For starters, here’s an interesting piece by Bob Novak in today’s WaPo on the topic of the Dems’ budget. By letting the tax cuts expire, they claim no new taxes, but the assembled GOP gang had lots to say about that yesterday. The beauty of the blogosphere is that there is no filter, so you can see what they had to say, in their own words:
Scott Garrett (R-NJ): The Democrats’ budget is a budget without any true substance of what they campaigned on. There are no reserve funds in the reserve account. They get their funds from the “tax gap.” [This is the amount of taxes owed but not paid to the IRS each year]. The Democrats’ budget estimates $300 billion in tax gap revenue while the IRS projects tax gap revenue at $20 billion over 5 years.
Cliff Stearns (R-FL): The Democrats’ budget plan raises marginal rates on all taxpayers, eliminates the 10% bracket, raises taxes on capital gains and dividends, cuts the child tax credit in half, reinstates the marriage penalty and reinstates the death tax. Our low tax rates have provided record federal revenues. According to the Treasury Department, revenues increased 9% to $954 billion, an all-time high
Brian Bilbray (R-CA): The process of including monies in the budget that weren’t considered by any committee or subcommittee is called, “Air drops.” This process should be eliminated, and I have introduced a bill this morning that does this.
Todd Tiahrt (R-KS) on the economy and taxes: Increasing taxes slows down our economy, cutting taxes grows our economy. Look at Ireland, they have the most thriving economy in the EU, got there by adjusting and lowering its taxes. Now we’re poised to not renew the tax cuts put in place by this Administration. When you increase regulation and increase costs, it makes us less competitive.
Marsha Blackburn (R-TN): We fought for sales tax deductibility for our states. That will expire [and not be renewed in the Democrats’ budget]. That hits 60 million Americans. This is a tax increase. We know what tax cuts have meant to entrepreneurship and innovation in this country, how companies handle depreciation, expensing. We need to see the kind of growth we’ve seen from these companies. We don’t want to see that stop.