There comes a point in Washington debates when the losing side has little left but bluff, and here's a good example. What Democrats know, but won't say, is that the party has walked itself into a lose-lose-lose tax fight. Their choices now range from bad to worse to problematic.
Friday, September 17, 2010
Taxes confiscate personal property. That's the bottom line. But my BFF's at Sadly No! not only want more taxes, they are attacking "the Bush tax cuts for the wealthiest of the wealthy" and they want to punish "the most privileged amongst us." Here! here! for the neo-communist agit-prop. Now for the facts: (1) Americans in the highest income brackets pay the highest proportion of income taxes, and (2) the Bush tax cuts of 2001 and 2003 cut marginal income tax rates at every income level, so the left's push to raise taxes won't just fall on the "wealthiest of the wealthy." Taxes redistribute resources away from the producers of wealth. The revenues fund the expansion of state, which is why leftists always want more. Taxes crush initiative and kill opportunity, two goals central to radical ideology. The American people know this and the Demo-Socialists in Congress are having a hard reckoning with it. Kim Strassel has more: