The cost of our debt is one of the fastest growing expenses in the federal budget. This rising debt is a hidden domestic enemy, robbing our cities and states of critical investments in infrastructure like bridges, ports, and levees; robbing our families and our children of critical investments in education and health care reform; robbing our seniors of the retirement and health security they have counted on. . . . If Washington were serious about honest tax relief in this country, we'd see an effort to reduce our national debt by returning to responsible fiscal policies. -- Barack Obama
Funny how every single item he mentions up there is a government expenditure. I guess implying that taxation is robbery would be too far for the good senator.
Restore Fiscal Discipline to Washington
Reinstate PAYGO Rules
I like this. If you want to spend some money, you should have some money. Score: 1
Reverse Bush Tax Cuts for the Wealthy
You know, it's almost impossible to understand what he actually means to do. The tax code is so complex that simply saying that 'I want to cut taxes on the middle class' is almost meaningless, and that's before you factor in the amount of taxes actually paid by, for example, the bottom 50% of earners. I'm going to say -1 for this one, even though I would adjust that up or down if I had specifics.
Cut Pork Barrel Spending
I've got an idea - how about eliminating it. He wants to slash earmarks to 2001 levels, uh, how about rolling them back to 1791 levels? Score: 1
Make Government Spending more Accountable and Efficient
I like this, but I'd rather make government more efficient by making it smaller! Score: 1
End Wasteful Government Spending
Let's see what he calls "wasteful" "spending":
Make the Tax System more Efficient
End Tax Haven Abuse
You have got to be kidding me. Companies are going overseas to escape America's byzantine tax code, and his solution is to add some more complexity to punish companies trying to escape. Why not make our tax code so simple and our tax burden so light that companies start using US as a tax shelter? Score: -2
Close Special Interest Corporate Loopholes
Why not eliminate all deductions? Why not just give individuals a single, standard deduction for, say, 15 grand, and maybe a mortgage deduction, and then remove all over special loopholes and deductions across the board?
"Why not make our tax code so simple and our tax burden so light that companies start using US as a tax shelter?"
Brilliant! You'd think a candidate could campaign and win on just that idea. In my dreams I guess.
Posted by: Joel at April 1, 2008 01:53 PM