Anybody that has read the Declaration of Independence knows that taxes were a big issue for our Founding Fathers. Certainly, this has been lost on most media in our country as they regularly advocate a higher and higher financial burden on the citizenry to pay for government programs.
No finer example of the divide between the media and the intent of our Founding Fathers was demonstrated than in an op-ed published in today’s Washington Post entitled “Tax Inheritance, Not ‘Death.’” In it, authors Maya MacGuineas and Ian Davidoff – fittingly from the New America Foundation, as their ideas certainly go contrary to the America our colonists fought and died for – proposed that estate taxes in America should be replaced by inheritance taxes for everybody that tries to pass on more than $10,000 to their heirs.
Yes, they really said $10,000: “A far better approach would be to tax people equivalently on all the income they receive, whether it be from earned or inherited income, by replacing the estate tax with an income tax on inheritances. Under such a tax, inheritances would be treated the same as other forms of earned income and taxed in the same manner.”
The article foolishly continued:
Not that there's been any doubt as to the politics of NPR and PBS - home to world-class Republican haters such as Bill Moyers. Still, it's instructive to see just who has launched a massive organizing effort to ensure continued taxpayer funding of the two organizations. Turns out . . . it's none other than the far-left MoveOn.org.
On the NBC Nightly News, Chip Reid recounted how Republicans claimed tax cuts have helped the economy before he picked up the left-wing numbers without offering any context about the dollar amounts of the cuts compared to the rate paid at various income levels, but at least he identified the source as “liberal.” Reid highlighted how “Democratic critics say the overall bill is heavily tilted in favor of the very wealthy" and passed along how “according to the liberal-leaning Tax Policy Center, those earning more than $1 million a year would save an average of about $42,000 a year. But families earning between $50,000 and $75,000 would save only $110 a year. And the savings are even smaller for those making between $40,000 and $50,000." (Transcripts and tax burden facts follow)
For the rest of us, from a subscription-only Wall Street Journal editorial, here's more confirmation (bolds are mine):
The Washington Post reported on Wednesday's front page that House and Senate Republicans reached agreement on extending "President Bush's deep cuts to tax rates on dividends and capital gains," but the chart they used on the front page was a Democratic talking point. It shows that people with a 2005 income between $10,000 and $50,000 would receive nearly zero, while people making over $100,000 would have much larger returns.
Miles O'Brien may be CNN's resident NASA expert. But that doesn't make him a rocket scientist, and it sure doesn't make him an economist.
Maybe that's why he thinks raising taxes will help alleviate high gas prices.
There “could be a good argument for a gas tax in all of this to help pay for these alternative fuels,” the “American Morning” co-host suggested on the April 25 program.
On Friday's Countdown show, MSNBC's Keith Olbermann plugged the Rolling Stone cover story by historian Sean Wilentz which argued that George W. Bush may be the worst President ever, citing the opinions of over 400 historians. As he introduced his interview with Wilentz, Olbermann sympathetically referred to the recently fired CIA employee who leaked classified information on the agency's use of secret prisons in Europe in the War on Terrorism, calling her a "whistleblower," and asked the question: "President Bush, whose administration is now firing, perhaps prosecuting whistleblowers, is he simply the worst?"
While introducing the segment, Olbermann listed several of Wilentz's attacks against Bush without challenging their validity, including accusations of "fabricated evidence" of WMD, a "retro fiscal policy" of "massive tax cuts" for the wealthy that "racked up monstrous deficits," and a criticism citing an unnamed Republican strategist who claimed that the Republican Party is "the first religious party in U.S. history." Olbermann, who perennially makes comparisons between George Orwell's novel 1984 and the Bush administration, managed to work in yet another reference to Orwell as he ended the interview mocking the administration's use of the term "pre-9/11 thinking," charging that Bush would accuse Wilentz and the other historians of being "guilty of pre-9/11 thinking, as George Orwell might have said." (Transcript follows)
Sunday's off-lead story is by Japanese-based reporter Norimitsu Onishi ("Revival in Japan Brings Widening Of Economic Gap -- Reckoning for Premier -- Egalitarianism Is at Stake as Rich-Poor Division Threatens Mobility").
Of course, Japan's striated class system and government-controlled economy was for decades the main threat to mobility. But Onishi has another culprit in mind: Reaganism.
This morning's NBC "First Read," ostensibly an analysis by NBC News's Political Director Elizabeth Wilner (and others), misleads about the contents of an NBC/WSJ Poll:
The NBC/Wall Street Journal poll and other surveys continue to show that Americans have little appetite for extending the tax cuts in the face of more pressing domestic concerns -- including energy prices.
In a conversation about gas mileage, Charles Gibson showed he does have some understanding of how when a pie gets bigger, predictions done with static scoring, instead of dynamic scoring, are wildly inaccurate. Unfortunately, he doesn’t apply the same common sense to the affect of tax cuts on the federal deficit.
In a little half-hour online chat Friday at Washingtonpost.com, WashPost columnist/reporter David Broder complained about the "fiscal profligacy" of the federal government, but specifically against the Bush tax cuts. He sounded the familiar refrain that Americans should be having to "sacrifice" more for the war, even as his questioners pointed out tax cuts are popular.