…yeah, you know what’s in it already, don’t you? That “People’s” bit is what we call a tell: a promise of big, honking wholesale confiscation of Other People’s (Not Really The Real People) Money.� And lo! - this is precisely what the Congressional Progressive Caucus wants to do:
- Increase payroll taxes. Both sides.
- Reintroduce the tax hikes on small businesses that were threatened last year.
- Impose new tax hikes on highest bracket, reaching 47%.
- New taxes on foreign earnings.
- “Crisis responsibility fee.” Which sounds better than “Soak stockholders of banks for accepting TARP money tax.”
- “Financial speculation tax.” Which sounds better than “the twenty-first century equivalent of the Stamp Act:” it’s a tax on electronic stock transactions.
- $1,450,000,000,000 in new spending.
- Public option.
- Cuts to military.
…well, OK, the Democrats are threatening to do that last one today with the shutdown; but the rest is only not appalling because it’s probably unlikely that the Democratic party is generally going to even acknowledge that this plan exists.� They should, though, given that it’s the only darn plan that they apparently even have. If you are a Republican, this lack of an alternative probably amuses you; if you are a Democrat, this really should appall you.
Reactions? Philip Klein (who got leaked the plan) thinks that if the Democrats don’t embrace this plan (or any plan), then that itself is telling.� Megan McArdle is politely appalled, and makes the obvious statement that no entitlement reform = tax hikes on the middle class.� Q&O aptly sums up these people with one word: “Fools.”� Me?� I question the timing.� This is a heck of a point in history to come out and say “Hey!� Let’s take money away from the troops!”
Then again: progressives.� “Can’t live with them, pass the beer nuts.”
Moe Lane (crosspost)
Source: http://www.redstate.com/moe_lane/2011/04/08/the-peoples-budget/
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