RWP was born in Manchester, in the north of England, in the late 1950s, so he is very old. He really liked the north of England, which by 1965 was hip and had three TV channels, and where he went to a coed school. His parents, for reasons best known to themselves, then yanked him away, to Belfast and then Dublin, which had one TV channel that started up at 6 pm with the Angelus (Catholic call to prayer). He also had to go to an all boys school, where he realized he really missed girls. This probably let him focus on schoolwork, though, and at age 19, after he had finished college, he set off for America, where he still resides. He has a bachelors degree in biochemistry and a Ph.D. from Harvard in biophysics, and has lived also in Mainz, Germany, Setauket NY, and Richland WA. He currently divides his time between Nebraska, Rosslyn VA, and Florida.

Sunday, September 2, 2012

Bob Kerrey's role in the biggest tax increase in history

Bob Kerrey has been trying to make political hay out of Deb Fischer's role in some minor Nebraska tax increases. That is truly outstanding chutzpah,given Kerrey's role as the deciding vote in what was (until ObamaCare) the largest tax hike in US history, Bill Clinton's tax hike of 1993.

Kerrey, as is his usual practice, dithered until the last minute before deciding. Eventually, the evening of the Senate vote, he called Clinton to announce his support. The measure passed without a single Republican vote, and five Democrats defected. Kerrey cast the crucial vote to create a 50:50 tie, which Al Gore, as Vice-President, then broke. The story is here.

The measure increased the top rate of Federal income tax from 31% to 39.6%. It increased the corporate tax rate to 35%, which has had a devastating cumulative effect on American business over the years. It made 85% of social security income subject to federal taxation. It increased the federal gas tax by 30%. And it increased EITC, a form of welfare. In raw dollars it was larger than any previous tax increase, and today is smaller only than ObamaCare (ACA) in extent. Kerrey said his reluctance was because the tax increase was too small!
My heart aches with the conclusion that I will vote 'yes' for a bill which challenges Americans too little.
It's time to hold Bob Kerrey accountable for his record.

No comments:

Post a Comment