TaxCheat Geitner -- Hand in the Till

[JonL]

Originally Posted by whell

We couldn't do THAT! Why, we wouldn't be able to use the tax code to shape and direct social policy, or to reward our political benefactors. How could we possibly let our politicians use tax money to launder political contributions if we did THAT!

And, if you think we looked good in 1999, do you also pay your Master Card with your Visa?

You mean we couldn't use the tax code to further increase the unsustainable gap in wealth in this country? We couldn't use the tax code to further incentivize corporations to outsource good jobs? You bring up a good point about political contributions... we shouldn't allow corporations to make them.

As I recall, in the late '90s our economy had enjoyed an extended period of growth and prosperity, and our budget had a surplus for the first time in decades. Yes, we were entering a recession, typical and to be expected as part of the normal business cycle. Although I might not agree that tax cuts the way they were implemented were the best way out of the recession, there is a defensible argument to be made in their favor. There is NOT a defensible argument regarding maintaining those cuts once the economy began to improve AND during a time when we were spending enormously on wars and a new Medicaid drug benefit (that itself was implemented in a way to benefit the insurance and pharmaceutical companies far more than the needy seniors).

If there is pain to be had in digging out of our hole, shouldn't a good deal of that pain be borne by those who have benefitted disproportionately from its creation?