Wednesday, November 12, 2008

Fool Me Once

In 1992, recognizing the will of the American people, Democrat Bill Clinton ran on a platform of passing middle class tax cuts. In 1993, the Clinton Administration immediately reversed its promises of a middle class tax cut by increasing the top individual income tax rate to 36 percent and creating a new top rate of 39.6 percent, by repealing the cap on Medicare taxes, and increasing gas taxes. See Heritage Foundation citing the U.S. Department of the Treasury, Office of Tax Analysis, "Revenue Effects of Major Tax Bills," September 2006.

Time Magazine recognized as much in 1994 in its story about then-President Clinton's plans to cut taxes in time for reelection (or at least promise such cuts):

To candidate Clinton that seemed to be the case in 1992, but he abandoned his pledge of a tax cut for the middle class as soon as he moved into the Oval Office.

In his second term, once again, President Clinton broke his pledge.

Now it appears that President-elect Obama's allies at the Associated Press are laying the ground work to allow the new man in charge to follow in the well-worn footsteps of his Democratic brethren by abandoning their pledges of a middle class tax cut. The AP's Alan Fram And Trevor Tompson lead off their story today with this opening line:

People want the tax cuts promised during the presidential campaign, but may be willing to wait while President-elect Obama takes on the larger issue of fixing the economy.
How many times do they have to do this to us until people stop believing that Democrats are ever going to cut taxes?




3 comments:

Anonymous said...

I forget, what's it called when you repeat the same action over and over, but expect a different outcome each time?

Anonymous said...

insanity.

Matthew said...

Prizes for slb. whoo!