Friday, February 6, 2009

The Daschle Tax Plan

As we hear the news of President Obama's cabinet nominees dropping like flies because of tax problems, I can't help but laugh at the hypocrisy of these liberal policy makers. For the past few years Tom Daschle, and I'm sure Nancy Killefer included, have been railing on President Bush and the Republicans for the tax cuts that were made law early in Bush's administration. These are the same people who have been advocating for a tax increase on those making over $250,000 a year and reversing many other aspects of the Bush tax cuts.

As we are now finding out, many top democrats have adopted a tax plan that they think should apply to them, while we, ordinary hard working Americans, continue to bear the burden of a congress that appears to have no concept of fiscal restraint. So what is this special tax plan the democrats have adopted? It's called the "Everyone Has to Pay Tax Except Me" plan. We know that Tom Daschle has failed to pay roughly $146,000 in back taxes, and Nancy Killefer quickly removed herself from consideration for the Chief Performance Officer position citing tax problems. Tim Geithner, the new Treasury Secretary, also faced grilling from members of congress during his confirmation hearing over his failure to pay his taxes. That is a novel concept - put a man who does not pay his taxes over the very agency that is charged with collecting the tax revenue for our government.

So after much consideration, I have decided that President Bush had a much better tax plan for America. A tax plan that lowers taxes has shown that it will stimulate the economy by leaving more of our hard earned dollars in our pockets for us to spend, while at the same time increasing revenue for the government. In addition to cutting marginal tax rates, cuts in capital gains rates, lowering taxes on dividends, and accelerating depreciation deductions for property, plant and equipment purchases will help give any economy a kick in the rear end and get it moving in the right direction at a faster pace.

However, if all else fails, I can always adopt the Daschle tax plan and just not pay my taxes. By doing that, I will have the additional capital to invest in the stock market or invest in any of my businesses and help create new jobs. Either way, I come out ahead and the economy comes out a big winner!


Rylee Corradini said...
This comment has been removed by the author.
Rylee Corradini said...

Hey Paul,

Nice blog; Google just helped me find you. How's life?

(this is 'Dini, by the way, if the lack of hair made it too hard to tell)