Monday, September 17, 2007

Dems Offer up "Soak the Rich" Policies

Fire of Liberty

According to Robert Novak's most recent column it looks like the Democrats in Congress, under the tutelage of Rep. Charles Rangel (D-NY), are trying there best to push through a bill which will raise the capital gains and dividend taxes on the investor class(50% of Americans) and will soak the "rich folks" who make over $200,000 with a myriad of taxes as well as placing a surtax on top of the current 36% rate.(Novak said on Your World with Neil Cavuto that this will be 4%). Now while the Dems are right to be ready to eliminate the ever creeping AMT, I don't believe that you do so by slapping more taxes on the folks that are being hit by the AMT. The soaking the rich policy is a bad way to run an economy and will only result in turning our economy down the road of ruin.

*Amity Shlaes has a good solution at tempering the Democrats "soak the rich" policies which is Clinton's former Treasury Secretary Robert Rubin. I'm no friend of Rubin's policies but I feel much safer with his moderating tones and ideas than what the Democrats and Clinton, Obama and Edwards are offering.

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