No, Democrats haven’t become religious, but they suddenly want to cut taxes, at least the Alternative Minimum Tax.
“Why is that?” a sensible person might ask.
Even a Democrat might ask.
Because many Democrats live in high tax states, particularly high property tax states. The income shielded by deducting those high state taxes has now passed the Alternative Minimum Tax (AMT) threshold and is being taxed, at a rate high enough to produce a scream from “tax and spend” Democrats. Those are the same Democrats who vow that Americans are not being taxed enough, but really mean that other Americans are not being taxed enough.
In cutting the Alternative Minimum Tax, Democrats are hoist on their own petard. They vowed that any tax cut has to be “paid for,” either by increasing another tax, or cutting spending (PAYGO).
Since cutting spending is not in Democrats’ DNA, and raising taxes is, you know where this is headed.
Rep. Ellen Tauscher (D-Calif.), chairwoman of the New Democrat Coalition, demands an AMT bill that conforms with budget rules. “I want AMT paid for. I think the entire Democratic Caucus wants the AMT paid for. I am very resolved to that."
Tauscher said Senate Republicans need to recognize that a new party controls Congress, and compromise.
“I would remind them we took the majority and decided we were not going to run the government as they did, as profligate spenders.”
Democrats want to return to running the government their own way, as profligate taxers first, then as profligate spenders.
I usually don’t go out of my way to solve Democrats’ problems, but just this once I will, since tax cuts are near and dear to my heart.
In this case, the solution leaped off the front pages of newspapers all over the country today: “Senate rejects overhaul of farm subsidies.” Actually, the farm bill overhaul was more a repackaging. Instead of giving almost all crop subsidies to huge commodity farms primarily in the Mid-West, farmers of previously unsubsidized crops would be invited to join the others already feeding at the government-supported trough.
“Reform” as defined by Democrats.
And only a Liberal rag like the San Francisco Chronicle would characterize a crushing 37-58 loss on a farm bill “overhaul” as progress.
However, it’s perfect. The Democrats want to cut or eliminate a rapacious tax, the Alternative Minimum, and farm subsidies in the Land of Perpetual Agricultural Surpluses should be totally eliminated.
Abolish the AMT!
Abolish farm subsidies!
This is such a beautiful win-win for the American taxpayer, there is no way in Hell the Democrats will do it. They’re looking for a tax to raise to replace tax revenue lost by eliminating the AMT, not spending they can cut.
In fact, as illustrated by their attempt to repackage and expand farm subsidies, cutting spending is the last thing on their minds.