Fraley's Dailytakes

This Blog will..I repeat WILL Officially Launch in January 2006.

Friday, November 11, 2005

Curtains for Tax Cuts?

Madisonian and former state legislative staffer Michael T. Darda has an excellent piece on National Review Online today...

The Wall Street Journal reported this week that Senate Finance Committee chairman Charles Grassley (R., Iowa) has stepped back from pushing a two-year extension on tax cuts for dividends and capital gains. Instead, Grassley is pushing a one-year extension in hopes of capturing support from Republican moderates who are deterred by “demanding cuts in Medicaid and food-stamp benefits for the working poor” and the prospect of “voting to cut taxes for better-off households.”

While there is no shortage of waste in Washington, I’m not sure why the Senate majority would hold tax cuts on dividends and capital gains (which have brought in more, not less, revenue) hostage to Medicaid spending. This approach is all stick and no carrot. It is akin to placing a loaded gun in the hands of the minority who will have no problem telling the electorate that the choice is between widows and orphans or “tax cuts for the rich.” If the debate is framed this way, it likely will be curtains for the tax cuts, and potentially the Republican majority in November 2006 as well. more...

Nice hit, Mango.

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