If the New York Times, that bastion of Conservative principles (sic) is questioning the Democrats spending plan, it must be bad
Senate Democrats have drafted a budget that would reject President Bush’s spending cuts for health care and education, would keep taxes low and would eliminate the deficit by 2012.
There is only one catch: they cannot say where all the money will come from.
That actually sounds like the Kerry Plan. Remember, he had tons of ideas, but no way to pay for them, when he was running for president.
Reading the story, we can see that the Democrats are all over the place. Freezing the minimum alternative tax, pay go, pushing issues off to later years, and so on. And, of course
“We believe some of the tax cuts will be extended, perhaps all of them,” Mr. Conrad told reporters on Tuesday. But only, he added, “if there is money to pay for them.”
Mr. Conrad said one source of revenue, though he did not know how much, could come from cracking down on corporations and wealthy individuals who hide income in offshore tax havens. But he conceded that the reducing the so-called tax gap would not provide enough money on its own.
Both Mr. Conrad and Representative John Spratt, Democrat of South Carolina and chairman of the House Budget Committee, said they were opposed to raising taxes. But they are not opposed to what they call tax reform, which could well lead to tax increases for some people and corporations.
To offset the cost of reining in the alternative minimum tax, for example, some Democrats want to roll back Mr. Bush’s tax cuts for the top 1 percent of income-earners. Others are pushing to eliminate many corporate tax breaks, and the House has already voted to repeal about $7.6 billion in breaks for oil companies.
Ah, eliminating tax breaks, also known as raising taxes. Taking the money that people and companies earn away from them, meaning they have less money to spend in other segments of the economy. Of course, the tax code would certainly be rewritten to give members of Congress and their supporters tax breaks.
What it comes down to is, watch your wallets! Democrats love to spend more then even the current crop of Republicans do, and they feel that it is their Right to take your money and reallocate it to others.
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