Friday, December 14, 2007

When in doubt... TAX

Democrats in Debate Urge Taxes on Rich

Democratic presidential hopefuls called for higher taxes on the highest-paid Americans and on big corporations Thursday and agreed in an unusually cordial debate that any thought of balancing the federal budget would have to wait.

"We're not going to be able to dig ourselves out" of Bush-era deficits in the next year or two, said Illinois Sen. Barack Obama, one of six Democratic rivals sharing a stage for the final time before Iowa's leadoff Jan. 3 caucuses.

Asked about the importance of eliminating deficits, Democrats responded by criticizing President Bush's economic policies, including some of his tax cuts.

"I want to keep the middle class tax cuts" that Congress passed during President Bush's tenure, said Sen. Hillary Rodham Clinton of New York. But she said she favors raising taxes for the wealthiest.

Former Sen. John Edwards of North Carolina readily agreed. "The truth of the matter is the tax policy has been established by the big corporations and the wealthiest Americans," he said. "What we ought to be doing instead is getting rid of those tax breaks."

Across 90 minutes, the fierce competition between the two Iowa front-runners shone through only once - when Obama was asked how he could offer a new type of foreign policy since several of his advisers once worked for President Clinton.

Talking of raising taxes during an economic slow down as was said this week by the Fed is both irresponsible and stupid. Of course there is a part of this whole talk of raising taxes as part of a way to pander for votes from people that feel like the rich don't pay enough in taxes. Those that think that way are complete blithering idiots, seeing as most taxes in the nation are paid by the top 10% of wage earners with the remainder coming from Corporate Taxes.

Its funny how NO BODY and Republicans included are not talking about the ENORMOUS PINK ELEPHANT in the room, Social Security. Perhaps the largest problem that is facing the future of this country and no one wants to mention it.

The proverbial shit is going to hit the fan really soon as more of these Baby Boomers start to collect. Its coming fast folks. Really fast, and the solution is not to raise more income taxes, the solution lies in privatizing the system.

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