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October, 25th 2007

Democrats cutting taxes... and raising them, too

– Liz Mair

Charlie Rangel's at it again.

At what, you ask? Raising taxes. By 4% on those earning more than $150k a year (or, it seems couples making more than $200k). By 4.6% on those earning more than $500k.

It's a stupid move, yes, and I think it gives us all a pretty good indication of what Democrats' definition of "rich" is (i.e., probably not the same as yours and mine-- $150k a year is a nice income, but it certainly isn't like the Dems are only going after Paris Hiltons here, is it?). The only good news? Looks like Rangel's going to cut corporate taxes, too.

Now, that bit is welcome. But if Democrats would actually cut some spending, maybe we could have avoided the tax hikes and still had the corporate tax rate cut, too. Wouldn't that have been nice? And good for the economy?

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