Tuesday, October 12, 2004

Tax the future

Fifth in the "Kris Kobach is wrong 10 ways from Sunday" series

In his lit piece, Kobach's fifth attack moves from security policy to the economy, attacking Congressman Dennis Moore for voting against the 2003 tax cut package.

In terms of providing an economic stimulus, this package fails, as the non-partisan Tax Policy Center says 82% of small businesses would have received a tax cut of $2,000 or less. A quarter of small businesses would have received nothing.

And according to the Center on Budget and Policy Priorities, for individuals and families, it isn't any better. Fifty-three percent of households would receive less than $100 and more than a third would receive nothing. But if you make $1 million or more, your average tax cut would be $93,500.

And to make matters worse, the true cost of the tax cut isn't $350 billion, but rather $1 trillion when all the sunsets and gimmicks are removed.

Apparently, Dennis Moore doesn't think it is right to pass huge, unaffordable tax cuts during times of record deficits, since all we are doing is passing the bill on to our kids.

Meanwhile, Kris Kobach thinks it is just fine to saddle our children and grandchildren with debt, which sounds like a good plan until one realizes that they're going to be the ones making the decision on whether to pull the plug.

"Sorry, we would have been able to pay for your long-term care, but we just can't afford it now that we've got to pay off your $7 trillion debt..."