ABC's Halperin: Obama Should Promise to Tax the Wealthy

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During the roundtable discussion on Sunday's This Week on ABC, when host George Stephanopoulos asked why Barack Obama had not talked about the economy more in his campaign ads, ABC political analyst Mark Halperin argued that taxing the wealthy should be a strong issue for Democrats this year, although he conceded it failed when tried by Al Gore and John Kerry. Without making any mention of the case that lower taxes on all Americans is beneficial to the overall economy, Halperin merely talked about President Bush's tax cuts that "disproportionately benefitted the wealthy," and seemed to suggest that eliminating those tax cuts may help the economy. Halperin: "That's one issue, again, Gore and Kerry went up against George Bush whose tax cuts disproportionately benefitted the wealthy, one of the best issues the Democrats could have. Neither of them made it stick. I think Obama, again, compared to the last two Democrats to run, has a real chance to make that case on taxes and fairness and how to grow the economy in a way that, I think, could be one of the decisive issues in this race."

Below is a transcript of the relevant exchange between Stephanopoulos and Halperin from the Sunday, July 6, This Week on ABC:

GEORGE STEPHANOPOULOS: Mark, here's what I don't get. And maybe this is coming soon. But if you look at the conditions in the economy right now -- record high oil prices, 85 percent of the country thinking we're going in the wrong direction, more signs this week that we could be in for a long, slow recession -- I'm wondering why Obama, in his paid advertising, hasn't been out there hitting this issue, to the exclusion of all others.

MARK HALPERIN: The economy?

STEPHANOPOULOS: Yes.

HALPERIN: Well, I think we're going to see both the candidates planning to talk about the economy this week. There's a memo out this morning from the Obama campaign, incredibly, crisply making the contrast on taxes. That's one issue, again, Gore and Kerry went up against George Bush whose tax cuts disproportionately benefited the wealthy, one of the best issues the Democrats could have. Neither of them made it stick. I think Obama, again, compared to the last two Democrats to run, has a real chance to make that case on taxes and fairness and how to grow the economy in a way that, I think, could be one of the decisive issues in this race.

—Brad Wilmouth is a news analyst at the Media Research Center.


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Gore & Kerry couldn't make it stick?

"I'm wondering why Obama, in his PAID advertising, hasn't been out there hitting this issue, to the exclusion of all others."

He'd be a complete idiot to spend money on paid advertising to 'hit' this issue. You wackoffs have already given him the equivalent of billions in FREE advertising, and it's only going to ramp up exponentially as we approach November.

That fact that BHO has no coherent plan doesn't even matter.

Class warfare

One of the key tenets of Obama's church, reverend Wright, Saul Alinsky, and most Marxist doctrine -- Why shouldn't he make the promise? You can't expect him to waste all his upbringing and not follow through.

taxing the wealthy

The rich should be driven from their homes and forced to live out in the country..., an agrarian paradise..., oh wait..., no..., that didn't work last time..., strike that idea..., for now

 

sarc off

 

I'm looking forward to

I'm looking forward to Halperin's forthcoming book, "Class Warfare Gibberish from a Media Idiot" with a forward by Paul Krugman.

McNotObama '08

Huh??!

"...Halperin merely talked about President Bush's tax cuts that "disproportionately benefitted the wealthy....."

Please tell me where in the Constitution it instructs the President to tax "the wealthy".  And how will eliminating the tax cuts for "the wealthy", the people who provide the lion's share of captial and employment, grow the economy? He doesn't say. But there's Halperin proving yet again that liberals or "progressives" as they now like to be known,  know jack-squat about money or economics. They just talk as if money grows on trees and it's all there for them to spend any way they like ------- while hypocriticly protecting their own amassed riches, of course.

Oh for crying out loud...the

Oh for crying out loud...the question is, what is rich according to liberals? I would guess it is anyone making over $100,000 (even a combined income of that amount). Hang on to your wallets folks.

One of the common frauds

One of the common frauds perpetrated by the DNC and media mouthpieces like Mark Halperin is the notion that you tax the idle wealthy via the income tax.  There's a huge difference between a high income earner and someone who is simply wealthy...you get taxed on your income, not on your wealth.  Tax increases on the "wealthy" are actually tax increases on high income earners...you know, the ones who would otherwise use their tax savings to create jobs for others through hiring and investment.  Income tax increases may appear to soak the "wealthy", but they don't.  They take money out of the economy and kill job opportunities for the middle class and the poor.

"Government's view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it." -Ronald Reagan

fitzfong.blogspot.com

  I agree with this guy. 

  I agree with this guy.  Obama should make the case for higher taxes every chance he gets. 

Walter Mondale also endorses

Walter Mondale also endorses this strategy. :)

McNotObama '08

"....Neither of them made it stick."

Well John F'n Kerry sure tried. I clearly remember him going on every political show saying "Roll back the Bush tax cuts!" "Roll back the Bush tax cuts!". Of course, he didn't ever go much further because the inconvenient truth for Kerry, Gore and  the DNC, "wealthy" means anyone who made $200,000 and over

No taxes paid to start with

I have told my reps many times they were shooting themselves in the foot by cutting all these folks off the tax rolls.   A family of 4 now pays almost no taxes if they make 40 -50 thousand per year. 

By taking them out of being a member of the taxpayer clan , they no longer have any loyalty to those that want to cut their taxes...since they no longer pay any.  

They have now become the dems best friend.  They are now TAX EATERS and will jump on any "gimme" that the dems will offer. 

If they dont feel like part of the group anymore they will go to the next group.  Just human joining nature.

And you better be watching as you mentioned getting money from Income taxes is iffy at best nowdays.  They will start and some state already have a "wealth"tax as yo mention.  They tax TOTAL assets.  So they get at your stocks, bonds, etc.   

This is to get at the people who live only on dividents and interest type stuff...even munis etc.    

too early

We aren't at that stage of the campaign season yet.  The time for "tax the wealth" only comes a few weeks before the election. Right now Obama is raking their big money donations. 

tax Hollywood

Here's how you progressives can really make some cash, tax Hollywood. Example: movie gets made for $20 million, movie earns $250 million first year, you take (tax) $220 million from profits, leave $10 million profit to be split up by the 500 people who made the movie. Put that in your campaign book.

D

Keep the ILLEGALS out, join NumbersUSA to send free faxes to your reps.

Hey, you too could become wealthy.

What the Democrats don't realize is that, in the United States, anyone could become "wealthy", or at least wealthy enough to come into the Democrats tax sights.

What the Democrats never mention is how few people, in the lower brackets, actually have to pay taxes.  The taxes the Democrats are complaining about are Social Security taxes which everyone has to pay. 

I'm sure the Democrats would like to rich to pay for everyone's social security, and of course not collect themselves, and pay for everyone's medical care also.  They can propose tax increases all they want and rich folk will figure out how to avoid them, even if it includes moving to Guatamala. 

Democrats: Stuck on Stupid since 2000.

Great points on who the

Great points on who the democrats call "rich".

However, those that are truely rich and have wealth are that way for a reason. They are smarter than the tax laws and play by a different, yet legal, rules.

Robert Kyosaki explains the difference between the Rich and the Not Rich in Rich Dad, Poor Dad, very well.

The only ones that are going to feel the pain are those that make a lot of money, but are paid by an employer.

You trying to say Jesus Christ can't hit a curveball?

Let me pose a simple

Let me pose a simple question. Why would anyone want to vote for a tax increase for themselves?  Those in the liberal media such as Halperin, Stephanopoulos, Couric, Williams, etc. are earning much more than the $200,000 to $250,000 threshold where Barack Obama’s substantial tax increases would supposedly begin. Add to that the capital gains tax that Obama would like to double, and you have Democrats in the media pushing for a candidate that, if elected, will impose hefty tax increases not only on the ‘wealthy’ but on them as well. What am I missing?  http://www.issues200...

-------------------------------------------------------

I'm voting for Barack Obama now that an AP poll shows people would rather barbecue burgers with Barack Obama than with John McCain.  http://news.yahoo.co...

Kleptocracy

So Mr. Halperin wants Obama to promise that he will turn America into a kleptocracy?

How nice.   

Res tantum valet quantum vendi potest.

They tried this in 1990

One need only look back to what the "soak-the-rich" luxury tax did to the US boat building industry in 1990. The documentary The Rising Tide explains how the blue collar factory workers were the ones that got hurt. The tax paid out 7 dollars in unemployment for every 1 dollar it collected. Let's learn from the past.

Just kill 'em!

Why not simply round up all the rich people with total assets over say, a million bucks. Then just kill them. Take their stuff and give it all to the poor and middle-class.

That will surely solve our financial problems, Social Security  and Medicare issues, housing shortages and most importantly, its fair!

No more immoral than a very very late term abortion!

Geez, who needs the

Geez, who needs the American dream when Democrats are in control! They'll make sure that we're all poor - except for them of course.

It's sad that most people don't realize that the true face of communism is to take the possibility of individual acheivement and wealth and not really spread it around to everyone but to give all to the politicians, which is why they naturally seem to cling to such ideology.

Can't wait for the government-schooled Mark Halperin...

...to explain (after Obama has been elected) exactly why it is that so many people working for small businesses (which is where 80% of new jobs come from) are being laid off.

Gee, do ya think it's because their employers (many who file their personal and business taxes together) suddenly find themselves in a position to have to cut business expenses in order to pay their now higher taxes?

Once Obama is elected and raises taxes on "the wealthy," I will have no sympathy for the small business employees who lose their jobs because they were stupid enough to vote for Barack Obama.

Obama has been endorsed by the Communist Party USA.


Any American that is stupid enough to vote for this man deserves to lose their job.

The truth is insensitive. - Neal Boortz

explaining loss of jobs is easy

You might as well get used to it if you are not already because if elected nothing will be Senator Obama's fault or the fault of the Dem Congress. It will be...."George Bush's fault", rinse and repeat until such a time that the audience actually starts asking questions a la Pres. Carter.

Also, this morning I read an article written recently that blamed President Reagan for our current energy crisis and part of the 'logic' was that President Carter had a plan and was warning people.

Agnostic, the idea that Carter had an "energy plan" was a lie.

He never had any such thing, and the lying liberal media damn-well knows it, too.

-Dave

Tax Cuts and Economics 101

I wish these liberal idiots would take an Economics course or go back and review our own recent history. When we conservatives talk about tax cuts, the first of those are tax "rate" reductions on income. Then, after that generates a huge cash flow to the treasury because so many people successfully try to increase their income because they get to keep more of it, reduce the tax "rates" on the other types of taxable money, e.g. capital gains, interest, dividends and those areas will increase as behaviors are modified to take advantage of that. However, increasing tax rates defeats its own purpose every time because it changes peoples' behavior to make less money available to tax. 

They took Econ 101, but

They took Econ 101, but flunked.

obama's tax the %5 inflate 100%

This week I called the Senate offices of Obama and Biden.  Each time I spoke with a very polite young man. I said, Is it true the Senator's tax plans include increasing income taxes on people earning $250K or over, the upper 5%, is that true? Then I asked each one, "Where are these folks going to get the money to pay the higher taxes?"   The Obama aide said,"Nobody has ever asked us that before." I laughed and said, in real world economics, unless these folks take it out of their own pockets, they are going to raise thr costs of the goods and services they sell to EVERYBODY ELSE. That means  higher taxes, higher inflation and higher cost for capital.  How is that a prescription for economic growth? The aide said he would pass my concerns on.The Biden aide addmitted it would raise prices  but that higher taxes and higher prices are not correllated. Iguess that must be a  coincidence of 100%. He also told me the was no correllation between increased tax revenues to the government and the Bush tax cuts.  I guess just another case of 100% coincidence.

I'm sure Biden's toady will

I'm sure Biden's toady will also be shocked at the "coicidence" that many businesses will have to resort to cutting payroll in order to pay these punitive new taxes.  Taxes get raised, yet tax revenues somehow get reduced...but it has nothing to do with the fact that increased tax rates trigger increased unemployment.  Higher tax rates->higher unemployment->less taxpayers->less tax revenue.  But surely that economic "genius" Plugs Biden will find a way to overcome that coincidence...by increasing the tax rates again to "punish" those businesses for laying off employees or "sending jobs overseas".

"Government's view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it." -Ronald Reagan

fitzfong.blogspot.com