes! Democrats raise taxes! Democrats raise taxes! Democrats raise taxes! Democrats raise taxes! Democrats raise taxes!
Democrats raise taxes!
If you talk to anyone who says they support a Democrat candidate, the first question you ask should be whether or not they approve of $1 trillion in new taxes. This is a key difference between McCain and the Dems, and it must be hammered home if McCain is to have a shot at winning.
There's my two cents.
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